Summary

  • UK services industry rebounds in August, suggesting the country could "avoid recession"

  • Japan warns firms may move European HQ out of Britain

  • MPs to debate calls for second EU referendum

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  1. Watch: Barbers on Brexitpublished at 14:12

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  2. Your views on Brexit Britainpublished at 14:01 British Summer Time 5 September 2016

    Have your say using the hashtag #BrexitBritain on Twitter.

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  3. Sterling effortpublished at 13:55

    Pound coin and noteImage source, Getty Images

    The pound surged earlier to $1.3375 - a seven-week high against the dollar - after a report showed the UK services industry returned to pre-referendum levels in August.

    Sterling has since fallen back a bit - to $1.3329 - although it's still 0.3% higher on the day. Against the euro, it is trading 0.2% higher at €1.1945.   

    Chris Saint of Hargreaves Lansdown said the services figures come "hot on the heels of last week’s encouraging manufacturing numbers and provides further evidence that the economy is managing to shrug off Brexit-related uncertainties, for the time being at least". 

  4. Theresa May on trade dealspublished at 13:41 British Summer Time 5 September 2016

    Theresa MayImage source, Reuters

    At her G20 press conference, Theresa May reiterates that Brexit means Brexit - saying the government will deliver on the referendum vote to leave the EU. She says she's been encouraged in bilateral talks with world leaders by "a willingness to talk about opening up trading relationships".

    Referring to Japan she said the two countries had been clear they would work together to "maintain and build on our relationship", she adds.

  5. Japan says all options open post-Brexitpublished at 13:33 British Summer Time 5 September 2016

    Today Programme
    BBC Radio 4

    From earlier in the day. All options are open on Japanese business investment in the UK after Brexit, says the country's ambassador to the UK.

    Koji Tsuruoka said it was hard to imagine Japanese companies pulling out entirely from the UK, but said they had concrete demands for negotiations on the UK leaving the EU.

    Media caption,

    The Nissan factory in Sunderland is one of the biggest Japanese investments in the UK

  6. Set your alarmspublished at 13:21 British Summer Time 5 September 2016

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  7. UK can be 'global leader in free trade' - Maypublished at 13:06 British Summer Time 5 September 2016

    Prime Minister Theresa May is holding a news conference following talks at the G20 summit of world leaders in Hangzhou.    

    She says leaders have agreed at the summit to "oppose a retreat to protectionism" and committed to ratify the WTO agreement to reduce costs and burdens of moving goods across borders.

    On post-Brexit Britain, the PM says she set out the UK's ambition to become "the global leader" in free trade and signalled the country's determination to secure trade deals with countries around the world.

    She says India, Mexico, South Korea and Singapore have said they would welcome talks on removing barriers to trade, while the Australian trade minister would visit the UK next week for "exploratory talks".

    Mrs May says she'll be chairing a cabinet committee next week to consider trade strategy.

  8. Fund manager Hermes says vote down Sports Direct chairman and CEOpublished at 12:52 British Summer Time 5 September 2016

    Fund manager Hermes says Sports Direct shareholders should vote against re-electing chairman Keith Hellawell and chief executive Dave Forsey as well as three other board members.

    Hermes, which manages £26bn, said governance concerns and “poor working practices” meant investors should no longer support the leadership of the firm.

    Sports Direct's founder Mike Ashley has admitted workers at its Derbyshire warehouse were paid below the minimum wage and its policy of fining staff for being late was unacceptable.

    HMRC is investigating the firm over the minimum wage issue, Mr Ashley told MPs in June.

    Sports Direct holds its annual meeting on Wednesday where shareholders will vote on matter including re-electing board members, executive pay and receiving the annual report. But because Mr Ashley owns more than 55% of the stock, the remaining stockholders may struggle to be heard.

  9. Korea 'concerned' about Brexitpublished at 12:41 British Summer Time 5 September 2016

    Sky political editor Faisal Islam tweets from the G20

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  10. What's happened to the pound?published at 12:28 British Summer Time 5 September 2016

    A useful graphic from our friends on the visual journalism desk...

    Currency
  11. New car sales grow in Augustpublished at 12:17 British Summer Time 5 September 2016

    car salesImage source, Getty Images

    It's not just services PMI which rose in August, new car sales did too, increasing 3.3% year on year, with 81,640 cars were registered last month.

    The Society of Motor Manufacturers and Traders (SMMT), external, which compiles the figures, said growth was driven by the fleet sector, which saw a 7.7% rise. 

    "August is traditionally one of the quietest months as consumers look ahead to the September plate change, so growth, albeit small, is good news.

    "The key to maintaining this strong market is consumer confidence for which we look to government to deliver the conditions for economic growth," says SMMT chief executive Mike Hawes.

  12. Fair fight?published at 12:03 British Summer Time 5 September 2016

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  13. What of the 16,141,241?published at 11:49 British Summer Time 5 September 2016

    Some of you have been writing in with your thoughts on Brexit - please keep them coming to @bbcbusiness on Twitter or bizlive@bbc.co.uk.

    Linda and Steve Gimbert - As pensioners living in France for the past 12 years our biggest fear about Brexit is what will happen to the reciprocal health arrangements if these are discontinued, cover under the French health system would no longer be guaranteed. We were denied the right to vote on Brexit along with thousands of others because our papers never arrived. We feel as if we have been forgotten, there has been a lot of talk about what will happen to EU nationals in the UK, but little about ex pats living abroad.

    Sheila Ennis, Surbiton (born 1944) - The PM declares to the world that the UK voted to leave the EU. When is someone going to point out that only just over one third of the electorate voted to leave. Don't the views of the majority matter, particularly the 16,141,241 people who voted to remain? 

  14. Juncker junks UK trade talkspublished at 11:34 British Summer Time 5 September 2016

    Christine Lagarde, Theresa May, Jean Claude JunckerImage source, AFP

    EU commission chief Jean-Claude Juncker isn't too happy that Theresa May is doing her bit for UK trade at the G20 Summit. 

    Mr Juncker said he opposes trade talks between Britain and other economies while it remains part of the European Union. 

    "I don't like the idea that member states of the EU, including those who are still a member state of the European Union, are negotiating free trade agreements," he told reporters.

    Under EU rules, the UK cannot sign trade treaties with other countries until it's left the bloc. Formal negotiations with Brussels itself can't start until London triggers Article 50, the treaty provision governing its departure. 

    And from this photo, it doesn't look like there's been much talking between the two of them.  

  15. Angry commuters launch crowd-funding campaignpublished at 11:21 British Summer Time 5 September 2016

    SouthernImage source, PA

    Some Southern Rail passengers are so fed up with delays and cancellations on regular services, that they are crowd-funding £25k to pay for legal action against the government, which awarded the franchise.  

    There have been months of disruption, because of a long-running dispute over the role of conductors as well as high levels of staff sickness, The Independent reports, external.

    Angry commuters are questioning the "legality of decisions of a government who, in this particular case, seem more concerned with serving the interests of a private company whose first priority is their shareholders, rather than passengers who are paying for a service that they are not receiving”.

  16. FTSE stays negativepublished at 11:07 British Summer Time 5 September 2016

    FTSE 100

    The FTSE 100 has stayed in negative territory despite the better-than-expected services data. It's currently 0.07% lower at 6889.99.

    Sterling's rise after the services data is not necessarily good news for the globally focused firms which make up the majority of the blue-chip index as a weaker pound helps makes their exports more attractive. 

  17. 'Let's give it a go'published at 10:58 British Summer Time 5 September 2016

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  18. Brexit a 'tall order'?published at 10:43 British Summer Time 5 September 2016

    Lord AshcroftImage source, Getty Images

    The pollster Lord Ashcroft, writing in the Telegraph, external, outlines what he believes voters want from Brexit.

    "A clear majority thinks retaining access to the EU single market would be compatible with Brexit," he says. 

    "Indeed, leavers are even more likely to think this than remainers."

    But voters also want curbs on immigration, he adds, which could prove "a tall order". 

  19. What will third quarter growth be?published at 10:31 British Summer Time 5 September 2016

    BBC economics editor Kamal Ahmed tweets...

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  20. 'Don't count your chickens'published at 10:29 British Summer Time 5 September 2016

    chickenImage source, Getty Images

    It's not only Pantheon warning not to read too much into August's surprisingly upbeat services PMI.  

    Laith Khalaf, senior analyst at Hargreaves Lansdown, says it's "way too early to start counting any chickens just yet".

    "Dramatic bounce-backs are often a reflection of the depths of previous despair, rather than of optimism over the future. 

    "In terms of services output, today’s reading is simply in line with survey results earlier in the year, and it is last month’s sharply negative reading which is the outlier," he says.