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  1. US markets greet news of 209,000 jobs in July
  2. RBS shares rise on return to profit
  3. RBS will move post-Brexit HQ to Amsterdam
  4. Trump hails Toyota-Mazda US plant plans
  5. Ben Broadbent says consumer debt not a big issue

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 for a busy week of news.

We will be back bright and early at 6.00am on Monday morning - we look forward to you logging on for all the breaking business and economics stories.

Until then, have a great weekend.

How one man built a $51m theme park for his daughter

Gordon and Morgan Hartman

A father from Texas realised there were no theme parks where his disabled daughter could play. So he decided to build one.

Gordon Hartman had just got out of the swimming pool on a family holiday, when his 12-year-old daughter Morgan went up to some children playing in the water. She tried to make friends with them but they quickly left the pool.

Hartman thinks they shied away from her because they didn't know how to react to someone with a disability - Morgan has the cognitive understanding of a five-year-old as well as a form of autism.

The incident played on his mind.

Read more here.

Wannacry money laundering attempt thwarted

The ransomware sought a payment before it would decrypt files

The hackers behind the Wannacry ransomware have tried to conceal who they are by using a virtual currency that is more anonymous than Bitcoin.

Victims paid more than $140,000 (£107,000) in bitcoins to recover files scrambled by Wannacry.

Earlier this week the gang behind the attack started to move the bitcoins out of the wallets they were paid into.

Read the full story here.

Wall Street closes higher after strong jobs report

US stock market trader
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Wall Street has closed higher after a better-than-expected US jobs report. This could clear the way for the Federal Reserve to announce a plan to start shrinking its $4.5trn bond portfolio in September, and could strengthen its case to raise rates for the third time this year in December.

The Dow Jones Industrial Average was up 64.72 points, or 0.29%, at 22,090.82 and the S&P 500 was up 4.65 points, or 0.19%, at 2,476.82. The Nasdaq Composite was up 11.22 points, or 0.18%, at 6,351.56.

Watch: Fixing cars and stereotypes in Senegal

"In the end people judge you on what you can do," says car mechanic Fatou Sylla.

She tells the BBC's Vumani Mkhize how she and a friend set up a female-run car repair firm in Senegal's capital Dakar.

US 'set for one more interest rate rise'

US jobs
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What do the stock markets make of Friday's US new jobs figures for July?

Eric Wiegand, senior portfolio manager at US Bank Private Client Reserve, reckons the Federal Reserve will begin to unwind its economic stimulus programme.

"It's encouraging to see average hourly earnings come in line after falling the previous month.

"I do think it (validates the Fed). Our expectations continue to be that we'll see a measured, moderate, deliberate reduction of the balance sheet and we're likely to see one more rate hike in the latter part of the year."

Watch: Million dollar idea - the Tetra Pak

The BBC's Aaron Heslehurst takes a look at the deceptively simply - but incredibly lucrative - Tetra Pak.

How the Tetra Pak became a million dollar idea

Eggs at the push of a button

First it was Uniqlo shirts at an airport, then it was fresh oysters in France. Now a farm is selling eggs via a vending machine.

What's next?

View more on twitter

China and Germany to report trade data

Donald Trump
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Expect some interesting tweets from US President Donald Trump next week.

China and Germany are due to publish trade figures next week, both of which are likely to show a surplus with the US.

Yang Zhao, chief China economist at Nomura, told Reuters: "We see a bumpy road ahead for the trade relationship between the two countries.

"But it is unlikely that the two nations will enter a true trade war."

Peter Dixon, global financial economist at Commerzbank, concurs: "Do I think that the US will be dumb enough to go ahead and put in place a series of measures which will act as an obstacle to trade with these countries? I suspect not."

Standard Chartered says Brexit relocation to cost $20m

Standard Chartered will have to spend about $20m making Frankfurt its European base after Brexit, chief executive Bill Winters has said.

Banks have started to set contingency plans in motion so they can retain EU market access.

Mr Winters added: "One question is where can people sit after Brexit?"

"It would be costly to physically move all your people who deal with a European client. Basic sales staff and relationship managers are already in situ across the continent."

Former VW executive 'broke trust of US customers'

Volkswagen car production
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More on Oliver Schmidt, the former Volkswagen executive who pleaded guilty in a Detroit court to charges in relation to the diesel emissions scandal.

Deputy Assistant Attorney General Jean Williams, says: "Schmidt participated in a fraudulent VW scam that prioritized corporate sales at the expense of the honesty of emissions tests and trust of the American purchasers.

"Schmidt, along with each and every official involved in this emissions scandal, will be held fully accountable for their actions by the Department of Justice as this investigation continues."

Under a plea agreement, Mr Schmidt faces up to seven years in prison and a fine of between $40,000 and $400,000 after admitting to conspiring to mislead US regulators and violating clean air laws.

US oil rig count edges down

US oil rig
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Oil prices have been lifted by a fall in the number of active rigs in the US.

Drillers cut one oil rig in the week to 4 August, according to energy services company Baker Hughes, to take the total count down to 765.

However, it is ahead of 381 active oil rigs in the same week last year.

Oil prices rebound

Oil prices have reversed and are now trading up.

Brent crude is ahead 0.3% at $52.16 a barrel. West Texas Intermediate is up 0.6% at $49.33.

Blue Apron to cut strings with staff

Blue Apron is a US meal-kit delivery company which floated in New York in June.

A little over a month later, it has announced some 1,270 jobs will be cut because it plans to close a facility in New Jersey and move the plant 15 miles away.

Blue Apron floated at $10 a share, and it is now trading at $6.12.

Blue Apron share price

Bridging the gulf

BBC Radio 5 live

Electric cars
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While Quentin Willson likes electric and hybrid cars - he drives a Nissan Leaf himself - he points out that there is a wide gulf between getting people to switch over from their diesel-fueled vehicles.

He told Radio 5 Live Drive: "We’re only talking about 100,000 cars in the UK compared to 1.7m diesel cars. It is a great rise but it just shows how long we’ve got to go to get that 100% electrification by 2040."

UK diesel car market faces a 'cliff edge'

BBC Radio 5 live

Diesel fuel
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OG Top Gear presenter and journalist Quentin Willson reckons that sales of diesel cars are facing "a cliff edge" in the UK because of people are so uncertain over what vehicles to buy.

Commenting on new car registrations data for July, he told Radio 5 Drive: "We've seen a lot of uncertainty in consumers' minds over the diesel market over the last two years and this has affected sales.

"Then Michael Gove's recent announcement of banning all petrol and diesel cars and hybrids by 2040 has also created even more uncertainty. Throw in Brexit and we're looking at really some startling figures here."

Mr Willson: "If you really wanted to really destabilise the market, this is the way to do it - talk about political uncertainty of Brexit and talk about the political impossibility of us running diesels and all of a sudden you've got this cliff edge."

Cooking for armageddon

That's entertainment for the FTSE

The Skull Island Experience at Madame Tussauds in New York
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The Skull Island Experience at Madame Tussauds in New York

The FTSE 100 has closed up 40.37 points at 7,515.14.

Madame Tussauds-owner Merlin Entertainment led the risers, with its share price up 5.68% at 489.10p following strong results.

Shares in RBS also ended ahead at 261.70p following a 2.15% rise.

The prospect of the government reviewing its Help to Buy scheme kept the house-builders in the doldrums.

Barratt Development's share price finished 4.53% lower at 590p, Persimmon's stock closed 3.8% down at £24.68 and Taylor Wimpey's shares ended 3.5% off at 188.30p.

The FTSE 250 closed up 61.49 points at 19,969.73.

US stocks trim gains

The Dow Jones Industrial Average has trimmed gains but is still ahead 16.78 points at 22,042.88.

The S&P 500 is up 3.57 points at 2,475.73.

The Nasdaq has added 17.72 points to 6,358.12.

Arrivederci, Mooch - The story of Anthony Scaramucci

Anthony Scaramucci

Anthony Scaramucci was the shortest-serving White House communications director in history. What went wrong?

In the end, the Mooch got stabbed in the back.

Before even the late-night comedians could hone their impressions of the fast-talking, "front-stabbing" man from Long Island, before even his official start date as White House director of communications, Anthony Scaramucci felt the knife go in.

Read more here.

Listen: Brexit, Africa gold and Youssou N'Dour

Youssou N'dour
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The BBC's Russell Padmore talks to the African musician Youssou N'dour about why he got into business. A clue? It involves the taxman.

Listen to the Business Update from the BBC World Service here.

Asos claims 'suspicious activity' on accounts

BBC broadcast journalist Alexander Howick tweets...

The trouble with turbines

The trouble between the EU and Russia revolves around some gas turbines that German industrial giant Siemens says it believed were for a project in Taman, Southern Russia.

Instead, Siemens says the turbines were illegally diverted to Crimea "against its will" and in breach of EU sanctions imposed after Russia's 2014 annexation of Crimea from Ukraine.

Read the full story here.

EU imposes sanctions following Siemens Crimea debacle

Siemens turbine
Getty Images

The EU has imposed sanctions on a number of individuals and companies in relation to the delivery of Siemens to the Moscow-annexed Crimea.

One of the individuals affected by the sanctions is Russia's Deputy Energy Minister Andrei Cherezov who will be stopped from travelling to the EU and any of his assets in the bloc will be frozen.

The blacklisted companies include Siemens' two contracting companies that moved the gas turbines to the Crimea in violation of EU sanctions.

VW executive pleads guilty in emissions case

Oliver Schmidt
Getty Images

Volkswagen executive Oliver Schmidt has pleaded guilty in a US court in Detroit to violating the US Clean Air Law.

The case is linked to the diesel emissions scandal where Volkswagen admitted to installing defeat devices in vehicles to pass pollution tests.

Under a plea agreement, Schmidt is expected to face up to seven years in prison and a fine of between $40,000 and $400,000 after admitting to conspiring to mislead US regulators and violating clean air laws.

US tax bill due in 'early fall'

Gary Cohn
Getty Images

Gary Cohn, the director of the US National Economic Council, said he is hoping to present a tax bill to Congress by "early in the fall".

In an interview with Bloomberg, Donald Trump's economic adviser, said: "I think the members of Congress understand how important tax reform is."

He said that the US tax rate of 35% is above the OECD average of 23% which he said: "Doesn't not make us competitive. We have got to encourage capital to be invested in the United States."

Union flag and eu flag

John Campbell

BBC News NI Economics & Business Editor

The taoiseach mentions two arrangements which he suggests could soften the impact of Brexit across Ireland.

Read more

Government must accelerate industrial strategy, says Unite

Greg Clark
Getty Images
Unite says Business Secretary Greg Clark must kick-start the UK's industrial strategy

Unite the union has told the government to move its industrial strategy "into top gear" after Delphi Diesel Systems announced it would close a plant in Suffolk with the loss of more than 500 jobs.

Delphi, which makes diesel fuel injectors and filters for commercial vehicles, is moving the roles to Romania where Unite says: "the Bucharest government offers greater subsidies."

US-owned Delphi says the site would be scaled down, finally closing in August 2020.

Unite assistant general secretary for manufacturing Tony Burke, says: “It is time for the business secretary Greg Clark to translate the rhetoric of an industrial strategy into practical action to secure essential UK manufacturing jobs, especially in rural Suffolk where such skilled industrial jobs are thin on the ground.

"The minister needs to accelerate into top gear.”

US stock markets open up

The Dow Jones Industrial Average opened up 51.05 points at 22,077.15.

The S&P 500 is up 5.47 points at 2,477.63.

The Nasdaq is ahead 8.20 points at 6,348.54.

Delphi to close plant and cut 5,000 jobs

Engineering company Delphi Diesel Systems is set to close a plant in Suffolk with the loss of 500 jobs, according to the union Unite.

Oil prices fall on rising Opec exports

Oil prices are continuing on their downward trajectory.

Brent crude is off 0.4% at $51.83 a barrel and the West Texas Intermediate is dipped 0.3% to $48.88.

Analysts say that strong output is limiting price rises.

Tamas Varga, analyst at PVM Oil Associates, said: "Increasing OPEC production and increasing OPEC exports are the reason the market has been trading lower."

It's a washing machine Jim, but not as we know it

Jobs data 'a lot of fuss over nothing'

US employment
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Neil Wilson from ETX Capital isn't pulling any punches in how he sees the US market reaction to the July jobs data.

"A lot of fuss over nothing. We’ve just seen wild gyrations in the market to a report that was pretty much as expected.

"The dollar jumped as the report was a little ahead of expectations but there is absolutely nothing in this that changes the dial on the Fed or inflation.

"These market moves look extremely kneejerk and at send time the dollar gains are being pared in short order."

US pay static

Dollar bills
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Americans' average barely budged in July

It grew 0.3% month on month compared to 0.2% in June.

But on an annual basis they grew 2.5%, the same rate as the previous month.

US jobs data 'shows strength of economy'

US jobs data for July "confirms the current strength of the US economy" says Kully Samra, UK managing director at Charles Schwab.

He says the Federal Reserve will probably stick to raising interest rates for a third time this year and announce a plan to start balance sheet reduction, "despite a recent ebb in inflation pressures".

Trump delighted at employment figures

The President of the United States tweets...

US adds 209,000 jobs in July

The US economy added 209,000 jobs in July, and and the unemployment rate was "little changed" at 4.3%, the US Bureau of Labor Statistics reports.

"Job gains occurred in food services and drinking places, professional and business services, and health care," the US government department said.

JK Rowling named world's highest-earning author

JK Rowling

Harry Potter creator JK Rowling has been named the world's most highly-paid author by Forbes magazine, with earnings of £72.2m ($95m) this year.

The Edinburgh-based writer beat Dan Brown, Stephen King and John Grisham to top Forbes' list of the 10 highest earners in the global industry for the first time in almost 10 years.

Fans recently celebrated the 20th anniversary of her first book.

She has written a further six Harry Potter titles.

West Africa's biggest solar plant

West Africa's biggest solar plant

In Senegal electricity shortages are common. In a bid to find a solution, the government has unveiled two solar projects but many people living in rural communities are yet to see the benefits.