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  1. Get in touch:
  2. G20 leaders meet in Hamburg
  3. US firms add 222,000 jobs in June
  4. Deliveroo wants to give staff benefits
  5. Tesla to build giant battery system

Live Reporting

By Dearbail Jordan

All times stated are UK

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Good night

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It's the end of the day for Business Live and the end of the working week for most of us.

Thank you for logging on. Hope to have you back with us here from 6.00am on Monday morning.

Until then, have a great weekend.

US markets close higher

The Dow Jones Industrial Average ended Friday up 93.07 points at 21,413.11.

The S&P 500 finished 15.37 points higher at 2,425.12.

The Nasdaq closed 63.61 points ahead at 6,153.08.

Petya victims given hope by researchers

Computer screeen

A security firm says it has managed to decrypt files damaged by the recent Petya ransomware attack, on one infected computer.

The cyber-attack caused havoc for businesses around the globe, but mainly in Ukraine.

The potential solution only works if the ransomware secured administration privileges to the machine.

Read the full story here.

'One more rate rise' for the US

The stronger US employment figures for June won't wrong foot the US Federal Reserve, reckons Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute.

He says: "There is certainly no reason given the data we saw this morning to knock the Fed off the track of probably one more raise this year and maybe an announcement in September about reducing the bond purchase."

Total boss 'hopes UK stays in the EU'

Total's chief executive Patrick Pouyanne
Getty Images

The boss of oil giant Total is hoping that the UK will not leave the European Union.

Patrick Pouyanne told Reuters at the G20 summit in Hamburg: "I still hope that Britain remains in the European Union," adding: "Maybe what will happen under the initiative of Emmanuel Macron and (Angela) Merkel will pave the way for a new future for Britain."

He said: "What's not good for Britain is that we're in a period of uncertainty. Investors don't like uncertainty."

Watch: drinking out of a jumbo jet

What do you get when you scrap a jumbo jet? Quite a lot actually.

BBC transport correspondent Richard Westcott reports.

Why are jumbo jets being turned into beer cans?

'Relentless supply' of oil weighs on prices

Oil prices have regained a little ground...but not much.

Brent crude is now 2.9% lower at $46.73 a barrel. West Texas Intermediate is off 2.8% at $44.24 a barrel.

"The stream of relentless supply continues," said Matt Smith, director of commodity research at Clipperdata.

He Added: "We've seen exports last month from OPEC much stronger than they were in April and May, seemingly indifferent to the OPEC production cut deal."

Putin meets Trump

The US and Russian leaders say they want to repair ties during a tense G20 summit in Hamburg.

Read more

Hammond backs 'transitional' Brexit deal

Philip Hammond
Getty Images

Philip Hammond says the UK should negotiate a transitional Brexit deal which mirrors the current EU relationship in order to minimise the shock to business.

Speaking at the G20 summit in Hamburg, the Chancellor told Reuters that he welcomed discussions between the Government and the business community which took place at Chevening House in Kent on Friday.

"I'm glad that the business community is exercising a voice in this discussion. I think that is helpful," he said, adding: "I do not believe it is either legally or politically possible to say in the customs union and in the single market.".

Hammond said his preference was for the UK to negotiate a "transitional structure" that takes it out of the single market and customs union "but in the transition phase replicates as much as possible of the existing arrangements".

Stock markets extend rise on jobs data

US stock market trader
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Better-than-expected US employment numbers have given stock markets a boost on Friday.

Ryan Detrick, senior market strategist at LPL Financial, said: "We're looking at now four of first six months of the year with 200,000 jobs or more and this is a nice solid report, so we can look forward to earnings season coming up."

He points out: "The one potential slight concern was the average wages didn't raise quite so much as some of those early estimates. But that falls in with some of the inflation data we've been seeing."

The Dow Jones Industrial Average is now ahead 94.44 points at 21,414.48.

The S&P 500 is up 16.01 points at 2,425.76.

The Nasdaq is forging ahead, rising 68.60 points to 6,158.06.

A demonstrator holds her hands up as she faces policemen during a protest on July 7, 2017 in Hamburg, northern Germany, where leaders of the world"s top economies gather for a G20 summit

Pictures of protesters clashing with police have gone out across the world - but what do they want?

Read more

EU 'will react' against a US steel tariff rise

Jean-Claude Juncker
Getty Images

The European Union says it will respond if the US imposes punitive tariffs on steel.

Speaking at the G20 summit in Hamburg, Reuters reports that Jean-Claude Juncker, president of the European Commission, said: "Should the US introduce tariffs on European steel imports, Europe is ready to react immediately and adequately."

A spokeswoman for the EC said: "We should rather have a talk about the overcapacity in steel than about protectionist measures against steel imports from other parts of the world."

Watch: when you forget your glasses on live TV

Fox host suspended following sexual harassment claim

Making Money host Charles Payne
Making Money host Charles Payne strongly denies says the allegation

A Fox Business Network presenter has been suspended amid reports of a sexual harassment allegation - the latest such claim to hit the cable giant.

An analyst says the channel sidelined her after she ended an extramarital affair with Making Money host Charles Payne, the Los Angeles Times reports.

Mr Payne said on Twitter the story is "an ugly lie I vehemently deny to my core".

Read the full story here.

Small businesses 'top priority' in Brexit

Commenting on the Government’s Brexit business meeting at Chevening in Kent, Martin McTague, policy director of the Federation of Small Businesses said ministers "seemed in listening mode".

He said: "They made clear at the meeting, which included a number of big business leaders, that the needs of SMEs would be top of the priority list when looking at our future outside of the EU.

"There was strong recognition from ministers that small businesses would be the least able to cope with trade barriers, both in terms of tariffs and bureaucracy. And I was heartened by the recognition of the benefits of free trade, and a clear moral drive that our future success will rest upon it.”

Positive finish for FTSE 100

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The FTSE 100 has ended Friday up 6.15 points at 7,343.43.

Airline easyJet led the risers, after its share price rose 5.1% to £14.16. Royal Mail was the biggest faller, down 3.3% at 410.3p.

The FTSE 250 finished 3.71 points up at 19,372.77.

Sterling fails to regain ground on dollar or euro

The pound is now trading 0.66% down against the dollar at $1.2885. This is how sterling has performed against the greenback today.

Pound v dollar

Sterling is also lower against the euro, down 0.38% at 1.13080 euros. Here is how those currencies traded today.

Sterling v euro

Listen: PR firm apologises for controversial SA campaign

Oversupply sends oil prices down

Oil rig
Getty Images

After Thursday's rise, oil prices are heading south again.

On Friday, the price of Brent crude dropped by 3.4% to $46.47 a barrel.

West Texas Intermediate also fell by 3.4% to $43.99 a barrel.

Frank Schallenberger, head of commodity research at LBBW, says: "Bearish news from the supply side has dragged prices down. The spotlight seems to be on the problem of oversupply once again."

Donald Trump and Vladimir Putin hold first official talks
The US and Russian presidents were at the G20 summit in Hamburg.

The holy grail of healthy eating?

US stock markets hold gains

Stock market trader
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The Dow Jones Industrial Average has marginally trimmed earlier gains and is up 49.69 points at 21,369.73.

The S&P 500, however, is higher at 2,418 after rising 8.25 points.

The Nasdaq is up 38.95 points at 6,128.41.

Hold your horsepower - Tesla shares rebound

No sooner than Business Live writes that Tesla's shares have fallen, they are now trading up!

The electric car maker's stock is ahead 1.99% at $314.99.

We will be keeping an eye on this volatile stock on Friday.

Tesla shares slide

Tesla's Model S car
Getty Images
Tesla's Model S car

Shares in the US electric car maker Tesla continued to fall on Friday.

Investors off-loaded stock in the company after its Model S car failed to gain the top rating in one key road safety test by the Insurance Institute for Highway Safety.

Its shares are down 2.47%.

Still, its billionaire founder Elon Musk is upbeat and Tesla announced that it will join French energy company Neoen to build the world's largest lithium ion battery in South Australia.

Greece to receive bailout funds

Greece will finally receive a third installment of money from the European Stability Mechanism (ESM), the eurozone bailout fund.

The embattled country will be handed 8.5bn euros after the ESM's board approved the payment.

Government 'listening to business'

EU flag and Big Ben
Getty Images

Terry Scuoler, chief executive of EEF, the manufacturers’ organisation, has called a meeting on Friday between the government and business leaders about Brexit "a good first step".

He said: "It’s clear ministers are listening to business concerns, which we welcome.

"We had an open and frank discussion and we’ve started a process where we will work together to obtain as much clarity and certainty as possible for industry as we prepare to leave the EU.”

Brexit Secretary David Davis held the gathering at Chevening House in Kent which was also attended by CBI director general Carolyn Fairbairn.

The G20 summit in pictures

So the G20 summit has begun and the host German Chancellor Angela Merkel has welcomed world leaders to Hamburg.

World leaders gather in Hamburg for the start of the G20 summit
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Outside, however, demonstrators are continuing to protest.

The activist and co-founder of the Democracy in Europe Movement, Srecko Horvat, has been taking part in the demonstrations in Hamburg. He told the BBC that the G20 leaders would achieve little and their meeting had turned the city into a war zone.

G20 protests hit Hamburg
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Hamburg's police chief Ralf Martin Meyer said that many officers had been injured during clashes with protesters. Reports put the number at 160 injured officers.

Damaged police vehicle
Getty Images

Police forces around Germany dispatched reinforcements to help 15,000 police already deployed to the northern port city for the G20 summit as the violence escalated.

Police use water cannons on protesters in Hamburg
Getty Images

Listen: Employers are 'beginning to sweat'

The World at One

BBC Radio 4

Labour MP Frank Field looks ahead to the Taylor Review on workers' rights which is due to be published next week and what action Prime Minister Theresa May should take.

Frank Field: 'Good announcement' from Deliveroo allowing more benefits for gig workers

US markets open up

The Dow Jones Industrial Average opened up 60.71 points at 21,380.75.

The S&P 500 is ahead 6.96 points at 2,416.71 in early trading and the Nasdaq has gained 25.88 points in the first minutes of trading to 6,115.34.

Mixed bag may slow US interest rate rises

US dollars
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It isn't quite all sunshine and roses in the US.

Lukman Otunuga, research analyst at FXTM, says: "While the solid headline jobs number continues to highlight the underlying strength of the US jobs market, average hourly earnings on a monthly basis were underwhelming at 0.2%."

He says the slower wage growth "represents a slight disappointment", adding: "With a lack of wage increase fueling concerns that this period of low inflation in the US is more than “transitory”, we might see the financial markets continue to debate over how often the Federal Reserve can continue to raise US interest rates."

The US Federal Reserve
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The US Federal Reserve in Washington DC

Mr Otunuga reckons the US Fed can still go ahead with interest rate rises but "not at the rate expected by the financial markets".

He says: "I would also add that the lower rate of wage growth and ongoing inflation expectations will lead to more conflicting messages from the Federal Reserve regarding the pace of future interest rate increases."

Field welcomes planned change to gig employment law

BBC economics editor Kamal Ahmed tweets...

Employment figures shine light on US Fed

Janet Yellen is the chairwoman of the US Federal Reserve
Getty Images
Janet Yellen is the chairwoman of the US Federal Reserve

Kully Samra, UK managing director at Charles Schwab, says that the US employment figures have "surpassed expectations"

He says: "With only one more rate hike expected this year, investors should turn their attention to the Fed, which will soon attempt to shrink its behemoth $4.5 trillion balance sheet. Success would be if the Fed can gracefully divert the excess liquidity it’s created from financial assets to the real economy."

US employment data revised up

The US Bureau of Labor Statistics also revised up job creation figures for April and May.

April's figure of 174,000 new jobs was changed to 207,000. In May, companies created 152,000 new roles compared to an initial reading of 138,000.

US creates 222,000 jobs in June

US construction workers
Getty Images

The US economy created 222,000 jobs in June, according to the Bureau of Labor Statistics - significantly more than analysts had been expecting.

The unemployment rate was little changed at 4.4%.

Average hourly earnings (over the year) were up 2.5%.

Will Deliveroo go further on benefits?

Kamal Ahmed

Economics editor

The boss of Deliveroo, Will Shu, has told me that the company is willing to go further than offering its riders sick pay and injury insurance.

I put it to him that the benefits debate in the gig economy went far further than sickness benefits and injury insurance, and asked whether the company would look at issues like pension payments and holiday entitlements.

“This is the beginning of the debate,” Mr Shu told me.

“We sat down with – me personally – hundreds of riders and asked, what do you care most about today?"

“It was sick pay and insurance for injury and that is what we are starting with. But we are open minded to different things.”

The coming extinction of petrol-heads?

Car nuts are also know as petrol-heads. But this week Volvo became one of the first big car companies to commit to phasing out traditional engines.

So how should we rename petrol-heads asks Theo Leggett?

So far we have:

Charge Masters

Plug Heads

Sparkies (surely already a nickname for electricians?)


View more on twitter

Oil prices slide after US production data

North Sea Brent Crude

Oil prices have fallen sharply.

North Sea Brent Crude is down $1.40 a barrel at $46.71.

The drop came after data showed that US production rose 1% last week.

OPEC nations have been trying to curb production to drive up oil prices, but so far their efforts have had little effect.

In fact, data from OPEC showed that in June exports rose for a second month in a row.

"Regardless of what OPEC try and do, it seems the supply overhang is preventing any kind of sustainable rally," Ian Williams, strategist at Peel Hunt, said.

Pound stumbles over weak economic data

Pound dollar

The pound fell sharply after data suggested weakness in the UK economy.

It was trading close to $1.30, but dipped below $1.29, after data showed an unexpected fall in British factory output.

Economists think the report has pushed further into the future any rise in UK interest rates.

"Given the soft data this week, I think a UK rate hike is increasingly becoming a 2018 story," said Viraj Patel, a foreign exchange strategist at ING.

Change of role for the jumbo jet

Richard Westcott

Transport correspondent

Richard Westcott on board plane

The Jumbo was only built as a stop-gap aircraft while Boeing built a supersonic plane to rival Concorde. But the supersonic transport (SST) never took off. So having nearly bankrupted Boeing with its huge development costs, the 747 ending up saving the company. Its scale and range meant airlines could slash ticket prices and bring flying to the masses.

They've now delivered 1,532 Jumbos, but airlines can make better money with smaller, fuel efficient carbon composite planes so sales are drying up and Boeing has floated the idea of stopping production. The 747's still got a long life ahead though, as a freight plane, which was the original plan anyway. The famous hump was put there to lift the cockpit, allowing them to lift the nose up and drive goods inside.

How to recycle a jumbo jet

Richard Westcott

Transport correspondent

"I've just been to a breakers' yard where they were recycling a Jumbo Jet. The mechanical claw made mincemeat of the aircraft in a day, ripping up the aluminium which was driven off to make beer cans. You'll also see some of its old wiring in Star Wars. Film companies like old bits of aircraft because the high definition era means they can't get away with painting things on scenery any more. They need the real thing."