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An announcement by the White House today will pull global trade squarely back in view as President Trump decides whether to levy trade tariffs on $50bn of Chinese imports.

Will this rattle investors?

Jasper Lawler of LCG Research says: "While Asian markets are trading higher, US futures have dipped marginally. The markets’ are relatively sanguine moving towards the announcement, suggesting that the traders still do not believe that this will turn into a serious trade war.

Alternatively he says the story may have "come around so many times over the past few weeks that they have simply moved on".

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The prospect of a global trade could escalate today with the US expected to announce a list of possible tariffs on imports from China.

But even the threat of a trade war is having a damaging effect, says Jinny Yan, an economist at ICBC Standard Bank.

"Traders are starting to front-load a lot of the orders because of increasing uncertainty," she tells Today.

China was central to the stabilisation of the global economy after the financial meltdown. "All of that is likely to deteriorate if we continue to have these disputes."

And, she adds, it will be global supply chain economies that are worst hit - such as South Korea and Taiwan.

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Tesco also has its AGM later and some investors are likely to vote against boss Dave Lewis's pay packet.

He took home almost £5m last year, which some have called excessive. But Derya Yildiz of Kantar Consulting says there's a case to say he was worth it.

She told the Today Programme: "If you are looking at it on the basis of one year's performance, that might be a discussion [to have].

"But as a CEO he promised to turnaround the business, and he would argue that he did this and signed off one of [the sector's] biggest deals with Booker, although this is yet to be proved."

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Dave Lewis, Tesco's chief executive, said: "Our growth plans are on track and we are pleased with the momentum in the business."

The firm grew more slowly than the previous quarter but still faster than expected.

It's a far cry from a few years ago, when the firm was still mired in losses from an accounting scandal and overambitious expansion.

During the first quarter Tesco said its online grocery shopping business performed performed strongly, along with clothing sales.

Like-for-like sales at Booker Group, the wholesaler it acquired earlier this year, rose by 14.3% while Tesco Bank sales were up 7%.

However, Asia like-for-like sales were down 9%.

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Britain's biggest supermarket has posted another quarter of growth with group sales up 1.8% in the 13 weeks to 26 May and UK sales up 2.1%.

Tesco, which is in the midst of a major turnaround, said it was its tenth consecutive quarter of expansion.

The euro is on track for its worst weekly loss in 19 months after the European Central Bank said it will keep interest rates at zero until "at least next summer".

The currency slumped by almost 1.9% on Thursday following the announcement - its largest one-day fall since the Brexit vote.

It is flat this morning at $1.1565.

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European Central Bank boss Mario Draghi (above) has signalled the end of the years-long stimulus programme to revive the eurozone. Some €2.4tn has been pumped into the bloc, but that's all coming to end over the next few months.

Sophie Kilvert, of Seven Investment Management, says it makes sense to return to normality. But she points out that there are still risks on the horizon - trade wars, rising oil prices, and political turmoil.

But, she says, if there is a sudden economic shock, at least the ECB has room for manoeuvre - it could be re-started.

"The measures that were taken by central banks were necessary. It's taken longer than anyone thought to get back to a sense of normality - and we're not really there yet," she says.

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Theresa May is to have dinner with the bosses of some of Europe's biggest banks, who want to know why they should remain in the UK after Brexit.

The dinner is being held near the Houses of Parliament and will be hosted by Barclays' chairman John McFarlane.

Members of the European Financial Services Round Table will attend, including the likes of Deutsche Bank, Societe Generale and Aviva.

"We are expecting her to make a statement about why we should stay here," one executive who will be attending told Reuters.

"We need clarity, they are not thinking enough about the sector and we need to change that."

The British government had hoped to put in place a "mutual recognition" blueprint that would ensure banks two-way market access between the UK and EU.

However scepticism from Brussels has led financiers to lose confidence in the plan being feasible.

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McDonald's will replace plastic straws with paper ones in all its UK and Ireland restaurants, starting from September.

The fast food giant is the latest company to opt out of the single-use plastic, which can take hundreds of years to decompose if not recycled.

The restaurant chain uses 1.8 million straws a day in the UK.

"Reflecting the broader public debate, our customers told us they wanted to see a move on straws," the firm said.

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Yesterday Rolls Royce said it would lay off 4,600 workers, many in its home town of Derby.

Andrew Mair of the Midlands Aerospace Alliance says many of the jobs to go are in middle management and removing some "layers of bureaucracy" will be beneficial.

"These cuts are about making Rolls Royce a more agile company... and therefore a more efficient company in the global economy."

He doesn't fear a wider knock-on effect on the wider Midlands region, whose economy is growing.

He adds that business at Rolls Royce is growing, making factory floor job losses unlikely.

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Boris Becker has claimed diplomatic immunity from bankruptcy proceedings - citing his role as a sports attache to the Central African Republic.

The three-time Wimbledon champion was appointed to the role in April and lawyers for the 50-year-old German have lodged a claim asserting immunity in London's High Court.

His position as attache to the European Union on sporting, cultural and humanitarian affairs is covered by the 1961 Vienna Convention on Diplomatic Relations.

It means Becker cannot be subjected to any legal proceedings without the consent of Foreign Secretary Boris Johnson and his counterpart in Bangui, lawyers Sylvester Amiel Lewin and Horne said.

Becker was declared bankrupt last year. The bankruptcy application was made by private bankers Arbuthnot Latham & Co in connection with a judgement debt owed to them.

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In the last few hours, US telecoms giant AT&T has finally completed its takeover of entertainment firm Time Warner - after winning a court battle earlier this week.

The more than $80bn (£60.34bn) deal, which has been two years in the making, led to one of the largest US anti-trust lawsuits in decades.

But a US district court judge cleared the marriage of the two giants on Tuesday without conditions.

The merger could shake up the US media scene for years to come.

The Trump administration's argument was that the marriage between the two firms would harm consumers.

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Yesterday the ECB announced it would end its massive quantitative easing programme in December but also said it would keep rates on hold until "at least" summer 2019.

Sophie Kilvert, of Seven Investment Management told Radio 5 Live: "it shows us Europe is on the slow track to getting better.

"But also they have to go through this process of normalisation at some point, not least because they need ammunition in case something else happens in the future."

Here are the worst offenders. NB, some banks own multiple brands - for example, RBS owns Natwest and Ulster Bank along with its own-name branches.

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About 60 bank branches are closing every month with RBS shutting the most, consumer group Which? has warned.

It found that 2,868 branches will have closed between 2015 and the end of 2018, with the number accelerating this year.

It called the trend "alarming" and said many people were left without proper access to services.

But banks said their branches were losing customers as more people banked online.

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Good morning and welcome to Business Live.

Coming up, Tesco will publish its first quarter results at 7am and markets will be paying close attention to whether the supermarket's turnaround is still on track.

The US will announce the final list of goods imported from China on which it will impose 25% tariffs following a trade investigation.

And research from Which? shows UK bank branches are closing at a rate of 60 a month. Have you struggled to access banking services where you live? Let us know at bizlivepage@bbc.co.uk