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Lehman's former chief collects $484.8 million

Lawmakers lashed out at Lehman Brothers Holdings Inc. Chief Executive Officer Richard Fuld, peppering him for two hours with queries about excessive Wall Street pay and his failure to acknowledge the firm's financial woes until it was too late.

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.

Bailed-out bank bosses awarded €100m bonanza

THE most senior executives at Irish banks earned close to €100m in the last four years, despite serious misjudgements over the property market that led to the Government bailing out the entire banking system on Monday night.

Cider party's over

With cider sales and profits set to fall for the second year running, chief executive Maurice Pratt was left with little choice but to resign this week. The 90pc fall in its share price since the beginning of last year makes a takeover of the only quoted Irish drinks group virtually inevitable.

Banks cave in to rate-cut pressure

SIX leading lenders bowed to enormous political and public pressure yesterday and said they would reduce mortgage rates.

400 Ryanair staff forced to take unpaid leave

FOUR hundred Ryanair pilots and cabin crew will be forced to take one week of unpaid leave this year as the budget airline cuts back flights from Dublin and Stansted.

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.

Icelandic wipeout serves up stake in UK pub group to Irish investors

Joe Lewis, a Caribbean-based associate of Irish horse racing tycoons John Magnier and JP McManus, has snapped up a 26pc stake in British pub group Mitchells & Butler after Iraq-born property billionaire Robert Tchenguiz was forced to liquidate his position in the firm.

Banks leading charge as new Act lifts ISEQ gloom

THE Dublin market enjoyed another exceptional day yesterday with banks leading a continued rebound in share values which recovered a further 5pc of recent losses.

$100bn tax sweetener fails to stop decline

US stocks tumbled sharply last night by over 3pc and credit markets remained tight yesterday after plunging factory orders and a seven-year high in jobless claims stoked fears that the government's financial rescue plan might not be enough to ward off a recession.

Verizon Wireless Plans to Charge Companies Sending Text Messages
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ECB cuts interest rate as part of coordinated global move

The European Central Bank, Federal Reserve and four other central banks lowered interest rates in an unprecedented, emergency coordinated bid to ease the economic effects of the financial crisis.

Financial crisis could claim English soccer teams

The chairman of English soccer's governing body said the country's clubs have debt of 3 billion pounds (€3.9 billion), and conceded that a team may become a victim of the meltdown in the world's financial markets.

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