President Vladimir Putin assured Russians the economy would rebound after the ruble’s dramatic slide this year but offered no remedy for a deepening financial crisis.

Russia has cut off gas supplies to Ukraine as a payment deadline passed and negotiators failed to reach a deal on gas prices and unpaid bills amid continued fighting in eastern Ukraine.

Russia has cranked up the pressure by ending discounts on its natural gas supplies, while the US and European Union offered quick-fix aid to the beleaguered government.

The American pilot of the passenger jet that crashed in Lagos, Nigeria, on Sunday reported engine trouble shortly before the crash, airline officials said.

Shedding 2,000 jobs, restoring shaken morale, changing a disastrous culture and rebuilding the bank’s battered business are just some of the difficulties incoming AIB chief executive David Duffy will have to overcome, reports Kyran Fitzgerald

PORTSMOUTH executive directors are close to securing funding for wages owed to players – but new owner Sulaiman al Fahim has been told refinancing the club and paying staff on time is ultimately his responsibility.

The Minister for Enterprise, Micheál Martin, has announced that Irish firms who participated in the Enterprise Ireland Trade Mission to South Africa will win €35m worth of contracts over the next two years.

WORLD oil prices fell yesterday, resuming a two-week slide as rising crude inventories eased concerns over winter fuel supplies.