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G7 signals reluctance on co-ordinated solution

Finance ministers and central bankers from the Group of Seven nations signaled reluctance to adopt a co-ordinated effort to shore up banks, risking a deeper crisis of confidence after this week's global stocks crash.

M&S outlets in Ireland are hit worse than those in UK

IT'S not just an ordinary recession, it's a Marks & Spencer recession.

Bookies hoping 'recession' will be a winner

NEVER ones to pass up on an opportunity, the bookies are now taking bets on the recession.

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Shares take another hit as market at 11-year low

Irish shares plunged to a fresh 11-year low yesterday as investors waited for details of the Government's €400bn banking guarantee scheme and fears mounted that lenders across the globe would need to raise capital to recover from the credit crisis.

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Magnier firm bids €160m for rival

SALAMANDER Energy, the Asian oil firm backed by racing magnate John Magnier, has launched a €160m takeover bid for rival group Serica.

Irish Nationwide fined €50,000 for 'touting'

IRISH Nationwide was hit with a €50,000 fine yesterday for sending an email around London touting for business on the back of its state guarantee.

Guarantee extended to foreign banks

The Irish government is extending its guarantee of deposits to four international banks with subsidiaries in the country.

Lenihan gets frosty EU reception over bailout

FINANCE Minister Brian Lenihan received a frosty reception from his European colleagues last night in the wake of the Government's €400bn bailout for Irish banks.

Buffett's new instant share profits vanish

Billionaire investor Warren Buffett's instant paper profits on Goldman Sachs Group Inc and General Electric Co have been wiped out amid the stock market's worst yearly slump since 1937.

A return to positive growth is on the cards ... but at a more modest rate

When the subprime crisis broke in August 2007, the common reaction was, first, that it would last for three to six months and, second, that it would have little impact on economic activity.

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