The number of people on the Pandemic Unemployment Payment has fallen sharply since early May.

According to figures from the the Department of Employment Affairs and Social Protection, 313,800 people will receive the payment this week, down from 598,000 at the beginning of May. It's a drop of 31,800 in the last week.

Ian Guider, markets editor of the Business Post, joined us with this and more of the day's business stories, including:

• Rent freeze set to be extended, but only until the start of August
• Cuisine de France owner Aryzta has received takeover approaches as its chairman bows to pressure to leave
• Marks & Spencer to cut nearly 1,000 jobs from its London headquarters