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Live Reporting

Ben Morris

All times stated are UK

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  1. Goodnight from London

    That's it from the Business Live page today. We're back tomorrow from 06:00.

  2. Twitter shares down sharply in after hours trading

    Twitter shares have fallen sharply in after hours trading following the release of its latest quarterly results.

    Total revenue for its second quarter was $602m up 20% compared to last year.

    Under its EBITDA measure of profits, it made $175m, up 45%.

    It recorded 313 million average monthly active users, up 3% compared to last year.

    In those results it forecast revenue of between $590m and $610m and profits of between $135m and $150m for the current quarter.

  3. US shares little changed

    The Dow Jones Industrial Average closed lower, but above its lows for the session. It closed 19 points lower at 18,473.

    The S&P 500 closed barely changed at 2,169.

    And the Nasdaq finished 12 points lower at 5,110.

    Investors had reason to be cautious before a decision from the US Federal Reserve on Wednesday and Apple results which are due out shortly.

    Apple shares finished 0.7% lower.

  4. Charities included in bank charge plans

    Nat West

    NatWest and RBS have warned they may have to charge businesses to accept deposits due to low interest rates.

    Those plans also include charities and community groups, which are counted by the banks as business clients.

    An extract of a letter from NatWest to a local community group, seen by the BBC, states: 

    “Charging you interest on credit balances - global interest rates remain at very low levels and in some markets are currently negative. Dependent on future market conditions, this could result in us charging interest on credit balances. We’ll provide you with appropriate notice before doing so, should this situation ever arise.”    

  5. Chip deal confirmed

    Analog Devices has confirmed that it is combining with rival chip maker Linear Technology.

    Not much detail so far, but the company is holding a a presentation at 17:00 EST/22:00 BST.

  6. Air France strike tomorrow

    Air France

    Air France has given more detail about a week-long strike by some of its flight crew, which begins tomorrow.

    Air France expects long-haul and domestic flights will operate without much disruption. It estimates that 80% of medium-haul flights from Paris Charles de Gaulle will be unaffected.

    "However, there may be last-minute cancellations and delays. Difficulties with crew compositions may also limit the number of passengers per flight," it said in a statement.

    Passengers can postpone their flight at no extra cost.

    See here for more details.

  7. Deal in the computer chip business?

    There's talk of a deal in the computer chip - or semiconductor - business.

    Chip maker Analog Devices is in advanced talks to buy Linear Technology, according to Bloomberg.

    Linear has a market value of around $12bn.

  8. Dominic Chappell plans to speak out on Wednesday

    Dominic Chappell

    Dominic Chappell, who bought BHS from Sir Philip Green, plans to make a statement tomorrow, according to the Daily Telegraph.

    He will be reacting to Monday's scathing report by MPs into the collapse of BHS.

    It branded Mr Chappell as "out of his depth" and "over-optimistic to the point of arrogance", while also taking out "lavish" rewards from the company.

    Mr Chappell also confirmed to the Telegraph that he had received a legal complaint from Sir Philip.

  9. How Apple shares hit the index

    Moves in the Apple share price have a big impact on the S&P 500 index. But how much?

    Howard Silverblatt is the senior index analyst at Dow Jones Indices, he explains.

    View more on twitter
  10. US market update

    Trader

    The Dow Jones is still trading lower, down 0.3% to 18,429. McDonald's is the biggest loser. Its shares falling, as mentioned earlier, after disappointing results. Menu price increases appear to have led more consumers to eat at home.

    The best performing stock on the Dow Jones is Caterpillar. The construction company's shares are up about 4% after its earnings beat expectations.

  11. Women in the movie business

    BBC World Service

    American movie maker Michael Moore says there are too few women directors. In his Traverse City Film Festival, opening today in Northern Michigan, he's featuring 32 films which are all directed by women. One of them is called Adult Life Skills. It's a dark comedy about a woman named Anna whose twin has died. The film's director Rachel Tunnard spoke to Rob Young on Business Matters. He asked her if she put much of herself into the film.  

    Video content

    Video caption: Rachel Tunnard, director of Adult Life Skills, speaks to Business Matters.
  12. VW clears hurdle for diesel settlement

    A judge has given preliminary approval to Volkswagen's $15bn settlement with the US government over the diesel emissions scandal.

    A final decision is expected in October.

    "There's been an enormous effort to achieve a series of goals," said San Francisco district judge Charles Breyer. "I think these goals have been achieved," he said.

  13. We'll call you

    Dr Liam Fox

    Liam Fox, the new International Trade Secretary, is in Washington meeting with his US counterpart about trade following the Brexit vote.

    Dr Fox stressed "importance of close cooperation", according to a briefing from the US Trade Department.

    He was told, however, that it's "premature" to enter formal trade talks, and that they need to wait until "basic issues around the future EU-UK relationship" are worked out.

  14. Saudi-backed bid for Grosvenor House Hotel - FT

    Grosvenor House Hotel

    A consortium backed by a Saudi Arabian family has launched a $1.3bn bid for a group of hotels, which includes London's Grosvenor House Hotel and New York's Plaza, reports the Financial Times.

    The story has an interesting twist. The hotels are controlled by Indian businessman Subrata Roy, who has spent almost two years in jail over an illegal bond deal.

    The FT says most of the cash is coming from a Saudi family that runs a private wealth fund in Dubai.

    The Grosvenor is operated by Marriott International.

  15. Apple results - what to watch

    An Apple store opens in China

    This from Connor Campbell, financial analyst at SpreadEx.

    "Arguably the day’s main event is still to come: Apple’s third quarter report. Back April the company revealed its first year-on-year quarterly decline in revenue thanks to a 16% plunge in iPhone sales to 51.19 million across Q2.

    "Things are unlikely to have improved this time around, with analysts expecting a 15% decline in revenue to $42.01 billion, smack bang in the middle of the company’s $41 billion to $43 billion guidance, as its iPhone problems persist.

    Confirmation of reports that the iPhone 7 is set to be released in September might help obscure any issues with its headline figures, though a new, barely changed, smartphone isn’t exactly what Apple needs right now."

    The results usually come around 21:30 BST/16:30 EST.

  16. Porsche hiring for electric car project

    Porsche Mission E

    Porsche plans to create 1,400 jobs to develop, build and market Mission E, Reuters - a battery powered sports car designed to compete with Tesla's Model S.

    Porsche is spending around a billion euros on the project and the plan is to roll out the car in 2019.

    Despite being considered a desirable employer, Porsche said it is struggling to attract the kind of boffins needed to work on such a project.

    "I'm not denying that the battle for talent is tough," human resources chief Andreas Haffner told Reuters.

  17. Modest gain for FTSE 100; Tesco slides

    A mid-afternoon rally for shares on the FTSE 100 dwindled and the index ended almost 14 points higher at 6,724.7.

    Tesco was the biggest loser, falling almost 4%, after a report showed falling sales and market share in the UK.

    Easyjet fell 3%, after Goldman Sachs cut its price target for the airline's shares.

    The broader FTSE 250 fell almost 22 points to 17,069, with investment firm, Man Group the biggest loser with a 7% slump.

    Man Group reported profits for the six months to 30 June of $55m, down from $163m in the same period last year.

  18. Nigeria in surprise interest rate rise

    Nigeria currency

    Nigeria's central bank has raised its interest rate to 14% - its highest ever level - from 12%.

    It's not a move that analysts had expected - although it is battling inflation at 16.5%

    The bank also said it was unlikely that the country had seen an economic rebound in the three months to June.