The business stories that made the news in 2014

Downfall of O'Reilly
Sir Anthony O'Reilly was forced to sell of his assets to meet his debts, largely accrued in the fight with Denis O'Brien for control of IN&M. With the banks circling and creditors looking for more than €195million owed to them, he put Castlemartin, his Co Kildare estate, on the market following a Commercial Court judgment for €22.6 million in favour of AIB in June. It was an inglorious end to one of Ireland's stellar business careers. Photograph: Cathal McNaughton/PA

John Rusnak interview Rogue trader John Rusnak cost AIB $691 million back in 2002. He subsequently served time in prison for his activities and was let out in 2008 with time off for good behaviour. He is now running a laundry business that employs former prisoners and recovering drug addicts. In a frank interview he discussed what happened; how is life and career unravelled and his Christian beliefs. Photograph: The Baltimore Sun

Trichet letters The failure until November to publish a series of letters between then president of the European Central Bank Jean Claude Trichet and former Irish finance minister Brian Lenihan had led to all sorts of conspiracy theories about the IMF-EU bailout. In the event, the letters included a threat by Trichet that the European Central Bank would cut off emergency funding to the Irish banking sector on which it relied, unless the government agreed to a bailout.Ireland formally entered the bailout the following week.

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Oil prices The price of crude oil dropped sharply in June as demand in Europe and, notably, China decreased just as increasing shale oil production in the United States was softening the market. Despite the ensuing supply glut, Opec voted not to cut production, ignoring the pleadings of some smaller oil revenue-dependent states, with Saudi Arabia arguing that the market would correct itself. Having traded at $100 a barrel, Brent crude is now hovering around the $60 barrel level, with analysts sceptical about any substantial recovery in the short term. Photograph: Andrey Rudakov/Bloomberg 

Lux Leaks 
On Thursday November 6th, the publication of Luxembourg Leaks documents revealed the tax-avoidance schemes of multinationals, including Glanbia, CRH, Pepsi and Ikea. It reignited the debate on corporate tax and heaped pressure on Jean Claude Juncker. There were fresh details in December followed by the arrest of Frenchman Antoine Deltour who admittted to leaking the PwC documents.

Alibaba flotation
Fifteen years after it was founded in a one-bedroom flat in China by former English teacher Jack Ma, internet trading company Alibaba became Wall Street's biggest flotation. After jumping 36 per cent as the shares started trading on Septermber 19th, the company was valued at more than Amazon and eBay combined. The shares have since hit $120 before coming back a little. Photograph: Todd Heisler/The New York Times

Wilbur Ross sells his shares in B of I
US billionaire Wilbur Ross sold his remaining Bank of Ireland's shares, garnering a profit of €477 million on an initial investment of €290 million. Minister for finance Michael Noonan said: "We will bide our time and I have no current plans to start selling down our investment." Photograph: David Sleator

Uber gets going over a pint
Over a pint in Bruxelles pub on Dublin's Harry Street during the 2011 Web Summit , investor Shervin Pishevar won over American entrepreneur Travis Kalanick with his Uber ride-sharing idea. Pishevar subsequently signed a deal to invest $26.5 million in Kalanick's start-up. It is now valued at $18 billion.

O'Flynn vs Blackstone
US fund Blackstone moved in August to take control of Michael O'Flynn's property and construction empire, placing its trading companies under the High Court's protection and appointing receivers to some other elements. In December both sides agreed to adjourn their legal battle until January 30th, 2015. Photograph: Daragh Mac Sweeney/Provision

Obama gets tough on corporate tax
Ireland was one of the main targets when, in September, President Obama announced a crackdown on "corporate inversions" where US companies moved their domicile to other countries by taking over smaller businesses. A plan by US pharma company Abbvie to buy Irish drug maker Shire was one of the casualties.