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Live Reporting

Bill Wilson and Simon Read

All times stated are UK

  1. Good night

    Test card

    That's it for today on Business Live.

    We'll be with you at 6am tomorrow morning to bring you all the latest breaking news and analysis from the business world.

    We're expecting trading updates from GSK, Next and Standard Chartered.

    Meanwhile the latest quarterly personal and company insolvency figures will be released.

  2. Aperol Spritz sales boosts Campari

    Aperol Spritz

    Meanwhile in today's booze news, the Campari group beat sales expectations in the third quarter after it was boosted by strong Aperol sales in the UK and across Europe.

    The Italian spirit giant posted a 4.9% jump in turnover for the three months to September as sales also strengthened in the US.

    Sales soared 27.9% in the UK for the period as it was bolstered by the sustained popularity of the Aperol Spritz and Negroni cocktails, boosting Aperol and Campari sales respectively.

  3. Juul axes senior executives

    Juul has axed a number of senior workers as part of its shake-up.

    Chief administrative officer Ashley Gould and chief financial officer Tim Danaher, two veteran employees at the young start-up, were let go.

    Newcomers Craig Brommers, chief marketing officer, and David Foster, senior vice president of advanced technologies, also left.

  4. Juul to axe 15% of staff

    Vaping man

    E-Cigarette maker Juul is to cut up to 15% of its staff as it attempts to deal with a growing backlash against vaping

    It has pulled back sharply from plans for rapid growth after attracting close scrutiny from regulators and lawmakers wary of the health impacts of vaping, particularly among young people.

    “To right-size the business, the workforce will be reduced between now and the end of the year,” Juul said.

    Around 500 jobs could go, the Wall Street Journal reported

  5. FTSE falls 0.34%

    The FTSE 100 closed at 7,306.26 after falling 25.02 or 0.34% today.

    Meanwhile the wider FTSE 250 closed today at 20,168.33, down 41.83 or 0.21%.

  6. Pound up today

    One pound

    Sterling has climbed 0.23% against the dollar today to $1.2890.

    Against the euro it's risen 0.11% to 1.1600.

  7. Tesla US revenue slumped 39%

    Tesla car

    Tesla's third-quarter revenue slumped 39% in the United States, its first drop in more than two years.

    But it's not all doom at the electric car maker as sales in China and other regions surged.

    US sales, which account for the biggest share of the company's total revenue, fell to $3.13bn (£2.43bn) from $5.13bn (£3.98bn) a year earlier.

    Sales in China rose 64% to $669m and its 'other segment', which covers the rest of the world, rose by more than a billion dollars to $1.83bn.

    The company's shares have fallen 3.1% to 317.54 on the news.

  8. GM to spend more on electric vehicles

    GM sign and car

    General Motors expects to spend more on developing and selling electric vehicles than gasoline-powered cars over the next five years, its chief executive Mary Barra has predicted.

    She told analysts that electric vehicles will require "somewhat less" labour than gas-powered cars but added that added that the company's engine and transmission plants will not be threatened.

    Barra also emphasized that gas-powered vehicles will make up a large portion of US sales into the 2030s.

  9. Boeing boss admits mistakes

    Dennis Muilenburg
    Image caption: Dennis Muilenburg giving evidence at the hearing

    Boeing boss Dennis Muilenburg is still being questioned by US senators over what the company knew about its MCAS stall-prevention system linked to the two deadly 737 MAX crashes.

    He has acknowledged errors in failing to give pilots more information on MCAS before the crashes in Ethiopia and Indonesia, as well as for failing to tell the Federal Aviation Administration for months that it made an alarm alerting pilots to a mismatch of flight data optional on the 737 MAX.

    “We’ve made mistakes and we got some things wrong. We’re improving and we’re learning,” he said.

    Roger Wicker, chairman of the Senate Commerce Committee, questioned Muilenburg over the company’s delay in releasing internal messages.

    In those messages, a former test pilot described erratic behaviour of a simulator version of the same software now linked to the deadly crashes, and also mentioned “Jedi-mind tricking” regulators over training requirements.

    Wicker said those messages revealed a “disturbing level of casualness and flippancy.”

    Muilenburg said he apologised to the FAA administrator for the delay in turning over the messages, and said additional documents would likely be provided over time.

  10. Jessops rescue deal gets two week extension

    Jessops store

    Dragon's Den star Peter Jones has delayed the planned restructuring of camera chain Jessops by two weeks as he thrashes out a rescue deal with landlords of high street stores.

    Mr Jones is understood to have secured a two week extension to the notice of intention to appoint administrators for the stores, according to a PA Media report.

    JR Prop Ltd - the leasehold property estate manager - filed a notice of intention to appoint Resolve as administrators two weeks ago.

    Mr Jones is believed to be looking to secure a company voluntary arrangement (CVA) rescue deal with creditors to shut unprofitable sites and slash rents.

  11. LGBT criticism of Chick-fil-A Scottish outlet

    Chick-fil-A bag and MacDonald Aviemore resort sign

    A US fast-food chain criticised for making donations to anti-LGBT rights groups has opened a restaurant in Aviemore - its first Scottish outlet.

    Chick-fil-A's first UK outlet, which is in Reading, is set to close following boycott calls earlier this month.

    Highland LGBT Forum has criticised the opening of the restaurant at the MacDonald Aviemore Resort.

    Chick-fil-A said it was focused on food and hospitality and did not have a social or political agenda.

    Read more

  12. Boeing accused of 'pattern of concealment'

    Boeing chief executive Dennis Muilenberg

    US lawmakers have accused Boeing of creating a "pattern of deliberate concealment" as it sought approval for its 737 Max 8 model to fly.

    The accusation came while Boeing chief executive Dennis Muilenburg was being quizzed by the Senate Commerce Committee.

    Senators said they had serious concerns that Boeing put profits over safety as it rushed to get clearance.

    Two deadly 737 Max 8 crashes killed a total of 346 people. Mr Muilenberg admitted the firm had made "mistakes".

    "We have learned from both accidents and identified changes that need to be made," he said.

    Read more

  13. No 10 could pull election bill

    Meanwhile confusion continues about December's proposed general election.

    The latest news is that the government will pull the election bill if it’s amended to extend the franchise to include 16-year-olds and EU Citizens, No 10 says.

    A spokesman said a vote to change the franchise would create a six-month delay.

    The spokesman said: “Nothing would sum up how broken this parliament is if after them all standing up there and saying they want a general election – they vote for an amendment which is deliberately designed to actually prevent the delivery of a general election before 2020.”

    View more on twitter
  14. Do you want fries with that ketchup?

    Ketchup and chips

    That ketchup report also throws up our favourite figure of the day...

    33,000 tonnes - the amount of tomato ketchup consumed in the UK last year.

  15. Ketchup demand stagnates

    Man with ketchup on shirt
    Image caption: Man decides he hates ketchup

    There's bad news for red sauce lovers: global demand for ketchup is stagnating.

    Tomato ketchup exports fell this year partly because of changing eating habits and rising temperatures in Europe.

    But they were also hit because of an anti-Heinz campaign in Canada and a trade spat between Ottowa and Washington which led to a fifth less Canadian orders for the sauce.

    The Netherlands, the second largest exporter of ketchup after the US, showed a sharp drop in shipments to its main market destinations including Germany (-22.77%) and France (-11.88%).

    "Millennials are keener to consume fresh products, organic and superfood, pulling consumers away from fast food restaurants," said Cristina Nanni, of IHS Markit's Agribusiness Intelligence, which published the report.

  16. Treasury Committee asks Chancellor to appear

    Sajid Javid

    Mel Stride, Chair of the Treasury Committee, has written to the Chancellor today with a series of questions, principally to find out if Sajid Javid will appear before the Committee.

    “It’s been over six months since the previous Chancellor’s final evidence session with the Treasury Committee in April. The current Chancellor has been in office for over three months, and we would hope that he would agree to appear before us sooner rather than later," Stride said.

    “The Chancellor should also set out whether the OBR’s new analysis will contribute to their statutory duty to publish two forecast each fiscal year. If not, he should set out how he will support the OBR in publishing two forecasts in the remaining 22 weeks of the current fiscal year.”

  17. S&P hits fresh record high

    The S&P 500 has hit a fresh record high today, climbing 0.22% to 3,046.25.

    It's been lifted by upbeat figures from drugmakers Merck and Pfizer.

    The Dow Jones Industrial Average has risen 0.18% to 27,138.91.

    Not such good news at the technology-driven Nasdaq index which has slipped 0.20% to 8,309.64 after disappointing quarterly figures from Google-owner Alphabet.

  18. Aon moves jurisdiction to Ireland from Britain due to Brexit

    Manchester United players
    Image caption: Aon is a former sponsor of Manchester United

    Insurance broker Aon said it plans to move its parent company's jurisdiction of incorporation to Ireland from Britain due to Brexit.

    The New York-listed insurer will keep its operational headquarters in London and the switch of jurisdiction will not affect its business operations, reporting requirements or listings, it added.

    "Remaining within the European Union single market will help the firm maintain a stable corporate structure and capital flexibility," the firm said.

    The move is subject to shareholder approval and is expected to complete in the first quarter of 2020.

  19. Boeing chief faces Senate grilling

    Dennis Muilenburg
    Image caption: Dennis Muilenburg responding to Senate questions

    Boeing boss Dennis Muilenburg is currently responding to questions from senators over the fatal 737 Max crashes that killed nearly 350 people.

    He tells the US lawmakers that he is "deeply and truly sorry".

    We'll bring you more of his testimony as it livens up.