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Soden says BoI must unite with its rivals at AIB

FORMER Bank of Ireland chief executive Mike Soden has called for Bank of Ireland to merge with Allied Irish Bank to create a "national champion" in a bid to stave off a banking meltdown.

With sufficient capital, banks can weather the gathering storm

IN 2002, Irish Life & Permanent funded 80 per cent of their loans from customer deposits, but by 2007 they only funded 35 per cent of loans from deposits. The additional funding requirement of €22.6bn was met by borrowing from overseas banks and investors.

Davy chief reassures clients over 'scurrilous' rumours

DAVY, the leading stock broking house, recently moved to reassure its clients that the business was on a sound financial footing following the circulation of what were termed "scurrilous" rumours that it was in danger of breaching its banking covenants.

Virgin boss hits out at BA/AA tie-up

Virgin Atlantic, one of the world’s leading long-haul airlines, has warned that US consumers would be harmed by the dominance of a BA/AA stranglehold on JFK and Heathrow Airports.

Icelandic group sells Greencore stake with €70m loss

Icelandic food group Bakkavor offloaded its 10.9pc stake in Greencore in a surprise move in a depressed market yesterday, crystallising a loss of over €70m on the holding it built up earlier this year, sources said.

Guarantee extended to foreign banks

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

British banks cry foul over cash migration

BRITISH banks continued to cry foul yesterday amid claims they have suffered an outflow of millions of pounds of deposits to state-protected Irish banks.

Subprime lender takes possession of six homes

The High Court allowed lenders to take possession of nine homes and businesses on the first day of the new legal term yesterday.

Whoops! How finance gurus fouled up their forecasts

THE entire Irish banking system appears to have been on the point of collapse last Monday, prompting the introduction of not emergency, but panic legislation.

UBS buoyant as it claims it will be profitable by 2009

Swiss banking giant UBS said it would swing into profit in the third quarter, as it seeks to regain client trust after successive quarters of losses on massive asset writedowns.

GregRobert Quality Pet Supplies and Shane's Tack to Donate Portion of Profits to Texas Veterinary Medical Association
October 7, 2008
Farmington Hills, MI ( www.MichiganPR.net )
Contact: carol@gregrobert.com
248 242 7231

GregRobert Quality Pet Supplies and Shane's Tack, two of the pet industry's leading online retailers, will be donating a percentage of their profits to help aid the Texas VMA in the aftermath of Hurricane Ike.

Visit: Shane's Tack: www.ShanesTack.com
Visit: GregRobert Quality Pet Supplies: www.GRpet.com
Asian markets hammered overnight

Asian stocks tumbled, driving Japan's Nikkei 225 Stock Average down as much 11 percent, and U.S. futures fell on concern the deepening credit crisis will push the global economy into recession.

C&C boss Pratt pays price for company's poor results

C&C group chief executive Maurice Pratt is to resign his position at the company.

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