Morning business news with Conor Brophy

Morning business news - December 19

19 Dec Aer Lingus shares closed almost 9% higher yesterday evening as it emerged the airline had received a takeover approach from IAG - the owner of British Airways.

A look at some of today's business stories in the newspapers

Today in the press

19 Dec The inclusion of one additional pay and pensions day in public expenditure next year for "technical" reasons will cost the exchequer some €300 million, Government documents show.

Rob Wright said the budgetary process was overwhelmed by programme for governments and social partnership

Inquiry told of 'startling' lack of written advice

18 Dec Former Canadian deputy finance minister Rob Wright has told the Banking Inquiry it was startling that there was very little consistent written advice in the Department Of Finance other than annual memoranda to Cabinet.

The interest rate increase this week failed to halt the drop in the rouble

Putin assures Russian economy will rebound

18 Dec Russian president Vladimir Putin assured the country's citizens that the economy would rebound after the rouble's dramatic slide this year but offered no remedy for a deepening financial crisis.