Small Business Resources, Business Advice and Forms from AllBusiness.com

ALLIED Irish Banks (AIB) has no intention of selling Allfirst, the bank's US subsidiary at...

ALLIED Irish Banks (AIB) has no intention of selling Allfirst, the bank's US subsidiary at the centre of the pound sterling520m foreign exchange loss that has rocked the financial world, according to group chief executive Michael Buckley.

In his first comments on the future of Allfirst since it was revealed that there was an alleged fraud by rogue trader John Rusnak, Buckley said he is confident Allied will not be forced by its investors to break itself up.

Buckley told The Business: "There's no reason to sell either Allfirst or indeed any of our other asset

In addition, make sure to read these premium articles also available with your free trial:

T T T
art_print Printart_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

Free AllBusiness Articles

  • New Year blues for the US dollar
    • HEADNOTE The dollars' decline against major international currencies has so far been orderly and has caused few worries in the US. Others however, worry that a cheaper dollar could hit the world's economic growth. IMAGE PHOTOGRAPH 1 A renewed focus on the structural imbalance of the US's $10 trillion economy, ......
  • Main economic events - 2001.
    • January 1 Greece becomes 12th member of EMU. 3 35-hour working week becomes law in France. 3 Sweden takes on EU Presidency. 3 Surprise interest rate cut by US Federal Reserve Bank by 0.5% to 6%. 3 Rolls-Royce wins 20-year maintenance contract for BA Airbus, worth [pounds sterling]600m. 4 ECB ......
  • Comparative central banking and the politics of monetary policy
    • HEADNOTE THE RELATIONSHIP BETWEEN GOVERNMENTS AND CENTRAL BANKS MUST BE BALANCED AND DEFINED. All central banks must steer a careful course between independence and accountability. There are four important mechanisms: legislative mandate, instrument independence, informal interactions with government, and government procedures to foster accountability. Inherent conflict between independence and accountability ......
  • Comparative Central Banking and the Politics of Monetary Policy: The Relationship Between Governments and Central Banks Must be Balanced and Defined.
    • All central banks must steer a careful course between independence and accountability. There are four important mechanisms: legislative mandate, instrument independence, informal interactions with government, and government procedures to foster accountability. Inherent conflict between independence and accountability makes balance a crucial component of successful central banking. If this balance is ......
  • Benjamin Strong, the Federal Reserve, and the limits to interwar American nationalism: Part I: Intellectual profile of a central banker
    • HEADNOTE Part I: Intellectual Profile of a Central Banker This essay on Benjamin Strong, the first governor of the Federal Reserve Bank of New York (1914-1928), evolved from the author's research on the development of an American internationalist tradition during and largely in consequence of the First World War. Viewing ......
  • Central Banks Still Shifting From Dollar
    • A growing number of central banks are diversifying their foreign currency reserves away from the dollar and into the British pound, the euro and the yen.
  • The Eurosystem, the U.S. Federal Reserve, and the Bank of Japan: similarities and differences.
    • The paper provides a systematic comparison of the Eurosystem, the U.S. Federal Reserve, and the Bank of Japan. These monetary authorities exhibit somewhat different status and tasks, which reflect different historical conditions and national characteristics. However, widespread changes in central banking practices in the direction of greater independence and ......

Forms

Blogs

  • Small Business Chic and Mau-Mauing the Mom and Pops
    • In Washington these days, everyone is suddenly a friend of small business, even if an issue actually has little to do with small firms, or worse, adversely affects them.
  • Campaign Money Links SBA Fraud Company to Key Lawmakers
    • The largest loan fraud in the history of the Small Business Administration has created repercussions in Washington, but whether lawmakers are just rounding up the usual suspects or are actually serious about cleaning up the SBA's mess is open to question.
  • 47 traders face fraud charges
    • 47 traders face fraud charges (November 20, 2003) : "47 traders face fraud charges" "US federal prosecutors today filed charges against 47 traders in the foreign exchange market, after an FBI undercover operation exposed a murky world of fraud, corruption and narcotics trafficking." - This is greed, pure and ......
  • The Carly Chronicles
    • The Carly Chronicles : "The Carly Chronicles" An Inside Look at Her Campaign to Reinvent HP By: George Anders "'Someday, there will be books written about what we're doing, Carly Fiorina declared in 1999. She had just joined Hewlett-Packard as its new chief executive, the first outsider ever chosen ......
  • All Bloggers
Related Topics
Tools

Sponsored Links

Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.