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. Openreach proposalspublished at 07:03
    Breaking

    Ofcom's report, external into Openreach is out. The headlines? 

    • Openreach to become a legally separate company within BT Group and be required to make decisions "in the interests of all Openreach’s customers".
    • Have its own board with non-executives not affiliated to BT in any way and appointed in consultation with Ofcom.
    • Greater consultation with customers and an obligation to consult formally with customers such as Sky and TalkTalk on large-scale investments.
    • Openreach should have its own brand, not affiliated with BT Group, to "help embed the organisational culture of a distinct company".

  2. Making a mintpublished at 06:58

    Today Programme
    BBC Radio 4

    CoinsImage source, Getty Images

    The Royal Mint, founded more an 1,000 years ago, has made an impressive £30m profit this year, up 12%. The company doesn't just make coins in the UK - it's also a huge exporter of "blanks", or metal discs that are minted into coins. Fully 60% of the firm's production is exported, including 2.5 million ounces of silver to the US.

    The Mint also sells gold bullion, and chief executive Adam Lawrence tells Dominic O'Connell on Today that since Brexit, "there has been a 250% increase" in interest.

  3. Hyundai profits fallpublished at 06:52

    HyundaiImage source, Getty Images

    Second-quarter profits at Hyundai Motor fell 3% to a lower than expected 1.66 trillion won (£1.11bn, $1.46bn)- the 10th consecutive quarterly decline following stiff competition and shrinking demand for its cars in both the United States and South Korea. 

    Hyundai, the world's fifth-biggest car maker together with affiliate Kia Motors, said revenue for the three months to June rose 8%. 

  4. Pension planning?published at 06:45

    Today Programme
    BBC Radio 4

    In the wake of accusations from two select committees that Sir Philip Green had enriched himself and his family at the expense of BHS pensioners, Lady Barbara Judge - chair of Institute of Directors - tells Today that a "simple plan" could help prevent similar scandals.

    Every time there is an acquisition or a merger involving a company with a pension plan, she says, the interested parties should be forced to file "a simple form showing what the terms of the deal were and how the pensioners would be protected".

  5. Warning shot for the Bankpublished at 06:40

    BBC Radio 5 Live

    NatWest logoImage source, Getty Images

    Mike Amey of Pimco - one of the world's largest investment managers - is asked about the negative interest rates story on Wake Up to Money.

    He regards the letter to hundreds of thousands of NatWest and RBS business customers as "a warning shot across the bows" for the Bank of England by high street lenders.

    If the Bank were to start charging them to hold money in its vaults, the banks would look to recoup that expense - and this is just a reminder, Mr Amey says. 

    He also gives us the understatement of the day thus far - that the returns on a 10-year UK government bond of 1% remains "disappointing".

  6. Pay package proposalspublished at 06:32

    BBC Radio 5 Live

    Oliver Parry, head of corporate governance policy at the Institute of Directors, tells Wake Up to Money that proposed reforms to executive pay for UK companies are a "step in the right direction".

    However, he says there will be big resource issues about revising executive pay packages annually rather than every three years. 

    That means asset managers will have to vote every year and engage more regularly than just at companies' annual meetings, Mr Parry adds.

  7. Flipkart pouncespublished at 06:25

    Simon Atkinson
    Business correspondent in Singapore

    FlipkartImage source, Flipkart

    Flipkart - India's biggest ecommerce business - has bought rival fashion e-tailer Jabong for an undisclosed sum.

    Once a big player in Indian online retail, Jabong has suffered from amid poor sales in recent months amid management shake-ups.

    It's an interesting twist in an industry that has a high profile and rapid customer growth but which continues to make big losses.

    In 2014 Flipkart bought another rival, Myntra, which also focuses on fashion.

  8. Dare to drone?published at 06:18 British Summer Time 26 July 2016

    DroneImage source, Amazon

    First there was a prototype; now there could be an army of 50mph drones heading to a home near you. Amazon and the UK government are teaming up to test aerial delivery methods, which could one day mean a parcel arriving on your doorstep 30 minutes after the order is placed.

    There are just a few teething problems, however:

    • How can you operate drones safely beyond "line of sight"? The current rules say a pilot has to be able to see the aircraft at all times.
    • How can you build a drone that won't bump into things? Much like autonomous cars, it would need sensors to help it avoid objects.
    • How can you build a system where one pilot is responsible for many drones?

    Answers on a postcard please - or bizlivepage@bbc.co.uk, if you prefer.

  9. Challenger bank chance?published at 06:09

    BBC Radio 5 Live

    Big news this morning is the letter from Natwest and Royal Bank of Scotland warning business customers that they may be charged for keeping money in their accounts. 

    Ray Boulger of John Charol tells Wake Up to Money that if big banks do impose such charges - a result of the Bank of England imposing negative interest rates - it could be a big opportunity for the new challenger banks to win new customers. 

    While we may be used to getting no interest on our money, paying for the privilege of keeping some cash in an account remains "a big jump", Mr Boulger adds.

  10. Good morningpublished at 06:03

    Chris Johnston
    Business reporter

    Welcome to another day of Business Live with myself and Joe Miller. We'll be taking a close look at the Ofcom report into BT-owned Openreach and the Investment Association's final report on executive pay. Thanks for joining us. Get in touch at bizlivepage@bbc.co.uk with your thoughts or follow me on Twitter at @cajuk, external