Bank of Ireland Plc will redeem some of the government’s preferred shares in the company, helping the state to more than recoup the 4.8 billion-euro ($6.5 billion) cost of rescuing of the country’s largest lender.
In September, RSA Insurance Group Plc Chief Executive Officer Simon Lee expanded the role of his top Irish lieutenant, Philip Smith, and praised his “outstanding record.” Two months later, he suspended him.
Ryanair Holdings Plc, Europe’s biggest discount airline, said it’s exploring a requirement for at least 200 single-aisle jets with Commercial Aircraft Corp. of China after signing an accord to help develop the C919 model.
U.S. billionaire Wilbur Ross reaped a 105 million-euro ($138 million) gain in five months after buying a stake in Bank of Ireland Plc, the nation’s largest lender, amid one of the costliest banking crises in history.
The Irish government may be forced to take controlling stakes in Bank of Ireland Plc and Irish Life & Permanent Plc , the last of the country’s biggest lenders to escape state control, following tomorrow’s stress tests.
Royal Bank of Scotland Group Plc’s Irish unit is preparing its second round of job cuts in four years as part of an effort to save about 50 million euros ($63.9 million), according to two people with knowledge of the plan.