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  1. Dow Jones breaks through 20,000 barrier for first time ever
  2. Pound hits six week high against dollar
  3. US fund manager files claim against Tesco over accountancy scandal
  4. Airbag maker Takata's shares soar 18%
  5. Get in touch:

Live Reporting

By Karen Hoggan

All times stated are UK

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  1. Post update

    That's all from the Livepage today. Join us again from 6am tomorrow when, no doubt, there will be more about this evening's breaking story that RBS is setting aside another £3bn to pay for fines.

  2. Dow Jones finishes above 20,000 points for first time

    US stocks climbed on Wednesday and the Dow Jones Industrial Average closed above the 20,000 mark for the first time as solid earnings and optimism over President Donald Trump's pro-growth initiatives revitalised a post-election rally.

    The Dow rose 0.78% to close at 20,068.51 points. The S&P 500 gained 0.8% to 2,298.37, and the Nasdaq added 0.99% to 5,656.34.

  3. RBS to set aside £3bn for subprime fines

    Simon Jack

    BBC Business Editor

    Royal Bank of Scotland will take another financial hit when it sets aside a further $4bn (£3bn) for fines. 

    As early as Thursday morning it will announce it has now put nearly $10bn in the kitty to pay a monster fine from the US Department of Justice.

     It relates to the bank's role in the selling of risky mortgages - the so called subprime crisis - which was at the epicentre of the financial crisis. 

     This will plunge RBS, 72% owned by the taxpayer, further into the red. It will make 2016 the ninth year in a row that RBS has lost money. 

    Read Simon's story in full.

  4. Whisky Galore

    Bottles of Whisky

    Scotch whisky contributes nearly £5bn a year to the UK economy, according to research commissioned by the industry.

    The Scotch Whisky Association (SWA) said more than 40,000 jobs were supported by the industry across the UK, including 7,000 in rural areas.

    The research also found that Scotch made a positive contribution to the UK's balance of trade of almost £3.7bn.

    Exports were estimated to worth about £4bn while imports, such as packaging and casks, totalled only £200m. Read more here

  5. 'Aircraft delays set to increase'

    Air traffic control tower

    Flight delays will increase substantially in the next few years unless UK airspace is modernised, the UK's transport secretary has warned.

    Chris Grayling told an audience of airline bosses this evening that an overhaul of the way aircraft are directed is overdue because the sky has become increasingly congested. 

    He believes new technologies can make the routes used by planes taking off or landing more efficient, leading to a boost in capacity and a reduction in delays, noise for communities and emissions. 

    Speaking at an event organised by trade body Airlines UK, Mr Grayling said: "While modern aircraft are fitted with the latest satellite navigation technology, most of our airspace arrangements are half a century old. 

    "Without action, flight delays will increase enormously in the next few years. This wouldn't just be damaging for passengers, but also for the economy and the environment. That is why I am determined to address this challenge," Mr Grayling said.

  6. Euro could fail says the US's possible EU ambassador

    Video content

    Video caption: Prof Ted Malloch, a possible US ambassador to the EU, is gloomy about the euro's future.

    The man tipped to be Donald Trump's ambassador to the European Union has told the BBC the single currency "could collapse" in the next 18 months.

    Professor Ted Malloch tells the BBC's economics editor, Kamal Ahmed, that he would "short the euro" in expectation that the value of the currency will fall.

    He also believes Britain could agree a "mutually beneficial" free trade deal with America in as little as 90 days.  

  7. Dow Jones latest update

    The Dow Jones Industrial Average is still ahead in late afternoon trading.

    A short while ago it was at 20,059.31, a rise of 147 points or 0.74%.

    The BBC's New York business correspondent says if it closes above 20,000 level, it will have reached its latest 1,000-point milestone two months after closing above 19,000 

  8. Loganair wins two minute flight contract

    Loganair tail fins designed by children

    Loganair has retained the contract to operate the air service which includes the shortest scheduled flight in the world.

    The Orkney inter-isles air service is well-known for the 1.7 mile jump between Westray and Papa Westray.

    Orkney Islands Council awarded the contract to Loganair for at least the next four years, despite what was said to be "stiff competition".

    The leg normally takes two minutes but can be done in 47 seconds if the winds helps. Read more here

  9. First three days

    BBC World Service

    As we've been reporting, the first few days of Donald Trump's presidency have seen a flurry of executive orders. 

    He's given the go-ahead to two controversial oil pipelines, withdrawn the US from the 12-nation Trans-Pacific Partnership trade deal, and repeated his warning that companies choosing to make their goods outside America, will face a hefty 35% tax if they try to import them. 

    The BBC's Mike Johnson reflected on the presidency so far with one of World Business Report's regular commentators, the US economist Irwin Stelzer of the Hudson Institute. 

    He started by asking what Dr Stelzer thought about the inauguration speech.  

    Video content

    Video caption: We reflect on US president Donald Trump's first few days in office.
  10. Govia to be sacked from Southern?

    Stationery Southern trains in a row

    We are grateful to the magazine Rail Business Intelligence for this fascinating tit-bit.

    It reports that the government is considering sacking Govia from its contract to run the Southern railway franchise in southern England.

    The services there have been in a state of almost perpetual chaos for many months, due to a combination of staff shortages, reduced timetables, strikes by conductors and drivers, and - many passengers say - management incompetence.

    The magazine says the Department for Transport is preparing a number of options.

    These range from from splitting Southern from the Thameslink service, to taking direct control of the entire franchise until a new contract could be let. 

    Apparently the plan has its own codename and a potential interim managing director has been identified. 

  11. Trump orders US-Mexico border wall

    President Donald Trump has issued an executive order for a wall to be built along the southern US border with Mexico.

    He also signed an action to strip funds from US cities that are sanctuaries for undocumented immigrants. Read more here

  12. China broadens export ban

    BBC World Service

    China has expanded its ban on goods exported to North Korea that could potentially be used to build weapons of mass destruction, BBC World Service reports.

    China's ministry of commerce released the list in collaboration with several other high-level Chinese government agencies, banning items ranging from drone software to high-speed video cameras. 

    The lengthy list was said to comply with new UN sanctions imposed in November in response to North Korea's ongoing nuclear weapons development.

    China is one of the few major countries that continues to buy some North Korean products.   

  13. Shulman 'an inspired choice'

    BBC Radio 5 live

    Alexandra Shulman

    The former editor of Cosmopolitan magazine, Marcelle D'Argy Smith, has told Radio 5 live that British Vogue editor Alexandra Shulman was "an inspired choice" to lead the magazine.

    It's been announced today that Ms Shulman will step down from the post this summer after 25 years at the helm.

    During her tenure the magazine's circulation increased by 12%.

    Explaining Ms Shulman's success, Ms D'Argy Smith said: "She's very smart, she really captured readers. She hired first class journalists.

    "You really live on your advertising... She had and attracted the best names to advertise."

  14. How high will the Trump jump go?

    More analysis of the the Dow at record highs ...

    Quote Message: The Trump jump has propelled the Dow Jones to an unprecedented level, as investors pile into US stocks in anticipation of lower corporate taxes and more government spending. Stock indices in the US and UK may well be at or near record highs, however when the earnings generated by companies in these markets are factored in, stock valuations show neither the extreme pessimism of 2008, nor the irrational exuberance of 1999. This means they are trading somewhere in the middle of their range, so are neither exceptionally cheap or hideously expensive. In the short term the stock market could move in either direction, but for long term investors it still makes sense to keep a healthy slug of their portfolio in equities. from Laith Khalaf Senior analyst, Hargreaves Lansdown
    Laith KhalafSenior analyst, Hargreaves Lansdown
  15. Pound still ahead

    Pound dollar graph 25 January 2017

    Let's check in on how the pound is doing - and it's still ahead against the dollar, trading up 0.76% at 1.2615. 

    It's been given a boost by the announcement that the government will publish a Brexit White Paper, setting out its proposals for future legislation. 

    Meanwhile the dollar has fallen, prompted by fears that President Donald Trump is focusing too much on protectionism and not enough on pro-growth policies 

  16. All change for energy?

    BP logo

    The 2017 BP Energy Outlook, published on Wednesday, highlights the fact that traditional centres of demand for energy are being overtaken by fast-growing emerging markets. 

    It forecasts that global demand for energy will grow by about 30% between 2015 and 2035, an average growth of 1.3% per year. But, it points out, this growth in energy demand is markedly lower than the 3.4% per year rise expected in global GDP, "reflecting improved energy efficiency driven by technology improvements and environmental concerns".

    While non-fossil fuels are expected to account for half of the growth in energy supplies over the next 20 years, the report projects that oil and gas, along with coal, will remain the main source of energy, accounting for more than 75% of total global energy supply in 2035, compared with 86% in 2015. 

    However, it's expects that demand for oil will come from different sectors in the future. “The possibility that the most important source of growth in oil demand in the 2030s won’t be to power cars or trucks or planes, but rather used as an input into other products, such as plastics and fabrics, is quite a change from the past,” says Spencer Dale, BP's group chief economist.

    Renewables are projected to be the fastest growing fuel source, growing at an average rate of 7.6% per year, driven by the increasing competitiveness of both solar and wind, the report says.  China is the largest source of growth for renewables over the next 20 years, adding more renewable power than the EU and US combined, it adds.