First Peter Hamilton has a roundup of the week's major business news including the conviction of former Anglo Irish Bank CEO David Drumm, more data problems for Facebook, Italian markets and the collapse of building company Sammon.

Then our markets correspondent Joe Brennan explains how the proposed acquisition of Smurfit Kappa by IP fell apart and what comes next.

Finally we're joined by Seamus Coffey, chairman of the Fiscal Advisory Council, and business journalist Eoin Burke Kennedy to talk about the latest FAC report which paints a positive picture of the Irish economy. But the underlying weak budgetary position has not changed, says Mr Coffey.