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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. Lynch denies charges in UK's biggest fraud trial

    Today Programme

    BBC Radio 4

    Mike Lynch

    One of Britain's biggest fraud trials - and certainly one of the most keenly awaited gets on underway today.

    HP is suing one of Britain's best known tech entrepreneurs, Mike Lynch.

    HP bought Mr Lynch's company Autonomy in 2011 for $10bn - it is suing him for $5bn, saying he and his chief financial officer over-inflated its value - in essence by false accounting.

    "It sold itself to the stock market as a purely software company, but according to HP it was reportedly selling computers and laptops from other companies at a loss, purely to get those quarterly revenue figures - which the market and HP were looking at - up," BBC technology correspondent Rory Cellan-Jones told Today.

    On Friday, new criminal charges of securities fraud were laid against Mr Lynch by US prosecutors.

    Mr Lynch has consistently denied all the charges made against him - he alleges that HP ran Autonomy into the ground through mismanagement.

  2. Will people want yet another video streaming subscription?

    Today Programme

    BBC Radio 4

    Netflix app on mobile phone

    Today Apple is expected to announce a video streaming service - essentially its answer to Netflix.

    The new Apple TV will have its own original series from the likes of Oprah Winfrey and Reese Witherspoon, and will, we think be available on non-Apple devices.

    But many people already have subscriptions to Netflix and other services like Amazon Prime, so will they want yet another one?

    "It will bring together lots of programmes and probably bundle them together at an attractive price, and in so doing so become the one point of purchase, you'll have one login for all of these services, and really alleviate some of this subscription fatigue we're starting to see," Ben Stanton, senior analyst at technology research firm Canalys told BBC Radio 4's Today programme.

    "Not working with Netflix will be damaging for it, and we won't be seeing Amazon Prime on there. People might still have three or four subscriptions."

  3. Are retailers' rents too high?

    BBC Radio 5 Live

    Wake Up To Money

    Inverness high street

    It's rent day for retailers with quarterly rent due across the sector.

    But are high rents part of the problem of stores?

    Rachel Lund of the British Retail Consortium, told Wake Up To Money: "We are seeing that, overall, rents are coming down but in a lot of cases they aren't coming down quick enough."

    She warned that there's not always "an easy solution" as "landlords are running a business too".

    But she said that "a little bit of creativity over rents can go a long way".

  4. Huawei steps up foreign university investment

    A woman laughs while using her smartphone outside a Huawei store in Beijing on January 29, 2019.

    Chinese telecoms giant Huawei is stepping up investment into foreign universities, despite US pressures on academic institutions to sever ties with the firm, the Financial Times has reported.

    Huawei board director William Xu said the company spends more than $300m a year on university funding and partnerships and that its collaboration with universities will only increase, the newspaper reported.

    Several governments, led by the US, are boycotting Huawei products due to concerns they pose a national security risk.

    Huawei has gone on the offensive in reponse, and most recently has filed a lawsuit against the US government over a ban that restricts federal agencies from using its products.

  5. Uber close to acquiring Dubai-based rival

    A man holds up a smartphone showing the Uber app in Barcelona (02/02/2019)

    Ride-hailing company Uber is set to announce a deal to acquire Dubai-based rival Careem for about $3.1bn as soon as this week, according to media reports.

    Bloomberg said Uber would pay $1.4 bn in cash and $1.7bn in convertible notes for Careem, citing people with knowledge of the matter.

  6. Are we heading towards a softer Brexit?

    BBC Radio 5 Live

    Wake Up To Money

    Theresa May

    How will markets respond to the weekend's news from Chequers? Thomas Moore of Aberdeen Standard Investments told Wake Up To Money: "We'd all love to know what's happening next with Brexit!"

    Until that happens, turmoil remains.

    He said: "If you cut through all the emotion from the weekend and all these threats to push Theresa May over the edge I think actually we're pivoting towards a softer Brexit."

    The good news, he added, is that "No-deal Brexit isn't going to happen this Friday, which is one thing the markets have been worrying about."

  7. Asian stocks fall sharply

    Asian stocks slumped, tracking global equity falls made on Friday as a US yield curve inversion raised concerns about the world's largest economy.

    For the first time in over 10 years, the rate of return (yield) on three-month US bonds rose above 10-year yields on Friday, something which is seen as an indicator that a recession could be coming.

    Japan's benchmark Nikkei 225 fell over 3%. In China, Hong Kong's Hang Seng index slumped 1.8% and the Shanghai Composite eased 1.4%.

  8. Good morning

    Welcome to Monday's Business Live page - we'll be with you until around 9.30pm.

    Later on today we'll be hearing news of Apple TV, rumoured to be the tech giant's biggest launch since the iPhone.

    Meanwhile the biggest fraud trial in British history begins at the High Court with the civil fraud trial of former Autonomy chief executive, Mike Lynch.

    There'll also be figures from Hansteen Holdings and Pennon Group.

    We'd love to hear your comments on the breaking stories - get in touch at bizlivepage@bbc.co.uk

  9. What's in today's papers

    Business sections

    News that Shell is rebranding First Utility - the company it bought a year ago - as Shell Energy leads The Times' Business section, with the headline: "Shell's power play turns up the heat on Big Six".

    The Guardian reports that record-breaking Autonomy high court fraud trial with the heading: "New charges against Autonomy founder allege plot to hide fraud".

    In The Financial Times it's the May crisis story. The paper says: "May's battle to win over sceptics spurs doubts on survival chances".