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Summary

  1. Barclays to pay $100m to settle Libor probe in 44 US states
  2. FTSE 100 closes higher at 6,809 points
  3. Walmart buys Jet.com for $3.3bn
  4. Tyrrells crisps sold for £300m
  5. Airbus investigated by Serious Fraud Office

Live Reporting

By Chris Johnston

All times stated are UK

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  1. Good night

    Chris Johnston

    Business reporter

    That's all from Business Live for today - thanks for reading. We're back at 06:00 tomorrow - do join us then.

  2. News Corp revenues rise

    News Corp, owner of the Times, the Wall Street Journal and publisher HarperCollins, reported a 5.1% rise in quarterly revenue, helped by strong growth in its digital real estate business. The Rupert Murdoch-controlled company said revenue rose to $2.23bn in the three months to 30 June 30, with net profit of $89, compared with a loss of $379m for the same period last year.

  3. Wall Street falls

    After reaching another record high on Friday, the S&P 500 and the Dow Jones both ended slightly lower, dragged down by badly performing healthcare stocks.

    The S&P ended at 2,180 points, while the Dow Jones closed at 18,529 points.

     "The market is still digesting a blockbuster payroll number and I think a lot of things are in motion right now to assess whether the Fed raises earlier than thought," said Doug Cote, chief market strategist at Voya Investment Management in New York. "It certainly won't be September, but it could possibly be December." 

  4. VW halts production

    VW cars

    Volkswagen is halting production of cars at one of its biggest German factories for two days this week. Something to do with the emissions scandal, perhaps? Erm, not quite. Apparently the car maker has run out of seat covers. 

    Production in Emden, VW's northern German factory, which employs nearly 10,000 workers, has been stopped for today and Tuesday because a supplier its in-house vehicle seating maker is having delivery problems. 

    Emden builds the VW Passat sedan and estate and the CC sedan, as well as components. It produced 264,000 cars last year, with daily output running at 1,250 cars.  

  5. 'It won't even be that hard'

    Donald Trump

    If you want to read even more about Donald Trump's economic plan, my colleagues in Washington have come to your rescue:

    Republican presidential nominee Donald Trump plans to "jump start" the US economy by suspending new regulations and cutting corporate taxes.

    The real estate mogul revised his former plan to include making child care costs tax-deductible and ending the estate or "death" tax.

    "I want to jump-start America and it can be done and it won't even be that hard," he said.

    Several protesters interrupted Mr Trump's speech in Detroit, Michigan.

    More here.

  6. 'Crucial historical juncture'

    Hinkley Point

    To give you a flavour of Liu Xiaoming's piece in the Financial Times, here are the concluding two paragraphs: 

    Quote Message: Right now, the China-UK relationship is at a crucial historical juncture. Mutual trust should be treasured even more. I hope the UK will keep its door open to China and that the British government will continue to support Hinkley Point - and come to a decision as soon as possible so that the project can proceed smoothly. It has not been easy for China and the UK to have come this far. As long as both sides cherish what has been achieved and continue to expand and deepen our co-operation across the board, bilateral relations will maintain their strong momentum and work for the wellbeing of both the Chinese and British people."
  7. Everbank sold in $2.5bn deal

    US online lender Everbank has been bought by financial services firm TIAA for an impressive $2.5bn (£1.9bn). TIAA, which is aimed at people working at not-for-profit firms in academia and research, says the deal will enable it to expand its internet banking services. 

    Rob Clements, Everbank chief executive, is "extremely excited" about the deal: “Our two companies are a great match."

  8. European markets edge higher

    The three main indexes on Wall Street are now all in negative territory. However, it was a slightly better story this side of the Atlantic today, with London up 0.2%, Frankfurt ending 0.6% higher - although Paris closed up just 0.1%. 

    Jasper Lawler at CMC Markets comments: "An early rally fizzled out in afternoon trading as European markets edged out a third day of gains which began with the Bank of England's 'sledgehammer' monetary policy decision on Thursday." 

    Trading volumes were mostly thin, with analysts at Aurel BGC in Paris expecting "one of the calmest weeks of the year" with fewer corporate results and economic data, and no central bank meetings scheduled. It IS August after all...

  9. Barclays responds

    Barclays has issued a response following the settlement announced today by the New York Attorney-General.

    "Barclays is pleased to have resolved the state attorneys' general investigation into Barclays' legacy LIBOR- and Euribor-related activities," a spokesman for the bank said. "We believe this settlement is in the best interests of our shareholders and clients, and allows us to continue to focus on the future and serve our clients."

  10. 'Defrauded of millions'

    Eric Schneiderman's press release states:

    "Government entities and not-for-profit organizations in New York and throughout the U.S., among others, were defrauded of millions of dollars when they entered into swaps and other financial contracts with Barclays without knowing that Barclays and other banks on the USD-LIBOR-setting panel were manipulating LIBOR—a price component -- and, at times, colluding with other banks. These entities with LIBOR-linked swaps and other investment contracts with Barclays will be notified if they are eligible to receive restitution from a settlement fund of $93.35 million."

  11. Schneiderman on Barclays

    Back to the real world now, with a tweet from New York Attorney-General Eric Schneiderman following the Barclays Libor settlement announced today:

    View more on twitter
  12. Even more Trump

    Bloomberg TV is carrying Donald Trump's speech. Its current strapline is: "Trump says he will cut regulations 'massively'" - whatever that means.

    Unsurprisingly the Republican presidential candidate has also thrown in some offensive material to his speech, according to the Guardian's Sam Thielman:

    View more on twitter
  13. Trump speaks

    Donald Trump is outlining his economic plan in Detroit as we speak.

    US business editor John Mervin is listening, so we don't have to; some of the gems so far include:

    View more on twitter
  14. BreakingBarclays in $100m Libor settlement

    Barclays sign

    Speaking of Barclays, the New York Attorney-General has just announced that the bank has agreed a $100m (£76m) settlement with 44 US states over charges that it manipulated the Libor interest rate. 

    Eric Schneiderman said that Barclays is the first bank of several under investigation by state attorneys-general to reach a settlement and that it cooperated with the state probe. 

    He said that as a result of the Libor rigging, government entities and non-profits were "defrauded of millions" when they entered into swap contracts with Barclays. "There has to be one set of rules for everyone, no matter how rich or how powerful, and that includes big banks and other financial institutions that engage in fraud or impair the fair functioning of financial markets," Mr Schneiderman said.

    The settlement with the US states marks the latest in a series of enforcement actions the bank has faced in connection with Libor manipulation. 

  15. Ocado to deliver Morrisons deal

    Morrisons store

    Morrisons is set to announce a deal with Ocado that will expand its online operations, Sky News reports.

    The fourth-largest supermarket chain could reveal as soon as Tuesday that it will take capacity at an Ocado warehouse in Erith, Kent.

    The move, which has been in the offing since an outline agreement was announced earlier this year, will include Ocado providing a store-picking service‎ to Morrisons - paving the way for a broader UK-wide home delivery operation.

    Morrisons.com serves about half of UK households - far fewer than rivals Tesco and Sainsbury.

  16. FTSE ends higher

    Barclays sign

    The FTSE 100 has ended the day 0.2% higher at 6,809 points, with miners including BHP Billiton, Anglo American, Rio Tinto and Antofagasta rising 1.7% to 3.3% percent following a rally in the price of key industrial metals and iron ore. 

    Barclays was the biggest riser, up 3.6%, after Exane BNP Paribas upgraded its rating on the bank to "outperform" from "neutral".

    Hikma Pharmaceuticals continued its rough ride of late to be the biggest faller, down 4%.