Summary

  • Facebook over $100 per share for first time

  • Microsoft and Amazon shares surge on strong profits

  • TalkTalk executive: all 4 million customers could be affected after cyberattack

  • China cuts interest rates by 0.25%

  • Maersk profit warning over shipping market slowdown

  1. Talk Talk hack 'of concern' to security servicespublished at 07:47

    Today Programme
    BBC Radio 4

    There's plenty of speculation about who could have been behind the Talk Talk hack, including suggestions that terrorist-related groups have claimed responsibility. 

    Adrian Culley, former detective at the Metropolitan Police's cyber-crime unit, says the UK intelligence services will get involved in the investigation into what happened.

    "By its very nature, Talk Talk is an information provider and part of the UK critical national infrastructure. So this [hack] will be a concern not just for the police but also the security service," Mr Culley says.

  2. Shipping giant Maersk warns over profitspublished at 07:37

    Maersk container shipImage source, Getty Images

    The giant shipping company Maersk has lowered its profit forecast for the year.

    In a statement the company said:

    Quote Message

    The container shipping market deteriorated beyond the group's expectations especially in the latter part of third quarter and October"

  3. Talk Talk issues statement over hackingpublished at 07:28

    Talk Talk has released a statement to the Stock Exchange about the hacking of the phone and broadband company. It doesn't add much to what we already know - but here it is, external.

  4. TalkTalk boss: 'Can't say which customers affected'published at 07:16

    BBC Radio 5 Live

    The chief executive of TalkTalk, Dido Harding is on Radio 5 live.

    The company "still can't be certain" which customers and what data has been affected by the hack she says.

    But it's likely to be "a significant number" of its 4 million UK customers.

    She can't categorically say that previous customers are not affected.

    Ms Harding encourages customers to keep an eye on credit card transactions.

  5. UK government raises 'terrorism insurance premium'published at 07:09

    Today Programme
    BBC Radio 4

    Insurance is all about protecting yourself against events you hope won't happen. And its the same for major terrorist events. Insurers have been contributing to a fund for 20 years to pay out for damage done when terrorists strike.

    The money is managed by Pool Re, whose boss Julian Enoizi tells Today that the fund is now worth $5.5bn. Some of this money goes to the government, in return for a guarantee against a catastrophic event. 

    "We're here for that black swan event, the event you hope will never happen," he says. "The assets we insure are in excess of £2 trillion and that amount of exposure can only be insured ultimately by the government."

    Last year, the premium paid to the government went up from 10% to 50%. "The government determined that the risk they were running justified more than 10%," he says.

  6. TalkTalk hack: Twitter reactionpublished at 07:07

    TalkTalk is being pummelled on Twitter this morning following the data breach.

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  7. US headquarters for HSBC?published at 06:52

    FT Friday

    HSBC feels the attitude of the Treasury and regulators is still hostile reports the Financial Times on the front page this morning.

    So the company is still considering moving its headquarters from the UK, with the US as a possible alternative to Hong Kong, reports the FT.

    ReutersBreakingViews made this comment about the possibility of a move to the US.

    Quote Message

    That would be an odd move, given HSBC’s chequered past there and more viable Asian alternatives. As the backdrop improves in Britain, the likeliest outcome is no change at all."

  8. London property bubble overpublished at 06:44

    Today Programme
    BBC Radio 4

    London housesImage source, Thinkstock

    Deutsche Bank has called the end of the London property bubble. Sahil Mahtani, author of a Deutsche report on the property sector, tells Today that he sees "little upside for prices".

    Interest rates will go up and moves are underway to build more homes to ease the shortage. Other factors, such as the influx of overseas buyers, are already factored into the high market prices.

    London property was seen as a haven for foreigners taking money from ailing economies and conflict zones. "I would argue that this is all reflected in the prices," he says.

  9. TalkTalk hack: Customers advised to change passwordspublished at 06:25

    BBC Radio 5 Live

    TalkTalk says the personal details of more than four million customers could have been accessed during a cyber attack.

    The BBC's Keith Doyle who is outside the company's headquarters in London, says customers are being advised to change the password on their TalkTalk account and if that password is used on other accounts, to change it there too.

    Customers should also watch out for scam phone calls and emails, Keith says.

    TalkTalk first started to notice problems with their systems on Wednesday afternoon.

    Dido Harding, the chief executive of TalkTalk is on Radio 5 live after 07:00.

    There's some customer, external advice on the TalkTalk website.

  10. Cyber crime is the 'crime of our generation'published at 06:24

    There's a startling figure from Talk Talk chief executive Dido Harding, talking to the BBC about the hacking of the phone and broadband company. "Unfortunately, cyber crime is the crime of our generation. There were 625,000 cyber offences each month this summer."

    The company still hasn't got to the bottom of exactly what happened, but is offering free credit monitoring for affected customers for a year, in case the stolen data results in people losing out.

  11. Twitter boss gifts staff his sharespublished at 06:05 British Summer Time 23 October 2015

    Twitter chief executive, Jack Dorsey is giving a big chunk of his holding in the company to staff.

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    Here's how one Twitter staff member reacted:

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  12. Boost for graphene research in Manchesterpublished at 06:04

    BBC Radio 5 Live

    Graphene representation

    We're expecting Chinese electronics giant Huawei to announce millions of pounds of investment in the University of Manchester's National Graphene Institute.

    It will coincide with the visit of Chinese President Xi Jinping to the north of the UK today.

    Graphene was only discovered in 2004 and is prized for its strength and the way it can handle heat.

    Now there are more than 600 companies that will sell you graphene, says James Baker, business director at the National Graphene Institute.

    A graphene light bulb will be on the market in the next few months.

    Manchester University has 50 industrial partners looking at the properties of graphene.

    Huawei is interested in the thermal properties of graphene. Adding a small amount to wiring could help cool devices like phones and computers and make them more efficient, Mr Baker tells Wake Up To Money.

  13. Strong results from Amazon and Googlepublished at 06:02

    BBC Radio 5 Live

    Amazon reported a surprise profit for the second quarter in a row, we learned late on Thursday.

    It's been "very successful" at boosting sales in the US and the Amazon Web Services business has done very well, explains Andrew Millroy a technology analyst from Frost and Sullivan on Wake Up To Money.

    Alphabet the new parent company of Google, has reported profits up almost 50% for the third quarter.

    Mr Millroy says that rise was partly due to revenue from mobile searching and money generated from advertising on YouTube, 

    Investors are now focused on expenses management at Google, he says.

  14. Postpublished at 06:01

    Good morning and welcome to Friday's Business Live page. We'll have more on the data breach at Talk Talk. Shares in Asia are having a strong morning, following a strong close for US stocks. After that close Microsoft, Alphabet (Google) and Amazon reported strong results.