Jack O'Connor News
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Ireland’s dash to the bailout exit door is turning into more of a stagger than a sprint.
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Ireland’s most powerful labor union rejected the latest round of proposed public sector pay cuts, leaving the government’s plans to save over 1 billion euros ($1.3 billion) facing defeat.
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Irish bankers preparing for the biggest wave of foreclosures in the nation’s history are struggling with how to dispose of the homes as the central bank pressures them to go after owners of investment properties.
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Morgan Stanley , owner of the world’s largest brokerage, hired Jack O’Connor as head of North American institutional sales for its investment-management unit.
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Ireland’s government and leaders of its largest labor unions backed pay cuts for public-sector workers aimed at shaving 1 billion euros ($1.3 billion) off spending to rein in one of the euro area’s largest deficits.
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About 50,000 people marched in Dublin to protest the Irish government’s 15 billion-euro ($20 billion) austerity measures aimed at cutting the budget deficit.
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Following are comments about Ireland’s 85 billion-euro ($113 billion) emergency-aid package from the European Union and the International Monetary Fund. The three-year package, aimed at propping up the country’s battered banking industry and to help service its sovereign debts, will require Ireland to repay the money at an average interest rate of 5.8 percent.
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Ireland laid out plans to narrow its budget deficit as voters braced for a fourth year of austerity amid concerns that the future of the euro may be in jeopardy.
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Ireland is in the final stages of negotiating an international bailout for its banks before markets open on Monday as workers march to protest budget cuts.
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The Irish Congress of Trade Unions, a workers umbrella organization, is marching in Dublin today against a 15 billion-euro ($20 billion) austerity package aimed at cutting the government’s budget deficit.
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