Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Live Reporting

Tom Espiner

All times stated are UK

  1. Good night

    That's all for tonight from the Business Live page. Please join us again tomorrow from 06:00.

  2. CO₂ shortfall could have 'huge effect' on food production

    More on the CO₂ shortfall from the British Poultry Council ...

    Quote Message: It is worrying that failures in the gas sector can have such a potentially huge effect on British food production. The BPC will be working closely with Defra, BEIS, retailers, and gas suppliers to implement contingency plans and mitigate any major impact on sustainable supply of food. from Richard Griffiths Chief executive, British Poultry Council
    Richard GriffithsChief executive, British Poultry Council
  3. Poultry industry wants priority for CO₂

    Raw whole chicken

    Trade magazine The Grocer reported earlier on stark warnings from the British Poultry Council (BPC) that up to 60% of poultry processing plants could be knocked out "within days" as a result of the CO₂ shortage.

    CO₂ is used to stun and ultimately suffocate poultry in many slaughterhouses.

    The Grocer said nine of the UK's largest poultry plants were facing a critical shortage of the gas, which could lead very quickly to a halt in slaughtering and a knock-on effect on animal welfare as birds are left longer on the farms.

    Now we've had this statement from the British Poultry Council.

    Quote Message: With the supply of CO₂ tightened across Europe, the British Poultry Council is calling on Government and major gas producers to prioritise supplies to slaughterhouses and keep the food chain moving. We are assessing what the possible impact on food supply might be, and BPC members are working hard to minimise the effect. from Richard Griffiths Chief executive, British Poultry Council
    Richard GriffithsChief executive, British Poultry Council
  4. Nasdaq closes at record high

    Wall Street trader

    The Nasdaq hit a record on Wednesday as Facebook, Amazon, Netflix and Alphabet touched all-time highs, while the Dow Jones Industrial Average struggled to shrug off concerns over a rapid escalation in the US-China trade tensions.

    The Nasdaq ended the day at 7,781.52, a rise of 55.93 points or 0.72%.

    The Dow Jones Industrial Average closed at 24,657.80, a fall of 42.41 points or 0.17%.

    And the S&P 500 gained 4.73 points or 0.17 to 2,767.32

  5. 70 years of vinyl

    Vinyl records

    Vinyl records have been enjoying a renaissance in recent years, with sales booming as fans rediscover the format.

    Today marks the 70th anniversary of the release of the first long-playing record in the US in 1948.

    Mendelssohn's Concerto in E minor, performed by violinist Nathan Milstein with the New York Philharmonic Symphony Orchestra, was the first vinyl LP.

    "The fact that the long playing record came into existence was a huge step for music sound recording and for the listener," AndyLinehan, curator of popular music in the British Library sound archive, said.

    "Previously you could only get three minutes or so onto one side of a record and now because you had a narrower groove and a slower speed, you could get up to 20 minutes, which meant you could get a whole classical piece on one side of a record... you could get a whole package of songs together on one record."

  6. Lloyds Bank to cut 450 jobs

    Lloyds bank logo

    Lloyds Banking Group is to cut 450 jobs, affecting mainly back office roles.

    The lender said the cuts will help it "adapt and evolve to support changes in customer behaviour".

  7. Musk's Boring Company to build airport link in Chicago

    Elon musk

    Chicago has selected Elon Musk’s Boring Company to build a $1bn high-speed underground rail system that will whisk people from Chicago’s central Loop district to O’Hare International Airport at 150 miles per hour (240 km per hour), the billionaire entrepreneur and Mayor Rahm Emanuel have said.

  8. Starbucks' shares down after China and US growth concerns

    Starbucks shares fell more than 8% after a disappointing sales forecast from the US coffee chain prompted Wall Street analysts to question the sustainability of its growth at home and in its next biggest market, China.

  9. American and United airlines ask not to be used for child separation

    A crying child at the US border

    American Airlines and United Airlines have asked the federal government to refrain from using their flights to transport migrant children who have been separated from their families.

    "The family separation process that has been widely publicised is not at all aligned with the values of American Airlines - we bring families together, not apart," American Airlines said in a statement.

    United Chief Executive Oscar Munoz in a statement called the Trump administration's zero tolerance illegal immigration policy that has led to family separations "in deep conflict with our company's values."

    "We have contacted federal officials to inform them that they should not transport immigrant children on United aircraft who have been separated from their parents," Mr Munoz said.

  10. Canada marijuana stocks higher

    Marijuana leaf

    Canadian marijuana stocks are higher after the country became the first major economy to legalise its recreational use.

    Canada's Senate voted 52-29 on Tuesday in favour of a revised bill from the elected House of Commons, paving the way for a fully legal cannabis market within eight-to-12 weeks following a final sign-off from the country's governor general in the next few days.

    "The legislation... marks a wholesale shift in how our country approaches cannabis," said Jody Wilson-Raybould, minister of justice and attorney general of Canada. "It leaves behind a failed model of prohibition, a model that has made organised crime rich and left our young people vulnerable."

  11. IMF approves Argentina fund

    "IMF never again": There is widespread suspicion in Argentina about a new deal
    Image caption: "IMF never again": There is widespread suspicion in Argentina about a new deal

    The International Monetary Fund's (IMF) board of directors has approved a $50bn financing arrangement for Argentina.

    The deal was agreed earlier this month, subject to IMF board approval.

  12. Former Anglo boss sentenced to six years in jail

    David Drumm

    Former Anglo Irish Bank chief executive David Drumm has been sentenced to six years in jail.

    He was sentenced on Wednesday at the Dublin Criminal Court.

    The ex-banker was found guilty earlier in June of authorising a €7.2bn (£5.4bn) conspiracy to defraud and of false accounting.

    Drumm had pleaded not guilty to conspiring to dishonestly make Anglo's balance sheet look better between March and September 2008.

    Read more here.

  13. Coca Cola 'working on CO2 issues'

    Coke bottling plant

    A shortage of carbon dioxide in the UK has left carbonated drinks producers "desperate" for fizz.

    Drinks giant Coca-Cola European says it is "currently responding to an industry-wide issue that is impacting the supply of C02 in the UK and across Europe."

    "There has been no disruption to supply to date and we are continuing to fulfil orders to our customers," a spokeswoman says.

    "We are working closely with our suppliers, partners and customers on a number of solutions as the situation develops."

  14. Poundworld 'closing down' sales to begin


    Poundworld is to begin "closing down" sales, although that does not mean the shops will definitely close, it has told employees.

    Administrators are struggling to find a buyer for the discount retailer.

  15. Wetherspoons 'likely to be affected by gas shortage'

    Tim Martin

    Hard as it is to believe, pub chain Wetherspoons says it is likely to be affected by a shortage of gas.

    The carbon dioxide shortage is not causing any issues yet, but it probably will, a spokesperson said.

    "As of today we have no issues. That is likely to change in the coming days, and it’s not likely to get any better.

    "There might be some products we don’t have available and if it affects Wetherspoons then it will affect everyone else.”

  16. Amstel and John Smith's stock gets depleted


    A shortage of the gas that puts the fizz in fizzy drinks is affecting stocks of Amstel and John Smiths, the BBC understands.

    Heineken, which owns the brands, says: "We’ve been informed by our CO2 supplier that they are facing a major issue with supply availability in the UK.

    "Like many other businesses in the food and drinks industry, we are affected by this shortage.

    "We continue to work hard to resolve this issue as quickly as possible within our European supply base and are working with customers to minimise disruption to their business."