THE State-controlled AIB has named Dr Colin Hunt – a one-time economic adviser to Brian Cowen – as its next chief executive. The proposed appointment is subject to consultation with the Minister for Finance Paschal Donohoe and approval by the Central Bank, but each is expected to be a formality. Dr Hunt is a well-known […]
NEW YORK (Reuters) – As U.S. stocks have been rocked by trade tensions and monetary policy worries, shares of small-cap companies, by one measure, have now confirmed that they are in their first bear market in three years. On Friday, the small-cap S&P 600 Index .SPCY fell 1.6 percent to mark a 20.05 percent decline […]
Taoiseach Leo Varadkar has insisted taxpayers will not face the hardship of a mini-Budget in the spring if there is a no-deal Brexit on March 29. The Economic and Social Research Institute (ESRI) has this week predicted a major hit for the Irish economy in the event of the UK leaving the EU without a […]
WASHINGTON/NEW YORK (Reuters) – T-Mobile US Inc and Sprint Corp believe their foreign owners’ offer to stop using Huawei Technologies equipment will help with the United States clearing their $26 billion merger deal, sources said, underscoring the lengths to which Washington has gone to shut out the Chinese company. Like all major U.S. wireless carriers, […]
Explainer: How big should executive pay packets be? Ex-Nissan chief Ghosn affair raises wider issues
How big should executive pay packets be? How widespread is lax corporate governance in Japan? And what’s the future of the alliance between Nissan and France’s Renault? These are the broader issues brought into focus by the indictment of ousted Nissan Motor Co Ltd chairman Carlos Ghosn. Ghosn was arrested on Nov. 19 charged with […]
WASHINGTON (Reuters) – U.S. consumer spending appeared to gather momentum in November as households bought furniture, electronics and a range of other goods, which could further allay fears of a significant slowdown in the economy. The Commerce Department said on Friday retail sales excluding automobiles, gasoline, building materials and food services surged 0.9 percent last […]
EU leaders have warned Theresa May she cannot expect a “legally binding” commitment that the UK will not be tied to the bloc indefinitely through the Northern Ireland backstop. The British Prime Minister went to Brussels to appeal to the leaders of the 27 to give her the assurances that would enable her to get […]
HONG KONG/BEIJING (Reuters) – China Development Bank (CDB) is leading a team to supervise HNA Group’s asset disposals as the heavily indebted conglomerate scales back operations to a point that will leave it holding only core assets, people familiar with the situation said. The finance-to-aviation group is more than a year into the process of […]
TOKYO (Reuters) – Asian shares tumbled on Friday after China reported a set of weak data, fanning fresh worries of a slowdown in the world’s second-biggest economy and leaving investors fretting over the wider impact of a yet unresolved Sino-U.S. trade dispute. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 percent. Japan’s Nikkei, […]
Ofcom figures show that 94% of UK homes and offices can now get superfast broadband, but less than half have taken it up. Around four million households with old-style, basic broadband have passed their initial contract period and could switch to superfast for the same – or less – money than they currently pay. Customers […]