Summary

  • Dominic Chappell banned from driving

  • Housebuilders push FTSE 100 higher

  • Mothers' pay lags far behind men: report

  • Oil drops below $49 a barrel

  1. Chappell 'cannot afford a chaffeur'published at 16:44

    More on Dominic Chappell. He took to the stand to plead with Aldershot magistrates court not to take his licence away. He said it would be "a stretch" to employ a chauffeur or take taxis, after declaring his weekly income was £5,000. 

    Mr Chappell claimed that he suffered from "abuse" and "strong language" from other passengers when he used trains. He said he has to attend meetings four days a week as part of discussions with two parliamentary committees and the pensions regulator over the collapse of BHS. 

    His manor house in the village of Winterborne Clenston is apparently two miles from a bus stop and about 20 miles from the nearest train station. Mr Chappell's wife drives 100 miles each day taking his young son to a private boarding school, where his daughter is also a weekly boarder, he said.

    Michael Levy, defending, said: "Given the isolation and his particular commitment at the moment - is it not an exceptional situation he finds himself in? It may be there is a genuine public interest in this defendant helping these people as much as he possibly can, to the full and maximum. Clearly if he is not able to do that the whole process is going to be more difficult and drawn out and take longer." 

    He added: "Because of the exceptional nature of what he's doing and who he is trying to assist in the resolution of this very unfortunate and public mess that has arisen, I would invite the court to give him one last chance." 

  2. Dominic Chappell banned from drivingpublished at 16:26
    Breaking

    Dominic ChappellImage source, Reuters

    The former racing car driver who bought BHS from Sir Philip Green for £1 last year has been banned from driving for six months for speeding. 

    Dominic Chappell was clocked doing almost 64 miles an hour in a 40mph zone in Andover, Hampshire, on 6 April. 

    After being pulled over, he told police: "This will cost me £25,000. I've been driving since I was 18 and have never had an accident. I drive an average of 35,000 miles a year and I used to be a race car driver."

    He was disqualified from holding a driving licence for six months at Aldershot magistrates' court. 

    Chappell, who previously pleaded guilty to the offence, has 10 points on his licence for three other speeding offences in 2013, 2014 and 2015. 

  3. Should Tata Steel be bailed out?published at 16:13

    The World at One
    BBC Radio 4

    Steel prices have risen since Brexit, so should the UK Government still bail out Tata Steel?

    The British steel industry has spent 2016 in crisis, with Tata announcing it wanted to sell its UK business, leaving about 11,000 workers still uncertain over what the future will bring.

    And, as reporter Hywel Griffith has been hearing in Port Talbot, many want to know if Theresa May will honour the pledges made by her predecessors.

  4. Night Tube shopping boostpublished at 15:57 British Summer Time 23 August 2016

    Oxford Circus tubeImage source, Getty Images

    The transport-related news just keeps on coming today. London's West End says last weekend's introduction of the Night Tube boosted footfall by 14% on Saturday night. 

    More than 100,000 passengers took advantage of the new overnight Underground service, with about 6,500 people tapping in at Oxford Circus, one of London's busiest stations, on Saturday night.

    Steven Medway, of the New West End Company, said: "The newly extended operating hours will allow more people to experience and enjoy the diversity of the West End beyond its world-class retail offering, from entertainment and leisure to food and beverage."

    The Victoria and Central lines are the first to provide overnight services on Fridays and Saturdays, but there are plans to extend the night network to the Jubilee, Northern and Piccadilly lines this autumn.

  5. Get on the floorpublished at 15:43

    Felicity Morse, digital editor at inews.co.uk, tweets:

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  6. JRP shares surgepublished at 15:28

    JRP shares

    Biggest riser on the FTSE 25o today is JRP Group, up a stonking 17%. So what is JRP, I hear you ask? It was created earlier this year following the £1.6bn merger of annuity provider Just Retirement and its rival Partnership Assurance.

    JRP issued a trading statement , externaltoday telling investors that an update on achieving savings of at least £40m would come in due course.

    Rodney Cook, chief executive, said: "In these volatile times we wanted to reassure the market ahead of our results. Our merger is progressing well and we remain focused on making money for our shareholders by offering good value to our customers."

  7. US new home sales soarpublished at 15:14

    The rate at which Americans bought new homes in July rose to its highest level for nearly nine years, as low mortgage rates and a steady job market fuelled a real estate surge. 

    New home sales jumped 12.4% last month to a seasonally adjusted rate of 654,000 annual units - the strongest level since October 2007 - the Commerce Department said. 

    The demand has eclipsed the pace of construction. Just 4.3 months' supply of new homes is available on the market, down from 5.2 months a year ago. 

    Construction of single-family houses has picked up this year, as the housing market continues to recover from the drop-off caused by the Great Recession and subprime mortgages. 

  8. Prudential strike votepublished at 14:59 British Summer Time 23 August 2016

    Prudential logoImage source, Prudential

    Speaking of strikes, workers at Prudential have voted to take industrial action in a row over offshoring of jobs. 

    Unite said its members based in Reading had backed action by 97%, saying 81 jobs will be lost by switching work to India. 

    The workers had voted to not co-operate with the transfer of work, which Unite said would "severely delay" the move. 

  9. New York opens higherpublished at 14:48 British Summer Time 23 August 2016
    Breaking

    Wall Street opened higher for the first time in three days as investors await Federal Reserve Chair Janet Yellen's speech this week for clues on the next interest rate hike. 

    The Dow Jones Industrial Average was up 0.4% at 18,598 points. The S&P 500 was up 0.3% at 2,189.8, while the Nasdaq Composite was up 0.4% at 5,265 points. 

  10. Even more train painpublished at 14:41 British Summer Time 23 August 2016
    Breaking

    Workers at Southern Railway are to stage a 48-hour strike on 7 and 8 September in the long-running row over the role of guards, the RMT union said. 

  11. Train painpublished at 14:35

    Corbyn on a Virgin TrainImage source, Virgin Trains

    Virgin Trains says its CCTV shows Jeremy Corbyn sitting down in an empty seat more than two hours before reaching Newcastle. The embattled Labour leader was on his way to debate with Owen Smith in a Labour leadership hustings in Gateshead.

    A Virgin Trains spokesman said: "We have to take issue with the idea that Mr Corbyn wasn't able to be seated on the service, as this clearly wasn't the case. We'd encourage Jeremy to book ahead next time he travels with us - both to reserve a seat and to ensure he gets our lowest fares - and we look forward to welcoming him on board again." 

  12. Branson on Corbynpublished at 14:23 British Summer Time 23 August 2016

    Virgin Trains has questioned footage showing Jeremy Corbyn sitting on the floor of a "ram-packed" service.

    In a film shown on The Guardian, external, the Labour leader said he was experiencing a problem "many passengers face every day" on the London to Newcastle train.

    But Virgin said CCTV showed Mr Corbyn and his team walking past available seating before starting filming.

    It says the crew helped him to a coach where seats were available and he sat down for the rest of his journey.

    Sir Richard Branson has also joined in: 

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  13. Good afternoon!published at 14:14

    Chris Johnston
    Business reporter

    Thanks to Dan and Tom for today's coverage thus far. I'm here on what is - let's face it - not the most exciting day there's ever been for business news. 

    Nevertheless, I shall scour the ends of the earth (well, the United States at least) in a valiant attempt to keep you both informed and entertained. Brickbats or bouquets to bizlivepage@bbc.co.uk or on Twitter: @cajuk, external

  14. No more 'jobs for girls and jobs for boys'published at 14:02

    The World at One
    BBC Radio 4

    Maria Miller, the chair of the Women and Equalities Select Committee, tells Martha Kearney that smaller companies should have to report the gender pay gap as well as larger companies, as they have to do in Scotland. 

    However, Mrs Miller said gender pay gap reporting "isn't going to solve everything" and called for a change of culture in workplaces "so there aren't jobs for girls and jobs for boys".   

  15. Beer mega-merger hit by court setbackpublished at 13:46

    Beer bottlesImage source, AFP

    A deal to create the world's biggest beer brewer is facing an extra hurdle after a UK judge ruled the firms need to hold an additional shareholder vote.

    The court said shareholders in SABMiller - which makes Peroni and Grolsch - should be split into two groups ahead of a vote on its £79bn takeover by Budweiser brewer Anheuser Busch InBev (ABInbev).  

    SAB told the stock market last year that because there were two different offers - shares or cash and shares - it would have to ask a judge whether the structure of the deal had in effect created two different classes of shareholder.

    Today Programme presenter Dominic O'Connell explained last month that a ruling for two shareholder votes increases the chances that the deal could be blocked.

    Aberdeen Asset Management, which has opposed the takeover bid, welcomed the proposal for a shareholder vote split.  

  16. Energy overchargingpublished at 13:32 British Summer Time 23 August 2016

    Industry correspondent John Moylan flags up figures from trade body Energy UK, which show 7,000 accounts were overcharged due to incorrect meter readings. 

    The error - caused by mixing up measurements from older imperial meters with modern metric ones - was revealed last week. It resulted in some households paying nearly three times too much.  

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  17. Off the rockspublished at 13:22 British Summer Time 23 August 2016

    Transocean Winner oil rigImage source, AP

    Readers from yesterday's Business Live might remember the oil rig which crashed into the side of a Scottish island. Well, the drilling rig is now on its 54-mile journey to the other side of the island of Lewis - but at a slower rate than anticipated. 

    The Transocean Winner rig was successfully refloated at high tide last night. Two tug boats are taking the 17,000 tonne structure to the east side of the island, where experts will assess the damage.

  18. Tesco drops saltires from Scottish berriespublished at 13:08 British Summer Time 23 August 2016

    Strawberry punnets

    Supermarket giant Tesco has been criticised after it admitted removing an image of the Scottish saltire from punnets of Scottish berries. 

    The flag has been replaced with the union jack on boxes of strawberries and raspberries grown north of the border. 

    Tesco's official Twitter account told one customer that the move followed complaints from English customers. But a spokesman for Tesco denied that, and insisted that it was intended to "provide consistency".

    Read more here.

  19. Jennifer Lawrence 'tops Forbes actress list'published at 12:59 British Summer Time 23 August 2016

    Actress Jennifer Lawrence attends the New York premiere of 'A Beautiful Planet'Image source, Getty Images

    Jennifer Lawrence has been named the world's highest paid actress for the second year in a row, Forbes reports, external, making $46m (£35m) in 2016.

    But the Guardian points out that the highest paid male actor, Robert Downey Jr, earned twice that amount, external.

  20. 'I must be one of the lucky ones'published at 12:45 British Summer Time 23 August 2016

    Women have been telling the BBC about their workplace experiences after maternity leave.

    Nerys Dodds of Great Yarmouth, Norfolk, says:

    "I must be one of the unmentioned luckier ones. I work in a small team of men and women who are all on the same pay grade and not only that, since returning to work three years ago from maternity leave I have been encouraged to progress to higher managerial roles, and [have] been allowed to change my working hours and contract a total of three times to allow a slow increase in hours as my children grow, and to allow me to provide as much care... as practical.

    "It’s such a shame there is less of this support elsewhere."

    Are you dealing with unfair treatment at work while pregnant? Are you a new mother losing out at work? Email haveyoursay@bbc.co.uk, external with your experience using “Gender pay gap 37156178” as subject.