Alan Kelly

Allied Irish Banks Said to Consider Redundancy Payoff Ceiling

Allied Irish Banks Plc, the country’s biggest government-controlled lender, is finalizing details of a redundancy package for more than 2,000 staff that will likely include a limit on individual payouts, according to two people familiar with the situation.

Sino-Forest Shareholder Asks for Bond Rethink

Sino-Forest Corp.’s biggest shareholder Richard Chandler Corp. is pressing the board of the Chinese timber company that is fending off fraud allegations to reconsider defaulting on its bond payments.

Allied Irish Says Reliance on Central Bank Funding Since June Has Tripled

Allied Irish Banks Plc , Ireland’s second-biggest bank, has tripled its reliance on funding from central banks since the end of June as companies and customers pulled money amid the country’s debt crisis.

Deposit Flight at European Banks Means Risk Piling Up at ECB

European banks are losing deposits as savers and money funds spooked by the region’s debt crisis search for havens, a trend that could worsen economic and financial conditions.

Allied Irish Is Said to Near Announcement on M&T Stake Sale

Allied Irish Banks Plc may disclose within the next two days plans to sell its $2.2 billion stake in M&T Bank Corp. to institutional investors, said two people with direct knowledge of the matter.

Global Banks May Need $1.5 Trillion in Capital, Study Says

Global banks may have a capital deficit of more than $1.5 trillion by the end of next year and some may require state support, according to a study by Independent Credit View, a Swiss rating company.

Ireland Said to Weigh Taking Majority Stake in Allied Irish

The Irish government is in talks with Allied Irish Banks Plc that may result in the state taking majority ownership of the company, the nation’s second-largest lender, said two people with direct knowledge of the discussions.

ECB Shouldn't Pull Emergency Measures Before Irish Reform, Katainen Says

The European Central Bank shouldn’t withdraw support measures including record-low interest rates and emergency liquidity until Ireland has restructured its banks, Finnish Finance Minister Jyrki Katainen said.

Irish Talks Intensify as Banks Lose Deposits, Cowen Campaigns

Irish officials and experts from the European Union and International Monetary Fund are working through the weekend in Dublin, racing to finish an aid agreement amid pressure to act before markets tumble.

Commodities Fall as China Takes Steps to Curb Inflation; U.S. Stocks Climb

Commodities sank after China told banks to set aside more reserves in an effort to curb inflation, while the euro gained amid prospects for a financial rescue for Ireland. U.S. stocks advanced after Nike Inc. increased its dividend and earnings at technology companies topped estimates.

"We do have a substantial amount of capital that our financial regulator here in Ireland has requested us to raise."

- Alan Kelly on May 25, 2010

Allied Irish

Brian Lenihan

Europe

New York

Drunken-Driving Limit Should Be Lowered to .05, NTSB Says

Hagel Sets Furloughs for 680,000 Workers Starting July 8

S&P 500 Rallies to Record on Increased Economic Optimism

GE’s Last Consumer Stand Gets $1 Billion Plus New Chief

Verizon Wireless Agrees to Pay Co-Owners $7 Billion Dividend