- Howard Mustoe
- Matthew West
Last updated 9 July 2014Share
06:00Howard Mustoe, Business reporter
Good morning all! We'll be bringing you all the best business and economic news this morning, so stay with us.
06:00Matthew West, Business reporter
Morning one and all, if you want to get in touch you can do so via bizlivepage.co.uk or @BBCbusiness on twitter. Do send us your views on the latest news.
Australian mogul James Packer's £800m Sydney casino has been approved by the state gaming regulator, taking it one step closer to winning final approval. Billionaire Mr Packer, who runs Crown - a worldwide gambling empire already operating casinos in Melbourne, Perth and Macau - won backing from the New South Wales Independent Liquor and Gaming Authority.
06:08 TURNING JAPANESERadio 5 live
Over at BBC 5 live's Wake up to Money Charles Elvin, chief executive of the Institute of Leadership and Management, has been explaining how we're all working longer hours. In Japan leaving the office last is treated as a competitor sport and the fastest way to promotion. But Mr Elvin says most managers prefer quality of work over quantity of hours worked, adding: "We all know if you're tired and stressed the quality of the work you do goes down."
06:24 MARKET UPDATE
Hong Kong stocks tumbled 1.24% after Chinese inflation came in below forecast in June and following a second day of declines on Wall Street. The benchmark Hang Seng Index fell 292.95 points to 23,248.43. Tokyo stocks slipped 0.25%. The Nikkei 225 index fell 38.16 points to 15,276.25.
06:38 TURNING JAPANESERadio 5 live
Mr Elvin tells Wake up to Money people are working longer partly as a result of concerns over job security since the financial crisis. He says that has also led employers to look at cost control with managers asking themselves whether certain roles really need to exist. And he says technology means that we're all more connected to the office than in the past, meaning many people are answering emails on smartphones long after they've gone home for the day.
06:46 INTEREST RATESBBC Radio 4
Jonathan Portes of the National Institute of Economic and Social Research is on the Today Programme talking about interest rates. "There's some overheating in the housing markets," he says, but hiking rates to kill off "a little bit of froth in the London market" may be a bit heavy-handed."
06:57 RECOVERYBBC Radio 4
More from Mr Portes. "We are seeing a reasonably strong cyclical recovery," he says. But there are still "the structural weaknesses of the UK economy, weak exports," to deal with. Not enough houses, which lends the market to bubbles, is a problem too, he adds.
07:14 AIRBUS INVESTIGATION
The Financial Times has reported that the Serious Fraud Office has made arrests and questioned six individuals as part of a long-running investigation into alleged corruption in Saudi Arabia by a subsidiary of European Aerospace and Defence Group Airbus, GPT Special Project Management.
07:29 FOOD PRICESRadio 5 live
Professor Michael Waterson of Warwick University, who specialises in retail prices, tells Wake up to Money the strong pound and lower commodity prices are the two main contributors to lower food prices in the UK. Food prices are rising at the slowest pace since 2006 according to the British Retail Consortium, which Professor Waterson says, is also partly the result of competition between supermarkets.