Business Live: Monday 12 May 2014

Live text

Reporting:

  • Ben Morris 
  • Howard Mustoe 

Last updated 12 May 2014

STANDARD 06:00

Ben Morris, Business Reporter

Welcome to Monday's Business live page. Interest rates are set to head higher early next year, according to the employers' group, the CBI. More on that this morning. Stay with us.

STANDARD 06:00

Howard Mustoe, Business Reporter

Good morning. You can get in touch with us via bizlivepage@bbc.co.uk or @BBCBusiness

STANDARD 06:02 INTEREST RATES

Radio 5 live

On Wake Up to Money John Cridland, Director General of the employers' organisation, the CBI. His organisation brought forward its forecast of an interest rate rise to the first quarter of next year. He says entrepreneurs are "feeling more confident", and business investment is increasing.

STANDARD 06:06 STRAWBERRIES

BBC Radio 4
strawberry picking

The strawberry season has begun early this year, reports Farming Today on Radio 4. The berries are also sweeter than usual because of favourable weather. "It's been "not too hot and not too cold," says strawberry farmer Jan Butterly. She adds that it's not easy to find staff to pick strawberries, because it's tough work.

STANDARD 06:11 PFIZER TAKEOVER

Radio 5 live

It would be quite straightforward for the government to intervene in Pfizer's effort to takeover AstraZeneca, says Philip Rogers, corporate partner at Clyde & Co on Wake Up to Money. It could extend the existing current public interest laws. A bill would have to be approved by both houses of parliament, but the measures would effectively kick-in when the bill was presented, he says.

STANDARD 06:24 PFIZER TAKEOVER

Astra logo

On Wake Up to Money John Cridland, Director General of the employers' organisation, the CBI, also comments on Pfizer's effort to buy AstraZeneca. He hedges his bets. Open markets are good but "we mustn't lose our science base", he says. The government should get assurances, but not necessarily intervene, he thinks.

STANDARD 06:35 CENTRICA AGM

BBC Radio 4
centrica

British Gas owner, Centrica, will host its annual general meeting this afternoon. Nick Butler, a professor at King's College London and former BP executive talks to the Today programme. Its full-year profits are likely to be lower than forecast. "In the short term it's an issue of low demand," he said. That's due to a mild winter. Compounding this is the government's preference for renewables, which isn't the gas company's focus.

STANDARD 06:47 BARCLAYS INVESTIGATION

Bob Diamond

Former executives of Barclays, including chief executive Bob Diamond are to be questioned by the Serious Fraud Office (SFO), according to the lead story on the Financial Times. The SFO is accelerating its investigation into the way the bank raised money in 2008 from Qatar, according to the report.

STANDARD 06:56 AIRCRAFT TRACKING

Inmarsat screen

UK satellite operator Inmarsat is to offer a free, basic tracking service to all the world's passenger airliners. The offer follows the loss of Malaysia Airlines flight MH370, which disappeared without trace on 8 March. It would determine a plane's location using GPS and then transmit that data - together with a heading, speed and altitude - over Inmarsat's global network of satellites every 15 minutes.

STANDARD 07:04 PFIZER TAKEOVER

Radio 5 live

On Radio 5 live presenter Adam Parsons reminds listeners that bosses of Pfizer and AstraZeneca will be answering questions at the Business Select Committee on Tuesday. He mentions comments from Prime Minister David Cameron over the weekend, who said his government was working to get "good guarantees and the best deal for Britain". Pfizer has until 26 May to make a firm bid, or back away.