Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Summary

  1. FTSE 100 ends flat
  2. Euro eases after Macron victory
  3. Macron adviser gives softer line on Brexit
  4. UK house prices stagnate - Halifax
  5. Get in touch: bizlivepage@bbc.co.uk

Live Reporting

By Karen Hoggan

All times stated are UK

Get involved

  1. Good night

    That's it for another day on Business Live. 

    Thank you for staying with us. 

    Do join us tomorrow from 6am for all the latest financial news, reaction and analysis.

  2. Time to chill

    Joe Biden holding two ice creams

    Joe Biden says it himself - he's a massive fan of ice cream - apparently chocolate chip is his favourite.

    In fact the former US V-P's love of the dairy treat has become a bit of a thing with internet memes springing up on the topic.

    So Cornell University - which happens to have its very own dairy processing plant - is creating a flavour in his honour for when he comes to visit at the end of this month.

    But what to call it?

    Shortlisted names include: Bits n’ Biden; Big Red, White & Biden; and Not Your Average Joe’s Chocolate Chip.

    Apparently they've already made 90 gallons of it. But will it be enough?

  3. Bag your share

    Two companies did see their shares boosted today though after Coach announced it was taking over younger rival Kate Spade.

    Coach shares were nearly 5% higher and Kate Spade shares were up 8%.

  4. US markets take it easy

    The share markets haven't been overly impressed by Macron's win, or by anything else today.

    It was news as expected.

    At the close the Dow Jones was 5 points higher, or 0.02%, at 21,011.94.

    The S&P 500 was flat at 2,399.37 

    And the Nasdaq Composite added 1.9 points, or 0.03% to end the day at 6,102.66.

  5. Coach and Spade

    Kate Spade bags

    Will the tie up between smart bagmakers Coach and Kate Spade work?

    Richard Kestenbaum, of Triangle Capital, (a bit of an expert in the field of mergers in the retail sector) explores the topic for Fortune magazine. And he's not convinced. 

    He reckons while both firms are doing well, both are also mature businesses and may not have enough room for growth once combined.

    "Both brands are legacy brands and this is a questionable time for brands that have been long established in a bricks and mortar world. And it’s not clear that as consumers change they will come along with the brands they previously liked," he writes.

  6. Full stream ahead

    Ed Sheeran
    Image caption: Some of it can be explained by the success of this man

    Warner Music Group says streaming has helped digital revenues jump by more than fifth in the first quarter.

    Steve Cooper, Warner Music chief executive, says streaming revenue is now double that of physical sales and triple that of downloads.

    Read more here.

  7. Kushner family apologises

    Kushner Companies logo

    A company owned by the family of Jared Kushner, Donald Trump's son-in-law and senior adviser, has apologised for mentioning him at a Chinese conference.

    Nicole Kushner Meyer used her brother's name while promoting an investment-for-visas scheme in Beijing and Shanghai.

    Critics were quick to accuse the family business of playing up its connection to the White House at the event.

    But the company said on Monday the comments were misconstrued and Ms Meyer was only pointing out he had left the firm. Read more here

  8. What migration targets mean for business

    BBC business editor tweets

    Prime Minister Theresa May has insisted that leaving the European Union will help the UK reduce net migration to "tens of thousands" a year. 

    The commitment is set to form part of the Conservatives' General Election manifesto, even though the party has failed to reach the target while in Government.

    Coming up on BBC News at Ten - companies react to the pledge ... 

    View more on twitter
  9. Oil ahead on hope supply curbs will be extended

    Intraday Brent Crude price 8 May 2017

    Let's quickly check in on the oil price now - and a barrel of Brent Crude is ahead of the previous close at $49.3, that's up 0.6%.

    A barrel of West Texas Intermediate is at $46.44, a rise of 0.5%. 

    It's been a bit of an up and down day for oil but the markets are still hoping that Opec members will extend their supply curbs.

    However, Eugen Weinberg, head of commodity research at Commerzbank said: "The market is getting tired of hearing from OPEC how good they are, how compliant (with supply curbs) they are and especially how all their projections for inventories falling seemed to be moved into the future."

    Those claims do no withstand the reality check with the inventories staying stubbornly high and non-OPEC production rising strongly," he added.

  10. Germany needs 'to help' France

    Emmanuel Macron (R) and Francois Hollande (L)

    The German foreign minister, Sigmar Gabriel, said it was a relief that Emmanuel Macron had won in the French election. But he warned other countries, including Germany, needed to help the new president realise his reforms. 

    Quote Message: He ( Mr Macron) needs to have success now otherwise the next president after him might be Marine LePen. Macron wants reforms, so he needs time to reduce the deficit. If at the same time he destroys growth and jobs he will lose. That's why I say that Germany has to stop treating France like a student. We need to help and we need German-French investment projects and we have to make sure that the eurozone finally is doing more against unemployment. from Sigmar Gabriel
    Sigmar Gabriel
  11. US TV sector consolidates

    Sinclair logo

    The number of companies that own US television stations is about to get smaller.  

    Sinclair Broadcast Group, which operates hundreds of local channels, said on Monday it would buy a smaller rival in a stock deal valued at $3.9bn.  

    The deal for Chicago-based Tribune Media would create a company with 233 local television stations in 108 markets, if approved by regulators.  

    Sinclair, based in Maryland, is known for its conservative editorial stance. In April, the company announced it was hiring a former special assistant to US President Donald Trump.

    Tribune Media owns or operates 42 television stations in 33 markets. Until 2014, it was part of a larger company that included newspapers such as the Los Angeles Times.  

    The US Federal Communications Commission recently loosened rules governing local television station ownership and consolidation.

    Sinclair said it expects the purchase to go through by the end of the year.

  12. French labour laws set for shake-up?

    BBC World Service

    View more on twitter

    World Business Report talked to Sophie Pedder, Paris bureau chief of The Economist and Pierre Gattaz, president of the French employers' organisation MEDEF.

  13. New rules spark rise in safety fines

    Building site from above

    The amount UK firms paid out in health and safety fines rose sharply last year following the introduction of tougher rules, new research has found.

    Law firm BLM said there were 292 fines issued during the year, with more than £61m paid out in total - a 148% rise since 2015.

    The average cost of a fine rose from £69,500 to £211,000.

    BLM partner Helen Devery said strong safety processes were vital for businesses "big or small". Read more here

  14. Directory enquiries costs 'should be given up front'

    BBC Radio 5 live

    Man waring telephone headset

    Telecoms regulator Ofcom says it is "very concerned" about the rising cost of calling directory enquiries and plans to examine the situation.

    One popular enquiry service - 118 118 - recently increased its prices to a minimum of £8.98.

    In a previous enquiry the watchdog decided against imposing a stipulated price cap on such charges, but it could now review that decision.

    The head of the Fair Telecoms Campaign, David Hickson, told 5live that simple services which just supply a number and location are available much cheaper, but people don't know about them and no-one has quality checked them

    Higher priced lines offer "bells and whistles", for example texting customers the number. 

    He said that's OK if people are willing to pay, but for the basic function of looking up a number people should be able to do it a lot cheaper. 

    The Fair Telecoms Campaign is calling for firms to warn about the costs at start of call.

    "Being told what you're paying after you're paying isn't really much good, is it?" he said. 

    Older people without smartphones are the most vulnerable.

    The Campaign wants an investigation into people "trapped into calling these numbers in all sorts of devious ways". 

  15. Euro fails to sustain rally

    The euro was down against the dollar on Monday at $1.0926, a fall of 0.66%.

    It was also down against the pound at £0.8450, that's 0.27% lower.  

    Overnight the euro hit a six month high against the dollar - above $1.10 - as Emmanuel Macron's won the election. However, it didn't sustain the rally.

  16. Sterling down against dollar, up against euro

    Sterling, dollars and euros

    The pound was down slightly against the US dollar at 1.2937, a fall of 0.35%

    Meanwhile, it was up against the  euro at 1.1838 euros, a rise of 0.3%.

    The pound has risen more than 3% against the dollar since Prime Minister Theresa May called a surprise general election three weeks ago. The gains were prompted by hopes among investors that a strong win for the Conservatives would give Mrs May more leeway in Brexit negotiations. 

    However, the gains have stalled over the past week amid concern about how the UK economy will cope post-Brexit. 

    "There is no reason for the pound to really gain at the moment, because every time it does you have to stop and say that the risks ahead are still tremendous," said Esther Reichelt, a strategist with Commerzbank in Frankfurt.

    "If you look at pricing, the market is remarkably calm with regard to the election. That ignores that a lot of the risk is with the EU and that it may be hard for May to achieve a lot of what she is promising."

    Later this week the Bank of England' Monetary Policy Committee will meet to make its latest decision on interest rates.

  17. Kolkata nightclubs must breathalyse customers

    BBC World Service

    Police in the Indian city of Kolkata have told nightclubs that, if they want to have a liquor licence beyond midnight, they must agree to breathalyse their customers when they leave - and make arrangements for them to be driven home if they've had too much to drink, reports BBC World Service. 

    The order was given during a meeting between the city police and leading bars and restaurants who often apply for late night licences. 

    Drink-driving is causing growing concern in India. Last month, it introduced a nationwide ban on selling alcohol within five-hundred metres of main roads.  

  18. ChemChina and Sinochem in merger deal?

    ChemChina office

    ChemChina and Sinochem are planning to merge next year in a move which would create the biggest chemicals group in the world, the Financial Times reports, quoting "several senior bankers in Asia".  

    The paper says the new group would have revenues of $100bn (£77bn). 

    ChemChina is already set to take over Swiss agrochemicals company Syngenta.

    The FT says the merger of ChemChina and Sinochem will ensure ChemChina has enough financial muscle to absorb Sygnenta. 

  19. Cac down nearly 1%

    In Paris, the Cac 40 closed down on the day at 5,382.95, a fall of 49 points or 0.91%. 

    At the start of trading the Cac had hit a nine year high following Emmanuel Macron's election victory.

    The Cac had been doing well since Mr Macron won the first round of voting two weeks ago. 

    Analysts say investors are now asking whether Mr Macron can push through his economic proposals.