10:37 UK time, Wednesday, 11 December 2013
Lloyds put extreme and inappropriate pressure on its staff to sell financial products, but only a few of its customers are out of pocket.
Australia's government is holding talks with Toyota as it looks to convince the firm to continue manufacturing cars there.
Air Canada orders 61 Boeing 737 MAX planes worth $6.5bn (£4.2bn) at list prices, a big win for the planemaker over rival Airbus.
Royal Bank of Scotland is fined $100m by US regulators for violating US sanctions against Iran, Sudan, Burma, and Cuba.
A specialist food crime unit should be set up in the UK in the wake of the horsemeat scandal, a government-commissioned review has recommended.
Labour's former City minister Lord Myners says he will be paid £1 a year for leading a review into the troubled Co-operative Group.
All remaining UK Blockbuster stores are to close within days after administrators were unable to find a buyer.
The first piece of advice visitors are given when they walk through the door of Cirque du Soleil's headquarters in Montreal is: "Don't try this at home." The BBC's Kim Gittleson has been there to find out how the Cirque became a billion dollar business.
On today's Business Daily from the World Service, With Greece's economy projected to finally return to positive growth, Ed Butler visits Athens to hear from those who question whether their country has really turned the corner. Download the podcast here.
More comments on the idea of lifting the ban on using mobile phones in planes. Rosemary Hill says: "The best aspect of flying is freedom from being forced to share the bawled inanities of other people's 'private' phone conversations. People have become enslaved and obsessed by these damned devices. Leave us one tiny corner of our lives untouched by them!"
Private security firms G4S and Serco have been stripped of responsibility for tagging criminals in the UK. It follows allegations they charged the government for tagging people who were either dead or in jail. The monitoring contracts will instead be handed to Capita until the end of the financial year using existing equipment, Justice Secretary Chris Grayling said.
A week after the Autumn Statement, Chancellor George Osborne has announced the date for the next Budget. It will be on 19 March 2014. Put that in your diary.
Shares in Sports Direct are down more than 4% this morning, despite the retailer reporting a rise in first-half profit, and growth in its online sales. One analyst said interest from investors had cooled slightly because: "the rhetoric on current trading is not as bullish as usual".
Our readers really don't like the idea of people using their mobile phones on planes. Jules Stewart says: "Flying may be the most unpleasant way to travel but at least one does not have to endure the mindless yacking of fellow passengers on their mobiles."
We've also had travel and tourism figures from the ONS. Visits to the UK by overseas residents were up 6% in the year to date (i.e. January to October). The amount of money made from visitors to the UK was up 8% in the three months from August to October, compared with the same period last year. The number of overseas visits made by UK residents was up 2% in the year to date.
A reader known only as Alan emails on the subject of in-flight calls: "Please don't , it's bad enough that we can hear someone else's conversations and music without a one sided conversation about something we're not interested in, it's bad enough when the plane lands without it going on the whole flight."
The Office for National Statistics has put out its annual survey of hours and earnings. In April 2013, median gross weekly earnings for full-time employees were £517, up 2.2% on a year ago (the median is what you get if you put all earnings in order and take the middle figure). That's below the annual rate of inflation, which was 2.4% in April.
A government-commissioned review into the horsemeat scandal has just been published. It calls for the creation of a specialist "Food Crime Unit" to be set up, among other recommendations.
Listener Roy Levy is among those appreciative of Robert Peston's delivery on this morning's Today programme. He tweets: "@Peston Love how you insert those dramatic pauses between each letter of HSBC. Couldn't wait for C today as had to go to work."
Reader Glenn Butcher e-mails to say: "Having travelled literally millions of air miles, I am definitely against the use of mobile phones on planes. Can you imagine overnight flights being continually interrupted with conference calls going on for long periods. That is what will happen. If airlines believe this is a good thing then they need to segregate users in an area of the planes which must be sound proofed to other travellers."
Yesterday's fog may have disrupted flights from London airports, but the Metropolitan Police's helicopter still managed to get above the clouds and take this fine photo of Canary Wharf.
The US Federal Communications Commission is due to vote later on whether to lift the ban on airline passengers using their mobile phones above 10,000 feet. Would you like to be able to use your phone in the air or do you think it would be annoying? email firstname.lastname@example.org or tweet @bbcbusiness.
A report from the Institute for Fiscal Studies predicts that public sector pay relative to private sector pay will now return to its pre-crisis level in 2013-14, two years earlier than previously thought. "Squeezes to public sector pay up to 2018-19 will further reduce the public-private pay gap below levels last seen in the early 2000s, when parts of the public sector had difficulties recruiting and retaining staff."
tweets: Intrigued Myners joins Co-op Group board, given anger at Co-op that he said hedge funds could pull plug on Co-op Bank rescue when not true
Reader Nigel Sach from Wirral comments on the BCC raising its UK economic growth forecast: "This speculation of what might happen is akin to crystal ball gazing at a fun fair. The underlying economy is still bumping along firmly on the bottom. We can all talk up the economy - actually making the change permanent is the challenge."
Business editor Robert Peston tells Today that maybe it's time for a complete rethink on banks. Heavily regulated commercial banks will always look for ways to get round the rules, he says. "So perhaps our banks shouldn't be commercial, and be more like utilities, and maybe the notion that it's all about generating profits should be put to one side."
New Co-op board member Lord Myners tells Radio 5 live: "It's got itself into a bit of a bother - it needs to sort itself out. I'm drawn to situations like this and I'm absolutely confident we can sort this out. The underlying business, the customer proposition is absolutely tremendous. I'm doing it because the Co-op matters - it matters to me and it matters to its nine million members."
More on the sausage named after hedge fund manager Crispin Odey. Tatler says it was named after him by a neighbour in Ross-on-Wye where he has a country home. City AM says the sausage is to be found in the Union Market organic grocery store in Fulham, which is run by Mr Odey's friend Tony Bromovsky, and in which he has invested. Apparently it's made from prime Middle White rare breed pork.
tweets: "Telephone numbers that start 080 will be free to call from mobiles. It's part of a range of measures from regulator OFCOM to simplify bills"
Alistair Hodgson from stockbrokers Pilling & Co tells BBC Breakfast that the fines currently being paid out by various banks for various offences are going straight to the Treasury, rather than back to people who have lost out. Recently the money has gone to military charities.
tweets: "Lord Myners: Co-Op got itself into "a bit of bother". #Understatement"
News from the Wall Street Journal's Market Watch site that top executives at Google were sold discounted fuel for their private jets, to which they weren't entitled, by the US government. The report by the inspector general of Nasa said the executives were only allowed the discounted fuel when they were on government business but instead used it for private flights for six years.
The Independent reports on a Supreme Court ruling that Scientology should be treated as a proper religion. That could save it millions in the UK if it is given charitable status, giving it relief on taxes and business rates. The Indie says the business rate bill for its UK headquarters in East Grinstead, Sussex, is more than £107,000.
tweets: Lord Myners tells @bbc5live he will be paid £1 a year at Co-Op; says bank problems are already sorted - "you can put a tick against that"
Lord Myners, who has just been appointed to the board of the Co-operative Group, has been telling Radio 5 live that he will be paid £1 a year for his work. He says the advantage of the mutually-owned group is that it doesn't have: "avaricious shareholders with an open mouth needing to be stuffed full of money".
More from the New York Times coverage of Crispin Odey shorting Manchester United shares: "Mr Odey is well known in London for his brief marriage to Rupert Murdoch's eldest daughter, Prudence, and for having a sausage named after him in Ross-on-Wye. Last year, he became a symbol for excess after he received permission to build a Palladian-style chicken coop at his country home near London. Featuring a staircase for the chickens, the coop prompted tabloids to call it Cluckingham Palace."
Manchester United are looking distinctly mid-table at the moment, and the New York Times has the story that the British hedge fund manager Crispin Odey has taken a $22m (£13m) short position on its New York-listed shares. A short position is a bet on a share price falling, so Mr Odey clearly has little confidence in the club's new management.
Philippe Bodereau from investment firm Pimco tells the Today programme we're still a "long way off" from full, Europe-wide banking union. European finance ministers have been meeting in Brussels and appear to have agreed that bond holders and large depositors should be first hit if a bank fails - taking taxpayers out of the equation.
tweets: Sports Direct Mar-Oct: sales +23%, pre-tax profit +14%. Now in 19 countries, online sales growing fast
The regulator Ofcom has just announced "major changes" to the cost of calling numbers beginning with 08, 09 or 118, used for things like directory enquiries and banking. It wants to make the charges clearer, splitting them into the charge levied by your phone company and the charge from the service provider.
In an attempt to clean up after recent scandals, the Co-operative Group has appointed former city minister Lord Myners to its board. Lord Myners will be a senior independent director and will also be chairing the group's governance review.
This morning's Telegraph says that the government's plans to have a new nuclear power plant built at Hinkley Point could be "delayed or derailed" by an EU investigation into whether illegal state support is being provided. The European Commission is expected to launch an investigation into the deal in the coming days, which could take until summer 2015 to make a ruling.
Aircraft giant Boeing has landed a massive order for its planes. Air Canada has ordered 61 Boeing 737 MAX airliners worth $6.5bn (£4.2bn) to replace its current fleet of Airbus A320s. That's a blow for Airbus - Boeing's only major rival in the industry.
John Longworth, director general of the British Chambers of Commerce (BCC) tells Radio 5 live that its forecasts for economic growth have been revised up for 2013 and 2014 but down for 2015 because "we believe the recovery is actually based primarily on consumer spending and we think personal debt will increase by 2015 so there'll be a tail-off".
Online spending is up 16% according to research from Ofcom. Steph McGovern on Breakfast is talking to personal finance journalist Hannah Maundrell about how to return something that you've bought online. The answer is: stick it in the post. You might have to wait a bit to get your money back though.
IT isn't high enough on the list of priorities for major companies, says Luke Johnson, the serial entrepreneur perhaps best known for his involvement with Pizza Express. He points out that IT executives rarely make it to the level of chief executive. People are reluctant to "put the geeks in charge" as Simon Jack puts it, insisting that "geek" is no longer a pejorative term.
The Financial Times front page has news that former Bank of Israel governor Stanley Fischer could be in line to get the job as Janet Yellen's deputy at the Federal Reserve. Those of you with an economics A-level may remember Mr Fischer as one of the authors of a standard economics text book, along with David Begg and the late Rudi Dornbusch.
The Lloyds fine yesterday is more significant than the RBS one, Hugo Dixon from Reuters suggests. He says the idea of incentivising sales staff is a bigger concern in banking than in industries like retail because the sums of money are greater, and customers typically know less about the products they are buying.
Punch Taverns has responded to the allegations made against it in Parliament by Greg Mulholland MP yesterday. He accused the pub chain of "market manipulation". Andy Slee from Punch Taverns said: "This is the latest in a series of wild accusations from an MP who is intent doing damage to an industry that is on the road to recovery. There is no truth to what Mr Mulholland says."
tweets: Fattest american pigs on record. Big fall in corn prices mean hog weights have risen to record - and pork output in 2014 will soar.
Breakfast's Nick Beake is looking pretty cold in the fog at Heathrow this morning. Forty flights are expected to be cancelled there in the next few hours, following the cancellation of 280 flights yesterday. If you're about to set off for the airport it might be worth contacting your airline first.
Details of a tax on financial transactions are being thrashed out by 11 European countries today, including Germany, France and Spain. Oliver Burrows, a banking analyst from Rabobank, tells World Business Report that it's "fairly unlikely" to be in place before the end of the year, but that there are doubts about its legality under European law.
Not paying rent on time is becoming the fastest-growing debt problem in the UK, according to one charity. The Money Advice Trust says it got nearly 20,000 calls from people in rent arrears in the first nine months of this year.
The BBC's Puneet Singh in Singapore tells World Business Report that the Australian government has good reason to be concerned about the future of Toyota in Australia. 85% of cars sold in Australia are foreign-made, he says, meaning domestic makers are fighting for a small share of the market, which is not enough for sustainable growth in the long term.
We start with Royal Bank of Scotland, which has been fined $100m (£61m) by US regulators for violating US sanctions against Iran, Sudan, Burma, and Cuba. The settlement follows from a 2010 internal investigation by RBS into its historical US dollar payment processes and controls. The violations took place between 2005 and 2009, the US Treasury said.
Morning everyone. Fines for banks, problems paying rent, the future of carmaking in Australia - all that and more to be discussed between now and 13:00 GMT. email us on email@example.com or on Twitter @BBCBusiness.
Good morning. It looks like it's fine-the-banks week, so we'll be keeping an eye on the regulators this morning, as well as all the other business news. Stay with us until lunchtime and do get in touch.
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Last Updated at 05:58 ET
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History mingles with folklore in Denmark's North Atlantic archipelago