Summary

  • Co-operative Bank puts itself up for sale

  • Baby Boom pensioners 'better off'

  • Pubs and restaurants warn of rate rise impact

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

  1. Ore and peacepublished at 16:11 Greenwich Mean Time 13 February 2017

    Iron oreImage source, Getty Images
    Image caption,

    Iron ore

    Top marks to Michael Hewson, chief market analyst at CMC Markets UK, who came up with that cracking headline to describe share trading on Monday.

    The FTSE 100 and FTSE 250 are bumping along nicely led by the miners who in turn are supported by stronger copper and iron ore prices. 

    We'll give you an update on prices when the markets close in 20 minutes.

    Sentiment has also been helped by US President Donald Trump's more emollient tone towards China and Japan. 

    This has helped US stocks also make a positive start to Monday trading, with the Dow Jones industrial average currently up 120.55 points at 20,389.92. 

  2. Germany and France 'must prosper'published at 15:49 Greenwich Mean Time 13 February 2017

    Angela Merkel (L) and Bernard Cazeneuve (R)Image source, Getty Images

    Europe can only be strong if Germany and France prosper, according to Chancellor Angela Merkel.

    In a meeting with French Prime Minister Bernard Cazeneuve on Monday, Mrs Merkel said: "We will exchange ideas about economic policy as Germany and France are intertwined together through close trade relations.

    "And Europe can only be strong when both countries are prosper economically."

    She added that she would discuss transatlantic relations with Mr Cazeneuve.

    US President Donald Trump has been highly critical of both Mrs Merkel over the refugee crisis and of Nato. He has also rounded on Germany's car industry and threatened high tariffs on vehicles sold to the US.

  3. The sausage of lovepublished at 15:35 Greenwich Mean Time 13 February 2017

    Peck from HeckImage source, Heck

    Nothing quite says "I love you" like raw meat.

    Thankfully, Yorkshire-based Heck has come up with a Valentine's Day present that your better half with never forget - a sausage in the shape of a love heart.

    Called "A Peck from Heck", this culinary delight also features a built-in Valentine's Day card so you can "eat and greet" the love of your life. 

    The BBC would love to hear from you if you receive this special gift. Did it cement your love? Or have you begun divorce proceedings?

    Let us know...

  4. Waitrose renames meals in lamb fracaspublished at 15:13 Greenwich Mean Time 13 February 2017

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  5. Oil demand solid for year aheadpublished at 15:03 Greenwich Mean Time 13 February 2017

    OilImage source, Getty Images

    More from Opec's monthly oil report.

    It expects demand for the black stuff to remain buoyant this year and increase by 1.19 million barrels per day.

    It cited factors such as strong global economic growth, demand from the road transport sector, and expectations for high vehicle sales in the US, Europe, China and India.

    The price of Brent oil fell 46 cents at $56.24 a barrel. US oil fell 41 cents at $53.45 a barrel.

  6. US stocks open aheadpublished at 14:47 Greenwich Mean Time 13 February 2017

    Stock market traderImage source, Getty Images

    US stocks soared at the opening bell on Monday, up 77.56 points at 20,346.93.

    Nasdaq, the technology heavy index, rose 27.45 points 5,761.58 and the S&P 500 rose 8.861 points to 2,324.62. 

  7. Trade at centre of Trump-Trudeau meetingpublished at 14:40 Greenwich Mean Time 13 February 2017

    US President Donald Trump will meet with Canada's Prime Minister Justin Trudeau on Monday. So what now for the North American Free Trade Agreement? 

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  8. Chinese steel output grows despite dumping pledgepublished at 14:32 Greenwich Mean Time 13 February 2017

    Chinese steel plantImage source, Getty Images

    China steel-making capacity continued to grow last year, despite repeated promises to cut excess production. 

    According to a report by steel consultancy Custeel and Greenpeace, China's operating steel-making capacity increased by 36.5 million tonnes in 2016. This, they said, is more than twice as much as the total production capacity of Britain.  

    While some capacity was cut, it was more than offset by new factories opening or idle plants being restarted.

    China has been accused of dumping its production on world markets, pushing down prices and violating international trade agreements.

    In January, the European Union unveiled taxes of between 30.7% and 64.9% on certain Chinese steel products to protect struggling local producers. 

  9. Fall in tourism hits Prada salespublished at 14:16 Greenwich Mean Time 13 February 2017

    ShoppersImage source, Getty Images

    Italian luxury fashion brand Prada says its sales slid last year due to a fall-off in tourism in key markets.

    For the 12 months to the end of January, the Hong Kong-listed business saw consolidated revenues slip by 9% at constant exchange rates to €3.18bn (£2.7bn).

    The company saw the biggest sales fall in Japan, down 13%, which it blamed on a "reduced flow of tourists from China" due in part to the appreciation of the yen.

    Fewer tourists visiting the US and Europe also dragged on growth, it said.

  10. Allergan plumps for body contouring in $2.47bn dealpublished at 14:03 Greenwich Mean Time 13 February 2017

    DietImage source, Getty Images

    Allergan, the very acquisitive maker of Botox, has added another company to its ever-expanding stable.

    This time it has bought Zeltiq Aesthetics, an American company which is in the delightful business of freezing human fat.

    Its star product is the CoolSculpting system which is "designed to selectively reduce stubborn fat bulges that may not respond to diet or exercise".  

    Allergan is paying $2.47bn (£1.97bn) for the company and it estimates that the "body contouring" industry is worth $4bn.

  11. US drilling holding back oil prices - Opecpublished at 13:42 Greenwich Mean Time 13 February 2017

    US oil workerImage source, Getty Images

    Renewed drilling by US oil producers is holding back efforts to revive global crude prices, Opec says.

    Members of the Organization of the Petroleum Exporting Countries (Opec) began curbing their production last month, in an effort to reverse two years of falling prices caused by oversupply.

    Oil prices climbed by 73 cents in January as a result, Opec said, but they would have risen further if US producers had not flocked back to the market attracted by the higher prices. 

    "Production adjustments by Opec and some non-Opec producers supported the market, although gains were capped by increased drilling activity in the US," it said in its latest oil market report.  

    The Opec cartel and some non-Opec countries agreed to reduce output by about 1.8 million barrels per day from January, however experts doubt this will reverse the declines seen since 2014.

  12. FTSE 250 hits fresh highpublished at 13:17 Greenwich Mean Time 13 February 2017

    Uk traderImage source, AFP

    Meanwhile, the FTSE 250 - which, unlike the 100 index, is formed of largely UK-focused companies - hit a fresh record high earlier.

    The UK share index climbed to 18,776 points around midday, before easing back slightly.

    Among the stocks leading the index higher were energy firm Evraz and trading software provider Fidessa, which said its annual results withstood the uncertainty following the Brexit vote and Donald Trump's election victory. 

  13. Why has the price of copper jumped?published at 13:06 Greenwich Mean Time 13 February 2017

    Grasberg mine, IndonesiaImage source, Getty Images

    As we mentioned earlier, the FTSE 100 climbed in morning trade after mining stocks were boosted by a jump in copper prices. It comes after issues at two of the world's biggest mines put pressure on supply. 

    Firstly, a strike which began last week at a Chilean copper mine, run by BHP Billiton, has disrupted shipments.

    And exports from the world's second-largest copper mine, Grasberg in Indonesia (pictured), have been suspended for a month due to regulatory issues. The mine is co-owned by FTSE giant Rio Tinto - whose shares are up 2%.

    On Friday the price of copper climbed more than 4.1% to above $6,000 a tonne - the highest level since June 2015 - before dropping back slightly today.  

  14. Last of the great Defenderspublished at 12:51 Greenwich Mean Time 13 February 2017

    Here's a flashback to 29 January, 2016 - the day when the last Land Rover Defender rolled off the production line. More than two million had been made since production started in Solihull in 1948. 

    In this clip, fans summed up their love for the off-road vehicle in one word... No doubt some of them will be excited by the news that a UK firm has plans afoot to produce a 4x4 in the spirit of the Defender.

    Media caption,

    In a word: Fans pay tribute to Land Rover Defender

  15. Goldfish bossespublished at 12:39 Greenwich Mean Time 13 February 2017

    Declan Collier, head of London City Airport, shares the business advice he wishes he had been given when he started out.  

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    Allow Twitter content?

    This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.

    The BBC is not responsible for the content of external sites.
    End of twitter post
  16. The Co-op Bank in numberspublished at 12:32 Greenwich Mean Time 13 February 2017

    Co-op BankImage source, Getty Images

    As we've been reporting this morning, the Co-op Bank has put itself up for sale after a tough few years.

    However, as these stats show some parts of the business are doing better than others. Between 2013 - when a £1.5bn hole in its accounts almost sunk the bank - and 2016:

    • Customers fell from 4.7 million in 2013 to 4.1 million in 2016
    • Branches fell from 294 to 105
    • Current accounts - 1.5 million then, 1.4 million in 2016
    • Mortgage borrowers - 175,000 up to 225,000. 
  17. Will the price of a pint go up?published at 12:23 Greenwich Mean Time 13 February 2017

    So, the obvious question with many pubs facing a rise in business rates is: Will the cost of a pint go up? 

    "Some will look at putting up prices but it's a highly competitive market out there and consumer confidence is still fragile," says Kate Nicholls of the Association of Licensed Multiple Retailers.

    More likely is that some pubs will hire less, delay refurbishments, or even close outlets, she tells the BBC.

  18. Why pubs and restaurants will be hit by rates risepublished at 12:16 Greenwich Mean Time 13 February 2017

    Man pulling pintImage source, Getty Images

    We reported earlier that pubs and restaurants could be among the worst affected by the recalculation of business rates this April. But why?

    Kate Nicholls, of the Association of Licensed Multiple Retailers, says business rates are based on the value of a business' trading premises, and that property's earning potential. 

    However, the system has not kept up with rise of e-commerce, which means firms can increase their profits without expanding their physical headquarters. Pubs and restaurants, of course, are "bricks and mortar" businesses that can't reap such benefits. 

    "What's happening now is there is a see-saw effect: the government has decided to reduce rate-able values for certain sectors and we are picking up the slack."

  19. Why did Dyson go for Singapore?published at 12:08 Greenwich Mean Time 13 February 2017

    Sir James DysonImage source, Getty Images

    Sir James Dyson, a prominent Brexit supporter, said his firm chose to open a dedicated research centre in Singapore - its first outside the UK - partly because there were far more engineers available to hire.

    "In Singapore 40% of all graduates are engineers and scientists. In England it’s 4%," he told BBC Asia business reporter Simon Atkinson.

  20. Dyson founder plays down US trade threatspublished at 11:57 Greenwich Mean Time 13 February 2017

    From one UK manufacturer to another...

    Simon Atkinson
    Asia Business Reporter

    Sir James Dyson (right) at launch of Dyson hairdryerImage source, Getty Images

    Dyson founder Sir James Dyson has told the BBC he would be "surprised" if the US administration made it harder for firms like his to sell into America.

    The US is a big market for the firm's vacuum cleaners, air purifiers and hairdryers - though they are all imported from its factories in Asia.

    President Donald Trump has been calling for more manufacturers to make things in the States - and threatened higher tariffs. 

    But speaking at the launch of Dyson's new research and development centre in Singapore, Sir James told me: "I believe in free trade. I would be surprised if the Americans put up barriers because they believe in free trade as well, so I very much hope they stick to that. 

    "There are inequalities in world trade, and I suspect the rhetoric is trying to deal with that. It's aimed more at that rather than America becoming protectionist."