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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. JetBlue is considering trans-Atlantic routes - report
  3. Debenhams warns over profits again
  4. UK economy 'close to stalling' - PMI report
  5. China suspends Tesla customs clearance - report

Live Reporting

By Tom Espiner

All times stated are UK

  1. Good night

    That's all for tonight. Please join us again from 06:00.

  2. Wall Street closes flat

    Wall Street traders

    The main US stock indexes have closed flat on as investors digested positive retailer earnings and economic data.

    Concerns over US-China trade relations also remained as Secretary of State Mike Pompeo said President Donald Trump would reject a trade deal that was not perfect, but the US would still keep working on an agreement.

    The Dow Jones Industrial Average fell 13.02 points to 25,806.63.

    The S&P 500 lost 0.05 points to 2,792.76.

    And the Nasdaq Composite lost 1.21 points to 7,576.36.

  3. Tariff cuts

    China container ship

    Britain would scrap 80% to 90% of tariffs on imported goods if it leaves the EU without a deal but would keep them for sensitive sectors such as cars and some agricultural products, broadcaster Sky News reports.

    Sky News said the government intended to publish details on the tariff cuts if lawmakers reject Prime Minister Theresa May's Brexit deal in a vote due next week.

    The Department for International Trade said in response to the report that no final decision had been made on tariffs, but there had been discussion across government about the right level of tariffs following a no-deal Brexit.

    The UK currently has tariff-free access to European Union markets and it benefits from EU trade deals with other countries.

    But exports will automatically face tariffs if the UK leaves on 29 March without a transition deal.

  4. UK 'would miss out on £10bn in tariffs'

    Pound coins

    How much would it cost the UK in terms of lost tariffs if 90% were cut under a no-deal Brexit?

    Sources have told the BBC that under World Trade Organization terms the UK would expect to take in more than £10bn in tariffs from the EU.

    However, under the scenario where 90% of tariffs are cut, very little of that would be collected.

  5. Government: Priority is securing a deal

    The Department for International Trade has come back on reports that the government could cut 80% to 90% of tariffs in a no deal Brexit.

    A spokesperson said: "Our priority is securing a deal with the European Union as this will avoid disruption to our global trading relationships.

    "If we leave the European Union without an agreement, our tariffs will need to strike a balance between protecting consumers and businesses from possible price rises and avoiding the exposure of sensitive industries to competition. We will make an announcement once a decision is finalised."

  6. A load of rubbish

    US waste

    The market for recyclable materials has collapsed in the US after China restricted imports for recyclables last year, the Atlantic reports.

    So waste that could be recycled is ending up in landfill, or being burnt, the article says.

  7. Brexit: 'UK to cut 90% of tariffs in no-deal'

    Sandcastle

    The government plans to cut 80% to 90% of all tariffs on goods in the event of a no-deal Brexit, Sky News reports.

    This would be a "bombshell" for manufacturers and farmers in the UK, the article says.

  8. Kylie Jenner becomes billionaire

    Kylie Jenner

    American reality TV star Kylie Jenner has become the world's youngest self-made billionaire at the age of 21.

    Her fortune, published in the financial magazine Forbes' billionaires list, is mainly due to her firm Kylie Cosmetics, which she relentlessly promotes on social media to her millions of followers.

    The company, set up three years ago, sold more than $360m of make-up last year.

  9. Papa John's founder to leave board

    John Schnatter

    Papa John's founder John Schnatter is leaving its board of directors as part of a settlement that appears to resolve a bitter dispute for control of the world's third-largest pizza chain.

    The company said it would co-operate with Mr Schnatter to find a mutually acceptable independent director, who would not be affiliated with Mr Schnatter or activist investor Starboard Value, which owns a nearly 10% stake.

    Mr Schnatter, who owns about 30% of the company's shares, would resign from the board if the independent director is appointed before the annual stockholder meeting slated in May, Papa John's said.

    The deal comes after the founder stepped down as chairman last summer, following reports he had used inappropriate language on a media training conference call.

  10. Tesla confirms Model 3 China customs hold-up

    Tesla Model 3

    Tesla has confirmed that some of its Model 3 cars are being held by Chinese customs.

    The firm hopes the Model 3 will drive profitability, and is targeting the Chinese market.

    Tesla said: "This error resulted from misprinted labels on certain Model 3 vehicles.

    "We have already reached a resolution with Chinese customs, and we are working closely with them to resume clearance procedures on these vehicles.

    "Sales of Model 3 in the country are not impacted, and we continue to deliver Model 3 vehicles that have already been processed."

  11. Ghosn: 'I am innocent'

    Carlos Ghosn

    A Japanese court has rejected a last-minute attempt by prosecutors to keep former Nissan Motor Chairman Carlos Ghosn in prison, ruling that he could be released on £6.85m bail after more than 100 days in detention.

    Mr Ghosn said: "I am extremely grateful for my family and friends who have stood by me throughout this terrible ordeal."

    "I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations."

  12. Pound slips

    Sterling v dollar

    Sterling has fallen after Labour shadow chancellor reportedly said few MPs would back Prime Minister Theresa May's Brexit deal.

    The pound has dropped this week, reversing some of last week's gains, as investors turn nervous again about Brexit.

    The pound, mostly flat earlier in the day, dropped 0.6% to a one-week low of $1.3097, before regaining some ground.

  13. US stocks fall

    Wall Street traders

    Investors in US stocks are extending a selloff from the prior session, as investors waited for developments on the US-China trade talks.

    US Secretary of State Mike Pompeo said President Donald Trump will reject any trade deal that is not perfect, but added that the US will still keep working on an agreement.

    The Dow Jones Industrial Average was down 36 points at 25,784, the S&P 500 was down 5 points, or 0.09 percent, at 2,788 and the Nasdaq Composite was up 0.23 points points, or 0.10 percent, at 7,578.

  14. Investindustrial buys Morgan majority stake

    Morgan publicity shot

    Italian private equity firm Investindustrial has bought a majority stake in British car company Morgan for an undisclosed amount.

    "The Morgan family will continue to act as stewards for the brand and retains a minority shareholding," Investindustrial said in a statement.

  15. Ghosn gets bail

    Carlos Ghosn

    Former Nissan boss Carlos Ghosn has been granted bail by a Tokyo court after more than three months detained in a cell.

    Bail has been set at one billion yen (£6.85m).

    Junichiro Hironaka, a lawyer for Mr Ghosn, suggested release on Wednesday was more likely than Tuesday:

    "Even if his bail is confirmed on appeal, we won't be able to gather the bail amount today," Mr Hironaka said.

  16. CMA prepares legal action against Viagogo

    Arctic Monkeys' manager called for Viagogo to be shut down
    Image caption: Last year Arctic Monkeys' manager called for Viagogo to be shut down

    The Competition and Markets Authority (CMA) is preparing to take legal action against ticket resale website Viagogo, saying it has failed to clean up its act after an earlier court order:

    "The CMA has today warned Viagogo it is still not compliant with the court order we secured, requiring improved information be displayed about the tickets listed for resale on its site.

    "Although some improvements have been made since we first demanded action to address areas of non-compliance, further checks have shown there are still issues of concern.

    "For a company not to comply with a court order is clearly very serious. We are therefore now preparing to take legal action to ask a court to find Viagogo in contempt."

    In November a court ordered Viagogo to "overhaul" the way it does business.

    The CMA had launched legal action against the company over concerns it was breaking consumer protection law.