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Summary

  1. Dominic Chappell banned from driving
  2. Housebuilders push FTSE 100 higher
  3. Mothers' pay lags far behind men: report
  4. Oil drops below $49 a barrel

Live Reporting

By Chris Johnston

All times stated are UK

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  1. Good night!

    Chris Johnston

    Business reporter

    That's all for another day of Business Live - thanks for reading. We are back as ever at 06:00 tomorrow - do join us then.

  2. Wall Street edges higher

    US stocks ended up, with gains in the tech sector helping to buoy the Nasdaq to a record intraday high and solid housing market data provided more evidence the economy may be picking up momentum. 

    The Dow Jones rose 17.88 points, or 0.1%, to 18,547.3, the S&P 500 gained 4.26 points, or 0.2%, to 2,186.9, and the Nasdaq added 15.48 points, or 0.3%, to 5,260.08. 

  3. Tesla breaks the 300-mile range with new battery

    Electric car maker Tesla has announced a new - and more powerful - battery for its Model S and Model X motors.

    Tesla chief Elon Musk says the new 100KWH version will extend the range of the cars to about 315 miles, from about 294 miles. 

    New customers can pay $10,000 for the larger battery pack. Existing owners must pay $20,000 because their existing batteries must be recycled.  

  4. Best Buy shares soar on sales figures

    Best Buy store

    Best Buy's profits jumped 21% as the US's largest consumer electronics retailer increased sales online and invested in store improvements.

    The company's shares soared 19% after it said online sale rose 24% to $835m. Investors said that was a strong performance given how competition from Amazon.com has eaten away at the sales of traditional retailers.

    The share price rise was the company's largest daily percentage increase since mid-December 2008. 

  5. More Irish eyes are smiling

    Irish flag

    The number of people moving to Ireland has exceeded the number leaving for the first time since 2009.

    Migration added 3,000 people to Ireland's population in the year to April - the first increase in seven years, the central statistics office said today.   

    Net immigration to Ireland peaked at more than 100,000 at the height of its housing boom in 2008, but the country lost around 30,000 people a year during the economic downturn that then followed.

  6. Tesla to announce product news

    Elon Musk

    Stay tuned for an announcement from Tesla Motors. Chief executive Elon Musk has tweeted that there will be product news later today.

    The Silicon Valley electric car manufacturer won't even hint at what it could be about. 

    But that hasn't stopped investors driving up shares in Tesla by 2.1%. Shares in Tesla's SolarCity division are also up 1.5%.

  7. More Strawberrygate

    Back to the saltire controversy with Tesco's strawberries. Reilly writes to say:

    Quote Message: Tesco market their food from bogus farms yet are unwilling for people to instantly know that their produce is from Scotland. Shows how Tesco has lost the plot."
  8. How to get a pay rise

    BBC Radio 4

    Video content

    Video caption: The CEO of a negotiation firm gives her five top tips for ensuring a decent pay deal.
  9. Brent back near $50

    Oil pump

    Oil prices have risen a touch after hints that Iran may support joint OPEC action to prop up the market. 

    Iran, the third-largest oil producer in the oil cartel, has been boosting output since the lifting of Western sanctions in January. 

    Although it has not said if it will join an effort to curb production at a meeting of OPEC and other producers next month, Tehran could be more willing to compromise, oil industry sources say. 

    Brent crude was up 80 cents, or 1.7%, at $49.96 a barrel, while US oil added 1.4% to $48.08.

  10. Hacks hacked?

    NY Times building

    The FBI and other US security agencies are investigating cyber breaches targeting reporters at the New York Times and other American news organisations thought to have been carried out by hackers working for Russian intelligence, CNN reports

    "Investigators so far believe that Russian intelligence is likely behind the attacks and that Russian hackers are targeting news organisations as part of a broader series of hacks that also have focused on Democratic Party organisations, the officials said," CNN said. 

    It said the intrusions were detected in recent months.  

  11. Ashley Madison security slated

    Ashley Madison

    The Ashley Madison dating site had "inadequate" security systems and used fake icons to make people think it was safe, reveals a report.

    The Toronto-based firm's security systems were investigated by privacy watchdogs in Canada and Australia.

    The attack on Ashley Madison in July 2015 took data on millions of users.

    Avid Life Media, which owns Ashley Madison, has already said it will abide by the report's findings to improve the way it handles data.

    Read more here.

  12. More pressure on Ashley

    Mike Ashley

    Pressure is mounting on Sports Direct founder Mike Ashley (pictured) after a shareholder group added its name to the growing list of investors calling for an independent review into working practices and a shakeup of corporate governance at the retailer. 

    The Local Authority Pension Fund Forum said it would support a resolution by the union Unite at the retailer's annual meeting demanding an independent review of the retailer's human capital strategy. 

    The Forum also said it had sent a briefing to its member funds raising concerns about a workplace review backed by Mr Ashley and overseen by Sport Direct's lawyers RPC. 

    Kieran Quinn, the Forum's chairman, said it believed that "responsible business practices by companies lead to sustainable returns for investors over the long-term. We are worried that this view is not shared by Sports Direct."

    Shares in Sports Direct have fallen 47% this year despite ticking up 2% today.

  13. Why so happy?

    BBC World Service

    The happiest place in Britain is Leigh-on-Sea in Essex, according to a recent survey. 

    World Business Report finds that it fulfils “happiness factors” – one of which includes the opportunity to develop skills.

    Video content

    Video caption: The happiest place in Britain is Leigh-on-Sea, which fulfils all the "happiness factors".
  14. McCarthy pips Johansson

    Scarlett Johansson and Melissa McCarthy

    Melissa McCarthy has overtaken Scarlett Johansson in Forbes' annual rich list.

    McCarthy earned $33m (£25m) before tax between June 2015 and June 2016, making her the world's second-highest paid actress, behind Jennifer Lawrence who raked in $46m (£35m). 

    Johansson, who was placed second last year, dropped to third, earning $25m (£19m) across the year.

    It tops off a busy year for McCarthy, which saw her appear in the Ghostbusters remake, as well as The Boss, which topped the US box office.

    Read more here.

  15. More on Strawberrygate

    James Withers, chief executive of Scotland Food and Drink, responds to Coletta's tweet:

    View more on twitter

    Do you think Tesco should keep the saltire on Scottish strawberries? Drop me a line: bizlivepage@bbc.co.uk

  16. A juicy tale

    BBC Radio 5 Live

    You might recall an earlier post about Tesco coming under fire for removing an image of the Scottish saltire from punnets of Scottish berries.   

    5 live presenter Colletta Smith tweets:

    View more on twitter
  17. Abderdeen hails SABMiller ruling

    SABMiller logo

    Aberdeen Asset Management has welcomed a court ruling that SABMiller shareholders can be treated as two separate groups when they vote on a takeover by Anheuser Busch InBev - and still plans to reject the deal. 

    The £79bn deal headed to the courts as SABMiller sought to make sure the deal treated investors fairly, given its two largest shareholders were offered different terms to help them cut their tax bill. 

    Aberdeen said: "We are pleased the court has acknowledged the reality of the situation which will help to ensure that the views of the rest of the investor base have due weight. As we have already indicated, we intend to vote against the deal as we are uncomfortable with the structure and believe it undervalues the company."

    It has called on others investors to help ensure SABMiller remain a standalone company.  

  18. Housebuilders help the FTSE

    Strong results from Persimmon helped the FTSE 100 to close 0.6% higher at 6,868 points. 

    The house builder ended up almost 4% after reporting a jump in reservations by buyers of new homes over the past two months despite some surveys suggesting the so-called Brexit vote could cool the housing market. 

    Rival housebuilder Barratt Developments was the biggest riser on the blue-chip index, ending almost 5% higher.