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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. FTSE 100 closes 0.2% down
  3. Pound falls below $1.27
  4. French shares rise after poll success for Macron's party
  5. General Electric's Jeff Immelt to retire
  6. World's oldest stamp firm - Stanley Gibbons - for sale

Live Reporting

By Russell Hotten

All times stated are UK

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  1. Post update

    It's bye, bye from the livepage for another day. We'll be back from 6am tomorrow.

  2. Tech shares send Wall Street lower

    Wall Street's stock markets closed down, with high-flying technology giants like Apple and Netflix suffering another bruising session that analysts attributed to profit taking.

    Apple fell 2.5%, Amazon 1.4% and Netflix 4.2% - with all three companies having fallen on Friday.

    The tech-rich Nasdaq fell 0.5% to 6,175.46 points. The Dow Jones lost 0.2% to close at 21,235.67, while the S&P 500 shed 0.1% to 2,429.39.

    Energy shares again posted modest advances, after scoring strong gains on Friday. Other sectors, such as financials and consumer stocks, avoided big moves.

    General Electric shot up 3.6% after announcing that GE Healthcare president John Flannery would be promoted to chief executive, replacing Jeff Immelt, the long-time chief who is retiring. The shift comes as GE faces pressure to cut costs.

  3. France vows to cut nuclear power

    EDF's Chooz nuclear plant
    Image caption: The nuclear reactor at EDF's Chooz plant in northern France is already in the final phases of being dismantled.

    French environment and energy minister Nicolas Hulot said on Monday that the government plans to close some nuclear reactors of state-controlled utility EDF to reduce nuclear's share of the country's power mix.

    Hulot told reporters at the G7 environment summit in the Italian city of Bologna that it was too early to give numbers about France's aim to reduce the share of nuclear in its power generation to 50% from the current 75%.

    "We are going to close some nuclear reactors and it won't be just a symbolic move," he said.

  4. GE must sell to get oil merger clearance

    More on General Electric - although this time not about its new chief executive.

    US antitrust regulators have said the company must to divest one of its units in order to win approval for the merger of its oil services business with Baker Hughes.

    Without the sale, the proposed merger would threaten competition in the petroleum refining business where the two companies compete vigorously, the Justice Department said.

    Both companies supply chemicals to prevent corrosion and damage to petroleum refinery equipment, and the department said the sale of the GE's water and process technologies business would resolve the competitiveness concerns and allow it to approve the deal with Baker Hughes.

    "Today's action will ensure that oil and gas refiners continue to receive competitive prices," said acting assistant attorney general Andrew Finch of the antitrust division.

    GE in October 2016 announced the proposed merger of its oil services business with Baker Hughes, the third biggest company in the sector after Schlumberger and Halliburton.

  5. New GE boss promises review

    John Flannery

    The incoming boss of industrial giant General Electric has promised a swift review of the business.

    John Flannery, who is taking over from long-serving Jeff Immelt, told Reuters: "I'm going to do a fast but deliberate, methodical review of the whole company. The board has encouraged me to come in and look at it afresh."

    Investors have become impatient at GE's progress, and shares in maker of jet engines, power plants and medical scanners have fallen about 15% this year.

  6. Wall Street update

    Wall Street's main markets pared losses in late trading. With about 30 minutes to the close, the Dow Jones and S&P were about 0.2% down, while the Nasdaq was 0.6% lower.

    Tech stocks were still big losers. Apple was down 3.4%, although other tech heavyweights Alphabet, Facebook and Microsoft also were down.

    At the same time, energy shares, which have had the biggest declines so far this year, added to gains made on Friday.

    "You're seeing a rotation. You're seeing people not want to come out of the market. They're selling what's been a winner, rotating into what's been a loser because they want to stay in the market," said Michael O'Rourke, chief market strategist at Jones Trading in Connecticut.

  7. Trump: another legal headache

    Donald Trump

    Here are the BBC's Anthony Zurcher's thoughts on the latest legal battle facing US president Donald Trump - the lawsuits over payments from foreign governments via his business empire.

    "The constitutional challenges to Donald Trump's ongoing business ties as president just got some state-level muscle behind them.

    "While the lawsuit by the District of Columbia and Maryland isn't the first attempt to force the president to more fully separate himself from his real-estate empire, the two governments bring a new level of legitimacy and resources.

    "The first hurdle the states face is whether they have the proper legal grounds to file this case. Given that this is judicial terra incognita, there's no telling how the courts will react.

    "There's never been a businessman-turned-president quite like Mr Trump, so there's never been a lawsuit quite like this one.

    "If Maryland and DC are able to proceed, the case could turn out like many other Trump-related controversies, where the president's own words - and those of his associates - are used against him.

    "While Mr Trump pledged to extricate himself from his day-to-day business operations, his son Eric has acknowledged he still gives his father regular financial updates. Senior adviser Kellyanne Conway also was recently reprimanded for praising daughter Ivanka's clothing line.

    "Even in a best-case scenario for the president, this represents the latest in a growing list of legal headaches."

  8. Trump sued over foreign payments

    The outside of the Trump International Hotel

    Officials in Maryland and Washington DC are suing Donald Trump for accepting payments from foreign governments via his business empire.

    The lawsuit cites the US constitution's emoluments clause, which says no federal official should receive a gift or a fee from a foreign government.

    The suit - which is the first of its kind filed by government entities - claims Mr Trump is "flagrantly violating the constitution".

    The White House has denied the claims.

    The attorneys general for the District of Columbia and Marlyand, Karl Racine and Brian Frosh, announced the lawsuit on Monday.

    "Never in the history of this country have we had a president with these kinds of extensive business entanglements or a president who refused to adequately distance himself from their holdings," said Mr Racine.

  9. AIB sale timetable begins

    AIB cashpoint

    Shares in Allied Irish Banks will be priced at between €3.90 and €4.90 when a 25% stake is floated in Dublin and London, valuing the state-owned lender at up to €13.3bn (£11.8bn), Ireland's finance ministry said in a statement.

    The initial public offering is set to be one of Europe's largest share listings by a bank since the 2008 financial crisis. It could raise up to €3.8bn euros assuming full exercise of the offering's over-allotment option.

    The Finance Ministry said the long long-awaited sale of a 25% stake in the state-owned lender was still on track despite the Conservative party losing its majority in the UK election on Thursday.

    "Market conditions remain favourable and I am encouraged by the strong level of interest shown by investors in the offering to date," said Finance Minister Michael Noonan.

    Dublin rescued the bank in a €21bn taxpayer bailout that began in early 2009.

  10. Ineos plans £1.8bn investment

    Private energy giant Ineos has announced plans to build a new European petrochemical production plant and boost capacity at plants in Scotland and Norway at a cost of about €2bn (£1.8bn).

    The plans include a new propylene production unit, with sites in Belgium among locations being considered.

    It also plans to increase the ethylene capacity of its crackers at Grangemouth in Scotland and Rafnes in Norway.

    Both rely on fracked shale gas being shipped across to Europe from the US.

    Ethylene and propylene are key building blocks in the manufacture of plastics.

  11. Borough Market to reopen

    Floral tributes at Borough Market

    Borough Market, the scene of the London terror attack earlier this month is to reopen on Wednesday.

    Donald Hyslop, chair of the Trustees of Borough Market, wrote: "Starting on Wednesday, every person who comes here will be making a difference.

    "At 10am, we will link arms, pause for a moment of silent reflection, then ring the market bell loud and clear. And from that moment onwards we will need you more than ever."

    Eight people were killed on 3 June when three attackers drove a van into pedestrians on London Bridge and launched a knife attack in nearby Borough Market. The attackers were shot dead by officers.

  12. US stock indexes still lower

    Wall Street sign with several US flags behind

    The three key US stock indexes are still down afternoon trade.

    The tech-heavy Nasdaq has lost the most ground - it's at 6,156.74, a fall of 51 points or 0.82%, as tech stocks continue to take a battering (see earlier posts).

    The Dow Jones is down 71 points or 0.33% at 21,200.78. Microsoft is 1.12% lower.

    And the S&P 500 is at 2,423.38, down 8 points or 0.35%.

  13. 'Sin tax' doubles price of Saudi cigarettes

    BBC World Service

    Man smoking in Saudi Arabia

    Saudi smokers are have seen the price of a pack of cigarettes double as the first tax measures are introduced in the Kingdom, reports BBC World Service. It's been described as the "sin tax", which applies not just to cigarettes but to fizzy drinks as well.

    The tax is part of a wide-ranging plan, not just in Saudi Arabia but across Gulf states, to find ways to make up for a sharp drop in oil revenues.

    For decades, Saudis have benefited from a tax-free system, helped, too, by big subsidies from the government. Local Saudi media is reporting that a number of businesses are being accused of hoarding ahead of the tax in order to make big profits when the prices doubled.

  14. Qatar ships cargo via Oman

    Containers being moved by crane

    Qatar says it has begun shipping cargo through Oman to bypass restrictions imposed by other Gulf states.

    Qatar Ports Management Company said direct services to Sohar and Salalah in Oman would operate three times a week.

    Cargo for Qatar is usually shipped to ports in the United Arab Emirates and then loaded onto smaller vessels.

    But last week the UAE, Saudi Arabia, Bahrain and Egypt severed economic and diplomatic ties with Qatar, alleging it supported terrorist groups and Iran.

    Qatar has denied the charges and said the restrictions violate international law. Read more here

  15. Watch: Brexit wish-list

    Video content

    Video caption: What business wants from Brexit

    What do businesses want from Brexit? Here are the views of the bosses of two leading British brands.

  16. Uber: is another executive heading for the exit?

    Travis Kalanick

    The Uber rumour mill is back in top gear today, with plenty of media speculation that executive Emil Michael is to leave the tarnished taxi-hailing company.

    Uber's board met on Sunday to consider recommendations from an investigation into sexual harassment and related issues led by the law firm of former US Attorney General Eric Holder.

    Bloomberg and Reuters were among news agencies reporting that Michael, a close ally of Uber founder Travis Kalanick (above) will go.

    There's even speculation that Kalanick himself is about to announce that he will be taking a leave of absence.

  17. McDonald's to snap up 250,000 jobs

    McDonald's sign

    McDonald's says it will hire about 250,000 staff this summer to cater for the annual upsurge in burger buying during the season. And, with half the recruits expected to be aged between 16-24, the firm will use Snapchat as part of the application process. McDonald's has even coined a term: 'Snaplication' is about to enter the lexicon of the recruitment industry.

  18. FTSE 100 edges lower

    It was a pretty uneventful day on the FTSE 100. Apart from a brief spike into positive territory in the early afternoon, the index remained just in the red from the start of trading.

    The index ended down 0.2% at 7,511.9 points, led by Johnson Matthey, up 2%. Miners were among the main losers, with Fresnillo down 4.8%.

    The FTSE 250 closed 0.44% lower at 19,682.7.

  19. German grocers battle it out Stateside

    Chris Johnston

    Business reporter, BBC News

    An Aldi store in Alexandria, Virginia
    Image caption: An Aldi store in Alexandria, Virginia

    The battle of the German grocers is about to erupt on a new front. Lidl is preparing to open its first US stores this week, which has prompted rival Aldi to announce a big expansion plan across the pond.

    Aldi already has 1,600 stores in the US but wants to boost that number to 2,500 by 2022, which would make it the third-largest grocery chain.

    "We're growing at a time when other retailers are struggling," says Aldi boss Jason Hart.

    The chain also plans to revamp 1,300 existing stores at a cost of $1.6bn over the next three years.

  20. A long game

    xbox logo

    The US Supreme Court has ruled in favor of Microsoft in its bid to fend off class action claims by Xbox 360 owners who said the videogame console gouges discs because of a design defect.

    The court, in a 8-0 ruling, overturned a 2015 decision by a Circuit Court of Appeals that allowed console owners to appeal the dismissal of their class action lawsuit by a federal judge in Seattle in 2012.

    The Xbox console owners filed a proposed class action against Microsoft in a federal court in 2011.

    The Supreme Court said plaintiffs will have to litigate their claims individually.