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Live Reporting

Dearbail Jordan

All times stated are UK

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  1. Good night

    Test card F

    Thank you for following Business Live today.

    Tuesday promises to be interesting with inflation figures due out in the morning.

    Business Live will be back from 6.00am sharp - we look forward to you joining us then.

  2. US stock markets close up

    The Dow Jones Industrial Average has closed 130.33 points ahead at 21,988.65.

    The S&P 500 finished 24.14 points up at 2,465.4.

    The Nasdaq ended 83.68 points up at 6,340.23.

  3. US industrial 'assessing role' on Trump council

    AFL-CIO President Richard Trumka

    The American Federation of Labor and Congress of Industrial Organisations (AFL-CIO) says that it is assessing its role on Donald Trump's manufacturing committee.

    Its president Richard Trumka said: "The AFL-CIO has unequivocally denounced the actions of bigoted domestic terrorists in Charlottesville and called on the President to do the same.

    "We are aware of the decisions by other members of the President’s Manufacturing Council, which has yet to hold any real meeting, and are assessing our role.

    "While the AFL-CIO will remain a powerful voice for the freedoms of working people, there are real questions into the effectiveness of this council to deliver real policy that lifts working families.”

  4. New York bank chief sees further rate rise in 2017

    The president of the New York Federal Reserve Bank says there could be another interest rate rise in 2017.

    William Dudley told Associated Press: "I would expect - I would be in favor of doing another rate hike later this year."

    Commenting on expectations that the US Federal Reserve would begin reducing its massive bond holdings in September, he said: "I don't think the expectations of market participants are unreasonable."

    Minutes from the most recent Federal Open Market Committee rate-setting meeting will be released on Wednesday.

  5. Campbell boss to stay on Trump committee

    Denise Morrison

    Denise Morrison, president and chief executive of Campbell Soup Company, is staying on the US President's manufacturing committee.

    This follows a decision by Ken Frazier, head of drugs giant Merck, to resign in response to violence by white supremacists at the weekend in Charlottesville and Donald Trump's immediate response to the attacks which claimed the life of protester Heather Heyer.

    Campbell Soup said: "The reprehensible scenes of bigotry and hatred on display in Charlottesville over the weekend have no place in our society. Not simply because of the violence, but because the racist ideology at the center of the protests is wrong and must be condemned in no uncertain terms.

    "We believe it continues to be important for Campbell to have a voice and provide input on matters that will affect our industry, our company and our employees in support of growth. Therefore, Ms. Morrison will remain on the President’s Manufacturing Jobs Initiative."

  6. Uber investor Benchmark explains Kalanick lawsuit

    Travis Kalanick

    Benchmark Capital has given some insight into its decision to file a lawsuit to force Uber's former chief executive and co-founder Travis Kalanick off the board of the company entirely.

    In a letter to Uber employees, Benchmark said: "We know that many of you are asking why Benchmark filed a lawsuit against Travis last week. Perhaps the better question is why we didn’t act sooner."

    It said that it had given Mr Kalanick a month to fulfill certain agreements.

    "We were asked to postpone any filing and assured that efforts would be made to get these changes made without a lawsuit. We waited and waited, watching as things deteriorated even further. Eventually we felt that we could wait no longer and took action."

    Read the full letter here.

  7. Counting the cost of train tickets

    Train tickets

    On Tuesday, rail passengers will find out how much more tickets will cost in the New Year when the Office for National Statistics releases the Retail Price Index measure of inflation for July - which sets the increase for the following year.

    The forecast is for RPI growth of 3.5% last month.

    A spokesperson for the Department of Transport says: “The government carefully monitors how rail fares and average earnings change, and keeps under review the way fare levels are calculated."

    It adds: “Regulated rail fares are capped in line with inflation for next year. In the five years to 2019, Network Rail is spending more than £40 billion to maintain and improve the network. On average, 97% of every £1 of a passenger's fare goes back into the railway."

  8. Google cancels neo-Nazi website's registration

    Heather Heyer was killed on Saturday

    Google says that it is cancelling the Daily Stormer's registration for violating the company's terms of service.

    The Daily Stormer, which is a white supremacist and neo-Nazi website, published a derogatory story about Heather Heyer, a protester who was killed in an attack in Charlottesville, Virginia at the weekend.

    The website's original domain name provider Go Daddy gave it 24 hours to move following its disparaging article about Ms Heyer.

    Now Google has acted - read the full story here.

  9. Dow Chemicals boss to remain on White House committee

    Donald Trump (L) and Dow Chemicals boss Andrew Liveris (R)
    Image caption: Donald Trump (L) and Dow Chemicals boss Andrew Liveris (R)

    Like GE's Jeff Immelt, Andrew Liveris, the chairman and chief executive of Dow Chemicals, condemns the violence in Charlottesville and will remain on Donald Trump's manufacturing committee.

    He says: "I condemn the violence this weekend in Charlottesville, Virginia, and my thoughts and prayers are with those who lost loved ones and with the people of Virginia.

    "In Dow there is no room for hatred, racism, or bigotry. Dow will continue to work to strengthen the social and economic fabric of the communities where it operates – including supporting policies that help create employment opportunities in manufacturing and rebuild the American workforce."

  10. GE chairman to stay on Trump council

    Jeff Immelt

    General Electric's chairman Jeff Immelt will not be following the example set by Merck's Ken Frazier and will stay on the Presidential Committee on American Manufacturing

    The US company said: "GE has no tolerance for hate, bigotry or racism, and we strongly condemn the violent extremism in Charlottesville over the weekend.

    "GE is a proudly inclusive company with employees who represent all religions, nationalities, sexual orientations and races.

    "With more than 100,000 employees in the United States, it is important for GE to participate in the discussion on how to drive growth and productivity in the US, therefore, Jeff Immelt will remain on the Presidential Committee on American Manufacturing while he is the Chairman of GE."

  11. Financial stocks lead Dow higher

    Financial stocks seem to be having the best of it on the Dow Jones index right now. Credit card companies Visa and American Express are among the top five gainers, rising 1.9% and 1.5% respectively, while Goldman Sachs is the best-performing bank, up 1.85%.

    Overall, the Dow is trading above the 22,000 mark, with a gain of 0.65% on the day. The market in general is buoyant across all sectors, as tensions wane between the US and North Korea.

  12. Snapping back?

    Snapchat logo

    It's been a roller-coaster ride on the US markets so far this session for social media firm Snap.

    The owner of Snapchat has seen its share price decline steadily ever since it started trading on the stock market in March.

    Last week, its problems were exacerbated when it reported more than $400m (£310m) in quarterly losses and fewer than expected users.

    Shortly after the start of Monday's trading, the stock fell a further 4.7% to a record low of $11.28. But it later recovered to become one of the day's biggest risers, up 6.4% to $12.59.

    Trading in Snap was boosted by the company's employees, who became eligible on Monday to sell their shares for the first time. That increased the supply, but also the volatility of the stock.

    Despite the recovery, it's still a long way off the share price at the time of its initial public offering, which was $17.

  13. Former McDonald's chief blasts Trump tweet

    Donald Trump

    The former boss of McDonald's called Donald Trump's response to Ken Frazier's decision to resign from the US President's manufacturing council "despicable".

    Ed Rensi told CNBC that Mr Frazier's decision to leave the advisory role was the right move.

    "Our job as CEOs is to return great value to the shareholders and stakeholders of our companies, but that involves social conscience," Mr Rensi said. "We got to do the right thing for the right reasons."

    In response to Mr Frazier's announcement. Mr Trump tweeted earlier: "Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES!"

  14. More pain for train passengers

    Train passengers

    This is an important week for economic news.

    On Wednesday, the Office for National Statistics (ONS) will release the latest employment figures and on Thursday, we'll find out how much people are spending with new retail sales figures.

    Before all that though, rail passengers will find out how much more they will have to spend on travel in the New Year when the ONS unveils the Retail Price Index measure of inflation.

    The July figure dictates how ticket prices will rise the following year - forecasters predict RPI reached 3.5% last month.

  15. NHS cyber hero pleads not guilty

    Marcus Hutchins

    A British cyber-security researcher has pleaded "not guilty" to charges of creating and selling malware that snooped on victims' banking logins.

    Marcus Hutchins, 23, appeared in court in Milwaukee, Wisconsin.

    A trial has now been scheduled for October.

    He shot to fame after helping to stall the WannaCry ransomware cyber-attack that struck the NHS and affected many other organisations around the world in May.

    Read the full story here.