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On Thursday, Dyson's very first cohort of 33 undergraduates begin studying for an four-year-long engineering degree based at the Dyson Institute of Engineering and Technology.

Sir James Dyson says the students are paid by Dyson and will receive at least 40 days more academic time than at university, as well as access to "some of the best scientists and engineers in the world".

He told the Today programme: "We need hundreds of thousands more engineers every year.

"We increase our engineering workforce by about 30% every year. What we hope to do with this course is create very high standard and highly qualified engineers."

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Despite falling interim sales and profits, Next's shares led the FTSE 100 risers.

Its share price is up 7.9% at £47.69 after the retailer a good start to trade in the second half and "modestly" upgraded its sales and profit guidance for the full year.

Doorstep lender Provident Financial, which is soon to fall out of the FTSE 100, is Thursday's biggest faller. Its share price is down 5.3% at 801p.

The FTSE 100 is trading down 14.72 points at 7,364.98.

Even rocket scientists get things wrong, as this blooper reel from Space X shows. To its credit the company has put together a video of failed rocket missions. Be sure to read the accompanying text.

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When the Bank of England announces its interest rate decision, it will also publish the minutes from the two-day Monetary Policy Committee meeting.

The question is, who will vote for a rate rise?

Former MPC member and senior economic adviser at PwC Andrew Sentance says: "There have been a couple of new members on the committee...but it's not clear that these personalities will shift the balance. Often when new people do join the committee they delve in and follow the consensus.

"So it will be the role of the senior members...who've been on there for some time that will shape the decision."

He adds: "There are a couple of members who have voted for the interest rate rise and I think there are one or two who will follow, but I still think there will be quite a significant majority for keeping interest rates on hold for the moment."

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Drilling down into Next's interim results, the company's directory business, which includes its catalogue and online divisions, was the stronger performer.

Its sales rose by 5.7% to £868.4m. In contrast its stores reported revenue down 8.3% at £993.2m.

However, Next says that it expects its retail business to generate sales of over £1bn in the future despite the downward trend in consumer spending.

In a move to boost sales and rental income, Next says it is experimenting by opening concessions at its newly refitted store at the Arndale Centre in Manchester including a hair salon, a prosecco bars and a restaurant.

The FTSE 100 has opened 7.93 points lower at 7,371.77.

The FTSE 250 is off 15.37 points at 19,574.60.

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John Lewis chairman Sir Charlie Mayfield says that Brexit is having an effect on the economy.

He tells the BBC's Today programme: "It is the same for everybody and the main effects are sterling and confidence. Uncertainty is one of the consequences of this and of course businesses never like uncertainty because it makes it hard to plan for the future."

He says: "I think we need to do justice to that uncertainty and there needs to be a serious parliamentary debate to figure out what kind of Brexit we're going to have in the best interests of the economy and the country."

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How long can the John Lewis Partnership continue to absorb the rising cost of products before passing it onto customers?

Chairman Sir Charles Mayfield tells BBC Today that the company's cash position is "very strong" and has improved in the first half.

He says that that instead of "hunkering down" in a difficult market, the partnership has pressed on with investing in the business.

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Sir Charlie Mayfield, chairman of the John Lewis Partnership, says that the reason why its profits have fallen is because its costs are rising, which it is subsuming instead of raising retail prices for shoppers.

He told the Today programme: "Nobody should be surprised that this is a tough market for retailers and there is any number of reasons for that and the reason our profits are down is predominately because of margin and cost prices are rising. It's a very competitive market.

"We are choosing to take quite a lot of that on and therefore that's good for customers."

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Next has reported a 9.5% fall in pre-tax profit to £309.4m for the six months to 29 July.

The fashion chain also said that total sales dropped by 2.2% to £1.9bn.

Next chief executive Lord Wolfson said that while the first half of the year had been "difficult" sales and profits were in line with "cautious expectations".

He said: "Our performance in the last three months has been encouraging on a number of fronts and whilst the retail environment remains tough, our prospects going forward appear somewhat less challenging than they did six months ago.

"As a result, we are taking the opportunity to modestly upgrade our sales and profit guidance for the full year."

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Wm Morrisons reported a 3% rise in like-for-like sales for the six months to July.

The UK's fourth largest supermarket chain said that total interim turnover grew by 4.8% to £8.42bn while pre-tax profit soared to £200m from £143m in the same six months last year.

Chairman Andrew Higginson said: "This is another good performance from Morrisons. Our seventh consecutive quarter of positive like for like means that we are able to report profit growth on growth for the first time in the turnaround."

The John Lewis Partnership has reported a fall in interim pre-tax profits to £26.6m from £56.9m.

Total sales for the business which owns John Lewis and Waitrose rose to £5.3bn from a previous £5.2bn.

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BBC Radio 4

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Andrew Sentance, a former member of the Bank of England's Monetary Policy Committee (MPC), does not think it will raise the interest rate today - but says it should.

Mr Sentance, now senior economic adviser at accountancy firm PwC, tells BBC Today: "I think for some time there's been quite a lot of evidence that there is a case for increasing interest rates, and I know people have commented on some aspects that point against that, such as that wage growth is fairly subdued."

He adds: "The job of the MPC is to look at the whole picture, and I think the whole picture has been pointing towards raising interest rates for some time, given that unemployment is at low record levels, inflation is quite a bit above the target, and also consumer debt is growing quite rapidly."

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Volkswagen and its Chinese joint venture partners will recall 4.86m vehicles due to safety issues with airbags supplied by Takata.

China’s quality watchdog made the announcement on Thursday.

The recall, which begins in March 2018, concerns cars from VW China, FAW-Volkswagen and SAIC Volkswagen.

Airbags made by the bankrupt auto parts maker have been linked to at least 16 deaths and 180 injuries worldwide.

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The new polymer £10 note featuring novelist Jane Austen has entered circulation, featuring her portrait and a quotation from her best known work, Pride and Prejudice, which says: "I declare after all there is no enjoyment like reading."

Jane Austen's appearance on the note is largely down to the tireless work of writer and activist Caroline Criado-Perez who received vile abuse and death threats on Twitter because of the campaign.

The abuse resulted in two people being sentenced to prison for sending the messages.

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With inflation at 2.9%, should the Bank of England raise the interest rate?

Mike Bell, global market strategist at JP Morgan Asset Management thinks not.

He tells Wake Up to Money that while employment is up, manufacturing activity is buoyant and businesses are investing, consumer confidence is lower because inflation is putting pressure on wages.

"Absent wage acceleration, I think it is too early to put rates up," he says.

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On 14 September 2007, Northern Rock sought - and received - support from the Bank of England, sparking the first run on a British lender in more than a century.

We take a look at what has happened since the bank collapsed.

Welcome to Business Live on what promises to be a busy Thursday.

At noon today the Bank of England will announce its latest interest rate decision.

The Monetary Policy Committee is not expected to raise the rate from its historic low of 0.25% but the question which members will back an increase? In August, Michael Saunders and Ian McCafferty voted for a rise.

Will these hawks be joined by another member this month?

Before that, retailers Wm Morrison, Next and the John Lewis Partnership will all announce their interim results this morning.