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Summary

  1. UK growth surprisingly strong at 0.5%
  2. Nissan commits to expand Sunderland plant
  3. Twitter to cut 9% of global workforce
  4. Deutsche Bank makes surprise quarterly profit
  5. Barclays reports 35% increase in profit

Live Reporting

By Catherine Snowdon

All times stated are UK

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  1. Bath time...

    Rubber duckie

    We know you'll be disappointed, but Business Live is taking an early bath due to illness here at New Broadcasting House.

    However, we will bring you stories later tonight on results from Amazon and Google, as well as Apple's Macbook launch, so stay tuned to the BBC News website.

    Thanks for reading and we will be back as usual at 06:00 tomorrow.

  2. FTSE climbs

    The FTSE 100 has ended the day 0.4% higher, or 28.4 points, at 6,986.5 points.

    The biggest riser was Barclays, up 4.8%, while Barratt Developments fell 7.7% after going ex-dividend.

    There were some big falls on the mid-cap FTSE 250, with oilfield services Amec Foster Wheeler plunging 20% after warning of challenges in the sector next year.

    Textile services firm Berendsen fell 16.4% after issuing a profit warning.

    The 250 fell 0.5% to end at 17,581 points.

  3. No help needed, says HMRC

    The boss of HM Revenue and Customs, Jon Thompson, has told the Treasury select committee that it will not seek a third party to help it "in any way" with the tax credit system after deciding to end its contract with Concentrix. 

    The US company was brought in to cut fraud and error in the benefit system, but there were widespread complaints that claimants wrongly had their benefits cut and that calls went unanswered.

    Mr Thompson told the committee that a fundamental issue appeared to be not having enough people to answer calls. He said problems with people struggling to get through on the phones started in mid-August - but he was not alerted until three weeks later, on 5 September.

    He told MPs on the committee: "There's a lesson there in that it took three weeks to get to me. But once we stepped in... we deployed extra HMRC staff." 

  4. $38bn semiconductor deal

    Chris Johnston

    Business reporter

    A company you've never heard - Qualcomm - is buying NXP Semiconductors (another firm that's not quite a household name) for about $38bn in what is the biggest deal in the semiconductor sector.

    The deal will make Qualcomm, which provides chips to Android smartphone makers and Apple, the top supplier of chips to the automotive industry and help to reduce its dependence on the smartphone market. 

    Combining San Diego-based Qualcomm with Eindhoven-based NXP will create an entity with annual revenue of more than $30bn.

  5. 'Extreme chemistry' of man-made gemstones

    Elaborate chemistry goes into man-made gemstones. Ritu Raj of manufacturers Diamond Foundry explains the process to the BBC's Ed Butler.  

    Video content

    Video caption: The extreme chemistry that goes into man-made gemstones.
  6. VW lifts forecast

    VW logo on a company building

    German auto giant Volkswagen has lifted its forecast for the year after swinging back to profit, but the fallout from the group's "dieselgate" emissions cheating scandal weighed heavily on its luxury brand Audi. 

    One year on from the crisis, the VW group's recovery appeared on track as it posted net profit of €2.3bn euros (£2 billion) for the three months to September. 

  7. Tata quiz - test your knowledge

    Cyrus Mistry

    Been following the Tata Sons scandal closely? Try your hand at this quiz to see just how much you know about Cyrus Mistry's removal as chairman and the ensuing war of words.

  8. Chinese takeover blocked by German government

    Osram light bulbs

    Reports have emerged of the German government blocking another Chinese takeover.

    Apparently a Chinese request for approval of a planned takeover of lighting solutions company Osram's Ledvance unit has been denied.

    Earlier this year, Osram had agreed to sell its general lighting lamps business Ledvance to a consortium of Chinese buyers, including lighting company MLS for more than €400m (£357m). 

    The report comes after the German government put on hold the sale of semiconductor manufacturing equipment maker Aixtron to China's Fujian Grand Chip Investment Fund, citing security concerns.

  9. Sterling not flying

    The pound has bounced around a bit today, despite good GDP news in the UK.

    Howard Archer, chief european & UK economist at IHS Markit tweets:

    View more on twitter
  10. Co-operative energy apologises

    Ben Reid, chief executive of Midcounties Co-operative, said: 

    "As the UK's only member-owned energy supplier, we put our customers at the heart of everything we do and their interests first. 

    "We have apologised to those customers who were affected by the problems we experienced when we introduced a new IT system last year. 

    "The system issues are now resolved and we have made significant improvements to our service."

  11. US markets open strong

    US stocks opened higher after a flurry of strong quarterly earnings in the healthcare sector and a multi-billion dollar technology deal boosted investor sentiment. 

    Investors clearly saw Qualcomm's deal to buy NXP Semiconductors for about $47bn (£38.5) as a sign of confidence in the US equity market.  

    The Dow Jones industrial average was up 49.89 points, or 0.27%, at 18,249.22, the S&P 500 was up 7.64 points, or 0.36%, at 2,147.07 and the Nasdaq composite was up 23.05 points, or 0.44%, at 5,273.32

  12. Bank and Chancellor will 'keep powder dry'

    The better-than-expected economic growth figures are likely to make the Bank of England and the Chancellor more cautious next month, according to George Osborne's former chief of staff.

    Rupert Harrison - dubbed the "real Chancellor" when he worked in Downing Street - gets extra points for fitting it all into one tweet:

    View more on twitter
  13. Co-operative Energy's £1.8m payout

    Co-operative energy website

    Co-operative Energy has been fined £1.6m by energy regulators Ofgem for IT, billing and complaints failings.

    Customers were unable to log into their accounts online, preventing them from submitting meter readings or checking their bill, the regulator found. 

    Other problems included bill delays, problems for new customers, and slow response to customer complaints.

    The issues were the result of a new IT system in March 2015.

  14. Hammond hi-vis update

    Philip Hammond raised hopes earlier that he might make his debut in a hi-vis jacket since becoming Chancellor (see post at 10:00).  

    He's been visiting Southampton port but photographic evidence would suggest he jettisoned the fluorescent outerwear favoured by his predecessor...

    View more on twitter
  15. Listen: Nissan executive says there is no 'special deal'

    The World at One

    BBC Radio 4

    Nissan has received no "special deal" from the UK government to build two new models at its Sunderland plant, one of its senior bosses has insisted. 

    Colin Lawther, Nissan's senior vice president for manufacturing in Europe, told presenter Martha Kearney he would expect nothing for his company which was not available for the rest of the automotive industry.  

    Video content

    Video caption: Nissan boss Colin Lawther explains why the company will build two models in Sunderland
  16. Belgian agreement reached on Canada-EU deal

    Belgium's rebel regions are now ready to approve the delayed Canada-EU trade deal by tomorrow night, according to the country's PM Charles Michel. 

    The EU and Canada welcomed the end of the deadlock with Belgium's French-speaking regions.

    A date for the deal to be formally signed will be set "soon", the European Commission said.

    View more on twitter
  17. Economic growth: Your views

    Here are some of the responses we've had to today's economic figures. 

    GDP grew 0.5% -more than many economists had expected - in the three months since the referendum.