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Live Reporting

By Karen Hoggan

All times stated are UK

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Good night

That's all from Business Live for Thursday - thanks for reading. Do join us again on Friday from 06:00.

Watch: Bag's-eye view of airport check-in

Have you ever wondered what happens to your suitcase after you check-in at Stansted airport?

Here's the journey one bag took after it disappeared down the conveyor belt.

Bag's-eye view of airport check-in at Stansted

New York ends lower

Getty Images

Wall Street slipped on Thursday as political uncertainty in Washington kept investors cautious ahead of comments on monetary policy from central bankers meeting in Jackson Hole, Wyoming.

The Dow Jones Industrial Average fell 28.6 points, or 0.1%, to 21,783.4, the S&P 500 lost 5.1 points, or 0.2%, to 2,438.9 and the Nasdaq Composite dropped 7 points, or 0.1%, to 6,271.3 points.

BreakingLibor charges

The US Justice Department says two former Societe Generale executives have been indicted for their role in alleged Libor manipulation.

Signet shares soar

Signet Jewelers saw its shares jump by more than 20% at one point on Thursday after the company said sales in the three months to the end of July reached almost $1.4bn, rising 1.9% year-on-year.

The company owns diamond brands like Kay's and shop chains including Gordon’s, JB Robinson Jewelers, Mappins and Marks & Morgan Jewelers.

Separately on Thursday it said it was buying the parent company of online jeweler for $328m.

With an hour to go in the trading day the shares are still more than 17% higher.

SoftBank invests $4bn in WeWork

Exetrior of WeWork office in Washington DC
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WeWork - the commercial office space start-up - is to receive $4.4bn in investment from Japan's SoftBank and the SoftBank Vision Fund.

In return for a monthly membership fee the company provides shared worked space "co-working space" - and services for entrepreneurs and small firms. There are now 150,000 "members".

WeWork plans to invest $1.4bn of the money in its expansion in China, Japan and Southeast Asia and Korea, while $3bn will be invested in the parent company.

Adam Neumann, Co-Founder and CEO of WeWork said: "This support from SoftBank and the Vision Fund will provide even more opportunities for creators as we set out to humanise the way people work and live."

Watch: Borough Market bans sale of plastic water bottles

Borough Market will ban the sale of single use plastic water bottles and offer free water fountains.

It's part of a drive by the south London market to reduce their carbon-footprint and become one of the greenest markets in the country.

Refillable bottles, made from recycle

Borough Market bans sale of plastic water bottles and offer free water fountains instead.

Amazon swallows Whole Foods

Whole Foods store
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Amazon plans to complete its $13.7bn takeover of Whole Foods on Monday after winning antitrust approval from US regulators yesterday.

The companies said in a joint statement that Whole Foods will offer lower prices starting on Monday "on a selection of best-selling grocery staples across its stores".

Amazon also said that it will start selling Whole Foods brand products on its website.

Sparkling performance at Tiffany

Tiffany sign in New York
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Shares in jeweller Tiffany & Co shares are trading 1.9% higher after the firm said quarterly sales had climbed 3% to $960m.

Tiffany has received a boost from using pop star Lady Gaga to launch its Tiffany Hardware collection, which describes itself as "elegantly subversive" and includes items like the gold Wrap necklace which sells for $13,500 (£10,500).

New York-based Tiffany said it was also helped by increased sales of wholesale diamonds and higher spending in Japan where it gets 15% of its revenue.

Losing altitude

Chris Johnston

Business reporter, BBC News

Easyjet fin
Getty Images

Easyjet is today's winner of the wooden spoon on the FTSE 100 after its shares ended 4.4% lower at £12.14. A downgrade by analysts at Exane BNP Paribas to "underperform" deterred some investors today it appears.

Although Easyjet has jumped almost 20% this year, the shares are still considerably lower than their value before the Brexit vote in June 2016.

Chief executive Carolyn McCall is also deplaning after winning the top job at ITV, replacing Adam Crozier.

Samsung working on smart speaker

DJ Koh
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Samsung has confirmed it is developing its own voice-controlled "smart speaker" device for the home, as a rival to Amazon Echo and Google Home .

DJ Koh, head of Samsung's mobile division, told CNBC News: "I am already working on it."

The company already has a voice-controlled assistant called Bixby on some of its devices, which can send messages and set reminders.

One analyst said Samsung would have to differentiate itself from competitors.

Read the full story here

Tooting is tops?

BBC Radio 5 live

Tooting Market exterior
Getty Images

Tooting in South London has been listed as one of the top 10 "coolest neighbourhoods to visit right now" by Lonely Planet travel guides.

It's the only borough in the UK to feature in the list.

Travel writer Will Jones described Tootiing as a "captivating affair" with a high street which is "one of the best curry corridors’ in the country".

Top of the rankings comes Borgo San Frediano in Florence, followed by Seongsu-dong in Seoul and The Triangle in Lisbon. Read the full list here

I think what's really cool about Tooting is that it's quite diverse. It's still not over-saturated with your typical high street shops and you've got lots of small businesses.

Roi MengelgreenManager, Tooting Market

Why did German supermarket remove foreign goods?

BBC Newsbeat

Empty shelves in supermarket

A supermarket in Hamburg has removed all foreign products from its shelves to highlight racism.

Food had instead been replaced with signs saying "this shelf is pretty boring without diversity".

It's in response to migrant-related crime increasing in recent months along with general anti-immigrant feeling.

Edeka, one of the largest supermarket chains in Germany, is now going to roll out the initiative to more stores. Read the full story here

UK PR firm found in breach of code for South African campaign

Members of South Africa's Democratic Alliance outside Bell Pottinger's London offices
Members of South Africa's Democratic Alliance, including communications spokesperson Phumzile Van Damme, outside Bell Pottinger's London offices this month

A UK public relations firm has been found in breach of an industry code of conduct for a controversial social media campaign, South Africa's opposition party said.

Bell Pottinger was accused by the Democratic Alliance of inflaming racial tensions with the campaign, with the aim of boosting President Jacob Zuma.

The party said the UK Public Relations and Communications Association (PRCA) had upheld its complaint.

Bell Pottinger declined to comment.

The PRCA, which represents more than 20,000 members in the PR industry, can impose a range of sanctions. The most stringent is ending a firm's membership. Read the full story here

Sterling flat

Sterling was little changed on Thursday, having hit a near-two-month low against the dollar earlier in the day.

It was little changed against the dollar at $1.2794, a fall of 0.05%.

Meanwhile it was at 1.0842 euros, a rise of 0.01%.

Sterling has been impacted by a general decline in risk appetite while structurally, business sentiment and investment plans have been hit by the ongoing political uncertainty, with the services sector being hit the hardest. said Peter Chatwell,

Peter ChatwellHead of euro rates strategy, Mizuho International

Avoid 'simplification' says Romanian president

More on the French president's calls for changes to employment rules now ...

At the news conference in Bucharest held jointly with President Macron Romanian President Klaus Ioannis said: "It is very important to avoid useless simplification."

"On the one hand, there is discontent in France over undeclared workers, on the other hand there are many people in Eastern Europe, in Romania, who want to work in France, Germany, Spain. "It is clear the directive needs to be improved."

Gains and losses on FTSE 100

On the FTSE 100 the biggest riser, gaining 13.16%, was Provident Financial.

On Tuesday the doorstep lender shed 66% after it issues its second profit warning in three months.

The biggest fall was seen by easyJet, which closed 4.41% lower.

It was hit by a downgrade to "underperform" from Exane BHP Paribas, as well as by news that Germany's Lufthansa had submitted a letter of interest for taking over parts of insolvent Air Berlin.

Winners and lowers on FTSE 250

Dixons Carphone closed 23.16% lower, although earlier in the day it was down by as much as 30%, following that profits warning (See earlier posts).

The biggest gain on the FTSE 250 was seen by builder Carillion, which warned on profits last month, but was today named as the main contractor on a £300m property development in Manchester. Its shares closed 10.41% higher.

Macron: Stop firms undercutting local labour

BBC World Service

Emmanuel Macron and Klaus Iohannis
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Emmanuel Macron (L) met Klaus Iohannis (R) in Bucharest

The French president, Emmanuel Macron, says the European Union risks breaking up unless it can stop firms from undercutting local labour in richer countries by recruiting temporary workers from low-wage ones, reports BBC World Service.

Wealthy EU member states argue that the rule - called the Posted Workers Directive - amounts to "social dumping."

By recruiting from low-wage countries, employers avoid making payments into costly health and welfare schemes of the local workers.

Only 1% of the EU workforce are "posted" workers.

"Part of Britain's Brexit vote was down to the poor functioning of the single market on posted worker rules, and the rules we have on social rights," Mr Macron said.

"I'm convinced we can reach an agreement before the end of the year," he added.

Mr Macron was speaking in Bucharest, after talks with the Romanian President, Klaus Iohannis.

FTSE 100 ahead at close

London Stock Exchange sign
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The FTSE 100 managed to remain in positive territory on Thursday, closing at 7,407.06, a rise of 24 points or 0.33%.

The FTSE 250 however, closed lower at 19,710.30, a fall of 33 points or 0.17%, dragged lower by Dixons Carphone, which lost ground following a profit warning.

Farm work agency boss 'struggling to get EU workers'

Sharon Edwards

Political Reporter, BBC Radio Lincolnshire

A director of a recruitment agency which supplied farm workers to Lincolnshire says he's wondering who will pick our fruit and vegetables after today's migration figures were published.

John Hardman was speaking on the BBC's Victoria Derbsyshire programme after statistics out today showed estimated net migration has fallen by 81,000 - its lowest level for three years.

John Hardman

The figures show that in the year to the end of March there was a significant rise in the number of EU nationals leaving the UK.

Mr Hardman says Brexit means he's struggling to find employees from the EU.

Sydney to London non-stop?

Qantas tail fins
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Qantas Airways is poised to announce plans to offer 20-hour non-stop flights from Sydney to London by 2022 if Airbus or Boeing can deliver aircraft that meet the distance, reports Reuters, quoting a source familiar with the matter.

An announcement is expected alongside the airline's annual results on Friday, the source added.

Qantas has already announced plans for 17-hour non-stop Perth-London flights from March 2018 with 787-9 aircraft.

'So what do you do on the boat?'

Mobiles morphing?

BBC technology correspondent tweets

A quick update - and Dixons Carphone shares are now down by 17.42%, following that profit warning earlier.

View more on twitter
View more on twitter

Wall Street edges down at open

Wall Street sign
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The three key US stock indexes edged down at the open on Thursday.

Investors are looking for hints abut the future direction of interest rates and economic stimulus as the world's central bankers meet at Jackson Hole in Wyoming.

The Dow Jones is at 21,789.79, a fall of 22 points or 0.10%.

The S&P 500 is down 4 points or 0.13% at 2,440.95.

And the tech-heavy Nasdaq is at 6,267.98, down 10 points or 0.17%.

Sterling edges recovers ground against dollar

Pound dollar intraday graph 24 August 2017

Sterling hit a new two-month low against the dollar on Thursday before recovering some ground, following those figures confirming that the UK economy grew 0.3% in the second quarter, despite high inflation and uncertainty over Brexit (See earlier post).

Pound claws back some losses

Pound euro intraday graph 24 August 2017

The pound - which hit a ten and a half month low on Wednesday - has clawed back some of the losses in today's trading.

A short while it was at 1.08670 euros - that's a gain of 0.24%.

Premier League clubs spend record amount

Romelu Lukaku
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Romelu Lukaku joined Manchester United for an initial £75m

Premier League clubs have spent a record £1.17bn on players in this summer's transfer window, according to business analysts Deloitte.

The 20 clubs had spent the sum by the end of Wednesday, beating the previous record of £1.165bn set last summer.

This summer has seen Manchester United pay Everton an initial £75m for striker Romelu Lukaku, while Chelsea paid Real Madrid £70m for Alvaro Morata.

At the same stage last year, clubs had spent £865m. Read the full story here

Would you let a robot conduct your funeral?

That's now a question being asked in Japan - where, for $450 (£350), a robot is being offered to conduct an important part of people's funerals...

'Vast majority of foreign students do not overstay UK visas'

FT public policy correspondent tweets...

US retailers 'hit by Trump's immigration stance'

Brooklyn shop
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Many US Hispanics, who as a group have substantial buying power, have cut back on discretionary spending and are only going out to get essential goods due to concerns about possible harassment by US immigration or law enforcement officials, Reuters reports.

In his campaign for the US presidency, Donald Trump said he wanted to deport undocumented foreigners en masse and build a wall on the US-Mexico border.

These pledges - along with Mr Trump's claim that Mexico was sending rapists and drug dealers into the United States - sparked outrage in the American Hispanic community.

"For our own president to call us criminals, thieves and rapists - it's terrible ... we live in fear of doing those simple things like going for groceries," said a 19-year-old Chicago college student, Juan F, who did not want to give his full name to Reuters.

Lower spending by Hispanics has been hurting certain retailers since the start of the year, according to reports by brokerage firm Jefferies and analytics firm NPD Group.

UK seeks EU data transfer pact

Europe map with data padlock illustration
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EU member states must adhere to data protection regulations set out by the European Commission

The government's latest Brexit paper discusses how data transfers will be affected by leaving the EU.

Europe map with data padlock illustration

UK seeks EU data transfer pact

The government's latest Brexit paper discusses how data transfers will be affected by leaving the EU.

Read more

UK car production revs up in July

Nissan car

The number of cars built in the UK last month rose by almost 8% compared with July 2016, new figures show.

Just over 136,000 vehicles were made in British factories, up 7.8% on July last year, the Society of Motor Manufacturers and Traders (SMMT) said.

Many carmakers increase production in July ahead of new models going on sale in September and summer shutdowns.

However, the number of cars made in the UK in the first seven months of the year fell 1.6% to about one million.

'Condor swoops on Air Berlin planes' - Reuters

Air Berlin planes

Thomas Cook's German airline Condor is interested in snapping up a number of planes from Air Berlin, Reuters reports.

Air Berlin flied for insolvency last week.

Oil prices slide

Oil prices fell on Thursday.

Brent crude is trading 0.5% lower at $52.30 a barrel while West Texas Intermediate is also 0.5% lower at $48.19.

Google will ask: 'Are you depressed?'

Google survey

Business Live can't quite decide if the following is helpful, or just a little bit creepy.

People who search for “depression” on Google will soon be prompted to take a questionnaire to assess if they may be suffering from depression.

Google has partnered with the US National Alliance on Mental Illness to roll out the project which is currently only for US users.

The BBC's North America technology reporter Dave Lee has the full story here.

Handset demand lifts sales at ZTE

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Handset sales might be troublesome for Dixons Carphone but they've been a boon for ZTE.

The Chinese telecom equipment maker said interim profit rose by 30% to 2.29bn yuan (£270m) on revenue 3% higher at 54bn yuan.

It said sales had grown in both its consumer business as well as its telecom equipment division as operators invested in fourth-generation (4G) infrastructure.

Looking ahead,ZTE expects 4G users and traffic will enter a peak period "while 5G's standardisation, technology and testing will experience a breakthrough".

The worst job title of your life

Retail sales cool in August

Shopping on the high street
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Sales volumes fell in the year to August, according to the CBI Distributive Trades Survey.

Of the businesses questioned, 34% said volumes were up in August while 44% said they were down, giving a balance of -10%.

It is the lowest reading since July 2016 and below July balance of +22%.

Despite the warmer weather at the start of the month, retail sales have cooled as higher inflation continues to squeeze consumers’ pockets. Meanwhile, deteriorating sentiment regarding the business situation has combined with falling headcount among retailers. Looking ahead, firms do expect sales growth to recover, but the pressures on household budgets are set to persist, given little sign of wages picking up.”

Anna Leachhead of economic intelligence at the CBI