That's it from us tonight. We'll be back again at 6am sharp tomorrow so do join us then.
- Get in touch: firstname.lastname@example.org
- L'Oreal sells The Body Shop to Brazilian firm
- FTSE 100 ends day down by 0.17% at 7,434.36
- IMF cuts US economic growth forecasts
- EU slaps Google with £2.1bn fine
- Bank of England makes banks put aside more money
It's been a weak day on Wall Street with all three indexes finishing lower again.
The delay in the healthcare bill vote in the US Senate has rattled investors, who fear President Trump's plans for reform could be derailed.
Trump has said repeatedly he wants to repeal and replace Obamacare before moving on to other issues including tax reform.
The Dow Jones Industrial Average fell 98.89 points, or 0.46% to 21,310.66, the S&P 500 lost 19.69 points, or 0.81%, to 2,419.38 and the Nasdaq Composite dropped 100.53 points, or 1.61%, to 6,146.62.
If you're struggling to remember what the difference between a hard Brexit and soft Brexit is, then here's a handy reminder from BBC economics editor Kamal Ahmed.
- Copyright: Reuters
US Federal Reserve Chair Janet Yellen has urged a "soft Brexit" for the UK.
In an interview with the BBC's economic editor Kamal Ahmed, Ms Yellen said maintaining "deep ties" between the UK and the EU was important:
"There are very deep ties between Britain and the European Union and that there will be a desire to make sure that the economic value of that remains to the maximum extent possible."
Me Yellen also warned there would be "a lot of uncertainty".
"That will affect households and business decisions as it unfolds so I’m not a prognosticator about where these discussions are going but they certainly will have a bearing on key economic decisions," she said.
- Copyright: BBC
Parts of Africa could suffer a massive unemployment crisis by 2040, according to new research from the Tony Blair Institute.
"This would have serious implications: for the continent and its people, for the prosperity and stability of dozens of countries, and even for the global economy and security," the research found.
The labour force in sub-Saharan Africa will be 823m by 2040, up from 395m in 2015. However, total number of jobs is only expected to hit 773m, leaving 50m people without a job.
The report found that countries with high economic potential - such as Ghana, Kenya, Liberia, Malawi, Nigeria and Sierra Leone - were failing to achieve growth.
It called for governments to pursue "inclusive growth" strategies and said countries such as Botswana, Ethiopia and Mauritius had made significant progress because political leaders had worked alongside stakeholders and development partners.
- Copyright: Getty Images
One in five flights from the UK to popular holiday destinations are delayed by more than 30 minutes, a BBC analysis has found.
Some 38,000 out of 199,000 international flights that ran at least once a day departed late between June and September 2016.
Most were from London airports - Luton, Stansted, Gatwick and Heathrow.
The BBC analysed Civil Aviation Authority data from 25 airports.
The figures do not cover flights that were cancelled.
- Quote Message: Like for like sales at stores that have been refurbished are up 5% - a very encouraging sign that the programme is working. Investors are seeing this as a glass half full. But doubts remain with the stock down a fifth since April. Carpetright has suffered a serious decline since last June as investors shy away from companies whose chief exposure is to UK consumers. Any turnaround has to be viewed in the context of a very tough market that might get tougher yet as inflation climbs and wages fail to keep pace. from Neil Wilson Senior market analyst, ETX Capital
- Copyright: Getty Images
Let's catch up with the position at the close of trade in London for one of the day's big movers.
Carpetright's shares closed up by 10.42% even though full-year pre-tax profits at the floor coverings specialist sank to £0.9m from £12.8m last year, with much of the fall due to the firm putting aside more money to cover onerous lease costs on loss-making stores.
But it said recent trading had been "encouraging" with UK like-for-like sales up 2% helped by its store refurbishment programme.
US Federal Reserve chair Janet Yellen said in London that that she does not believe that there will be a run on the banking system at least as long as she lives. Here's that quote in full.Quote Message: Would I say there will never, ever be another financial crisis? You know probably that would be going too far but I do think we're much safer and I hope that it will not be in our lifetimes and I don't believe it will be. from Janet Yellen Chair, Federal Reserve
As we flagged up earlier (See post at 3pm) Federal Reserve chair Janet Yellen is speaking in London and the BBC's economics editor, Kamal Ahmed is there.
- Copyright: Reuters
Facebook has announced that it now has 2 billion active users every month.
In a statement the company said: "Each day, more than 175 million people share a Love reaction, and on average, over 800 million people like something on Facebook.
"More than one billion people use Groups every month," it added.
Radio 4 PM
New figures from the Bank of England confirm a rapid increase in consumer credit, which is growing much faster than the economy itself.
The Bank has forced banks to find a further £11.4bn in the next 18 months to beef up their finances against the risk of bad loans.
Merryn Somerset Webb, editor of Moneyweek magazine, told Eddie Mair that the action "should also make the consumer stop and think".
She said "in the end [the Bank of England] will have to raise interest rates" but these are "small changes" which will not effect the average person who can afford their debt.
And here are the UK's bottom 10 retail locations as ranked by property advisers Harper Dennis Hobbs:
- Shields Road, Byker, Newcastle-upon-Tyne
- Harrow Road, Paddington, London
- Stretford, Greater Manchester
- Tonypandy, Wales
- Walton Road, Liverpool
- Burnt Oak, north London
- Kirkby, Merseyside
- Selly Oak, Birmingham
- Shettleston Road, Glasgow
Radio 4 PM
A former deputy director for Intelligence and Cyber Operations at GCHQ has said it is "extraordinary" that a number of large corporations "haven't put up-to-date patches into place" to protect themselves from the spread of a cyber-attack.
Brian Lord, who now runs the cyber security company PGI, told Eddie Mair that after the Wannacry attack last month a patch was created that "would have limited the spread of the new ransomware".
He said corporations "could have and should have" put patches into place.
More on the survey of the UK's best and worst places to set up shop.
Here's the list of the top 10 retail locations according to property advisers Harper Dennis Hobbs:
- Westfield, London
- Wimbledon Village
- Canary Wharf
- Copyright: Harper Dennis Hobbs
Shields Road in Byker, Newcastle-upon-Tyne (pictured) is the least attractive location to open a shop, according to a list ranking Britain's retail centres.
Property advisers, Harper Dennis Hobbs judged 1,000 shopping districts on how well the store mix suited local needs.
They also looked at vacancy rates and the numbers of "undesirable" shops such as pawnbrokers or betting shops.
Cambridge moved up this year's rankings and was rated the UK's most vibrant retail centre.
World Service economics correspondentCopyright: Getty Images
The International Monetary Fund (IMF) has cuts its growth forecasts for the US economy due to uncertainty about White House policies (See post at 2.21pm).
It now expects growth of 2.1% in 2017 and 2018, against earlier estimates of 2.3% in 2017 and 2.5% in 2018.
The forecast is also below the 3% rate targeted by the White House.
The BBC World Service economics correspondent, Andrew Walker, has been poring over the findings:
"There are some features of this report that must make uncomfortable reading at the White House, suggestions of a struggle to agree policies and concerns about the impact on poorer Americans.
"The IMF’s forecasts were initially raised on the Trump administration’s desire to reform taxes and boost infrastructure.
"Now it’s a case of as you were, due to 'differences on a range of policies within the administration' and IMF doubts about whether the “proposed policy strategies are best suited to achieve their intended purpose”.
"And as for the current budget plan, the IMF’s economists say it seems to place a 'disproportionate share of the adjustment burden on low and middle-income households'".