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  1. Get in touch:
  2. Wall Street ends lower due to tech stock falls
  3. FTSE 100 jumps 1%
  4. Glencore faces money laundering investigation
  5. KPMG probed over Bargain Booze owner
  6. Adam Crozier to chair Asos

Live Reporting

By Mary-Ann Russon

All times stated are UK

  1. Good night

    BBC testcard

    That's it for today on Business Live - thanks for reading. We'll be back bright and early at 06:00 on Wednesday.

    Do join us then for all the latest breaking news and analysis from the wonderful world of business.

  2. Traders distracted during world cup matches

    A Wall Street trader watches a world cup match

    This probably won't come as a surprise, but Citigroup has released a new report that says traders are "significantly" less productive during world cup matches.

    Citi analysts found that trading volumes fell by between 18-48% during world cup matches, and that there was "strong evidence" that football is distracting.

    However, the analysts did say that the distraction did not significantly impact market function.

    That's good, although with the US and UK markets now closed for the day, it might not be too bad for those watching the England - Colombia game right now.

  3. Collecting World Cup stickers

    BBC World

    View more on twitter

    BBC World News presenter Aaron Heslehurst has been finding out more about the enduring hobby of football sticker albums.

    Panini's Jessica Bell tells us how the company has changed its strategy in the digital age to keep consumers interested...

  4. Less pain, more stress

    People walking in the workplace

    A study by the University of Chicago and the Federal Reserve Bank of Chicago into how happy people are at work has found that while some things are better than in the 1950s, some things are not.

    According to the Economist, today's workers are less sad, less tired and in less pain.

    However, employees today are more stressed, thanks to modern employment patterns.

    Interestingly, women feel a greater sense of meaning and happiness in jobs today, while men feel the opposite - the opposite from the situation in the 1950s.

  5. Glasgow taskforce offers support to fire-hit businesses

    An aerial view from the Police Scotland helicopter shows how close the Victoria's nightclub fire was to the Pavilion Theatre

    Staff who lost their jobs after two devastating fires on Sauchiehall Street will be provided with support by other Glasgow businesses.

    A taskforce set up after the blazes at Victoria's Nightclub and the Glasgow School of Art will also assist local firms encountering insurance problems.

    It includes representatives from Glasgow Chamber of Commerce (GCoC).

    Stuart Patrick, chief executive of GCoC, said the fires had had a "huge" impact.

  6. England fans dig deep for pricier pints

    People holding pints of beer cheering

    England fans watching tonight's World Cup clash with Colombia in the pub may come home a little more out of pocket than expected.

    Pub chain Stonegate Pubs is charging up to 50p more for a pint during England's matches in some of its 690 pubs.

    Stonegate said the price hike paid for door staff, plastic cups and cleaning so venues could meet a number of licensing requirements.

  7. Roblox 'gang rape' shocks mother

    Roblox is a multiplayer platform where players can create their own games and join in with others

    A US mum has written a Facebook post describing her shock at seeing her child's avatar being "gang raped" by others in the online game Roblox.

    Amber Petersen said her seven-year-old was playing the game, which is marketed at children, when she showed her the screen and asked what was happening.

    She also shared screenshots, which showed two male avatars attacking her daughter's female character.

    Roblox said it had banned the player who carried out the action.

  8. Brexit turning into 'nightmare of job losses'

    Len McCluskey

    Brexit is turning into a "nightmare", with the shadow of job losses hanging over British industry, because of the Government's handling of negotiations to leave the EU, warned Len McCluskey, general secretary of Unite.

    He said Theresa May has lost all authority or capacity to make decisions. He told the union's policy conference in Brighton: "She is held prisoner by the dogmatists and fantasists of the far right."

    "But Brexit is turning into a nightmare for the rest of us - a nightmare of uncertainty above all. "The shadow of job losses is hanging over much of the British economy."

  9. Wall Street ends lower

    Wall Street

    Wall Street shares have closed lower, weighed down by falls in technology stocks and continuing investor fears of a trade war between the US and its trading partners.

    The trading session closed early ahead of the 4 July Independence Day public holiday in the US tomorrow.

    The Dow Jones Industrial Average ended 132.4 points or 0.5% lower to 24,174.82. Top of the losers was sports brand Nike, which fell 2.6% to $76.28 following news that tennis star Roger Federer dropped the brand for a $300m deal with Japanese casual wear brand Uniqlo.

    The S&P 500 closed 13.5 points or 0.5% down to 2,713.22. The losers were led by semiconductor chip maker Micron Technology, which dropped 5.5% to $51.48 after its rival United Microelectronics Corp (UMC) said Micron had been served with a temporary injunction banning chip sales in mainland China.

    Micron said in response that it had not been served with the preliminary injunction mentioned by UMC.

    And finally, the tech-heavy Nasdaq finished 65 points or 0.9% lower to 7,502.67. The leading loser was electric car company Tesla, which fell 7.2% to $310.86 following negative reports from analysts, including Goldman Sachs.

  10. Jobs saved as troubled shopfitter is sold

    A man in a workshop

    More than 300 jobs have been secured at Fife-based Havelock Europa after the business was bought out of administration.

    The firm was sold through a pre-pack administration process to Havelock International, a new firm established by turnaround specialist Rcapital.

    The sale came immediately after the appointment of PwC as administrators.

    A total of 320 jobs were threatened after Kirkcaldy-based Havelock suffered a drop in orders.

  11. Strictly pay gap: Horwood says Ballas should be paid less

    Revel Horwood and Shirley Ballas

    Strictly Come Dancing's Craig Revel Horwood says head judge, Shirley Ballas, should be paid "less" due to a lack of TV experience.

    The panellist has reignited the show's gender pay debate, after it was previously revealed Ballas was paid less than her predecessor, Len Goodman.

    Horwood told The Sun that Ballas's contribution to the show was not "comparable" to Goodman's.

    Former judge Arlene Phillips agreed, saying: "I do think experience counts."

  12. The highs and lows of being an entrepreneur

    BBC World Service has been speaking with entrepreneurs who have created businesses and seen them fail. Now, they are picking themselves up, dusting themselves off, and starting all over again.

    In South Korea, Hyerin Park attempted to kickstart the market for green energy through tidal power. But her ambitious project faced numerous challenges and it went bust.

    Today she has an innovative new product she is trying to sell – a portable unit which can generate power for campers by dipping it in a stream.

    View more on twitter
  13. Facebook shuts down Hello, Moves and tbh apps


    Facebook is retiring three apps, blaming low user numbers.

    One, an anonymous social media app aimed at teenagers called tbh, is less than one year old.

    It was bought by the tech giant eight months ago after attracting millions of downloads at launch.

    All user data for tbh, along with fitness tracker Moves and Hello, an app which linked Facebook information with phone contacts, will all be deleted within 90 days, the firm said.

  14. Tullow Oil slapped with $140m fine over Ghana contract

    Oil rig

    Tullow Oil has been fined $140m for illegally terminating a contract in Ghana.

    A court ruled that Tullow was not entitled to terminate its West Leo rig contract with Seadrill Ghana Operations in 2016, by invoking the contract’s force majeure provisions.

    The firm had made a provision of $128m for the fine in its 2017 annual report and accounts.

    “Tullow is disappointed with the decision and maintains the view that it was right to terminate the West Leo contract for force majeure,” the company said in a statement.

    “Tullow will now examine its options, including seeking leave to appeal the judgment.”

  15. UK air traffic control responds to Ryanair

    Air traffic controllers at Manchester Airport

    This morning, budget airline Ryanair released figures on its passenger numbers. A key fact in its report was that there were over 1,100 flight cancellations in June.

    Ryanair said the cancelled flights were due to four weekends of air traffic strikes and "repeated UK, German and French air traffic control staff shortages".

    Nats, the UK's main air navigation service provider, disagrees.

    "Nats handles 25% of European traffic and has an extremely good punctuality record – we are maintaining that record despite a big growth in air traffic. The average NATS-attributable delay per flight in the last calendar year was less than 7 seconds," a Nats spokeswoman told the BBC.

    "We are surprised at Ryanair’s criticism of the quality of the UK’s air traffic control service – the categories of delay are set across Europe and all air traffic control providers are required to report against them. We don’t just make it up.

    "The very high increase in traffic levels, which already this summer have broken all previous records, means there are occasions when total traffic exceeds the airspace capacity and so we have to regulate the amount of traffic using it, to maintain a safe operation."

  16. Why the price of crude oil fell so quickly

    Oil rig

    As we mentioned earlier, there was excitement earlier this afternoon as the price of US crude oil rose to $75 a barrel - a price that has not been seen since 2014.

    The boost was aided by an apparent threat by Iran to disrupt all oil shipments from the Middle East if President Trump pushed ahead with sanctions. However, soon after that, the price dropped again to $73.33.

    So why the sudden drop?

    Saudi Arabia released a statement saying it is "ready to use its spare capacity when needed to deal with any future changes in oil and supply levels and in co-ordination with other producers", according to the FT.

    Brent crude is now down 0.3% to $77.06, while West Texas Intermediate has lost 1% and is now at $73.14.

  17. London closes slightly ahead

    London Stock Exchange

    London shares have closed slightly ahead, as investor concerns about US trade tariffs countered gains in technology, pharmaceuticals and utility stocks.

    The FTSE 100 ended 45.4 points or 0.6% higher to 7,593.29, led by BT Group, which rose 2.8% to 223p.

    The FTSE 250 closed 59.4 points or 0.3% ahead to 20,665.22. Top of the winners was Paragon Banking Group, which jumped 8.7% to 511.5p after announcing it acquired a residential development finance lender to help it diversify its business into more lending markets.

  18. Disgraced tycoon sentenced to 30 years in prison

    Daniel Gallas

    BBC South America business correspondent

    Eike Batista

    Eike Batista was once the symbol of a bold, booming Brazil.

    A self-made billionaire, his empire stretched from mining to oil and public works.

    A flashy maverick with taste for expensive cars and a lavish lifestyle, he was also an inspiration for a generation of young Brazilian entrepreneurs.

    But it all proved to be not more than an illusion. Many of his ambitious infrastructure projects were poorly planned and failed to come to fruition.

    And then there was corruption. It was revealed much of his empire was built through personal links with corrupt officials at the top.

    Now he is the symbol of a different kind of Brazil: one that is deep economic trouble but is trying to tackle years of corporate corruption.

  19. US crude oil hits a four year high

    A man working on an oil rig

    For a brief period earlier today, US crude oil prices hit $75 a barrel for the first time since 2014, after Iran appeared to threaten to disrupt all oil shipments from the Middle East, should the Trump administration insist on imposing sanctions.

    However, after the surge in oil price, the price of oil fell again to a low of $73.33.