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Live Reporting

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 6am tomorrow.

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

  2. Brent sinks 6.9%

    Brent crude suffered its biggest one-day fall in two years as escalating US-China trade tensions threatened to hurt oil demand, combined with news that Libya would reopen its ports raised expectations of more supply.

    Brent crude fell $5.46, or 6.9%, to end at $73.40 a barrel - the biggest one-day percentage decline since 9 February 2016.

    US crude fell $3.73, or 5%, to $70.38 a barrel.

  3. Sounds good to me

    Chris Johnston

    Business reporter, BBC News

    Nile Rodgers

    It's not every day that music legend Nile Rodgers (pictured) rocks up to the London Stock Exchange - but today was one of those days.

    Hipgnosis Songs Fund, a vehicle set up by Rodgers' manager Merck Mercuriadis, floated on the LSE today raising about £200m. Rodgers is a member of the fund's advisory board.

    HSFL will use the funds to buy copyrights and today announced its first deal - spending $23m on a 75% stake in a 300-song catalogue from US producer and songwriter The-Dream.

    It includes megahits he either wrote, co-wrote or produced, such as Rihanna's Umbrella and Beyonce's 2010 smash Single Ladies (Put a Ring on It).

    Mercuriadis once managed Beyonce, as it happens, as well as Guns n Roses.

    View more on twitter
  4. Broadcom nears $18bn deal

    The Wall Street Journal is reporting that Broadcom is close to a deal to buy softare firm CA Technologies for about $18bn.

    The deal comes just months after the US blocked its bid for Qualcomm.

  5. Wall Street falls

    Wall Street ended lower, snapping four sessions of gains after Washington's threat to impose tariffs on an additional $200bn of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.

    The Dow Jones Industrial Average fell 0.9% to 24,700, the S&P 500 lost 0.7% to 2,774 and the Nasdaq Composite dropped 0.5% to 7,716.

  6. Jenner stars on Forbes list

    Kylie Jenner, Kim Kardashian and Kanye West
    Image caption: Kylie Jenner, Kim Kardashian and Kanye West at the Louis Vuitton Menswear Spring/Summer 2019 show in Paris last month

    Kylie Jenner has appeared on Forbes' annual ranking of the richest self-made women in America for the first time.

    Jenner, 20, is at number 27 and the youngest on the list.

    According to Forbes, she has amassed a fortune of $900m (£680m) in less than three years - mostly from her make-up company Kylie Cosmetics, which has now sold products worth some $630m.

    Forbes has estimated that the company she owns outright, which first sold her popular lip kits before incorporating skin and eye makeup, is worth $800m.

    Her half-sister Kim Kardashian West is in joint 54th place on the Forbes list, alongside author Danielle Steele and businesswoman Janice Bryant Howroyd, with wealth estimated at $350m.

    View more on twitter
  7. Fox shares fumble

    Fox sign

    Shares in Twenty-First Century Fox are down 3.8% at $47.90 in late trading in New York after Rupert Murdoch's media company raised its offer for Sky, fending off rival Comcast - for now.

    Comcast shares, meanwhile, is 1.4% higher at $33.80.

  8. In case you missed it...

    In case you missed it, US President Donald Trump said on Twitter yesterday that he got pharmaceutical giant Pfizer to halt a hike in drug prices...

    View more on twitter
  9. Oil price drops over 5%

    A man on an oil rig

    Global oil prices have fallen over 5% a barrel due to escalating trade tensions between the US and Chin, as well as news that Libya is to reopen its ports.

    Brent Crude has fallen $4.55 to $74.35 a barrel, and US crude fell $3 to $71.11 a barrel.

    Shares in both Exxon Mobil and Chevron are down on the Dow Jones Industrial Average - Chevron fell 3% to $123.74, while ExxonMobil dropped 1.4% to $82.50.

  10. Third north east construction firm folds

    Anderson Construction was involved in building commercial properties

    An Aberdeen-based construction firm has collapsed, with the loss of nearly 20 jobs.

    Anderson Construction (Aberdeen) Ltd was involved in building commercial properties for private and public sector organisations.

    A provisional liquidator from Johnston Carmichael was appointed after the company got into difficulties.

    Anderson has become the third north east-based construction firm to fold this month.

  11. Why a side-gig can be harder for women

    A woman working on a circuit board

    Women are a third less likely than men to start a business – so how can we better turn ideas into success stories?

    Will 2018 finally be the year that you turn your pet project into a money-spinner? Sadly, for most women, this dream is less likely to become a reality.

    Research from UK bank NatWest found that women are a third less likely to start a business than men, with fear of failure cited as a major barrier.

    So what’s stopping us?

    Blogger, podcast host and writer Emma Gannon has a theory. She thinks women are going through a collective confidence crisis.

  12. Workers off North Sea platform due to lifeboat work

    North Sea off-shore oil rig

    Dozens of workers have been taken off a North Sea platform due to maintenance work on lifeboats.

    CNR International said 59 non-essential personnel had returned onshore from the Ninian Southern, 75 miles (120km) east of Shetland.

    The move has seen 80 workers left on board. CNR said there was no impact to production as a result.

    The company said it would ensure the correct procedures were followed before it fully re-manned the platform.

  13. Ryanair strikes to go ahead in Ireland


    Irish public service trade union Fórsa has told the BBC that Ryanair pilots will be going on strike for 24 hours from 01:00 BST on Thursday.

    The budget airline said it would cancel up to 30 out of 290 flights on British-Irish routes tomorrow.

    Last week, Ryanair staff held the first ever summit for crew in Dublin, where they drafted a charter containing demands on economic conditions, safety and rosters, a fair and supportive work culture, agency employment, the right to sick pay and sales targets.

    On top of tomorrow's strikes, Ryanair cabin and ground crew in Spain, Portugal, Italy and Belgium will be striking on 25 and 26 July.

  14. Fighting fraud in the food chain

    BBC World Service

    Could blockchain technology solve the global problem of food fraud?

    Rahul Tandon reports on a meat scandal in India and Manuela Saragosa speaks to Jessi Baker, the boss of Provenance, a company that uses theblockchain to make supply chains more transparent, and to Chris Elliott from the Institute for Global Food Security at Queen's University in Belfast in the UK.

    Video content

    This content is currently not available

  15. Parents would prefer AI in their old age

    Visualisation of a robot helping an elderly man to stand

    The Institute for Electrical and Electronics Engineers (IEEE) – the world’s largest technical professional organisation dedicated to advancing technology – has found in a survey that the parents of millennials would much rather rely on artificial intelligence than their children to help them live independently when they get to old age.

    IEEE interviewed 2,000 parents in the UK, US, China, India and Brazil ages between 20-36 years old.

    Chinese parents were most enthusiastic about using AI for geriatric care - 94% of respondents said they would prefer to rely on technology, followed by 79% of parents interviewed in India.

    In comparison, only 61% of respondents in the UK would rely on AI, and 56% in the US.

  16. Govia Thameslink boss in first class row

    A Southern train

    A Govia Thameslink manager is under fire for telling passengers to stay out of a crowded train's first class cabin.

    Emma FitzPatrick tweeted a picture of Mark Boon, head of network operations for Govia Thameslink Railway.

    She said he told passengers not to occupy the "empty" first class section on a "very packed" train on Tuesday morning "while he took up two seats".

    Govia Thameslink said all passengers needed a first-class ticket to travel in that section.

  17. BBC pay: Men still dominate star salaries list

    Gary Lineker is now top of the list, followed by Graham Norton and Chris Evans
    Image caption: Gary Lineker, followed by Graham Norton and Chris Evans

    The top 12 earners on the BBC's latest list of star salaries are all men.

    Match of the Day host Gary Lineker has overtaken Chris Evans as the best-paid person on the list, earning between £1.75m-£1.76m in 2017-18.

    Evans, Graham Norton, Jeremy Vine and John Humphrys are among those to have seen their pay drop since last year.

    Claudia Winkleman is still the top woman, on £370,000-£379,999. Mary Berry and Newsnight's Emily Maitlis are among eight women to have joined the list.

  18. Electrical shops to pay £200,000 if England win World Cup

    A HBH Woolacotts  store

    A chain of electrical stores will refund customers more than £200,000 if England win the World Cup.

    HBH Woolacotts has nine shops across Cornwall and Devon, and offered a promotion to refund customers who bought OLED TVs between 1 May and 17 June.

    England play in the semi-final against Croatia later on Wednesday.

    Company director Chris Hemmerle said he was "a little bit nervous" but he "would love to see us win the trophy".

  19. Second man charged in Fitbit stock hoax case

    A Fitbit

    The US Securities and Exchange Commission (SEC) has filed charges against a second man who it claims was involved in a scheme in 2017 involving the smart fitness tracker bracelet company Fitbit.

    The SEC alleges that two men - Robert Murray and Mark Burns - made a plan to orchestrate a hoax takeover bid for Fitbit, in order to manipulate the company's stock price.

    The scheme was discovered after one of the suspects made a false filing to the SEC.