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  1. Get in touch:
  2. Sterling falls back below $1.32, steady at 1.10 euros
  3. FTSE 100 ends higher
  4. Primark owner ABF leads FTSE fallers
  5. Diamond seizure hits Petra shares

Live Reporting

By Chris Johnston

All times stated are UK

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  1. Good night

    That's it from the Business Live page, thanks for reading. We'll be back tomorrow bright and early tomorrow at 0600.

  2. Wall Street gains as fears recede

    New York stock trader

    The main US stock indexes all finished more than 1% higher as tropical storm Irma caused less damage than expected in Florida and North Korea did not test-fire missiles over the weekend.

    The S&P 500 rose 27 points to close at a new record high of 2,488.11. The Nasdaq gained 72 points to 6,432 and the Dow Jones rose 260 points to 22,057.

    Although Irma has wreaked chaos in Florida, it has lost some of its power since sweeping through the Caribbean.

    Some analysts had also feared North Korea would carry out more missile tests to mark its founding day on Saturday.

  3. EY and Deloitte monitor Irma fallout

    Tortola devastation after Hurricane Irma

    We heard earlier that the British Virgin Islands' financial sector is already open for business after the devastation of Hurricane Irma.

    One of the islands, Tortola, is a major hub for British accountancy firms, and was hit hard by the tropical storm (pictured).

    EY and Deloitte, two of the UK's Big 4 accountants, told the BBC they'd been monitoring the impact closely. They both said their staff were accounted for and safe.

  4. Busy week for the pound

    Pound coins

    The pound broke above $1.32 to a near-month high against the dollar earlier today, before slipping back again.

    And analysts are predicting further gyrations for sterling this week.

    The key events they're picking out are tonight's first-round vote in parliament on the EU repeal bill; tomorrow's inflation figures; Wednesday's unemployment data; and Thursday's vote from the Bank of England on interest rates.

  5. Car-ing and sharing

    Traffic jam

    A boom in car-sharing could cut the number of vehicles on European roads by 80 million by 2030, a study by PwC predicts.

    However, roads could become busier even as Europe's fleet of cars falls to 200 million, the consultancy forecasts, as shared vehicles will be used much more frequently than privately owned ones.

    "Within a few years, the present norm under which most people drive their own car will be just one mobility concept among many," says PwC's Christoph Stuermer.

    That's not necessarily bad news for car makers, however. Shared vehicles clock up about 58,000 kilometres a year, compared with 13,200km for a private car. That means they will have to be replaced more often, roughly every four years.

  6. Equifax hack prompts lawsuits

    More than two dozen lawsuits have been filed in the United States against Equifax after the credit reporting company said hackers may have stolen personal information for 143 million Americans in one of the largest data breaches.

    At least 24 federal lawsuits had been filed by Sunday in connection with the breach, which Equifax had publicly revealed three days earlier, and more were filed on Monday, court records show. Most are likely to be combined into a single piece of nationwide litigation.

    Equifax said it learned of the hacking on 29 July 29 and has set up procedures it said are intended to help people protect their Social Security numbers and other identifying information.

  7. Tata steel deal nears


    Thyssenkrupp may reach an agreement in principle this month to merge its European steel business with that of Tata Steel as "constructive" talks enter the final stretch.

    A spokeswoman for Thyssenkrupp said the companies were close to a memorandum of understanding, which would allow more detailed negotiations before creating Europe's second-largest steelmaker.

    She said a meeting of the firm's supervisory board scheduled for Tuesday 12 had been postponed, with Thyssenkrupp's works council saying it would be held on 23 or 24 September.

  8. Virgin Islands 'open for business'

    BBC World Service

    British Virgin Islands

    More on the aftermath of Irma: the British Virgin Islands' financial services sector is already open for business as the UK territory recovers from the devastation caused by the hurricane.

    Benito Wheatley, the director of the BVI in London, tells World Business Report that financial aid will be needed to help the economy recover, as the territory sets out on a programme of reconstruction.

    Listen here.

  9. Sao Paulo hits record high

    Daniel Gallas

    BBC South America business correspondent

    Brazilian flag

    Brazil’s main stock market index, the Ibovespa, has hit a record high - trading above 74,000 points for the first time.

    The previous record was set on 29 May 2008, when the Ibovespa hit 73,920 points.

    Brazilian stocks have been rallying this year as the country emerges from recession and international commodity prices recover.

    Recent political developments suggest the government will have a stronger hand at approving economic reforms in the coming weeks, which also contributed to iBovespa’s performance.

  10. Mercedes-Benz plugs it in

    Daimler CEO Dieter Zetsche

    Not to be left behind in the rush to offer all-electric model ranges, Mercedes-Benz says it will do so for all its passenger vehicles by 2022.

    Daimler chief Dieter Zetsche (pictured) said the car maker would offer at least 50 electrified models in hybrid and fully electric options.

    Daimler will only offer fully electric versions of its Smart city cars by 2020, which Mr Zetsche said would make it "the first conventional car brand that will offer its entire portfolio with e-drive only".

    Recently Volvo and Jaguar Land Rover promised to stop launching new models, solely powered by internal combustion engines, from 2019 and 2020 respectively.

  11. 'The final breakthrough'

    Matthias Mueller

    More on that VW announcement at the Frankfurt motor show. Chief executive Matthias Mueller says the German company is "setting the scene for the final breakthrough for e-mobility". By that we think he means moving electric vehicles into the mass market.

    To that end, VW's so-called I.D. model will compete with Tesla's cheapest offering, the new $35,000 base-price Model 3 sedan, for mass-market buyers.

    A Golf-style compact model with about 600 kilometres (373 miles) of driving range is also due to go into production in 2020.

  12. VW's all-electric vow

    VW car

    Volkswagen, the world's biggest carmaker, has become the latest to move away from petrol and diesel, saying it will offer an electric version of all its 300 models by 2030.

    VW will double investment in zero-emission vehicles to 20bn euros (£18bn) and plans to offer 80 new electric cars across the group by 2025.

    It follows similar moves by BMW, Jaguar Land Rover and Mercedes-Benz.

    Volkswagen chief Matthias Mueller said: "A company like Volkswagen must lead, not follow. We have got the message and we will deliver."

  13. Inflation set to rise

    Oxford Street shoppers

    Inflation figures for August are released tomorrow morning, with rising food and fuel prices expected to have sent the Consumer Prices Index (CPI) measure back up to 2.8%.

    That would end a momentary pause at 2.6% throughout June and July, keeping the rate above the Bank of England's 2% target and close to the four-year high of 2.9% hit in May.

    The main pressure is coming from retailers raising prices in response to the Brexit-hit pound, economists say.

    Martin Beck at Oxford Economics said: "Annual CPI inflation of 2.6% in July was unchanged from the previous month, offering some cause to think that 'peak pain' for consumers from elevated inflation had been reached. August's reading is likely to frustrate that notion, with a small tick-up expected."

  14. New York climbs


    Wall Street has added to earlier gains to be about 1% higher, with the S&P 500 nearing a new record, as damage from former hurricane Irma appeared less severe than had been feared.

    Peter Cardillo, chief market economist at First Standard Financial in New York, said: "For now, we're seeing a bit of a relief rally. It does appear that the worst-case scenario for Florida has been evaded."

    Equifax is the biggest faller on the S&P, down another 5% after last week revealing a hack that may have compromised details of 143 million US consumers.

    Oil prices are down, meanwhile, with Brent down 66 cents at $53.12 a barrel and US oil 33 cents lower at $47.15.

  15. Staycations boost Airbnb

    Airbnb logo

    Airbnb hosts in the UK pocketed £657m in the year to July as the number of guests using the home-sharing platform jumped by 81%.

    The US-based company said UK hosts welcomed about 5.9 million guests in that period, meaning the typical host earn about £3,000 a year. Just over half of the total were British guests, as staycations become more popular.

    Airbnb said just over three quarters of hosts are renting out their primary home, with 44% offering a private room, suggesting many are looking to capitalise on a spare room "without committing to a full-time lodger", the company said.

  16. A helping hand from Paris

    Paris skyline

    We mentioned earlier that US insurer Chubb plans to move its European headquarters from London to Paris after Brexit takes place.

    Although the firm already has a substantial operation in the French capital, Chubb's executive vice-president and general counsel, Joseph Wayland, said French authorities did their bit too.

    "We have been encouraged by the assistance and cooperation provided by the French government as we have considered our post-Brexit options," he says.

    "We are confident that locating our EU base in Paris will ensure that Chubb is well positioned to serve its clients whatever the ultimate terms of the UK's exit from the European Union."

  17. Space invader

    Steve Bennett of Starchaser

    A UK space tourism company has launched an eight-metre rocket in Northumberland National Park.

    Starchaser Industries, founded by Steve Bennett (pictured), fired Skybolt 2 almost a mile into the sky before it broke into three pieces as planned and returned to earth.

    Skybolt 2 rocket

    Mr Bennett, who set up the company 25 years ago, claims he is just a few years away from launching people into space and said the tests done on Monday will help achieve that goal.

    "Next for us is a much bigger rocket ... big enough to carry a person and we'll be launching that within 18 months," he says.

    Despite potentially competing with the likes of SpaceX and Virgin Galactic in the space tourism market, Mr Bennett says: "We want to be launching people into space and this rocket was carrying various systems and experiments that will allow us to do that ... we're just a couple years away from launching people on holidays into space."

  18. FTSE ends higher

    Primark store

    The London market has ended the day up 0.5%, or 36 points, at 7,413.5 points, despite a 5% slide for Primark owner ABF.

    Biggest riser was Provident Financial, up 3.6%.

    On the FTSE 250, Petra Diamonds slumped 6.3%, while Lancashire Holdings rose almost 10%.

  19. Eyewear megamerger raises EU eyebrows

    A woman wearing Ray Ban sunglasses
    Image caption: A woman in Barcelona wears Ray Ban sunglasses

    EU antitrust regulators will meet Luxottica and Essilor this week to express concerns about their 46bn euro (£41.8bn, $55bn) merger, a source tells Reuters.

    The move shows that the European Commission wants concessions to address its concerns about the deal and that they are prepared to open an in-depth investigation if these are not given, or seen as insufficient.

    The merger, which would create a global eyewear powerhouse, has sparked fears among retailers and competitors. Italy's Luxottica is the world's top spectacles maker, with brands such as Ray-Ban and Oakley, while France's Essilor is the top lens maker.