23 September 2014 Last updated at 06:47

Phones 4U to shed almost 1,700 jobsPhones 4U logo

Almost 1,700 jobs are to go at the failed mobile phone retailer Phones 4U, after the firm's administrators confirmed that 362 stores will close.


President Barack ObamaUS crackdown on overseas tax deals

The White House announces new treasury department measures aimed at stopping companies avoiding US taxes by merging with overseas firms.

Coal-fired power stationRockefellers to divest fossil fuels

The Rockefeller family, which made its fortune from oil, is to sell its investments in fossil fuels and put money into clean energy.

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Robert Peston Article written by Robert Peston Robert Peston Economics editor

Can Balls be just austere enough?

Can Ed Balls persuade investors he would reduce Britain's public sector deficit just enough, while not demoralising Labour supporters who want an end to the long years of austerity?

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Kamal Ahmed Article written by Kamal Ahmed Kamal Ahmed Business editor

Tesco's chairman 'shocked' by accounts mess

BBC Business Editor Kamal Ahmed has learned that Tesco's chairman described the accounting mess as 'shocking'.

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Linda Yueh Article written by Linda Yueh Linda Yueh Chief business correspondent

Scottish vote and uncertainty

Markets have reacted positively to the news that the UK will not be split after the Scottish referendum results.

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BBC Business Live

  1.  
    JIMMY CHOO STOCK MARKET FLOAT 07:15:
    A Jimmy Choo shoe

    Luxury shoes brand Jimmy Choo has confirmed its intention to float on the London Stock Exchange this morning. In a statement, chief executive Pierre Denis says the firm has "strong momentum" adding he is confident its future as a public company can only extend its reputation.

     
  2.  
    TESCO 07:13:

    Here's a link to that (very short) statement from Tesco on Alan Stewart's arrival. The supermarket faced criticism after yesterday's revelations that it would be effectively running without a CFO for the rest of the year, had Mr Stewart started in December as originally planned. Will investors react positively to this announcement at the start of trading?

     
  3.  
    TESCO 07:05: Breaking News

    Tesco has said this morning that its new chief financial officer Alan Stewart will join the company today. That's almost three months early.

     
  4.  
    SUGAR Via Twitter Adam Parsons Business Correspondent

    tweets: "Tate and Lyle: Disruption to supply chain in first half of the year has cost business £40m"

     
  5.  
    CHINA MANUFACTURING 07:03: BBC World News
    Rico Hizon

    Some apparently good economic news from China, World Business Report, erm, reports. Activity in manufacturing unexpectedly picked up in September according to the latest figures, even as factory employment slumped. Rico Hizon in Singapore tells the programme that it is a big relief for investors after a string of negative news out of China in recent weeks.

     
  6.  
    TESCO 06:59: BBC Radio 4

    Ms Palmer of Begbies Traynor tells Today when Laurie McIlwee resigned in April "it was allegedly due to some certain differences of opinion" between former chief executive Philip Clarke and Laurie McIlwee. "So it could well be that this issue goes that far back."

     
  7.  
    ROCKEFELLERS GO GREEN 06:49:
    Oil well

    The Rockefellers - the US industrial family that made a fortune out of oil in the late 19th century, is going to sell its investments in fossil fuels and reinvent itself in clean energy, according to US press reports. Rockefeller Brothers Fund, founded by the family heirs, has signed a pledge to get rid of fossil fuel assets.

     
  8.  
    TESCO 06:42: BBC Radio 4

    More from retail analyst Julie Palmer on Tesco. She says there has been "some concern over a period of time that the Tesco board just hasn't been strong enough". Tesco relies a lot on non-executive directors, she adds. It's also not clear how long former chief financial officer Laurie McIlwee has been absent from the company following his resignation in April.

     
  9.  
    TESCO 06:38: BBC Radio 4

    It looks like Tesco has "recognised the acceleration of payments from suppliers for in-store promotions and bonus payments, while deferring costs relating to food that is out of date and stock theft", Julie Palmer of Begbies Traynor tells Today (whatever this means). But she says it's not clear if they have broken accounting rules.

     
  10.  
    LISTEN AGAIN Via Twitter Adam Parsons Business Correspondent
  11.  
    LABOUR CONFERENCE 06:24: Radio 5 live

    British Chambers of Commerce boss John Longworth says Ed Balls' speech at the Labour party conference yesterday marked a "paradigm shift" in Labour's approach to business. He tells Wake Up to Money a slew of policy plans including cuts to business rates, infrastructure plans and a decision on Heathrow expansion are all good news. Suggestions that Labour is anti-business, he says, are "behind the curve".

     
  12.  
    RATES RISE? 06:18: Radio 5 live

    The Bank of England should raise interest rates straight away according to Jim O'Neill, the economist and former chairman of Goldman Sachs Asset Management. He tells Wake Up to Money: "there's no reason not to move right now", and more "conventional" rates will be appropriate for the recovering economy.

     
  13.  
    BARCLAYS FINE 06:10:
    A Barclays sign hangs outside a branch of the bank in the City of London

    Ahead of its trading statement later this morning Barclays Bank appears to have found itself in some regulatory hot water again. the Financial Times reports the bank will later today be fined £38m for failing to keep client's money separate from its own at its investment arm. The fine, levied by the Financial Conduct Authority, would be a record for this type of misconduct.

     
  14.  
    TESCO IN SOUTH KOREA 06:03: Radio 5 live

    Tesco's troubles follow it to South Korea, the BBC's Steven Evans in Seoul tells Wake Up to Money. Regulators there have opened an investigation into Homeplus - a local Tesco subsidiary with 400 stores. Allegations include the selling of customer data, and the suggestion that a BMW car, meant as a customer lottery prize ended up in the hands of a friend of the staff - so not related to Tesco's current UK problems.

     
  15.  
    06:00: Edwin Lane Business reporter, BBC News

    There's also more on the Labour party conference, which continues today. Get in touch with us throughout the morning on bizlivepage@bbc.co.uk or on Twitter @BBCBusiness.

     
  16.  
    06:00: Matthew West Business Reporter

    Morning folks. This morning we have a trading update from Barclays bank as well as one from Punch Taverns. We also learned of 1,700 job losses at Phones 4U overnight. There are the latest set of public sector finances to examine later on. And there's bound to be more on Tesco's accounting irregularities. Stay with us.

     

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