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Live Reporting

Tom Espiner

All times stated are UK

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  1. Goodnight

    That's all from the biz live page for today. Join us again tomorrow at 06:00 for more breaking business news.

  2. McDonalds to roll out all-day breakfasts in the US

    A McDonald's Big Mac, their signature burger, is held up near the golden arches at a McDonalds's

    McDonald's will start to sell all-day breakfasts across the US on 6 October to try to help reverse sagging, flabby sales at the fast-food chain.

  3. Wall Street closes sharply down

    Traders work on the floor of the New York Stock Exchange

    Wall Street has limped to a close after weak China manufacturing data stoked investor concerns about a possible slowdown in the world's second biggest economy. The Dow Jones finished 2.83% lower at 16,059.49, the S&P 500 closed 2.95% down at 1,914.01, and the tech-heavy Nasdaq closed 2.94% lower at 4,636.10.

  4. ConocoPhillips to cut 1,810 jobs

    A ConocoPhillips oil refinery

    Energy company ConocoPhillips says it is cutting around 1,810 jobs, or 10% of its workforce, following a drop in oil prices. The cuts will mainly fall in North America, with 500 to go in Houston, where the firm is based. ConocoPhillips has already axed 1,000 jobs this year.

  5. Audio tape cassettes 'not dead'

    An audio tape cassette

    Did you think audio tape cassettes had gone the way of the dodo? Apparently not, according to US cassette maker National Audio Company. Bloomberg Business says the firm has had its best year since opening in 1969. "You can characterise our operating model as stubbornness and stupidity. We were too stubborn to quit," says the firm's president Steve Stepp.

  6. Police arrest former Rangers boss

    Charles Green, former owner of Rangers

    Former Rangers chief executive Charles Green (pictured left) has been arrested as part of an investigation into the "alleged fraudulent acquisition" of the Glasgow football club in 2012. The 62-year-old arrived at Livingston police station in West Lothian earlier, where he was understood to have been interviewed by officers about his time at the club.

  7. Asos moves

    Nick Robertson, the founder and chief executive of the online fashion retailer Asos, is to step down 15 years after it, reports The Telegraph.

    He started it in 2000 and took it the stock market in 2001. Apparently he will remain as non-exec and Nick Beighton, currently the chief operating officer will reportedly step up to the chief executive job.

  8. New Google logo

    "Simple, uncluttered, colorful, friendly" says Google of its new logo.

    New Google logo
    Image caption: The updated logo drops the san serif style of the earlier incarnation

    Here it is. Apparently it's more mobile friendly. Can you spot the differences with the old one?

  9. Canada recession

    "I think it's more important to describe the reality of the situation rather than to have labels," says Canada's prime minister Stephen Harper, as he discusses the reality of the country slipping into recession.

    The figures did show that in June activity picked up, leading some analysts to speculate that the worst may be over.

  10. 'Looking for cool'

    And on that hire by LVMH, Damien Douani, a new technologies expert at the FaDa consultancy has told AFP: "LVMH may also have been looking for some 'cool', a quirky background, to sweep the dust off itself" as luxury companies try to freshen up their images.

  11. From Apple to LVMH

    Last week we heard that Ian Rogers, the Apple exec who helped to launch its streaming service, was leaving the company.

    Now it's being reported that the luxury firm LVMH, owner of brands such as Marc Jacobs and Louis Vuitton, has hired him to help develop its online presence.

  12. Dow tumbles

    Still not a single company share gaining on the Dow. The biggest losers are JP Morgan and Exxon Mobil.

    Overall the market is down around 400 points, or 2.5%, at 16,113.33.

  13. Rouble follows oil rollercoaster back down

    A man scratches his head standing next to a board showing currency exchange rates of the US dollar and euro against the rouble in Moscow, Russia

    The rouble has fallen today after a surge the yesterday evening, tracking similarly volatile moves in oil prices. This afternoon, the rouble was 3% weaker against the dollar at 66.27 cents and down 3.3% to 74.62 euro cents versus the euro.

  14. Oil prices fall again

    Oil drilling rig Polar Pioneer is towed toward a dock in Elliott Bay in Seattle

    Oil prices have tumbled today and Brent futures fell back to around $50 a barrel after weak Chinese manufacturing data revived concerns about global demand for petrol. Brent crude fell 6.6% to $50.60, and West Texas Intermediate crude fell 4.8% to $46.14.

  15. Iran plans big oil market return

    Bijan Zanganeh

    If the US Congress backs a nuclear deal struck with Iran in July, sanctions against the country will be lifted. Iran, which has the world's fourth largest oil reserves, will be free to enter the market again. This could put further downward pressure on oil prices, which have already been falling due to over supply. But Iran's oil minister Bijan Zanganeh tells CNN Money that his country would not accept a delay in coming back into the market, which would secure the market for others: "Can we wait, and not produce... Who can accept it in Iran?" Mr Zanganeh says.

  16. Miners finish lower on FTSE 100

    Mining firm shares fell sharply on the FTSE 100 today after weak manufacturing data from China. Glencore closed almost 10% down, Anglo American fell 7.64% , and BHP Billiton closed 6.71% down.

  17. HS2 to cause 'years of misery'

    BBC transport correspondent tweets...

  18. FTSE 100 closes lower after weak China data

    The FTSE 100 share index has closed 3.03% lower after an official index of Chinese manufacturing fell to a three-year low. In Frankfurt, the Dax closed 2.38% lower, and in Paris the Cac 40 finished 2.40% down.

  19. Life expectancy increase: 'Prepare your pension'

    An elderly person sits in a chair at home

    Official data has showed an increase in life expectancy in the UK by around three years per decade for the last 100 years. Around 20% of men and about 31% of women can expect to survive to celebrate their 90th birthday. Tom McPhail, head of pensions research for Hargreaves Lansdown, said: "It is vital to ensure you have made financial preparations to meet your income needs well into your third, or even your fourth decade of retirement. For many people, an annuity will continue to be the logical retirement income choice for at least part of their pension fund."

  20. Oliver Bonas founder: Living wage 'important'

    Oliver Tress

    Oliver Tress, the founder of Oliver Bonas, has been talking to the BBC's Victoria Fritz about why his firm became the first UK high street retailer to sign up to paying the living wage. Mr Tress said: "It was a difficult decision. It was quite a daunting financial decision... We want to keep the people we've got for longer, and we want to attract a high calibre of people... To build a sustainable business, for me, paying a living wage is the foundation of that. I want to build for the long term, and I want to work in an exciting business where morale is high and everyone's enthusiastic about achieving the same goal."

  21. Poundland trials online shopping service

    Poundland sign

    UK discounter Poundland has launched a trial online shopping service. More than 2,000 products are being made available to buy through its website - many for £1, in line with the shop's ethos. There's no minimum amount that people need to order to use the online service. But shoppers looking for a bargain will need to bear in mind that Poundland charges a £4 flat delivery fee per order. It will also take up to four or five working days for a delivery to arrive. Delivery is free for orders over £50.

  22. HSBC business customers write...

    HSBC cash machines

    HSBC has been unable to cope with the number of people logging on to its internet business banking services today after transaction problems on Friday.

    A number of people have contacted the BBC over HSBC business banking difficulties.

    Adrian Harries says: "Keep getting the message that the [HSBC] site is receiving a 'higher than normal traffic' and to 'please sign back in a few moments'. Suppose its another day of frustration!"

    David Jepson says: "My pension is always transferred to my HSBC account by, at the latest, the last Thursday in the month. Not so this month, it is now four days late and I am now overdrawn."

    Nick Hendy says: "My business is still unable to access HSBC online!! The are still having problems, its down but they say its running slow. I can't access it, not great for a business of 10 people."

    Cassie Sheppard says: "How can we as businesses cope with no access to payments and cash flows over a bank holiday when we have no access on Friday and on Tuesday. We have bills to pay!"

    Mark Hall: "Looks like the problems are not all solved."

  23. HSBC business banking suffers overload problems

    Kevin Peachey

    Personal finance reporter, BBC News

    Some disgruntled HSBC Business customers have been in touch. Following Friday's IT problems that saw 275,000 payments delayed, the bank says that its internet business banking services may have been sluggish for some customers today owing to the high volume of people logging on as they returned to work. It stresses that all delayed payments were processed by Friday night.

  24. US manufacturing growth 'slows in August'

    Assembly on SUV chassis at the General Motors Assembly Plant in Arlington, Texas

    The pace of US manufacturing growth slowed in August to its weakest in over two years, an industry report suggests. The Institute for Supply Management (ISM) said its index of national factory activity fell to 51.1 from 52.7 the month before, marking the lowest reading since May 2013. A figure above 50 indicates expansion in the manufacturing sector.

  25. Miners take a hammering as FTSE 100 slips

    Mining firms continue to take a beating on the FTSE 100 following weak Chinese manufacturing data. The index itself is 2.84% lower at 6,070.63. Glencore is down 7.62%, Anglo American is 5.7% lower, and BHP Billiton is down 5.39%.

  26. Wall Street opens lower on China jitters

    Wall Street trader

    Wall Street opens lower after weak Chinese manufacturing data heightened fears of a slowdown in the country. The Dow Jones is down 2.10% at 16,181.21, the S&P 500 is 1.93% lower at 1,934. 21, and the tech-heavy Nasdaq is 1.71% down at 4,695.04.

  27. Rocky road for US markets?

    Samira Hussain

    BBC News reporter, New York

    NYSE board

    The bell has rung... Lots of frenetic energy on the floor especially since rule 48 has been invoked. Watching the big board as stocks open lower.

  28. Canada falls into recession

    The Suncor refinery in Edmonton, Canada

    Canada's economy contracted by an annualised 0.5% in the three months to June, according to Statistics Canada, indicating a recession in the first half of the year. In the previous quarter, its economy shrank by an annualised 0.8%. Analysts said that the second quarter downturn was less than the 1% decline forecast by economists, and that the drop in oil prices was a big factor in the downturn in Canada's economy.

  29. Greek manufacturing decline continues

    A beer factory in Greece

    Greece saw a continued decline in the pace of its manufacturing sector in August, as output decreased and new orders deteriorated, figures suggested earlier. Markit's purchasing managers' index (PMI) for the country was 39.1, slightly up from 30.2 in July. A figure above 50 shows growth. It is the eighth consecutive month of falling production, says Markit. The country's financial woes continue as the government still has some capital controls in place to allow Greece to repay its international creditors.

  30. Iran to ramp up oil production - report

    North Sea Brent Crude

    Iran's oil minister says that output will be increased by 500,000 barrels per day once sanctions are removed, according to Bloomberg. The nation is currently producing 2.8 million barrels per day, the highest output in three years. Within months Iran could be producing an extra million barrels a day, the report says. As for today: North Sea Brent Crude is down 2.3% at $52.89 per barrel. That's still well above the six-and-a-half year low hit last week of $42.29 a barrel.

  31. Netflix expansion

    BBC World News

    Netflix has doubled its spending on new TV shows this year compared with last year, says Toby Syret, a TV research analyst for Enders Analysis on World News. Creating exclusive content is "very important" he says, particularly as it generates publicity and adds kudos. Netflix is spending heavily on expansion he says as "they know they have only got so much time to get ahead of the market before other people come in".

  32. The evolution of the UK auto industry

    John Moylan is the BBC's industry correspondent.

  33. China curbs tobacco advertising

    Two Chinese men smoking in Beijing

    In China new rules came into effect today to restrict tobacco advertising, as part of steps to curb the nation's health crisis, reports Reuters. With more than 300 million smokers, the country is the world's biggest consumer and producer of tobacco. The new rules ban tobacco adverts in mass media and public places.

  34. FTSE 100 bounces off lowest levels

    The FTSE 100 is still lower, but off the lowest levels for the session. "We are sellers across the board," said Mark Ward from Sanlam Securities. "People are getting back from holidays and trying to make sense of what is going on. The China headlines are not helping but I would say it's probably more down to sentiment than a huge shift in the actual economic outlook," he said.

  35. Axel Springer and Samsung co-operate

    Samsung phone

    German media giant Axel Springer is teaming up with Samsung to produce exclusive digital media for Samsung customers. The first product will be a news service in Germany and Poland, which will be extended to other European markets next year. Axel Springer publishes German tabloid Bild.

  36. Marissa Mayer expecting twins

    Marissa Mayer, the chief executive of Yahoo

    Marissa Mayer, the chief executive of Yahoo, is pregnant and expecting twin girls in December. "I plan to approach the pregnancy and delivery as I did with my son three years ago, taking limited time away and working throughout," she says in her blog. We assume she will put the laptop down during the delivery itself, but she's pretty high-powered, so you never know.

  37. Could Apple turn content producer?

    Apple store Paris

    Could Apple be moving into making TV shows and films? According to Variety magazine Apple has held preliminary conversations with Hollywood executives about "entertainment content". There's not much detail in the article and Variety says one source described the move as a "flirtation". Interestingly it says that Apple attempted to hire the stars of Top Gear when they left the BBC earlier this year.

  38. European stocks fall on global growth fears

    DAX graph

    German stocks have fallen more than 3% in mid-morning trade, while France's CAC-40 also fell 2.8%. Analysts say it is largely due to gloomy manufacturing data from China. "While a measure of calm has returned to these markets recently and they have seen relief rallies, many of the underlying negative fundamentals are still in place,'' Nariman Behravesh, chief economist for IHS, said in a report. He added that commodity prices and stock markets are likely to see falls persist for some time.

  39. Eurozone unemployment drops

    Office workers in London

    Eurozone unemployment dropped to 10.9% in July, according to figures from EU statistics agency Eurostat. That's a fall from 11.1% in June, and the lowest rate recorded in the eurozone since February 2012, said Eurostat. The lowest unemployment rate in July was recorded in Germany, where 4.7% of the population is unemployed.

  40. Macau gambling revenues continue decline

    Wynn Macau casino resort

    Gambling revenues in Macau declined 35.5% to $2.3bn in August compared with last year - and have been sliding for 15 consecutive months, reports Reuters, as China's slowing economic growth has exacerbated a gambling slump. Yesterday, Macau reported that compared with last year, its economic growth slowed by 26.4% in the three months to June.

  41. Pound falls on UK factory data

    Pound to dollar graph

    The pound has fallen against both the dollar and the euro after figures showing that UK manufacturing activity slowed in August (see earlier post). The pound fell 0.42% to $1.5328 and fell 1.4% against the euro to buy €1.3580.

  42. UK manufacturing growth cools

    UK factory

    UK factory activity expanded in August but not with the vigour of July according to the latest purchasing managers' index from CIPS/Markit. Its purchasing managers' index hit 51.5 in August down from 51.9 in July. "The UK manufacturing sector remains in a holding pattern, with production growth hovering around the stagnation mark and marginal job losses reported for the first time in 26 months," says Rob Dobson, senior economist at Markit.

  43. Chinese foreign exchange reserves falling - report

    Jamie McGeevor is chief markets correspondent at Reuters. He has picked up on an interesting note from Rabobank.

  44. German manufacturing growth speeds up

    A German factory worker

    Growth in German factory activity hit a 16-month high in August, according to a survey of purchasing managers. Markit's purchasing managers' index (PMI) for Germany rose to 53.3 in August, up from 51.8 in July. Any figure above 50 shows growth. Manufacturing makes up about one fifth of the German economy.

  45. Crackdown on minimum wage dodgers

    Radio 5 live

    Prosecutions of companies that do not pay the minimum wage "will remain pretty rare", says skills minister Nick Boles on Radio 5 live. He says that most companies that fail to pay up, do so "by mistake". The government today announced tougher penalties on employers who do not pay the minimum wage. It has also formed a new team within HMRC to crack down on firms who do not meet the minimum wage.

  46. FTSE 100 falls sharply

    The FTSE 100 has started the week with a sharp fall. It is currently trading 1.8% lower. A fall for mining shares is weighing on the index. Miners have been depressed by a weak economic report on Chinese manufacturing earlier this morning (see earlier posts). BHP Billiton is down 2.5% and Rio Tinto is down 1%. Elsewhere:

  47. Second takeover approach for Aga Rangemaster

    Aga over

    Could a takeover battle be about to break out over the AGA Rangemaster Group? The company says it has received a takeover approach from US based Whirlpool Corporation. Aga has allowed Whirlpool access to its books and is conducting talks. However, AGA continues to recommend an offer from US kitchen equipment firm Middleby.

  48. Tokyo tumbles, Shanghai lower

    The Shanghai Composite Index closed down 1.23% after another volatile session that saw it trade almost 5% lower at one point. In Tokyo the Nikkei tumbled almost 4%, with traders blaming a report that showed weak Chinese manufacturing activity in August.

  49. FTSE opens lower

    The FTSE 100 has opened 0.8% lower after the long bank holiday weekend.

  50. Newspaper review - business pages

    Newspapers Monday

    "Don't touch China," an investment guru warns in the Times today. Hugh Young, an emerging markets guru, warns novice investors to stay away from China, as market turmoil could continue for weeks. Pfizer is resisting an attempt by investors and campaigners to make big drugs firms reveal the results of historical drug trials, reports the Guardian. The Prime Minister has abandoned an effort to have Britain excluded from EU employment laws, according to the front page of today's Financial Times. The Telegraph's business section reports that 200 people have been arrested in a campaign by Chinese authorities to clamp down on individuals who officials claim are spreading rumours and undermining the stock market.

  51. Rentokil buys US pest controller

    Rentokil Initial has spent years moving out of the pest control business in the UK, but it's making a big move into rodent bashing in the US. It has announced the purchase of US-based Steritech Group for $425m. Rentokill says the deal will strengthen its position as the third biggest pest control business in the US. "This is a rare opportunity to acquire a high-quality business with national scale in this key target growth market," said Andy Ransom, chief executive of Rentokil Initial.

  52. Booming UK van market

    BBC Scotland Business Editor Douglas Fraser tweets:

  53. Payments to get 'even more convenient'

    Radio 5 live

    From today, with a wave of your hand, you will be able to spend £30 with a contactless payment card, that's up from the old limit of £20. That limit is likely to go up again soon says Dave Birch, from payment security firm Consult Hyperion. He says that in Australia it is already much higher. But contactless is just "a stepping stone" to even more convenient systems. It is a "fraud resistant" way of spending, he reassures us.

  54. Tougher penalties for not paying minimum wage

    BBC Radio 4

    The government will announce today tougher penalties on employers who do not pay the minimum wage which, in the last Budget, was raised from £6.50 to £7.20 an hour for over 25-year-olds. Nick Bowles, the UK's employment minister told Today that HMRC has a new team to enforce penalties. Currently just one employer a year is prosecuted for not keeping to the rules, Mr Bowles expects that number to rise.

  55. Netflix moves away from movies

    Radio 5 live

    Netflix logo

    Thousands of movies will be removed from Netflix after the streaming service decided not to renew a deal with distributor Epix. Netflix will have a good idea of what customers want says Jake Kanter, news editor at TV industry magazine Broadcast as "they mine a lot of data from customers". Netflix thinks it can tailor its commissioning of new programmes to bring in new customers says Mr Kanter. It is now the second biggest content buyer in the world, second only to ESPN, he says on Radio 5 live.

  56. Iron ore slump 'damages' Australia

    BBC Radio 4

    Iron ore workers in the Pilbara mine

    The price of iron ore has tumbled by about 70% in the last two years, says the BBC's Ali Moore on the Today programme. She is visiting Pilbara, an Australian mining region, which is suffering from the slump in price after decades of a boom in demand driven by China. "This business is in a lot of pain and the damage to Australia is severe," says the manager of the mine Maryanne Kelly. Iron ore is Australia's biggest export earner.

  57. China moves to help housing market

    BBC Radio 4

    Chinese construction site

    China's government has reduced the minimum down payment on a second home from 30% to 20% in most cities, to help buffer the property market from any effects of stock market volatility, says Mike Amey, managing director at Pimco. "A lot of the wealth in China for the regular population is in the housing market. So if the housing market comes under pressure, that is more significant for the wealth effect in the domestic economy," he told Today.

  58. 'Mad' target on apprenticeships

    Radio 5 live

    The government has a target to create 3 million new apprenticeships by 2020. But it's "mad" to have such a high target says Professor Alison Wolf, who chaired a government funded review into vocational training in 2011. It would mean that almost every school leaver would have to go into an apprenticeship she says. Under the last government most of the apprenticeships created "were not worth having," she says on Wake Up to Money. Just focusing on a numerical target is the "wrong approach" says Marcus Mason, from the British Chambers of Commerce. He says quality should be the focus.

  59. Tesco: 'An awful six months'

    Radio 5 live

    "He had a truly awful six months," says retail analyst Phil Dorrell about Dave Lewis, who took over as chief executive of Tesco a year ago. Mr Dorrell lists the catastrophes that Mr Lewis had to cope with, among them: an accounting scandal, the resignation of the chairman, the closure of 43 stores and a £6.4bn loss. This year Mr Lewis will be able to blame the company's problems on the previous management team, but after that the financial markets will want results, says Mr Dorrell on Wake Up to Money.

  60. Chinese factory slowdown 'temporary'

    A measure of Chinese manufacturing activity fell to a three-year low in August. The official Purchasing Managers' Index was at 49.7 last month, which indicates a contraction in activity. However Julian Evans-Pritchard from Capital Economics thinks this slowdown could be temporary. He writes:

    Quote Message: We don’t think the lower reading is cause for alarm. For one, China’s economy is increasingly driven by service sector activity, which still appears healthy. As such, signs of weakness in manufacturing are less of a concern than they used to be. But in any case, we suspect the latest bout of weakness mostly reflects temporary disruptions to factory output due to restrictions on polluting activities ahead of this week’s Victory Day parade in Beijing rather than a deterioration in underlying economic momentum.
  61. Shares in China volatile again

    Radio 5 live

    Chinese steelworks

    It's been another rocky session for Chinese shares. At one stage the Shanghai Composite was down almost 5% but recovered to trade around 1% lower. "Maybe we are at the bottom, maybe we're not. Probably not frankly. But I think now that investors are more aware of it and that's in the price," said Mike Amey, managing director and portfolio manager at Pimco on Wake Up to Money.

  62. Post update

    Ben Morris

    Business Reporter

    Good morning and welcome back if you enjoyed a long weekend. There's been some weak data on the Chinese economy. Also it has been a year since Dave Lewis took over as chief executive of Tesco. How has he done? You can email bizlivepage@bbc.co.uk.