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Summary

  1. EDF boss 'knew about Hinkley delay'
  2. Fed fines Goldman Sachs $36m
  3. Indian parliament backs key GST bill
  4. UK poised for potential rate cut
  5. Head of World Bank defends globalisation
  6. Ofgem to cap cost of pre-payment meters

Live Reporting

By Bill Wilson

All times stated are UK

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  1. Goodnight

     That is all from the Business live page for today. We'll be back from 6am tomorrow. Have a good night.   

  2. Tesla losses widen

    More on those Tesla results....

    The company, run by Silicon Valley entrepreneur Elon Musk, said its net loss widened to $293.2m in Q2, from $184.2m a year earlier. 

  3. Wall Street ends the day ahead

    The Dow Jones industrial average was up 41.23 points, or 0.23%, to 18, 355, the S&P 500 was up 6.76 points, or 0.31% to 2163.79, and the Nasdaq Composite was up 22 points, or 0.43 %, to 5,179.74.

    Shares rose after solid jobs data and a rise in oil prices that lifted petroleum-linked equities.

  4. BreakingTesla delivers 14,000 cars in Q2

    Electric car manufacturer Tesla says in delivered 14,000 vehicles in Q2, and that production is on track to deliver 50,000 cars in the second half of the year. 

  5. Women small business owners 'more upbeat than men'

    Zoe Thomas

    US business reporter

    Fireworks

    Women small business owners in the US are more optimistic about their company's prospects in 2016 compared with their male counterparts, according to a new study by Bank of America. 

    Some 54% of female owners said they expected to see a growth in revenue in 2016, against just 48% of male owners. Also 60% of women felt they would see overall business growth compared with just 52% of men. 

    While both men and women were concerned about consumer spending and interest rates, women were more likely to also be concerned about the strength of the US dollar and corporate tax rates. 

  6. Fed fines Goldman Sachs $36m

    The Federal Reserve is fining Goldman Sachs $36.3m after accusing it of improperly obtaining and distributing confidential regulatory information.

    The Fed ordered the big Wall Street bank on Wednesday to put in place a programme to ensure the alleged violation doesn't happen again.  

    Goldman Sachs had in October 2015 already paid a $50m fine to New York state regulators in the case.

  7. Moon-age daydream?

    The moon circa 1969

    Moon Express has become the first private firm to win US approval for an unmanned mission to the moon.

    The two-week mission was given the go-ahead by the Federal Aviation Administration's Office of Commercial Space Transportation.

    The plan is to send a suitcase-sized lander to the moon in late 2017.

    The lander, which is not yet completed, will be carried on a rocket made by Rocket Lab, a start-up firm which has not launched any commercial missions.

    Science experiments and some commercial cargo will be carried on the one-way trip to the lunar surface.

  8. 'Zika-protection' firms get legal warnings

    Mosquito

    New York state's top prosecutor has sent cease-and-desist letters to seven firms alleged to be deceptively marketing ineffective "Zika-protective" products.

    It comes amid growing concern parts of the US over the mosquito-carried virus. 

    New York Attorney General Eric Schneiderman also issued a consumer alert warning against the companies' advertisements - which focus mainly for ultrasonic and botanical oil-based mosquito repellants. 

    Mr Schneiderman told journalists that these products do not work. 

  9. Train drivers balloted on strike action

    Southern train

    Talks started today over the continuing dispute between guards and Southern Railway. RMT members have scheduled a five-day strike starting from next Monday. 

    Talks have been taking place at the conciliation service ACAS to try and break the impasse. 

    But now train drivers employed by Southern Railway and Gatwick Express are also to be balloted for strikes over a "breakdown in industrial relations", says the union Aslef.

  10. Indian businesses react to GST

    And it is not just Indian handset makers that expect a GST boost.

    Other Indian business chiefs were quick to share their excitement over the passing of the bill.

    Bhaskar Pramanik, chairman of Microsoft India said: "I hope the Government will implement this long pending reform by April 1, 2017. The Government’s idea of a single tax regime is crucial to improve ease of doing business in India and address the ambiguities of the current indirect tax landscape, proving beneficial for the economy, at large.”

    Adi Godrej, Chairman of the Godrej Group a family run food and real estate firm said in an interview with CNBC: "There will be a tremendous benefit [from the GST]. Consumption will go up, production will go up, investment into production will go up, so this is a great development. To my mind it is the biggest economic reform after the liberalisation of 1991.” 

    Rajan S Mathews, director general of the Cellular Operators Association of India said: "The industry welcomes and celebrates this iconic reform, while urging the government to ensure that the rate applied for the telecom services should be no more than the existing 15% to meet the government’s vision of a connected digital India and ensuring affordable services."  

  11. GST will 'boost' Indian economy

    The BBC's Shilpa Kannan explains why the country's economy is expected to receive a boost, on the World Service's World Business Report.

    View more on twitter
  12. 'Historic achievement'

    Respected economist Adam Posen tweets his congratulations to India's Ministry of Finance's chief economic adviser. 

    View more on twitter
  13. GST passes despite prolonged political wrangling

    India's parliament has passed a historic tax reform bill that will streamline the country’s complicated taxation system.

    The long-awaited Goods and Services Tax (GST) bill will pave the way for the introduction of a new single rate national sales tax, and create a common market across the country for the first time.

    The bill was passed by the Lok Sabha, the lower house of the Indian parliament, last year, but it had been stuck in the upper house of parliament, or the Rajya Sabha, due to political wrangling.

    The opposition Congress party, which originally proposed the GST while in power, had opposed the bill. But the Rajya Sabha passed the bill unanimously after prime minister Narendra Modi's government reached a consensus with opposition parties over the new tax regime.