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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Majestic to become Naked
  3. Sports Direct slams Debenhams
  4. £5bn Autonomy fraud trial begins
  5. Apple to launch video streaming
  6. Inmarsat sold for $3.4bn

Live Reporting

By Russell Hotten

All times stated are UK

  1. Britons get 'bad deal' from broadband giants

    advert for broadband

    Britons who get their broadband from the UK's biggest suppliers are the "most likely" to be getting a bad deal, reports Which?

    The consumer group's latest broadband satisfaction survey places the big providers at the bottom of rankings for service.

    Customers complained about slow speeds, poor value for money, connection dropouts and general service problems.

    TalkTalk and Sky are the two firms at the bottom of the satisfaction survey.

    You can read more here.

  2. Station expansion plans to be revealed

    Waverley Station in Edinburgh

    Network Rail is to begin consultation on a long-term development plan for Waverley Station in Edinburgh.

    Passenger numbers at the station are expected to double to over 49 million by 2048.

    The Waverley Masterplan will be led by a partnership of Network Rail and City of Edinburgh Council.

    A key element is likely to be a mezzanine floor above existing platforms to create more space for passengers.

  3. The pound holds steady

    Sterling has steadied, helped by a weaker dollar and unconfirmed reports that Prime Minister Theresa May was preparing to put her Brexit withdrawal plan to a vote in parliament on Tuesday.

    The pound was flat against the dollar at $1.3212, and was marginally down against the euro at 85.64 pence

  4. New Edinburgh to Vienna service launched

    Laudamotion

    Austrian airline Laudamotion is to launch a direct service between Edinburgh and Vienna in the autumn.

    The airline, which operates as Lauda, will fly between the cities three times a week from 27 October to 26 March.

    The service will operate on Tuesdays, Thursdays and Sundays using an Airbus A320.

    Laudamotion was founded by Formula 1 racing legend Niki Lauda but became a fully-owned subsidiary of Ryanair in January.

  5. Drivers' given more time to get EU green card

    Cars on ferry

    British drivers heading to Europe now have until 12 April to get a green card in case of a no-deal Brexit.

    The documents - which guarantee third-party cover when on the road on the continent - will be needed if the UK leaves the EU without a deal.

    Read more here

  6. Wall Street opens flat

    Wall Street

    Wall Street shares have opened flat, as markets around the world reacted to an inverting bond yield curve, which could signify a US recession.

    The Dow Jones Industrial Average is 62.6 points or 0.3% lower to 25,439.76.

    The S&P 500 is just 2.7 points or 0.1% down to 2,799.25.

    And finally, the tech-heavyNasdaq is just 45.6 points or 0.6% lower to 7,598.47.

  7. Crippling debt ‘linked to depression’

    Kevin Peachey

    Personal finance reporter

    An empty wallet

    People with mental health issues are three-and-a-half times more likely to be in problem debt than those without such conditions, analysis suggests.

    This link was even stronger for certain conditions such as bipolar disorder and depression, the Money and Mental Health Policy Institute said.

    It said those with Obsessive Compulsive Disorder (OCD) were six times more likely to have serious money troubles.

    It is leading calls for greater protection for those in this situation.

  8. Women workers earn 51% less at Goldman Sachs

    Goldman Sachs

    Goldman Sachs paid women 51% less than men per hour in 2018 in the UK. according to the firm’s latest gender pay gap report.

    The gap does not reflect the bank paying women at the same level differently from men, the bank said, but rather the fact that fewer women hold the more senior roles that have higher salaries and bonuses.

  9. Former Enron boss wants to go into blockchain

    Jeffrey Skilling
    Image caption: Jeffrey Skilling in 2006 after sentencing

    Former Enron chief executive Jeffrey Skilling is apparently planning to go into a new energy finance venture that involves blockchain technology, according to the Wall Street Journal.

    Mr Skilling, who was convicted in 2006 on charges of insider trading, fraud and conspiracy for his role in one of the biggest corporate scandals in history, is out of prison after serving over 12 years.

    Sources told WSJ that he is apparently meeting with former Enron executives to try to secure funding for his new venture.

  10. Pound flat on continued Brexit uncertainty

    Pounds, dollars and euros

    The pound is currently flat, ahead of a crucial week of House of Commons votes.

    Sterling is now just 0.03% up against the dollar at $1.3213, and 0.07% ahead against the euro at €1.1696.

  11. Holidaymakers to get clearer car hire pricing

    Kevin Peachey

    Personal finance reporter

    Car rent sign

    The final cost when making an online booking with one of Europe’s five biggest car hire companies should now be clearer following action by regulators.

    Holidaymakers should see extra costs, ranging from young driver or fuel surcharges to the extra cost of dropping the car at a different location, reflected in the headline price.

    The companies – Avis, Europcar, Enterprise, Hertz and Sixt – have agreed to make prices clearer, including optional extras such as the cost of child seats.

    Most of the changes are already in place, benefiting holidaymakers this summer, but Hertz said that the translation of terms and conditions in all national languages would not be ready until the first quarter of next year.

    Consumer helplines have reported regular complaints about cross-border car hire, but the Competition and Markets Authority (CMA) said the sector had “vastly improved” since its ongoing intervention in recent years.

  12. Dusseldorf or Edinburgh? BA flight goes to wrong destination

    Edinburgh

    A BA flight destined for Dusseldorf has landed in Edinburgh by mistake, after the flight paperwork was submitted incorrectly.

    WDL Aviation was operating the BA flight as part of a leasing arrangement, but all passengers on board had booked with British Airways.

    BA said the pilot wasn’t lost at any point, but because the paperwork said Edinburgh, air traffic control allowed the flight to take that route.

    It was only when the plane landed in Edinburgh and the announcement was made saying “welcome to Edinburgh”, was the mistake realised.

    BA said the flight is now making its way from Edinburgh to Dusseldorf.

  13. More recycled clothes promised at Asda

    George clothes

    Asda's fashion arm George said it will only use recycled polyester by 2025.

    Its new spring/summer range launched today already includes some blouses and dresses made with fabric from recycled polyester clothing.

    Meanwhile its homeware includes cushions and throws made from recycled plastic bottles.

    Senior vice president for commercial, Nick Jones, said: “As the second largest clothing retailer in the country, we have a responsibility to do the right thing by our customers, not only on the price and quality of our goods, but also on the impact we have on the world around us."

    The retailer also commited to sourcing only certified sustainable viscose and sustainable cotton by 2025.

  14. Nike fined €12.5m for breaking cross-border sales rules

    Chelsea player wearing Nike shirt

    Nike has been fined €12.5m for unlawfully restricting cross-border sales of football shirts, scarves and other merchandise, raising prices and reducing choice for consumers.

    EU Commissioner Margrethe Vestager, in charge of competition policy, said:"Football fans often cherish branded products from their favourite teams.

    "Nike prevented many of its licensees from selling these branded products in a different country leading to less choice and higher prices for consumers.

    "This is illegal under EU antitrust rules."

    The Commission concluded that Nike's illegal practices, were in force for approximately 13 years, from 1 July 2004 until 27 October 2017.

  15. Autonomy fraud trial underway

    Autonomy

    The UK's biggest-ever fraud case is underway.

    It's over the £8.4bn sale of the software firm to Hewlett-Packard in 2011.

    HP alleges that Autonomy founder Mike Lynch and chief financial officer Sushovan Hussain inflated the value of Autonomy before that sale.

    A spokesperson for Mike Lynch said: “There was no fraud at Autonomy. Rather, this is a case that distils down to a dispute over differences between UK and US accounting systems.

    "The real story is that HP, after a history of failed acquisitions, botched the purchase of Autonomy and destroyed the company, seeking to blame others. Mike will not be a scapegoat for their failures.”

  16. Co-op says sorry

    Responding to that slap on the wrist from the Groceries Code Adjudicator, Jo Whitfield, food chief executive officer, said:

    Quote Message: We're sorry. We've gone to great lengths to put things right and have undertaken a root and branch review of all our supplier dealings. We were focused on rescuing the Co-op and doing right by consumers but we should have also given more thought to the potential impact those planned changes would have on our suppliers.
  17. Co-op 'breached code on de-listing and charges'

    Co-op bag

    The Groceries Code Adjudicator has ordered the Co-operative Group to make major changes to its governance after finding that the supermarket chain breached the Groceries Supply Code of Practice on two counts.

    The Co-op failed to provide reasonable notice to suppliers of decisions to de-list products, and also changed supply agreements unilaterally and without reasonable notice.

    However the Groceries Code Adjudicator said that the Co-op's decision was not malicious and had already repaid the suppliers that it identified as having had charges introduced without sufficient notice.

    "Systems, processes, business practices and the ability of different parts of the retailer to affect suppliers’ risks and costs of trading with the company all contributed to Co-op breaking the Code. At the core there was inadequate governance to oversee and manage Code compliance," said Groceries Code Adjudicator Christine Tacon.

    “The clear conclusion is that Co-op needs to take a very different approach to Code compliance. I have made robust recommendations for urgent action and I will be helping the retailer change its approach by monitoring closely how they implement those recommendations.”

  18. Jet Airways founder to step down

    Naresh Goyal

    Jet Airways founder Naresh Goyal and his wife Anita Goyal will step down from the board of the airline. Mr.Goyal will also step down as chairman.

    Naresh Goyal, his wife and their family own a stake of almost 52% in the airline.

    The stake will be reduced as the lenders will be converting the debt issued to them into equity.

    Etihad Airways owns 24% stake in the airline.

    Lenders will invest $210m in the form of debt to help normalise operations, and they will also start a bidding process to sell shares to a new investor.

    The process is expected to be completed by mid-summer.

  19. Noel Edmonds legal backer raises £325m

    Noel Edmonds

    Litigation specialist Therium has raised £325m from institutional investors to pay for more legal actions.

    The firm funds lawsuits and then takes a portion of the damages if successful.

    It has bankrolled the class action lawsuit against car giant Volkswagen over the emissions scandal and is the money behind Noel Edmonds' legal war with Lloyds Bank.

    The investment comes from two existing investors and, for the first time, a sovereign wealth fund.

    Therium said the cash will be used to for more litigation cases globally.