Business Live: Living standards warning plus headlines

Live text

Reporting:

  • Edwin Lane 
  • Ben Morris 

Last updated 31 January 2014

BREAKING TOP STORIES

STANDARD 0600

Ben Morris, Business Reporter

Good morning. We'll see if BT's investment in football is paying off when it reports results later. Also the discussion over wages goes on. Stay with the Business Live page.

STANDARD 0600

Edwin Lane, Business reporter, BBC News

Good morning everyone. The IFS has weighed in on the debate over the cost of living, saying living standards will not reach pre-crisis levels before the next election. We'll have plenty on that plus the rest of the headlines. Get in touch with us on bizlivepage@bbc.co.uk or @BBCBusiness on Twitter.

STANDARD 06:05 LIVING STANDARDS

Radio 5 live

Household incomes are still 6% lower that they were in 2008 according to Paul Johnson, director of the Institute for Fiscal Studies (IFS). On Wake Up to Money he says it's "unprecedented" for incomes to recover so slowly after a downturn. His research shows top earners have lost 9%, those at the bottom have lost 2%, but those falls have now eased.

STANDARD 06:10 US FED

BBC World News
US Federal Reserve

Discussion of the US Federal Reserve's winding down of economic stimulus measures continues this morning. Simon Derrick from Bank of New York Mellon tells World Business Report that the gradual reduction of QE is "pretty much set in stone" but US interest rates are unlikely to rise until at least 2015.

STANDARD 06:13 GOOGLE RESULTS

Google HQ

Google has reported fourth quarter profits of $3.38bn (£2.05bn), up 17% from a year earlier and helped by stronger advertising revenue. The company reported a widening loss of $384m in its Motorola Mobility unit, compared to $152m in 2012. Two days ago it surprised most people by agreeing to sell that business to China's Lenovo.

STANDARD 06:17 BT

Radio 5 live

BT releases third quarter results at 07:00. On Wake Up to Money Douglas McNeil, investment manager at Charles Stanley, reminds us that 45% of BT's revenue comes from UK households. He says BT is hoping that its new football offerings will help it sell broadband services to those customers and attract new ones.

STANDARD 06:24 JAPAN

BBC World News

After years of deflation, rising prices count as good news in Japan and in December inflation rose to 1.3%. The BBC's Rico Hizon in Singapore says this could be further evidence the economic recovery in Japan is gaining momentum. But a closer look at the numbers suggest much of that inflation is due to the higher cost of imported food and fuel.

STANDARD 06:30 US FED

Raghuram Rajan

A report says that India's central bank governor Raghuram Rajan has criticised the way the US Federal Reserve is winding down stimulus measures because of the impact that is having on emerging markets. He says "international monetary co-operation has broken down" according to the Financial Times.

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STANDARD 06:48 TUNGSTEN

Radio 4

An Australian company called Wolf Minerals is opening a Tungsten mine outside Plymouth - the first metals mine to open in the UK in 40 years. Chief executive Russell Clark tells Simon Jack rising prices have made it economical to mine the metal again. "It's 10km from Plymouth, the local pub is called the Miner's Arms, so mining is part of the landscape in that area," he says.