Ireland’s banks need to forgive some unsustainable housing debt, John Moran, the most senior official in the Finance Ministry said, as the nation’s central bank pressured lenders to act as arrears spiral.
When Bill Clinton told American executives that they’d be “nuts” not to invest in Ireland, many were already ahead of the former president. U.S. companies were behind almost 40 percent of offices bought or leased in Dublin in 2011 and the trend is likely to accelerate this year.
Chaoda Modern Agriculture Holdings Ltd.’s Chairman Kwok Ho, Chief Financial Officer Andy Chan and Fidelity Management’s George Stairs were accused of insider trading by Hong Kong’s financial secretary.
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.
United Technologies Corp., which makes Sikorsky helicopters and Pratt & Whitney jet engines, offered concessions to European Union regulators in their review of its $16.5 billion bid for Goodrich Corp.