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Today's headlines

Microsoft plans power plant on data centre site; How Intel is encouraging staff to take unpaid leave

The top stories from business and politics in today’s Business Post

Irish homeowners to keep paying high interest rates even if repossessions rise

It was thought by some that allowing home to be repossessed more easily would bring interest rates down, but Finance’s Retail Banking Review states that the move would make little difference to the cost of loans

Peter O’Dwyer: Does Donohoe’s report hold Ireland’s banks to account?

Amid diminishing bank competition, a significant shift in customer relations and digitalisation challenges, a new report commissioned by the Minister for Finance concludes that unwinding financial crisis-era restrictions is essential, but acknowledges that many issues remain to be addressed

Eithne Shortall: We could be laughing all the way to the bank – or the divorce courts

Going all in on a joint account and doing away with your own can test more than your finances, especially if you’re not used to being called to account on your own spending

Taoiseach defends easing of limits on bankers’ pay and bonuses

Bailed-out lenders will be able to pay out bonuses of €20,000, while the government is moving to lift the €500,000 pay cap on senior officials at retail banks

Merger makes Irish-owned bank largest in Paraguay

Sudameris, owned by Irishman Conor McEnroy, is to link up with Banco Regional to create institution with $4.8 billion in assets

Ulster Bank to raise fixed mortgage rates by 0.75% following ECB hikes

The lender said the decision would apply to to two, four and seven-year loans

O’Grady foresees ‘great outcomes’ as he takes over at the helm of Bank of Ireland

Ensuring the smooth transfer of KBC Bank and Ulster Bank customers to Bank of Ireland and integrating a €9 billion KBC mortgage loan book are just some of the items on Myles O’Grady’s in-tray as he becomes BoI’s new chief executive

Permanent TSB becomes the last bank to hike interest rates

Bank of Ireland and AIB have already moved in response to European rate increases

‘No one wants this just before Christmas’ - Ulster Bank to cut 600 jobs as part of Irish exit

The move is part of a phased withdrawal by the lender from the Irish market

Bank of Ireland confirms O’Grady as new chief executive

The appointment of the bank’s former chief financial officer was widely expected after O’Grady left Musgrave Group in October 2022

Opinion: Ireland is one of the few countries where banking profits are guaranteed

Marc Rubinstein writes that customers pay the price of bolstering lenders, just as they did for bailing them out

Increase in Bank of Ireland interest income on back of rising rates

Gavin Kelly, the interim chief executive at Bank of Ireland, said the lender had delivered a “strong business performance” in the third quarter

Ian Guider: Liveline managed to hold AIB to account but the balance of power is with the banks

Ireland has now just three banks left operating and, along with this lack of choice, customers face higher costs and a reduced number of services and premises

Ian Guider: Banks could lose more than business by alienating SMEs

The government is finally assessing the new landscape of Irish banking, which displays a huge gap between service provided and the needs of business customers

ECB move to restrict bank subsidies to cost AIB and BoI up to €100m

European Central Bank to change terms of cheap loans to European banks

Buying time: is now the right moment to loosen mortgage lending rules?

The governor of the Central Bank says now is the right time to loosen the restrictions, but some question the wisdom of his decision

Central Bank to ease mortgage lending rules from January

Under the new rules, borrowers will be able to borrow up to four times their income but will still be required to provide a 10 per cent deposit if a first-time buyer

Running out of credit: can Ulrich Körner steer Credit Suisse away from disaster?

Ulrich Körner, the chief executive of Credit Suisse has the unenviable task of rebuilding the reputation and clout of the embattled bank before its finances hit a brick wall

The Big Interview

‘Ireland is still an extremely attractive place to do business’ – Laura Trimble, HSBC

Laura Trimble, the new chief executive of HSBC Ireland, talks about the challenging rental situation in Dublin, growing HSBC’s mid-market business and sustainability plans for the future