Business Live: New HS2 report plus headlines

Live text

Reporting:

  • Ian Pollock 
  • Edwin Lane 

Last updated 17 March 2014

STANDARD 0600

Edwin Lane, Business reporter, BBC News

Good morning all. There's another report into the HS2 project up for discussion this morning, plus George Osborne and Ed Balls get the ball rolling ahead of Wednesday's budget. We'll be here until 13:00.

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Ian Pollock, Business reporter, BBC News

And good morning from me. Another gruelling day at the digital coalface awaits us. We love it really. Contact us this morning on bizlivepage@bbc.co.uk or on Twitter @BBCBusiness.

STANDARD 06:06 UK MANUFACTURING

Radio 5 live

There's a very upbeat report this morning from the manufacturers trade body the EEF. A survey of its members reports strong growth due to rapidly rising exports. The EEF's chief economist Lee Hopley tells Wake Up to Money that "we've seen a solid upturn in activity in the first three months of this year... Definitely there's a clear expectation that things are going to strengthen over the coming quarter."

STANDARD 06:11 ALIBABA

BBC World News

Alibaba - a sort of Chinese version of eBay - has announced plans to float on a US stock market. That's seen as a blow for Hong Kong, the BBC's Ali Moore in Singapore tells World Business Report. Hong Kong has stricter one-share one-vote rules compared to the US, she says, which has put Alibaba's management off. They want to retain more control over the company.

TWEET ALIBABA Via Twitter

Kim Gittleson, BBC reporter, Singapore

tweets: ""We are proud of our tradition of respect for the rule of law" says Hong Kong stock exchange after Alibaba burn bbc.in/1obFaZG"

STANDARD 06:20 HOUSE ASKING PRICES

Property sellers are cashing in on the revival in property sales by jacking up their asking prices. The property website Rightmove, which advertises most homes for sale, says the average asking price in England and Wales rose 1.6% in the past month to £256,000. That's 7% more than a year ago. In London the average asking price is a whopping £552,000.

STANDARD 06:27 UKRAINE

BBC World News

Nina Schick, analyst at the think tank Open Europe, tells World Business Report that the EU could impose targeted sanctions on Russian individuals in response to its actions in Crimea. But she says the huge trade links between Russia and Europe mean there won't be sanctions on Russia as a whole.

STANDARD 06:36 HS2

Radio 4

Robbie Owen, a lawyer for Pinsent Masons who represents some of the opponents of the HS2 project, tells the Today programme that the Higgins report could be a turning point. "I think potentially a lot changes," he says. "It is the best articulation of the case for HS2 I have read since the project started in 2009."

STANDARD 06:41 FOREX PROBE

The Financial Times reports that foreign exchange trading teams at several big banks have seen their bonuses put on hold amid the banks' own investigations into the possible manipulation of foreign exchange trades. Barclays, Citigroup and Royal Bank of Scotland (RBS) have all frozen bonuses, the paper says, while internal investigations are ongoing.