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  2. Ryanair cuts fees for checked baggage
  3. Barratt profits jump
  4. Bell Pottinger up for sale
  5. Sports Direct chairman under pressure

Live Reporting

By Tom Espiner

All times stated are UK

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  1. Hold - Good night

    That's all from the Business Live page. Please join us again tomorrow from 06:00.

  2. Wall Street closes higher

    Wall Street closed higher, helped by news of an agreement to extend the debt limit, as stocks bounced back modestly from Tuesday's sell-off.

    US stocks added to moderate gains as President Donald Trump, siding with Democrats over his fellow Republicans, said he agreed to pass an extension of the US debt limit until 15 December, potentially avoiding an unprecedented default on US government debt.

    The Dow Jones Industrial Average rose 54.33 points, or 0.25%, to 21,807.64. The S&P 500 gained 7.69 points, or 0.31%, to 2,465.54 and the Nasdaq Composite added 17.74 points, or 0.28%, to 6,393.31.

  3. 'Models will always be tall, thin, and very young'


    A number of major French-owned fashion labels - including Christian Dior and Yves Saint Laurent - have pledged to ban ultra-thin models from their advertising and catwalk shows.

    But Julia Robson, former fashion editor at the Daily Telegraph, told the BBC that there would always be a market for models with a particular body type.

    "Mannequins have always been very tall and very thin because aesthetically that's what makes the clothes look very beautiful and almost otherworldly," she said.

    "And what we've seen with globalisation and digitalisation is it's brought fashion to a lot more people.

    "However, I think it's quite tricky to sort of merge it all together and suddenly have, sort of, larger models on the catwalk.

    "I really can't see in my lifetime there'll be a time when models are anything but tall, thin and very young."

  4. EU 'plans rule change to increase taxes on online giants'

    European Union finance ministers are set to discuss rule changes next week aimed at increasing taxes on digital multinationals such as Google and Amazon, Reuters reports.

    The Estonian EU presidency wants to reform international tax rules so that digital multinationals could be taxed where they create value, and not only in countries where they have established their tax residence.

  5. Banks 'dragging heels on Brexit licences'

    London's Canary Wharf financial district

    Fewer than 10 of the approximately 40 banks that conduct EU business out of London have applied so far for a licence to continue banking in the bloc after Britain leaves, regulatory sources have told the Reuters news agency.

    "We're having lots of meetings, but not enough concrete action," one supervisor said.

    While Britain does not leave the EU until March 2019, bank executives have said time is already running out: it could take 18 months or more to set up a new subsidiary, given the need to relocate staff, get the requisite technology and change contractual arrangements with EU clients.

  6. US seeks North Korea oil embargo

    The US has asked the UN Security Council to put an oil embargo on North Korea and freeze the assets of its leader Kim Jong-Un, in response to North Korea's latest nuclear test. It also sought a travel ban on Mr Kim.

    In addition, the resolution called for a ban on textile exports and an end to payments made to North Korean laborers sent abroad.

  7. Xi: North Korea issue must be solved by talks

    Chinese President Xi Jinping

    China is focused on solving the Korean Peninsula nuclear issue through talks and peaceful means, Chinese President Xi Jinping has told US President Donald Trump in a telephone call.

    The US and South Korea have asked the UN to consider tough new sanctions on North Korea after its nuclear test on Sunday that Pyongyang said was an advanced hydrogen bomb.

  8. US House approves lower safety standards for some self driving cars

    A self-driving car traverses a parking lot at Google's headquarters in Mountain View, California

    The US House of Representatives has approved a sweeping proposal to accelerate the deployment of self-driving cars without human controls and bar states from blocking autonomous vehicles.

    The bill now goes to the Senate and would allow automakers to obtain exemptions to deploy up to 25,000 vehicles without meeting existing car safety standards in the first year, a cap that would rise to 100,000 vehicles annually over three years.

    Car makers and technology companies including General Motors and Alphabet's self-driving unit Waymo have been pushing for new federal rules making it easier to deploy self-driving technology.

  9. Cohn 'would do a great job as US Fed chair'

    White House economic advisor Gary Cohn walks to the White House

    Goldman Sachs chief executive Lloyd Blankfein said that his former colleague Gary Cohn would do a "great job" if he were to replace Janet Yellen as chair of the US Federal Reserve.

    "Gary is very, very capable," Mr Blankfein said.

    "He's not an academic, but I'll tell you there is no one that has a better sense of markets."

    Mr Cohn, a former Goldman Sachs president who is now a White House economic advisor, has been cited as a leading candidate to run the Federal Reserve over the coming years.

  10. US Harvey deal includes debt ceiling extension

    US Capitol building

    US President Donald Trump and congressional leaders have agreed to pass an extension of the debt limit until 15 December, as well as a government funding bill covering the same period and disaster aid for Hurricane Harvey victims, Democratic Senate leader Chuck Schumer and House leader Nancy Pelosi said.

    The debt ceiling is a cap on the total amount the US government can borrow, set by US lawmakers.

    "Both sides have every intention of avoiding default in December and look forward to working together on the many issues before us," Mr Schumer and Ms Pelosi said.

    "As Democratic leaders, we also made it clear that we strongly believe the Dream Act must come to the floor and pass as soon as possible and we will not rest until we get this done."

  11. Trivago warns of weaker revenue growth


    Hotel search firm Trivago has warned investors of weaker-than-expected revenue growth in 2017, due to lower spending from hotels and other travel companies.

    The firm said its revenue would grow 40% year-on-year, down from the 50% it predicted previously.

    Trivago said it had not been able to adjust its own spending in line with reduced revenue, hurting profits.

    The firm's share price plunged more than 21% in morning trade.

    Read more here.

  12. Labour Leave campaigner says Brexit immigration ideas 'quite sensible'

    Labour MP Kate Hoey, who was a prominent leave campaigner during last year's referendum, says some of the ideas in a leaked Home Office document are "actually quite sensible".

    "We should be encouraging employers to employ more people from this country," she says.

    It's worth pointing out here that the UK unemployment rate fell to a 42-year low in August of 4.4% - there's not much slack in the UK labour market, and employers are finding it difficult to recruit staff.

  13. Government asks FTSE chiefs for unconditional Brexit support

    Simon Jack

    BBC Business Editor

    Downing Street has approached some of Britain's biggest companies asking them to give public support for the government's approach to Brexit.

    The letter - which number 10 is hoping top business leaders will sign - says that while some backed leave and others Remain, they acknowledge Brexit is happening and now is the right time for employers to work with government to make it a success.

    It says the signatories welcome the government's commitment to negotiating an interim period after the formal exit date and would bring their expertise in international trade to bear on the government efforts to create future relationships outside the EU.

    Several potential signatories contacted by the BBC said while they supported the idea of bringing government and business closer together, they expressed reluctance to give unconditional support for a government negotiating strategy which they felt lacked clarity.

    News of the letter came on the same day many business groups expressed grave concerns over leaked draft government proposals to clamp down on UK companies ability to recruit workers from the EU.

    As one FTSE Chairman put it, its dangerous to ask a question when you are not sure what the answer will be.

    Number 10 declined even to comment on the existence of the letter this evening.

  14. Canadian dollar soars after central bank raises rates

    Canadian and US dollars

    The Canadian dollar hit its highest level against the US dollar in two years after the Bank of Canada surprised many by raising rates.

    The greenback was modestly lower against a basket of major rivals.

    The Bank of Canada raised interest rates by 25 basis points to 1% after a hike in July, putting Canada ahead of the curve in upping borrowing costs after they were slashed due to the 2007-2009 financial crisis.

  15. Asda: 300 head office jobs to go

    Asda has said 300 head office jobs are to be axed.

    An Asda spokesperson said: "In recent years, the competitive landscape in retail has changed significantly and Asda has been no different. Our stores have adapted the way they operate to meet the changing needs of our customers, and our home offices must also adapt how they operate to support our stores.

    "Today we are making some significant changes to the way we operate our home offices. As you’d expect, we have discussed the details of these changes with our colleagues first.

    "These changes impact around 1,100 roles across Asda House in Leeds and George House in Leicester, and sadly result in around 300 colleagues leaving us.

    "At Asda we value each and every one of our colleagues. The changes are in response to the ever changing sector in which we’re working and the need to adapt to create an agile business which is fit for the future."

  16. FTSE dips as Korea tensions simmer

    The FTSE 100 share has closed down 0.25% at 7,354.13 as geopolitical tensions simmer in the Korean peninsula.

    "Stock markets were rattled by suggestions that an intercontinental ballistic missile had been moved to the west coast of North Korea and that the leadership might conduct a weapon test around 9 September, when the country celebrates its founding day," Credit Suisse said in a note.

    Wall Street stocks have edged higher, but gains are being capped by North Korea worries and a potential US landfall of Hurricane Irma.