Business Live: Bank of England maintain slow rates

Live text

Reporting:

  • Joe Miller 
  • Rebecca Marston 

Last updated 6 March 2014

STANDARD 06:00

Joe Miller, Business Reporter

Good morning. At an emergency summit today, David Cameron and other EU leaders will be under pressure to introduce punitive sanctions against Russia as the crisis in Crimea continues. In the US, Republicans are urging President Obama to seek sanctions too.

STANDARD 06:01

Rebecca Marston, Business reporter, BBC News

Hello from the other half of the Business Live team. On the domestic front, rules on peer-to-peer lending - or crowdfunding - will be introduced for the first time later. Oh, and the Bank of England will give its interest rate decision, no move expected by almost anyone. Get in touch with us on bizlive@bbc.co.uk or @bbcbusiness.

STANDARD 06:08 SHELL SAYS STAY

Shell Petrol

The chief executive of the oil giant Shell has said he would like Scotland to "remain part of the UK". Ben van Beurden said he valued the "stability and certainty" the UK offers his business as a country within the EU.

STANDARD 06:19 BITCOIN DEATH

The American chief executive of First Meta, a virtual currency exchange based in Singapore, has been found dead at her home, police say. Autumn Radtke, 28, had worked with Silicon Valley firms before moving to the country. The cause of death is, as yet, unconfirmed.

STANDARD 06:30 CROWDFUNDING

Radio 5 live

Wake up to Money is hearing from the founder of a peer-to-peer lender - a website that puts together lenders and borrowers - on the day the first rules governing the sector will be announced. James Meekings, co-founder of Funding Circle tells Mickey and Adam he's been lobbying for regulation

STANDARD 06:35 TELEKOM CALLS AMERICA

TELEKOM

German telecoms giant Deutsche Telekom reportes net loss of 752m euros for the last quarter of 2013. The cost of merging MetroPCS and T-Mobile USA hit the company, but it also gives them 40% more customers in America.

STANDARD 06:44 ABU DHABI DELAYS

Abu Dhabi International Airport

Dense fog in the United Arab Emirates has brought Abu Dhabi airport to a standstill. Etihad Airways says all flights into the international airport are being diverted to other hubs in the region, because of a technical failure. Delays to departing flights are expected for the rest of Thursday. Check your flight status here.

STANDARD 06:55 SHADOW BANKING

Radio 4

The BBC's chief business correspondent Linda Yueh is on the Today programme, taking a good look into China's shadow banking sector - one that has boomed in recent years - although no-one knows how big it is. She says one reason it has mushroomed is because the state-owned banks offer meagre interest rates.

STANDARD 07:03 SHADOW BANKING

For more information on what shadow banking actually is, see this Bloomberg explainer, which sums it up rather well. Basically, the term refers to activities that "flourish outside the regular banking system and often beyond the control of regulators and monetary policy".

STANDARD 07:11 INVESTMENT

Radio 5 live

Legal and General has been talking to Adam Parsons on Wake up to Money, expanding on its statement yesterday that it would like to invest more in the UK. Nigel Wilson, chief executive said: "Its a difficult position where everyone is really unsure about the future. What's going to happen in 2015 if the Labour Party gets in? What will happen to energy and housing policy?"