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Live Reporting

By Dearbail Jordan

All times stated are UK

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  1. Reckitt reorganises

    Rakesh Kapoor

    Reckitt Benckiser plans to reorganise its business into two units - one for health and the other for hygiene and home products - in a bid to revive its sagging growth.

    The maker of Durex condoms, Nurofen tablets and Dettol cleaners reported its weakest quarter in July, following a series of issues including a collapse of its South Korean business after a safety scandal, a failed product launch and a cyber attack.

    The decision follows the June acquisition of US baby formula maker Mead Johnson, which will account for about half the health unit's sales.

    Chief executive Rakesh Kapoor (pictured) will run the health unit, while Europe and North America boss Rob de Groot will be in charge of the health and hygiene business.

    Reckitt said revenues fell 1% in the three months to September to £3.2bn.

  2. Rio Tinto to 'vigorously defend' fraud allegations

    Coal chute

    Mining giant Rio Tinto has said it will "vigorously defend" itself against SEC allegations of hiding losses by inflating the value of African coal assets.

    "Rio Tinto believes that the SEC case is unwarranted and that, when all the facts are considered by the court, or if necessary by a jury, the SEC's claims will be rejected," the mining giant said.

    The SEC lawsuit accuses Rio Tinto, its former chief executive Thomas Albanese and ex-chief financial officer Guy Elliott of failing to follow accounting standards and company policies to accurately value and record Mozambique assets.

  3. Profits sink for Dulux owner

    Thierry Vanlancker, CEO of AkzoNobel poses with the Dulux dog
    Image caption: At least the Dulux dog is smiling... (along with AkzoNobel chief executive Thierry Vanlancker, to be fair)

    Dulux paints owner AkzoNobel has blamed "headwinds" at its marine coatings business, as well as higher costs for material costs, for lower-than-expected operating profits of €383m for the third quarter.

    It also said annual profits would now be about flat - its second warning since saying in July it was on track to boost the bottom line by €100m since rejecting a €26bn bid from PPG Industries in May.

    Since then Akzo has struggled, with both the chief executive and CFO departing on health grounds.

    However, the company said it was still on track to deliver a bonus dividend of €1bn before the end of the year, and sell or float its specialty chemicals division by early 2018.

  4. Business rates blues

    Today Programme

    BBC Radio 4

    Hilary Wits, of property consultancy Colliers International, has been talking about one of our favourite topics - business rates - on Today.

    She argues that rateable values are not a fair reflection of the costs incurred by business.

    The new system introduced in April that raised valuations by 3% is "just not working” - and even those whose rates fell won’t feel any relief straight away as reductions will be phased in, Ms Wits explains.

    While there are hopes of changes to the system in next month's Budget, she says there is little incentive for the government to tinker widely given it brings in £26bn a year - and an additional £1bn next year.

  5. Thomson rebrands to Tui

    BBC Radio 5 live

    Veteran travel brand Thomson is to disappear from UK High Streets after it rebrands to Tui on Wednesday.

    Nick Longman, the UK managing director of Tui, says it's "an extremely big move."

    "Thomson's been around for over 50 years, and I'm sure all of us have great memories of going on holiday with Thomson, but I think we're doing it for a couple of reasons."

    He says Tui is the biggest travel business in the world, and part of a global brand "with the strength that that gives us."

    But he says the main reason is that holidays "have evolved over the years" to include city breaks and more activities - while Thomson is synonymous with package beach trips.

  6. Tui will get lower business rates

    BBC Radio 5 live

    Business rates are due to go up in April by September's Retail Prices Index (RPI) rate of 3.9%, and about 1.8 million businesses will pay more.

    Nick Longman, the UK managing director of travel firm Tui, says the rate rise will mostly affect London and the south east.

    But most of Tui's 600 shops are not in this area, he says.

    "We are actually seeing a rate decrease overall on our shop portfolio from next year," he says.

    "We think the rebasing that was performed is fair, and I think we're happy with that," Mr Longman adds.

  7. Rate rise on the cards?

    BBC Radio 5 live

    Bank of England

    On Tuesday figures came out showing that the UK's key inflation rate hit 3%, its highest for more than five years in September, after increases in transport and food prices.

    Mike Amey of Pimco says when the Bank of England governor says the rate is not going to be back at the Bank's target of 2% for three years "that kind of gives you a steer that they think they should be starting to raise interest rates to slow the economy down."

  8. Good morning

    UK labour market figures are out later this morning. In the three months to June, the jobless rate was 4.4% - its lowest since 1975. We'll find out if that has continued.

    The government is asking about poor practice in the property management sector, such as over-priced repair costs and inflated service charges. Is a new independent regulator needed?

    We'll also have third quarter results from Reckitt Benkiser, which has brands including Cilit Bang, Dettol and Nurofen.