Mastercard in £333m deal for DataCash

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp John Dunne Show Comments ▼ Tags: NULL MasterCard has agreed to buy British payment service provider DataCash Group for about £333m in cash to expand its e-commerce business.MasterCard, which makes money from processing credit and debit card payments on its network, said it would pay 360 pence per share, representing a 54 per cent premium to DataCash’s Wednesday close.“The acquisition of DataCash will expand our already significant e-commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide,” MasterCard chief executive Ajay Banga said in a statement.The deal is expected to be complete by the end of October whatsapp Mastercard in £333m deal for DataCash Thursday 19 August 2010 4:18 am Sharelast_img read more

Moulton’s Better Capital buys Calyx

first_imgMonday 6 September 2010 8:28 pm JON MOULTON’S company Better Capital has acquired the debt and related rights in IT services provider Calyx, a firm that Moulton’s former firm Alchemy took private in 2007. Calyx provides IT outsourcing, voice and data services, software, network security and training. The group’s UK and Irish companies have been placed into administration and receivership respectively. Alchemy owned 59.2 per cent of Stornoway, the 2007 management buyout vehicle of Calyx. Stornoway’s 101p a share bid valued Calyx at £70.2m. Calyx joined Aim at 55p a share in 2005. Better Capital acquired the debt on 3 September and this puts it in a strong position to buy the operations. Better Capital has made its investment through a special purpose vehicle. whatsapp Moulton’s Better Capital buys Calyx Share whatsapp KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Show Comments ▼ Tags: NULLlast_img read more

Deutsche poised to raise capital

first_img whatsapp Deutsche poised to raise capital More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Thursday 9 September 2010 9:28 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan DEUTSCHE Bank (DB) is set to announce the City’s biggest rights issue of the year next week, coinciding with talks to finalise the Basel III banking capital rules. The German giant has made plans for a share offering worth up to €9bn (£7.4bn), people close to the situation said yesterday, in what would be its first money-raising exercise since the financial crisis.Deutsche Bank (DB) has previously stated it would only sell more shares to fund an acquisition. The primary goal on this occasion is understood to be smaller retail bank Deutsche Postbank, in which the group already holds a 30 per cent stake.However, Postbank has a market capitalisation of just €5.7bn, leaving DB free to boost its own capital base with the leftover cash.While DB passed European stress tests in July, its core Tier 1 capital ratio has fallen from 8.7 per cent in December to 7.5 per cent in June, according to its latest results.Officials close to the Basel III committee said yesterday the new rules would require all banks to hold between seven and nine per cent in Tier 1 capital, leaving DB near the bottom end of the acceptable range. Deutsche Postbank, which failed the European stress tests in July, also lingers near the danger zone. Regulators are also considering a proposal to impose an extra capital buffer as part of the new system, said reports yesterday, which would force banks to put aside more capital in times of plenty to protect them from a downturn. This means the Tier 1 minimum could rise as high as 12 per cent if regulators move to stop the economy overheating. Share KCS-content While most UK banks already meet these higher requirements, others including DB and Allied Irish may be forced to boost their capital reserves before the rules come into force as soon as 2012.Talk of the Basel III rules came as a relief to many banks yesterday, however. Stocks in the UK and Europe hit four-month highs after the rules appeared to be less stringent than feared.Andreas Zoellinger, co-manager of the BlackRock euro-markets fund, said yesterday: “We think that the Basel III rules will be less harsh for the banking sector than feared six to 12 months ago.”Finance ministers from 27 countries will meet on Tuesday to approve the package of rules, which will be thrashed out on Sunday by central bank governors including Bank of England head Mervyn King. A spokesperson for Deutsche Bank declined to comment last night. Show Comments ▼ whatsapp Tags: NULLlast_img read more

Deutsche Telekom chief faced with probe

first_img Deutsche Telekom said its chief executive Rene Obermann is the only top company official among the eight people facing investigation in a suspected bribery case in its eastern Europe operations.In a show of support however, the company started negotiations this month with Obermann to extend his contract, which expires in November 2011, according to a person with knowledge of the matter . Deutsche Telekom declined to comment.Telekom’s top lawyer, Manfred Balz, said that Obermann was not the target of a US investigation that triggered searches in Germany but was being questioned as a witness in the US probe, Balz told a conference call, adding no other members of top management or the supervisory board were involved.German prosecutors are investigating eight people including Obermann at the request of US authorities who are looking into suspected bribery in Macedonia and Montenegro.The WirtschaftsWoche magazine reported on Monday that prosecutors searched Obermann’s home and confiscated documents last month as part of the investigation. Wednesday 15 September 2010 8:45 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com KCS-content Share Tags: NULL Deutsche Telekom chief faced with probe center_img whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ whatsapplast_img read more

WORLD’S BIGGEST WINDFARM OPENS IN KENT

first_img Show Comments ▼ WORLD’S BIGGEST WINDFARM OPENS IN KENT KCS-content whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Tags: NULL whatsappcenter_img Share THE world’s largest offshore wind farm opened seven miles off the coast of Thanet in Kent yesterday. The project can generate 300 megawatts of wind-powered energy – enough to power 200,000 homes, according to energy secretary Chris Huhne. Swedish energy company Vattenfall, which spent more than two years building the 100-turbine wind farm, is one of the biggest wind power operators in Europe. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Thursday 23 September 2010 7:46 pmlast_img read more

Rebel MEPs try to beef up hedgie laws

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp KCS-content whatsapp Show Comments ▼ Rebel MEPs try to beef up hedgie laws center_img Tuesday 28 September 2010 11:25 pm NEW EUROPEAN rules on hedge funds and private equity groups were in disarray yesterday after French MEPs claimed they could scupper the regime’s passage into law. Talks on the Alternative Investment Fund Management Directive (AIFMD) came close to agreeing a final draft in Brussels on Monday, but yesterday dissenting politicians scrambled to arrange covert one-to-one meetings with other MEPs to talk them into toughening up the rules. The French have not revealed the full text of their proposal. However, several sources said the rebels aim to abolish a planned “passport” for hedge funds, which would require some non-EU funds to meet transparency standards to trade here, and replace it with a stricter, universal benchmark. “It felt a bit like when a phone company calls you up with a great new deal, but then they won’t tell you any of the details,” said Conservative MEP Syed Kamall, who has been involved in months of negotiations over the directive. Kamall told City A.M. yesterday the breakaway group might have enough support to stop further progress. “The French are trying to undermine the Belgian presidency and form a blocking minority, and they claimed tonight to have done so.”The acting EU finance minister, Belgium’s Didier Reynders, said yesterday he realised the crackdown did not command the support of every member state, but said he will not force through the current proposals.The UK, which is home to 80 per cent of Europe’s hedge funds, has backed the introduction of a passport system. Andrew Baker, chief executive of the Alternative Investment Management Association, said yesterday: “The French proposal could be calamitous for European investors who could be prevented from investing in funds or managers outside the EU, and non-EU hedge fund managers who would find it very difficult to access the European market. This would be a profoundly protectionist move.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Share Tags: NULLlast_img read more

House prices in record monthly fall

first_img Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com House prices in record monthly fall whatsapp John Dunne House prices dropped 3.6 per cent in September from the previous month, according to the latest figures from the Halifax.It represented the biggest monthly drop since figures were first compiled in 1983.The group said an increase in the number of properties on the market, combined with a drop in demand fuelled by uncertainty over the economy, forced prices down.Martin Ellis, housing economist with Halifax, said it is too early to conclude that September’s fall represents the beginning of a sustained period of declining house prices.He added: “Looking at quarterly figures – a better measure of the underlying trend – house prices in the third quarter of 2010 were 0.9 per cent lower than in the second quarter of 2010.“This rate of decline is significantly slower than the quarterly changes of between minus five per cent and minus six per cent that were seen in the second half of 2008.”The average UK home is now valued at £162,096, the survey found. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comcenter_img Thursday 7 October 2010 3:50 am whatsapp Show Comments ▼ Tags: NULLlast_img read more

CITY VIEWS: HAS THE CHANCELLOR GOT THE COMPREHENSIVE SPENDING REVIEW RIGHT?

first_imgWednesday 20 October 2010 7:30 pm Show Comments ▼ Tags: NULL More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapp AARON CUTMORE | TQ SERVICES“I think people have got to learn they can’t have what they want when they want it. People got used to just getting things on credit. We had none of these problems in the past.”SEAN DOBBIE | HISCOX“We know work needs to be done to sort out the finances and everybody needs to do their bit, but I don’t think the government has thoughtthis through properly.”FIONA PAULI | FREELANCE DESIGNER“We don’t really have a choice. We do need to save more as a society, but I don’t think the retirement age should go up and I don’t think benefits should be cut.” Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times CITY VIEWS: HAS THE CHANCELLOR GOT THE COMPREHENSIVE SPENDING REVIEW RIGHT? KCS-content whatsapplast_img read more

US new home sales rise

first_img US new home sales rise Wednesday 27 October 2010 10:54 am John Dunne Sales of new homes in the US went up 6.6 per cent in September to 307,000.The figure beat market expectations of a rise to just 300,000.However, the rate is still 21.5 per cent below the level of a year ago. Show Comments ▼ Share More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com whatsapp whatsapp Tags: NULLlast_img read more

Irish ruling paves way for €73bn of loan purchases

first_img Irish ruling paves way for €73bn of loan purchases KCS-content THE Irish High Court has slapped down a challenge by property developer Paddy McKillen, paving the way for Ireland’s National Asset Management Agency (NAMA) to continue buying billions of euros worth of loans from distressed banks.Lawyers for McKillen, who owns a string of luxury hotels including Dublin’s Clarence Hotel and London’s Claridge’s, had argued that NAMA did not have the proper legal authority to buy his property loans worth €2.1bn (£1.8bn) from banks participating in the government’s rescue programme. However, the High Court ruled in favour NAMA’s argument that refusing the agency permission to buy the loans would cripple the government’s distressed assets programme and was outside the courts’ remit.NAMA is in the process of buying up both performing and non-performing loans with a nominal value of €73bn. It expects a quarter of them to be income-producing.McKillen had argued that because his loans were not impaired, they were not eligible for purchase. But the courts found that “the decision might be read as not requiring impairment of the borrower”. The ruling clears the way for NAMA to continue with its loan-buying programme. Share whatsapp whatsapp Show Comments ▼ Monday 1 November 2010 9:23 pm More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULLlast_img read more

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