Summary

  • VW settlement with US over diesel scandal clears hurdle

  • Openreach to stay part of BT, sending shares higher

  • Tesco and Sainsbury's shares fall, as sales drop

  • ABInBev raises SABMiller offer by £1 to £45

  • NatWest and RBS may charge business customers to hold cash

  • Sir Philip Green demands apology from Frank Field MP

  1. Pre-Brexit jitters?published at 15:57 British Summer Time 26 July 2016

    Power station workerImage source, Getty Images

    All eyes tomorrow morning will be on figures measuring the health of the UK economy in the three months to the end of June.

    On average analysts are predicting economic growth will have slowed to 0.3% compared with the previous quarter.

    Laith Khalaf, an analyst at stockbroker Hargreaves Lansdown, says the data will tell us if the referendum gave the UK economy the "jitters in the lead up to the vote" on 23 June. 

    They will also indicate if we are going into Brexit from "a position of strength, or as seems more likely, a position of weakness", he says. 

  2. McDonald's shares lowerpublished at 15:46 British Summer Time 26 July 2016

    McDonald's Drive-ThruImage source, AP

    Shares in Maccy D's have fallen nearly 4% on Wall Street after reporting disappointing earnings.

    The company reported lower than expected sales growth at its established US restaurants, despite the popularity of its All Day Breakfast.

    The fast-food chain added that it faced "a challenging environment in several key markets."

  3. Lufthansa listing seats on Airbnbpublished at 15:37 British Summer Time 26 July 2016

    Lufthansa planeImage source, Getty Images

    The German airline Lufthansa is listing seats on Airbnb, reports the online journal Quartz, external, as part of a plan to fill its planes.

    The ad on the accommodation-booking site explains: “Our cabin isn’t in the woods, but in the sky!”.

    "The airline says its accommodations include heating and air conditioning and a 'couch' (it’s really a seat), but the carrier makes a note that it offers no washer, indoor fireplace, doorman, iron or other amenities," Quartz reports.  

  4. Chinese income slowdownpublished at 15:16 British Summer Time 26 July 2016

    RBS economist Marcus Wright tweets about a further sign of the slowdown in the Chinese economy...

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  5. Apple earnings duepublished at 15:04 British Summer Time 26 July 2016

    Iphone casesImage source, Getty Images

    Investors are getting ready for Apple results out after the bell.

    Growth in iPhone sales will be closely monitored. They account for two-thirds of the company's overall sales and in its last report card they fell for the first time in 13 years.

  6. Shelling out for snail gelpublished at 14:48 British Summer Time 26 July 2016

    Snail on a leafImage source, AFP/Getty Images

    In case you're wondering, snail gel is very good for soothing and smoothing skin.

    Holland and Barrett - which has tied up with Tesco - says the snail gel it sells is "harvested from free-roaming snails".

    The molluscs crawl over glass and their "mucus secretion" is then collected "humanely and under certified organic conditions".

    A tube of 50ml organic snail gel will set you back £20.99.

  7. Snail gel anyone?published at 14:39 British Summer Time 26 July 2016

    Holland & Barrett storesImage source, PA

    Tesco shoppers can now add snail gel and detox teas to their weekly shop.

    The supermarket giant is partnering with retailer Holland & Barrett to offer a health and wellbeing "store in store".

    Supermarkets are seeking to add third-party retailers to their larger stores after finding shoppers are keen to bolster their grocery shopping with other well-known brands.

    Last year Tesco signed a deal to add Sir Philip Green's clothing chains Dorothy Perkins, Burtons and Evans to some stores, while Sainsbury's is acquiring Argos.

  8. Wall Street opens little changedpublished at 14:36 British Summer Time 26 July 2016

    Shares are pretty directionless in the first few minutes of trade in the US.

    The Dow Jones has dipped 16 points to 18,476.79

    The Nasdaq has barely changed at 5,096.94   

    The S&P is also pretty much flat at 2,168.6  

  9. The weird world of negative interest ratespublished at 14:23 British Summer Time 26 July 2016

    Simon Jack
    BBC Business Editor

    Many of you will have read about RBS and Natwest warning businesses they may have to charge them to accept deposits due to low interest rates.

    BBC business editor Simon Jack says that's very unlikely to actually happen.

    He writes:

    "Bank of England governor Mark Carney has gone on the record saying he doesn't believe negative interest rates work, precisely because they punish banks, making them weaker and can pass on additional costs to customers, which in turn makes the economy weaker.

    "The real story in RBS and NatWest's message is the rise in the cost of business banking by an average of £8 per month.

    Read his blog in full here

  10. Property booms in Portland and Seattlepublished at 14:14 British Summer Time 26 July 2016

    Seattle skylineImage source, Reuters

    The growth in US house prices slowed in May, according to a measure from S&P Case-Shiller.

    Its 20 city composite index, external showed annual growth of 5.2%, down from 5.4% in April.

    Portland (12.5%), Seattle (10.7%) and Denver (9.5%) reported the highest annual growth rates of those 20 cities.

  11. To boldly go...published at 14:04 British Summer Time 26 July 2016

    MinneapolisImage source, Gett

    Minneapolis. Raleigh. San Diego. Perhaps not cities you'd have previously associated with British business, but the trio are to house offices for "building new economic ties" in the post-Brexit era.

    The newly formed Department for International Trade says the cities were "chosen because of their economic productivity and well-established research and development institutions", and "offer exciting opportunities to boost trade and investment".

    Stay tuned. 

  12. 'Take action'published at 13:55 British Summer Time 26 July 2016

    The Federation of Small Businesses (FSB) has responded to warnings from Natwest and RBS that they may charge customers to deposit money in their accounts.

    Chairman Mike Cherry said the news would be "deeply concerning to small firms" and that the FSB would like to “encourage small firms themselves to take action and consider whether it’s worth switching" to a more competitive bank.

  13. Due creditpublished at 13:45 British Summer Time 26 July 2016

    Our personal finance reporter tweets:

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  14. Diary of a BHS workerpublished at 13:36 British Summer Time 26 July 2016

    Business Live presenter tweets:

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  15. Speed testpublished at 13:25 British Summer Time 26 July 2016

    Openreach van

    More Business Live readers have been complaining about poor broadband speeds:

    Graham Bainbridge in Rotherham writes:

    [BT chief executive Gavin] Patterson needs to wake up. “Market leading in Europe”? What a joke. He wants to try living on my street with speeds of just about 2Mbps. Openreach vans visit at least 2 to 3 times per week because of the poor nature of the cables. We have been under review for fibre for at least 3 years now; how long does it take to do a review?"

    Floyd Amphlett writes:

    Ofcom is a toothless tiger and complaining to BT is slightly less effective or pleasurable than banging your head against a wall. In recent months, I have spent apparent years of my life speaking to operatives halfway across the world in a language somewhere between English and their native tongue. I have had eight visits from Openreach engineers whose net conclusion is that I have 4 meg broadband because my nearest junction box is further away than Luton Airport’s main runway. Nothing ever gets done."

    Steve Bass writes: 

    "0.25mps broadband speed here in Devon. But at least my BT shares have gone up."

    Haylie Carr writes:

    Promising faster broadband and delivering it are two separate issues. I live some 500 yards from the nearest fibre optic connection (3 miles from the centre of Bath and 1 mile from Bath University!) and I and my neighbours have been informed constantly that we are not even mentioned in a 10-year plan. So 2026 will come and go and I’ll still be on 4Mb. BT does not even return calls."

  16. McDonald's revenue fallspublished at 13:13 British Summer Time 26 July 2016
    Breaking

    McDonald's storeImage source, Getty Images

    McDonald's reported a 3.6% fall in quarterly revenue to $6.27bn as fewer customers visited its restaurants, mainly in the US. Like-for-like sales at US outlets open for at least 13 months were up 1.8% percent in the three months to 30 June - worse than the 3.2% expected by analysts. Net profit fell $170m to to $1.09bn.  

  17. Verizon revenue fallspublished at 13:04

    Verizon signImage source, Getty Images

    Verizon - the biggest US mobile operator that is buying Yahoo - reported a bigger-than-expected fall in quarterly revenue following a charge related to a seven-week strike and as more customers opted for cheaper plans.

    However, the company's operating revenue still stood at $30.5bn (£23.2bn) in the three months to 30 June, which makes the $4.8bn it is spending to buy Yahoo look a bit like loose change. 

    A  $2.2bn for one-off charges also dragged net profit down from $4.2bn to $702m for the quarter, although that was still better than expected.

  18. BT buoys FTSE 100published at 12:52

    TescoImage source, Reuters

    BT Group shares are leading London's main index higher this afternoon. The stock is up 4.6% after a decision by the regulator Ofcom stopped short of recommending a complete split of the telecoms giant's Openreach arm.

    Tesco and Sainsbury's are the day's biggest losers after figures from Kantar showed sales at both supermarkets had fallen in the 12 weeks to mid-July. Tesco is down almost 4%, while Sainsbury's has been marked down 2.5%.

    Overall, the FTSE 100 is up 0.2% at 6,721 points.

  19. Hailo sold to Daimlerpublished at 12:37

    Hailo appImage source, Hailo

    Hailo will merge with Daimler's mytaxi to create Europe's largest smartphone-based taxi-hailing business - but in contrast to Uber will use existing taxi firms. 

    Andrew Pinnington, Hailo boss, will be chief executive of the combined company but the Hailo name will be axed. Terms have not been disclosed.

    The new business will have 100,000 registered taxi drivers in more than 50 cities across nine European countries and be based in Hamburg.

    Hailo operates in the UK, Ireland and Spain, while myTaxi is available in Austria, Germany, Italy, Poland, Portugal, Spain and Sweden.

  20. Fibre fiascopublished at 12:28

    David Tarsh, who runs a consulting company, writes in with his tale of broadband woes:

    Quote Message

    I live close to the centre of London in West Kensington. I work from home in the media industry so a fast internet connection is important to me and my business. My home backs on to a small business park which has superfast broadband and houses on the opposite side of the street have superfast broadband. However, BT Openreach says that because the cabinet to which I am connected serves a small number of customers, the cost of upgrading will be too high for it to be commercially viable. It then suggests I look at ‘co-funding’, which would require me to run round finding other people locally who want fibre but it won’t say how many people I’d need to find or what sum of money would be required.