Summary

  • Apple sells 48 million iPhones in fourth quarter

  • Twitter shares tumble after third quarter results

  • US shares post modest losses

  • FTSE 100 closes 0.8% lower

  • Apple reports quarterly results after close of trading

  • UK economic growth falls to 0.5% in third quarter

  • TalkTalk maintains cancellation fees

  1. Morrisons staff to sue supermarketpublished at 13:27

    Morrisons staff memberImage source, Getty Images

    More than 2,000 Morrisons staff are to sue the supermarket for damages after the financial details of employees were posted online by a disgruntled auditor. Andrew Skelton was jailed for eight years in July after being found guilty of leaking personal data relating to almost 100,000 of the supermarket's staff, following a trial at Bradford Crown Court. 

    Lawyer Nick McAleenan, who is representing the Morrisons staff taking legal action, says the company failed to prevent the data leak, which exposed its employees to "the very real risk of identity theft and potential loss".

    He adds: "They are worried about the possibility of money being taken from their bank accounts and - in the case of younger clients - negative consequences for their credit rating."

  2. TalkTalk shares up almost 13%published at 13:13

    Our business editor tweets:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  3. Minions boost Comcast revenuepublished at 13:00

    Minions premiereImage source, Getty Images

    Hit films including Minions and Jurassic World have sent revenue at NBCUniversal up 21% to $7.15bn (£4.6bn). Revenue at its parent company, Comcast, rose 11% to $18.6bn for the third quarter, though profit slipped 22% to $2bn on higher tax charges.

  4. Net neutrality rules rejectedpublished at 12:51

    MEPs have voted against rules intended to safeguard "net neutrality" in the EU. A series of amendments to a regulation on how internet traffic is managed in Europe were all rejected. Proponents of net neutrality, who want web traffic be treated equally by networks, have criticised the move. 

  5. FTSE updatepublished at 12:38

    FTSE screen

    The FTSE 100 has lost ground for a second consecutive day ahead of the two-day Federal Reserve meeting starting today. Brenda Kelly, head analyst at London Capital Markets, says: "There does seem to be a certain amount of pause for breath ahead of the [Fed] meeting this week. I think markets are ... waiting for that confirmation that we'll have loose monetary policy for longer." 

    The index is down almost 28 points, or 0.4%, at 6,389, with mining companies among the biggest fallers. Anglo American is down 3.9%, while Shire is the biggest riser, adding 5.3%. 

  6. Tuesday's edition of Business Livepublished at 12:29

    Business presenter Ben Thompson tweets:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  7. 'Bad news priced into sterling'published at 12:18

    Sterling is down about 0.2% following today's GDP figures and markets are not pricing in an interest rate rise until the end of 2016 or even 2017. Bank of Tokyo-Mitsubishi currency economist Lee Hardman said: "The market has pushed the first rate hike way out into the future so I don't think today's GDP figures are going to have much impact in terms of that timing. The market is already pricing in a very dovish profile for Bank of England policy, so you could argue a lot of bad news is in [sterling's] price already." 

  8. Profits at Pfizer and Merck risepublished at 12:06

    Pfizer signImage source, Getty Images

    As well as Switzerland's Novartis, two big US pharmaceutical companies have numbers out today. Pfizer reported much better-than-expected profit for the third quarter of $2.1bn (£1.36bn), mainly helped by demand for its flu vaccine and breast cancer drug Ibrance. Revenue fell 2% to $12.1bn, but that was better than analysts' estimate of $11.56bn. 

    Merck also had better-than-expected quarterly profit as demand for its diabetes and cancer drugs increased. It doubled net profit to $1.83bn as sales of its diabetes drug, Januvia, rose 9.5% to $1.58bn - though total revenue fell 5% to $10bn. 

  9. US government avoids another shutdownpublished at 11:51

    The White HouseImage source, Getty Images

    The near annual shutdown of the US government has become a usual feature of the Obama administration around this time of year appears to have been averted with the announcement of a compromise deal.

    If passed by both houses of Congress, the two-year deal will increase spending by $80bn (£52.1bn). It will also be the last budget deal reached by President Obama, lasting until March 2017.

    The government needs to raise its borrowing limit by 3 November or risk default. The US Treasury Department had already postponed two bond sales as it waited for an agreement.

  10. Plug it inpublished at 11:39

    Speaking of cars, business correspondent (and car nut) Theo Leggett has been for a spin in a Tesla for a forthcoming programme about electric vehicles.

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  11. Trucks drive Ford profit surgepublished at 11:32

    Ford F-150Image source, Getty Images

    Strong sales of the new F-150 pickup truck in North America have driven profits at Ford sharply higher. The car maker posted a pretax profit of $2.7bn (£1.75bn) for the third quarter on sales $3.2bn higher at $38.1bn. 

    Despite record profits for North America, Ford posted a $340m loss for the other regions - although there was less red ink in Europe and South America.

    The company's global market share was 7.6%, up from 7.3% for the same period last year.

  12. Nestle makes more noodlespublished at 11:18

    Maggi noodlesImage source, Getty Images

    Nestle has started making Maggi noodles in India once more after a government ban was overturned, in a major step towards getting the popular brand back on shop shelves. India's food safety watchdog banned the noodles in June, saying lead levels exceeded safe limits. 

    However, the Bombay high court overturned the ruling two months later, calling it "arbitrary" and ordered fresh tests. Earlier this month Nestle said the laboratory tests had found that Maggi noodles were safe to eat. 

  13. Alibaba revenue jumps 32%published at 11:06

    Sales at Chinese e-commerce giant Alibaba rose by a better than expected 32% to $3.49bn in the third quarter despite slowing growth in the world's second-largest economy.

  14. TalkTalk sets the bar highpublished at 10:58

    Perhaps investors who like taking a bit of a punt are doing so on TalkTalk today:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  15. Construction 'has bottomed out'published at 10:50

    Simon French, chief economist at Panmure Gordon, tweets:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  16. Economy still reliant on financial servicespublished at 10:43

    UK economy sub sectors graphImage source, ONS

    The ONS says UK GDP is now 6.4% higher than before the 2008 financial crisis kicked in and plunged the country into recession. But rather depressingly - as you can see from the above graph -  three out of the four main industry sectors still haven't got back to the levels of growth there were experiencing seven, yes, seven years ago!  The UK is still hugely reliant on its services sector. And the biggest sub-sector within that industry? Still financial services (as you can see from the graph below).

    UK services sub sector graphImage source, ONS
  17. GDP numberspublished at 10:25 Greenwich Mean Time 27 October 2015

    Newsnight's economics correspondent tweets:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  18. Pound falls on GDP figurespublished at 10:10

    Sterling v dollar graph

    The reaction of sterling shows that markets have not taken the GDP figures too well. The pound is now 0.16% lower against the US dollar at $1.532. It's also 0.1% lower against the euro at €1.387. Not huge falls, but it's clear the third quarter GDP figures have caused some disappointment. Also worth noting that sterling is lower against all but a few currencies. The fall suggests that markets think an interest rate rise before next June or July is less likely.

  19. The service economypublished at 09:59

    Our economics editor tweets:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  20. Service sector saves the daypublished at 09:56

    ONS chartImage source, ONS

    Once again it was left to the dominant service sector  - it accounts for 78.6% of the economy - to shelter the UK from a bigger slowdown in growth. Services expanded by 0.7% in the third quarter, following growth of 0.6% in the previous three months.