Summary

  • FTSE 100 closes nears 6,900 point level

  • Samsung suspends Galaxy Note 7 sales

  • Irish government to challenge Apple tax ruling

  • Go-Ahead shares soar despite Southern disruption

  1. Good night!published at 21:33 British Summer Time 2 September 2016

    That's all for another day of Business Live - thanks for reading. We'll be back bright and early at 06:00 on Monday - do join us then and have a lovely weekend. 

    Test card FImage source, BBC ITC and Brema
  2. Korea ups pressure on fewer kidspublished at 21:32 British Summer Time 2 September 2016

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  3. US stocks end on a high notepublished at 21:09 British Summer Time 2 September 2016

    The Dow Jones ended the day 72 points higher at 18,491 despite new jobs figures for August falling short of a forecast 180,000.

    Stocks rose despite the number of jobs created last month reaching 151,000. Analysts predict that the US Federal Reserve will delay interest rate rises in September, possibly until December.

    The Nasdaq also finished higher, up 22.69 points at 5,249 while the S&P 500 closed up 9 points at 2,179.

  4. One for the roadpublished at 20:26 British Summer Time 2 September 2016

    Martini has helped create the Smart CubeImage source, Bacardi Limited

    Are you extraordinarily lazy? Then, Martini has just the thing for you.

    The spirits group has invented the Smart Cube, a device that is popped into a drink and, through the power of Bluetooth, lets bar staff know when you're running low and ready for a re-fill. 

    The ice cube-shaped gizmo also keeps tipples cool using NASA technology Aerogel.

    Rather sensibly - or annoyingly - customers can only order two drinks with the Smart Cube so it looks like people will have to get up and go to the bar after all.

    The device will make its debut at this weekend's F1 Gran Prix at Monza. 

    Bottoms up! 

  5. When one door closes...published at 20:05 British Summer Time 2 September 2016

    It has been a tough week for both Apple and Samsung. Still, there is light at the end of the tunnel for one of the smartphone giants, at least according to City commentator David Buik.

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  6. Saudi Arabia "hopefully optimistic" on oil dealpublished at 19:44 British Summer Time 2 September 2016

    Adel al-Jubeir, Saudi Arabia's foreign ministerImage source, Getty Images

    Adel al-Jubeir, foreign minister of Saudi Arabia, the world's biggest oil producer, appeared upbeat before a meeting later this month between members of Opec.  

    Members of the oil producing cartel are due to meet at the International Energy Forum in Algeria where they will discuss freezing output.

    He said: "We are beginning to have a meeting of the minds but it is a work in progress and we'll see what happens in the meeting in Algeria. And I'm hopefully optimistic."

    Brent crude rose by 3.1% on Friday to $46.89 a barrel, reversing four days of falls. US oil prices also rose, by 3.2% to $44.54.

  7. December rate forecast lifts dollarpublished at 19:28 British Summer Time 2 September 2016

    The US dollar staged a recovery of sorts on Friday afternoon after weaker than expected new jobs data for August weighed on the greenback.

    The speculation that the US Federal Reserve will raise interest rates in December instead of September sent the dollar up 0.2% against sterling.   

  8. Samsung's washoutpublished at 19:03 British Summer Time 2 September 2016

    Samsung demonstrates the S7 at the IFA in BerlinImage source, Getty Images

    Bad timing or just incredibly ironic? 

    Samsung was demonstrating the waterproof wonders of its S7 smartphone at the IFA consumer electronics trade fair in Berlin.

    The South Korean electronics giant announced earlier on Friday that it was recalling its Galaxy Note 7 after battery problems where causing the phone to catch fire.

    Looks like the company was having much more fun in Germany.

  9. US stocks rise despite jobs datapublished at 18:50 British Summer Time 2 September 2016

    The New York stock exchangeImage source, Getty Images

    The Dow Jones industrial average remained in positive territory despite disappointing new jobs data. 

    Stocks rose 45.89 points to 18,465 with energy giants Chevron and Exxon Mobil among the best performers after weaker than expected jobs growth for August weighed on the dollar to make commodities cheaper. 

    The Nasdaq was trading up 11.9 points at 5,239 while the S&P 500 rose 5.9 points at 2,176.

  10. Welcome aboard the G20 expresspublished at 18:28 British Summer Time 2 September 2016

    A volunteer leads G20 attendees at Hangzhou railway stationImage source, Getty Images

    It is all go in Hangzhou as the City readies itself for the arrival of the leaders from the G20 nations for the start of the summit. 

    The meeting in China is Theresa May's first as the UK's prime minister and comes at a interesting juncture in Sino-British relations.

    The government decided in July to conduct a review of a plan to build an £18bn nuclear reactor at Hinkley Point in Somerset.

    The Chinese are providing a third of the financing of the reactor which is being built by France's EDF. The review could cause further delays to the project which, when first mooted in 2007, was supposed to be producing energy by 2017.

    World leaders will also use the summit to grill Ms May on Brexit and its implications.

  11. Do not adjust your smartphonepublished at 18:08

    Even the BBC makes mistakes sometimes. Lots of readers got a breaking news alert in Bengali late this afternoon, sparking fears that the site had been hacked.

    Predictably, the explanation is somewhat more mundane: human error. The article was about a police raid on militants in Dhaka, by the way.

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  12. Auction halves number of Greek networkspublished at 17:53

    Antenna TVImage source, Reuters

    The number of privately owned TV networks in Greece has been halved to four after a government auction of new licences.

    A public auction of just four licenses has raised €246m (£206m) for the government, led by Alexis Tsipras.

    Only two existing broadcasters, Skai and Antenna, have survived, while the Star and Alpha TV stations failed in their bids.

    The new licences start in 90 days following the controversial auction.

    Read more here.

  13. Europe closes higherpublished at 17:40

    Markets on the continent have also enjoyed a strong end to the week, with the CAC in Paris jumping 2.3%, while the Dax in Frankfurt added 1.4%.

    Meanwhile in New York things aren't quite as rosy, with the Dow 0.2% higher, the S&P 500 and the Nasdaq both up 0.25%.

  14. CMA examines Cineworld dealpublished at 17:27

    The cast of Star Trek Beyond at the Empire Leicester SquareImage source, Getty Images for Paramount Pictures

    The Competition and Markets Authority (CMA) has announced that it is taking a look at Cineworld's acquisition of five cinemas from the Empire chain. 

    Cineworld's additions include the Empire Leicester Square, which was recently overrun with "Trekkies" at the UK premiere of Star Trek Beyond (pictured).

    The deal was completed last month, but the CMA wants to give it the once over, presumably to make sure film lovers are getting value for money.

    The initial assessment should take place within 40 days. If the CMA has any concerns, it may then decide to do an in-depth investigation - although they are rare these days.   

  15. Apple: finance minister's statementpublished at 17:09

    Business correspondent Joe Lynam tweets:

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  16. Rate rise doubts boost FTSEpublished at 16:55

    Gold barsImage source, Getty Images

    Jawaid Afsar, senior trader at Securequity, says: "Today's jobs data has raised expectations that a US rate hike could be delayed. A weakness in the dollar following the payroll numbers has helped commodities, which have a heavy weight on the benchmark FTSE 100 index."

    Commodities shares were in demand after prices of gold, oil, copper and nickel advanced following a fall in the dollar after the US jobs data. A weaker US currency generally makes dollar-priced commodities cheaper for other currency holders and in turn raises demand. 

    The UK mining index rose 2.5 percent, boosted by rallies of between 2% and 3.8% in Fresnillo, Anglo American, Randgold Resources and Glencore. The UK oil and gas index was up 1.9% as Shell and BP both added about 1.6%. 

  17. London shares jumppublished at 16:46

    The FTSE 100 has posted a storming end to the week with its 150 point rise. The London market was aided by disappointing job figures in the US that send the dollar lower.

    Punters also turned to companies that are considered "good dividend payers", according to Augustin Eden, analyst at Accendo Markets, including Hikma Pharmaceuticals, which led the FTSE 100 gainers to close up 4.8% at £21.78.

    Cruise operator Carnival, on the other hand, led the fallers to end the day down 4.3% at £35.08 after a downgrade by Morgan Stanley.

    Housebuilders also made up the main fallers on the FTSE 100 following a dire outlook by McCarthy & Stone. 

  18. FTSE soarspublished at 16:37
    Breaking

    The London blue-chip index has ended the week 2.2% higher at 6,894 points.

    The pound is also having a decent day, up 0.25% to $1.3299.

  19. Brazil booms again?published at 16:24

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  20. The scent of successpublished at 16:12 British Summer Time 2 September 2016

    Perfume bottles in a museumImage source, Getty Images

    How exciting - a new perfume range! Scent obsessives have the house of Louis Vuitton to thank for a new olfactory delight. 

    But perhaps what is more interesting is what this says about Louis Vuitton-owner LVMH. The company, which also owns brands including Christian Dior and Givenchy, is trying to balance falling demand for high-end luxury products by appealing to middle income customers without tarnishing its lofty reputation.  

    It is Louis Vuitton's first perfume since the merger in 1987 that created LVMH. It has given star "nose" Jacques Cavallier-Belletrud four years to come up with the goods. 

    However, at €200 a pop the new scent, which is called nonsense like "turbulences" and "matiere noire", remains something of a luxury. The rest of us will have to settle with stealing surreptitious squirts of the scent in department stores.