Opening Bell: AIB's next mortgage rate cut, British artists' call to 'stay,' NAMA leaks

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AIB is reported to be planning an additional cut in its variable mortgage interest rates before the latest one has come into effect.

Today's Irish Times reports that Minister for Finance, Michael Noonan told reporters that the second cut will be announced, "fairly soon."

"As AIB becomes more profitable, as the cost of funds remains very low, I think there’s the possibility of a further cut," he added.

Rates have been cut four times in the last 18 months by the 99% State-owned bank.


Film directors, actors, comedians and artists are named in a letter to The Guardian backing the 'stay' campaign in the UK's in/out vote on EU membership.

The movie directors named include Danny Boyle, Mike Leigh and Richard Curtis, along with writers including spy author John le Carre.

Film actors include Benedict Cumberbatch, Bill Nighy, Dame Kristin Scott Thomas, Helena Bonham Carter, Jude Law, Juliet Stevenson and Keira Knightley.

Three knights of the screen - Sir Derek Jacobi, Sir John Hurt and Sir Patrick Stewart - are named, along with comedians Eddie Izzard, Jo Brand and Steve Coogan, and the Poet Laureate, Carol Ann Duffy.

"From the Bard to Bowie, British creativity inspires and influences the rest of the world. We believe that being part of the EU bolsters Britain's leading role on the world stage ... Let's not become an outsider shouting from the wings," the artists write.


Developer Paddy McKillen is sueing The National Asset Management Agency (NAMA) following the leaking of information about his businesses during his time as a debtor with the State body.

This comes after the conviction of former NAMA official Enda Farrell, who pleaded guilty to eight counts of unlawfully disclosing information during the summer of 2012, he received a two-year suspended sentence.

Information regarding Mr McKillen's businesses was leaked to investment companies.

Commenting on the issue, Minister for Finance, Michael Noonan said that NAMA does not believe that losses were incurred as a result of the leaks and NAMA has no plans to offer compensation.


Around 90,000 Luas commuters are being forced to find different ways to get to work today, as tram drivers are on strike.

It's the 12th strike day in the long-running pay dispute, with further stoppages planned this month and next.

The company says three of four staff grades have accepted the new pay offer.

Managing Director of Luas operator Transdev Gerry Madden, says the strikes have financial consequences for pay deals: