Dollar falls to seven week low against basket of currencies
FTSE closes down as pound strengthens
PM unveils plans for UK industry
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Quote MessageSmall businesses will be especially pleased to see the promise to boost technical education as an attractive alternative to university, and a proper strategy to improve careers advice in schools and colleges. These meet a challenge long felt by small employers who struggle to find the right skills for their workforce.
Mike Cherry, National chairman, Federation of Small Businesses
Image source, Getty ImagesThe FTSE 100 closed at 7,151.18, that's a fall of 47 points or 0.66%.
It fell as the pound rose - Sterling's up by 0.94% at $1.2492.
As we reported earlier, the pound is rising partly because traders reckon the the Supreme Court will rule on Tuesday that the government needs Parliament's approval to trigger formal Brexit talks.
Earlier in the day the pound hit a one month high against the dollar.
The FTSE 100 tends to fall as sterling climbs because so many of the companies on the index are exporters and a higher pound makes their goods more expensive.
Image source, Getty ImagesUS media are reporting that President Donald Trump will sign an executive action later on Monday to withdraw from the 12-nation Trans-Pacific Partnership trade deal, which was the linchpin of Mr Obama's Asia policy.
Want to update yourself on exactly what the TPP is and why it matters?
Image source, Getty ImagesPresident Donald Trump also business leaders and journalists that: "We are going to be cutting taxes massively for both the middle class and for companies.
"And that’s massively. We’re trying to get it down to anywhere from 15 to 20%," he added.
Image source, reuQuote MessageThis isn’t about backing winners but creating the right conditions for the UK. As we leave the EU I’m ambitious about the opportunities that are available to us building the truly global Britain, but need to ensure that our economy works for everyone in every part of the country and this is about how we can create that environment, how can we build on the success that we already have in different parts of the UK and in different sectors and how can we encourage the growth of businesses in the UK to bring jobs in the UK, higher wages to the UK and higher skills
Theresa May, Prime Minister
Associate editor, Daily Telegraph tweets
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Good news and bad news for the world of hedge funds. The total value of the world's hedge funds has passed the $3 trillion mark, At the same time as withdrawals from hedge funds is at its highest level since the financial crash, $70 billion last year according to US investment bank JP Morgan.
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The World at One
BBC Radio 4
Nuclear Industry Association chair welcomes the idea of working closer with government
Image source, gettThe government's green paper, Building Our Industrial Strategy, external, has now been published.
It's a more interventionist approach to industrial strategy designed to boost the post-Brexit UK economy.
It says the aim "is to improve living standards and economic growth by increasing productivity and driving growth across the whole country".
The government says its a consultation and it's looking for responses by 17 April.
Quote MessageBusiness communities across the UK will be pleased to see that harnessing the potential of our cities, towns and counties lies at the heart of the government's approach to Industrial Strategy. There are dynamic business communities in every corner of the UK - and it is their future success that will make our country more competitive and more prosperous. Given the significant skills gaps that so many firms continue to face, the Industrial Strategy's strong emphasis on boosting technical and further education will be cheered by companies and business communities alike, whatever their location or sector.
Adam Marshall, Director general, British Chambers of Commerce
Lee Hopley chief economist at the manufacturers association EEF says "last week we had the 12 point Brexit plan, today’s modern industrial strategy green paper will set out ten pillars."
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BBC World Service
Image source, gettMore from BBC World Service - and President Trump has told a meeting of business leaders in Washington that he thinks he can cut US regulations governing companies by 75% or more.
At a breakfast meeting with about 10 senior executives at the White House, Mr Trump reiterated his pledge to impose a substantial border tax on foreign goods entering the country.
But he promised advantages for companies making their products in the US.
Mr Trump is reported to be about to sign an executive order stating that he intends to renegotiate the North American Free Trade Agreement.
Quote MessageThe publication of an industrial strategy is an important first step in achieving a strong, sustainable and world-class steel sector. We will continue to work with government to embed UK steel as a foundation industry, promote skills, productivity and local growth, deliver cost competitiveness and world-class innovation, focus on long-term investment and continue the drive for decarbonisation.
Gareth Stace, Director, UK Steel
Image source, gettThe three key US share indexes were down in early trade on Monday.
They were hit by investors snapping up safe-haven assets such as gold and US Treasuries following President Donald Trump's inauguration speech in which he expressed protectionist sentiments.
The Dow Jones was at 19,806.61, a fall of 20.64 points or 0.10%.
The S&P 500 was at 2,268.29, down 3.02 points or o.13%.
and the Nasdaq was at 5,552.18, that's down 3.16 points or 0.06%.
BBC World Service
Image source, Getty ImagesThe makers of Japan's first commercial airliner for more than half a century have announced a further delay in its delivery, reports BBC World Service.
Shunichi Miyanaga, president and CEO of Japan's Mitsubishi Heavy Industries [pictured] said it needed another two years to make adjustments to the design of its Regional Jet, or MRJ.
A company spokesman said the changes were to meet new, stricter safety standards. It's the fifth postponement since the programme started in 2008 and means the first customer - Japan's ANA Holdings - will not receive the aircraft until mid-2020.
Image source, Getty ImagesThe international energy market is not expected to reach "an inflection point" until the second half of this year, according the US oilfield services giant Halliburton.
The company said that while the North America market - where it returned to profitability in the first quarter - "appears to have rounded the corner" the "international downward cycle is still playing out".
Halliburton reported results for the fourth quarter and full year. Losses in the final three months of last year deepened from a previous $28m to $149m. For the full year, losses swelled from $165m to $6.8bn.
A little over a year ago Brent crude traded as low as $27 a barrel but today is priced at $55.
Halliburton's chairman and chief executive Dave Lesar: "We do not expect to see an inflection in the international markets until the latter half of 2017."
Image source, Getty ImagesQuote MessageSterling advanced to five-week highs just under $1.25 against the US dollar today. The dollar has come under selling pressure after Donald Trump’s inauguration speech on Friday gave little away on his intended fiscal stimulus measures, concentrating instead on his protectionist trade agenda with a pledge to put American interests first. More widely, the pound is higher against all of its major peers this morning amid speculation a Supreme Court ruling tomorrow will uphold a High Court judgment that the government needs parliamentary approval before triggering Article 50 to start formal EU divorce proceedings. The pound is up 0.20% versus the euro at close to the €1.16 mark by noon.”
Chris Saint, Senior analyst, Hargreaves Lansdown currency service
Milton Keynes at 50
Tim Harford presenter of More or Less extols the virtues of Milton Keynes.
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As part of the government's industrial strategy announcement, there's to be £556m for the Northern Powerhouse.
The move was welcomed by former chancellor George Osborne, the main cheerleader for the scheme.
But James Reed, political editor of the Yorkshire Post, points out the money has been announced before.
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Business Secretary Greg Clark says he wants to drive industrial growth across all parts of the country.
However, his opposite number at Labour, Clive Lewis, says the government's industrial strategy is "too little too late".
Greg Clark: Strategy will spread jobs