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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Hammond appears before MPs
  3. UK services sector slows
  4. FTSE 100 ends higher
  5. Oil price down as US Iran sanctions come into force
  6. Brittany Ferries warns on Brexit
  7. US markets mixed
  8. WOW merges with Icelandair

Live Reporting

By Jill Treanor

All times stated are UK

  1. Good night

    Thanks for tuning in. We'll be back at 6am tomorrow, hope to see you then.

  2. Tilbury on hold

    Chimneys

    Development of the Tilbury Energy Centre by Germany's RWE has been frozen.

    The company said: "This decision was made based on current market conditions and project costs. As with any development project, options are continuously evaluated and only progressed if they become economically viable".

    There were plans for a 2.5 gigawatt gas plan

  3. Mixed finish for Wall Street

    Trader

    It was a mixed finish for US stocks on Monday, the eve of the midterm elections.

    The Dow Jones index gained 0.7% to 25,461.70 points while the S&P 500 closed up 0.6% at 2,738.31.

    But the tech focused Nasdaq fell 0.45% to 7,328.85.

  4. Bank branches to disappear by 2041

    Cash machines

    A card payment systems comparison site has predicted that cash machines and bank branches will only be around for another couple of decades or so in the UK.

    Expert Market looked at the average year-on-year fall in both and used the data to project their disappearance.

    It reckons ATMs will close at the rate of 2,600 a year and will have gone by 2037.

    Bank branches will disappear soon after, with the last closing in 2041, it predicts.

  5. Ryanair fees to stay

    Ryainair check in

    More on the Ryanair IT update.

    The airline has urged customers to check in before the systems upgrade which is taking place between 17:00 UK time on Wednesday to 05:00 on Thursday.

    The BBC's story says that Ryanair's policy is to charge passengers an extra £55 if they need to check in at an airport, and the airline says all fees will stay in force.

    The carrier's online check-in facility is only open between 48 hours and two hours before a flight for passengers who have not paid extra to select a seat.

  6. New processes and security: two reasons to delay a holiday

    Dubrovnik port

    Earlier, we asked for whether Brexit uncertainty was delaying your travel plans.

    Reader Josh Potter says Brexit uncertainty is making him delay his travel plans for two main reasons:

    1. "Job security: we are already seeing the UK economy begin to slow and my particular role is sensitive to economic slow-down. Therefore spending on holidays at these exchange rates seems to be at odds with saving and securing my financial stability.
    2. "Airport and port delays: travel is stressful enough so why would you travel in the three months after March 31 with all the new processes to battle through?"

    Interesting question. What do you think?

  7. Worker troubles at Tesla?

    A Tesla factory in 2012

    The health clinic at Tesla's manufacturing plant has "failed to properly care for seriously hurt workers", according to Reveal and the The Center for Investigative Reporting.

    The investigation finds that Tesla pressured staffers at the clinic to avoid taking steps - like calling 911 or prescribing ongoing stretches - that might boost its count of worker injuries.

    The report comes after chief executive Elon Musk touted the electric car company's low injury rate and health practices on the firm's call with financial analysts last month.

  8. 'Forensic investigation' into Yu Energy

    Magnifying glass and papers

    Gas and electricity supplier Yu Group has appointed PwC and DLA Piper to examine its books after the firm uncovered accounting irregularities.

    The firm said the duo will conduct an independent "forensic investigation" into Yu's accounts.

    Yu's shares crashed 80% in October when it warned it faced a £10m profit hit after discovering areas of concern in a performance review.

    It said that problems with the way historic accrued income is recognised and higher-than-expected non-payments from trade debtors will push it to an annual loss.

  9. Gold tie-up nears

    digger

    Canada's Barrick Gold has moved a step closer to its tie up with Randgold Resources.

    The deal is expected to create the world's biggest gold miner.

    Barrick shareholders have voted through the transaction. Randgold's vote on the deal on Wednesday.

    Chairman of Barrick, John Thornton, indicated that mines are likely to be sold and jobs cut.

    In a year's time "Ideally, we will have sold certain assets that don't fit ... that's number one", he said.

    "Number two, we will be demonstrably more efficient."

  10. Amazon's decision day draws near

    Amazon CEO Jeff Bezos

    Amazon could announce the location - or locations - of its next major campus within the week, the Wall Street Journal reports.

    The e-commerce giant, which announced its search for an "HQ2" in 2017, had said it would reveal its decision by the end of the year.

    The location is expected to receive some 50,000 jobs and billions in investment.

    It's a prize that set officials scrambling to woo the firm with tax breaks and other incentives, while spurring fierce debates about gentrification.

    Now the Journal says the company could divvy up the riches of "HQ2" between two cities, which would lower the stakes a bit.

    Amazon announced 20 finalists earlier this year. Recent reports suggest places near Washington DC are among the front runners.

  11. More from Dundee

    John Reid, the factory manager at Michelin Dundee, said the closure of the factory was "personal blow".

    He added that the decision was not due to Brexit.

    “I understand that these proposals will come as a huge blow to our employees and to the city of Dundee as a whole.

    "This factory has faced incredibly tough challenges before and we have come through thanks to the hard work and flexibility of our people and the union, and the backing of the Michelin Group. However, the market for the smaller tyres we make has changed dramatically and permanently, and the company has to address these structural changes.

    “The proposals are nothing to do with the UK’s decision to leave the EU, and they are absolutely not a reflection of the performance of the plant or the people who have worked so hard here for so many years.

  12. Dundee tyre factor to close

    Michelin factory

    Michelin has announced it is shutting its Dundee factory, which employs 845 people, in 2020.

    The factory was opened in 1971 and makes 16 inch tyres - and smaller - for cars.

    The company blamed a structural decline in demand for the tyres and a shift towards low-cost products from Asia.

    The union Unite warned earlier that that the closure of the factory in Dundee would be a "hammer-blow.

  13. Italy 'seeking compromise'

    italy

    Italy is seeking a compromise deal with the European Commission over its budget, the Finance Minister Giovanni Tria has said.

    Reuters is reporting he told a monthly meeting of euro zone ministers that he was working on a solution to the budget which increases borrowing more than Brussels would like.

    The official said it was premature at this stage to say whether Italy would change its budget.

    Italy has until November 13 to redraft the budget or risk penalties from the EU.

  14. Oil prices slip

    So oil prices are falling now as the market digests the comments by Donald Trump.

    They were heading for a 1% rise on the day but are now falling back.

  15. Hammond denies abandoning goal of eliminating UK deficit

    Philip Hammond

    Philip Hammond's evidence to MPs is over now.

    The chancellor has rejected suggestions he has abandoned a target to eliminate the budget deficit by the middle of the next decade.

    Questions over Philip Hammond's commitment to the target were raised after his Budget last week which promised a big increase in spending.

    But he told the Treasury Committee on Monday that the target, set in autumn 2016, "hasn't been abandoned".

    There would, though, be a "balanced approach" to cutting the deficit.

    Read the full story.

  16. Oil prices rise

    Oil prices are up as the US imposes sanctions on Iran.

    Brent crude oil futures are up nearly 0.8% to $73.41 a barrel.

  17. Trump on oil

    oil

    Donald Trump has been speaking after imposing sanctions on Iran.

    "With the oil, it's very interesting. We have the toughest sanctions ever imposed, but on oil we want to go a little bit slower because I don't want to drive (up) the oil prices in the world".

    "This has nothing to do with Iran ... I could get the Iran oil down to zero immediately but it would cause a shock to the market. I don't want to lift oil prices."

  18. Money in no deal Brexit

    Even if there is a no deal Brexit, the UK will still have to make payments to Brussels, the Chancellor has told MPs on the Treasury Committee.

    The UK has agreed a formula with the EU about payments post-Brexit, Mr Hammond said, but that this was on the assumption there would be a deal.

    If there was not a deal that might change but it was "not plausible" that if there was not a deal no money would be paid.

    But, he said, that the EU would rather not receive a payment in a lump sum so this could be a point of leverage in negotiations.