Ireland sells final AIB shares 15 years after banking crisis

DUBLIN, June 17 (Reuters) - The Irish government said on Tuesday that it had sold its remaining shares in AIB Group (AIBG.I), opens new tab, one of the country's two dominant lenders it effectively nationalised 15 years ago as part of the euro zone's biggest state rescue.
The state sold a 2.06% stake in AIB at 6.94 euros per share, which will generate 305 million euros ($352.6 million) upon settlement, the finance ministry said in a statement. That will take to 19.8 billion euros the total amount returned to the state to date from its investment in AIB, it added.
($1 = 0.8650 euros)

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The Sun

18 minutes ago

• The Sun

Shoppers rush to nab outdoor pool for just £45 in Lidl – it's big enough for the whole family but you need to be quick

DIVE IN The bargain won't be around forever so act fast IT'S weekends like this that many of us would kill for our own swimming pool. And this weekend you could be in luck as shoppers are nabbing exactly that for under £50 at Lidl. 2 2 Taking to the Facebook group Extreme Couponing & Bargains UK, one mum shared her hot weather find. She revealed that she had picked up the Crivit Frame Pool from the German supermarket on special offer down from £69.99. Explaining how she got more money off, she wrote: 'Absolute bargain considering the best way 10ft pool is currently on offer for £100 online 'Was uploaded yesterday save £15 on the 10ft frame pool using the Lidl plus app, I managed to get an extra £5 off today so got it for £45, comes with a pump absolute bargain!' Fellow bargain-hunters were quick to gush over her find, with many agreeing it was an excellent find. Commenting on the post, one wrote: 'I've had one for last few summers and one of the best items I've ever bought for my kids.' 'I've had that pool it's ace,' added another, while a third wrote, 'It's such a bargain. I managed to get one today.' However, it seems that not everyone was full of praise with some group members describing the 10ft pool as 'small.' But the mum was quick to clap-back at her haters. She wrote: 'It's a 10ft pool for all those saying it's small 😅 it took around 3hrs just under to fill up (depends on your hose pressure I guess) I bought a cover on Amazon for a 10ft pool and fits perfectly, you can also check stock in shops on the Lidl website.' Five Lidl rosés you need this summer, according to a wine expert - a £6.99 buy is as light & crispy as £22 Whispering Angel It is important to remember to always shop around when buying something like this as you might find a cheaper alternative. Websites like Trolley and Price Spy let you compare thousands of products across different retailers to find the best price. Price Spy even lets you see how much an item has cost over time, so you can see if the current price is a good deal. A quick scan on the Google Shopping/Product tab will also bring up how much retailers are selling a certain item for. IF you've ever shopped in Aldi or Lidl then you'll probably have experienced its ultra-fast checkout staff. Aldi's speedy reputation is no mistake, in fact, the supermarket claims that its tills are 40 per cent quicker than rivals. It's all part of Aldi's plan to be as efficient as possible - and this, the budget shop claims, helps keep costs low for shoppers. Efficient barcodes on packaging means staff are able to scan items as quickly as possible, with the majority of products having multiple barcodes to speed up the process. It also uses 'shelf-ready' packaging which keeps costs low when it comes to replenishing stock.

BreakingNews.ie

22 minutes ago

• BreakingNews.ie

Citywest Hotel sale: Two protests planned on Sunday by residents group

Two protests by a residents group are to take place on Sunday outside the former hotel and conference centre Citywest and in Dublin city centre. The protests, the fifth by the Stop Citywest Hotel Purchase group, are aimed at highlighting residents' opposition to the Government's planned multimillion euro purchase of Citywest hotel in Dublin as accommodation for international protection applicants. Advertisement The Minister for Justice, Jim O'Callaghan, announced on Tuesday that the Cabinet approved the purchase of the site for €148.2 million. Mr O'Callaghan's announcement came after several months of negotiations and disquiet among the local Citywest community. A spokesperson for the group posted on social media outlined that they are 'calling on supporters from other counties to join us in a strong show of unity' for a peaceful protest outside Citywest Hotel. The first protest is to take place at 2pm from the Garden of Remembrance at Parnell Square through the city centre and the second at 6.30pm in Saggart village. Advertisement The group is also planning another vehicle protest next week in Mr O'Callaghan's constituency. The Minister highlighted that owning the hotel and conference centre, rather than leasing it, would provide great 'value for money' and long-term saving for the State. He added: 'In a sector that has seen extremely high costs in recent times, purchasing Citywest makes prudent financial sense for the State compared to costs of leasing the site. "The purchase represents a payback period to the State of approximately four years, and over 25 years, the purchase and operating cost model offer savings of more than €1 billion, while delivering a permanent State asset.' Advertisement Mr O'Callaghan said he is 'committed' to reforming Ireland's international protection system to ensure its efficiency and robustness. He noted that a 'stable and sustainable accommodation network' is a central element of that reform. The hotel has been used to accommodate Ukrainian refugees and asylum seekers since 2022. The site has the capacity to accommodate up to 2,300 people. It was first used by the State as a response to the Covid-19 pandemic. Legal action is also being considered by the Stop Citywest Hotel Purchase residents group also based in Saggart. The group held a drive slow protest on the N7 last Friday and a protest outside the Dáil last Wednesday. Advertisement A spokesperson for the group claims that the government's decision to purchase Citywest Hotel and convert it into a permanent refugee centre will have an 'irreversible effect on our village'. Ireland Government to buy Citywest Hotel for €148.2 millio... Read More The spokesperson continued: 'Such an action will not only strain local infrastructure and resources but also place significant stress on both the existing and newly arrived' people. 'Both groups are likely to suffer from inadequate integration efforts, which are essential for fostering mutual understanding and harmony.' The group pointed out that 'transforming such a significant local landmark into a permanent centre is affecting local businesses reliant on tourism and disrupting the quiet ambiance many of us value. It is causing challenges in community integration and our security.' They claim the move will place a burden on public services, such as education, healthcare, and transportation, and that they 'have seen very little help from the Government'.

Times

30 minutes ago

• Times

Will a chatbot give me a job? I put AI recruitment to the test

The pot plant on the filing cabinet behind my interviewer's head needs water. Its curling leaves distract me as the floppy-haired recruiter in a crumpled black polo shirt poses his next question: 'In the role of tax consultant at McKinsey, balancing technical expertise with interpersonal skills enhances client relationships. Can you share an example of how your organisational skills and multitasking have benefited a specific task?' I gabble through my recent work organising a large charity auction in my spare time, while juggling work deadlines and three busy children. The interviewer nods, looking impressed. 'It's fantastic that you bring those soft skills to the table.' The grilling goes well until I hit some actual tax questions and stumble. My two decades in business journalism will not, it's clear, secure me a role as one of McKinsey's newest tax consultants. But thousands of words of post-interview feedback arrive seconds later, and they are gently encouraging. 'You demonstrated your ability to mobilise resources and engage others … but need to practise emphasising how your unique abilities will benefit the company.' Impressive — since the whole recruitment process was carried out by robots. For £70 a month, website Final Round AI offers mock interviews with a human-like chatbot. Its questions are honed to any job listing you provide plus your CV. McKinsey had no involvement with the process, but one of its applicants might well have practised here first. The CV I used was concocted by AIApply, which also makes cover letters specific to the demands of any job posting. A monthly subscription costs £23. Before interviews, it provided a list of likely questions alongside what it deemed perfect answers. No need to learn them, though; for £29.99 a month the Interview Buddy app offers 'real-time assistance during job interviews, helping you answer questions confidently'. Using this app during my mock video interview, it perfectly detects questions and rapidly bashes out uninspiring but detailed and accurate responses. Propping up my phone next to my webcam, I can easily reel off these AI responses to the, er, AI recruiter's questions: This may sound outlandish, but it's happening: TikTok hosts thousands of videos of candidates undertaking real interviews while using ChatGPT-fed answers. Human resources might need to be redefined as inhuman resources: hiring work often pits employers' AI systems against candidates' AI-generated responses. Amid the frenzied talk about how AI is going to transform our working lives, in recruitment, it already has. More than two-thirds of HR professionals use AI at work in the UK, according to research by tech firm The Access Group. That's far higher than in the EU, where it's only 38 per cent of firms, according to European tech firm SD Worx. Anyone who hasn't applied for a job in five years will find being hired is an entirely new process. Applicant tracking systems (ATS) now scan and rank CVs and cover letters based on the inclusion of set keywords to whittle down the number of candidates, meaning a human may never see the majority of CVs sent in for a role. Those who make it through may then face 'asynchronous video interviews', where candidates are filmed answering written questions that flash up like a PowerPoint presentation, before AI systems assess their answers, or chatbot-led interviews, like mine. Recruiters have the upper hand: the number of job vacancies in the UK has dropped from 1.3 million in 2022, to just 761,000 in the three months to April. The concurrent adoption of AI by employers and applicants has created a race to the bottom. Firms are receiving an influx of thousands of chatbot-generated applications, while candidates report feeling dehumanised by the process. 'It was awful,' communications manager Laura Andrews said of a recent AI-led job application for a UK water utility. 'After an automated email saying I had been shortlisted, I had a video interview with a slideshow of questions listed on screen. It was really strange not having any kind of response from an interviewer to know how it was going. Without human interaction, my personality didn't show, and I think for neurodivergent people, it would be very hard.' Weeks later, Andrews still hadn't heard back. 'I was ghosted, which is usual with roles now,' she added. 'I applied for more than 100 jobs in three months, and 80 per cent of the time I heard nothing at all. 'I couldn't contact the interviewer, as they didn't exist. When I chased with the recruiter, I was told it was a 'system error'. That's the flavour of the job search now: being AI-led, companies don't seem to care about candidates. The lack of feedback or even acknowledgement of applications that take hours to tailor felt isolating.' This is a common complaint, according to Amelia Miller, whose start-up, Ivee, helps women return to work after a career break. 'Recruitment used to be a human process. Now, jobseekers are up against AI algorithms. The current market isn't sustainable. Recruitment teams are drowning in job applications with features like LinkedIn's 'easy apply' [which allows candidates to submit their CV in just a few clicks], along with hundreds of emails and messages. I believe this will lead to the death of the job application,' she said. In the US, some recruiters have already moved to 'agentic AI', relying on bots to handle the admin of organising job interviews. But while some claim that AI's transformation of the job search removes human bias, others say it embeds it. University of Washington research used real CVs but varied names associated with white and black jobseekers into AI recruitment systems, and found AI favoured the white-associated names 85 per cent of the time. Female-associated names were picked only 11 per cent of the time. 'If we're not careful, AI will just automate discrimination at scale,' Miller added. Khyati Sundaram, chief executive of the ATS firm Applied, added: 'AI interviewers trained on datasets dominated by American speakers, for example, can be biased against candidates with different accents, non-native English speakers or individuals with disabilities that affect their speech. 'When assessing candidates' facial expressions, eye movement, hand gestures and tone of voice, biased bots can also favour those with a neurotypical communication style. Candidates who communicate differently can be ruled out of the running, regardless of [their] skills… reinforcing existing workforce inequalities.' Not all candidates despise the changes, however. Rachel, a jobseeker who did not want her surname published, said ChatGPT and its rival, Claude, were 'huge timesavers.' 'I used them to refine cover letters, tailor them to job descriptions, and insert the right keywords,' she said. 'Recruiters are using AI, so I need to speak their language to pass the screenings. ChatGPT stripped out my personal attachment to my CV and showed me what was key and what was fluff, and what recruiters would ask me. It takes the legwork out of applications.' To those returning to the job market after a long time, the recruitment landscape will 'feel very alien,' Miller acknowledged. 'The best thing you can do is learn how to use AI. Avoid applying for jobs on inundated sites such as LinkedIn and Indeed, and turn towards company websites and niche job boards to lessen the competition. Focus on building your network: ask for warm introductions and leverage the human element of recruitment as much as you can.' The job market is being taken over by algorithms, but for now, the human touch still opens some doors. 'The market's more competitive than ever and the sheer number of tools and platforms can feel overwhelming,' says Kevin Fitzgerald, UK managing director of recruiter Employment Hero. 'Your CV has to be AI-literate.' Here are his tips on how to get it right: Match the job description: Use the exact keywords and phrases from the job ad, especially for skills, tools and job titles. Keep formatting simple: Stick to clean layouts. Avoid graphics, columns etc, as they can confuse Applicant Tracking Software. Stick to Word or PDF. Use specific, hard skills: List tools or certifications relevant to the role such as Xero, Python, CRM management. Quantify your achievements: Add real numbers where possible such as 'cut costs by 15 per cent' or 'trained five new hires'. Avoid generic buzzwords: Terms such as 'motivated' or 'team player' don't help. Use language that's specific and meaningful. Tailor your CV every time: Make slight edits for each application. Use AI tools but edit carefully: ChatGPT and other AI tools can help draft or refine your CV, but always review for tone, accuracy and clarity. It should still sound like you.