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Live Reporting

Dearbail Jordan

All times stated are UK

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  1. Good night

    Test card F

    Thank you for joining Business Live today.

    We hope to see back with us on Wednesday when we'll get the first reading of UK GDP for the second quarter.

    Until then, have a good evening.

  2. Watch: Counting the bitcoins

    Eleesa Dadiani is the owner and founder of Dadiani Fine Art, an art gallery on London's upmarket Cork Street.

    She thinks accepting cryptocurrencies like Bitcoin as payment will be an investment in the future of her business.

    Video content

    Video caption: Bitcoin - that'll do nicely
  3. Markets close

    US stock market traders

    The Dow Jones ended the day at 21,613.56 that was a rise of 100.39 points or 0.47%.

    The S&P 500 was up 7.17 points or 0.29% at 2,477.08.

    And the Nasdaq was only 1.37 points higher or 0.02% at 6,412.17.

  4. Debating the bill

    As the US votes to debate a new Republican healthcare bill President Trump has tweeted his gratitude to Senator John McCain for making his way to the chamber despite his illness.

    View more on twitter

    But Nobel prize-winning economist and New York Times columnist Paul Krugman points out one drawback.

    View more on twitter
  5. Bit sticky after 3M posts its results

    Coming up to the end of the trading day on Wall Street and it looks as though 3M may be today's biggest loser in the Dow Jones, with its shares down around 5.4%.

    The maker of Scotch Tape and Post-it Notes told investors earlier in the day it had seen weaker-than-expected sales growth over the last few months.

  6. Watch: Blowing in the wind

    Its turbines are than Big Ben with the power to fuel thousands of homes. Welcome to the world's first floating wind farm.

    Video content

    Video caption: World's first floating offshore wind farm in Scotland.
  7. Stocks edge upwards

    So the US Senate has voted to start a debate on healthcare by the slimmest of margins.

    The Dow Jones Industrial Average has inched up and is now trading 119.51 points ahead at 21,632.68.

    The S&P 500 is up 9.22 points at 2,479.13.

    The Nasdaq is up 8.21 points at 6,418.98.

    View more on twitter
  8. Markets up ahead of US healthcare vote

    The Dow Jones Industrial Average has trimmed gains just a little as the Senate votes to debate its proposed repeal of Obamacare.

    It is now up 117.76 points at 21,630.93.

    The S&P 500 is up 8.83 points at 2,478.74.

    The Nasdaq is up 7.01 points at 6,417.83.

  9. Former Twitter boss weighs in on AI debate

    Artificial technology

    The former boss of Twitter, Dick Costolo, has added his 2p worth to the debate over artificial intelligence between fellow tech giants Elon Musk and Mark Zuckerberg.

    Mr Costolo told CNBC: "I'll play diplomat and say I think what Elon meant to say is that Mark's view of this is optimistic. I do tend to take the more pessimistic view that it will be hard to keep general AI in a box."

    He added: "If you hypothesize that we could create intelligence greater than ours, it's pretty easy to jump from there to think that intelligence would be able to figure its way out of any sort of logical box you try to put it in.

    "Mark tends to be much more of an optimist on the future of technology."

  10. Oil price breaks through $50 a barrel

    US oil rigs

    Brent crude has surpassed $50 a barrel, after rising 2.9%, for the first time since early June.

    West Texas Intermediate still has a little way to go before reaching that benchmark but on Tuesday it was ahead 3.1% at $47.78 a barrel.

    Brent crude

    Lower prices may be affecting US shale production, according to Mark Watkins, regional investment manager at US Bank.

    "Companies are not drilling as fast they had been in the beginning of 2017. They're not producing as much because it's much less profitable with prices in the low $40s."

  11. IMF predict 'modest' rise in post-Brexit charges

    The International Monetary Fund reckons that there would only a modest increase in transaction costs if clearing and other financial move from London to the European Union after Brexit.

    The IMF said in a report: "Brexit is likely to transform the financial landscape, with some market activity migrating to EU-27."

    It said clearing and "securities transactions" could be moved from London, causing higher transaction costs during the transition. But "the impact is likely to be modest", it said.

  12. Watch: Rehab for hackers

    And you thought your teenager's messy bedroom was a problem.

    The National Crime Agency has started the UK's first 'rehab' course for hackers, to explain to attendees what is illegal online.

    Video content

    Video caption: UK's first boot camp hopes to reform teenage hackers
  13. GDP a 'scoreboard for Brexit'


    One of the key pieces of economics data to emerge this week is the first reading of Britain's GDP growth for the April to June period.

    The ONS will reveal the figure on Wednesday and the consensus points to a rise of 0.3% compared to 0.2% growth in the first quarter.

    Laith Khalaf, senior analyst, Hargreaves Lansdown, says: "The GDP growth number is very politically charged at the moment, because it acts as a scoreboard for Brexit.

    "A growth number close to 0.3% could probably best be described as muddling through.

    It would be higher than the dire economic forecasts we saw in the immediate aftermath of Brexit, though it makes the latest Bank of England prediction for 1.9% growth this year a bit stretched, and requiring a significantly stronger second half of the year."

  14. Tinker, tailor, soldier, vacuum cleaner

    The Roomba smart vacuum
    Image caption: A spy in our midst? The Roomba smart vacuum cleaner

    IRobot, the maker of the Roomba smart vacuum, could one day sell data drawn from the maps the devices build up of individual homes as they clean.

    The Roomba is an automated floor cleaner that can be activated via an app and find its own way around, using sensors and a camera.

    Founder Colin Angle said the data they gathered could be used to make other devices work better in a smart home.

    Nothing would be done without the owner's consent, he added.

    Read the full story here.

  15. The sun shines on America

    American flags

    Consumer confidence in the US rose to a near 16 year high in July, according to new data.

    The Conference Board said its consumer confidence index surged to 121.1 this month, the second highest reading since 2000, from 117.3 in June.

    Chris Rupkey, chief economist at MUFG, said: "This brightens the outlook for the economy as we enter the second half of the year.

    "We expect Fed officials will continue with their gradual pace of rate hikes secure in the knowledge that a confident consumer means that more spending is on the way."

    The US Federal Reserve is due to announce its latest monetary policy decision on Wednesday.

  16. Listen: selling an icon

    BBC World Service

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