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Summary

  1. FTSE 100 closes flat, mining shares are the biggest fallers
  2. Eurostar strikes suspended from midnight for talks
  3. German GDP growth slows to 0.4%; Italy stagnates

Live Reporting

By Karen Hoggan

All times stated are UK

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  1. Good night

    That's it for another day on the Business Live page. 

    Thank you for staying with us.

    We'll be back as usual on Monday morning at 6am, so do join us then for all the latest financial news. 

  2. Taxing times?

    BBC World Service

    Hillary Clinton (R) and Donald Trump (L)

    The Democratic nominee for the US presidential election, Hillary Clinton, has disclosed her latest tax return, reports BBC World Service.  

    Her billionaire Republican rival, Donald Trump, has said his tax affairs are undergoing an official audit and he can't disclose figures until the review is completed - though the Internal Revenue Service says he can. 

    Mrs Clinton and her husband Bill, the former US president, earned $10.6m (£8.2m) last year, with federal taxes coming to just over 34%.

    Presidential candidates are not obliged to reveal their tax affairs, though most do.

  3. Wall Street retreats from Thursday's record

    Wall Street sign and US flags

    Shares on Wall Street fell from record highs on Friday as lacklustre retail sales and producer price figures dampened investor confidence in the economy's expansion. 

    The retreat in stocks followed record high closes on Thursday for all three major indexes. 

    Cooling consumer spending and low inflation suggest the Federal Reserve will probably not raise interest rates very soon despite a robust employment market. 

    Dow Jones closed at 18,576.40 - a slight fall of 37.12 points or 0.20%.

    The Nasdaq edged up by 4.50 points or 0.009% to 5,232.9.

    And the S&P 500 ended the day at 2,184.05 - that's down 1.74 points or 0.08%.

  4. Fox News Channel appoints new bosses

    Fox News logo

    Twenty-First Century Fox has appointed Jack Abernethy and Bill Shine as co-presidents of Fox News, replacing Roger Ailes who stepped down last month after a sexual harassment scandal.

    Both are senior managers and have a long track record with Fox.

    Mr Ailes resigned in July after a series of sexual harassment allegations against him by female news presenters. He has denied any wrongdoing.

    Fox News plays a prominent role in US election coverage. Read more here

  5. Selfie awareness?

    Deputy editor of FT Special Reports tweets

    The Bank of England's former governor, Mervyn King, on how he copes with the celebrity status of some central bankers ...

    View more on twitter
  6. Rangers sue former directors and Mike Ashley for £4m

    Entrance to Rangers ground

    Rangers have launched a £4m legal claim against a number of former directors and Sports Direct owner Mike Ashley.

    The club allege Charles Green, Imran Ahmad, Brian Stockbridge and Derek Llambias negotiated commercial deals with Sports Direct below market value.

    They also believe Mr Ashley unfairly benefited from the alleged negligence.

    The action came to light at the Court of Session where Mr Ashley's legal team succeeded in a bid to get Rangers to disclose documents to them.

    Rangers allege that the former directors did not act in the business's best interests when they negotiated commercial deals with Sports Direct.

    Read more here

  7. Virgin Trains vexed?

    Virgin train alongside platform

    Sticking with railways - and we've got more on the Virgin Trains East Coast strikes.

    The company says the company is baffled at why the walkout is happening.

    Quote Message: We don't know why the RMT is calling this action when we've given them concrete assurances on every single one of their points. We've promised there'll be no impact on safety; the safety roles will remain onboard. There's no compulsory redundancies. Anyone who wants to stay with Virgin Trains can do so. Their salaries will be protected. So we've given them all that assurances; they've still called these strikes, so now it's focussing on the passengers. We need to focus on keeping those services in place, which is what we're going to do. from Richard Scott. Executive director of corporate affairs, Virgin Trains
    Richard Scott.Executive director of corporate affairs, Virgin Trains
  8. Relief for Eurostar passengers?

    RMT demonstrators outside St Pancras station

    In case you missed this earlier ...

    Not only has the RMT suspended strike action on Eurostar from midnight to allow talks to take place, but earlier the TSSA rail union suspended its planned strike action on the service. 

    TSSA staff had planned to strike on 14 and 15 August, and 28 and 29 August, but it has suspended action "following an agreement to review work rosters at St Pancras Station".

    "Following talks this morning, we have reached an agreement in principal that we believe will secure a better work-life balance for our members and we are now suspending the industrial action with immediate effect," said Manuel Cortes, TSSA general secretary.

    He said he was confident Eurostar would deliver on an agreement which contains an ongoing review of current rosters. The union says it hopes to see new rosters in December which will guarantee "balanced workloads, balanced shift and weekend working and balanced destinations".

    "It is now time for the company to deliver because this has been a long running problem for our members," Mr Cortes added.

  9. Chilling crime?

    BBC World Service

    The billionaire owner of a chain of grocery shops in New York has put up a reward of $5,000 (£3,900) in the hope of catching thieves who are targeting ice-cream, reports BBC World Service.

    With the city in the grip of a heatwave, John Catsimatidis - who owns the Gristedes chain -announced his incentive on Twitter, saying ice-cream bandits were wreaking havoc in New York.

    In one instance this week 80 tubs were taken from just one of his shops, although the culprits were caught before they could escape with the frozen loot. 

    The police say there have been more than 250 ice cream theft complaints this year, and 130 arrests. 

  10. FTSE closes flat following earlier 14-month highs

    London Stock Exchange sign

    The FTSE 100 closed flat on Friday having hit a 14-month high earlier in the day.

    The five biggest fallers were all mining stocks following weak economic figures out of China 

    The FTSE 100 is up about about 11% so far this year. 

    Record low interest rates have helped shares to recover from the dive they went into following June's Brexit vote.  

    The cut in rates has also hit returns on bonds and cash. As a result, investors  have turned to the better returns on offer from stocks. 

    "Unattractive gilt yields and the weaker pound have improved investors' appetite in the UK stock market," said Ipek Ozkardeskaya, senior market analyst at London Capital Group.

    FTSE 100 closed at  6,916.02 - up by just 1.31 points or 0.02%.

    Mining stocks slipped back as copper prices fell following the release of the economic data in China, which is the world's biggest user of metals.

    Shares in Antofagasta, Rio Tinto, AngloAmerican, Glencore and BHP Billiton all fell between 3.4% to 1.5%.

  11. Borders open in Colombia

    Venezuelans cross Colombian border

    Venezuela and Colombia have announced a partial reopening of their 2,200 kilometre-long border, which has been closed for almost a year after a decision by Venezuelan President Nicolás Maduro. 

    Natalio Cosoy, the BBC Colombia correspondent, says that at this first stage only five crossings will be opened and only pedestrians will be allowed through for 12 hours every day. 

    The complete normalisation of the border will take place progressively, as both governments reach further agreements on security, commerce and energy matters.

  12. Newton chief executive to become non-executive chair

    Helena Morrisey

    The high profile chief executive of Newton Fund Management - Helena Morrissey - is to become non-executive chair of the firm's Board of Directors. 

    Meanwhile Hanneke Smits has been appointed to the Board of Directors with a view to her becoming the future chief executive. 

    As non-executive chair, Helena Morrissey will continue advise Newton and will represent Newton and BNY Mellon Investment Management within the financial services sector, the company says in a statement.

    Not only has Ms Morrissey spent 15 years a as chief executive of Newton - ultimately responsible for over £50bn worth of funds that the firm manages - she is also the mother to nine children. Read more here

  13. Eurostar strikes suspended ...

    Strikes by Eurostar workers will be suspended from midnight to allow further talks, according to the RMT union.