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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Stock markets stage recovery
  3. Pound rises on UK wage data
  4. Profits up at Goldman Sachs and Morgan Stanley
  5. Audi hit with €800m fine over diesel emissions
  6. Merlin Entertainments shares tumble
  7. Paddy Power Betfair fined £2.2m

Live Reporting

All times stated are UK

  1. Early bath

    We've got to close the livepage early today, but will re-open tomorrow at the usual time of 6am. Thanks for staying with us.

  2. Lad takeover

    Ladbible homepage

    Ladbible has taken over Unilad after the latter fell into administration.

    While the names might not be immediately familiar to livepage readers of a certain age, they are both UK news websites that are well known to an younger - especially male - audience.

    Indeed, Ladbible describes itself as redefining entertainment and news for a social generation.

    Unilad joint administrators Andrew Poxon and Andrew Duncan, from Leonard Curtis, said the sale has safeguarded more than 200 jobs in both Manchester and London.

  3. Walmart helps lift Wall Street

    Wall Street continues to bounce back from last week's sell-off. The three main indexes are up more than 1% as upbeat earnings from blue-chips such as Johnson & Johnson and Goldman Sachs ease jitters over the impact of rising interest rates and tariffs on corporate profits.

    All the 11 major S&P sectors were higher. Technology stocks, which led the market sell-off last week, and health stocks jumped more than 2%.

    Retail giant Walmart gained 2.1% after saying it expects US online sales to jump about 40% this financial year and that profitability in the business was in "good shape".

    The stock had fallen earlier after the retailer cut its profit forecast.

  4. Why BAE can't afford to offend Saudi Arabia

    Simon Jack

    BBC Business Editor

    There is one UK company that will definitely not be pulling out of next week's business conclave in Saudi Arabia's capital - and that is BAE Systems.

    The Kingdom bought one-sixth of everything the UK defence contractor sold last year and BAE employs 6,000 people on the ground there.

    While the rock stars of the business world shun the spotlight on Riyadh after the disappearance of Jamal Khashoggi at the Saudi embassy at Istanbul, BAE officials will, I'm told, make the trip.

    The UK wants to have a national aerospace contractor like BAE - both for national security reasons and for the nearly 40,00 high-skilled, high-paying UK jobs it creates.

    But a company that size cannot live by the bread the UK government gives it alone.

    To keep a British flag flying in the world of defence contracting, you need other customers. Over that same 30-year period, Saudi Arabia has been one of the UK and BAE's most loyal - and most controversial - customers.

    Read Simon's full blog.

  5. Is an Italy-EU showdown getting closer?

    Andrew Walker

    World Service economics correspondent

    Luigi Di Maio
    Image caption: Italian Deputy Prime Minister Luigi Di Maio says they are not seeking conflict with Brussels

    European Commission president Jean-Claude Juncker has strongly suggested that the EU is likely to reject the new budget proposed by the Italian government.

    The administration which took office in June wants to increase spending and to borrow more than Italy had previously agreed with the Commission.

    Italy's current administration wants to increase spending on welfare, pensions and other programmes to an extent that could aggravate a debt burden which is, on one measure, the EU's largest.

    Mr Juncker, the commission's top official, said that he and his colleagues would be covered with insults and abuse by some other countries if they accepted the Italian budget.

    Rejecting it could start a process that can ultimately lead to fines or restrictions on payments of EU funds.

  6. TomTom shares go in wrong direction

    TomTom sat-nav

    Shares in sat-nav firm TomTom are going into reverse on news the firm has lost a contract with carmaker Volvo.

    The move has fuelled speculation about Google's growing power in the dashboard software and infotainment market.

    Last month Google agreed a deal with Renault - another TomTom customer - and Volvo is tipped to swtich to the US tech giant.

    Analysts at ING said it looked like the battle between two established services - TomTom and HERE - was becoming a three-way fight.

    TomTom's shares were down 14% in early New York trading.

  7. Volvo probes emissions problem

    Volvo trucks

    Shares in truck maker Volvo Group fell as much as 6% on Tuesday after it said a component that controls emissions is degrading more quickly than expected.

    As a result engines could exceed emissions limits for nitrogen oxides.

    Volvo is still conducting tests but says thje financial impact could be "material" which is business speak for quite big.

  8. Judge approves Tesla fine

    Elon Musk

    A US judge has approved the settlement between the Securities and Exchange Commission, Tesla and its chief executive Elon Musk.

    Mr Musk agreed to pay a $20m fine and step aside as Tesla's chairman for three years to settle charges that could have forced his exit from Tesla.

    The electric car maker also accepted a $20m fine despite not being charged with fraud.

  9. Reader berates FT's lack of black columnists

    A Financial Times reader has taken the Pink 'Un to task for its failure to run a single opinion piece by a black writer this year.

    How do we know this? The FT has published a letter from a reader, Ahmed Olayinka Sule, calling the paper out on its failure.

    To his credit, FT editor Lionel Barber tweeted the letter, which is the lead item on its letters page in the print edition today.

    View more on twitter
  10. JD Sports finance chief to retire

    JD Sports store

    Sportswear retailer JD Sports has announced that its chief financial officer, Brian Small, is to retire at the end of this month.

    Mr Small, who has been at the company for nearly 15 years, will be replaced by Neil Greenhalgh, who is currently the company's group finance director.

  11. Wall Street opens higher

    NYSE traders

    We're off and running on Wall Street. In the first few minutes of trade the Dow Jones is up 225.42 points at 25,475.97.

    The S&P 500 opened 16.26 points higher at 2,767.05, while the tech-heavy Nasdaq rose 75.65 points to 7,506.39.

  12. US spending $1.5bn a day on interest payments

    dollar

    Every day last year, on average, the US government paid about $1.5bn in interest payments on its debt.

    And that figure is heading towards $2bn, according to Torsten Slok at Deutsche Bank Research.

    If you are a fan of such mind-boggling numbers, then there's more here.

    Hat-tip to Barry Ritholtz for that.

  13. Cancer drug sales boost J&J

    Pills

    Johnson & Johnson has reported better-than-expected third-quarter results after seeing strong demand for its cancer drugs Zytiga and Imbruvica.

    Total sales rose 3.6% to $20.35bn, which was above analysts' estimates.

    The company also slightly raised its earnings forecast for this year. It now expects earnings per share of between $8.13 and $8.18, up from a previous range of $8.07 to $8.17.

  14. Walmart cuts earnings forecast

    Walmart store

    US retail giant Walmart has cut its annual profit forecast following its purchase of a majority stake in Indian online retailer Flipkart.

    The company is now expecting earnings per share of between $2.65 and $2.80, down from its previous forecast of between $2.90 and $3.05 per share.

    Walmart also forecast that its growth in e-commerce would be about 35% next year, slower than the 40% growth expected this year.

  15. Small firms set to gain access to ombudsman

    Kevin Peachey

    Personal finance reporter

    More than 200,000 small businesses will be able to use a free arbitration service when in dispute with banks, according to plans outlined by the City regulator.

    The Financial Conduct Authority (FCA) is planning to extend access to the Financial Ombudsman Service (FOS) to small enterprises.

    It wants firms with fewer than 50 employees and an annual turnover of less than £6.5m, or an annual balance sheet of below £5m to be able to refer unresolved complaints to the service from April.

    It is also proposing that the maximum amount of compensation that can be paid by FOS is increased from £150,000 to £350,000.

    The FOS has faced criticism for how it deals with a heavy workload, including a flood of claims in recent years about payment protection insurance (PPI).

  16. Uber approached over possible IPO- WSJ

    Uber

    Wall Street banks have sent Uber proposals that value the ride-hailing company at as much as $120bn, that's according to the Wall Street Journal.

    The report says Uber might sell shares for the first time early next year.

    If Uber were to acheive such a lofty valuation, it would be worth more than General Motors, Ford and Chrysler combined.

    Banks will be keen to put together the Uber share offering, as it would be a lucrative payday.

  17. Goldman profits boosted by IPO business

    Goldman

    Goldman Sachs has reported third quarter net profits of $2.5bn up 19% from $2.1bn in the same quarter last year.

    Investment banking sales were up 10%, helped by strong demand for IPOs.

    Its important FICC (Fixed income instruments, currencies and commodities) division were 10% lower than the previous year.