Latest news with #Moynihan
Irish Independent
5 days ago
- Automotive
- Irish Independent
Planning permission granted to improve parking facilities and public transport options at Cork train station
In October 2024 Iarnród Éireann lodged a planning application to improve parking facilities and public transport set down areas at Millstreet Train Station. The application lodged with Cork County Council, requested permission to provide an additional 46 parking spaces at the station, seven of which will be EV charging stations. The works will also include the provision of ten bicycle parking spaces, a bicycle shelter and the creation of a bus set down/interchange facility. Subject to funding being allocated, it is anticipated that construction will commence in late 2025 and will be completed in mid-2026. Fianna Fáil TD for Cork North West Aindrias Moynihan welcomed the 'good' news for the train station which caters for a vast hinterland. 'It is good news for Millstreet with Cork County Council granting Irish Rail planning permission for a range of upgrade works at Millstreet Train Station. These planned works will include car parking, improved bus and cycle access for people using the station." Deputy Moynihan said Millstreet Train Station offers a great service. 'This is a big milestone in improving public transport locally. It is important to note that people still have the right to appeal this decision. Irish Rail submitted the planning application last year and their next step will be to secure funding from the National Transport Authority (NTA) to progress to construction. 'As a regular user of the local train service, I'm very conscious of the great service it offers as well as the pressure in sometimes accessing parking. Last summer I was pleased to show the Minister for Transport the site and the plans. I have continued to pursue this on behalf of locals. There is still lots of work ahead yet, but a big milestone has been reached,' he added.
Irish Independent
5 days ago
- General
- Irish Independent
Cork town's roadworks ‘causing concern' among locals worried about introduction of one-way system
The confusion relates to the Chapel Hill road, running between Main Street and The Orchard The route connects to the New Road, which is currently closed until Friday, July 25 to allow Cork County Council to install traffic calming and pedestrian improvement measures on the route. Locals are concerned that the Chapel Hill road will become a one-way route after the works finish, and cause traffic chaos in the town. However, a one-way system will not be put in place on the road. Following the works, traffic will flow westward only on the New Road, from Chapel Hill. Fianna Fáil councillor for Macroom, Gobnait Moynihan, told The Corkman that confusion over the system that will be on the road is 'causing concern'. 'It has been brought to my attention that people are concerned that once works are finished that there will be restrictive movements on Chapel Hill. There won't be,' she said. 'It will be a two-way system like it always is – it is just the New Road that will be a one-way system. 'You will be able to go up and down Chapel Hill once the works are finished.' The councillor said there will be ramps along Chapel Hill to keep the speed of cars lower and make the road safer for pedestrians. 'Cars will still be able to go up to The Orchard or go down to the school or the church by using the road the same way as before,' Cllr Moynihan explained. Traffic Management is in operation as works continue on the New Road, which may result in the introduction of temporary lane restrictions and traffic control during off peak times. The works are funded by the National Transport Authority under Safe Route to School (SRTS), which is designed to encourage as many primary and post-primary students to walk, cycle and wheel to school.
Time of India
6 days ago
- Business
- Time of India
Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations
Some large U.S. lenders, including Bank of America and Citibank, are working on launching stablecoins at a time when the country is looking to adopt more crypto-friendly CEO Brian Moynihan said on Wednesday the bank is working on launching a stablecoin, and investors can expect the lender to move forward with it, without giving a a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar and are commonly used by crypto traders to move funds between tokens."We feel both the industry and ourselves will have responses. We've done a lot of work," Moynihan, CEO of the second-largest U.S. bank, said."We are still trying to figure out how big or small it is, because in some places there are not big amounts of money movement. So you would expect us all to move, our company to move on that," Moynihan told analysts on a post-earnings conference said Bank of America was trying to understand client demand, which was not high currently, and would roll out a stablecoin at an appropriate time, likely in partnership with other players. He compared banks' interest in stablecoin with their adoption of peer-to-peer digital payments platforms such as Zelle and Venmo.U.S. President Donald Trump has promised to be the "crypto president," popularizing its mainstream use in the country. A series of crypto industry-friendly bills is expected to progress through Congress this week, paving the way for digital assets to potentially further integrate into traditional of the most notable is a bill that would establish a regulatory framework for stablecoins and is likely to advance to Trump's desk for banks are still awaiting legal clarity, Moynihan said, explaining why progress has been slower than some investors Stanley Chief Financial Officer Sharon Yeshaya said on Wednesday the bank was following stablecoin developments closely."We're looking both at the landscape, the uses, and the potential uses for our own client base. But, it really is a little early to tell, especially for the businesses we run versus businesses that you might see from competitors, on how a stablecoin would play in," she added. Citigroup CEO Jane Fraser also said the bank may issue a stablecoin to facilitate digital payments."We are looking at the issuance of a Citi stablecoin," she told analysts after reporting earnings on Tuesday. "This is a good opportunity for us."JPMorgan Chase CEO Jamie Dimon, who has been a vocal skeptic of bitcoin, said on Tuesday the bank will be involved in stablecoins, without giving details.
Irish Independent
6 days ago
- Politics
- Irish Independent
Add language conditions to Cork Gaeltacht planning approvals
Cllr Gobnait Moynihan made the call at this week's meeting of Cork County Council as the councillors considered the Chief Executive's report on a proposed housing development in the West Cork village of Ballyvourney. 'This housing development is in Ballyvourney and that's in the Gaeltacht. A Gaeltacht is only there because people speak Irish on a daily basis. If the level of Irish isn't kept, then the status can be gone like that or the boundary of the Gaeltacht can be cut in half. So it's very important,' Cllr Moynihan said. 'The problem I have with it [the proposed development] is that there's no language conditions on the planning. A language condition is that you would put a certain percentage of these houses aside for people who speak Irish on a daily basis.' The Fianna Fáil Councillor said the requirement for Councils to put language conditions in place in Gaeltacht areas came into effect back in 2000: 'This is not something new, this is something that's happening all around the country and all the other Gaeltachts, except in Cork County Council.' Cllr Gearoid Murphy supported Cllr Moynihan's call: "Unfortunately, we are, as far as I'm aware, the only local authority that doesn't have specific language surrounding Gaeltacht and Irish language requirements in relation to multi-residence developments in the Gaeltacht. And I think that's something that we need to look at remedying as a matter of urgency." Cllr Michael Creed said that when the Macroom Municipal District was briefed on the proposed development in Ballyvourney, 'we got a commitment from the people that were at the meeting that they would seriously consider native Irish speakers.' Responding to Cllr Moynihan's call, Cork County Council Chief Executive Moira Murrell said that language conditions in relation to planning permission would need to be specified within the County Development Plan. 'It would require a specific percentage being assigned within the plan to a particular part of the Gaeltacht that would say that X percent of houses built in this area, public or private, would be allocated for Irish speakers,' she said. The Chief Executive said she will come back to the Council with information on how best to alter the County Development Plan so that it allows language conditions going forward.
The Star
6 days ago
- Business
- The Star
Bank of America expects to launch stablecoins as Morgan Stanley weighs use
FILE PHOTO: Brian Moynihan, chair of the board and CEO of Bank of America, speaks during The Clearing House Annual Conference in New York City, U.S. November 13, 2024. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) -Bank of America has been working on stablecoins like the rest of the industry and investors can expect the lender to move forward on this, CEO Brian Moynihan said on Wednesday, without giving a timeline. "We feel both the industry and ourselves will have responses. We've done a lot of work," the CEO of the second-largest U.S. bank said. "We are still trying to figure out how big or small it is, because in some places there are not big amounts of money movement. So you would expect us all to move, our company to move on that," Moynihan told analysts on a post-earnings conference call. Stablecoins, a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar and are commonly used by crypto traders to move funds between tokens. Moynihan said Bank of America was still trying to understand client demand, which was not high at this point, and would roll out a stablecoin at an appropriate time, likely in partnership with other players. U.S. President Donald Trump has promised to be the "crypto president," popularizing its mainstream use in the country. Meanwhile, Wall Street lender Morgan Stanley said that it was still weighing its options. Chief Financial Officer Sharon Yeshaya said the bank was following stablecoin developments closely. "As you would expect we are actively discussing it. We're looking both at the landscape, the uses and the potential uses for our own client base. But, it really is a little early to tell, especially for the businesses we run versus businesses that you might see from competitors, on how a stablecoin would play in," she added. (Reporting by Nupur Anand in New York. Additional reporting by Manya Saini in Bengaluru. Editing by Mark Potter)
