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  1. Sterling back above $1.27 after earlier falls
  2. Services sector continues to expand in September
  3. Tesco sales rise but profits sink
  4. Low paid 'miss out on flexible working'
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Live Reporting

By Tom Espiner

All times stated are UK

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  1. Good night

    That wraps it up for another day here on the Business Live page. Join us again bright and early - from 06:00 - for more business news and views.

  2. Paris climate accord to start next month

    Natural gas is flared off at a plant outside of the town of Cuero, Texas.

    A global agreement on climate change meant to shift the world economy from fossil fuels will come into force next month after passing a required threshold for ratification with backing from European nations.

    Support for the Paris Agreement has widened to nations representing 56.75% of world greenhouse gas emissions, above the 55% needed for the accord to come into practice, it showed. The deal will formally start in 30 days.

  3. Wall Street closes higher after energy and bank stocks rally

    Wall Street rose after two days of losses after a surge in oil prices helped the energy sector. Oil prices rose above $52 - a level not seen since June - after data showed a bigger-than-expected drop in US crude inventories. 

    In addition, a report from the Institute of Supply Management showed activity in the US services sector saw a big rebound in September, after having slowed to more than a six-year low in the previous month.

    The data raised the prospects of a US interest rate hike in the near term and comes before a carefully watched non-farm payrolls report on Friday.

    The Dow Jones Industrial Average was up 112.58 points, or 0.62%, at 18,281.03.  The S&P 500 was up 9.24 points, or 0.43%, at 2,159.73 and the Nasdaq Composite was up 26.36 points, or 0.50%, at 5,316.02.

  4. Credit Suisse fined $90m by US regulators

    The logo of Swiss bank Credit Suisse is seen below the Swiss national flag at a building in the Federal Square in Bern, Switzerland

    European banks are really getting it in the neck from the US authorities.

    Here is another fine: $90m, levied on Credit Suisse.

    Reuters reports that "the bank misrepresented to investors how it determined a performance metric in its wealth management business".

    Reuters adds: "The Securities and Exchange Commission said that in addition to its settlement with the bank, former Credit Suisse executive Rolf Bogli also agreed to settle and pay $80,000 for his role in the violations." 

  5. Wells Fargo 'disappointed' by Chicago suspension

    "Wells Fargo is disappointed that the Chicago City Council has chosen to suspend a relationship with one of the nation's safest and strongest financial institutions" it said in a statement, "at a time when the city needs access to dependable financial partners."

  6. Jose Cuervo maker 'delays flotation until after US election'

    Jose Cuervo packaging

    Jose Cuervo maker Becle, the world's biggest tequila producer, has delayed its planned stock market flotation until after the US presidential election, the Reuters news agency reports.

    Concern about market volatility meant that the firm had decided to postpone the listing, Reuters said. 

  7. Contractor charged with theft of classified US documents

    The US Justice Department has charged contractor Harold Thomas Martin with theft of classified government material, according to a criminal complaint that has been unsealed.

    Six documents investigators found in Mr Martin's possession allegedly contained sensitive intelligence and were produced by a US government agency in 2014.

    "These six documents were produced through sensitive government sources, methods, and capabilities, which are critical to a wide variety of national security issues," the complaint said.

    Mr Martin had a top secret national security clearance and the ability to access US government property that was not permitted to leave its authorised location, according to the complaint.

    Contracting firm Booz Allen Hamilton said it was cooperating with an FBI investigation.

  8. Businesses criticise UK's foreign worker stance

    Video content

    Video caption: Should it be harder for British companies to employ people from abroad?

    Immigration was a big issue for many people in the referendum on Britain's place in the European Union.

    The UK's new prime minister Theresa May wants to cut the numbers coming to live and work in the UK, and wants companies to employ more locals and fewer foreigners.

    The government is considering forcing British businesses to disclose how many foreign citizens they employ.

    But some company bosses are horrified by the plans.

    Lord Bilimoria set up the Cobra Beer empire in Britain after he moved to the country from India.

    He told Rob Young he thinks the government is behaving appallingly. 

  9. Southern 'to run more trains during strike'

    Southern passengers

    Rail operator Southern has said it is to run more trains and buses should a planned strike by RMT union members go ahead between 00:01 BST Tuesday 11 October and 23:59 BST Thursday 13 October.

    On Monday Southern got into hot water when it asked beleaguered passengers to tell the RMT union how they feel about the ongoing strikes.

    Southern tweeted: "Time to get back on track. Tweet @RMTunion & tell them how rail strikes make you feel."  

    Dozens of passengers immediately responded, including Marianne Powell who tweeted: "You brought this on yourselves. We, your customers are suffering."

    Another passenger, Simon Cox, posted: "I dislike unions but I dislike incompetent management more."

    Southern later called for posters asking people to contact the union to be destroyed due to "extremely negative public sentiment around the brand".

  10. NSA contractor 'arrested over code theft suspicions'

    A contractor for US intelligence agency the NSA has been arrested on suspicion of stealing code developed to hack into the networks of countries such as Russia, China, Iran and North Korea, the New York Times reports.

    The contractor worked for Booz Allen Hamilton - the firm which employed whistleblower Edward Snowden. 

  11. McDonald's hit with sexual harassment complaints

    McDonald sign overlooks the counter at a McDonald's restaurant

    Fight for $15 has filed complaints on behalf of 15 McDonald's workers in the US who say they were sexually harassed on the job.

    The group, which has organised strikes and protests calling for employers to raise wages, said it filed the complaints with the US Equal Employment Opportunity Commission against McDonald's and individual franchisees in eight states over the last month.

    At least two of the staff were propositioned, with one of them being offered money by a supervisor, according to the complaints.

    "As the country's second-largest employer, McDonald's has a responsibility to set standards in both the fast-food industry and the economy overall," said Kendall Fells, organising director for Fight for $15.

    A McDonald's spokeswoman said the company takes harassment complaints seriously and was reviewing the allegations.

    "At McDonald's, we and our independent owner-operators share a deep commitment to the respectful treatment of everyone," she said.

  12. Wells Fargo fallout

    Wells Fargo branch in the US

    The Wells Fargo scandal in the US continues to take its toll on the bank.

    The City Council of Chicago has decided to stop using the bank, for any business, for one year.

    The bank was found recently to have opened two million bogus accounts for its customers so it could charge them extra fees.

    The state of California has already announced that it would not use Wells Fargo for a year.

  13. Merkel: US trade deal talks 'should continue as long as possible'

    Angela Merkel

    German Chancellor Angela Merkel has said the European Union and the US should continue to negotiate the controversial Transatlantic Trade and Investment Partnership (TTIP) trade deal.

    "We are still continuing the discussions about TTIP and I think we should continue them as long as possible," Ms Merkel said. "We will never fall below the standards set by the European Union."

    German Economy Minister Sigmar Gabriel triggered an intense debate in Europe about the trade deal when he said in August that the talks had effectively failed because Washington did not want to compromise with its European counterparts.

  14. Italy 'should do more to tackle bad bank loans' says IMF


    The Italian government has taken measures to tackle bad loans but this may not be enough to strengthen its ailing banking system, the International Monetary Fund has said.

    A three-year long recession left a legacy of more than €200bn (£176bn) in non-performing loans on Italian banks' balance sheets, and uncertainty over the value of these loans has depressed investors' appetite for the country's banks, the IMF said in its Global Financial Stability Report.

  15. Ireland data watchdog looks into Yahoo surveillance

    Yahoo logo

    Ireland's Data Protection Commissioner, the main European regulator on privacy issues for Yahoo, has said it is making enquiries about a report that Yahoo had scanned all of its customers' emails at the behest of the US government.

    "Any form of mass surveillance infringing on the fundamental privacy rights of EU citizens would be viewed as a matter of considerable concern," the regulator said.

  16. Yahoo says secret mail scanning 'does not exist'

    Yahoo logo

    A Reuters report yesterday said that Yahoo secretly scanned millions of its users' email accounts on behalf of the US government.

    Yahoo has come back with a very carefully worded statement:

    "The article is misleading. We narrowly interpret every government request for user data to minimise disclosure. The mail scanning described in the article does not exist on our systems."

  17. Oil prices surge after surprise drop in US stocks

    Brent crude futures prices

    Crude oil prices have risen to their highest since June after a surprise drop in US inventories.

    Brent crude was up $1.07, or 2.1%, at $51.94 a barrel, and West Texas Intermediate was up 1.8% or 89 cents, at $49.58 a barrel.

  18. Russia 'takes more steps to ditch US software'


    Is this part of a growing software Cold War? Probably not, but it's still quite interesting.

    The Russian Duma is drafting a bill that will direct government agencies towards ditching software from US firms such as Microsoft, IBM and Oracle, due to security concerns, Bloomberg Markets reports.

    The legislation would mean government agencies would give preference to so-called "open source" software, which can be adapted and used without paying a licence fee.