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  1. Get in touch:
  2. Sterling at $1.3257 and 1.1278 euros
  3. Construction sector contracts in September
  4. Monarch boss apologises to customers and staff
  5. Uber chief in London for TfL talks

Live Reporting

By Tom Espiner

All times stated are UK

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  1. Good night

    That's all for the Business Live page for tonight.

    Please join us again tomorrow from 06:00.

  2. Wall Street hits new record

    Wall Street sign

    US stock indexes touched new record highs, boosted by a rally in tech stocks and gains in Ford Motor and General Motors after strong September vehicle sales.

    Major carmakers reported higher US new vehicle sales in September, as consumers in hurricane-hit parts of the country rushed to replace flood-damaged cars.

    General Motors' shares rose 3.1% to $43.45, while Ford's stock was up 2.1% at $12.34.

    Technology stocks have rebounded from a sharp selling seen last week, with Apple and Intel supporting gains on Tuesday.

    The Dow Jones industrial average was up 84 points or 0.37% at 22,641.67.

    The S&P 500 at 2,534.58, up 5 points or 0.22%.

    And the tech-heavy Nasdaq was at 6,531.71, a rise of 15 points or 0.23%.

  3. Monarch closure timing 'could have been much worse'

    A couple walk on the beach in Praia da Luz in Algarve, southern Portugal

    Peter Jenkins, managing director of holiday accommodation provider Sun-hat Villas and Resorts, has told the BBC that the timing of Monarch's closure could have been much worse for its customers.

    "Normally airlines go out of business in May at a time when there is all the summer capacity to look at," he said.

    "The timing of this was quite fortuitous, as it was probably at a time when it had least impact on customers.

    "For example, we have lots of people booked to stay with us next year who haven't booked their flights yet or who have booked with other companies or airlines."

    There has been minimal disruption for Mr Jenkins' current clients and he added: "We have just been trying to be as flexible as possible with moving dates or extending their stays until they can get new flights."

  4. Help to Buy: who has been helped?

    Reality Check

    Help to Buy signs

    BBC Reality Check has been crunching the numbers on the government's Help to Buy scheme following the prime minister's annoucement on Sunday of a further £10bn to widen the number of first-time buyers eligible for assistance.

    Read more here.

  5. Apple and Samsung: Rivals and partners

    iphone X

    Apple's iPhone X goes on sale next month, what's interesting is that Apple's rival Samsung will make $110 from each phone sold, according to the Wall Street Journal.

    Samsung supplies screens and memory for the iPhone, which according to the article means that Samsung is likely to make more money from components in the iPhone X, than parts from its own Galaxy S8.

  6. Sterling slips to three week low

    Pound coins and dollars

    Sterling slipped to a three-week low on Tuesday after data showed construction sector activity tumbled in September, and as investors worried about political and economic uncertainty surrounding Britain's exit from the European Union.

    Brexit minister David Davis told the Conservative Party conference on Tuesday that Britain wants to negotiate an exit agreement with the EU but is ready to walk away with no deal, and that officials were "contingency planning" to make sure all scenarios were covered.

    The comments added to a sense of uncertainty over Britain's future - both political and economic - for investors that has dragged sterling down more than 10 percent against the dollar since last June's vote for Brexit.

    Despite foreign minister Boris Johnson saying at the conference that the cabinet was united behind every syllable of Prime Minister Theresa May's recent speech in Florence, the event has been overshadowed by reports of disunity and leadership bids from rivals in the government.

  7. EU 'to tell Amazon to pay Luxembourg back taxes'

    Amazon warehouse

    EU regulators are expected to order Amazon on Wednesday to pay Luxembourg millions of euros in back taxes, Reuters reports.

    The EU competition enforcer estimated a tax bill of about 400m euros a year ago, Reuters says.

    The European Commission ruling wraps up a three-year long investigation into whether Amazon received an unfair advantage based on a 2003 Luxembourg tax ruling which allows an Amazon subsidiary to pay less tax there than other companies.

  8. Royal Mail: Ballot doesn't necessarily mean strike

    The Royal Mail has put out a press release to the stock market saying it is "very disappointed" that CWU union members have voted in favour of industrial action in a dispute over pay and pensions.

    However, Royal Mail says: "A ballot result for industrial action does not necessarily mean there will be industrial action.

    "Royal Mail is committed to further talks as a matter of urgency, to reach agreement with the CWU.

    "There are no grounds for industrial action. We want to reach agreement."

  9. Boris Johnson: Let the British lion roar

    Boris Johnson

    Boris Johnson has said it is time to "let the British lion roar" as he called for Brexit to be a moment of national renewal.

    The foreign secretary told Tory activists the UK "can win the future" and should stop treating the referendum result as if it were "plague of boils".

    In his speech, he praised Theresa May's "steadfast" leadership over Europe.

    And he insisted the whole cabinet was united behind her aim of getting a "great Brexit deal".

    Read more here.

  10. Wells Fargo shares fall after senator comments

    View more on twitter

    Senator Warren said Mr Sloan should be fired for failed leadership and that "Wells Fargo is not going to change with you in charge".

    Senators criticised Wells Fargo, saying the US bank had not done enough to reform the corporate culture that led to the creation of millions of fake accounts.

    Read more here.

  11. Brazil's 'biggest bank robbery' tunnel

    Daniel Gallas

    BBC South America business correspondent

    Police in Brazil have arrested 16 people accused of digging a tunnel in Sao Paulo that lead to a bank branch.

    Robbers were plotting to stage what police called “the biggest bank robbery in the world”.

    Criminals in Brazil were digging for more than three months a 600-metre long tunnel to reach a bank branch of Banco do Brasil.

    Police said bank robbers invested $1.2m in their enterprise and were hoping to walk away with $320m.

    On Monday they were all arrested in a raid - just as they were about to begin drilling into the bank’s coffers.

    In 2005, a criminal gang managed to dig a tunnel in the city of Fortaleza, stealing $50m.

    Most robbers in that gang were eventually arrested.

  12. London Underground strike called off

    A strike by London Underground drivers on Thursday has been called off after progress was made during talks, drivers' union Aslef says.

    View more on twitter
  13. Uber meeting 'constructive' says TfL

    Dara Khosrowshahi
    Image caption: Uber chief executive Dara Khosrowshahi

    Both Transport for London and Uber have said a meeting between them today was "constructive".

    A TfL Spokesperson said: "Today's constructive meeting centred on what needs to happen to ensure a thriving taxi and private hire market in London where everyone operates to the same high standards.

    Further steps in this process will take place over the coming weeks."

    An Uber spokesperson said: "Our new chief executive [Dara Khosrowshahi] had a constructive meeting with the Transport Commissioner [Mike Brown] this afternoon.

    "We hope to have further discussions over the coming weeks as we are determined to make things right in London."

    Uber lost its licence to operate in London in September.

  14. Monarch 'keeps on HR team to deal with redundancies'

    On Monday a total of 1,858 Monarch employees were made redundant. Of these, 1,760 were employees of Monarch Airlines, while 98 were employed by Monarch Travel Group.

    Here's an update on the situation for Monarch airlines staff from one of the KPMG joint administrators Blair Nimmo:

    “Importantly, we have retained the company’s 17-strong HR team to provide assistance to the rest of the workforce, including help in making claims to the Redundancy Payments Office.

    "Their support, at what is also a very difficult time for them, has been crucial and we are very grateful to them.

    "Within the next 48 hours, all employees will be receiving a substantial pack of correspondence from the joint administrators to assist them with making their claims."

  15. BreakingRoyal Mail employees vote in favour of strike action

    The Royal Mail is facing the threat of the first national strike since it was privatised after workers voted massively in favour of industrial action in a dispute over pensions, pay and jobs.

    Members of the Communication Workers Union (CWU) backed walkouts by 89% on a turnout of 73% of the 110,000 balloted.

    It passed the threshold set in the government's controversial Trade Union Act, under which ballots need a 50% turnout for industrial action to go ahead.

  16. Davies speech 'a damp squib' says Starmer

    Keir Starmer

    Labour’s shadow Brexit secretary Keir Starmer says his Conservative counterpart David Davies gave a "damp squib" of a speech at the Conservative Party conference:

    The speech "offered nothing new on how the government intends to break the impasse in Brexit negotiations and deliver a new progressive partnership with the EU," Mr Starmer says.

    "On the day the European Parliament voted to delay future trade talks with Britain, it is now clear that Tory infighting is harming the Brexit process.

    "Paralysis in the negotiations risks havoc for the British economy and uncertainty for EU and UK citizens."