Today Programme
BBC Radio 4

Image source, Getty Images

Jessica Ground of Schroders is the markets guest on Today and is talking about dividends.

She says there is "huge pressure" on companies to maintain payouts to shareholders because returns from other asset classes such as government bonds have become so hard to find. 

While the yields on dividends are quite attractive to investors, Ms Ground argues that companies need a maintain a "sustainable dividend policy" that ensures they have enough cash left over for investment.

Leisha Chi
Business reporter in Singapore

Image source, Getty Images

The Philippines appears to be shaking off its name as "the sick man of Asia".

Its economy expanded by 7% in the three months to June compared with the same period a year earlier, largely due to increased government spending.

That's the fastest pace since 2013 and above market estimates for 6.6% growth.

Analysts expect growth to remain strong but said there are still political risks with new president Rodrigo Duterte (pictured).

Recent events have "re-awakened concerns over his commitment to the rule of law as well as his judgement", Capital Economics said. "With Duterte in charge it is hard to rule out a sudden shift in policy or a disruption of the political stability that has characterised the last six years."

Today Programme
BBC Radio 4

Image source, Getty Images

The minutes from the US Federal Reserve's last meeting show that policy-makers are divided over when the next rate rise should come.  

Michael Bell of JP Morgan Global Asset Management tells Today that he expects the Fed to move in December - but on this side of the pond the Bank of England could make another cut to rates before the year is out. He also thinks sterling has further to fall - possibly to the $1.25 level.

That means the path for the US and UK economies is diverging, Mr Bell says: “The risk of recession in the UK is now elevated.”

BBC Radio 5 Live

Image source, Getty Images

More from Peter Cruddas on Wake up to Money. The former Tory treasurer, founder of CMC Markets, and founder and funder of Vote Leave – is also asked about former Chancellor George Osborne's departure after the Brexit vote. 

"I felt it was unnecessary to be honest. I mean I haven't really spoken about the politics since the referendum," he says.  

"What I don't understand - and maybe i'm naïve politically - but I felt that it was the government's position to give the vote to the people and then deliver that vote once the people had decided," he added. 

"I couldn't see why the politicians - the prime minister and the chancellor - really took sides. You know it's up to the people to decide, are we in are we out? Sure they can give their opinions, but to campaign hard for one side left them in an untenable position. And I still don't understand why they left themselves in an untenable position."

BBC World presenter Rico Hizon - who just happens to be Filipino - tweets: 

BBC Radio 5 Live

Image source, Getty Images

The big interview on Wake up to Money this morning is with Peter Cruddas - former treasurer of the Conservative Pary, the founder of CMC Markets, and founder of Vote Leave.

He's asked about his tax affairs. 

"I did live in Monaco for six, seven years as a tax exile but wasn't very good at it because I was still paying UK tax...

"This year I estimate i'm going to contribute £100m to the exchequer because the capital gains tax on the IPO is around £40m. I mean I pay my taxes, when did you ever see my name on a list of some scheme...

"What I would say is not paying your taxes is a false economy because if you're distracted in avoiding taxes you're not fully focused on your day job, whatever that may be...

"I found that living in Monaco was a complete and utter waste of time from a tax point of view. What I may have saved in taxes I lost in the development of my company."   

BBC Radio 5 Live

Image source, Getty Images

Let's turn first to one of the day's big stories - the sugar tax.

The government reckons nearly a third of British children aged between 2 and 15 are already overweight or obese. Today it's launching a childhood obesity plan to confront the problem, and at its heart is a sugar tax, first outlined in George Osborne's last Budget as Chancellor in March.

Well, that announcement had campaigners celebrating, but many in industry aren't so enthusiastic, saying it'll cost jobs. Dominic Watkins is a lawyer with the law firm DWF, which represents well-known food manufacturers and retailers and he's on Wake up to Money. 

He says the industry is opposed to the idea of a sugar tax because it's been shown not to work in other countries. 

Mr Watkins cites Mexico where, he says a similar levy has resulted in only a 5% drop in calorie intake on a 3,000 calorie diet. 

A more "holistic" approach is needed to tackle the issue, he argues. 

Welcome to Thursday's Business Live.

Today we're expecting another indication of how the economy is doing when the Office for National Statistics releases its retail sales figures for July. We'll bring you those just after 9:30am.

Another story that's likely to be in the headlines throughout the day is the publication of the government's childhood obesity plan. It's expected to include a new levy on sugary drinks. We'll have all the reaction to the proposals as it comes in. 

So stay with us and we'll keep you up to date with all the latest.