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  1. Get in touch:
  2. Microsoft to cut thousands of jobs
  3. Leaders land in Hamburg for G20 summit
  4. US stock markets trade lower
  5. Oil prices rise on lower US inventories

Live Reporting

By Dearbail Jordan

All times stated are UK

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Good night

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Thank you for joining Business Live today.

We will be back at 6.00am on tomorrow with all the breaking business and economics news.

Until then, have a good evening.

Tesla loses top spot

Tesla shares are on course for their worst week in over a year - skidding after lower-than-expected deliveries, rising competition in the electric car market, and today's safety test results.

They've fallen about 13% this week, wiping off nearly $8bn from the company's market value and losing its status as the most valuable US car maker.

View more on twitter

US stock indexes close down

US stock market trader
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The three key US stock indexes closed lower on Thursday following some disappointing labour market figures (see earlier post).

The Dow Jones closed at 21,320.04, a fall of 158 points or 0.74%.

S&P 500 ended the day at at 2,409.75, down 23 points or 0.94%.

And the tech-heavy Nasdaq was at 6,089, 47 points or 1% lower.

NHS using Snapchat to share information

Snapchat app
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Doctors and nurses are using WhatsApp and Snapchat to share information about patients "across the NHS", health professionals have told the BBC.

GP Alisdair MacNair said he was aware of a number of medical groups using WhatsApp to discuss patients.

Use of internet-based messaging apps to send patient information is banned under current NHS guidelines.

Read the full story here.

EU 'should leave door open' to post-Brexit UK

Christine Lagarde and Wolfgang Schauble
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Germany's Finance Minister and the head of the International Monetary Fund (IMF) said that the EU should leave the door open to the UK if it wants to change its mind about Brexit.

Wolfgang Schaeuble said it was not his place to advise the UK but added: "If Britain were to move in this direction, the door would be open, even after Brexit."

The IMF's Christine Lagarde said the decision to leave should not be made irreversible, adding the EU and Britain must continue to cooperate closely.

Qatar Airways cancels Airbus order

Airbus A380
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Airbus has confirmed that Qatar Airways has cancelled an order for four A350s planes because of delays.

Qatar Airways chief executive Akbar Al Baker said earlier on Thursday that any delays were the plane-maker's responsibility.

He said: "We are asking Airbus to deliver it faster. The delay is from Airbus."

A spokesman for Airbus said the cancellations were related to "known supply chain issues" and that the jets will be "reallocated".

Anti-G20 protesters clash with police

Demonstrator at the G20 summit
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The G20 summit in Hamburg officially begins on Thursday but protesters are making their feelings known about the event this evening.

There were demonstrations as world leaders arrived for the gathering.

Riot police in Hamburg
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Riot police used gas and water cannons on demonstrators some of whom, according to Reuters, threw bottles and other missiles.

A planned anti-G20 protest march was called off following the clashes.

Bank official drops rate rise hint

Ian McCafferty (far left)
Bank of England

Another of the Bank of England's Monetary Policy Committee has signaled that interest rates could be going up soon - a decade after the last increase.

Ian McCafferty said that depending on economic data “we would expect to see a couple of modest rate rises over the next couple of years or so”.

Mr McCafferty (far left) likened holding the interest rate at 0.25% to keeping a foot on the accelerator of the economy. “We may need to take a little bit of that away,” he said on LBC radio.

US shares fall on lower jobs data

Sign in window searching for staff
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Lindsey Bell, investment strategist at CFRA Research reckons that the fall in US share prices on Thursday could be because of jobs data which showed that US businesses added 158,000 jobs in June.

This was against expectations of 185,000 new roles.

"The market moves significantly on the jobs report. We are expecting to see a little bit of a rebound from last month, but again we didn't get that in the ADP number today which was also expected to be stronger than what it was," says Ms Bell.

Blue Man deal 'diversifies' circus group

Blue Man Group
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Montreal-based Cirque du Soleil says that its takeover of Blue Man Group is in line with its "vision for the future" as it "looks to further expand globally and diversify its entertainment offering beyond circus arts".

Blue Man Group was created in 1991 by three friends from New York City, Chris Wink, Phil Stanton and Matt Goldman. It has been performed in over 20 countries and seen by more than 35m worldwide since then.

Cirque du Soleil buys Blue Man Group

Tesla shares tumble on car test rating

Tesla Model S
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Shares in the electric car maker Tesla have fallen 5.64% to $277.55 after its Model S vehicle failed to get a top rating in a crash test.

The Insurance Institute for Highway Safety said that despite changes being made to the car, the Model S was again only able to attain an "acceptable" rating in a test that mimics a car hitting a tree or a pole.

As a result, Tesla failed to achieve the IIHS Top Safety Pick rating, which requires a "good" rating in all five of its crash test scenarios, according to Reuters.

Tesla share price

Sellafield firefighters to strike

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Firefighters at the Sellafield nuclear reprocessing plant are to strike after "last-chance" talks broke down.

More than 60 members of the GMB union will stage a series of 24-hour walkouts in a row over pay grades.

The union said members did not want to strike but had been "backed into a corner".

Read the full story here.

Japan wants closer links with UK

BBC presenter Susannah Streeter tweets...

What's spooking US stock markets?

North Korean leader Kim Jong-Un
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North Korean leader Kim Jong-Un watches as a intercontinental ballistic missile is launched

US stocks are still trading down, but why?

Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners, says: "It's the lull before earnings. There's not as much enthusiasm for buying.

"Investors don't think companies will surprise as positively as they did in the first quarter."

Jan Dehn, fund manager at Ashmore, said investors may be spooked for other reasons.

"One is the Middle East and the Qatar-Saudi situation and even the oil market doesn't know how to handle that one," he said. "The second is North Korea, which is classic geopolitical risk, and finally, and probably most importantly, there has been the recent hawkish tilt from the major central banks and it seems to be coordinated."

Japan and the EU push back against isolationism

Shinzo Abe
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Japan's Prime Minister Shinzo Abe has hailed a new free trade deal with the European Union as a show of political will against "a shift toward protectionism".

The agreement, which has taken four years to reach, has been struck the day before the two-day G20 summit begins in Hamburg.

Standing alongside the EU's Donald Tusk and Jean-Claude Juncker, Mr Abe said: "Ahead of the G20 summit tomorrow, I believe Japan and the EU are demonstrating our strong political will to fly the flag for free trade against a shift toward protectionism."

He said the "win-win" deal was "a strong message to the world".

Mr Tusk said: "Although some are saying that the time of isolationism and disintegration is coming again, we are demonstrating that this is not the case."

US oil inventories fall more than forecast

Oil rig worker
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Thursday's rise in oil prices is being propelled by new data from the Energy Information Administration which shows that US inventories fell to the lowest level since January.

Stocks fell by 6.3m barrels in the week to June 30 to 502.9m barrels. Analysts had expected a fall of 2.3m.

Brent crude is up 2% at $48.75 a barrel and West Texas Intermediate rose 2.3% to $46.16 a barrel.

Airbus worried about 'people movement' post-Brexit

The World at One

BBC Radio 4

A senior vice-president at the aerospace firm Airbus has said the company is "more worried about limits on the movement of employees than tariffs on goods", following Brexit.

Katherine Bennett was talking to Radio 4's World at One programme after the European Union's chief Brexit negotiator warned that there could be no 'frictionless trade' between Britain and the EU if it leaves the single market.

She explained Airbus is a company with a large percentage of employees who are non-EU citizens, so it is vital to explain to the government and the EU Commission "the importance of that integrated arrangement being able to continue."

Microsoft shares edge lower

Shares in Microsoft are marginally lower, down 0.77%, at $68.54 after it emerged that it is cutting jobs.

Listen: Get your global business fix

World Business Report presenter Rob Young tweets...

My #business #podcast #EUJapan trade deal winners & losers; #HamburgG20 challenges; a year on from #PokemonGO LISTEN…

Microsoft to cut up to 3,000 jobs

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Microsoft has announced that it is cutting thousands of jobs.

CNBC is reporting that the changes will mostly affect sales and will take place outside the US.

A spokesperson told the channel: "Microsoft is implementing changes to better serve our customers and partners.

"Today, we are taking steps to notify some employees that their jobs are under consideration or that their positions will be eliminated. Like all companies, we evaluate our business on a regular basis. This can result in increased investment in some places and, from time-to-time, re-deployment in others."

UK stocks end the day down

The FTSE 100 has finished the day down 30.97 points at 7,336.63.

The FTSE 250 closed 90.52 points lower at 19,360.70.

The pound is up 0.26% against the dollar at $1.29670.

But it fell 0.23% against the euro at 1.13670 euros.

Qatar Airways to buy American Airlines stake

Qatar Airlines chief executive Akbar al-Baker
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Qatar Airlines chief executive Akbar al-Baker

More news from Qatar Airways. Its chief executive Akbar al-Baker says that the group will go ahead with plans to buy a stake in American Airlines despite the company's opposition.

It emerged last month that Qatar Airways was interested in buying up to 10% of the US carrier would not purchase more than 4.75% without informing the management.

Mr al-Baker said: "We will be able to start buying shares in the open market soon, depending of course on what is the share value."

He added that the boss of American Airlines, Doug Parker, had "categorically told us that he was not interested, that he would not suggest to his board to allow us. However, I told him we can still take 4.75% and we will do that."

"Maybe once we have taken that 4.75 and they see the value that Qatar Airways brings to the table for them that they will reconsider."

QVC-owner buys Home Shopping Network

The owner of QVC is taking full control of the Home Shopping Network in a $2.6bn deal or, as CNN Money puts it, 105 million easy payments of $19.99.

Liberty Interactive is acquiring the 62% of the Home Shopping Network it does not already own.

Merkel: I am not a mediator between Trump and Putin

German Chancellor Angela Merkel
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Chancellor Angela Merkel is speaking before the two-day G20 summit begins on Friday.

Germany is hosting the gathering of world leaders and Mrs Merkel says that the role of the host is "to find compromises".

She also said that she does not see herself as a mediator between US President Donald Trump and Russia's leader Vladimir Putin.

Earlier today in Poland, Mr Trump rebuked Russia for its "destabilising activities in Ukraine and elsewhere". Mr Trump and Mr Putin are due to meet tomorrow.

US services rise fails to lift stocks

A waitress in the US
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Better than expected activity in the US services sector failed to stem a sharp fall in shares.

The Institute for Supply Management said that its index of non-manufacturing activity rose to 57.4 in June from 56.9 in May. Economists had expected a reading of 56.5, according to Reuters.

The Dow Jones Industrial Average is now down 103.13 points at 21,375.04.

The S&P 500 is trading 15.70 points lower at 2,416.84.

The Nasdaq is off 56.30 points at 6,094.56.

Jeremy Corbyn

Labour's leader says he is not "one of the doom-mongers" about automation but the state must act to help workers.

Read more

Sexual harassment in Silicon Valley


Tech entrepreneur Cheryl Yeoh has spoken out about the sexual harassment she has faced in the industry.

She was encouraged to talk about her experience after another woman exposed the behaviour of Dave McClure, co-founder of 500 Startups, who subsequently resigned.

Here, Ms Yeoh tells her story and why she decided to talk publicly about the incident.

World leaders arrive for G20 summit

Donald and Melania Trump
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US President Donald Trump and First Lady Melania Trump

US President Donald Trump has landed in Germany for the G20 summit.

Mr Trump, who was accompanied by his wife Melania, is due to meet with Russia's President Vladimir Putin on Friday.

The summit on 7-8 July, will be the first time Mr Trump has faced international leaders since announcing plans to pull the US out of the Paris climate change accord.

Canadian Prime Minister Justin Trudeau, his wife Sophie Gregoire and son Hadrien
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Canadian Prime Minister Justin Trudeau, his wife Sophie Gregoire and son Hadrien

Canadian Prime Minister Justin Trudeau arrived in Hamburg with his wife Sophie Gregoire and their son Hadrien.

Mr Trudeau recently met with the Queen in Scotland.

Chinese President Xi Jinping with First Lady Peng Liyuan
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Chinese President Xi Jinping with First Lady Peng Liyuan

China's President Xi Jinping was joined by First Lady Peng Liyuan.

The G20 summit has coincided with growing tensions between the US and North Korea, with Mr Trump claiming that China is not doing enough to control the neighbouring country.

Feel the squeeze

Petrol and diesel: end of the road?

Nicolas Hulot making speech
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You won't be able to buy a diesel- or petrol-powered car in France after 2040. That's the vision at least of France's new ecology minister and veteran environment campaigner, Nicolas Hulot, who has been outlining his plans to tackle carbon emissions.

He admits it's a tough target - Peugeot and Renault no doubt concur - but he reckons France's car-makers can do it.

After all Norway and The Netherlands are also setting out on a similar road.

And Germany already has its foot on the accelerator, aiming to put one million electric cars on the road by 2020.

Oil prices rebound

US oil rigs
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Oil is climbing back up towards $50 a barrel after steep falls on Wednesday.

Brent crude rose by 1.7% to $48.60 a barrel and West Texas Intermediate increased by 1.8% to $45.94.

Later today, the US Energy Information Administration will release its weekly data on oil inventories.

US stocks fail to arrest decline

Man walks past Verizon store
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Telecoms group Verizon Communication is leading the Dow Jones Industrial Average lower. Its share price is down 1.52% at $43.97.

Overall, the index is down 65.96 points at 21,412.21.

The S&P 500 is off 13.14 points at 2419.40 and the Nasdaq is down 32.46 points at 6,118.40.

Airbus model

EU negotiator says the Flintshire wings plant could see restrictions on movement of parts and staff.

Read more

US gives go-ahead for Qatar Airways to lift laptop ban

Qatar Airways plane
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Qatar Airways has announced that it has been approved by the US Department of Homeland Security to allow passengers carry personal electronic items on board US- bound planes flying from Doha.

It said: "The airline gained the exemption earlier today after US officials inspected the security measures in full operation at Qatar’s state-of-the-art Hamad International Airport."

US stock markets open lower

The Dow Jones Industrial Average has opened 59.35 points lower at 21,418.82.

The S&P 500 is also down, off 9.67 points at 2,422.87 and the Nasdaq has fallen 38.85 points at 6,112.01.

Mike Ashley - Obi-Wan Kenobi or Darth Vader?

Simon Jack

BBC Business Editor

Mike Ashley, founder of Sports Direct

Sports Direct founder and billionaire owner of Newcastle United Football Club Mike Ashley is back in the High Court, being as entertaining as usual.

But BBC business editor Simon Jack asks is Mr Ashley a maverick...or a monster?

Read his full blog here.

Airbus 'worried about migration post-Brexit'

The World at One

BBC Radio 4

Airbus worker
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So what are Airbus' main concerns from Brexit?

Katherine Bennett, senior vice president at the aerospace firm, says it's more worried about limits on the movement of employees than tariffs on goods.

The diversity of cultures at its Bristol and Broughton plants are part of its success, she tells the World At One.

Airbus is also confident it will get over the barriers on trade, she says, whereas it'll possibly be the firm's smaller UK suppliers "who need help".

The aerospace giant is talking to ministers and small businesses about how to minimise the disruption. "Government is like your digestion ... you shouldn't ignore it," she adds.

Watch: Can business trust Labour?

Jeremy Corbyn has told the British Chambers of Commerce conference that Labour must embrace technological change.

Daily Politics reporter Ellie Price looks at the party's relationship with business, and whether it is now trusted by the City.

Lord Kinnock on Labour's City policies and credibility