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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Pound down Bank deputy governor comments
  3. Merlin shares plummet despite Peppa Pig plans
  4. Unite welcomes Airbus and Bombardier deal

Live Reporting

By 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 will be back on Wednesday from 6.00am onwards when we will bring you all the breaking business and economics news, including the latest employment and wage growth figures.

  2. IBM beats forecasts

    IBM

    IBM has reported third quarter revenue ahead of expectations.

    Revenue rose to $19.2bn against forecasts of $18.6bn.

  3. US markets close

    The Dow Jones Industrial Average finished within a whisker of 23,000 on Tuesday.

    Although the index briefly surpassed that level, it settled at 22,997.24 after rising 40.28 points.

    S&P 500 closed up 1.72 points at 2,559.36.

    The Nasdaq closed marginally lower at 6,623.66.

  4. BreakingWeinstein resigns from film company board

    Harvey Weinstein

    Harvey Weinstein has resigned from the board of The Weinstein Company.

    The film producer was fired as chief executive on 8 October, however he remained on the board.

    More than 40 women have now come forward with sexual assault allegations against Mr Weinstein.

    Mr Weinstein has "unequivocally denied" any allegations of non-consensual relationships.

    The Weinstein Company is in talks with Colony Capital to secure an injection of capital as well as potentially selling the film production and distribution business to the private equity firm.

  5. Nafta talks to run into 2018

    Canadian, Mexican and US flags

    Talks between the US, Mexico and Canada over Nafta will extend into 2018.

    The three countries said that significant disagreements remained and Canadian Foreign Minister Chrystia Freeland, said: "We've also seen a series of unconventional proposals in critical areas of the negotiations that make our work much more challenging."

  6. 'Silly' to get stuck on EU budget point, says Chancellor

    Chancellor Philip Hammond tells CNBC that the UK is "absolutely ready to negotiate" with the EU

    "The problem is the process that's been laid down which says we can't start talking about the future and our future relationship until we've settled the question of the budget contribution," he says.

    "What we're saying is we can only settle that budget contribution question in the context of knowing what a future relationship is and this seems like a rather silly thing for us to get hung up on.

    "If we could just have a talk about this around a table I'm pretty sure we'll unstick it."

  7. Banks 'want to stay in London'

    Canary Wharf

    Chancellor Philip Hammond says that financial institutions want to stay in London post-Brexit.

    He tells CNBC: "Most of them intend to keep the vast majority of their staff in London and the bulk of their business in London.

    "EU business is only a fraction of London's total business and we're very confident that the UK, that London will remain a global financial centre."

  8. UK ready for all Brexit scenarios, says Hammond

    Philip Hammond

    Chancellor Philip Hammond says the UK is prepared if it doesn't reach a deal with the EU over Brexit.

    In an interview with CNBC, Mr Hammond says: "Our very strong preference is to do a deal with our European neighbours so that we go on working closely together, But of course we're going to be prepared for the eventuality of not reaching a deal.

    Asked what that scenario would look like, he says: "It looks like we have to be ready for a hard customs border, we have to be ready for tariffs on our trade.

    "We don't think it is going to happen but we will be ready by March 2019 just in case that's the outcome."

  9. Social media data shared by spy agencies

    GCHQ
    Image caption: GCHQ is due to offer its view to the court later this week

    UK spy agencies are collecting citizens' social media and medical data, a court has heard.

    The details emerged in a case brought by Privacy International, looking at the legality of mass data collection.

    It said it was concerned that the information could have been shared with foreign governments and corporate partners.

    Read the full story here.

  10. Facebook hardware chief to leave

    Regina Dugan

    The head of Facebook's secretive hardware business - a slightly sinister sounding division called Building 8 - is stepping down.

    Regina Dugan, vice president of engineering, announced she is leaving "to focus on building and leading a new endeavor".

    She says it was a difficult decision but she was inspired by a quote by John F Kennedy:

    John F Kennedy

    "The world is very different now. United, there is little we cannot do… divided, there is little we can do. Let us begin anew — remembering on both sides that civility is not a sign of weakness. And if a beachhead of cooperation may push back the jungle of suspicion, let both sides join in creating a new endeavor, where the strong are just and the weak secure. This will not be finished in the first 100 days. Nor will it be finished in the first 1,000 days. Nor even perhaps in our lifetime. But let us begin."

    "And so, I begin," says Ms Dugan. "I will do my part."

  11. Trump to make Fed decision soon

    US president Donald Trump has just said that he will make a decision over his choice for the US Federal Reserve chair "over the next short period of time".

    Asked if he had a favorite on a list of five names - reported to include Janet Yellen, Gary Cohn, Jerome Powell, Kevin Warsh and John Taylor - he said: "Honestly, I like them all."

  12. Every cloud...

    Reed Hastings

    On Monday night, entertainment streaming giant Netlfix reported better than expected third quarter results.

    But on Tuesday, its share price is trading 1.74% lower at $199.15.

    Still, it's not all bad news. Netflix's co-founder and chief executive Reed Hastings today joined Forbes' 2017 Billionaires List for the first time.

    As one of 22 new entrants, Mr Hastings squeaked past the $2bn cut-off point with a fortune of $2.2bn.

  13. A perfect storm for supermarkets

    Emma Simpson

    Business correspondent, BBC News

    Supermarket logos

    It's hard to keep pace with the scale of cost-cutting and restructuring underway at Britain's biggest grocers.

    They're facing a perfect storm of rising costs and changing shopping habits. And with the competition still cut throat from the discounters, they can't afford to recover those costs by putting up prices too much for the consumer.

    Sainsbury's and its other main rivals are all trying to reduce operating costs and simplify their businesses to make them more efficient. It's a big, structural, shift and painful for all those affected.

  14. All part of the plan

    Since buying Argos last year for £1.4bn, Sainbury's has been expanding the brand to ramp up competition against rivals such as online shopping giant Amazon.

    The supermarket group had set out a three-year plan to save £500m by March 2018.

    However, it has found another £500m of cost savings that could found over the following three years.

  15. Sainsbury's details job cuts

    Sainsbury's

    Sainsbury's is planning to cut 1,400 payroll and human resource (HR) roles at its stores.

    A further 600 will go from group HR and includes roles at Sainsbury's, Argos and Sainsbury's bank.

    Earlier this year, Sainsbury's axed 400 in store jobs as part of a shake up of night shift work.

  16. Sainsbury's: Market is changing at a rapid pace

    Sainsbury

    Sainsbury says the job cuts move follows a consultation with staff.

    It says the restructuring will affect roles in stores, as well as in HR and payroll departments in Manchester, Coventry, Edinburgh and London.

    A Sainsbury's spokesperson said: "The UK grocery market is changing at a rapid pace and it's crucial that we transform the way we operate to meet future challenges and continue to provide customers with best in class service."

  17. Sainsbury cuts up to 2,000 jobs

    Sainsbury says it is cutting up to 2,000 jobs in its human resources and central support departments.

    The supermarket said: “Following a comprehensive review, we are proposing some updates to our HR structures and systems, as well as changes to a number of other support roles, subject to consultation.

    “This has been a difficult decision and we appreciate that this will be a tough time for those colleagues affected by the changes. We will support them in any way we can.”

  18. Google dumps calorie counter

    Cupcakes

    Google has decided to remove an update to Maps that shows users how many calories they would burn if they walked to their destination.

    It follows what the search giant described as "strong user feedback" with many criticising the feature as patronising, shaming and a possible trigger for eating disorders.

    Read the full story here.