Ulster Bank appoints AIB man as chief financial officer

Paul Stanley will replace Charles McManus, who stepped down last year from Ulster Bank

Britain leads Europe’s improving economy in July

Stronger British business led the way in Europe’s slowly improving economy in July, according to surveys that suggested the euro zone’s lengthy recession may be nearing an end.

Mainstream sells 25% stake for €100m investment

The Japanese trading house Marubeni has agreed to pay €100 million for a 25 per cent stake in Mainstream Renewable Power, the wind energy company controlled by Airtricity founder Eddie O’Connor.

The transaction is one of the biggest equity investments in an independent renewables company in recent times. It is the biggest single investment yet for five-year-old Mainstream, which is developing more than 40 wind and solar parks worldwide.

“This …

Euro zone manufacturing grows for first time in two years in July

Euro zone manufacturing activity grew for the first time in two years in July as factory output surged, a business survey showed today, suggesting the region may pull out of recession this quarter.

Commercial debt advice firms to be regulated by October

COMMERCIAL firms that want to offer debt management services to consumers will have to meet new Central Bank rules to stay in business.

Anglo executives seek single judge for pre-trial process

Lawyers for three former Anglo Irish Bank executives due to go on trial next January have asked for a single judge to “take control” of the pre-trial process amid concerns over adverse publicity.

Central Bank warns on easing austerity and lowers growth forecast

The Central Bank has warned the Government not to ease up on austerity in the Budget.

Eurozone stabilises as manufacturing/ services PMI hits one-and-a-half year high

The Eurozone manufacturing and services sectors stabilised in July as the PMI (purchasing managers’ index) hit one-and-a-half year high.

Euro zone loans to private sector shrink in June – ECB

Loans to the euro zone’s private sector shrank by more than expected in June, starving the economy of the funds needed to sustain recovery and piling pressure on the European Central Bank to take fresh action.

IMF distances itself from Ashoka Mody’s comments

The International Monetary Fund has rejected a call by its former chief of mission to Ireland for a significant reduction in austerity in the country.