A new survey from Chambers Ireland says that trade is down by 50% for businesses that reopened in the first phase of restrictions being lifted.

It also found that a quarter of respondents expect to have earnings that will be 70% lower than usual over the next three months.

Ian Guider, markets editor of the Business Post, joined us with this story and more in our daily business update, including:

• Banks have been given a month to come up with plans to deal with customers in mortgage arrears
• The European Central Bank is considering a 'bad band' to remove COVID-19 related loans from banks