Summary

  • US says Airbus subsidies cost it billions in lost trade

  • FTSE races ahead as US keeps rates on hold

  • Three former Tesco executives appear in court

  • Korean Air Lines confirms Hanjin Shipping loan

  1. Pun and gamespublished at 12:06 British Summer Time 22 September 2016

    A popular pun for a business is AbrakebabraImage source, Getty Images

    The business name puns just keep on coming.

    Following Fishing Republic's takeover of the delightfully-monikered Fantackletastic, we asked you to send in the best puns you've seen.

    Those causing particular hilarity include: 

    • Golf Par Excellence
    • Abrakebabra - which, frankly, sounds like a gastronomical minefield 
    • Battersea Cod's Home, which is a chippy.

    Please keep sending them in. And remember, the cheesier, the better.  

  2. Bidders circle National Grid's gas armpublished at 11:50 British Summer Time 22 September 2016

    National Grid is selling a 51% stake in its gas armImage source, Getty Images

    The number of parties lining up to buy National Grid's gas network appears to be getting more and more crowded.

    The Financial Times is reporting that Li Ka-shing is pulling together a bid for the gas distribution business which supplies 11 million British homes.

    The tycoon's Cheung Kong Infrastructure business is understood to be examining an offer for a 51% stake in the group by the deadline on Friday.

    At the weekend, the Sunday Times reported that the Chinese may also bid.

    If either is victorious, it would test the government's new policy of taking a "golden share" in foreign takeovers of critical British infrastructure.  

  3. Puntasticpublished at 11:39 British Summer Time 22 September 2016

    Spex in the CityImage source, David M

    We're asking for your best business name puns, and some absolute corkers have been coming in. Here are a few of the highlights:

    • Fatboy Trims - Truro
    • Gallerie Singleton - London
    • E-Wok - St Margarets
    • Spex in the City - London
    • Bairnecessities - Glasgow 

    Get in touch at bizlivepage@bbc.co.uk with more suggestions. 

  4. FTSE 100 breaks through 6,900published at 11:26 British Summer Time 22 September 2016

    Gold mining stocks bounced after the dollar fell on the US Fed rate holdImage source, Getty Images

    The FTSE 100 index of leading shares broke through 6,900, the highest level since mid-August, following the US Fed's decision to hold interest rates.

    The announcement by the US central bank, which is now forecast to raise rates by the end of the year, sent the dollar lower and buoyed commodity stocks such as gold miners. The FTSE 100 rose 1.2%, up 82.66 points.

    Mining stocks made up four of the five leading gainers, led by BHP Billiton, up 4.6%, followed by Glencore which added 4.3% and precious metal miner, Fresnillo, which gained 3.9%.

    Gold prices fell 0.3% to $1,332.05 an ounce.

    Capital Economics analyst Simona Gambarini, said: "Investors and markets are taking bets on a December hike and that is weighing on gold prices."

  5. Financial stability remains 'challenging'published at 11:19

    IHS Markit chief economist Howard Archer tweets

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  6. UK faces 'golden opportunity'published at 11:07

    Stephanie Flanders

    The Royal Society for the encouragement of Arts, Manufactures and Commerce has brought out its recommendations for how the UK can achieve more inclusive economic growth.

    Stephanie Flanders, external, the chairwoman of the Inclusive Growth Commission and a former BBC economics editor, says the message that British people "want the freedom to do things differently" came through loud and clear from the EU referendum.

    "It is a nation in 2016 with a golden opportunity – in the wake of the Brexit vote – to question old assumptions and re-cast old relationships to put that challenge centre stage."

    With that in mind, the RSA's four proposals for Theresa May are:

    1. Devolved powers - not just to areas already succeeding
    2. Investment - in social services as well as buildings and transport
    3. Industrial strategies - a welcome shift after George Osborne's scepticism
    4. Value - projects should be measured for their "inclusive growth"
  7. Ex-Tesco execs appear in courtpublished at 10:55 British Summer Time 22 September 2016

    Three former Tesco senior executives have appeared at Westminster magistrates court. They are facing two charges of fraud as part of a continuing investigation into accounting irregularities at the supermarket giant in 2014. 

    Chris Bush, Tesco's former UK boss, Carl Rogberg, the former finance director for Tesco UK, and John Scouler, Tesco's former UK commercial director for food, spoke to confirm their names and addresses. 

    All entered pleas of not guilty to both charges. 

    Judge Vanessa Baraitser referred the case to Southwark crown court for 20 October. The three defendants were released on unconditional bail.   

    Chris BushImage source, Reuters
    Image caption,

    Chris Bush, Tesco's former UK managing director

    Carl RogbergImage source, Reuters
    Image caption,

    Carl Rogberg, the former finance director for Tesco UK

    John ScoulerImage source, PA
    Image caption,

    John Scouler, Tesco's former UK commercial director for food

  8. Asian shares wrap on a highpublished at 10:47 British Summer Time 22 September 2016

    Kospi stock exchangeImage source, AFP

    The good news from the US Federal Reserve and the Bank of Japan did the trick for Asian markets on Wednesday, sending stocks across the region higher. 

    In China, Hong Kong's Hang Seng wrapped trading 0.4% higher while the mainland benchmark Shanghai Composite jumped by 0.5%. 

    Australia's ASX 200 closed 0.7% higher, while in South Korea the Kospi finished 0.7% higher after the morning session. 

    Shares of embattled Hanjin Shipping jumped by almost 30% on news that its largest shareholder agreed to provide some emergency cash

    Japan's Nikkei 225 was closed for a holiday. 

  9. Not baked inpublished at 10:33

    Mary BerryImage source, PA

    The chief economist at forex firm World First, Jeremy Cook, has a tongue in cheek observation for what's not moving the pound (one for our British readers, probably). 

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  10. Pound reboundspublished at 10:29 British Summer Time 22 September 2016

    Pound notes and coinsImage source, AFP

    The pound has bounced back from a five-week low against the dollar after the US central bank held interest rates and signalled a less aggressive path for rate hikes in coming years. 

    The Federal Reserve's decision sent the dollar down against many currencies, but the pound was the biggest beneficiary.

    Sterling is currently 0.4% higher against the dollar at $1.307, but flat against the euro at €1.165.

    Investors will now focus on a speech from Bank of England chief Mark Carney this evening in Berlin. 

    "We will be looking for signs on whether he thinks there is need for another rate cut soon," said Hans Redeker, head of currency strategy at Morgan Stanley.

  11. E.On pays £3.1m for missed appointmentspublished at 10:18 British Summer Time 22 September 2016

    E.ON has paid £1.2m to customers for missed appointmentsImage source, Getty Images

    Angry customers who waited-in for energy supplier E.On are to receive some recompense.

    The company has paid £3.1m after admitting to Ofgem, the energy watchdog, that its agents missed 35,000 appointments between 2011 and 2015.

    E.On came forward to Ofgem and has paid out £1.2m to fuming householders and £1.9m to energy charities.

    Under Ofgem rules, if an appointment is missed, customers should receive £20 to £22. Because that wasn't paid immediately, those affected have received double, ie £40 to £44.

  12. Bank appraises Help to Buy mortgagespublished at 10:05

    Sold with Help to Buy signImage source, Getty Images

    The Bank of England says the use of one part of Help to Buy - the mortgage guarantee scheme - has "declined significantly" over the past year.

    In the first three months of 2016, the scheme made up only 3% of total mortgage lending for house purchases, the Bank's Financial Policy Committee says.

    In a letter to Chancellor Philip Hammond, it adds: "Given the decreasing usage of the scheme over time, the committee judges that the closure of the scheme would be unlikely, in current market conditions, to affect significantly the provision of finance to prospective mortgagors."

  13. What next for Help to Buy?published at 09:54 British Summer Time 22 September 2016

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  14. Markets buoyed by Fed's 'hawkish hold'published at 09:52 British Summer Time 22 September 2016

    TradersImage source, EPA

    Analysts said the markets are looking chipper after the US Fed's decision to hold interest rates - but possibly raise them by the end of the year.

    The good feeling from Wall Street - where the Dow Jones rose to a 10-day high - has spread to the FTSE as well as Asian and Eurozone indices, said Connor Campbell, financial analyst at Spreadex.

    He added: "Despite there being enough to suggest a rate hike in November or, even more likely, December, the markets were buoyed by the simple fact that the Federal Reserve opted for inaction yesterday evening."

    Mitul Patel, head of interest rates at Henderson Global Investors, said the US Fed is expected to increase rates once this year, twice in 2017 and three times in 2018. 

    But he said: "...with political risks building into the election, and the economy still relatively fragile, the Fed is likely to remain cautious and will be unwilling to hike rates unless the case to do so is compelling."

  15. Punny businesspublished at 09:44 British Summer Time 22 September 2016

    Spex pistolsImage source, Google

    Your favourite punny business names have been flying in - thanks for humouring us. 

    Some of the best include Stansted Hairport, Spex Pistols, and the German florist, Blumen Ecke.

    But our favourite so far is the local lady who does in-home ironing and washing under the trading name, The Iron Maiden.

    In case you're wondering what's inspired this, it's the sale of the Bristol fishing shop Fantackletastic to Aim-listed Fishing Republic. 

    Keep the puns rolling in to bizlivepage@bbc.co.uk, please!

  16. Trade ministers to tackle TTIP in talkspublished at 09:39 British Summer Time 22 September 2016

    Protesters have spoken out against the Transatlantic Trade and Investment PartnershipImage source, Getty Images

    The endlessly controversial Transatlantic Trade and Investment Partnership (TTIP) will be the focus of talks in Bratislava on Thursday.

    EU trade ministers will discuss the proposed agreement though it is unlikely that any deal will be reached before US President Obama leaves office.

    The objective of the proposed deal is to remove or reduce barriers to commerce between the US and the EU. However, three years on from when discussions began, an agreement looks no closer.  

  17. Slowdown ahead?published at 09:24

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  18. Philanthropists share their bountiespublished at 09:15 British Summer Time 22 September 2016

    Oxfam says the richest 85 people on the planet have the same wealth as the poorest 50%.Image source, Getty Images

    More on the $3bn pledge form Mark Zuckerburg and his wife, Dr Priscilla Chan, to tackle disease by 2100.

    Sonu Shivdasani, the founder and chief executive of luxury travel group Soneva, reminded Business Live on the BBC News channel of a startling statistic by Oxfam.

    According to the charity, the richest 85 people on the planet have the same wealth as the poorest 50%. 

    A viewer also suggested that businesses should just pay their tax to governments instead of these philanthropic gestures. 

    Facebook faced much criticism when it was revealed that it paid just £4,327 in corporate tax in the UK in 2014.

  19. The logic in Apple buying McLarenpublished at 09:06

    McLaren motor carImage source, Getty Images

    There are several compelling reasons to take seriously the reports of Apple's talks with Formula One team owner McLaren, says BBC North America tech reporter Dave Lee.

    For starters, we've known for a while now that Apple is working on car technology, he says.

    We know the company is investing big in external talent, including $1bn in Chinese ride-sharing service Didi Chuxing.

    Also some are seeing McLaren's carefully worded denial as a nod that at least preliminary, informal discussions had taken place. 

    And the source, the Financial Times, is not known for being rash in these matters - it was the FT, remember, that had the scoop on Apple's last enormous acquisition: the $3bn deal for Dr Dre's Beats headphone company.

    To read Dave's blog click here. 

  20. Lloyd's staff 'may end up moving'published at 08:55

    Today Programme
    BBC Radio 4

    Inga BealeImage source, Getty Images

    Inga Beale, the boss of insurance marketplace Lloyd's of London, says some of its staff may end up doing their jobs in other parts of Europe as a result of Brexit.

    The company doesn't know yet how many it'll be (it partly depends on the outcome of the Brexit negotiations).

    But it does estimate it'll lose 4% of revenues if the UK loses EU passporting rights - which allow companies to trade across the bloc without separate licences.

    Ms Beale says Lloyd's is looking at two options to ensure it can trade across the EU: setting up a subsidiary in an EU country; or branch offices in each one of the 27 countries.