Summary

  • Outgoing VW boss Winterkorn says "fresh start" needed

  • Diageo warns on £150m currency hit

  • 'Happy Birthday' ruled out of copyright

  • US drug company to cut 5,000% price rise after backlash

  • George Osborne sets UK-China trade target

Live Reporting

Ian Pollock

  1. Volkswagen scandal: no more diesel?

    BBC Radio 5 Live

    "We've seen scandals in the car industry" such as GM and Toyota with its ignition and acceleration problems, but nothing on this scale, says Jim Holder, editorial director of Haymarket Automotive, whose titles include WhatCar and AutoCar. "There seems to be a new revelation or potential new revelation coming out very quickly," he says. It could make diesel engines for cars uneconomical. 

  2. UK vehicle testing should be investigated

    BBC Radio 5 Live

    The chair of the Transport Select Committee, Louise Ellman, has told 5 live’s Wake Up to Money show that the independence of vehicle testing in the UK should be investigated, as there are “major questions” following the revelation that Volkswagen software fooled emission tests in America.

  3. China data

    BBC Radio 5 Live

    chinaAFP

    Activity in China's factory sector unexpectedly shrank to a six year low in September, according to a survey. Eimear Daly, a currency strategist at Standard Chartered, says China manufacturing data is perhaps less to worry about than the market thinks. China is much more focused on services than before, so dipping manufacturing numbers are of less concern.

  4. Howard Mustoe
    business reporter

    Good morning all. Welcome to business live. VW's supervisory board meets to discuss the car emissions cheating scandal, so watch out for more news on that today. Get in touch via bizlivepage@bbc.co.uk