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Live Reporting

By Dearbail Jordan and Laura Heighton-Ginns

All times stated are UK

  1. G'night

    We're closing the live page a little early, so that's it for now. We'll be back tomorrow at 6.00 am sharp. See you then.

  2. FTSE edges higher to the close

    Graphs

    The FTSE 100 index ended up a fraction - 0.8% up at 7,556.38. The upward momentum came largely from the mining stocks, which were encouraged by news of new talks between China and the US on the trade "war".

    Shares in Antofagasta, Glencore, Fresnillo , Rio Tinto and BHP Billiton all rose between 0.9 and 2.5%

    The pound was stronger - but it was too weak a recovery to be convincing. Retail sales numbers came in better than had been expected, which encouraged sterling to raise its head from its sick bed, wavering above $1.27, but looking as though it might fall back at any moment.

    But such weakness only inspires dollar earning stocks: the miners I have mentioned, but BP and Royal Dutch Shell also added points to the index, rising 0.6% and 1% respectively. The big loser was of the day was the retailer Kingfisher. The shares were down 4.8% as its poorperformance in France upset its investors

    .

  3. Brazil's Soybean "disaster"

    Soya bean harvest
    Image caption: Not a weed in sight - the soybean harvest underway in Brazil

    With all the noise around Monsanto losing its court case over its glyphosphate weed killer - known more familiarly as Roundup, a decision by a Brazilian judge to suspend the use of the stuff seems to have been scarcely noticed. The decision by the federal judge in Brasilia has sent shock waves through the soybean farmers of the country who seem to sprinkle the stuff on their crops like the average child puts sugar on their cereal. Indeed Monsanto sells not just Roundup but a Roundup resistant soybean which thrives as the glyphosphate kills the weeds around it. Agriculture Minister Blairo Maggi has said a full ban would be a "disaster" for the country's agriculture. Monsanto, understandably thinks the judge is "wrong" and there's an appeal going ahead against the decision. But soy bean isn't just any old crop in Brazil. The country is the world's biggest exporter of the bean. And with China putting tariffs on American soybeans, Brazil is hoping to cash in. Or at least it had been.

  4. Tesla production "on track" despite troubles

    Some comforting words for Tesla after the traumas of the last few days. To recap: Elon Musk said he was considering taking Tesla private at a cost of tens of billions of dollars for which financing had been "secured". This caused much confusion among investors. The Saudis were said to be involved. The Tesla board said nothing formal had been said. The New York Times said the Securities and Exchange Commission has served Tesla with a subpoena. So the words of the analyst George Galliers of Evercore ISI are particularly welcome for Mr Musk. Mr Galliers toured the Tesla factory and said the much heralded Model 3 is on track, production should hit 5-6,00 units a week and all the bits and bobs needed to produce 7-8,000 a week "seem well within reach".

    .

    Tesla car
  5. Motorola accused of 'shameless' copying

    A Motorola P30 and iPhone X
    Image caption: Spot the difference: the P30 and iPhone X

    Smartphone brand Motorola has been criticised for revealing a "shameless" copy of the iPhone X as its new model.

    Many phone-makers have copied the look of the iPhone X, which has a smaller bezel around the screen and a "notch" at the top that houses a camera.

    However, reviewers said the new Motorola P30 was a "brazen" and "egregious" rip-off of Apple's flagship device.

    News site Mashable said Motorola "even went so far as to adorn the screen with a wallpaper that's a dead ringer for Apple's default wallpaper".

    Lenovo, which owns the Motorola brand, has not yet responded to the criticism.

  6. Debenhams confirms job losses

    Debenhams store

    More details are emerging of Debenhams' retreat from empire: it has just confirmed 80-90 jobs will go at its headquarters, less than half the number some newspapers had been suggesting. This is what the retailer said about what it's doing: "We announced our intention to restructure our organisation around three business units: Beauty & Beauty Services, Fashion & Home and Food & Events earlier this year. Our work to create a simplified and consistent structure across these units, reducing complexity and driving efficiency in order to deliver our Debenhams Redesigned strategy, is continuing."

  7. JCPenney hits historic low

    JCPenney shop front

    JCPenney has just lost a quarter of its market value on the New York Stock Exchange.

    The department store, which is currently without a chief executive, posted results earlier today that disappointed investors.

    The shares have hit a historic low in today's trading session.

    JCPenney is one of a number of traditional department stores losing ground to online and discount retailers.

  8. This too shall pass, says Turkey

    Turkish finance minister Berat Albayrak
    Image caption: Turkish Treasury and Finance Minister Berat Albayrak

    International investors have had a bracing talk on the phone from Turkey's finance minister Berat Albayrak (who also happens to be President Recep Tayyip Erdogan's son-in-law).

    Turkey, he told them in a tele-conference, would emerge 'stronger' from its currency crisis.

    The lira plunged last week after US President Donald Trump doubled tariffs on its aluminium and steel.

    Mr Albayrak went on to insist the economy’s fundamentals remained strong - and he isn’t planning to turn to the International Monetary Fund.

  9. Walmart drives Dow higher

    The Dow Jones has jumped at the start of trading in New York.

    It's 274 points higher, a rise of 1.09%.

    Walmart is a big gainer, up around 9.21%, after posting its best sales figures in over a decade.

  10. Tourists return to Turkey

    Turkey holidaymakers

    There's at least one upside to the Turkish lira's decline - the attractive exchange rate for tourists.

    One holiday comparison website is reporting a 19% increase in searches for trips to Turkey over the last week.

    Emma Coulthurst from TravelSupermarket says holidaymakers are looking to "capitalise on the plunge in the lira".

    "Turkish resorts were already some of the cheapest places for families," she adds. "[Now] British pounds will go even further.”

  11. Banks still untrustworthy, say Brits

    Canary Wharf

    Ten years on, we haven't forgotten.

    According to a new survey, a majority of Brits don't trust banks, nor think they've faced severe enough penalties for the 2008 financial crisis.

    It showed 66% of adults in the UK do not believe banks to work in the best interests of society.

    The findings are from a poll of 2,250 adults by YouGov.

    Next month will see the 10th anniversary of the collapse of Lehman Brothers.

  12. 'No such thing as a no-deal'

    Iain Duncan Smith MP

    Vote Leave supporter and former conservative party leader Iain Duncan Smith has claimed there is "no such thing as a no-deal" in a televised interview.

    Speaking on Bloomberg TV, he said that regardless of how Brexit talks go, "there will be an arrangement."

    He went on to refer to the so-called Chequers plan touted by Prime Minister Theresa May as "neither fish nor fowl."

    Mr Duncan Smith serves as an MP for Chingford and Woodford Green.

  13. EU reacts to Genoa bridge accusations

    Genoa bridge collapse

    The EU has reacted to claims that its spending rules were to blame for the Genoa bridge collapse.

    A spokesperson for European Commission president Jean-Claude Juncker has pointed out that €2.5bn in development funds were granted to Italy under its long term budget running from 2014-2020 - with a further €8.5bn approved in April.

    Matteo Salvini, Italy’s deputy prime minister, has claimed “external constraints” on spending on “safe roads and schools” inadvertently led to the disaster.

    The Genoa bridge collapse has killed at least 39 people with up to 20 still missing.

  14. Trump relaxes US cyber-attacks rules

    Cyber

    President Trump has signed an order relaxing rules around the use of cyber-weapons,the Wall Street Journal reports.

    It is a reversal of guidelines, drawn up under President Obama, which required a large number of federal agencies to be involved in any decision to launch a cyber-attack.

    Specific details of what the new rules will be are classified information.

    One official said the US was taking "an offensive step forward".

    Read more here.

  15. JC Penney misses forecasts

    JC Penney

    While Walmart's sales jumped, US retailer JC Penney reported second quarter like-for-like revenues up 0.3% - below expectations of a 1% rise.

    The US department store chain also said that losses widened to $101m (£79.5m) from $48m.

  16. Brexit could have 'damaging' effect on football clubs

    BBC Sport

    Brexit could be "damaging" to English football, the chairman of Stoke City has claimed.

    Peter Coates says the Premier League could be hit by freedom-of-movement restrictions.

    Peter Coates

    Responding to questions in Parliament on Wednesday, Sport Minister Tracey Crouch said the government "absolutely recognises the value of sport to the UK" and "is determined to ensure that our sport sector continues to flourish".

    Currently, players from the EU are allowed to play professional football in England as part of freedom-of-movement rules, while those from outside the EU need work permits.

    Quote Message: Depending on the Brexit deal, the Premier League, one of our country's success stories, could be damaged by freedom-of-movement restrictions. This could also affect the Championship. If this goes badly, it will be places like Stoke that suffer the most." from Peter Coates Stoke City chairman
    Peter CoatesStoke City chairman
  17. BreakingAsda like-for-like sales rise 0.4%

    Asda

    Asda, the Walmart-owned supermarket group in merger talks with Sainsbury's, has reported a 0.4% rise in like-for-like sales in the second quarter.

    Total sales rise by 2.4%.

    Doug McMillon, president and chief executive of Walmart, said: "In the UK, comp sales were positive for the fifth consecutive quarter.

    "We're focused on improving the experience in our stores and providing great value for customers through lower prices, especially within our private brand offerings."

  18. Walmart lifts full-year guidance

    Walmart

    Walmart, which owns UK supermarket chain Asda, says that total sales in the second quarter rose 3.8% to $128bn.

    It said that during the three months to 31 July, its US like-for-like sales enjoyed the strongest growth in more than ten years led by grocery, clothing and seasonal goods.

    It also lifted its guidance for the full-year.

  19. Behold, the Avozilla

    Avocado on toast

    Here's something to help millennials forget about student debt and the unreachable housing ladder - the 'avozilla'.

    Yes, it's a giant avocado variety being grown in Australia.

    Farmer David Groves produces the fruit - which is about five times the size of a standard avocado.

    Mr Groves claims one avozilla is enough for - wait for it - twenty-three slices of toast.

    Here he is proudly showing them off.