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  1. Get in touch:
  2. US stocks slide on Wall Street
  3. Emirates profits fell almost 70% last year
  4. Harry's razor firm sold for $1.4bn
  5. FTSE and pound trading lower
  6. Superdry warns over profits

Live Reporting

By Jill Treanor and Ben Morris

All times stated are UK

  1. Goodbye

    That's it from the Business Live page for today. Join us again tomorrow morning at 06:00 for all the business news and views that matter.

  2. Float is on for Watches of Switzerland

    rolex watch

    Watches of Switzerland has confirmed its plans to float on the London Stock Exchange.

    Its intention is to sell 25% of the business for £155m and gain entry in to the FTSE indices.

    It has a 35% share of the UK luxury watch market by value of total luxury watch sales in 2018 and accounted for 50% of Rolex's sales in the UK in 2018.

  3. FTSE closes lower

    City trader

    Trading on the London stock market has now closed for the day and the FTSE 100 index ended down 0.87% at 7,207.41.

    The FTSE 250 index closed down 1.26% at 19,285.58.

  4. Debenhams creditors back turnaround plan

    Debenhams store

    Debenhams' creditors have endorsed a turnaround plan that will see the closure of 50 stores and rent reductions for others.

    Landlords, local authorities and others voted to back the proposals made by the retailer's board.

    Debenhams Group Holdings said the plan had been approved by "a majority significantly above the required threshold of 75% on each proposal".

    Terry Duddy, executive chairman of Debenhams, said: “I am grateful to our suppliers, our pension stakeholders and our landlords who have overwhelmingly backed our store restructuring plans. We will continue to work to preserve as many stores and jobs as possible through this process. This is a further important step to give us the platform to deliver a turnaround.”

  5. Water torture?

    Liquid Death

    The can above might look like an obscure European lager, but it's actually Austrian water - it's not even fizzy.

    Liquid Death is marketed at so-called "straight edge" punks and heavy metal fans, who appreciate the rock lifestyle, but not the booze and drugs.

    The idea is that they can sip this water without feeling self-conscious among more hardcore friends.

    A former Netflix executive is behind the brand.

    However, it's caused something of a flutter on Twitter, where it's accused of being environmentally unfriendly and silly.

  6. US goods trade deficit with China narrows

    US container ship

    Amid high-profile trade talks between the US and China, figures released on Thursday show the US's goods trade deficit with China narrowed to a five-year low in March.

    The unadjusted deficit fell to $20.7bn, the lowest level since March 2014, as exports to China jumped 23.6% while imports fell 6.1%.

    US President Donald Trump has threatened to increase tariffs on $200bn worth of Chinese goods from 10% to 25% on Friday.

    The overall US trade deficit increased by 1.5% to $50bn.

  7. Wall Street falls further

    It looks like it could be another tricky day on Wall Street with shares still being hit by worries over the possible escalation of the US-China trade war.

    After opening down, all three major US indexes have sunk further.

    The Dow Jones is down 409.83 points, or 1.6%, at 25,557.50, the S&P 500 index has fallen 34.14 points, or 1.2%, to 2,845.28, while the Nasdaq index is 126 points lower, or 1.6%, at 7,817.31.

  8. Name checks on payments to start next March

    Kevin Peachey

    Personal finance reporter

    Paying by card

    A system making a recipient's name as important as the bank account number and sort code when payments are made should begin by the end of March next year.

    The Confirmation of Payee system means anyone making a payment will be alerted if the name does not match the account.

    It is designed to prevent millions of pounds worth of fraud, but its introduction has been delayed.

    It was supposed to be in place by July this year, but now the Payment Systems Regulator has proposed that the six biggest banking groups ensure it has started by 31 March.

    The six - Lloyds Group, Barclays Group, HSBC Group, Royal Bank of Scotland Group, Santander Group, and Nationwide Building Society - account for 90% of bank transfers.

    At present, only an account number and sort code need to match for a payment to be successful.

  9. Half the world's biggest airlines don't offer carbon offsetting

    Planes at an airport

    Less than half of the world's major airlines are giving passengers the opportunity to offset the carbon dioxide produced from their flights, BBC research has found.

    When airlines do offer such a scheme, generally fewer than 1% of flyers are choosing to spend more.

    Carbon offsetting enables passengers to balance out their carbon footprint by paying towards environmental projects.

    Aviation accounts for 2% of global human-induced greenhouse gas emissions.

    Read more here.

  10. Tapestry shares jump


    Shares in Tapestry - owner of Kate Spade and Coach - have jumped more than 10% after its quarterly results were better than expected and it announced a $1bn share buyback programme.

    Victor Luis, chief executive, said he was pleased with the third quarter performance which showed that net sales were $1.33bn verses $1.32bn in the prior year.

    Net income for the quarter fell to $117m from $140m last year.

  11. US stocks open lower

    NYSE traders

    Trading is under way on Wall Street, and shares have fallen again as investors keep their eyes on the trade talks between the US and China.

    In early trade the Dow Jones fell 88.48 points to 25,878.85.

    The S&P 500 dropped 19.58 points to 2,859.84, while the Nasdaq is down 90.11 points at 7,853.21.

  12. PSA denies it is poised for JLR deal

    Jaguar Land Rover car

    French car group PSA - whose brands include Peugeot, Citroën, Opel and Vauxhall - has denied reports that it is close to buying Jaguar Land Rover.

    Responding to the report, PSA said: "We deny this information.

    "Groupe PSA is not in a hurry for any acquisition and can stand alone. We are generating the cashflow necessary to pay for our future."

    However, the company added: "If an opportunity comes, like Opel-Vauxhall, we will consider it."

  13. Chevron abandons pursuit of Anadarko

    chevron logo

    Chevron had been aiming to buy Anadarko for $32bn but has walked away after a rival bidder Occidental trumped its price.

    "Winning in any environment doesn’t mean winning at any cost. Cost and capital discipline always matter, and we will not dilute our returns or erode value for our shareholders for the sake of doing a deal,” said Mike Wirth, Chevron's chief executive.

    Anadarko is considered attractive for its exposure to shale fields.

  14. What should happen if an airline fails?

    You might remember that back in 2017 the airline Monarch collapsed.

    Around 85,000 holidaymakers were repatriated, costing £60m.

    After that the government ordered a review to see if there was a better way of handling the collapse of a carrier.

    Travel expert Simon Calder has read the report.

    View more on twitter
  15. RBS says takes fair and inclusive approach

    RBS Logo

    RBS has responded to the pay claim brought by Ms Williams.

    A spokesperson said: “We take a fair and inclusive approach to setting pay and career progression and do not pay our colleagues differently for doing the same job because of their gender.

    "In this particular case, although we don’t agree with everything Ms Williams says and we don’t agree that any difference in pay was due to Ms Williams’ gender, we don’t think we got things right in certain areas and therefore have agreed a settlement to resolve the matter.”

  16. RBS equal pay claims case

    RBS cash machines

    Union Unite says Royal Bank of Scotland could face more equal pay claims after a female support analyst at NatWest Markets secured a £150,000 pay out.

    According to the union, which supported her claim, after a seven year period at the bank she was receiving pay and benefits worth £31,610 less per year for doing the same job as her male counterpart.

    According to the union's website, her name is Lucy Williams and she raised an official grievance in June two years ago and was made redundant five months later.

    The union said the case was settled before going to a tribunal.

    RBS said it took a "fair and inclusive approach" to pay.

  17. Pound update

    pound v dollar chart

    The pound has slipped through $1.30 amid on-going uncertainty about Brexit.

  18. Harry's sold for $1.4bn


    If you haven't heard of Harry's, it sells shaving products directly to consumers.

    It was only set up in 2013 and today announced its sale to Edgewell Personal Care for $1.37bn in cash and stock.

    Edgewell owns the Schick and Wilkinson Sword razor brands.

    "Harry's has been a disruptive force across the men's and women's shaving market and adjacent grooming and personal care categories," Edgewell said in a statement.

    "The combined company will have a leading portfolio of global brands in men's and women's shaving, personal and sun and skin care," it said.

  19. Travel and airfreight slowdown hits Emirates

    Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of the state-owned airline, said: “2018-19 has been tough, and our performance was not as strong as we would have liked.

    "Higher oil prices and the strengthened US dollar eroded our earnings, even as competition intensified in our key markets. The uptick in global airfreight demand from the previous year appears to have gone into reverse gear, and we also saw travel demand weaken, particularly in our region, impacting both [airport services handler] dnata and Emirates".