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Live Reporting

By Mary-Ann Russon and Simon Read

All times stated are UK

  1. Good night

    Test card

    That's it for today on Business Live.

    We'll be with you at 6am tomorrow morning to bring you all the latest breaking news and analysis from the world of business.

  2. FTSE fallers

    Ferguson workers

    The number of FTSE 100 fallers climbed during the day as the blue-chip index declined.

    The worst performer of the day was plumbing distributor Ferguson which fell 2.12% to 6,740.

    Energy firm SSE slipped 1.53% while Persimmon was down 1.51%.

  3. FTSE winners

    AS we reported earlier engineering conglomerate Halma lead the FTSE 100 winners, after reporting a 12% rise in half-yearly profit to £105.8m.

    Its shares ended the day up 8.45% at 2,059.

    Other winners included Internek Group, which climbed 4.07%, and NMC Health which rose 3.83%.

  4. Pound remains flat

    Pound graph

    The pound has had a fairly downbeat day and is currently at $1.2933 against the dollar, down 0.15%.

    Against the euro it's down 0.21% at €1.1674.

  5. FTSE's up and down day

    FTSE graph

    The FTSE 100 has certainly had an up and down day, as our graph shows.

    It topped 7,400 at around 10.45am before gently declining for the rest of the day until it fell back to near to last night's close.

    It ended the day at 7,323.80, up just 16.10, or 0.22%.

    The wider FTSE 250 index had a similar day, closing at 20,528.48, up 87.98, or 0.43%, despite topping 20,670 earlier.

  6. Man accused of £13m 'Ponzi scheme' fraud

    Fraud sign

    A man has appeared in court charged with defrauding hundreds of investors out of almost £13m in a "Ponzi scheme".

    Alistair Greig, 65, is also accused of moving stolen money out of the UK.

    It is alleged investors - most resident in Scotland, in particular the Aberdeen area - were offered the opportunity to receive high guaranteed interest rates on short-term deposits.

    Mr Greig, who lives in Boston, Lincolnshire, denies all the charges and is due to stand trial next year.

    Read more

  7. Easyjet is 'taking advantage of others misfortune'

    Easyjet plane

    Chris Daly, chief executive of the Chartered Institute of Marketing, is not impressed by EasyJet's relaunch of its package holiday business. He said:

    Quote Message: The airline is taking advantage of the misfortunes of others by moving into the package holiday business, filling the gap left by Thomas Cook. Expect to see a big advertising push that creates an emotional connection with consumers as the carrier tries to sell personalised packages as well as flights. The company has been shrewd in paying £36m for Thomas Cook’s runway slots at Gatwick and Bristol, but can chief executive Johan Lundgren and his team convince customers they are more than just a budget airline?
  8. US department stores slump on Kohl's news

    Kohl's store

    Share in US department store Kohl's have slumped 18% today after it slashed its profit forecast for the year following weak third-quarter earnings despite a much-hyped partnership with Amazon.

    Sales growth for the quarter was just 0.4%, down from 2.5% a year earlier and half that forecast by analysts.

    The news hit rivals with Macy's falling 11% and Nordstrom down 7%.

  9. Dow Jones slips down

    Dow Jones graph

    The Dow Jones has pulled back from earlier record highs.

    It's now at 27,958.37, down 77.85 or 0.28% on the day.

    "That loss seems, in part at least, to stem from the confusion surrounding the trade deal," said Connor Campbell of Spreadex.

    "From a ‘constructive’ phone call on Saturday morning to reports of Chinese pessimism on Monday, with a Huawai ban delay and hopes of Chinese stimulus thrown in to muddy the waters, it is hard to work out exactly where the superpowers stand."

  10. Workers under Labour 'will take back control'

    John McDonnell

    In more political news, the shadow chancellor John McDonnell has said workers and consumers would "take back control" under a new business model if Labour wins the election.

    In a speech in Westminster, he said company boards would include workers and elected members, giving them greater influence over pay structure.

    And public sector chief executives would not be allowed to earn more than 20 times someone on the living wage.

    That would mean a maximum salary of about £350,000.

    The plans were part of an overall vision to create a business model that was not based on the "unfettered pursuit of profit maximisation".

    Read more

  11. Banks' Twitter account hacked

    Arron Banks

    Meanwhile the Twitter account of Arron Banks, the founder of the pro-Brexit campaign Leave.EU, has been suspended after being hacked.

    In a statement posted by the campaign's official account, Mr Banks said "personal data" had since been shared via Twitter.

    He also accused the social network of failing to tackle the issue.

    Mr Banks said Twitter had "deliberately chosen" to leave his personal information online.

  12. Fresh banking problem for Post Office customers

    Post Office card

    On the day the problems that led to the TSB computer fiasco are analysed in a report, we hear there are problems for customers with Post Office credit cards.

    The cards are being rejected in stores and online.

    What's the problem?

    A Post Office spokesperson told the BBC: We are aware that some customers have reported they are unable to make credit card transactions via point-of-sale and online.

    "Some customers are also experiencing some issues when contacting the credit card customer service centre.

    "We are working to rectify this as soon as possible and apologise for any inconvenience caused to customers.

    Have you had difficulties? let us know at bizlivepage@bbc.co.uk

  13. Standard Chartered says it won't renew Prince Andrew sponsorship

    Prince Andrew and Jeffrey Epstein

    Standard Chartered bank will not be renewing its sponsorship of Pitch@Palace, the charity started by Prince Andrew.

    “We can confirm we are not renewing our sponsorship of Pitch@Palace for commercial reasons, once our current agreement terminates in December," the bank said.

    It is understood that the decision not to renew the sponsorship was made before the Newsnight interview at the weekend.

    Sources at the bank insisted that the reasons for the ending of the partnership were down to commercial concerns and were not impacted by recent controversy.

    The fact that Pitch@Palace is a largely UK-focused event while the bank is a more international institution was one of the reasons given for the decision.

    Yesterday it was revealed that KPMG has not renewed its sponsorship of the Duke of York's entrepreneurship initiative.

  14. BreakingWall Street opens at record high

    The main US stock indices have opened the day's trading at record highs, with the Dow Jones at 28,084, up 0.17%.

    The S&P 500 opened at 3,124.55, up 0.081% while the Nasdaq is at 8,572.39, up 0.26%.

  15. Rio Tinto denies Mongolian mine claims

    Mining

    In mining news, Rio Tinto has hit back at claims that the agreements underpinning an $5.3bn underground copper project in the Gobi Desert are illegal.

    “Rio Tinto strongly refutes any suggestion that the underground development and financing plan or any of the foundation Oyu Tolgoi agreements are illegal,” the Ango-Australian oil firm said in a statement.

    The company's shares are up 2.68% at 4,278.

  16. Manchester City posts record £535.2m revenue

    Chelsea's NGolo Kante scores against Manchester City
    Image caption: Chelsea's N'Golo Kante scores against Manchester City

    Manchester City brought in a record £535.2m last season, the club's 2018-19 annual report says.

    It was City's 11th successive year of revenue growth and closes the gap on local rivals Manchester United, the Premier League's richest club.

    The figure is projected to rise again next year given City have already qualified for the knockout stages of the Champions League.

    Payments from a £45m-a-year Puma kit deal will also start to take effect.

  17. FTSE on target for best day this month

    The FTSE 100 is still on target for it's best day this month.

    It's currently at 7,390.20, up 82.50 or 1.13%.

    The wider FTSE 250 is at 20,627.16 is up 186.66, or 0.91%.

  18. Banks 'cannot provide reliable IT services'

    Gareth Shaw, head of money at Which? reckons today's damning report about TSB's IT cock-up is a reminder that banks have consistently let their customers down. He said:

    Quote Message: Our research shows that the banking industry cannot provide consistently reliable IT services, with glitches happening almost every day that can leave countless customers locked out of their accounts, and unable to pay their bills or run a business. If banks want to persuade their customers to move online they must ensure their systems are up to scratch. In the face of widespread bank branch and cashpoint closures it's clear that the next government should intervene with legislation that protects access to cash as a vital backup and for as long as it is needed.
  19. Greens promise net zero carbon emissions by 2030

    Jonathan Bartley
    Image caption: Green Party co-leader Jonathan Bartley

    In today's exciting political news, the Green Party has launched its election manifesto with a pledge to reach net zero carbon emissions in the UK by 2030.

    The party says it would invest £100bn a year by 2030 as part of a "green new deal" to tackle climate change - to be mainly paid for by borrowing.

    The party will also pledge to increase NHS funding, hold a Brexit referendum and extend voting to 16-year-olds.

    The party is standing in 498 out of 573 English and Welsh seats.

    More here