That's it for another week from the Business Live page. Join us again from 06:00 for more business news and views.
US markets close lower
US stocks closed down on Friday after figures indicated the US economy added fewer jobs than expected last month. The Dow Jones Industrial Average was down 28 points at 18,240. The tech-heavy Nasdaq fell 14 points to 5,292, while the S&P 500 dipped 7 points to 2,153.
A credit card with a digital display that randomly generates a security code is being launched as a way of combating fraud.
Oberthur Technologies is currently in discussions with UK banks about rolling out the technology and will have cards "in the hands" of consumers in France by the end of the year.
Credit card fraud costs banks millions of pounds each year.
One expert said a different design for credit cards was overdue.
UBS chief: European banks 'in much better shape' now
Getty ImagesCopyright: Getty Images
The European banking system is in "much better shape" than it was several years ago, UBS chief executive Sergio Ermotti said.
"The last two weeks are a testament to that," Mr Ermotti said at the 2016 Institute of International Finance Annual Membership Meeting in Washington. "The same kind of dynamics seven or eight years ago would have created a major fallout."
Pound update
The pound is settled (sort of) around new low levels after the shock 6% fall of the small hours. It is trading at 1.2433, a loss of 1.46%, and against the euro it's at €1.1117, a loss of 1.8%. Not exactly bursting with health.
Obama announces lifting of US sanctions on Myanmar
President Barack Obama has said he is lifting sanctions on Myanmar by terminating an emergency order that deemed the policies of the former military government a threat to US national security.
"I have determined that the situation that gave rise to the national emergency ... has been significantly altered by Burma's [Myanmar's] substantial advances to promote democracy, including historic elections in November 2015," Mr Obama said in a letter to congressional leaders announcing the decision.
Boeing receives order for 40 planes form Qatar
AFPCopyright: AFP
US aircraft maker Boeing has announced a major deal to supply Qatar Airways with wide body jetliners.
The deal includes 30 787-9 Dreamliners and 10 777-300ERs, valued at $11.7bn (£9.4bn) at list prices, along with the option to buy 60 737 MAX 8s, valued at $6.9bn at list prices.
It is the largest single order ever placed by the Gulf carrier.
The deal gives Boeing a boost in a year when orders for widebody planes have slumped.
It shows something of the febrile nature of the Brexit debate that this story seems feasible...
According to claims by Buzzfeed and the Guardian, the government has taken the highly unusual move of not allowing foreign academics to advise on Brexit, because, well, they are foreign.
This tweet from LSE assistant professor Sara Hagemann appears to confirm it:
"The FCO regularly works with academic institutions to assist in its policy research and nothing has changed as a result of the referendum. It has always been the case that anyone working in the FCO may require security clearance depending on the nature and duration of their work.
"Britain is an outward-looking nation and we will continue to take advice from the best and brightest minds, regardless of nationality."
Fat finger? Algo theory?
BBC business presenter Victoria Fritz gives her view on what caused the pound's flash crash overnight:
It said it expects to take a £90m hit to its pre-tax profits from foreign exchange movements, mainly due to the the weak pound adversely affecting the cost of fuel.
Buried in the small print, it said it assumes this based on a US dollar exchange rate of 1.2716. But, and here's a big but, for every one cent movement down, pre-tax profits will fall £3m. The same will apply the other way.
Deutsche Bank's largest investors 'have no plans to sell'
Getty ImagesCopyright: Getty Images
Qatari investors who own the largest stake in Deutsche Bank do not plan to sell their shares and could consider buying more if the embattled German bank decides to raise capital, the Reuters news agency reports.
The investors own just below 10% of the bank, meaning on paper, they've lost over $1.2bn on their investments in the bank since the end of last year, Reuters said.
'There's bound to be uncertainty'
More from Chancellor Philip Hammond on Brexit uncertainty:
"The decision to leave the European Union means that there will be a period of a couple years of when people know we’re leaving, but they don't know precisely what the terms of that departure will be and what will follow it in future.
"So there's bound to be uncertainty. But the important thing is to look through the movements of currency markets, the short term movements of sentiment, at the fundamentals of the British economy. The fastest growing economy in the G7 this year, record high employment rates, and very high levels of growth in the first two quarters.
"We go into this period of turbulence fundamentally strong, and that should be a great reassurance to us."
In short... Don't panic.
Hammond: There will be no 'spending splurge'
Kamal Ahmed
Economics editor
ReutersCopyright: Reuters
After a day of volatility for the pound not matched since the night of the referendum, the Chancellor said that any fresh support for the economy via public spending would be cautious.
Speaking to me at the International Monetary Fund autumn meeting in Washington, Phillip Hammond said that although sterling's rapid fall was partly "technical", markets would have to get used to volatility while Britain negotiated its departure from the European Union.
Market turbulence 'to be expected', says Chancellor
Getty ImagesCopyright: Getty Images
Soothing words from the Chancellor, to pour oil on troubled waters.
The sterling "flash crash" and market turbulence are to be expected, Chancellor Philip Hammond tells BBC economics editor Kamal Ahmed.
"Some of what happened over night was driven by technical factors, as the Bank of England governor has explained this morning. Markets will go up and down – markets respond to noises off. As I said earlier this week, we are going to go through a period of volatility now, there will be lots of commentary going on and we can expect to see markets being more turbulent over this period and we should prepare for that. The government should take the necessary measures to be able to respond to it, to keep the economy going during this period."
US jobs 'Goldilocks figures'
Some analysts are still predicting that US interest rates will rise in December. US jobs gains were in "Goldilocks figures" says Scott Anderson of Bank of the West Economics: "not too hot and not too cold".
As a consequence the firm is maintaining its forecast for a December rate hike.
"The number was weak enough and labour force gains strong enough to take some of the air out of the hawks fears that the Federal Open Market Committee (FOMC) is behind the curve in raising rates. At the same time, it keeps the FOMC on track for another December rate move," he says.
Wall Street slips after US jobs report
Wall Street is lower after a weaker-than-expected September jobs report indicated that the US Federal Reserve could be cautious about raising interest rates.
US employment growth slowed for the third month in a row in September, with employers adding 156,000 jobs. Some economists had expected a figure closer to 175,000.
The Dow Jones industrial average was down 42.80 points, or 0.23 percent, at 18,225.70. The S&P 500 was down 5.06 points, or 0.23%, at 2,155.53. The Nasdaq Composite was down 11.86 points, or 0.21%, at 5,295.77.
Lloyds share sale: 'Standing up for ordinary people'?
Getty ImagesCopyright: Getty Images
The government has recently made much of standing up for "ordinary working people", for example, Theresa May's pledges to help consumers, fix "dysfunctional" markets, and her talking about the "bad side effects" of quantitative easing.
But is that all it's cracked up to be? Tom McPhail of Hargreaves Lansdown says the government decision not to sell Lloyds shares to the general public doesn't sit easily with its new stance.
“Whilst it is good news that the government is returning its remaining share of Lloyds Bank to private ownership, retail investors will be disappointed at being denied the opportunity to pick up stake directly from the government at a discount.
"This would have been an opportunity to not only raise money for the Treasury but also to democratise retail investing.
"Share offers of this nature are an excellent mechanism for developing consumer interest in long term investments, so this decision to place shares via an institution hardly seems in keeping with the new government’s mantra of standing up for ordinary people."
How low could the pound go?
Dearbail Jordan
Business reporter
BBCCopyright: BBC
Analysts were largely in agreement today that the plunge in the value of the pound is not an overnight phenomenon and is only going to get worse.
Putting Friday's morning's "flash crash" aside, the pound has still fallen about 18% against the dollar to below $1.24 since Britain voted to leave the European Union on 23 June.
So where do they think the pound could end up?
HSBC: $1.10 by the end of 2017
UBS: $1.20 by end of next year
Bank of New York Mellon: $1.10 by August 2017
Caxton: $1.15 by the end of 2017
'A lot of explaining'
Rupert Harrison, who was chief of staff to George Osborne, was often known as the "real chancellor" in government circles given his role in formulating policy.
Live Reporting
Tom Espiner
All times stated are UK
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Latest PostGood night - and happy weekend
That's it for another week from the Business Live page. Join us again from 06:00 for more business news and views.
US markets close lower
US stocks closed down on Friday after figures indicated the US economy added fewer jobs than expected last month. The Dow Jones Industrial Average was down 28 points at 18,240. The tech-heavy Nasdaq fell 14 points to 5,292, while the S&P 500 dipped 7 points to 2,153.
Credit card with fraud-busting display
A credit card with a digital display that randomly generates a security code is being launched as a way of combating fraud.
Oberthur Technologies is currently in discussions with UK banks about rolling out the technology and will have cards "in the hands" of consumers in France by the end of the year.
Credit card fraud costs banks millions of pounds each year.
One expert said a different design for credit cards was overdue.
Read more here.
UBS chief: European banks 'in much better shape' now
The European banking system is in "much better shape" than it was several years ago, UBS chief executive Sergio Ermotti said.
"The last two weeks are a testament to that," Mr Ermotti said at the 2016 Institute of International Finance Annual Membership Meeting in Washington. "The same kind of dynamics seven or eight years ago would have created a major fallout."
Pound update
The pound is settled (sort of) around new low levels after the shock 6% fall of the small hours. It is trading at 1.2433, a loss of 1.46%, and against the euro it's at €1.1117, a loss of 1.8%. Not exactly bursting with health.
Obama announces lifting of US sanctions on Myanmar
President Barack Obama has said he is lifting sanctions on Myanmar by terminating an emergency order that deemed the policies of the former military government a threat to US national security.
"I have determined that the situation that gave rise to the national emergency ... has been significantly altered by Burma's [Myanmar's] substantial advances to promote democracy, including historic elections in November 2015," Mr Obama said in a letter to congressional leaders announcing the decision.
Boeing receives order for 40 planes form Qatar
US aircraft maker Boeing has announced a major deal to supply Qatar Airways with wide body jetliners.
The deal includes 30 787-9 Dreamliners and 10 777-300ERs, valued at $11.7bn (£9.4bn) at list prices, along with the option to buy 60 737 MAX 8s, valued at $6.9bn at list prices.
It is the largest single order ever placed by the Gulf carrier.
The deal gives Boeing a boost in a year when orders for widebody planes have slumped.
Read more here.
Storm over 'foreign academics Brexit advice ban'
It shows something of the febrile nature of the Brexit debate that this story seems feasible...
According to claims by Buzzfeed and the Guardian, the government has taken the highly unusual move of not allowing foreign academics to advise on Brexit, because, well, they are foreign.
This tweet from LSE assistant professor Sara Hagemann appears to confirm it:
Fellow academics understandably responded with incredulity.
Steve Peers, a professor of EU law at the University of Essex, tweeted:
A Foreign Office spokesperson said:
"The FCO regularly works with academic institutions to assist in its policy research and nothing has changed as a result of the referendum. It has always been the case that anyone working in the FCO may require security clearance depending on the nature and duration of their work.
"Britain is an outward-looking nation and we will continue to take advice from the best and brightest minds, regardless of nationality."
Fat finger? Algo theory?
BBC business presenter Victoria Fritz gives her view on what caused the pound's flash crash overnight:
The big questions
Easyjet warns of £90m sterling hit
We didn't spot this yesterday, but here's quite an interesting nugget from Easyjet's latest trading update.
It said it expects to take a £90m hit to its pre-tax profits from foreign exchange movements, mainly due to the the weak pound adversely affecting the cost of fuel.
Buried in the small print, it said it assumes this based on a US dollar exchange rate of 1.2716. But, and here's a big but, for every one cent movement down, pre-tax profits will fall £3m. The same will apply the other way.
Deutsche Bank's largest investors 'have no plans to sell'
Qatari investors who own the largest stake in Deutsche Bank do not plan to sell their shares and could consider buying more if the embattled German bank decides to raise capital, the Reuters news agency reports.
The investors own just below 10% of the bank, meaning on paper, they've lost over $1.2bn on their investments in the bank since the end of last year, Reuters said.
'There's bound to be uncertainty'
More from Chancellor Philip Hammond on Brexit uncertainty:
"The decision to leave the European Union means that there will be a period of a couple years of when people know we’re leaving, but they don't know precisely what the terms of that departure will be and what will follow it in future.
"So there's bound to be uncertainty. But the important thing is to look through the movements of currency markets, the short term movements of sentiment, at the fundamentals of the British economy. The fastest growing economy in the G7 this year, record high employment rates, and very high levels of growth in the first two quarters.
"We go into this period of turbulence fundamentally strong, and that should be a great reassurance to us."
In short... Don't panic.
Hammond: There will be no 'spending splurge'
Kamal Ahmed
Economics editor
After a day of volatility for the pound not matched since the night of the referendum, the Chancellor said that any fresh support for the economy via public spending would be cautious.
Speaking to me at the International Monetary Fund autumn meeting in Washington, Phillip Hammond said that although sterling's rapid fall was partly "technical", markets would have to get used to volatility while Britain negotiated its departure from the European Union.
Read more here.
Market turbulence 'to be expected', says Chancellor
Soothing words from the Chancellor, to pour oil on troubled waters.
The sterling "flash crash" and market turbulence are to be expected, Chancellor Philip Hammond tells BBC economics editor Kamal Ahmed.
"Some of what happened over night was driven by technical factors, as the Bank of England governor has explained this morning. Markets will go up and down – markets respond to noises off. As I said earlier this week, we are going to go through a period of volatility now, there will be lots of commentary going on and we can expect to see markets being more turbulent over this period and we should prepare for that. The government should take the necessary measures to be able to respond to it, to keep the economy going during this period."
US jobs 'Goldilocks figures'
Some analysts are still predicting that US interest rates will rise in December. US jobs gains were in "Goldilocks figures" says Scott Anderson of Bank of the West Economics: "not too hot and not too cold".
As a consequence the firm is maintaining its forecast for a December rate hike.
"The number was weak enough and labour force gains strong enough to take some of the air out of the hawks fears that the Federal Open Market Committee (FOMC) is behind the curve in raising rates. At the same time, it keeps the FOMC on track for another December rate move," he says.
Wall Street slips after US jobs report
Wall Street is lower after a weaker-than-expected September jobs report indicated that the US Federal Reserve could be cautious about raising interest rates.
US employment growth slowed for the third month in a row in September, with employers adding 156,000 jobs. Some economists had expected a figure closer to 175,000.
The Dow Jones industrial average was down 42.80 points, or 0.23 percent, at 18,225.70. The S&P 500 was down 5.06 points, or 0.23%, at 2,155.53. The Nasdaq Composite was down 11.86 points, or 0.21%, at 5,295.77.
Lloyds share sale: 'Standing up for ordinary people'?
The government has recently made much of standing up for "ordinary working people", for example, Theresa May's pledges to help consumers, fix "dysfunctional" markets, and her talking about the "bad side effects" of quantitative easing.
But is that all it's cracked up to be? Tom McPhail of Hargreaves Lansdown says the government decision not to sell Lloyds shares to the general public doesn't sit easily with its new stance.
“Whilst it is good news that the government is returning its remaining share of Lloyds Bank to private ownership, retail investors will be disappointed at being denied the opportunity to pick up stake directly from the government at a discount.
"This would have been an opportunity to not only raise money for the Treasury but also to democratise retail investing.
"Share offers of this nature are an excellent mechanism for developing consumer interest in long term investments, so this decision to place shares via an institution hardly seems in keeping with the new government’s mantra of standing up for ordinary people."
How low could the pound go?
Dearbail Jordan
Business reporter
Analysts were largely in agreement today that the plunge in the value of the pound is not an overnight phenomenon and is only going to get worse.
Putting Friday's morning's "flash crash" aside, the pound has still fallen about 18% against the dollar to below $1.24 since Britain voted to leave the European Union on 23 June.
So where do they think the pound could end up?
HSBC: $1.10 by the end of 2017
UBS: $1.20 by end of next year
Bank of New York Mellon: $1.10 by August 2017
Caxton: $1.15 by the end of 2017
'A lot of explaining'
Rupert Harrison, who was chief of staff to George Osborne, was often known as the "real chancellor" in government circles given his role in formulating policy.
He's tweeted: