breaking bad news: when news sources go bad

Published Categorized as breaking news

AIB site feed by business & finance points to a Reuters report that an un-named AIB spokesperson said we’re not do’in the 3 year bond after all.

I used to clock in to work and ask for no one to tell the boss I was in, is this the same.? Or could it be that if the AIB wrote their own news then B&F and Reuters would have to sack the carrier pigeon and the pigeon would have to leave the AIB logo? an un-named source at said he is suspicious of this type of bad news breaking, Jo Moore of British Labour Party spin department said 9/11 was a good day to bury bad news, perhaps this way is a good way to do it. Or may be it was until i noticed it on the said banks own corporate site.

20/11/2007 : 16:06:35 AIB postpones 3-year bond on ‘turmoil’

AIB Mortgage Bank, a unit of AIB, has today postponed plans for a three-year covered euro bond issue, citing “unfavourable market conditions”.

A Reuters report this afternoon quoted an un-named AIB spokesperson as saying: In light of the extreme volatility in the credit markets, AIB Mortgage Bank has decided not to proceed for the time being with its planned covered bond transaction”.

The move to postpone the bond marks the first instance where AIB has acknowledged the negative effect of the global credit crunch on its operations.

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