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Live Reporting

By Mary-Ann Russon

All times stated are UK

  1. Good night

    BBC testcard

    That's it for today on Business Live - thanks for reading. We'll be back bright and early at 6am On Tuesday morning.

    Do join us then for all the latest news and views from the wonderful world of business.

  2. Wall Street ends flat

    Wall Street

    Wall Street shares have ended broadly flat after news of upcoming international trade talks offset the negative impact of the strengthening U.S. dollar on corporate earnings forecasts.

    The Dow Jones Industrial Average closed 12.97 points lower at 25,045.15.

    The S&P 500 ticked up 5.15 points to 2,806.98.

    And finally, the tech-heavy Nasdaq finished 21.68 points higher at 7,841.87.

  3. Alphabet beats forecasts

    Alphabet

    Google parent company Alphabet has beat Wall Street forecasts for its second quarter profit.

    The company posted adjusted earnings of $10.58 per share, excluding the impact of equity investments and European antitrust regulators' record $5bn fine for abusing its dominance in mobile software.

    Google is appealing the ruling.

    When including the fine, second-quarter net income fell to $3.20bn from $3.52bn a year earlier.

    Revenue jumped to $32.66bn from $26.01bn.

  4. UK eyes new powers to block foreign takeover deals

    Business Secretary Greg Clark

    Government intervention in foreign takeovers of UK firms will massively increase under proposed new powers.

    The government expects to review 50 foreign takeovers a year over national security. In the last two years it has reviewed just one takeover a year.

    Previously the government could only review deals where the target company had annual revenues of over £70m.

    The proposed new legislation would abolish that threshold - entirely and permanently.

    It marks a new era in government oversight of corporate activity deemed likely to the threaten national interests.

    The government expects that the new thresholds will result in 200 notifications of potential national security concerns being raised when either whole companies or sensitive assets are being acquired.

    Read more here

  5. Tesla responds

    Tesla car at charging point

    Tesla has responded to news it has been asking some suppliers for refunds in order to stay profitable.

    Tesla says the appeal was a standard part of procurement negotiations.

    In a statement released Monday, the firm said it had asked fewer than 10 companies to discuss costs related to projects that dated to 2016.

    "The remainder of our discussions with suppliers are entirely focused on future parts price and design or process changes that will help us lower fundamental costs," it said.

    Initially, Tesla shares dropped by more than 5% on Monday morning as investors responded to the report, although they recovered some ground later.

  6. Nike adjusting salaries to address gender pay equality

    Nike's chief executive Mark Parker

    Nike has announced that it is raising the salaries of over 7,000 employees in a bid to address concerns about gender pay equality.

    An internal memo seen by CNBC said that 10% of employees - both men and women - would receive adjustments to their salaries to ensure that both sexes are being equally compensated for the same roles globally.

    In April, eight male senior executives left Nike after the answers to a survey of female employees asking whether they had experienced sexual harassment or gender discrimination in the workplace found their way to the desk of the sportswear brand's chief executive Mark Parker.

  7. Brexit deal will protect jobs, says May

    Theresa May speaking to workers at Reece Group Limited, in Newcastle

    The Government's preferred Brexit deal will "protect jobs and livelihoods" in the North East and support major manufacturers such as Nissan, Prime Minister Theresa May has said.

    Her Cabinet visited the region earlier to tie in with the Great Exhibition of the North in Newcastle and Gateshead.

    The Prime Minster also confirmed up to £780m would be invested in the East Coast Main Line from 2019.

    However, business leaders warned her Brexit approach could see job losses.

    Brexit deal will protect jobs says May

    Theresa May speaking to workers at Reece Group Limited, in Newcastle

    Theresa May vows her Brexit plan will benefit the North East as the Cabinet visits Tyneside.

    Read more
    next
  8. Barclays plans 2,500 new jobs in Glasgow

    Barclays has unveiled plans to create up to 2,500 jobs at a new hub in Glasgow, in a major boost to Scotland's financial services sector.

    The bank will house its technology, functions and operations teams at a campus at the planned Buchanan Wharf development on the banks of the Clyde.

    Barclays has agreed to purchase the campus development from Drum Property Group and is currently finalising the design of the new facility as part of the wider Buchanan Wharf development.

    The bank's existing Scottish operations are expected to start transferring to the new campus from 2021.

    Video content

    Video caption: Derelict riverside area to become Barclays banking hub
  9. Trump's battle for carbon emissions

    Cars on a highway in New Jersey

    The Trump administration is expected to propose a change to legislation that currently restrict carbon emissions and mandate the need for electric cars in the state of California, government officials have told Reuters on condition of anonymity.

    California and a dozen other states have adopted the new rules in order to help protect the environment. In particular, California wants to get to five million zero-emissions vehicles in the state by 2030.

    If the bill to freeze vehicle emissions requirements between 2020 to 2026 goes through, this would increase America's consumption of fuel by about 500,000 barrels of oil per day.

    The draft proposal claims that this new legislation would prevent up to 1,000 highway deaths annually, if people are not being prodded to purchase new, safer cars.

    Not needing to make sure that cars produce less carbon emissions would also bring down the cost of new cars, which also would apparently help to prevent the highway deaths, the draft proposal says.

    If this goes ahead, there will likely be a large row, as 17 states have already warned that they will challenge the Trump administration if it tries to review US vehicle emissions rules.

  10. Ministers braced for 'no deal' Brexit

    Welsh ministers are braced for a 'no deal' Brexit and the impact of what that could mean for farmers.

    A no deal Brexit would cause a "seismic shock" through the Welsh farming industry, an industry leader has warned as the Royal Welsh Show got under way.

    Brexit is expected to dominate the show with UK Environment Secretary Michael Gove attending.

    Video content

    Video caption: Ministers braced for 'no deal' Brexit
  11. Bank of England to keep changing interest rates

    Bank of England

    The Bank of England's deputy governor Ben Broadbent has said that BoE will continue to use interest rates as its main tool for steering the British economy.

    Another key tool the BoE uses it quantitative easing, but it said in June that it intends to start selling some of the £435bn worth of government bonds it currently owns once its interest rates is raised to 1.5%.

    "The framework is designed to ensure that, should inflationary pressures weaken after that date, the first response would be to cut interest rates," Mr Broadbent told an audience at London's Society of Professional Economists today.

  12. Looking towards Generation Z

    Generation Z children watching YouTube shows
    Image caption: Generation Z children watching YouTube shows

    Forget millennials, apparently it's now time to look towards Generation Z, which Barclays defines as being people born between 1995 to 2009, aged between 8 to 23.

    Barclays analysts have been investigating which leisure brands are likely to benefit from tech-savvy younger consumers' changing habits.

    They believe that the British firms that will most benefit from Generation Z lifestyles include pub chain JD Wetherspoon, amusement park corporation Merlin, fitness facilities The Gym Group and Basic Fit, as well as travel operators Thomas Cook and TUI.

  13. Shortlist for new Channel 4 base revealed

    Channel 4's current home is in London's Horseferry Road
    Image caption: Channel 4's current home is in London's Horseferry Road

    Birmingham, Greater Manchester and Leeds are all in the running to host Channel 4's new national headquarters, the broadcaster has announced.

    The company wants to move 300 of its 800 staff out of London to a national headquarters and two "creative hubs".

    The channel confirmed Leeds, Birmingham and Greater Manchester had progressed to the next stage of negotiations as potential national HQ locations.

    There will also be smaller "creative hubs" - the two cities that lose out on the national HQ will be considered for this, together with Bristol, Cardiff and Glasgow.

  14. London shares end lower

    London Stock Exchange

    London shares have ended lower, due to investor jitters over US President Trump's comments on Friday that he is ready to impose tariffs on all Chinese imports.

    The FTSE 100 closed 23 points or 0.3% lower to 7,655.79, with the losers led by housebuilders Taylor Wimpey, which fell 4% to 170p.

    Last week, it was reported that a 70-year-old subcontractor was killed in a site digger incident at its Stoneley Park site in Crewe.

    The FTSE 250 ended 155.3 points or 0.7% down to 20,770.38. British business-to-business media firm Ascential Group tumbled 5.6% to 433.4p after announcing that while revenue for the first half of 2018 rose to £189m, operating profit slid 11% to £29m.

  15. Tesla shares hit by report it is seeking refunds

    Tesla

    Tesla shares have fallen by more than 5% following a report that it is seeking refunds from suppliers.

    The electric carmaker, which is headed by Elon Musk, told suppliers the refunds were critical to its ability to stay in business, according to the Wall Street Journal.

    Tesla did not respond to a BBC request for comment.

    The company told the Journal that the appeal was a standard part of procurement negotiations.

  16. Uber driver streamed hidden camera videos on Twitch

    Driver Jason Gargac, who live-streamed Uber and Lyft passengers' journeys on Twitch

    An Uber and Lyft driver who broadcast videos of his passengers online has been suspended from both car-sharing services.

    Jason Gargac live-streamed passengers' journeys on video-sharing site Twitch, where viewers would comment on their behaviour and appearance.

    Local newspaper the St. Louis Post-Dispatch said passengers were seen kissing, vomiting and gossiping about relatives and work colleagues.

    His Twitch channel has been suspended.

  17. 'Tariffs aren't the answer'

    BBC World News presenter Aaron Heslehurst has spoken with the United States Council for International Business, which says that although President Trump is right to try to address the balance of trade between the US and China, he isn't going about it the right way....

    View more on twitter
  18. New Fiat chief will have a full in-tray

    Sergio Marchionne

    Evidence of the uncertainty facing carmaker Fiat-Chrysler Automobiles (FCA) came fast on Monday.

    News over the weekend that the driving force behind FCA's growth, Sergio Marchionne, would not return to work after surgery sent the shares down 5%.

    It was soon followed by reports that one of the unsuccessful candidates to replace Mr Marchionne, Europe chief Alfredo Altavilla, had resigned.

    The new chief is Briton Mike Manley - and he has a tough act to follow.

  19. Amazon shares slip on Trump tweets

    Amazon shares slipped briefly following tweets just now by US President Donald Trump complaining about the internet giant.

    President Trump has made it clear in the past that he doesn't like Amazon, and blames it for putting brick and mortar retailers out of business.

    Today, he says that Amazon is taking advantage of the US Post Office, and he is also upset with the Washington Post, which he says is a "lobbyist" for the internet giant.

    Amazon is now 15.5 points or 0.9% lower to $1,798.25.

    View more on twitter
    View more on twitter
    View more on twitter
  20. 'The turmeric of 2018'

    Cannabidiol vapor products are displayed during the Cannabis World Congress & Business Expo at the Jacob Javits Center on June 17, 2016 in New York City.

    Have you ever heard of Cannabidiol? Nor had we. Also known as CBD, it is derived from marijuana and hemp plants. According to the the New Yorker, is appearing everywhere in the city.

    The writer points out that some New Yorkers will try anything to "soften the city's edge".

    Unlike other states, New York has not legalized marijuana, so CBD is a legal alternative to relax.

    However, the writer is not convinced about its effects and one contributor brands it the "tumeric of 2018".