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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Elon Musk wants to take Tesla private
  3. US job openings rose in July
  4. US warns trading partners over Iran
  5. Daimler halts business in Iran
  6. Domino's shares drop on overseas concerns
  7. Kroenke bids to take control of Arsenal
  8. Pound rises on the dollar
  9. Indian ride-sharing firm Ola to launch in UK

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. 21st Century Fox publishes offer document

    Sky

    21st Century Fox has published its offer document containing details of its previously-announced cash offer for pay TV giant Sky.

    The offer document has to be published before Thursday 9 August as part of UK regulatory guidelines.

    It is believed that Fox posted the offer document to buy some time before making a renewed bid for Sky by Thursday, and to remind investors, regulators and Disney of its £14-per-share offer.

    Comcast is still keen to buy Sky, and has offered a bid of £26bn, including £14.75 a share.

  3. Wall Street closes ahead

    Wall Street traders

    Wall Street shares have closed ahead, due to gains in energy, banking and technology stocks, particularly after Elon Musk tweeted that he is considering taking Tesla private.

    The Dow Jones Industrial Average rose 126.73 points, or 0.5%, to 25,628.91, the S&P 500 gained 8.05 points, or 0.28% to 2,858.45 and the Nasdaq Composite added 23.99 points, or 0.31%, to 7,883.66.

  4. Stores and shoppers report UK fan shortage

    Argos website says it has only limited stock of fans

    Stores and shoppers across the UK are reporting a shortage of fans in the midst of unusually hot weather.

    Customers have found fans to be out of stock in branches of major retailers including Tesco, Argos, Sainsbury's and Wilko.

    Some have used social media to vent about the difficulties they've faced buying a fan.

    One London-based shopper said he had to go to seven different stores before he was able to buy one.

  5. A publicity stunt?

    Elon Musk

    BBC reporter Kim Gittleson's take on Elon Musk's move:

    Elon Musk has had a difficult relationship with stock market investors - and been particularly angered by so-called short sellers, who have made record bets on the ultimate collapse of Tesla.

    On Tuesday, those same short sellers were threatened with big losses after he tweeted that he was considering taking the electric car maker off the market and back into private ownership.

    The messages sent the share price surging before trading was halted. But it bears noting that Mr Musk is known both for his erratic outbursts and for his quirky sense of humour.

    Both have been frequently on display as Tesla has struggled to hit production targets. That's briefly left some wondering if this is all just another way of turning attention away from the fact that Tesla has yet to turn a profit.

  6. BreakingElon Musk explains

    Finally Elon Musk has explained all on his blog, saying he thinks going private is "the best path forward".

    But he admits "a final decision has not yet been made".

    "The reason for doing this is all about creating the environment for Tesla to operate best," he says.

    Read the blog in full here

  7. The woes of the lira

    Recep Tayyip Erdogan

    The Turkish lira has had a bad year.

    On Monday, the lira fell about 5.5% against the dollar - its biggest single day drop in nearly 10 years, after the Trump administration said it was reviewing Turkey’s duty free access to US markets.

    If the trade sanctions go ahead, this could affect up to $1.7bn in Turkish exports.

    "The plunge in the currency over the past few weeks is now on a scale which has, in the past, prompted the central bank to hike interest rates aggressively," William Jackson of Capital Economics said in a note to clients.

    "The lira's fall is being amplified by concerns that the central bank will not act to shore up the currency."

    Unfortunately Turkey's president Recep Tayyip Erdogan is an "enemy" of interest rates, and he has been very critical of the Turkish central bank.

    He wants lower borrowing costs to fuel credit growth and economic expansion.

  8. 'Ends negative propaganda from shorts'

    Elon Musk says that he hopes all shareholders will remain with Tesla, and cites a major reason for going private as being a way to deal with short sellers.

    View more on twitter
  9. Fewer EU bankers coming to London

    London city skyline

    Ian McCafferty, a member of the Bank of England's monetary policy committee, says that fewer EU bankers are now coming to work in London.

    "We are getting stories on (how) the numbers of French and German and other European bankers that are coming to London have fallen quite sharply over the last couple of years," McCafferty told LBC radio.

    He said that this was why house prices in London had fallen recently, while they continued to rise outside the capital.

    Mr McCafferty added that increases of 3% a year British house prices overall were more sustainable than bigger increases in previous years.

  10. Potentially the biggest buyout in US history?

    Kim Gittleson

    New York business correspondent

    Tesla car factory

    The BBC has spoken to sources in the hedge fund sector, who say that if Elon Musk is serious, then this could potentially be the biggest buyout in US history.

    At the moment, that record is held by Nabisco, which was sold for about $52bn in 1988 to global investment firm Kohlberg Kravis Roberts and Co (today known as KKR & Co).

    At a price of $420 per share, given that there are 170,593,144 shares outstanding as of 30 July, market value would be $72bn.

    Tesla has around $10bn of debt that would need to be included, giving it a rough deal size of around $82bn.

    Elon Musk owns around 20% of the Tesla shares outstanding.

  11. BreakingTesla shares halted on the Nasdaq

    Nasdaq

    The BBC's New York business correspondent Kim Gittleson has learned that Tesla's shares have been halted on the Nasdaq.

  12. What will happen if Tesla goes private

    Now Elon Musk is sharing details about what will happen if he takes his electric car company Tesla private.

    He says that he will still stay as chief executive, and that shareholders will be given a choice to either sell when the stock price reaches $420, or hold their shares and go private with him.

    View more on twitter
    View more on twitter
  13. Network Rail to create 200 jobs in Scotland

    The Forth Bridge is one of 14,000 structures maintained by Network Rail in Scotland
    Image caption: The Forth Bridge is one of 14,000 structures maintained by Network Rail in Scotland

    Network Rail has announced it is creating 200 jobs across Scotland this summer.

    The jobs will be based in the north east, Highlands, Perthshire, the south west and the central belt.

    Network Rail said it was one of the biggest recruitment drives in its history.

    Posts include administrative, logistics and planning jobs, as well as construction and project management posts and rail operative jobs.

  14. A threat to short sellers

    John Mervin

    New York business editor

    Tesla

    Tesla’s stock price has indeed jumped on this tweet, increasing Mr Musk’s net worth and presumably threatening (more) losses for the Tesla short sellers.

    Of course, that’s not to suggest that he doesn’t really mean it, or that there might not be good reasons to take the company private.

  15. What does Elon Musk's tweet mean?

    Rory Cellan-Jones

    Technology correspondent

    The BBC's technology correspondent Rory Cellan-Jones has tweeted.

    What do you think? Email in your views to bizlivepage@bbc.co.uk

    View more on twitter
  16. BreakingElon Musk wants to take Tesla private

    Elon Musk has responded to news that Saudia Arabia's sovereign wealth fund building a $2bn stake in Tesla.

    He has just tweeted saying he has the funds now to take the electric car company private.

    View more on twitter