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  1. Deutsche Bank shares plunge on funds fears
  2. Wells Fargo boss 'deeply sorry' for accounts scandal
  3. German industry warns of 'impossible' Brexit demands
  4. Oil prices ease after Wednesday's surge
  5. US economic growth ends Q2 higher

Live Reporting

By Dearbail Jordan

All times stated are UK

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  1. Goodnight

    Test Card F

    That's all from from the Business live page for today. Join us again at 6am on Friday.  

  2. Wall Street ends down on Deutsche fears

    US stocks ended the day down nearly 200 points, pulled down by concerns over Deutsche Bank.

    The Dow Jones industrial average closed down 1% at 18,143. Deutsche Bank stock fell 6.6% following a report that hedge funds had withdrawn cash from the troubled lender. 

    Nasdaq also fell, down 49.39 points to 5,269, despite shares in both NXP Semiconductors and Qualcomm soaring on speculation of a takeover.

    The S&P 500 lost 20.24 points to finish at 2,151.

  3. John Lewis boss picked for mayoral race

    Andy Street, managing director of the John Lewis Partnership, has been selected as the Conservative candidate to become the first-ever mayor of the West Midlands.

    Mr Street describes himself as a "proud Brummie" but if he wins, John Lewis will have to find itself another chief.

    View more on twitter
  4. Deutsche funds boss seeks calm

    The chairman of Deutsche Bank's hedge fund business attempted to restore some calm after a report claimed funds had withdrawn cash from the lender.

    Barry Bausano said there had been outflows but inflows too and that the division was "still very profitable" for Deutsche Bank.

    Mr Bausano told CNBC that the bank still has around 800 hedge fund clients.  

    Shares in Deutsche Bank fell 6.8% following the report by Bloomberg. 

  5. Oil prices bounce back after lull

    Nodding donkeys pump oil

    Oil prices rose higher in afternoon trading in the US. 

    Brent crude rose by 2.2% to $49.75 per barrel after sliding earlier in the day. 

    Euphoria over an agreement by Opec nations to cut oil production gave way to concerns over the details of a deal which will be firmed up in Vienna on 30 November.

    US crude also bounced back, up 2.6% to $48.25 a barrel.

  6. Twitter dwarfs Deutsche

    Oh the ignominy! Deutsche Bank, the venerable German institution founded 146 years ago, is now smaller than Twitter, a mere whippersnapper of just 10 years old.

    View more on twitter
  7. Germany rules out Deutsche rescue

    Deutsche Bank headquarters in Frankfurt

    The German Government will not bailout Deutsche Bank if problems at the lender worsen.

    Eckhardt Rehberg, parliamentary budget spokesman for the ruling conservatives, indicated that a taxpayer-funded rescue of Deutsche Bank would not be forthcoming.

    "At the present time I would rule out any capital help. That would not be the right way to go," he said. 

    Shares in Deutsche Bank tumbled in the US on Thursday following a report by Bloomberg that some funds had withdrawn cash from the lender.

    There are concerns about the ability of Deutsche Bank to pay a $14bn fine in the US for selling mortgage-backed bonds during the financial crisis.

  8. Congress covers all bases on Wells Fargo

    John Stumpf, chairman and chief executive of Wells Fargo

    Just in case John Stumpf, chairman and chief executive of Wells Fargo forgot why he was appearing in front of the House Financial Service Committee - though that is highly unlikely -  snapshots of shame were beamed on the wall during the hearing.

    That grey-haired gentleman at the front is Mr Stumpf. And at the back, all the fines levied against the US bank since the financial crisis.

    Mr Stumpf really was getting it from all angles.

  9. NXP soars on takeover talk

    Shares in NXP Semiconductors soared by 15% in the US following speculation that the Dutch company is the subject of takeover interest from Qualcomm, the world's largest chipmaker.

    NXP Semiconductors is based in the Netherlands but listed on the technology-heavy Nasdaq in the US. The company has a market value of $28bn but the Wall Street Journal reports that if a deal is completed, it could value the business at $30bn. 

    Qualcomm's shares, also listed on Nasdaq, rose by 4.7%.

  10. Deutsche Bank shares plunge on funds 'exit'

    Deutsche Bank headquarters in Frankfurt

    Shares in Deutsche Bank tumbled 7.8% in US trading following a report that hedge funds had withdrawn cash from the embattled German lender.

    Bloomberg said that the funds had taken out cash and withdrawn positions held at Deutsche Bank.

    In response, Deutsche Bank said: "Our trading clients are among the world’s most sophisticated investors.

    "We are confident that the vast majority of them have a full understanding of our stable financial position, the current macro-economic environment, the litigation process in the US and the progress we are making with our strategy."

    There has been speculation that Deutsche Bank may struggle to pay a $14bn US fine for mis-selling mortgage-backed bonds during the financial crisis.

    The wider Dow Jones industrial average tumbled 1.1%, or 205.5 points, 18,133.  

  11. When's the next flight to Vienna?

    The International Lederhosen Gathering in Windischgartsen, Austria

    Austria's economy minister Reinhold Mitterlehner (not pictured) has tried - and arguably failed - to drum up interest among tourists in his nation.

    In an interview publicised by travel giant Tui he promises: "A warm welcome and an exciting range of offerings for a great holiday.

    "Our guests will experience a distinctive landscape featuring the Alps, Danube and lakes, our rich historical heritage, and a wide range of cultural experiences. Add to this our culinary delights, and above the hospitality for which we are noted all over the world," he says.

    "Every season has its own particular charm. You can enjoy Austria 365 days a year," he adds.

    Feels more like a geography lesson.

  12. Chipmaker 'eyes $30bn takeover'

    Qualcomm chip

    And speaking of deals, there's a report of a possible $30bn deal between two of the world's biggest chip makers. 

    Qualcomm is in talks to buy the Netherlands' NXP Semiconductors, according to the Wall Street Journal, with a deal potentially struck in the next two to three months. 

    However, the paper also said it was possible there would no deal and Qualcomm was exploring other options. 

    NXP shares were up 18% in afternoon trading, while Qualcomm's were up 7%. 

  13. Legal three-way merger to 'create UK giant'

    Royal Courts of Justice

    Major news from the legal world.

    Three law firms - Olswang, Nabarro and CMS Cameron McKenna - are reported to be in talks about a merger. 

    If it goes ahead it will create one of Britain's biggest law firms with combined revenue of nearly £1bn. 

    The Lawyer magazine reports that partners at Nabarro will vote on the deal on Friday.

    But what will the new firm be called? Answers on a postcard please...

  14. Nissan raises concerns over Sunderland

    Carlos Ghosn, chairman and chief executive of Nissan, admits that a post-Brexit tariff would hamper competitiveness at its plant in Sunderland where it employs 6,700 people. 

    Video content

    Video caption: Nissan boss: 10% tariffs would be 'handicap' for Sunderland plant
  15. Hinkley Point signed, deliver

    Officials from Britain China and France attended a ceremony to the £18bn deal to build the Hinkley Point nuclear power station in Somerset.   

    View more on twitter
  16. Oil majors buoyant on Opec boost

    Shell patrol station

    The FTSE 100 ended the day up 1%, or 70 points, at 6,919. Royal Dutch Shell led the risers, up 6.6%, after Opec agreed to cut oil production.

    The potential deal, the details of which are scheduled to be agreed at a meeting in Vienna on 30 November, also sent BP's shares 4.34% higher.

    Conversely, shares in Capita plunged 26.7% after the outsourcing group admitted that full-year profits will be lower than expected because of a slowdown in trading, due in part to Brexit.  

    Merlin Entertainment shares fell 5.8% after reporting disappointing trading over the summer.

  17. Oil price rise fails to lift US stock

    Oil prices rose by mid-afternoon trading after heading downwards earlier amid jitters over the details of a deal struck by Opec to cut production.

    Brent crude rose to $49.56 a barrel and US crude edged up to $47.43.

    However, the Dow Jones industrial average drifted lower, down 41.80 points to 18,297. Nasdaq fell 24.41 points to 5295.14.

  18. A Wells Fargo refresher

    Just a reminder of why the Wells Fargo scandal is so important. 

    Employees at the US bank, under pressure to hit sales quotas, set up two million false current accounts or credit cards using existing customers' details.

    These customers incurred fees on these accounts, as well as interest and charges. When Wells Fargo's customers didn't pay these fees and charges - which they didn't even know about - their credit scores were negatively affected.

    It could have stopped people from getting, for example, a mortgage.

    For this, Wells Fargo paid a fine of $185m (£142.2m). Wells Fargo reported full year net profit of $23bn (£17.7m) in 2015.

    US bank Wells Fargo
  19. HP says sorry for ink cartridge update

    Dave Lee

    North America technology reporter

    HP ink cartridges

    HP has backtracked on a software update that blocked some ink cartridges made by third parties.

    A controversial firmware change made earlier this month meant HP printer owners using unofficial, usually cheaper, cartridges discovered they would no longer work.

    A campaign calling on HP to reverse the move was launched, backed by rights group the Electronic Frontier Foundation (EFF).

    In a blog post, HP admitted it had should have done a "better job of communicating” the change.

    An optional update that removes the restriction on unofficial cartridges will be available “within two weeks”.