AIB, Ulster Bank, Bank of Ireland, Permanent TSB and KBC have announced a three-month suspension of mortgage and business loan repayments for customers affected by COVID-19.

The agreement was reached following a meeting with Finance Minister Paschal Donohoe today.

Ian Guider, markets editor of The Business Post, brought us this story and more in our daily business news round-up, including:

• Global stock markets are in turmoil again
• More retailers close their doors
• Dublin City Council chief executive Owen Keegan warns rates and rent freeze will see Dublin City run out of money
• Sky bows to pressure from publicans over sport fees
• Ryanair announce most flights will be grounded by 24 March

Listen to the interview in full by pressing the play button on this page.