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Live Reporting

By Chris Johnston

All times stated are UK

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  1. We need to talk about Brexit

    JD Wetherspoon

    True to form, Tim Martin, the chairman and founder of JD Weatherspoon, has commented extensively on Brexit in the pub group's full-year figures.

    Within the results statement, Mr Martin quotes - and provides - an article from The Spectator about "pro-Remain 'elites'", advises that "Juncker, Barnier, Selmayr, Verhofstadt and others need to take a wise-up pill" and talks about a piece he has written about for Wetherspoon News.

    And by the way, the company's sales are encouraging.

  2. Fast fashion revolution

    London Fashion Week

    London Fashion Week is about to kick off, but it seems that consumers are moving away from established high street fashion brands and luxury labels, and instead snapping up clothes from "fast fashion" names online.

    The UK's fashion industry currently contributes £28bn to the economy and supports 880,000 jobs, and online fashion has increased to 24% of the total spend.

    In the last 12 months alone, almost seven out of 10 women have bought clothes online.

  3. JD Wetherspoon sales and profits soar

    Like for like sales at pub group JD Wetherspoon rose by 4% in the year to July.

    The pubs group reported full-year revenues at £1.6bn compared to £1.5bn.

    Pre-tax profits are up at £102.8m from £80.6m in the previous year.

  4. Pound hits one year high

    Sterling continued its rise against the dollar on Friday morning and is now above $1.34 after the Bank of England dropped a strong hint that the interest rate could rise sooner rather than later.

    It edged 0.10% higher to $1.34110, the highest since September last year.

    Pound v dollar
  5. Baby steps needed for rate rise

    BBC Radio 5 live

    Jagjit Chadha, a director at the National Institute of Economic and Social Research, believes that the Bank of England should start raising the interest.

    However, he tells Wake Up to Money that it is important that the Bank provide guidance on where it expects borrowing costs will go. This would keep consumers from panicking at the prospect of a return to the double digit interest rates the UK saw in the late 1970s and 1980s.

    He adds that the Bank of England doesn't necessarily need to raise rates in 50 basis points (or 0.5%) increments. Instead, he says it could take "baby steps" of 10 basis points at a time.

  6. Weaker pound boosts UK manufacturing

    Economist Vicky Pryce raises an interesting point (see post at 06.17) about the upturn in UK manufacturing activity on a weaker pound.

    At 9.30, the Office for National Statistics will release a report on the impact of the weaker pound on prices and turnover in the manufacturing sector.

  7. Too soon to raise rates, says economist

    BBC Radio 5 live

    Bank of England

    If it was up to economist Vicky Pryce, she would keep the interest rate at its record low for as long as she possibly could "because the economy has not recovered".

    Ms Pryce, a board member at the Centre for Economics and Business Research, tells Wake Up to Money that one of the only bright spots for the UK economy is that manufacturing is picking up, with exports and production ahead thanks to a fall in the value of the pound.

    She points out that the Bank of England expects inflation - currently 2.9% - to peak in October, so why raise interest rates now?

  8. Good morning

    Welcome to Business Live.

    The ones to watch on Friday include a speech this morning by Gertjan Vlieghe, a member of the Bank of England's Monetary Policy Committee, at the Business Economists' Annual Conference.

    His comments will be poured over following indications from the Bank's on Thursday that interest rates could rise sooner than expected.

    JD Wetherspoon will announce its full-year results at 7.00am. Expect colourful comments from its chairman and Brexiteer Tim Martin.

    And London Fashion Week begins. On Friday, shows will include Aquascutum and purveyor of glorious knitwear John Smedley.