Thanks for tuning in. We'll be back on Monday at 6am sharp, hope to see you then.
Danke money-laundering scandal 'involved $150bn of transactions'
Getty ImagesCopyright: Getty Images
Shares in Danske Bank
fell on Friday after the Wall
Street Journal reported that an investigation into a
money-laundering scandal at its Estonian branch between 2007 and
2015 involved $150bn worth of transactions.
The Danish lender has admitted to flaws in its anti-money
laundering controls in Estonia and has launched its own inquiry,
the results of which are expected this month.
"Any conclusions should be drawn on the basis of verified
facts and not fragmented pieces of information taken out of
context," Danske chairman Ole Andersen said.
"As we have previously communicated, it is clear that the
issues related to the portfolio were bigger than we had
previously anticipated."
Shares in Danske Bank fell as much as 5.2% on Friday.
US stocks close lower
Donald Trump's threat has been the final death knell for Wall Street. All three of the main indexes have ended trading lower.
The Dow Jones ended 0.3% lower at 25,916.54, the Nasdaq 0.25% down at 7, 902.54 and the S&P 500 finished 0.22% lower at 2,871.68.
Apple warns on tariffs
BBCCopyright: BBC
Tech giant Apple's shares have fallen after Bloomberg reported that Apple has warned if the US does impose a third round of tariffs on $200bn worth of Chinese goods then it will hit some of its products.
The Apple Watch, AirPods, HomePod, AirPort routers, Apple Pencil, Mac mini, and some adapters/cables will all be affected, according to Bloomberg reporter Mark Gurman.
Giant plastic catcher heads for Pacific Ocean clean-up
The Ocean CleanupCopyright: The Ocean Cleanup
When a Dutch teenager went swimming in the sea in Greece seven years ago, he was shocked to see more plastic than fish.
In fact, Boyan Slat was so appalled by the pollution that he soon started to campaign for the oceans to be cleaned up.
For a long time, few people took him seriously. Here was a university drop-out with a far-fetched idea that surely could never work.
But this weekend, backed by major investment and some massive engineering, a vast plastic collection system will be towed out of San Francisco Bay.
US stocks pare losses
Wall Street markets have recovered slightly after Donald Trump threatened a fresh wave of tariffs on China, although the three main indexes are still in the red.
The S&P 500 is down 0.1% at 2,874.46, the Dow is 0.2% lower at 25,943.68, and the tech heavy Nasdaq is flat at 7,922.1.
Trump could target all Chinese imports to US
Getty ImagesCopyright: Getty Images
The president told reporters he could move “very soon” to impose duties on $200bn in imports from Beijing, with levies on a further $267bn of goods “ready to go on short notice”.
That would mean the US raising duties on all Chinese imports to the US.
The comments suggest the Trump administration is seeking to escalate its trade-war with China, after repeated attempts to reach a deal fell flat.
“I’m being strong on China because I have to be,” Mr Trump said on Air Force One. “They’re taking $500 billion dollars out a year. Can’t let that happen."
This year, the US has already imposed $50bn in tariffs on US products.
US-Canada talks 'could continue until end of month' - source
ReutersCopyright: Reuters
Canadian Foreign Minister Chrystia FreelandImage caption: Canadian Foreign Minister Chrystia Freeland
Nafta trade negotiations between Canada and the US could continue until the end of September, a Canadian source has told Reuters.
Canada’s top trade negotiator and her American counterpart started a third day of talks to save the North American Free Trade Agreement on Friday as differences between the two sides appeared to have narrowed.
According to the US, the main sticking points in discussions are Canada’s dairy quota; Ottawa’s desire to keep Nafta's Chapter 19 dispute resolution mechanism; and Canadian media laws that favour domestically produced content.
US stocks slip on Trump comments
US stocks have reversed course to trade lower, after Donald Trump said a fresh round of China tariffs were “ready to go on short notice”.
This would impact $267bn worth of Chinese imports and come on top of $200bn worth of tariffs due to be imposed shortly.
The Dow Jones Industrial Average is down 0.6% at 25,849.48, the S&P 500 has lost 0.2% to 2,873.46, and the Nasdaq is 0.2% lower at 7,910.80.
Queues around the block for Italy's first Starbucks
ReutersCopyright: Reuters
When Starbucks opened its first outlet in Italy this week, many thought the American giant would be laughed out of town. Italy is after all considered the home of coffee, and not the tall milky kind.
However, around two hundred queued outside the Milan store - an upmarket concept roastery - to sample its wares on Friday.
These included tourists and locals, Reuters reported.
“I hope the coffee here tastes better than it does in America,” Milan resident Sonia Vesti said.
The firm has already attracted the ire of Italy's cafe owners over its new venture. Yesterday a trade group lodged a complaint about the firm's roastery with competition authorities, arguing it is charging almost twice what Italians are used to paying for their daily espresso in the city's cafes.
FTSE 100 closes lower
The London market has closed lower for the second day running because of a surge in the pound.
When the currency rises, it impacts the foreign earnings of big firms on the index, as they are worth less when they are converted back into sterling.
The FTSE 100 fell 0.6% to 7,277.70 points. Miners were among the worst performers, with Glencore, Fresnillo and Antofogasta shedding between 2.7% and 4.2%.
South Africa engineer Manglin Pillay sacked after sexism furore
SaiceCopyright: Saice
The head of South Africa's civil engineering institution (Saice) has been sacked after he wrote that few women take up the profession because they are "more predisposed to caring".
Manglin Pillay said that women preferred to "raise children than to be at the beck and call of shareholders".
He later apologised but Saice said it had terminated his contract due concern from its members.
Just 5% of Saice's 6,000 professional members are women.
Shares in German lender
Deutsche Bank fell by more than 3% on Friday before recovering slightly, after media reports that major Chinese shareholder HNA would sell off its stake.
Citing people familiar with the matter, the Wall Street Journal and German business daily Handelsblatt both said that HNA - a sprawling conglomerate - would offload its roughly 7.5% holding. Deutsche declined to comment.
If confirmed, the sale would come at a tricky moment for the troubled bank, whose second-quarter profits were down 14% year-on-year.
New boss Christian Sewing has promised to reform the lender by scaling back its investment banking activities and refocusing on the German market, but it has failed to enthuse investors.
Sterling pares gains
The pound has lost some of its fizz after breaching the $1.30 mark earlier.
Reports the EU is "open" to discussing alternative arrangements for the Irish border had bolstered the currency, but it's fallen back to $1.2967.
It's up 0.6% against the euro at €1.1190.
Retailer fined for banning online sale of golf clubs
Getty ImagesCopyright: Getty Images
Golf retailer Ping Europe "broke the law" by banning the sale of its clubs online, a Tribunal has ruled.
In
August 2017, the Competition and Markets Authority (CMA) found that Ping, which sponsors stars like Bubba Watson, had
breached competition law by preventing two UK retailers from selling its clubs on their websites.
Ping appealed but a tribunal on Friday dismissed the case, imposing a £1.25m fine.
It said: “The potential impact of
the ban on consumers and retailers is real and material. It significantly
restricts consumers from accessing Ping golf club retailers outside their local
area and from comparing prices and it significantly reduces the ability of, and
incentives for, retailers to compete for business using the
internet.”
John Neal named new boss of Lloyds of London
Lloyds of LondonCopyright: Lloyds of London
Lloyds of London buildingImage caption: Lloyds of London building
John
Neal has been appointed as the chief executive of insurance market Lloyd’s of London, succeeding Inga Beale.
He will take up his position on 15 October 2018.
Mr Neal was most
recently group chief executive of QBE, a global insurance and reinsurance business.
Ms Beale, the first female chief executive of Lloyd’s of London, announced she would step down in June.
She made modernisation one of her priorities, updating the market’s systems and pushing to improve diversity in what has traditionally been a white, male-dominated market.
Shares in Tesla have fallen 10% after the resignation of its chief accounting
officer after just a month in the job.
The company said Dave Morton had left, blaming discomfort with the
level of public attention the carmaker was getting and the pace of work.
It follows a host of bad press for Tesla boss Elon Musk, who faces investigations and lawsuits after claiming last month that he would take Tesla private, causing its share price to spike.
He also sparked a twitter storm overnight after smoking
marijuana during a 2-1/2-hour live web show with
comedian Joe Rogan.
Bloomberg also reported Tesla's chief people officer, Gaby
Toledano, was to leave the company just over a year after
joining.
The firm, which has never made an annual profit, faces pressure from investors to ramp up production and growth.
Online banking at Yorkshire Bank 'working as normal'
Yorkshire Bank has reassured customers that nothing is wrong with its internet banking service after erroneously tweeting that the system was having problems. That's good news for customers going into the weekend:
Live Reporting
Dearbail Jordan and Tom Espiner
All times stated are UK
Getty ImagesCopyright: Getty Images 
BBCCopyright: BBC View more on twitterView more on twitter 
The Ocean CleanupCopyright: The Ocean Cleanup 
Getty ImagesCopyright: Getty Images 
ReutersCopyright: Reuters Canadian Foreign Minister Chrystia FreelandImage caption: Canadian Foreign Minister Chrystia Freeland 
ReutersCopyright: Reuters 
SaiceCopyright: Saice 
Getty ImagesCopyright: Getty Images 
Getty ImagesCopyright: Getty Images 
Lloyds of LondonCopyright: Lloyds of London Lloyds of London buildingImage caption: Lloyds of London building 
View more on twitterView more on twitter 
Getty ImagesCopyright: Getty Images View more on twitterView more on twitter
Latest PostGood night
Thanks for tuning in. We'll be back on Monday at 6am sharp, hope to see you then.
Danke money-laundering scandal 'involved $150bn of transactions'
Shares in Danske Bank fell on Friday after the Wall Street Journal reported that an investigation into a money-laundering scandal at its Estonian branch between 2007 and 2015 involved $150bn worth of transactions.
The Danish lender has admitted to flaws in its anti-money laundering controls in Estonia and has launched its own inquiry, the results of which are expected this month.
"Any conclusions should be drawn on the basis of verified facts and not fragmented pieces of information taken out of context," Danske chairman Ole Andersen said.
"As we have previously communicated, it is clear that the issues related to the portfolio were bigger than we had previously anticipated."
Shares in Danske Bank fell as much as 5.2% on Friday.
US stocks close lower
Donald Trump's threat has been the final death knell for Wall Street. All three of the main indexes have ended trading lower.
The Dow Jones ended 0.3% lower at 25,916.54, the Nasdaq 0.25% down at 7, 902.54 and the S&P 500 finished 0.22% lower at 2,871.68.
Apple warns on tariffs
Tech giant Apple's shares have fallen after Bloomberg reported that Apple has warned if the US does impose a third round of tariffs on $200bn worth of Chinese goods then it will hit some of its products.
The Apple Watch, AirPods, HomePod, AirPort routers, Apple Pencil, Mac mini, and some adapters/cables will all be affected, according to Bloomberg reporter Mark Gurman.
Giant plastic catcher heads for Pacific Ocean clean-up
When a Dutch teenager went swimming in the sea in Greece seven years ago, he was shocked to see more plastic than fish.
In fact, Boyan Slat was so appalled by the pollution that he soon started to campaign for the oceans to be cleaned up.
For a long time, few people took him seriously. Here was a university drop-out with a far-fetched idea that surely could never work.
But this weekend, backed by major investment and some massive engineering, a vast plastic collection system will be towed out of San Francisco Bay.
US stocks pare losses
Wall Street markets have recovered slightly after Donald Trump threatened a fresh wave of tariffs on China, although the three main indexes are still in the red.
The S&P 500 is down 0.1% at 2,874.46, the Dow is 0.2% lower at 25,943.68, and the tech heavy Nasdaq is flat at 7,922.1.
Trump could target all Chinese imports to US
The president told reporters he could move “very soon” to impose duties on $200bn in imports from Beijing, with levies on a further $267bn of goods “ready to go on short notice”.
That would mean the US raising duties on all Chinese imports to the US.
The comments suggest the Trump administration is seeking to escalate its trade-war with China, after repeated attempts to reach a deal fell flat.
“I’m being strong on China because I have to be,” Mr Trump said on Air Force One. “They’re taking $500 billion dollars out a year. Can’t let that happen."
This year, the US has already imposed $50bn in tariffs on US products.
US-Canada talks 'could continue until end of month' - source
Nafta trade negotiations between Canada and the US could continue until the end of September, a Canadian source has told Reuters.
Canada’s top trade negotiator and her American counterpart started a third day of talks to save the North American Free Trade Agreement on Friday as differences between the two sides appeared to have narrowed.
According to the US, the main sticking points in discussions are Canada’s dairy quota; Ottawa’s desire to keep Nafta's Chapter 19 dispute resolution mechanism; and Canadian media laws that favour domestically produced content.
US stocks slip on Trump comments
US stocks have reversed course to trade lower, after Donald Trump said a fresh round of China tariffs were “ready to go on short notice”.
This would impact $267bn worth of Chinese imports and come on top of $200bn worth of tariffs due to be imposed shortly.
The Dow Jones Industrial Average is down 0.6% at 25,849.48, the S&P 500 has lost 0.2% to 2,873.46, and the Nasdaq is 0.2% lower at 7,910.80.
Queues around the block for Italy's first Starbucks
When Starbucks opened its first outlet in Italy this week, many thought the American giant would be laughed out of town. Italy is after all considered the home of coffee, and not the tall milky kind.
However, around two hundred queued outside the Milan store - an upmarket concept roastery - to sample its wares on Friday.
These included tourists and locals, Reuters reported.
“I hope the coffee here tastes better than it does in America,” Milan resident Sonia Vesti said.
The firm has already attracted the ire of Italy's cafe owners over its new venture. Yesterday a trade group lodged a complaint about the firm's roastery with competition authorities, arguing it is charging almost twice what Italians are used to paying for their daily espresso in the city's cafes.
FTSE 100 closes lower
The London market has closed lower for the second day running because of a surge in the pound.
When the currency rises, it impacts the foreign earnings of big firms on the index, as they are worth less when they are converted back into sterling.
The FTSE 100 fell 0.6% to 7,277.70 points. Miners were among the worst performers, with Glencore, Fresnillo and Antofogasta shedding between 2.7% and 4.2%.
South Africa engineer Manglin Pillay sacked after sexism furore
The head of South Africa's civil engineering institution (Saice) has been sacked after he wrote that few women take up the profession because they are "more predisposed to caring".
Manglin Pillay said that women preferred to "raise children than to be at the beck and call of shareholders".
He later apologised but Saice said it had terminated his contract due concern from its members.
Just 5% of Saice's 6,000 professional members are women.
Read more
HNA 'to offload Deutsche stake' - reports
Shares in German lender Deutsche Bank fell by more than 3% on Friday before recovering slightly, after media reports that major Chinese shareholder HNA would sell off its stake.
Citing people familiar with the matter, the Wall Street Journal and German business daily Handelsblatt both said that HNA - a sprawling conglomerate - would offload its roughly 7.5% holding. Deutsche declined to comment.
If confirmed, the sale would come at a tricky moment for the troubled bank, whose second-quarter profits were down 14% year-on-year.
New boss Christian Sewing has promised to reform the lender by scaling back its investment banking activities and refocusing on the German market, but it has failed to enthuse investors.
Sterling pares gains
The pound has lost some of its fizz after breaching the $1.30 mark earlier.
Reports the EU is "open" to discussing alternative arrangements for the Irish border had bolstered the currency, but it's fallen back to $1.2967.
It's up 0.6% against the euro at €1.1190.
Retailer fined for banning online sale of golf clubs
Golf retailer Ping Europe "broke the law" by banning the sale of its clubs online, a Tribunal has ruled.
In August 2017, the Competition and Markets Authority (CMA) found that Ping, which sponsors stars like Bubba Watson, had breached competition law by preventing two UK retailers from selling its clubs on their websites.
Ping appealed but a tribunal on Friday dismissed the case, imposing a £1.25m fine.
It said: “The potential impact of the ban on consumers and retailers is real and material. It significantly restricts consumers from accessing Ping golf club retailers outside their local area and from comparing prices and it significantly reduces the ability of, and incentives for, retailers to compete for business using the internet.”
John Neal named new boss of Lloyds of London
John Neal has been appointed as the chief executive of insurance market Lloyd’s of London, succeeding Inga Beale.
He will take up his position on 15 October 2018.
Mr Neal was most recently group chief executive of QBE, a global insurance and reinsurance business.
Ms Beale, the first female chief executive of Lloyd’s of London, announced she would step down in June.
She made modernisation one of her priorities, updating the market’s systems and pushing to improve diversity in what has traditionally been a white, male-dominated market.
Nigeria, the phone company and the $2bn tax bill
By Damilola Ade-Odiachi
BBC Africa Business reporter
The telecommunications giant was hit with a multi-billion dollar tax bill by Nigerian regulators.
Read moreSheeran promoter hits out at Viagogo
Tesla shares dive after chief accountant quits
Shares in Tesla have fallen 10% after the resignation of its chief accounting officer after just a month in the job.
The company said Dave Morton had left, blaming discomfort with the level of public attention the carmaker was getting and the pace of work.
It follows a host of bad press for Tesla boss Elon Musk, who faces investigations and lawsuits after claiming last month that he would take Tesla private, causing its share price to spike.
He also sparked a twitter storm overnight after smoking marijuana during a 2-1/2-hour live web show with comedian Joe Rogan.
Bloomberg also reported Tesla's chief people officer, Gaby Toledano, was to leave the company just over a year after joining.
The firm, which has never made an annual profit, faces pressure from investors to ramp up production and growth.
Online banking at Yorkshire Bank 'working as normal'
Yorkshire Bank has reassured customers that nothing is wrong with its internet banking service after erroneously tweeting that the system was having problems. That's good news for customers going into the weekend: