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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Coca Cola has announced its planned purchase of coffee chain Costa
  3. UK house prices fall in August
  4. Homebase creditors vote on a turnaround plan
  5. Trump has threatened to pull the US out of the WTO
  6. Canada is in a final day of talks over a new Nafta agreement

Live Reporting

By Tom Espiner

All times stated are UK

  1. Good night

    BBC Testcard

    That's it for this week on Business Live - thanks for reading. We'll be back bright and early at 6am on Monday.

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

  2. Wall Street ends lower

    Wall Street trader

    US stock indexes have closed lower as as jitters over ongoing trade talks between the United States and other major economies weighed, but gains in Apple and Amazon kept Nasdaq slightly higher.

    The Dow Jones Industrial Average ended down 22.1 points to 25,964.82, the S&P 500 was flat - just 0.3 points ahead to 2,901.42 and the Nasdaq Composite was up 21.2 points higher to 8,109.54.

  3. Breaking'The talks were constructive, and we made progress'

    Jared Kushner, White House Senior Advisor,  arrives for trade talks at the office of the US Trade Representative
    Image caption: Jared Kushner, White House Senior Advisor, arrives for trade talks at the office of the US Trade Representative

    US Trade Representative Robert Lighthizer has issued a statement regarding the status of trade negotiations with Mexico and Canada.

    “Today the President notified the Congress of his intent to sign a trade agreement with Mexico – and Canada, if it is willing – 90 days from now. The agreement is the most advanced and high-standard trade agreement in the world," he said.

    "Over the next few weeks, Congress and cleared advisors from civil society and the private sector will be able to examine the agreement. They will find it has huge benefits for our workers, farmers, ranchers, and businesses.

    “We have also been negotiating with Canada throughout this year-long process. This week those meetings continued at all levels. The talks were constructive, and we made progress. Our officials are continuing to work toward agreement. The USTR team will meet with Minister Freeland and her colleagues Wednesday of next week.”

  4. BreakingUS-Canada talks halt

    The White House is now holding a background briefing with the media on trade, and so talks between the US and Canada have halted.

    CNBC says that although some media vehicles, including the Wall Street Journal, are reporting that talks have ended for the day with no resolution reached, the White House claims this is not true - the talks have only been halted temporarily for the press conference, and will continue after it is concluded.

    Today is the deadline for Canada to join a preliminary revised Nafta agreement that has been reached by the US and Mexico.

  5. In his own words

    James Quincey chief executive of Coca Cola

    If you want to hear Coca Cola's own justification for the £3.9bn deal to buy Costa, chief executive James Quincey he has set out his rationale in a video.

    "It’s because coffee helps us get into hot beverages. Coffee is one of the fastest-growing beverage categories in the world, at 6%. It’s also a category with many different elements, from vending to coffee shops to roast-and-ground to instant to pods and capsules.

    "In short, coffee is a big business with many formats. It’s also a remarkably fragmented business. No single company in the world has a strong foothold across all parts of coffee. And that includes Coca-Cola.

    "We have great brands like our ready-to-drink Georgia coffee lineup in Japan, but Coca-Cola doesn’t have a broad, global portfolio in this growing category."

  6. US accuses China of LinkedIn spy campaign

    Shady character

    US top spy catcher William Evanina has said Chinese espionage agencies are using fake LinkedIn accounts to try to recruit Americans with access to government and commercial secrets, and the company should shut them down.

    William Evanina, the US counter-intelligence chief, told Reuters that intelligence and law enforcement officials have told LinkedIn, owned by Microsoft, about China's "super aggressive" efforts on the site.

    He said the Chinese campaign includes contacting thousands of LinkedIn members at a time, but he declined to say how many fake accounts US intelligence had discovered, how many Americans may have been contacted and how much success China has had in the recruitment drive.

  7. Japan studying restrictions on China's Huawei and ZTE

    People walking past a Huawei store in Beijing on August 6, 2018

    Japan is considering restrictions on Chinese telecom firms Huawei and ZTE amid fears of cyberspying by Beijing, according to the Wall Street Journal.

    Officials said they have started studying whether there is a need for tighter regulations to reduce risk of infiltration through imported equipment, including those made by Chinese companies, according to the newspaper.

    The Australian government last week banned Huawei and ZTE from providing 5G technology for the country's wireless networks reportedly because of national security concerns.

    In 2012, the US House Intelligence Committee warned that both ZTE and Huawei posed a security threat.

  8. Mining group Vedanta appoints new boss

    Mining group Vedanta has appointed Srinivasan Venkatakrishnan as chief executive.

    The mining firm was in the news in May after John McDonnell called for it to be delisted from the London Stock Exchange.

    This was after 13 people were killed by police in protests outside the firm's southern Indian copper smelter.

    Residents had said the smelter is causing environmental damage.

  9. Nafta talks 'turn tense'

    Trump

    Talks between Canada and the US on renegotiating the North American Free Trade Agreement soured sharply after President Donald Trump reportedly said a pact would be on US terms.

    Mr Trump said in off-the-record remarks to Bloomberg News this week that any trade deal with Canada would be "totally on our terms," the Toronto Star reported on Friday.

    Canadian stocks turned lower following the Toronto Star report, dropping to a two-week low, and the Canadian dollar weakened.

    On the record, Mr Trump told Bloomberg in the interview that a deal was "close" and that it could happen on Friday, the deadline he set to allow outgoing Mexican President Enrique Pena Nieto to sign it before he leaves office at the end of November. Under US law, Mr Trump must wait 90 days before signing the pact.

    But on Friday Canadian Foreign Minister Chrystia Freeland said her team is "not there yet" in resolving still big differences.

    "We're looking for a good deal, not just any deal. And we'll only agree to a deal that is a good deal for Canada," Freeland told reporters.

  10. Black Panther strikes

    The FT's Anna Nicolaou has been taking a look at the resurgence of cinema attendance in the box office this year, helping Disney to claim an ever-bigger slice of the market.

    View more on twitter
  11. Founder sues Papa John's board to stop 'irreparable harm'

    Papa John's pizza boxes

    The founder and largest shareholder of Papa John's is suing the pizza chain's board and chief executive to stop what he described as "the irreparable harm" they are causing the company, according to a court filing.

    John Schnatter has been in an escalating battle with the company's board since he stepped down as chairman in July after he said reports that he used a racial slur during a media training call were true.

    Mr Schnatter is suing the board and chief executive Steve Ritchie "to stop the irreparable harm those individuals are causing due to their repeated, and ongoing, breaches of the duties of loyalty and care they owe to the company," according to a statement from Mr Schnatter.

    Papa John's did not immediately respond to a request for comment. The lawsuit filed was under seal in Delaware's Court of Chancery, and Schnatter asked the court to expedite the case.

    On Thursday, the company criticised Mr Schnatter publicly for attending a meeting in July about a potential deal with hamburger chain Wendy's without Mr Ritchie present, as the board had instructed.

  12. 'Abolish daylight saving'

    Alarm clock

    Business Live page readers have been responding to the European Commission proposing to end daylight saving time.

    Gareth Roberts writes: "Absolutely! Abolish it!!

    "Gone are the nights of myself and half the country checking their alarm several times the following morning, then waking on the hour – every hour – for fear of sleeping in.

    "Complete waste of time."

    Get in touch with your thoughts at bizlivepage@bbc.co.uk.

  13. Ford scraps plan to sell Chinese-made vehicle in the US

    Ford has abruptly dropped a plan to sell a Chinese-made car in the US because of the prospect of higher US tariffs, the head of the carmaker's North American operations Kumar Galhotra has said.

    Ford's decision to drop the Focus Active came as US President Donald Trump is escalating a trade battle with China, threatening to impose duties on another $200bn in Chinese goods.

    The Trump administration has already imposed duties on Chinese-made vehicles of up to 25%. Mr Trump is separately looking into a proposal to impose tariffs on all imported vehicles on national security grounds.

    Ford's move will not cost jobs or have a significant impact on US sales, Mr Galhotra said.

  14. Detailed Brexit talks on Irish backstop

    Irish border

    Michel Barnier says talks are looking at the "minutiae" of a border backstop arrangement.

  15. 'Wonga completely screwed me over'

    Video content

    Video caption: 'Wonga completely screwed me over'

    Stacey in south London saw a £600 Wonga loan balloon into £5,000 after missing payments.

    "They completely screwed me over. I was very vulnerable at the time," she tells BBC personal finance correspondent Simon Gompertz.

  16. IMF 'confident Argentina can overcome difficulties'

    Mauricio Macri

    IMF chief spokesman Gerry Rice has this to say about Argentina after the country asked for the early release of a $50bn (£37.2bn) loan from the IMF amid a growing economic crisis.

    "Argentina has the full support of the Fund and we are confident that the strong commitment and determination of the Argentine authorities will help the country overcome the current difficulties," he said.

    IMF managing director Christine Lagarde will have a meeting with Argentine Finance Minister Nicolás Dujovne on Tuesday next week.

    Daniel Gallas, the BBC's South America business correspondent, says the Central Bank is using currency auctions to support the peso.

    A policy package marked by further government spending cuts is expected to be announced on Monday.

    Many businesses and transactions have closed on Friday, a sort of “mini-holiday”, Daniel says, as everyone is waiting for the Monday announcement.

    He adds that newspapers are speculating that Argentina will announce a budged deficit target of around 0.5% - which is a lot stricter than the 1.3% agreed with the IMF.

    There is also plenty of speculation as to whether Argentine President Mauricio Macri (pictured) will reshuffle his economic team, Daniel says, as many are criticising the government’s communication during the crisis.