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Bank share recovery fails to offset drop in general market

DUBLIN shares fell yesterday after a recovery in bank shares failed to offset a drop in the general market and the ISEQ Index ended the session with a decline of 33.97 points or 1.39pc to 2416.22.

Crude falls below $50 a barrel for first time since 2007

Oil prices plunged over $3 yesterday, briefly dipping below $50 a barrel as 16-year high US unemployment figures and plummeting stock markets caused investors to price in lower crude demand.

Freddie Faces NYSE Delisting
Freddie Faces NYSE Delisting
Severson joins Trinity board

BIOTECH

Formation Group facing a €13m hit after collapse of Landsbanki

The company which acts as agent for Irish international footballer Richard Dunne and Sunderland manager Roy Keane faces a possible €13.6m hit as a result of the collapse of Icelandic bank Landsbanki.

'Daily Mail' cuts jobs and costs

The owner of the 'Daily Mail' newspaper has axed hundreds of jobs and launched a £100m drive to boost revenues, as it becomes the latest publishing group to feel the grip of the financial crisis.

Citigroup chief moves to allay fears over future

A question mark loomed last night over the future of Citigroup's Irish division as speculation grew in the US that the company was planning to sell off parts or all of the company.

In brief: Tullow strikes it rich with oil find

Tullow Oil yesterday announced another oil discovery in Ghana. The result encouraged brokers to up estimates for the nearby Tweneboa prospect, which is now believed to hold up to 750 million barrels of oil.

Lower 3.5pc rate to encourage first-time buyers

Charlie Weston Personal Finance Editor

Debt outlook for builders CRH lowered to 'negative'

THE outlook on CRH debt has been lowered by ratings agency Moody's who cited the firm's high exposure to the weak building materials markets in the Americas and an expected weakening in cash flow as it moved the outlook on the company's debt from 'neutral' to 'negative'.

Moody's Cuts Prudential's Outlook To Negative
Moody's Cuts Prudential's Outlook To Negative
Poland Secures $12.6 Billion Loan Facility From ECB
Poland Secures $12.6 Billion Loan Facility From ECB
AIB raises €2bn by tapping the bond market

Allied Irish Banks yesterday became the first Irish lender to tap the bond market following the €440bn Government guarantee scheme -- raising €2bn.

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