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Ex-bank employee faces questioning in AIB's US lawsuit

THE HIGH Court has ordered the examination here of an Irishman and former employee of Bank of America described as a "crucial witness" in US court proceedings by Allied Irish Banks plc against Bank of America and Citibank over $691 million (€507 million) losses incurred as a result of the activities of rogue trader John Rusnak.

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The tiger rolled over and died

The FT has reported of yesterday’s action on the Irish stock exchange Anglo Irish Bank, the specialist property lender, plunged 45 per cent, while Irish Life & Permanent, the bancassurer and the republic’s largest mortgage provider, fell 34 per cent. Allied Irish Banks weakened nearly 16 per cent and Bank of Ireland lost 15 per cent. “Everyone has [...]

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Ireland bans short selling of shares in four Irish banks

LONDON (MarketWatch) -- Ireland joined U.S. and British stock exchange regulators in banning short selling of financial stocks. The Irish Financial Regulator said that no short sales of Bank of Ireland , Allied Irish Banks , Irish Life and Permanent or Anglo Irish Bank Corporation will be allowed, except for market makers. The regulator also said it will require positions of more than 0.25% of the...

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Shops reject plan for AIB 'cashback' Laser levy

NEWSAGENTS HAVE written to Allied Irish Banks (AIB) protesting at the decision to charge them 20 cent for every cashback transaction in store.

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Dresdner Kleinwort cuts Bank of Ireland, Allied Irish Banks

LONDON (MarketWatch) -- Dresdner Kleinwort downgraded Bank of Ireland to sell from reduce and Allied Irish Banks to sell from hold on Thursday. "Greatly increased concerns over residential developer exposure have led us to raise out provisions forecasts and reduce our earnings estimates by 25% to 50%," the broker said. They added that both Bank of Ireland and Allied Irish Banks now look short on capital...

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Allied Irish Banks: With 9% Dividend, This Bank Could Thrive

David Daly submits: A. Overview: These many months of panic in the prices of U.S. bank stocks have been equally savage among some European bank stocks. One diamond in the rough is Allied Irish Banks (AIB), not to be confused with Anglo-Irish Bank, which is also publicly traded. Allied Irish is a well-run institution with a dominant position in the attractive Irish economy and with a well-covered dividend...

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Zacks Bull and Bear of the Day Highlights: McDonald's, Mack-Cali Realty, j2 Global Communications, Allied Irish Banks and Agnico-Eagle Mines

CHICAGO - Zacks Equity Research highlights McDonald’s Corp. (NYSE: MCD) as the Bull of the Day and Mack-Cali Realty (NYSE: CLI) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on j2 Global Communications, Inc.

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AIB's Polish unit reports 9% rise in profits

Bank Zachodni WBK SA, the Polish unit of Allied Irish Banks, said profit increased 9 per cent in the second quarter as rising loans and deposits boosted revenue.

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Weekly Guru Bargains Highlights: Whole Foods Market Inc., CBS Corp., AutoNation Inc., Bank of America Corp., Allied Irish Banks P.L.C.

The shares of various companies, especially in the financial sector, have declined in response to weak performance in the second quarter. You can buy Guru stocks at lower prices these days. Companies of the Week: Whole Foods Market Inc. (WFMI), CBS Corp. (CBS), AutoNation Inc. (AN), Bank of America Corp. (BAC), Allied Irish Banks P.L.C. (AIB).

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Rating of AIB's Polish subsidiary cut

The Polish subsidiary of Allied Irish Banks (AIB), Bank Zachodni WBK SA, saw its shares fall this morning after Fitch Ratings lowered its debt outlook for the Polish bank and the stock was downgraded by UniCredit SpA.

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AIB to raise certain mortgage rates

Allied Irish Banks has announced that, in light of the continuing high cost of funds, it is to increase some of its mortgage rates with effect from June 16, 2008. The bank said that it will hold others at the current rates.

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Estimates cut for AIB's Polish unit

Bank Zachodni WBK SA, the Polish subsidiary of Allied Irish Banks (AIB) fell in Warsaw trading this morning after Raiffeisen Centrobank AG cut its price estimates for the Polish financial institution.