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  1. Get in touch:
  2. FTSE 100 ends lower
  3. China's Great Wall eyes Fiat Chrysler bid
  4. Sterling at $1.29, 1.09 euros
  5. Wealth manager Rathbone in takeover talks

Live Reporting

By Karen Hoggan

All times stated are UK

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  1. China unhappy at US investigation

    Intellectual property theft is estimated to cost the US up to $600bn a year
    Image caption: Intellectual property theft is estimated to cost the US up to $600bn a year

    China is deeply unhappy that the US has launched an investigation into the alleged theft of American intellectual property.

    According to Reuters, China's Commerce Ministry expressed "strong dissatisfaction" with the probe.

    It said in a statement that it would take appropriate measures to defend the country's lawful interests, and that Washington should respect the facts and act prudently.

  2. Rosneft, partners ink $12.9 billion deal for India's Essar Oil

    Man rides bike past an Essar Oil refinery

    Russia is making a huge investment in India.

    Russian oil major Rosneft will buy a 49% stake in India’s Essar Oil. An investment consortium of Trafigura and United Capital Partners will share a separate 49% stake, in deal worth $12.9bn (£10bn).

    The purchase, initiated two years ago, will give Rosneft access to India’s growing fuel retail market.

    Essar Oil owns India’s second largest refinery and around 3,000 fuel retail outlets.

  3. Great Wall Motors 'seeks talks with Fiat Chrysler'

    Fiat Chrysler

    China's Great Wall Motor Company is reportedly seeking talks with Fiat Chrysler Automobiles in order to make an offer for parts or all of the business.

    Automotive News reports that Great Wall has contacted Fiat Chrysler and is particularly interested in the company's Jeep brand and its truck maker Ram

    Great Wall Motors makes cars and trucks. It also produces SUVs under the Haval brand.

  4. Total expands in North Sea with Maersk deal

    Oil rigs

    French energy giant Total has significantly increased its presence in the North Sea by acquiring Maersk's oil and gas division for $7.45bn (£5.79bn).

    The Danish conglomerate, which also operates in the transport and logistics sectors, has sold the division for $7.45bn (£5.79bn).

    Patrick Pouyanne, Total's chairman and chief executive, said: "The combination of Maersk Oil’s North Western Europe businesses with our existing portfolio will position Total as the second operator in the North Sea with strong production profiles in UK, Norway and Denmark."

  5. Rathbones confirms Smith & Williamson merger talks

    Rathbone Brothers has confirmed that it is in merger talks with Smith & Williamson.

    The wealth manager announced on Monday: "Whilst these discussions have been underway for some time and the boards of both Rathbones and Smith & Williamson are confident that the combination would bring meaningful benefits for the stakeholders of both businesses, discussions are ongoing and there can be no certainty any transaction will be agreed.

    "However, if agreed, any such transaction will be subject to the approval of shareholders."

  6. London stock markets open lower

    The FTSE 100 has opened 14.45 points lower at 7,309.53.

    The FTSE 250 is trading 6.13 lower at 19,620.33.

  7. The importance of being Gary

    Gary Cohn

    Speculation that Donald Trump's chief economic adviser Gary Cohn was contemplating resignation following the US President's comments over Charlottesville moved the stock markets last week.

    Mallory Factor, a visiting senior professor in entrepreneurship and politics at Oxford University and a Republican strategist, tells BBC Today that Trump will hang onto Cohn whose "star has risen greatly".

    He says: "Gary Cohn, the director of the National Economic Council, was at odds with Steve Bannon, [Cohn] is more establishment. The establishment players are now taking over more and more of the White House.

    "That populism, Steve Bannon-type of person is now being minimised in the White House but that also could hurt [Trump] with his base and for his re-election."

  8. Trump support still strong despite business exits

    Donald Trump

    Among last week's many ructions from the White House, two of Donald Trump's business councils were disbanded after a number of departures.

    But the US President won't be losing any sleep over it says Mallory Factor, a visiting senior professor in entrepreneurship and politics at Oxford University and Republican strategist.

    He tells BBC Today: "No, I don’t think he’s going to be losing much sleep. However, he has injured himself by seeing these people desert him the White House. He now has business at odds with him."

    But Professor Factor says that Mr Trump's core base "still supports him strongly and that’s important to him".

    "It is also important to the movement of his populism in the United States. It is a real movement, it is a movement against big business, it’s a movement against the global elites, it’s a movement against the big cities."

  9. Fortescue Metals stock surges on bumper profit

    An iron ore mine in Western Australia

    Shares in Fortescue Metals rallied in Australian trading after the iron ore miner more than doubled its annual profit.

    The firm said higher prices and lower operating costs helped seal a $2.1bn (£1.6 bn) annual profit and announced a record dividend, sending shares up 6.5%.

    The miner also signaled that it will diversify away from its core market of Chinese buyers, to sell iron ore to emerging Asian countries and Europe.

  10. Technology leaders warn of 'killer robots'

    Animatronic baby

    Elon Musk and other technology leaders have issued a stark warning about so-called "killer robots", urging the United Nations to act to prevent a high-tech arms race.

    In an open letter to the UN, they say lethal autonomous weapons threaten a "third revolution in warfare".

    More than 100 robotics and artificial intelligence (AI) industry leaders signed the letter.

    Mr Musk has long spoken out about the dangers of artificial intelligence.

    Read the full story here.

  11. Ofgem targets electricity distributors

    Electricity pylon

    Energy regulator Ofgem has told the UK's electricity distribution network operators (DNOs) that they face having their revenue cut by up to £13.9m if they do not improve customer service.

    Ofgem say the operators are failing to communicate effectively with new larger customers requesting connection.

    It says: "New businesses, generators and housing developers are among those that depend on an efficient connections service."

    The operators will be given a chance to present evidence on their performance. "A final decision on each DNO's performance and whether they will face revenue penalties will be made by the end of November."

  12. Across barriers

    Today Programme

    BBC Radio 4

    Will there be more or less trade barriers when Britain leaves the European Union?

    Professor Alan Winters of the UK Trade Policy Observatory at Sussex University tells the BBC's Today programme there will be more.

    "I agree being free of nearly all trade barriers would certainly be a good thing but we have a situations of having very very few trade barriers with Europe and after Brexit there will be more."

  13. Adding up the benefits of free trade

    Today Programme

    BBC Radio 4

    EU and Union Jack flag

    Professor Patrick Minford of Cardiff Business School, who also leads Economists for Free Trade, says that the UK would be £135bn better off if we scrapped all tariffs.

    Do the Brexiteer's sums add up? Professor Alan Winters of the UK Trade Policy Observatory at Sussex University thinks not.

    While he agrees "that a pretty open trade regime is good for poor countries, for rich countries, just about for everybody", Professor Winters says: "First, they make the claim that trade barriers in Britain are equivalent to a tax of about 20% but they don’t really tell us what those barriers are. The tariffs that Patrick talks about removing average 2 or 3% so there the other 15% is is a bit uncertain."

    He adds: "He also ignores the fact that we get a great deal of benefit from being part of the single European market. It’s very close and the markets gives us the same standards as the rest of this huge market so we can trade very easily, so that’s good for exports. But its also good for imports its means we also have competitive markets here at home."

    View more on twitter
  14. Falconer's first day

    Today Programme

    BBC Radio 4

    Crawford Falconer

    It is a big day for the UK's Brexit negotiations.

    Crawford Falconer starts his job as Britain's chief trade negotiation adviser and he has plenty of experience in this field - he is the former ambassador to the World Trade Organisation.

    Commenting on what Mr Falconer's priorities are, Professor Alan Winters of the UK Trade Policy Observatory at Sussex University says: "I think his most important job is going to be negotiating trade agreements. There certainly are a number of agreements we’re part of already through the EU, we need to negotiate with those.

    "We also need to negotiate as an individual country in the World Trade Organisation which Crawford Falconer knows very well from his previous experience."

  15. Where now for the Co-op Bank?

    BBC Radio 5 live

    Professor Peter Hahn of the London Institute of Banking & Finance questions what will differentiate the Co-operative Bank from other smaller lenders such as Nationwide or Virgin Money once today's £700m rescue goes through.

    The Co-op Bank says that it will retain its ethical lending policy despite the dominance of hedge fund ownership.

    But Professor Hahn wonders if the Co-op Bank's business structure will still be able to support that stance.

    He also points out that "the bank has customers because it has closed branches".

  16. Good morning

    The Co-operative Bank

    Welcome to Business Live and the beginning of a new week.

    Today, investors will vote on a £700m rescue deal for the Co-operative Bank. It is a key moment for the lender but it will leave its parent company, the Co-op with a shareholding of just 1%.

    Will the Co-operative Bank be able to retain its ethical lending edge?