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Archive for October 2014

Lloyds sells 4,000 Irish mortgages to Lone Star


UK lender Lloyds has offloaded a € 1.1 billion portfolio of 4,000 Irish non-perfroming residential mortgages to US private equity fund Lone Star. Lloyds, which operated in Ireland under the Bank of Scotland/Halifax brands, is understood to have sold the “Project Paris” loan book at a discount, but the scale of the write-down is not clear.…

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BBC News… Share prices slide as ‘perfect storm’ threatens markets


US shares ended largely flat on Thursday, after tracking losses on European and Asian stock markets. Better-than-expected company earnings and a raft of positive economic data mitigated continuing concerns about global economic growth and the Ebola crisis. Wall Street’s Dow Jones, S&P 500 and Nasdaq indexes declined earlier. The Dow Jones pared a 206 point decline to end down 24…

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Paddy is easy pickings for the foreign vultures

Ulster Bank

“We are having an Irish boom without the Irish, and the best qualification for entry into the Irish recovery is not to be Irish. The banks that are exiting Ireland are offering up their portfolios of loans to foreign vulture funds that have no interest in staying in this country. Here’s what’s happening. European interest…

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