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Summary

  1. Get in touch at bizlivepage@bbc.co.uk
  2. US President scraps two business committees
  3. Bosses of Campbell Soup and 3M resigned from manufacturing group
  4. They were followed by the heads of Johnson & Johnson and United Technologies
  5. US stock markets trim gains
  6. UK unemployment rate falls to 4.4% in July

Live Reporting

By Dearbail Jordan

All times stated are UK

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  1. A short-lived idea

    Indra Nooyi, Stephen Schwarzman, Donald Trump and Mary Barra
    Image caption: (L-R) Indra Nooyi, Stephen Schwarzman, Donald Trump and Mary Barra

    Members of the US President's strategic and policy forum,which had 17 members and held its first meeting in February, included:

    JP Morgan Chase chairman and chief executive Jamie Dimon

    Walmart chief executive Doug McMillon who said on Monday that Donald Trump had missed a chance to unify the US but said he would stay on the council.

    General Motors chairman and chief executive Mary Barra

    PepsiCo chairman and chief executive Indra Nooyi

    IBM chairman, president, and chief executive Ginni Rometty

  2. Campbell Soup chief changes tune

    Denise Morrison

    The statement from Denise Morrison represents a change in tone for the Campbell Soup boss.

    On Monday, the company put out the following statement: "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.

    "Campbell has long held the belief that diversity and inclusion are critical to the success of our business and our culture. Our commitment to diversity and inclusion is unwavering, and we will remain active champions for these efforts."

    "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."

  3. BreakingCampbell Soup: Racism and murder are not morally equivalent

    In a statement, Campbell Soup boss Denise Morrison, said: "Racism and murder are unequivocally reprehensible and are not morally equivalent to anything else that happened in Charlottesville.

    "I believe the President should have been – and still needs to be – unambiguous on that point.

    "Following yesterday’s remarks from the President, I cannot remain on the Manufacturing Jobs Initiative. I will continue to support all efforts to spur economic growth and advocate for the values that have always made America great."

  4. BreakingCampbell boss resigns from Trump council

    Campbell Soup cans

    Denise Morrison, president and chief executive of Campbell Soup Company, has resigned from the US President’s Manufacturing Jobs Initiative.

  5. Trump strategy and policy council 'disbanding'

    Bloomberg is reporting that the US President's strategy and policy council is being "disbanded".

    Business Live understands that this is a different group than the Manufacturing Advisory Council.

    The strategy and policy council is chaired by Stephen Schwarzman, chairman, chief executive and co-founder of private equity giant Blackstone.

    More to follow...

  6. Trump manufacturing council - the tally so far

    Donald Trump and Ken Frazier
    Image caption: Merck boss Ken Frazier, seen here with Donald Trump, was the first to resign from the council

    3M chief Inge Thulin is the sixth person to leave Donald Trump's manufacturing advisory council since Monday.

    On Monday, Ken Frazier, the chairman and chief executive of drugs giant Merck, said he was stepping down following the US President's tepid first response to the violence in Charlottesville.

    He was followed by Brian Krzanich, boss chip giant Intel and Kevin Plank, the founder and chairman of sportswear group Under Armour.

    Scott Paul, president of the Alliance for American Manufacturing, then announced he was leaving and on Tuesday evening - following Mr Trump's inflammatory comments blaming "both sides" for the violence at the weekend - Richard Trumka, president of the American Federation of Labor and Congress of Industrial Organizations, resigned.

  7. Breaking3M boss resigns from Trump council

    The boss of 3M, the company which makes Post-it notes, has resigned from Donald Trump's Manufacturing Advisory Council.

    Inge Thulin, chairman and chief executive of 3M said: "I joined the Manufacturing Jobs Initiative in January to advocate for policies that align with our values and encourage even stronger investment and job growth – in order to make the United States stronger, healthier and more prosperous for all people.

    "After careful consideration, I believe the initiative is no longer an effective vehicle for 3M to advance these goals. As a result, today I am resigning from the Manufacturing Advisory Council."

    He adds: "At 3M, we will continue to champion an environment that supports sustainability, diversity and inclusion. I am committed to building a company that improves lives in every corner of the world."

  8. Ireland refuses to collect Apple tax

    Man walks below Apple logo

    Ireland is refusing a demand from the European Commission that it retroactively collect 13bn euros in taxes from Apple.

    Finance minister Paschal Donohoe told German newspaper Frankfurter Allgemeine: "We are not the global tax collector for everybody else."

    He said the tax rules from which Apple benefited had been available to all and not tailored for the US company, and added that they did not violate European or Irish law.

  9. US: NAFTA has failed countless Americans

    Robert Lighthizer

    US trade representative Robert Lighthizer says that NAFTA has "failed" countless Americans.

    In opening remarks ahead of Wednesday's talks with Mexico and Canada, Mr Lighthizer said: "We cannot ignore the huge trade deficits, the lost manufacturing jobs, the businesses that have closed or moved because of incentives - intended or not - in the current agreement."

    He said that President Donald Trump "is not interested in a mere tweaking of a few provisions and a couple of updated chapters".

    He says: "We feel that NAFTA has fundamentally failed many, many Americans and needs major improvement."

  10. London markets close higher

    The FTSE 100 closed 52.81 points higher at 7,436.66.

    Commodities giant Glencore was the day's biggest riser after its share price jump by 4.23% to 345.25p. Insurer Admiral was the largest faller, down 5.74% at £20.53.

    The FTSE 250 finished up 159.44 points at 19,854.25.

  11. Behind the screens

    Two actors from ITV show Downton Abbey

    ITV is planning a "mini-theme park" in London featuring some of its hit programmes such as Downton Abbey, Victoria, and Broadchurch, according to today's Evening Standard.

    The company is on the look out for a property where visitors would be treated to "immersive cinematic presentations" as well as being shown sets, costumes and artefacts from the programmes.

    It's a tried and tested formula with ITV's Emmerdale Studio Experience in Leeds and Warner Bros Harry Potter Studio Tour just north of London already long-running successes.

    Apparently what ITV is looking for is a site of up to 20,000 sq ft which is just around half a football pitch. Since they're planning to squeeze in a 100 seat auditorium and presumably a gift shop, you have to ask just how much space will be left for the crinolines and bonnets.

  12. Amazon to create 1,000 jobs

    Amazon warehouse

    Online retail giant Amazon is to open a new warehouse near Bristol in 2018 which it says will create 1,000 jobs.

    Amazon's Stefano Perago said: "Bristol offers fantastic infrastructure and talented local people who we look forward to joining the Amazon team."

    The new warehouse will open at Severn Beach adding to its 13 sites in the UK.

    Read the full story here.

  13. Oil price gains diminish

    Oil storage

    Oil prices have trimmed gains following data which showed that US commercial crude inventories fell in the past week.

    Brent crude is up 0.5% at $51.03 a barrel and West Texas Intermediate is off 0.2% at $47.63 a barrel.

  14. Mexico: We must not tear NAFTA apart

    Mexico's economy minister Ildefonso Guajardo

    Ildefonso Guajardo, Mexico's economy minister, says that the key to successful talks over NAFTA is "not tearing apart what has worked" but instead finding a way to make the agreement better.

    Representatives from the US, Mexico and Canada began discussions in Washington on Wednesday to update the 1994 trade deal.

    Need a refresher on NAFTA? Read the BBC guide here.

  15. BreakingUS oil stocks slide

    The Energy Information Administration reports that US commercial oil inventories fell by 8.9 million barrels for the week ended 11 August.

    At 466.5 million barrels, US crude oil inventories are in the upper half of the average range for this time of year