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Live Reporting

By Jill Treanor and Simon Read

All times stated are UK

  1. Good night

    BBC test screen

    That's it from Business Live for today.

    But we'll be back bright and early from 06:00 tomorrow.

    Do join us then for all the latest breaking news and analysis.

  2. More disruption for BA flights on Wednesday

    Airplanes

    British Airways flights will continue to be disrupted on Wednesday, despite the end of a 48-hour strike by pilots in a dispute over pay.

    A BA spokesperson said: "We are very sorry for the disruption BALPA’s industrial action has caused our customers. We are doing everything we can to get back to normal and to get our customers to their destinations.

    "The nature of our highly complex, global operation means that it will take some time to get back to a completely normal flight schedule.

    "Due to the union’s strike action, nearly half of our fleet of over 300 aircraft and more than 700 pilots will start the day in the wrong place. In addition, more than 4,000 cabin crew have had disruption to their rosters, and in many cases will be unable to operate again for several days due to legal rest requirements."

  3. Just Eat is Tuesday's biggest loser on the FTSE 100

    Just Eat biker

    Shares in food delivery firm Just Eat fell more than 6% on Tuesday to end the day at 712.60.

    The company was dragged down by weakness in Takeaway.com shares - the two firms announced a planned £8.3bn merger last month.

    Other shares hit in the blue chip index included industrial software firm Aveva, down 5.12%, and accounting software business Sage, down 4.21%.

  4. JD Sports climbs more than 9%

    JD Sports branch

    The market has been pleased by results from JD Sports today, leading to the retailer topping the FTSE 100 winners chart on Tuesday after climbing more than 9% to 690.40.

    Barclays and Lloyds were the next two biggest climbers, rising 5.1% and 4.42% respectively.

    The two big banks admitted they were facing around £3.4bn extra PPI charges between them yesterday.

  5. FTSE ends the day in bouyant fashion

    As predicted earlier, the FTSE 100 has climbed back into positive territory after a fairly rollercoaster day.

    Its closing price was 7,267.95, up 32.14 or 0.44%.

    The FTSE 250 also ended the day positively.

    It closed at 19,711.33, up 32.88 or 0.17%.

  6. Alibaba begins new era as founder departs

    Jack Ma

    Here's on of the biggest business stories from earlier today, in case you missed it.

    Alibaba chairman Jack Ma is stepping down from the e-commerce giant, marking the end of an era for the firm.

    The former English teacher co-founded Alibaba in 1999 and it has become one of the world's biggest internet firms.

    Mr Ma's success and colourful style has made him one of China's most recognisable businessmen.

    Daniel Zhang, Alibaba's chief executive, will replace him as executive chairman.

    Read more.

  7. Cairn Energy shares climb almost 13%

    Cairn worker

    Shares in Cairn Energy are up around 13% today after it said production from its North Sea assets was ahead of expectations.

    The Scottish company moved back into the black as it recovered from significant losses caused by impairments and its investment in mining firm Vedanta last year.

    It made $43.4m (£35m) pre-tax profit for the six months to June.

    Simon Thompson, chief executive of the company, said: "Cairn has seen good progress in the first half of 2019 with the opportunity to develop and deliver multiple catalysts for future growth."

  8. Utilita to take on Eversmart customers

    Oven

    Ofgem has appointed Utilita Energy to take on supplying the 29,000 customers of collapsed supplier Eversmart.

    All outstanding domestic and non-domestic customers’ credit balances, including money owed to both existing and former customers of Eversmart Energy, will be honoured.

    For existing customers, energy supplies will continue as normal as they switch over to Utilita Energy on Wednesday 11 September.

    Eversmart Energy customers with questions should visit Utilita Energy website at www.utilita.co.uk/supply-transfer or call 01962 679 098.

  9. Victoria's Secret chief distances himself from Epstein scandal

    Victoria's Secret branch

    Victoria's Secret boss Les Wexner said today he is “embarrassed” by his relationship with “depraved” money manager Jeffrey Epstein.

    The 82-year-old billionaire was a client of Epstein's for many years.

    Wexner was speaking at L Brands’ investor day in Ohio.

    The chief executive said he had been “taken advantage of” by Epstein and said his behaviour was “abhorrent”.

    It was “something that I’m embarrassed I was even close to,” he added.

  10. Profits soar for Worms firm

    Worms Franchise

    Team17, the games developer behind the Worms franchise, held firm on forecasts for the year after profits rose sharply during the first half of the year.

    The Wakefield-based business saw pre-tax profits jump to £10.4m for the six months to June, from just £31,000 over the same period last year.

    The firm benefited from a mix of new launches and a solid performance from its back catalogue of titles.

    Team17 said it had a "solid selection" of third-party releases planned for the second half of the year and plans to grow the business further by expanding its studio site.

  11. Heathrow Pause protesters face arrest

    Heathrow protesters

    Campaigning group Heathrow Pause plans to to use drones to disrupt flights at the airport on Friday 13 September.

    But protesters were warned today that they face being arrested.

    A Heathrow spokesperson said: “Flying a drone within 5km of Heathrow is illegal and any persons found doing so will be subject to the full force of the law.

    "In order to ensure that our operation remains open and safe, we are working closely with a number of stakeholders including the Police, NATS and CAA to ensure that the UK’s hub airport does not close.

    "We have in place dynamic risk assessment programmes which are carried out by airfield and security experts and at no time will safety be compromised.

    "Alongside drone detection capabilities, we will mitigate the impact of this illegal action and operate in a way that is safe at all times.”

  12. US markets head downwards

    woman watches screen

    The Dow Jones has started Tuesday's trading by heading downwards.

    It's down 0.32%, or 85.97, at 26,749.54 shortly after opening.

    The Nasdaq is down 0.99%, or 80.41, at 8,007.02.

  13. Rollercoaster day for FTSE 100

    FTSE 100 graph

    It's been quite a rollercoaster ride for the FTSE 100 so far today, as our graph shows, although there have been no shocking dips or climbs..

    It's currently in the red - down 0.09% at 7,229.21 - but could yet climb into positive territory.

  14. Electricity system's resilience should be reviewed

    Emma Simpson

    Business correspondent, BBC News

    People walked in complete darkness at Clapham Junction station in London during a power cut
    Image caption: People walked in complete darkness at Clapham Junction station in London during the power cut

    The National Grid says the resilience of the electricity system following last month's blackout should be reviewed.

    It's just published its final report into the power outtage on 9 August, which resulted in a loss of power for more than a million customers as well as causing widespread disruption on the railways.

    Around 60 Govia Thameslink trains were affected by the blackout. Around half had to be restarted by engineers, which caused widespread delays and travel chaos.

    It's now made a number of recommendations including whether the network should have higher levels of resilience.

    It says the list of priority customers should be reviewed to ensure no critical infrastructure or services are inadvertantly placed at risk of disconnection and that the internal protection systems on electric trains should be also be looked into to ensure they can continue to operate through " normal" disturbances on the electricity system.

    The energy regulator, Ofgem, is already looking at whether National Grid should hold more back-up power to prevent any similar blackout in future.

    A Government inquiry is also underway to establish whether future power cuts could be prevented. Its initial report on how National Grid handled the huge blackout could come as early as next week.

  15. Selfridges to open in-store cinema

    Cinema at Selfridges

    Oxford Street shoppers will soon be able to watch the latest movies at Selfridges.

    The retailer plans to open a permanent cinema at its flagship store in November in partnership with Olympic Studios.

    Selfridges managing director Simon Forster described the initiative as “a very exciting yet natural extension to what Selfridges does, which is to provide customers with an extraordinary experience all year round”.

  16. Brexit is a 'head-on train crash'

    Theo Leggett

    BBC International Business Correspondent

    Toy trains

    The chief executive of PSA Group - the company which owns Vauxhall - has compared a no-deal Brexit to a head-on train crash.

    Speaking to reporters at the Frankfurt Motor Show, Cars Tavares said that no-deal was not a scenario he could accept, and that if such a situation were to have serious consequences for the business as a whole, there would be an ethical responsibility to protect employees outside the UK. 'Necessary decisions' would have to be taken over the future of the company's UK plants, he said.

    He castigated politicians on both sides for failing to find a solution. Sending two trains to crash into one another at speed in order to demonstrate their muscles and determination, he said, did not seem to be the best approach.

    In June, PSA Group announced plans to build a new version of the Vauxhall Astra at its Ellesmere Port factory in Cheshire. However, the company made it clear the investment would only take place if a suitable Brexit deal as reached.

    The chief financial officer of BMW, meanwhile, has told the BBC that leaving the EU without a deal could force the company to cut production at its Mini plant in Oxford.

    And Jaguar Land Rover's chief executive, Ralf Speth, warned that if the supply of parts into the UK was disrupted after Brexit, that could prevent production at its UK factories. but he added that he could not comment on the overall effects of no-deal Brexit, because he simply did not have the information he needed.

  17. The decline of print...

    Magazines

    Commenting on the planned closure of the print edition of Marie Claire, TI Media chief executive Marcus Rich said: “For more than three decades, Marie Claire UK has led the conversation on the issues that really matter to women, from campaigning for women’s empowerment to climate change, while providing a premium fashion and beauty positioning that reflects their everyday lives.”

    TI Media, formerly known as Time Inc, operates more than 50 titles in the UK, including Country Life, Woman’s Weekly, World Soccer and Wallpaper.

    In the past two years it has been closing print editions as readers increasingly move online - with gossip mag Now and music title NME among the most famous brands to go online only.

    Is the latest news a sad day for magazines, or just another nail in the inevitable decline of print? Let us know what you think and what former favourite magazines you miss by emailing us at bizlivepage@bbc.co.uk

  18. Marie Claire UK 'to cease' publication

    magazine cover

    The UK edition of Marie Claire is to cease publication after 31 years.

    That's according to the Guardian which says publication will continue online.

    It is owned by TI Media and the Guardian quotes Marcus Rich, the chief executive: “There is enormous potential for us to drive our ongoing transformation through growing our digital business quickly and it will continue to be a key focus for us.”

    Consultation has begun with the approximately 35 members of staff affected by the closure.

  19. Sterling flat

    sterling

    A quick update on sterling.

    Just as the US markets prepare to open, the pound is flat against the dollar at $1.2341.

    The pound had rallied on Monday after the GDP data appeared to quell fears of an imminent recession in the UK.

    Even so, Jane Foley at Rabobank says the market is cautious about the outcome of Brexit.

    "Anxiety is hanging over the markets".