Image source, Getty Images

Car maker Ford said it will no longer build its next generation Focus in Mexico, instead the car will be built and exported to the US from China.

The current Focus will stop being made in Michigan later next year, although the plant will build trucks instead.

Earlier this year, Ford cancelled plans for a new $1.8bn small-car plant in San Luis Potosi, Mexico, and said it would build the new Focus instead at an existing plant in Hermosillo, Mexico.

But that has now been scrapped, with Chongqing, China preferred – saving $500m in costs.

Donald Trump has been encouraging companies to stop using Mexican factories to produce US goods. Although, he may be disappointed that the Focus production won't move to America.

US markets have all opened down today thanks to oil prices falling 2.5% to seven month lows.

The Dow Jones Industrial Average fell 19.59 points, or 0.1%, to 21,509.4

The S&P 500 lost 5.35 points, or 0.2% to 2,448.11

The Nasdaq dropped 8.06 points, or 0.13%, to 6,230.95.

Here's how oil is looking...

Image source, Getty Images

The long attempted takeover saga of Sky by Rupert Murdoch's 21st Century Fox took a step closer to be resolved today.

Culture secretary Karen Bradley said, external she had received reports from the Competition and Markets Authority and Ofcom, including its “fit and proper” assessment of the suitors and will make her decision in Parliament next Thursday.

Ofcom has also completed and handed over its views on “the need for there to be a plurality of persons controlling media enterprises” and “for those carrying on or in control of such enterprises to have a genuine commitment to the attainment of broadcasting standards objectives.”

The reports, which will be published online for outside scrutiny in nine days, was supposed to be submitted on 21st April, but was delayed until today due to the general election.

Chris Johnston
Business reporter, BBC News

The Paris air show - the world’s biggest aerospace trade show – is taking place at the Le Bourget airfield near Charles de Gaulle airport this week. It is held every other year, alternating with the Farnborough air show, and is a vast affair, requiring very comfortable shoes – particularly given that the temperature is well over 30C here.

The giants of commercial aviation occupy the most space. Airbus, on home turf, has various models including the striking but troubled A400M military transporter on display, alongside a tweaked A380. The superjumbo has had wingtips fitted, among other more cosmetic changes, in a bid to revive airlines’ almost non-existent interest in the giant plane.

Boeing, meanwhile, has a 787 Dreamliner and a 737 Max 9 on show. The US company has announced an even bigger version of the short-haul workhorse, although at just 66 inches longer most would be hard pressed to tell the difference between it and the new 737 Max 10.

Image source, AFP

More fallout from the SFO's decision to charge ex-Barclays executives today.

John Varley, former Barclays chief executive and one of those charged with fraud, has stepped down from the board of mining giant Rio Tinto with immediate effect.

The company's chairman Jan du Plessis said: "I am very grateful for John's outstanding contribution over the five or so years he has been on the board.

"The board holds him in the highest regard and will miss his valuable insight. Personally, I am not only losing a senior independent director, but a close colleague, whose wisdom and support I am going to miss tremendously.

"On behalf of the board I wish John the very best for the future".

No comment from Varley.

South Korean web-hosting firm Nayana has agreed to pay a $1m ransom to unlock computers frozen by hackers.

It is believed to be a record amount, although it is worth noting that many ransom payments are never made public.

Nayana's chief executive revealed that the hackers initially asked for $4.4m, payable in bitcoin.

Security experts warned that firms should not pay such ransoms or enter into negotiations with hackers. Read more here

And if we check on sterling - it's still trading lower following those comments by Bank of England boss Mark Carney, in which he said now was not the right time to raise UK interest rates.

It's down by about half a per cent at $1.2667.

Let's get a quick update on the FTSE 100 - and it's currently at 7,513.43, a fall of 10 points or 0.14%.

Bank of England governor Mark Carney's speech caused sterling to fall and that drove the FTSE 100 higher, on the grounds that companies in the index, which make a lot of their profits abroad, benefit from a weaker pound.

But as the graph above shows, the FTSE has since retreated from those gains.

Richard Boath, the ex-European head of financial institutions at Barclays, is one of those charged with conspiracy to commit fraud in a capital raising exercise during the 2008 financial crisis.

He has issued the following response.

Image source, Getty Images

Sterling had the "Mansion House blues" this Tuesday, says Spreadex financial analyst, Connor Campbell.

During his speech, Bank of England boss Mark Carney made it very clear that ‘now is not yet the time’ for a hike in interest rates.

According to Mr Campbell, the governor's stance was a "very public telling off for those three Monetary Policy Committee members – including the departing Kristen Forbes – who raised their hawkish hands in the June meeting".

But the governor's comments also had an immediate effect on the pound.

"With no chance of an increase in interest rates any time soon, and the continued political uncertainty – be that Brexit or the lack of stable government – in the background, investors saw little reason to prop up the pound. This meant it fell half a percent against the dollar and the euro, hitting one week lows against both," Mr Campbell said.

Ian Howells, senior vice president, Honda Motor Europe has told our Business Editor, Simon Jack that he'd like the UK to remain part of the Customs Union.

He's worried about the supply of parts from smaller firms who could be impacted by any change to our current arrangement.

Unlike Honda many of them don't have the backing of big administration and legal departments to work through any of the complex arrangements that could arise.

Image source, Getty Images

The technology industry would like everything you own to be connected to the internet: car, fridge, toaster - the lot.

However, it throws up some new problems. This piece tells the story of one driver who had a car which he could unlock and start with his smartphone.

But when he sold it, he was amazed to find that he could still control the car.

Read the piece by Matthew Wall here.

Image source, Transport Scotland

The delayed Queensferry Crossing over the Firth of Forth will open to traffic on 30 August.

The huge infrastructure project began in 2011 and was originally due to open last December.

Following the official opening, the £1.35bn bridge, which links Edinburgh and Fife, will then close temporarily to give the public a "once in a lifetime" chance to walk over it on 2 and 3 September.

Read more here

Image source, Getty Images

"The economy... is slowing down from the surprisingly elevated rates we saw a year ago, and it will be good fortune if the UK can keep the economy growing at just 1%," writes respected economist George Magnus in Prospect Magazine, external.

"We should not forget that a deterioration in the economy is highly likely to be exacerbated by the Brexit process starting now," his article says.

Mr Magnus says the Bank of England is right to keep interest rates on hold, despite rising inflation.

Simon Atkinson
Asia Business Reporter

Image source, Reuters

Has a corner been turned at consumer electronics firm Sharp?

Once weighed down by debt, it was bought by Taiwan's Foxconn last year.

And on Tuesday shares leapt 7.7% on news it plans to apply to be once again listed among Japan's most prestigious stocks - in the first section of the Tokyo Stock Exchange.

Meanwhile the country's benchmark Nikkei 225 had another good day - adding 0.8% to end at 20,230.41 points, its highest finish since August 2015.

Retail analyst Nick Bubb tweets:

We might have to wait until 2019 for an interest rate increase in the UK, says Howard Archer, chief economic advisor to the EY ITEM Club (a respected economic forecaster).

“The [Bank of England] Governor is particularly cautious over UK growth prospects as Brexit negotiations get underway. In addition, he appears to be in “wait and see” mode indicating that he wants to see the extent to which other elements of demand offset weaker consumer spending over the coming months, and whether wages start to firm up."

“We maintain the view that the Bank of England will hold off from raising interest rates in 2017. A tightening in 2018 also looks highly questionable given the cloudy outlook.”

BBC online personal finance Brian Milligan reporter tweets:

The pound has recovered a little from the dive it took after comments from Bank of England governor Mark Carney earlier.

A short while ago it was trading close to $1.27.

It's still down half a cent from where it was before he started speaking.

However the pound has been trading in a range between $1.26 and $1.28 since mid-April.

Neil Wilson at ETX Capital says that is likely to be the case "until we get a clearer steer on what sort of trading arrangement Britain and the EU is to strike. That could be a long time coming".

Chris Johnston
Business reporter, BBC News

You might recall yesterday Business Live brought you the news that Boeing chief executive Dennis Muilenburg thinks the aerospace and defence company has "a seat at the table" now that Donald Trump is in the White House.

Funnily enough the very same phrase was used today by John Harris, chief executive of Raytheon International, one of the biggest missile and radar systems makers in the US, when speaking to the BBC at the Paris air show.

He politely describes President Trump's methods as a "fresh approach to doing business". But given Mr Trump's desire to substantially increase defence spending, perhaps it is no surprise that companies like Raytheon aren't complaining about the administration - not yet at least.