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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Business criticises Brexit White Paper
  3. FTSE 100 closes 0.8% higher
  4. Former Barclays trader found guilty of Euribor rigging
  5. Asos shares sink on sales miss
  6. Fiat workers strike over Ronaldo signing

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 6am on Friday.

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

  2. J&J damages decision

    A Missouri jury has found Johnson & Johnson liable in a lawsuit filed by 22 women who alleged its talc-based products, including J&J Baby Powder, contain asbestos and caused them ovarian cancer, and ordered the company to pay $550m in compensatory damages.

    The jury also unanimously decided to award punitive damages, the amount of which will be decided during a second stage of the trial.

    The trial was the largest case that J&J has yet faced over allegations that its talcum powder products cause cancer.

    The verdict in the Circuit Court of the City of St. Louis came down after a five-week trial during which jurors heard testimony by nearly a dozen experts.

  3. BreakingJustice Department makes Time Warner move

    The US Justice Department said it would appeal a federal judge's approval of AT&T's $85bn takeover of Time Warner.

    The Justice Department opted in June not to seek an immediate stay of the court's approval of the merger, allowing it to close on 14 June.

    The government's court filing did not disclose on what grounds it intends to challenge the approval.

    AT&T did not immediately comment.

  4. UK nears Boeing deal

    A Boeing E-7 Wedgetail owned by the Royal Australian Air Force
    Image caption: An RAAF Boeing E-7 Wedgetail

    The UK government is close to a deal to buy as many as six Boeing surveillance planes, Reuters reports.

    The UK is looking to replace its six ageing E-3D Sentry airborne early warning jets, and a deal for a fleet of Boeing E-7 Wedgetail jets would be worth more than £750m.

    However, Airbus is considering a legal challenge as it wants to stop the contract from being awarded without a full competition open to European companies.

  5. BreakingNasdaq hits new high

    NYSE

    US markets ended higher on Thursday as big technology stocks hit record highs, sending the Nasdaq to a new record high, while industrials rebounded, offsetting concerns about a US-China trade war.

    The Dow Jones Industrial Average rose 225 points, or 0.9%, to 24,925.9, the S&P 500 gained 24.3 points, or 0.9%, to 2,798.33 and the Nasdaq Composite added 107 points, or 1.4%, to 7,823.9.

    Amazon jumped 2.4%, while Alphabet was up 2.6%. Apple rose 1.7%, making it worth $951bn - $150bn more than Microsoft, which at one point recently was threatening to overtake the iPhone maker.

  6. BreakingMore Ryanair strikes called

    Ryanair plane

    Ryanair's Irish pilots are planning another two one-day strikes on 20 and 24 July, a spokesman for the IALPA/FORSA union said.

    About 30 of Ryanair's 2,300 flights were cancelled on Thursday as around 100 of the airline's Irish pilots held their first strike.

  7. Presidents Club trustees 'surprised'

    Helen Stephenson, Charity Commission chief executive
    Image caption: Charity Commission chief executive Helen Stephenson

    More on the Charity Commission's report into the Presidents Club.

    Helen Stephenson, the commission's chief executive, said: "The allegations made about the event were entirely at odds with what we would expect from any charity when raising funds for such important causes. Our report should serve as a warning to others that raising funds for charity does not absolve trustees of their legal duties or moral responsibilities."

    However, the Commission admitted that its call for information did not result in anyone coming forward with allegations of harassment or improper behaviour.

    A representative for the trustees said: "We are also surprised at both the report's muted acknowledgement of the fact that not a single complainant has come forward since the FT's article was published, and at the weight of credibility it gives to the FT's reporting of the 2018 dinner.

    "The core issues investigated by the Charity Commission in coming to its conclusions concern perceptions rather than any proven facts. We, as trustees, have never and would never condone the sort of alleged behaviour described in the FT article."

    The trustees said they recognise the findings set out in Charity Commission's report and intend to "comply fully with the regulatory action plan contained in the report".

  8. Facebook plugs privacy loophole

    Facebook logo

    Facebook has had to close a privacy loophole that enabled anyone to discover the names and personal details of users in closed Facebook groups.

    The privacy bug was discovered by Andrea Downing, the moderator of BRCA, a members-only Facebook group for women that have a gene mutation associated with a higher risk breast cancer, CNBC reports.

    Ms Downing discovered that she could use a Chrome browser extension to download the names and personal details of all the members of the group, even though the group was closed.

    The group was listed as closed, but not private, because BRCA wanted other women to be able to find it, and apply to join the group.

    Ms Downing contacted cyber-security researcher Fred Trotter, who discovered that he too could harvest any information he wanted from outside closed Facebook groups, even without the browser extension.

    The pair informed Facebook, which removed the ability to view member lists of closed Facebook groups at the end of June.

  9. Presidents Club trustees censured

    Dorchester Hotel
    Image caption: The Presidents Club event was held at the Dorchester Hotel on Park Lane in central London

    The trustees of the Presidents Club, a controversial black-tie event mired in sexual harassment allegations, have been censured by the Charity Commission.

    A report by the Commission found "significant failures" at the Charitable Trust, and that the trustees were in breach of a number of "key charity law duties".

    It follows a Financial Times investigation in January exposing alleged instances of sexual harassment at the now-defunct club's most recent event at The Dorchester hotel.

    "The trustees failed fully to recognise or address risks to the reputation of the charity - and its purpose of raising money for good causes - arising from holding an all-male event staffed by female-only event staff, who were subject to instructions on their appearance, including that they wear 'smart, sexy shoes'," the report said.

    Hostesses at the dinner, hired by an agency, were allegedly told to wear black underwear and "sexy" black shoes for their shift.

    The regulator added that trustees' failure to put in place "clear or adequate procedures and policies" to deal with harassment or improper behaviour at the event was in "stark contrast" to the measures they took to protect the privacy of the guests.

  10. Trump golf course 'destroyed' dunes

    Donald Trump on his Aberdeenshire golf course

    Donald Trump's north east golf course has "partially destroyed" the specially protected site it was built on.

    That is the conclusion reached in a draft monitoring report by the government watchdog, Scottish Natural Heritage (SNH).

    The findings have been released to the BBC under freedom of information, as the president prepares to visit the UK.

    The assessment dates from 2016 but SNH has delayed a decision on downgrading the site from special status.

  11. BiFab 'effectively closed' claims GMB union

    Workers at a BiFab yard

    The GMB union has described what it called the effective closure of the BiFab yards in Fife and Lewis as a "dark day" for the Scottish economy.

    It comes after further redundancies were confirmed, leaving seven staff being offered part-time positions to oversee maintenance and security.

    New Canadian owners, DF Barnes, said they were working tirelessly to secure new engineering contracts for BiFab.

    Twelve senior managers will be retained, the union has said.

    The company had a core workforce of 400 and a further 1,000 contractors.

  12. 'It’s very disappointing'

    Lloyd's of London chief says the government's Brexit White Paper fails the financial services sector.

    Inga Beale told the BBC the White Paper would see the 300-year old insurance market go "full speed ahead" to set up its subsidiary in Brussels - and spur others on as well.

    Video content

    Video caption: Lloyd's of London chief executive Inga Beale criticises Brexit White Paper
  13. Cambridge Analytica staff set up new firm

    Auspex website

    Former staff from scandal-hit Cambridge Analytica (CA) have set up another data analysis company.

    Auspex International will be "ethically based" and offer "boutique geopolitical consultancy" services, according to its website.

    CA was shut down by its parent company, SCL Elections, which itself faces criminal charges over failure to supply data when requested.

    Auspex will work in the Middle East and Africa initially.

  14. Stolen sensitive drone files sold on dark web

    Tanks in a live fire test

    Sensitive documents about US military drones and manuals describing how to handle insurgents have been offered for sale on the dark web.

    Cyber-security company Recorded Future said some of the data had been stolen from a US Air Force captain's computer.

    The cache includes maintenance guides for MQ-9 Reaper drones and many training manuals for troops deployed outside the US.

    Police are now trying to track down the hacker who stole the files.

  15. Reality Check: What does the Brexit White Paper reveal?

    The new Brexit Secretary Dominic Raab unveiled the White Paper on Thursday
    Image caption: The new Brexit Secretary Dominic Raab unveiled the White Paper on Thursday

    The government has published its long-awaited Brexit White Paper. The document is 104 pages long and follows last week's Chequers agreement which set out the sort of relationship the UK wants with the EU after Brexit.

    The White Paper is split into four chapters: economic partnership, security, cooperation and institutional arrangements. Most of the debate surrounds the first section, the future economic relationship.

    So here are the key excerpts from the chapter on "economic partnership" and what they mean.

  16. Tech stocks hit record highs

    Wall Street traders

    Tech stocks are now hitting record highs.

    Shares in social network Facebook have climbed about 2% to an all-time high of $206.35, while Amazon stocks are up 1.8% to a record $1,785, and Microsoft has climbed 2.2% to a record $104.29.

    Google owner Alphabet has risen 2.3% to $1,198.30, which is not far from its record $1,198.96 on 20 June, while Apple stocks are up 1.7% to $191.09.

    Netflix on the other hand has slid 1.5% to $412.34 following a downgrade from UBS, despite topping all other TV networks for Emmy nominations.

  17. The sacrifice at heart of May’s Brexit deal

    Kamal Ahmed

    Economics editor

    A Jaguar F-Type car
    Image caption: Jaguar makes the F-Type at its Castle Bromwich factory in Birmingham

    It seems the government has made a calculation. If there is no agreement on regulatory alignment on goods, chaos at the ports - and economic damage - could ensue.

    Essential supply chains - such as those used to produce millions of cars - will be disrupted.

    And there will be no solution to the "no hard border" on the island of Ireland. That has to be headed off.

    On services, the risks are less clear. In sectors such as finance, law and legal - Britain is a global leader, the government says.

    As such, its services enjoy high levels of global demand and the government believes Britain can make progress on services trade deals outside the EU,

    Read more from Kamal here.

  18. Norwegian posts surprise profit

    Chris Johnston

    Business reporter, BBC News

    Norwegian plane

    Norwegian Air Shuttle posted a surprise quarterly profit on Thursday, wrong-footing analysts who had expected a big loss as the low-cost airline burns through cash in its drive for growth.

    They had been expecting a net loss of about 428m kroner, but instead it posted a second quarter net profit of 300m kroner (£28m).

    "Despite being at the peak of our growth phase, we have been able to present a profit and decreased unit costs during the second quarter," Norwegian said.

    Revenue rose by almost a third to nearly 10.3bn kroner, a record high, in the second quarter, while costs fell 9%.

    Shares jumped in Oslo following the surprise profit.

  19. London closes slightly ahead

    London Stock Exchange

    London shares have closed slightly ahead, as a rise in financial and consumer stocks offset investor worries over a trade war between the US and China.

    The FTSE 100 ended 59.4 points or 0.8% higher to 7,651.33. Top of the winners was biopharmaceutical firm AstraZeneca, which rose 3.5% to $54.34 following news the firm has teamed up with 4D Molecular Therapeutics to develop lung disease gene therapies.

    The FTSE 250 closed 137.5 points or 0.7% ahead to 20,779.77, led by IT supply chain company Computacenter, which jumped 9.3% to £15.02 after raising its full-year expectations.