Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Summary

  1. EE says full call service restored
  2. BAE Systems announces almost 2,000 job cuts
  3. UK trade deficit widens in August
  4. Domino's Pizza third quarter sales rise 20%
  5. UK retail sales boosted by higher prices
  6. Record tourist numbers visit UK in first half of the year
  7. Get in touch: bizlivepage@bbc.co.uk

Live Reporting

By Karen Hoggan

All times stated are UK

Get involved

  1. Good night

    That's it for another busy day on Business Live - thank you for staying with us.

    Do join us again tomorrow from 06:00 for more breaking news, reaction and analysis.

  2. Sears Canada plans closure

    Sears Canada has said it will seek court approval to end its business, about four months after it entered creditor protection, citing falling revenues and other problems.

    The firm said it expects liquidation to start on 19 October and continue for 10 to 14 weeks, if the court approves the request.

    The firm had hoped to reach a deal that would keep it in business, "but following exhaustive efforts, no viable transaction for the Company to continue as a going concern was received," Sears said.

    Sears Canada was spun out of the US retail chain in 2012, but the US company remains a large shareholder. When Sears Canada filed for creditor protection in June, the firm had 17,000 employees and 225 stores.

  3. Wall Street on the rise

    The Dow Jones closed up 69.61 points at 22,830.68 on Tuesday, having briefly hit an intraday high earlier in the day.

    Retail giant Wal-Mart saw the biggest gain on the Dow, up 4.5%, after it said US online sales would jump by about 40% in the next tax year. It also said it would buy back $20bn in shares.

    The S&P 500 also made gains, rising 5.91 points to 2,550.64.

    And the tech-heavy Nasdaq closed up 7.52 points at 6,587.25.

  4. First step in Isle of Ulva buyout approved

    Ulva ferryman

    A community group has been granted the right to register an interest in buying an Inner Hebridean island (See earlier post).

    The North West Mull Community Trust wants to buy Ulva so it can attract new residents and increase economic activity.

    The 4,500-acre (seven-sq-mile) island is off the west coast of Mull.

    Nicola Sturgeon announced that ministers had given consent to the trust to register an interest during her keynote conference speech.

    The Land Reform (Scotland) Act 2003 gives communities the right to register and then go on to buy land and assets under certain conditions. Read the full story here

  5. Chancellor could face 'difficult decisions'

    The independent Office for Budget Responsibility has said it expects to "significantly" downgrade its forecasts for UK productivity growth over the next five years.

    Paul Johnson from the Institute for Fiscal Studies said that could lead to some "difficult decisions" for the Chancellor, Phillip Hammond, when he delivers his Budget next month:

    Quote Message: If the forecasts go wrong, if it looks like there's less money around, then it's going to be harder for him - at least if he keeps to his own self-imposed sets of rules - it's going to be harder for him to find that money to spend, whether it's on public sector pay, whether it's on investment, whether it's on social security. But the overall budget position is likely to be less good than was thought at the March budget. from Paul Johnson Institute for Fiscal Studies
    Paul JohnsonInstitute for Fiscal Studies
  6. Why investors like the sound of historic violins

    BBC World Service

    Demand for passion investments, like owning rare musical instruments, is growing and outstripping the desire to drive a classic car, or buy diamonds and antiques.

    Investors have tuned into a melodic way of making money and historic instruments are striking a financial chord, as the BBC's Mike Johnson explained on World Business Report.

    Video content

    Video caption: Demand for passion investments like owning rare musical instruments is growing
  7. McDonald's trial vegan burger in Finland

    McDonald's McVegan burger

    A McDonald's trial of a vegan burger in Finland has cooked up some "promising" results, with sales so successful the company may offer the McVegan nationwide.

    But people hoping for an animal-free happy meal in other countries will have to wait: the test is specific to Finland.

    Sales are from 4 October to 21 November at five shops in Tampere, Finland.

    "The first results are very promising," spokeswoman Heli Ryhanen said. Read the full story here

  8. Equifax apologises again

    Quote Message: Once again, I would like to extend my most sincere apologies to anyone who has been concerned about or impacted by this criminal act. Let me take this opportunity to emphasise that protecting the data of our consumers and clients is always our top priority. from Patricio Remon President for Europe, Equifax Ltd
    Patricio RemonPresident for Europe, Equifax Ltd
  9. Why didn't Equifax contact UK customers sooner?

    Quote Message: It has been regrettable that we have not been able to contact consumers who may have been impacted until now, but it would not have been appropriate for us to do so until the full facts of this complex attack were known, and the full forensics investigation was completed. I urge anyone who receives a letter from Equifax to take advantage of the remedial services being offered to help mitigate against any risk, or to contact us should you have any questions. from Patricio Remon President for Europe, Equifax Ltd
    Patricio RemonPresident for Europe, Equifax Ltd
  10. Warning from Equifax

    Equifax logo with padlock and credit cards in front

    The credit-scoring firm Equifax has said it will be writing to hundreds of thousands of UK consumers potentially affected by a cyber security breach a the firm.

    But it has put out this warning that consumers need to be careful when sharing information.

    "We would like to take this opportunity to emphasise that Equifax correspondence will never ask consumers for money or cite personal details to seek financial information, and if they receive such correspondence they should not respond.

    "For security reasons, we will not be making any outbound telephone calls to consumers. However, customers can call our Freephone number on 0800 587 1584 for more information."

  11. Who will Equifax contact?

    More on the Equifax data breach now - and in its statement the credit-scoring firm said it would be contacting four groups of UK customers potentially affected by the hacking attack

    • 12,086 UK consumers who had an email address associated with their Equifax.co.uk account in 2014 accessed
    • 14,961 consumers who had parts of their Equifax.co.uk membership details - like username, password, secret questions and answers and partial credit card details - from 2014 accessed
    • 29,188 consumers who had their drviing licence number accessed
    • 637,430 consumers who had their phone numbers accessed
  12. Equifax says more Brits may have been hit in data breach

    Equifax logo

    Credit-scoring company Equifax has said more UK consumers than previously thought may have been affected by the huge cyber security breach at the firm.

    The firm said a file containing 15.2 million UK records dated between 2011 and 2016 was attacked.

    It said it needed to contact 693,665 consumers by post, including people who had an email address accessed, people who had their driving licence number accessed and those who had their phone numbers accessed.

    Previously Equifax estimated about 400,000 Britons may have had data compromised.

    The balance of the 14.5 million records potentially compromised may contain the name and date of birth of certain UK consumers," the firm said in a statement. "While this does not introduce any significant risk to these people Equifax is sorry that this data may have been accessed.

    It emerged in September that hackers had gained access to Equifax systems by exploiting a "website application vulnerability".

    Last week, Equifax revealed 145.5 million of its US customers might have been affected, up from a previous estimate of 143 million.

  13. Defence trade body reacts to BAE job cuts

    The World at One

    BBC Radio 4

    Video content

    Video caption: Head of defence trade body calls on government to continue to support exports

    Britain's leading defence manufacturer, BAE Systems, has announced plans to cut almost 2,000 jobs across England. The firm, which makes the Eurofighter Typhoon aircraft, is facing a drop in demand.

    Paul Everitt is the Chief Executive of ADS Group, an industry body which represents the aerospace and defence industry.

    He told Radio 4's World at One that "we definitely need to continue the hard work on securing exports, particularly for the Typhoon and Hawk". He added "the role that the government plays in helping to broker and make those export deals easier is really, really important".

  14. Weakness in productivity growth 'striking'

    The government's economic watchdog, the Office for Budget Responsibility (OBR), has said it expects to downgrade its forecasts for UK productivity growth over the next five years.

    The chairman of the OBR, Robert Chote, spoke to the BBC's economics editor, Kamal Ahmed.

    Video content

    Video caption: UK productivity growth to remain sluggish, says OBR
  15. 'Dark days of the 1970s'

    Stewart Robertson, a senior economist at Aviva Investors, had this to say on today's IMF report - which predicted UK growth would slow from 1.8% in 2016 to 1.7% this year.

    Quote Message: It was noticeable that compared to as recently as July, the UK was the only major developed nation not to receive an upward growth revision. The reasons for this are well-documented, largely the result of weaker consumer spending.
    Quote Message: Looking further ahead, the IMF referred to the “highly uncertain” medium-term outlook, a direct consequence of Brexit. The last time that Britain was such a notable underperformer was in the dark days of the 1970s. Let’s hope it is cyclical this time, not structural.
  16. Advice for EE customers

    Woman from behind on phone

    Price comparison and switching service uSwitch has issued some advice for EE customers who can't call users on other networks (See previous posts).

    "Customers who are suffering can keep a track of this incident using EE's own network status checker and ask the provider to keep them posted," says mobiles expert Ru Bhikha.

    "For those needing to stay in contact, it's worth considering data based calling services like Whatsapp, Skype or Facetime - but it's worth remembering that heavy use of these services could eat into your data allowance pretty quickly.

    "If you are unhappy with how long the fix has taken, you should follow EE's formal complaints procedure.

    "If you feel that this is unresolved after eight weeks, you can submit your complaint to the independent Alternative Dispute Resolution (ADR) scheme - for EE customers that's Ombudsman Services."

  17. Hammond's new Budget headache

    Kamal Ahmed

    Economics editor

    Philip Hammond

    Budget Day for the Chancellor just became a little more tricky.

    The announcement by the government's official economic watchdog that it expects to downgrade productivity growth over the next five years is likely to mean lower tax revenues for the government.

    And lower tax revenues mean that reducing the deficit becomes harder.

    Low levels of productivity are a demonstration of an economy that is not very good at creating wealth.

    Or wage growth.

    For seven of the last 10 years, people have suffered falling real incomes, where earnings growth lags behind price increases (inflation).

    This is not a comfortable position for any government to find itself and negatively affects consumer confidence and spending power - the key drivers of the UK economy.

    Read Kamal's full blog here.

  18. FTSE closes higher

    London Stock Exchange sign

    In London the FTSE 100 has closed 0.4% or 30 points ahead at 7,538.27.

    The biggest decline was posted by Pearson - down by 1.9% - while builder Persimmon gained 2.34%, making it the biggest climber.

    The FTSE 250 edged up by 0.22% or 44 points to 20,146.28. The biggest increase rise was seen by Domino's Pizza after it reported an 8% rise in third quarter sales. Its shares closed nearly 9% higher.

    Meanwhile Pets at Home fell by 8% after a key shareholder sold some shares.