A report out this morning from Samsung puts the blame for its exploding Note 7 smartphones on faulty batteries.

According to the findings, the batteries didn't have enough insulation material, and they didn't include space to safely accommodate the batteries' electrodes.

Radio 5 live business reporter Colletta Smith tweets:

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The pound is higher against the dollar this morning, partly on expectations among traders that the Supreme Court will rule on Tuesday that the government needs parliamentary approval to trigger formal Brexit talks. 

Sterling is up 0.4% against the dollar at $1.243, and 0.2% higher against the euro at €1.158.

The rise in the pound is weighing on the FTSE 100, which is down 61 points after the first hour at 7,137.

Insurance group Admiral led the fallers, down 2.6% at £16.88. The outsourcing company Capita was among the big winners, up 2.5% to 526.50p.

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Business Secretary Greg Clark is pushed on the Today programme on whether the government offered Nissan assurances on battery technology to persuade them to invest in its Sunderland plant.

Mr Clark won't be drawn on the Nissan deal, but says all car makers, and their suppliers, recognise that battery technology and storage are important to the future of the industry.

"We have fantastic researchers in this field. The whole industry is keen to capitalise on that research and turn it into development," he says.

The sector is included in the industrial strategy, and is one of the reasons Nissan is staying here, he adds.

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The boss of the London Metal Exchange (LME) is stepping down after three years in the job. 

Garry Jones is retiring from all his positions within Hong Kong Exchanges and Clearing, which owns the LME, with immediate effect. 

He will be replaced in the interim by Matthew Chamberlain, the LME's 34-year-old chief operating officer, until a permanent replacement is found.

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The business secretary says the City of London will be an important part of the UK economy post-Brexit, after HSBC and UBS last week spoke of moving hundreds of jobs out of the UK.

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The FTSE 100 has started the week on the back foot, falling 0.9% to 7,133 points in the first few minutes of trading.

It continues the losing streak for the UK blue chip index - which last week saw its biggest weekly loss since November.

"Sterling strength looks set to weigh on the FTSE," said ETX Capital analyst Neil Wilson. The pound surged towards $1.247 this morning - its highest level in over a month.

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Business Secretary Greg Clark says Brexit means the UK has to compete harder with countries around the world. 

While the UK has some of the best universities in the world, people have not had the alternative to learn practical skills.

"For many years, we have not been as good on technical education as our competitors," he tells BBC Breakfast.

The government is launching the industrial strategy green paper at a regional cabinet meeting in Warrington this morning.

Greg Hewitt, managing director at Rock Oil, a Warrington-based lubricant manufacturer, says better training is needed so workers can "start from day one rather than six months down the line".

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Donald Trump is looking "very seriously" at a free trade deal with Britain, says Stephen Moore an economist at the Heritage Foundation and an economic advisor to Donald Trump during the campaign.

He agrees that issues such as agriculture standards and tariffs on cars could be stumbling blocks.

"I think this can get done," he says. "Most Americans, and Brits too, would believe this would be a positive thing and raise living standards in both countries."

Simon Jack
BBC Business Editor

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The words "industrial strategy" send a chill through those industry veterans old enough to have been working in the 1970s. Millions were poured into firms like British Leyland and British Steel - all to no avail.

The government's record at picking winners or identifying "national champions" is pretty poor. Under Thatcher, the government tried to get out of the way. Regulation was reduced and unions were diminished in the hope that animal spirits of business ambition would lead to growth and prosperity.

It did - for some. Financial services, for example, underwent a revolution while primary industries like steel and coal declined.

If we have learnt anything about "Mayism" it's that she doesn't think the benefits of business success will percolate through the country without a bit of a push from government. 

Read more of Simon's blog here. 

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The sharp fall in the value of the pound will "crush" consumer spending, says Peter Spencer, chief economic adviser, at the EY ITEM Club, a respected forecasting group.

But will the weak pound boost exporting and help the economy? Mr Spencer thinks it will be "hard" for exports to pick up the slack.

He forecasts UK economic growth to slow to 1.3% this year.

But the real slowdown will come next year he says, with growth of about 1%.

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Louise Marston, Director of Innovation Policy and Futures, at NESTA, an independent charity which seeks to encourage innovation.

"It can be really helpful to customise the support to every sector," she says. 

For example, she says that for self-driving cars, its been important to have the right regulation in place to help the industry develop.

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Despite some shaky results at the end of last year, Paddy Power Betfair expects full-year profits to be in line with expectations.

The betting giant says, external that in the fourth quarter "results favoured customers".

The outcome of the US election cost the group almost £5m and football bets also cost it money in December.

Total sales for the quarter were still up 10% at £388m, but stripping out currency effects, growth was flat.

Andreas Illmer
Business reporter in Singapore

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When Xiaomi poached Google top exec Hugo Barra in 2013, it was a bit of a sensation. A Silicon Valley star heading to China to join a smartphone maker few had heard of and most had trouble pronouncing.

Mr Barra, vice president of International at Xiaomi, quickly became the international face of the brand, driving expansion in the markets outside of China, with a heavy focus on India and Southeast Asia. 

He announced his departure from the firm on Facebook, external citing health and family as reasons for his surprise decision. 

"I know I’ll be leaving them in very good hands," he writes in his post. "Xiaomi now has a strong, globally-minded executive team who will continue to drive the momentum we began together."  

He did not disclose his next professional destination though, merely stating that he's embarking on "a new adventure back in Silicon Valley."

While Xiaomi had seen stellar growth in previous years, sales figures had slumped in 2016 and the company was seen by some as losing its momentum in the face of new Chinese competition by the likes of fellow smartphone makers Oppo and Vivo. 

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John Moylan, the BBC's industry correspondent, says most of the money in today's industrial strategy has already been announced. 

The biggest chunk - £4.7bn for research and development - was first unveiled in November's Autumn Statement.  

But there's also £560m in extra funding for the Northern Powerhouse, and £170m in technical training for science, technology, engineering and maths, he tells Radio 5 live.

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Heathrow Airport, external is warning of disruption to flights this morning due to foggy conditions.

British Airways says it has "slightly" reduced its flight schedule for the morning. 

More information here., external

Sterling is up 0.5% against the dollar so far this morning, rising to $1.24360. It last hit that level after Theresa May's Brexit speech last Tuesday.

But it's more to do with dollar weakness than pound strength. Sterling is pretty much flat against the euro at €1.15730, whereas the US currency fell 1% against the yen in Asian trading.

"It's all related to the Trump trade," said Russ Mould, investment director at AJ Bell. "People are sitting, waiting, what is Trump going to achieve?"

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As Asian markets open for their first week with Donald Trump in the White House, the new US president's insistence on 'America first' during his inauguration has investors worried about possible trade spats between Washington and Asia. 

Japan's Nikkei 225 tumbled 1.3% with exporters additionally hit by a strengthening yen, making their goods more expensive on the global markets. Most of the big carmakers and electronics firms saw their stocks slide on Monday. 

Australia's ASX 200 was also pulled down by the muted investor sentiment and finished the day 0.8% down. South Korea's Kospi closed flat. 

Chinese markets are still trading with both Hong Kong's Hang Seng and the Shanghai Composite flat. 

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Could two of the UK's biggest builders merge? Over the weekend the Sunday Times reported that shareholders would like to see Bovis Homes and Berkeley Group get together.

"It's not impossible. Bovis's record is poor, Berkeley's is outstanding... but you've got to look at it from Berkeley's perspective, what would they get out of it? I guess some land plots is the most likely angle for them," said Russ Mould, investment director at AJ Bell.

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What does business want to see from the government's industrial strategy, which the Prime Minister will reveal later today.

"We would like to see some focus on broadband, some focus on education and training,"  said James Sproule, director of policy at the Institute of Directors.

In particular, Mr Sproule would like to see life-long learning, so people can move from declining sectors to growth areas of the economy.  

"Business wants to hear real clarity on what success looks like," said Lee Hopley chief economist EEF.

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In the 1970s, manufacturing accounted for a third of the UK economy. Now it's about 10%, JML founder John Mills says.

"We're not making enough to sell the rest of the world to pay our way," he tells Wake Up to Money. 

The British economy needs to get to at least 15% to help strengthen the economy, he argues. That's because the UK needs more "good blue-collar jobs", and it needs to boost productivity - which is easier to do in manufacturing than in services.