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Summary

  1. AA fires chairman for 'gross misconduct'
  2. Sterling rises to 11-month high on the dollar
  3. Centrica raises electricity prices by 12%
  4. Rolls Royce shares soar 10% on results
  5. Bank of England staff go on strike

Live Reporting

All times stated are UK

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  1. Good night

    Test card F

    Thank you for joining Business Live.

    We looking forward to you logging back on with us on Wednesday for all the breaking business and economics news.

  2. Look ahead to Apple

    Apple iPhone Plus

    Analysts are expecting Apple to report third quarter revenue of around $44.89, up from $42.35bn last year.

    The iPhone maker said earlier this year that quarterly sales would be between $43.5bn and $45.5bn.

  3. Dow Jones closes at record high

    The Dow Jones Industrial Average missed hitting 22,000 but it closed up 75.70 points at a record high of 21,966.82

    The S&P 500 finished 5.94 points higher at 2,476.24.

    The Nasdaq ended 14.81 points ahead at 6,362.94.

  4. Watch: the drones that see through walls

    Video content

    Video caption: Drones use wi-fi for 3D mapping to see through walls
  5. Dixons Carphone boss calls for clarity on EU workers

    The boss of Dixons Carphone has urged the Government to provide clarity on the rights of EU workers.

    In an interview with Reuters, chief executive Seb James, said: "It's not fair on people to not give them some kind of clarity as quickly as possible.

    "We need to get that sorted, and we need to get it sorted now," he said.

    Dixons Carphone employs 26,000 people in the UK, of which 4,000 are from the EU.

  6. Oil prices fall further

    Oil prices extended their losses on Tuesday evening.

    Brent crude is down 2.2% at $51.55 a barrel while West Texas Intermediate is off 2.5% $48.93.

  7. Dow Jones near new record

    Apple logo

    It's so close...the Dow Jones Industrial Average is trading 83.93 points ahead at 21,975.05.

    Apple's quarterly results will be released later and technology has been a strongly performing sector this year in the US.

    Bill Northey, chief investment officer at US Bank Wealth Management, said: "While valuations overall and for the tech sector isn't cheap, some of the most powerful earnings growth has come from large-cap technology names."

  8. EU drugs regulator prepares for Brexit

    Tablets

    The European drugs regulator says it is cutting back on lower priority work in the run up to Brexit as it moves from London to inside the EU.

    The European Medicines Agency says a new web portal and an electronic submission project for drugs will be suspended.

    Noel Wathion, head of the Brexit taskforce at the EMA, said: "Preparing for the move, managing the necessary changes, and addressing challenges such as possible losses in skilled and experienced staff, in a proactive and efficient way requires considerable internal resources.

    "With the business continuity plan we aim to ensure that the assessment of medicines is not disrupted and that patients in Europe continue to have access to high quality, safe and effective medicines."

  9. AA chairman sacking is 'bizarre and unforeseeable'

    AA recovery vehicle

    Ned Hammond, an analyst at Berenberg Bank, says Bob Mackenzie's departure as executive chairman of the AA is a big surprise.

    "He was the key man behind the current restructuring strategy and played a major role in IPOing the business in the first place. Obviously the circumstance of his departure is particularly bizarre and unforeseeable," he says.

    He adds that the departure "has created some concern and a lot of uncertainty."

  10. Energy price rises - do online accounts hinder customer choices?

    In the light of the British Gas rise in electricity prices, Claer Barrett, the personal finance editor at the Financial Times, told BBC News that the spread of online accounts was one reason why people were finding it hard to keep track of their gas bills, and thus to decide if switching supplier was a good idea.

    "Who opens the email that they get through saying that their electricity or gas bill for that quarter has arrived? No one," she said.

    "It's the easiest thing in the world to ignore yet unless you open it, enter your password and your username and all of these other details that you might not have to hand, you won't realise that you rolled off that great rate that you locked into for 12 months and that your bill has gone up by 20% without you realising."

  11. EasyJet passengers stranded 'to protect turtles'

    Turtle
    Image caption: A turtle yesterday

    EasyJet passengers were left stranded for two days on a Greek island after a relief flight was cancelled to protect a threatened turtle population.

    The flight from Zante to London Gatwick was cancelled on Sunday over technical issues, which continued through Monday.

    The airline apologised but blamed the relief plane not reaching the airport on the island's night flight curfew.

    Read more here.

  12. Kelly appointment lifts US tax reform hopes

    John Kelly

    Optimism at John Kelly's appointment as Donald Trump's new chief of staff may have helped investor sentiment.

    Briefing.com analyst Patrick O'Hare said: "More than a few talking heads we heard also suggested that Mr. Kelly's leadership style raises the chances of getting a tax reform deal done.

    "That may be giving a little more credit than is due at the moment since Mr. Kelly doesn't run the House or the Senate, but we shall see."

  13. Dow Jones in striking distance of 22,000

    Will the Dow Jones Industrial Average breach 22,000?

    It is pretty close - at the time of writing it is up 91.47 points at 21,982.59.

    Apple is reporting its quarterly results after the bell so if smashing the 22,000 mark doesn't happen this evening, it could be Wednesday's big event.

    Stay tuned.

  14. Dark web markets boom after busts

    TradeRoute

    Trade on several of the dark web's illegal markets has boomed since two major players were shut by the authorities last month, according to research carried out for the BBC.

    The US and Dutch authorities forced AlphaBay and Hansa offline to prevent the sale of drugs, weapons and malware.

    But over the last week of July, other sites saw their number of listings rise by as much as 28%, the study indicates.

    Read the full story here.

  15. FTSE indexes finish up

    Rolls-Royce

    The FTSE 100 closed 52.20 points higher at 7,424.20.

    Rolls-Royce enjoyed a stellar day after its share price gained 10.25% to 979p. It reported strong interim results on rising engine orders.

    Silver miner Fresnillo saw its share price tumble 2.5% to £14.97 despite reporting a rise in profit for the first six months of the year.

    The FTSE 250 finished 82.46 points ahead at 19,863.60.

  16. Oil prices fall

    Oil prices are down on Tuesday.

    Brent crude is 1% down at $52.20 a barrel while West Texas Intermediate is also off 1% at $49.69.

    Figures are expected to show that US crude inventories fell by 2.9 million last week. However, production from Opec naions rose in July.