Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.


  1. Get in touch at
  2. Merck boss resigns from Trump council
  3. Pound falls on divided market outlook
  4. FTSE 100 heads higher
  5. Chinese factory output slows

Live Reporting

By Dearbail Jordan

All times stated are UK

Get involved

UK and EU flags

Alex Hunt

BBC News

A guide to how the UK will leave the European Union after the 2016 referendum.

Read more

Good night

Test card F

Thank you for following Business Live today.

Tuesday promises to be interesting with inflation figures due out in the morning.

Business Live will be back from 6.00am sharp - we look forward to you joining us then.

Mind your Ps and Qs

US stock markets close up

The Dow Jones Industrial Average has closed 130.33 points ahead at 21,988.65.

The S&P 500 finished 24.14 points up at 2,465.4.

The Nasdaq ended 83.68 points up at 6,340.23.

US industrial 'assessing role' on Trump council

AFL-CIO President Richard Trumka
Getty Images

The American Federation of Labor and Congress of Industrial Organisations (AFL-CIO) says that it is assessing its role on Donald Trump's manufacturing committee.

Its president Richard Trumka said: "The AFL-CIO has unequivocally denounced the actions of bigoted domestic terrorists in Charlottesville and called on the President to do the same.

"We are aware of the decisions by other members of the President’s Manufacturing Council, which has yet to hold any real meeting, and are assessing our role.

"While the AFL-CIO will remain a powerful voice for the freedoms of working people, there are real questions into the effectiveness of this council to deliver real policy that lifts working families.”

New York bank chief sees further rate rise in 2017

The president of the New York Federal Reserve Bank says there could be another interest rate rise in 2017.

William Dudley told Associated Press: "I would expect - I would be in favor of doing another rate hike later this year."

Commenting on expectations that the US Federal Reserve would begin reducing its massive bond holdings in September, he said: "I don't think the expectations of market participants are unreasonable."

Minutes from the most recent Federal Open Market Committee rate-setting meeting will be released on Wednesday.

Campbell boss to stay on Trump committee

Denise Morrison
Getty Images

Denise Morrison, president and chief executive of Campbell Soup Company, is staying on the US President's manufacturing committee.

This follows a decision by Ken Frazier, head of drugs giant Merck, to resign in response to violence by white supremacists at the weekend in Charlottesville and Donald Trump's immediate response to the attacks which claimed the life of protester Heather Heyer.

Campbell Soup said: "The reprehensible scenes of bigotry and hatred on display in Charlottesville over the weekend have no place in our society. Not simply because of the violence, but because the racist ideology at the center of the protests is wrong and must be condemned in no uncertain terms.

"We believe it continues to be important for Campbell to have a voice and provide input on matters that will affect our industry, our company and our employees in support of growth. Therefore, Ms. Morrison will remain on the President’s Manufacturing Jobs Initiative."

Uber investor Benchmark explains Kalanick lawsuit

Travis Kalanick
Getty Images

Benchmark Capital has given some insight into its decision to file a lawsuit to force Uber's former chief executive and co-founder Travis Kalanick off the board of the company entirely.

In a letter to Uber employees, Benchmark said: "We know that many of you are asking why Benchmark filed a lawsuit against Travis last week. Perhaps the better question is why we didn’t act sooner."

It said that it had given Mr Kalanick a month to fulfill certain agreements.

"We were asked to postpone any filing and assured that efforts would be made to get these changes made without a lawsuit. We waited and waited, watching as things deteriorated even further. Eventually we felt that we could wait no longer and took action."

Read the full letter here.

Counting the cost of train tickets

Train tickets
Getty Images

On Tuesday, rail passengers will find out how much more tickets will cost in the New Year when the Office for National Statistics releases the Retail Price Index measure of inflation for July - which sets the increase for the following year.

The forecast is for RPI growth of 3.5% last month.

A spokesperson for the Department of Transport says: “The government carefully monitors how rail fares and average earnings change, and keeps under review the way fare levels are calculated."

It adds: “Regulated rail fares are capped in line with inflation for next year. In the five years to 2019, Network Rail is spending more than £40 billion to maintain and improve the network. On average, 97% of every £1 of a passenger's fare goes back into the railway."

Google cancels neo-Nazi website's registration

Heather Heyer was killed on Saturday
Getty Images

Google says that it is cancelling the Daily Stormer's registration for violating the company's terms of service.

The Daily Stormer, which is a white supremacist and neo-Nazi website, published a derogatory story about Heather Heyer, a protester who was killed in an attack in Charlottesville, Virginia at the weekend.

The website's original domain name provider Go Daddy gave it 24 hours to move following its disparaging article about Ms Heyer.

Now Google has acted - read the full story here.

Magic moments...but only in China

Dow Chemicals boss to remain on White House committee

Donald Trump (L) and Dow Chemicals boss Andrew Liveris (R)
Getty Images
Donald Trump (L) and Dow Chemicals boss Andrew Liveris (R)

Like GE's Jeff Immelt, Andrew Liveris, the chairman and chief executive of Dow Chemicals, condemns the violence in Charlottesville and will remain on Donald Trump's manufacturing committee.

He says: "I condemn the violence this weekend in Charlottesville, Virginia, and my thoughts and prayers are with those who lost loved ones and with the people of Virginia.

"In Dow there is no room for hatred, racism, or bigotry. Dow will continue to work to strengthen the social and economic fabric of the communities where it operates – including supporting policies that help create employment opportunities in manufacturing and rebuild the American workforce."

GE chairman to stay on Trump council

Jeff Immelt
Getty Images

General Electric's chairman Jeff Immelt will not be following the example set by Merck's Ken Frazier and will stay on the Presidential Committee on American Manufacturing

The US company said: "GE has no tolerance for hate, bigotry or racism, and we strongly condemn the violent extremism in Charlottesville over the weekend.

"GE is a proudly inclusive company with employees who represent all religions, nationalities, sexual orientations and races.

"With more than 100,000 employees in the United States, it is important for GE to participate in the discussion on how to drive growth and productivity in the US, therefore, Jeff Immelt will remain on the Presidential Committee on American Manufacturing while he is the Chairman of GE."

Financial stocks lead Dow higher

Financial stocks seem to be having the best of it on the Dow Jones index right now. Credit card companies Visa and American Express are among the top five gainers, rising 1.9% and 1.5% respectively, while Goldman Sachs is the best-performing bank, up 1.85%.

Overall, the Dow is trading above the 22,000 mark, with a gain of 0.65% on the day. The market in general is buoyant across all sectors, as tensions wane between the US and North Korea.

Snapping back?

Snapchat logo
Getty Images

It's been a roller-coaster ride on the US markets so far this session for social media firm Snap.

The owner of Snapchat has seen its share price decline steadily ever since it started trading on the stock market in March.

Last week, its problems were exacerbated when it reported more than $400m (£310m) in quarterly losses and fewer than expected users.

Shortly after the start of Monday's trading, the stock fell a further 4.7% to a record low of $11.28. But it later recovered to become one of the day's biggest risers, up 6.4% to $12.59.

Trading in Snap was boosted by the company's employees, who became eligible on Monday to sell their shares for the first time. That increased the supply, but also the volatility of the stock.

Despite the recovery, it's still a long way off the share price at the time of its initial public offering, which was $17.

Former McDonald's chief blasts Trump tweet

Donald Trump
Getty Images

The former boss of McDonald's called Donald Trump's response to Ken Frazier's decision to resign from the US President's manufacturing council "despicable".

Ed Rensi told CNBC that Mr Frazier's decision to leave the advisory role was the right move.

"Our job as CEOs is to return great value to the shareholders and stakeholders of our companies, but that involves social conscience," Mr Rensi said. "We got to do the right thing for the right reasons."

In response to Mr Frazier's announcement. Mr Trump tweeted earlier: "Now that Ken Frazier of Merck Pharma has resigned from President's Manufacturing Council,he will have more time to LOWER RIPOFF DRUG PRICES!"

HP boss backs Merck chief's stance

Hewlett Packard Enterprise's president and chief executive tweets...

More pain for train passengers

Train passengers
Getty Images

This is an important week for economic news.

On Wednesday, the Office for National Statistics (ONS) will release the latest employment figures and on Thursday, we'll find out how much people are spending with new retail sales figures.

Before all that though, rail passengers will find out how much more they will have to spend on travel in the New Year when the ONS unveils the Retail Price Index measure of inflation.

The July figure dictates how ticket prices will rise the following year - forecasters predict RPI reached 3.5% last month.

NHS cyber hero pleads not guilty

Marcus Hutchins

A British cyber-security researcher has pleaded "not guilty" to charges of creating and selling malware that snooped on victims' banking logins.

Marcus Hutchins, 23, appeared in court in Milwaukee, Wisconsin.

A trial has now been scheduled for October.

He shot to fame after helping to stall the WannaCry ransomware cyber-attack that struck the NHS and affected many other organisations around the world in May.

Read the full story here.

Listen: To dish or not to dish?

All smiles for TUI in market gain

Tui Travel
Getty Images

The FTSE 100 has closed 43.93 points up at 7,353.89.

Tour operator TUI led Monday's gainers with its share price up 4.79% at £12.90.

In contrast, the credit scoring business Experian was the biggest faller. Its share price dipped 1.45% to £14.95.

The FTSE 250 closed up 147.68 points at 19,692.47.

Diamond magnate questioned in fraud probe

Beny Steinmetz
Getty Images

Billionaire businessman Beny Steinmetz has been detained by Israeli authorities for questioning in relation to a fraud probe.

The diamond magnate is one of five people who has been questioned.

According to a statement: "The police have been investigating a number of suspects on suspicions that they worked systematically with the main suspect to produce and present fictitious contracts and transactions, including real estate in a foreign country.”

Mr Steinmetz was also detained by Israeli authorities in December, when he was placed under house arrest as part of a corruption probe involving mining deals in Guinea. He was later released without charge.

US stocks climb further on eased tensions

US stock market traders
Getty Images

The Dow Jones Industrial Average has extended gains on Monday and is now trading 142.03 points ahead at 22,000.35.

The S&P 500 is also climbing, up 24.44 points at 2,465.74 while the Nasdaq has added 72.62 points at 6,330.02.

Stock market tumbled last week as tension grew between the US and North Korea.

Art Hogan, chief market strategist at Wunderlich Securities said "the North Korean tension seems to be abating a bit".

Hackers target Curb Your Enthusiasm

Larry David
Curb Your Enthusiasm star Larry David

The HBO hackers are at it again.

This time they have leaked unaired episodes of Curb Your Enthusiasm.

An earlier leak indicated HBO had offered the blackmailers $250,000 (£192,300), Variety reported.

Over recent weeks, one Game of Thrones episode, scripts and sensitive internal documents have also been exposed.

Read the full story here.

Ryanair calls for pre-flight alcohol limit

Airline passengers should not be allowed to consume more than two alcoholic drinks before boarding, according to Ryanair.

The company is called on UK airports to enforce the limit as well as stopping the sale of alcohol before 10.00am.

A spokesman for Ryanair said: "This is an issue which the airports must now address and we are calling for significant changes to prohibit the sale of alcohol at airports, particularly with early morning flights and when flights are delayed."

Tonight at 8.30pm Panorama explores the issue and why the number of people being arrested for being drunk on planes has risen by 50%.

View more on twitter

Goldman Sachs boss speaks out over Charlottesville

Lloyd Blankfein, the chairman and chief executive of US investment bank Goldman Sachs, has quoted Abraham Lincoln is response to the terrorist attack and violence by white supremacists in Charlottesville at the weekend.

View more on twitter

Merkel: Germany will phase out new diesel cars

Diesel engine
Getty Images

Angela Merkel says that Germany must follow other countries in phasing out new diesel vehicles on its roads.

The German Chancellor told Super Illu magazine that she didn't "want to name an exact year" but she said the UK and France's plan to phase out internal combustion-driven cars by 2040 "were the right approach".

EU flag flies in front of UK Parliament

Jonty Bloom

Business correspondent, BBC News

What is the difference between a free trade area, a single market and a customs union?

Read more

Oil prices fall

Oil rig
Getty Images

While stock markets are buoyant, oil prices have ticked lower on oversupply fears.

Major consumer China said that its refineries processed 10.71m barrels per day in July, which is down on June and the lowest level since September last year.

Data released on Friday by oil service business Baker Hughes showed that companies increased their drilling capacity for the second time in three weeks.

Brent crude is down 0.5% at $51.85 a barrel.

West Texas Intermediate is off 0.4% at $48.64 a barrel.

Who's who on Trump's council

Markets rise on lower tensions

North Korea tension
Getty Images

Stock markets seemed to be calmer on Monday as tensions between the US and North Korea appeared to ease a little.

Chris Low, chief economist at FTN Financial, says: "North Korean war fears subsided over the weekend as US military leaders said they are preparing a response to an attack, but prefer diplomacy.

"Kim and Trump were silent and China urged calm."

What's in a name

The wind beneath Telit Communications' share price rally is wavering a little but the stock is still up 6.26% at 131.50p.

This, of course, is after Monday's truly peculiar news that Telit's boss, Oozi Cats, is really called Uzi Katz and is wanted for fraud in the US.


Economies after partition

Capita workers to vote on strike action

Workers at Capita, the outsourcing group, will vote on whether to take strike action over plans to close the defined benefit pension scheme.

Unite the union said that if Capita is able to implement this proposal "Unite has a real concern that it will open the door to further attacks on the other company pension arrangements".

US stocks make strong start

The Dow Jones Industrial Average has started the week 95.20 points ahead at 21,953.52.

The S&P 500 has leapt 15.24 points to 2,456.56.

The Nasdaq has added 52.03 points in opening trade to 6,308.58.

Revolving door at the White House

Donald Trump (L) and Ken Frazier (R)
Donald Trump (L) and Ken Frazier (R)

Kenneth Frazier, the chairman and chief executive of Merck, is not the only businessman to have resigned from one of Donald Trump's committees or councils.

Billionaire Elon Musk left the US President's economic advisory committee in June after Trump said he is pulling America out of the Paris climate agreement.

That also prompted Robert Iger, the chairman and chief executive of Disney to leave Trump's business advisory council.

Sterling dips on the dollar

The pound is 0.33% lower on the dollar at $1.29680 as banks give a divided outlook on for the UK economy.

Some believe that growth will slow further as the country nears its exit from the European Union while others think the worst is over in terms of market reaction.

Sam Lynton-Brown, a strategist with BNP Paribas tells Reuters: "At this stage the market does not expect the newsflow around Brexit negotiations to sound very positive.

"But the longer it takes for the market to be able to price in a transitional deal, the more investors will have to prepare for a cliff edge scenario."

BreakingTrump responds to Merck council resignation

The President of the United States tweets...

BreakingMerck boss resigns from Trump council over Charlottesville

The boss of Merck, the US pharmaceutical giant, has resigned from Donald Trump's American Manufacturing Council following the events in Charlottesville at the weekend and the US President's response to the terrorist attack.

Here is the statement from Kenneth Frazier:

View more on twitter

Streaming kills the DVD star

Pile of CDs
Getty Images

It looks like this new-fangled thing called "streaming" has really started to catch on.

So, it means that the Lovefilm By Post DVD rental service will cease to operate on 31 October this year.

Its owner, Amazon, said there had been a "decreasing demand" for discs.


Read the full story here.