Merrill Lynch's Irish arm appears to have cancelled its Christmas celebrations. It is understood that the company has pulled the plug on its staff party at the Guinness Storehouse, forfeiting a €20,000 deposit in the process. Bah humbug.

Accountants Farrell Grant Sparks have been engaged by Aer Lingus's Esot to advise on Ryanair's latest move on its rival. Aer Lingus is being advised by Goodbody Stockbrokers and Goldman Sachs.

Ryanair's offer to reinstate the Shannon-Heathrow route if it gets control of Aer Lingus must have grabbed the attention of British Airways' boss Willie Walsh. BA is believed to have earned about £6 million annually from its code-sharing deal with Aer Lingus, which enabled passengers from Shannon to interconnect with its impressive network of long-haul connections.

Sticking with the aviation theme, Flybe is pulling the plug on its Dublin-Norwich route, although links to Exeter and Southampton will remain. Czech Airlines last week informed its staff in Dublin that it was axing its flights from here in January.

The credit crunch is impacting our legal eagles. Leading firm AL Goodbody is now offering trainee solicitors one-year contracts, in line with its peers. Partners and other senior management are also having their bonsues cut.