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  1. Get in touch:
  2. FTSE 100 closes 0.3% higher at 7,446.8 points
  3. Holland & Barrett sold to Russian billionaire
  4. Co-Op Bank no longer for sale
  5. Airbag maker Takata files for bankruptcy

Live Reporting

By Karen Hoggan

All times stated are UK

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  1. Worth more than the iconic Opera House?

    coral reef

    It's hard to put a price on some things.

    But Deloitte has still had a go. It's calculated that Australia's Great Barrier Reef is worth A$56bn (£33bn; $42bn).

    That's the reef's total "economic, social and icon value" so including attracting touirsts, supporting jobs, plus the "brand value" to Australia of people associating the country with the striking natural ecoystem.

    That makes it 12 times more valuable than the Sydney Opera House, according to the Great Barrier Reef Foundation, which commissioned the report.

  2. Pound up against dollar and euro

    Pound v dollar

    Sterling is up by 0.27% against the US dollar on Monday morning at $1.2752.

    It is also up against the euro, by 0.20%, at 1.1385 euros.

  3. FTSE opens slightly ahead

    The FTSE has opened the new week in positive territory.

    Not long after open the index of bluechip stocks was up 28 points, or 0.38%, at 7415.32.

    Winners included ITV, Associated British Foods, and Coca-Cola.

  4. It was 20 years ago today

    Hogwarts Express

    It is 20 years since the publication of Harry Potter and the Philosopher's Stone.

    Joanne Rowling, as she was known then, dreamed up the story of the bespectacled boy wizard on a train trip between London and Manchester.

    After many rejections, the manuscript was eventually picked up by Bloomsbury. The first hardback print run, which came out on 26 June 1997, was just 500 copies.

    Since then some 450 million Harry Potter books are estimated to have been sold around the world, with Forbes reckoning that they have brought in some $7.7bn (£6bn) in revenues.

  5. Hornby puts takeover talk into siding for now

    Hornby train

    Slight deja vu moment here as you may have read something similar to this last week.

    Model toymaker Hornby has once again said a takeover offer from its largest shareholder, Phoenix Asset Management, "undervalues" the firm "and its future prospects".

    Phoenix has launched a mandatory bid for Hornby, after offering to buy a stake from another investor that would gave it a 55% holding in the firm.

    The offer, of 32.375p per share, values Hornby - which also owns the Scalextric and Airfix brands - at £27.4m.

    Hornby has said it will write to shareholders but asks them to take no action for the time being.

  6. Japan shares up despite Takata bankruptcy

    Japanese shares have risen slightly on Monday despite the much-anticipated bankruptcy filing by airbag maker Takata.

    The Nikkei 225 index added 0.1% to 20,157 by early afternoon.

    "Takata's bankruptcy is bad news, but since the market has long known that the company was in trouble, its impact to overall investor sentiment is limited," said Yutaka Miura, at Mizuho Securities.

  7. More about the Co-op Bank announcement

    The board of the Co-op Bank says it has decided to discontinue the formal sale process under the UK takeover code, and the Bank is no longer in "offer period" for purposes of the code.

  8. Airbag-maker Takata files for bankruptcy

    The faulty devices have been linked to at least 17 deaths globally

    Japanese car parts maker Takata has filed for bankruptcy protection in the US and Japan.

    It is facing billions of dollars in liabilities over its defective airbags, which have been linked to at least 17 deaths worldwide.

    Some of the airbags contained faulty inflators which expanded with too much force, spraying metal shrapnel.

    US-based Key Safety Systems (KSS) has bought all of Takata's assets, apart from those relating to the airbags.

    The $1.6bn (£1.3bn) deal was announced after the Japanese firm filed for chapter 11 bankruptcy protection in the US, with similar action taken in Japan.

  9. BreakingHolland & Barrett sale confirmed

    Quote Message: L1 Retail, the retail investment arm of LetterOne, has agreed to purchase Holland & Barrett for #1.77 billion. The transaction is expected to close by September 2017 subject to customary regulatory approvals. from L1 Retail
    L1 Retail
  10. Brexit trade talks 'must come soon'

    BBC Radio 5 live

    Theresa May will set out more details this afternoon of her offer to guarantee the rights of European Union citizens living in the UK after Brexit. Last week, Mrs May said the government would give EU nationals in Britain "settled status" - as long as British people elsewhere in Europe received similar treatment.

    And many in the business world would like to see this matter dealt with quickly so that talks between the UK and EU can move on to the issue of trade.

    "What really matters are the trade deals," Laura Foll, fund manager at Henderson Global Investors, told Five live's Wake Up To Money programme earlier.

    "What businesses are feeling is that they want this initial part around citizenship resolved... and then to get onto the matters around trade."

  11. Business confidence on the up, Lloyds survey finds

    Lloyds Bank

    Lloyds Bank’s Business in Britain’s report shows that business confidence has risen to an 18-month high, following a four year low from its survey in September 2016.

    The Lloyds Bank Business in Britain report's confidence index rose to 24% - double the level immediately following the EU referendum last year.

    The index is a measure of expected sales, orders and profits.

    There are strong confidence gains in construction, retail, and other services sectors.

  12. Crown Resorts staff jailed for enticing Chinese gamblers

    Three Australian employees of casino group Crown Resorts have been jailed after pleading guilty to illegally promoting gambling in China.

    Jason O'Connor, a senior executive in charge of attracting Chinese high-rollers, was sentenced to 10 months by the Baoshan District Court in Shanghai.

    Jerry Xuan and Pan Dan received nine-month jail terms. All are likely to be freed soon after time spent on remand.

    Casino gambling, and promoting gambling abroad, are illegal in mainland China.

  13. Italy forced to bail out two more banks for 5.2bn euros

    Intesa Sanpaolo will take on the two failing banks' good assets

    Overnight it emerged that Italy's government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn).

    The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail.

    The banks' "good" assets will be taken on by Intesa Sanpaolo banking group.

    Italian Prime Minister Paolo Gentiloni said the rescue was needed to protect savers and ensure "the good health of our banking system".

  14. Holland & Barrett 'sold for £1.8bn to Russian billionaire'

    Holland and Barrett shop

    Holland & Barrett, the UK's biggest health food retailer, is being bought by a Russian billionaire for £1.8bn.

    L1 Retail, a fund controlled by Mikhail Fridman, is buying the 1,150-store chain from Carlyle, the US private equity firm, the Financial Times reported.

    Carlyle acquired Holland & Barrett as part of its $3.8bn purchase in 2010 of US firm Nature's Bounty, now NBTY.

    The chain has about 600 stores in the UK as well as China, India and the UAE.

  15. Good morning

    Welcome to Monday's Business Live page. There has been a flurry of business stories overnight, and Brexit talks also resume between the UK and EU in Brussels.