That's it from Business Live for today - thanks for reading.

We are back bright and early tomorrow at 6am so do join us then.

Jeremy Wright, external has been appointed Digital, Culture, Media and Sport Secretary, Downing Street said.

Image source, Getty Images

Wall Street ended the day higher, helped by banking, industrial and energy shares as investors looked ahead to a strong results season.

The Dow Jones Industrial Average rose 1.3%, the S&P 500 gained 0.9% and the Nasdaq Composite also added 0.9%.

Image source, Reuters

As we mentioned earlier, Jeremy Hunt has indeed been appointed as Foreign Secretary, replacing Boris Johnson.

Matt Hancock is the new Health and Social Care Secretary, Downing Street said tonight.

Kit Malthouse has become the new housing minister, by the way.

Shares in Twitter have ended the day more than 5% lower at $44.11 in New York after the Washington Post reported that the social media company suspended more than 70 million fake accounts in May and June.

However, CFO Ned Segal rejected - on Twitter of course - claims by analysts that the moves could affect its user growth:

Turkish president Recep Tayyip Erdogan has named his son-in-law Berat Albayrak as finance minister in his new cabinet.

In another key change, army chief of staff General Hulusi Akar joins the government as defence minister, while Mevlut Cavusoglu keeps the post of foreign minister.

Mr Erdogan pledged to build a "strong Turkey" with a powerful defence industry and expanding economy as he was sworn in on Monday with sweeping new powers.

BBC political correspondent Laura Kuenssberg tweets:

Image source, PA

Theresa May has told Boris Johnson she is "sorry - and a little surprised" that he had chosen to resign following their "productive discussions" at Chequers on Friday.

However, she said that if he was unable to support the government's agreed position "it is right that you step down".

"During the EU referendum campaign, collective responsibility on EU policy was temporarily suspended. As we developed our policy on Brexit, I have allowed Cabinet colleagues considerable latitude to express their views," the prime minister said.

"But the agreement we reached on Friday marks the point where that is no longer the case, and if you are not able to provide the support we need to secure this deal in the interests of the United Kingdom, it is right that you should step down."

Image source, Getty Images

Ratings agency Fitch expressed scepticism that Theresa May's Brexit plan will be accepted by the European Union or parliament, reiterating its negative outlook for the UK's credit score.

"The resignations of David Davis as Brexit secretary and Boris Johnson as foreign secretary highlight the domestic political challenge the UK government faces in building support for its Brexit plan or any other model," Fitch said.

It also said it was unclear whether May's plan would be acceptable to EU negotiators in its current form: "The political, economic and institutional uncertainty stemming from the UK-EU negotiations is reflected in the negative outlook on the UK's 'AA' sovereign rating."

A disruptive "no deal" Brexit was also possible, but this was not its base case, Fitch added.

Image source, Getty Images

If you were looking forward to extra services and capacity on the railways by the end of the year, think again.

Changes to timetables due to be made in December by CrossCountry, Govia Thameslink Railway, Great Western Railway, London Overground, Northern, South Western Railway, TransPennine Express and West Midlands Trains have been postponed following the chaos sparked by schedule alterations in late May.

A "more cautious approach" will be taken to ensure passengers can "plan their journeys with confidence", industry body the Rail Delivery Group said.

The government has "accepted the rail industry's recommended approach", the group added.

The announcement means returning to confirming timetables 12 weeks ahead will take longer than planned, and is now not expected to happen until May next year.

Image source, Getty Images

Fox is preparing a new bid for Sky that values it at about £25bn and tops the offer made by Comcast, the Financial Times is reporting, external.

Fox's offer is expected to be at a premium of Comcast's £12.50 a share offer, the FT said, citing two people briefed on the matter.

Rupert Murdoch's company could make a new offer as soon as this week if its earlier bid for Sky is formally approved by the UK government, the paper said.

Fox, which declined to comment, initially made a £10.75 a share bid to take full control of Sky in December 2016.

Image source, Getty Images

Ride-hailing business Uber has announced a deal with scooter hire company Lime.

Lime lets people hire scooters, electric bikes and pedal cycles in 46 cities.

The deal means Uber users will be able to rent Lime's scooters via the car-sharing company's app.

News about the deal emerged as Lime announced funding of $335m (£253m) that Uber, along with Google's Alphabet and others, had contributed to.

Read more here.

Image source, Getty Images

The pound may have taken a hit today due to Boris Johnson's resignation, but how sterling performs going forward depends on what happens next in politics.

Simon Derrick, a chief currency strategist with Bank of New York Mellon, says that historically over the last half a decade, the market has been poor in pricing in political risk for sterling, remaining largely calm ahead of the Brexit referendum and the general election.

But this will now change.

"They are now going to start focusing far more on the potential political risks, they will focus on the possibility of a leader challenge, on broader risks in parliament," he told the BBC.

"In part it depends on what happens tonight at meeting of the 1922 committee - any sign Theresa May hasn't gained the confidence of backbenchers could be a concern.

"Sterling's definitely taken a hit today, they're definitely worried that two senior ministers have gone, but there's a recognition of taking it one step at a time."

Image source, PA

In his resignation statement to Theresa May, Boris Johnson said the UK appeared to be "heading for a semi-Brexit" and would take on "the status of a colony" under her Brexit plans.

The now former foreign secretary said: "We are truly headed for the status of a colony - and many will struggle to see the economic or political advantage of that particular arrangement."

We thought we'd show you a picture of Mr Johnson with former prime minister David Cameron, who - lest we forget - decided to hold a referendum on the European Union.

Want more BoJo? Here you go:

Image source, Reuters

The Guardian is reporting that Sir Martin Sorrell is on the verge of sealing a €300m (£266m) takeover of the Dutch agency MediaMonks, external.

The deal could be announced as soon as Tuesday and would be the first acquisition for S4 Capital.

Sir Martin set up the venture very quickly after leaving WPP after three decades running the advertising group.

Image source, Getty Images

Drake's latest album, Scorpion, has crushed the record for streaming to post the biggest week this year on the US chart.

It was streamed nearly 746 million times in the US on platforms such as Spotify and Apple Music in the seven days to Thursday, Nielsen Music said, meaning it sold the equivalent of 732,000 copies.

That easily beat Post Malone's beertbongs and bentleys", which notched up 431 million streams in May.

Streaming records are regularly being broken as more music fans switch to streaming.

Yes, UK politics are a complete shambles, but it could be a lot, lot worse - as Bloomberg reporter Ben Bartenstein tweets:

Image source, Getty Images

Sterling has slipped a bit further against the dollar to $1.3226 - almost 0.5% lower - and is down 0.6% at €1.1246.

"What we can say is the pound can handle ministerial resignations if that's the extent of it ... if it means [Boris] Johnson leaving and not launching a leadership challenge," said Viraj Patel at ING.

A weaker pound means higher profits for many companies on the FTSE 100, which ended the day almost 1% higher.

More from our political editor on Theresa May's survival prospects:

The London market has ended the day 0.9% higher at 7,687.9 points, with mining firms leading the risers.

However, one trader says the FTSE 100 is rising "for the wrong reasons", warning investors to be careful of the sterling-FTSE correlation.

Theresa May "has a leadership challenge on her hands ... more uncertainty and a poorer negotiating stance", he notes. "If [Jeremy] Corbyn gets in it can't be good for the FTSE ultimately."

Maybe that's why shares in water companies were the day's biggest fallers, with Severn Trent shedding 3.1% and United Utilities down 2.2%.

The Labour leader has vowed to bring water firms back into public control.