Summary

  • Dollar falls to seven week low against basket of currencies

  • FTSE closes down as pound strengthens

  • PM unveils plans for UK industry

  • Help for carmakers, pharma and 5G

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

Live Reporting

Karen Hoggan

  1. Samsung confirms Note 7 fire source

    BBC technology correspondent Rory Cellan-Jones tweets:

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  2. 'Pound needs to fall further'

    BBC Radio 5 live

    Pound and dollar notesGetty Images

    As well as the prime minister's industrial strategy - being unveiled this morning - UK manufacturing also needs the pound to drop further, says John Mills, founder of consumer goods business JML and a supporter of Brexit.

    "The exchange rate is still too high for most manufacturing industry to survive happily in the UK," he tells Wake Up to Money on Radio 5 live.

    If you get the pound down to where it's cheaper to manufacture in this country than abroad, there's no reason people wouldn't take advantage of that, he says.   

    A further fall in the pound, alongside an industrial strategy, and "then we've got a winning formula".

  3. Good morning

    Dan Macadam
    BBC business reporter

    Theresa May

    Prime Minister Theresa May kicks off the week by unveiling her plans for British industry post-Brexit. 

    Mrs May is holding her first regional cabinet meeting this morning in the north-west of England, where she will launch a new, more interventionist industrial strategy. 

    The plans will set out how the government can help businesses through trade deals, extra skills, regulatory change, and fresh funding. Among the sectors expected to receive support are smart energy, robotics, AI and 5G mobile.

    We will bring you all the latest on the strategy, plus all the latest news from the markets and the rest of the business world, as it comes in.