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Live Reporting

By Tom Espiner

All times stated are UK

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  1. Good night

    Well, that wraps it up for the Business Live page for another week. Please join us again on Monday from 06:00.

  2. Internet speed guarantees must be realistic, says Ofcom

    Broadband speed test

    Internet users are to be granted more rights on connection speeds as Ofcom imposes tougher rules on how ISPs advertise broadband services.

    The proposals give consumers the right to exit contracts penalty-free if speeds fall below a guaranteed minimum.

    Ofcom says there is a mismatch between what is advertised, and the speeds customers receive.

    But experts say speeds are affected by different factors, and are not strictly a measure of connection to a device.

    Read more here.

  3. Wall Street ends the week mixed

    Wall Street had a mixed day as energy shares drop sharply and add to the dour mood set by the first decline in US jobs in seven years.

    The Labor Department's closely watched employment report showed nonfarm payrolls fell by 33,000 in September as Hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring.

    The Dow Jones Industrial Average was down 1.72 points, or 0.01%, at 22,773.67. The S&P 500 was down 2.74 points, or 0.17%, at 2,547.75, ending an eight-day gaining streak. The Nasdaq Composite, however, was up 4.82 points, or 0.07%, at 6,590.18 and hit its sixth-straight record high.

  4. 'Like shouting fire in the theatre'

    Chris Johnston

    Business reporter, BBC News

    Andy Haldane (left) and Bank of England governor Mark Carney
    Image caption: Andy Haldane (left) with Bank of England governor Mark Carney

    The Bank of England may never regain the trust it lost during the financial crisis, according to chief economist Andy Haldane.

    "Even as the scars of the crisis heal, this trust deficit might not repair itself naturally," he said during a Q&A at the Royal Society of Arts in London.

    However, that's not to say that Mr Haldane thinks the Bank should have been more reveaing during the crisis:

    Quote Message: Had we been fully open and fully transparent about what was going on during the financial crisis, it would, let me tell you, have been a lot lot worse. That would have been shouting fire in the theatre and however bad it was, it would have caused ... an even greater haemorrhaging in confidence, and even greater collateral damage for savers and borrowers than we even saw."
  5. The pound in your pocket

    Pound coins have lost a third of their value since they were introduced in 1983, says Hargreaves Lansdown.

    "Back then you could get a pint of beer and a loaf of bread for just a fraction over a pound," it says.

    Sarah Coles, a personal finance analyst at the firm, says looking at what a pound will buy you "reveals the striking impact of inflation".

    "Overall, today you would need £3 to buy what you could get for £1 back in 1983.

    "Some prices have risen faster than others, so while the price of a pint of milk has more than doubled, the price of a loaf of bread has almost tripled and the price of a pint of beer has risen more than four-fold."

    Of course, rather depressingly, at the moment UK inflation is outstripping wage growth, so we're effectively getting just that little bit poorer every day.

  6. Kellogg's chomps up protein bar firm


    Kellogg's says it's to buy a protein bar firm for $600m as the cereal giant as it tries to move into healthier foods and go after younger customers.

    Chicago Bar Co, which makes RXBAR, will continue to operate independently after the deal, Kellogg's says.

  7. Payout in hacking case

    A former intelligence officer whose computer was hacked has accepted substantial undisclosed damages from News Group Newspapers, part of Rupert Murdoch's News Corp.

    Ian Hurst brought proceedings at London's High Court against NGN, publisher of the defunct News of the World, and News UK & Ireland Ltd for breach of confidence and misuse of private information.

    He served in the Intelligence Corps and the Force Research Unit in Northern Ireland between 1980 and 1991 when he retired.

    His primary role was to recruit and run agents within Republican terrorist groups to obtain tactical and strategic intelligence.

    Mr Hurst's counsel, Jeremy Reed, told Mr Justice Mann on Friday that NGN now accepted that Mr Hurst's privacy had been invaded.

    He said that it accepted vicarious liability for the circumstances which ultimately led to the wrongful acts of Philip Campbell Smith, who was known to some for his expertise in computer hacking and email interception.

    He added that NGN acknowledged that his emails were intercepted routinely and intensively over a period of several months in 2006.

    It had agreed to pay him substantial damages and his legal costs.

    Anthony Hudson QC, for NGN, said it offered its "sincerest and unreserved" apologies: "News Group Newspapers accepts that such activity happened, accepts that it should never have happened, and has undertaken to the court that it will never happen again."

  8. Treasury: Productivity a long-term challenge

    Union flag umbrella

    Following UK productivity falling at its joint-fastest annual rate since 2013 in the year after the country voted to leave the European Union, the Treasury had this to say:

    "Productivity has been a long-term challenge which is why we must invest now to step up our performance.

    "We have announced £23 billion for infrastructure, research and housing while also reforming technical education so that our economy works for everyone."

  9. Further tariff of 80% imposed on import of C-Series

    Bombardier jet

    The US Department of Commerce has again ruled against aerospace firm Bombardier in its dispute with rival Boeing.

    A further tariff of 80% has been imposed on the import of Bombardier's C-Series jet to the US for alleged below-cost selling.

    This is on top of an earlier tariff of 220% which related to subsidies Bombardier got from Canada and the UK.

    There have been warnings that the import tariffs could threaten Bombardier jobs in Belfast.

    Read more here.

  10. US environment agency to argue Obama climate rules illegal

    Geothermal plants stand beside a dried up lake bed near Red Hill Marina

    In an unusual move for an environmental protection agency, the US EPA is to argue that Obama-era carbon emissions regulations for power plants were illegal, in a move to repeal them.

    The EPA is headed by Scott Pruitt, who as a lawyer opposed environmental regulations.

    He was appointed by US president Donald Trump, who has said "the concept of global warming was created by the Chinese in order to make US manufacturing non-competitive."

    Mr Trump picked Andrew Wheeler, a coal lobbyist, as deputy head of the EPA on Friday.

  11. Moody's: Catalan independence would have negative impact

    Catalan protestors

    Independence for Catalonia would "have broad negative, albeit highly uncertain, credit implications for a wide range of bond issuers in Spain and the region", says credit ratings agency Moody's.

    "Despite heightened tensions between the Catalan regional government and the central Spanish authorities, our central scenario remains that Catalunya will continue to be part of the Kingdom of Spain," said Colin Ellis, a Moody's managing director.

    "The independence process would likely be very disruptive, with significant operational risks, as well as potential financial or economic fallout.

    "Institutional frameworks would also change, both domestically and internationally. The precise nature of any relationship between a newly independent Catalonia and the European Union - or indeed what currency Catalonia would use - is highly uncertain."

  12. Royal Mail sends legal letter to CWU

    The Royal Mail has sent a legal letter to the Communication Workers Union asking it to follow "dispute resolution procedures".

    "If CWU does not withdraw its notice of strike action by 12 noon Monday 9 October, Royal Mail will lodge an application with the High Court for an injunction to prevent industrial action," Royal Mail said.

  13. RBS removes logo from London HQ

    RBS logo

    RBS has swapped out its RBS branding at its London HQ at 250 Bishopsgate to make way for Natwest branding.

    Last year the bank announced it would rebrand as NatWest in England and Wales, Ulster Bank in Ireland and the Royal Bank of Scotland in Scotland.

    RBS logo
  14. Ryanair 'run like a communist regime', says pilot

    Michael O'Leary

    Cabin crew reduced to tears, pilots refused days off even for their weddings, and workers "left in exile" thousands of miles from their homes and families.

    After budget airline Ryanair was forced to cancel thousands of flights - repeatedly blaming a rostering error rather than an alleged pilot shortage - chief executive Michael O'Leary has written to pilots offering them better pay and conditions.

    A long-serving pilot explains why the offer is "too little, too late", and explains why his colleagues are leaving the airline.

    Read more here.

  15. FTSE 100 rises but pound falls to one-month dollar low


    The pound continued to fall as uncertainty over Theresa May's future as prime minister hit the currency.

    Sterling fell to a one-month low against the dollar, hitting $1.3035 at one point. Against the euro, the pound dropped 0.6% to €1.1135.

    Former Tory Party chairman Grant Shapps said on Friday he believed Theresa May should face a leadership election.

    Connor Campbell at Spreadex said a leadership battle would be "seriously bruising for the pound".

    Read more here.

  16. Catalonia referendum: Spain apologises to injured Catalans

    Spanish police and protesters face off

    The Spanish government's representative in Catalonia has apologised to those injured during police efforts to stop Sunday's independence referendum.

    But Enric Millo blamed the Catalan government for holding an illegal vote.

    Meanwhile the government in Madrid has issued a decree making it easier for companies to move their headquarters away from Catalonia.

    A Catalan minister told the BBC his government would go ahead with an independence debate in parliament.

    Read more here.

  17. Catalan voters said si

    Catalan protesters

    Final results from Catalonia's outlawed independence referendum showed 90% of voters backed the region breaking away from Spain, the Catalan government said.

    A full count of the results from last Sunday's vote, published online, showed that 2,044,038 of the 2,286,217 people who took part voted for independence.

    The turnout, however, was only 43%.

  18. Lord Sugar: There is no gender pay gap

    Video content

    Video caption: BBC Apprentice star denies there is an industry-wide problem with equal pay

    The BBC Apprentice star denies there is an industry-wide problem with equal pay.

    Lord Sugar blames the BBC row over presenter pay for the world assuming that there is a problem.

    He was speaking to the BBC's Vivienne Nunis.