Summary

  • Get in touch: bizlivepage@bbc.co.uk

  • FTSE 100 scrapes another higher close

  • M&S beats Christmas sales forecast

  • Tesco hails 'strong progress'

  • Lloyds suffers online banking problems for a second day

  1. Fiat 'could be fined $4.4bn'published at 16:44 Greenwich Mean Time 12 January 2017

    Financial Times motor industry correspondent Peter Campbell tweets:

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  2. Another BA strikepublished at 16:38
    Breaking

    British Airways cabin crew will stage a 72-hour strike from 19 January in a dispute over pay, the Unite union announced. 

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  3. Fiat Chrysler 'got caught'published at 16:29

    Dodge RamImage source, Getty Images

    EPA official Cynthia Giles said: "Failing to disclose software that affects emissions in a vehicle's engine is a serious violation of the law, which can result in harmful pollution in the air we breathe."

    California Air Resource Board chair Mary Nichols said: "Once again, a major automaker made the business decision to skirt the rules and got caught." 

  4. 'Undisclosed software'published at 16:17

    The Environmental Protection Agency said the undisclosed software on the 2014 to 2016 models of Grand Cherokees and Dodge Ram 1500 trucks sold in the United States allowed the vehicles to emit more nitrogen oxides than permitted. 

    The company already is facing two class-action lawsuits over use of the defeat software. 

  5. 104,000 vehicles affectedpublished at 16:06

    The EPA says there was hidden software in 104,000 vehicles made by Fiat Chrysler. 

    "This is a clear and serious violation" of the US Clean Air Act, an official says. 

  6. Brexit speech 'on Tuesday'published at 15:48

    Theresa May will deliver a major speech on Brexit on Tuesday, the Press Association reports, citing a source in Downing Street.

    The prime minister responded to criticism of her government's approach towards Brexit, little of which has been made public, by saying on Sunday that she would set out her plans in the coming weeks. 

  7. Fiat Chrysler faces emissions cheating claimspublished at 15:37
    Breaking

    Jeep logoImage source, Getty Images

    Shares in Fiat Chrysler have tumbled more than 12% after Reuters reported that the US Environmental Protection Agency will accuse the company of using software that allowed excess diesel emissions in just over 100,000 U.S. trucks and SUVs sold since 2014.

    The EPA told the car maker it believes its undeclared emissions control software allowed vehicles to generate excess pollution in violation of the law. Fiat Chrysler declined to comment. 

    The agency has for months declined to certify Fiat Chrysler's 2017 diesel vehicles. 

    The move follows Volkswagen's admission that it cheated diesel emissions tests in 580,000 U.S. vehicles.

  8. FTSE wobblespublished at 15:25

    GSKImage source, Getty Images

    Neil Wilson of ETX Capital blames Donald Trump for the London market's struggles today.

    "The FTSE is close to snapping its record run of gains but a rally among mining stocks is offering support and it may just creep over the line higher. If it does it will be the miners that do the heavy lifting as retailers have failed to fire despite a round of broadly upbeat sales figures from the sector," he says. 

    "Pharma stocks like AstraZeneca and GlaxoSmithKline are still under pressure after Donald Trump’s remarks yesterday roiled the sector. A weak start to the US session has sent the UK blue chip index lower again."

  9. Even more Southern strikespublished at 15:12 Greenwich Mean Time 12 January 2017
    Breaking

    Guards on Southern Railway will hold a fresh 24-hour strike on 23 January in their long-running dispute over staffing, the RMT union said. 

    That's the day before drivers go on strike again in protest at driver-only trains.

  10. Trump Toronto tower on the blockpublished at 15:04

    Trump Tower TorontoImage source, The Canadian Press

    Trump International Hotel Tower in Toronto and apartments that carry the US President-elect's name are being put up for sale for about $300m. 

    The assets are being sold after being placed into receivership last year. The owner failed to make debt payments for more than a year.

    Mr Trump does not have a stake in the business. The owner, Talon International Development, paid to license his name.

    However, last year a group of small shareholders, who claim they were misled over investing in the project, won the right to sue Mr Trump as part of legal action.  

  11. Shop til you droppublished at 14:52

    BBC News Channel

    Shopping centre

    The BBC's business team is out and about at a shopping centre in Essex. We are speaking to retailers, analysts and shoppers about how the industry is faring. We've had a set of generally positive figures from a range of major retailers - but what does the rest of the year ahead have in store?

    Analysts at Hargreaves Lansdown say the first set of positive like-for-like sales in Marks & Spencer's Clothing and Home division for almost two years is the main headline for the high street stalwart. 

    "While last year’s frankly abysmal performance was hardly a tough benchmark to beat, investors will be hoping that Steve Rowe’s plans to revitalise the group gain some traction and this marks the start of a more positive trajectory."

    M&S shares are up a touch at 341p, by the way.

  12. Wall Street opens lowerpublished at 14:36
    Breaking

    US markets have opened lower after President-elect Donald Trump gave little clarity on his promises of boosting economic growth that had powered a record-breaking rally on Wall Street for two months. 

    The Dow Jones Industrial Average was down 61 points, or 0.3%, at 19,892 points, while the S&P 500 also fell 0.3% to 2,268 points. The Nasdaq Composite shed 0.4% to 5,539.5 points. 

  13. Amazon's hiring spreepublished at 14:27

    Amazon warehouseImage source, Getty Images

    Amazon plans to add 100,000 US jobs over the next 18 months, to bring its US workforce to more than 280,000. 

    "These new job opportunities are for people all across the country and with all types of experience, education and skill levels -- from engineers and software developers to those seeking entry-level positions and on-the-job training," the online retailer says.

    But would you really want to work in an Amazon warehouse?

  14. Deeper in debtpublished at 14:16

    Let's start as we mean to go on, shall we? Here's a slightly depressing graph, courtesy of the Resolution Foundation - everyone's new favourite thinktank.

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  15. Good afternoon!published at 14:05

    Chris Johnston
    Business reporter

    Thanks to Dearbail and Russell for keeping us up to date on what has been a very busy morning for the retailers. I'm here with the rest of the day's business news and views.

    Want to express a point of view? Drop me an email at bizlivepage@bbc.co.uk or follow me on Twitter: @cajuk, external

  16. Tata Group names new chairmanpublished at 13:52 Greenwich Mean Time 12 January 2017
    Breaking

    Natarajan ChandrasekaranImage source, Getty Images

    Tata Group has named Natarajan Chandrasekaran as its new chairman.

    He is currently the chief executive of IT service provider Tata Consultancy Services.

    He replaces Cyrus Mistry who was fired in October 2016.

  17. ECB minutes reveal dissent over stimuluspublished at 13:43 Greenwich Mean Time 12 January 2017

    European Central BankImage source, Getty Images

    A plan to increase the European Central Bank's (ECB) stimulus programme was met with dissent, according to minutes of its latest meeting, external

    In December, the ECB said it would continue its quantitative easing scheme until March this year. The, in April, it would reduce monthly bond purchases from €80bn to €60bn until December.

    Minutes from the ECB's governing council meeting show that some members rejected two options of either extending the money printing plan past December 2017 or limiting the period to six months at the lower €60bn monthly target.   

    The minutes said: "A few members could not support either of the two options that had been proposed, while welcoming the scaling-down of purchases and other elements of the proposals, in view of their well-known general scepticism regarding the APP [asset purchase programme] and public debt purchases in particular."

  18. RMT blames staff cuts for strikespublished at 13:26 Greenwich Mean Time 12 January 2017

    Tube strikeImage source, Getty Images

    The RMT says that its decision to announce another possible strike on 6 February "allows ample time for London Underground to come forward with serious proposals as a basis for further negotiation".

    Mick Cash, general secretary of the union, says: "RMT members have shown this week that they will not stand by while safety is compromised on London Underground off the back of cash-led cuts to staffing levels that the union has warned would have a serious, lasting and corrosive impact for staff and passengers alike.

    "That is why our members have been forced to take this action."

  19. Tube strike planned for 6 Februarypublished at 13:23 Greenwich Mean Time 12 January 2017

    Tube strikeImage source, Getty Images

    The RMT union says that following this month's "rock-solid strike action" taken by its London tube station members, "a new phase of action" is planned from 6 February.

    It says: "The union’s executive has agreed, following extensive consultation with reps across the tube network, that further, escalated strike action will be called from Monday, 6 February unless London Underground meet RMT’s reasonable demands on station staffing and safety."

  20. Savings erodedpublished at 13:12 Greenwich Mean Time 12 January 2017

    Sky's economics editor tweets:

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