Image source, Getty Images

Gilberto Benetton, a co-founder of the Benetton clothing firm, has died at the age of 77 after a short illness.

With brothers Luciano and Carlo and sister Giuliana he founded United Colors of Benetton in Italy in the 1960s.

The family is one of the most powerful in Italy, with interests in construction, transport and catering.

Gilberto is credited with diversifying the company away from the clothing business, and growing it into a multi-billion euro giant.

Read more

Richard Hunter, head of markets at interactive investor, has commented on those Whitbread half-year figures,. He said:

Image source, Getty Images

The Sun newspaper says there may be help at hand in the forthcoming Budget. It has a story that Phillip Hammond is planning to cut business rates, one of the costs frequently cited as troublesome to retailers. The Sun says he is considering a £1.4bn tax cut for 235,00 small businesses by raising the £12,000 threshold, based on the rent the property could be let for, at which firms start paying business rates.

Image source, Getty Images

Another factor giving markets the jitters is the standoff between the EC and Italy over its budget. The head of the European Stability Mechanism, the eurozone's rescue fund, Klaus Regling, says there is a risk about Italy and it is worried. But, he goes on to say there is no cause for panic, and Italy is not the same as Greece. He is speaking at a news conference in Luxembourg.

Image source, Getty Images

The longest sea bridge in the world opened today, nine years after construction first began.

It spans 55km (34 miles) and connects Hong Kong to Macau and the mainland Chinese city of Zhuhai.

All up it cost a staggering $20bn to build. Chinese officials say it will generate up to 10 trillion yuan ($1.44tn; £1tn) for the economy, while critics have called it a "big white elephant" that guarantees no economic return.

European shares have fallen to their lowest levels in nearly two years in a sea of red across the region.

Stocks have fallen after a disappointing batch of third-quarter results, particularly in the tech sector, amid ongoing worries on Brexit, Italy's budget, Saudi isolation, trade wars, Chinese growth and US interest rates.

London's blue-chip index the FTSE 100 has remained in the red all morning, and is currently down 0.86%, or 60.65, on the day.

Image source, Geograph

Takeover target Intu said this morning it has seen the value of its shopping centres drop following difficult retail conditions.

The group, which is the target of a consortium led by John Whittaker's Peel Group, said its net asset value fell 3% in the third quarter.

It "reflects current negative investor sentiment towards UK retail property" the company said.

It comes on top of a 5.6% fall in its property values in the first half of the year.

Intu - which owns Lakeside shopping centre (pictured) - said it expects like-for-like net rental income growth of up to 1% in 2018, while the aim is for 2% to 3% of growth per year over the next three to five years, although in 2019 Intu expects only 1% growth.

Shares in the company have fallen 1.41% to 198.65

Simon Jack
BBC Business Editor

Uk-based Dyson, best known for its vacuum cleaners and hairdryers, has chosen to manufacture its new electric car in Singapore. with the first car scheduled to roll off the production line in 2021.

The company said the decision was based on the availability of engineering talent, regional supply chains and proximity to some of its key target markets.

The company has previously said it will commit £2bn to the project including £200m to be spent in the UK on R&D and test track facilities - much of which has already been spent.

Dyson insisted the decision to locate production in Asia rather than the UK had nothing to do with Brexit.

Image source, Getty Images

Asian shares slumped as investos cashed in in on recent gains.

In China, the Shanghai Composite fell 2.3% after seeing its highest daily spike in more than two years in the previous trading session. Hong Kong's Hang Seng index was 3.1% lower.

Japan's benchmark Nikkei 225 was 2.7% lower and Australia's benchmark S&P/ASX 200 index shed 1.1%.

Image source, Bunzl

Distribution group Bunzl is buying Volk do Brasil, a glove supplier.

The business is forecast to achieve revenue in 2018 of R$200 million ( around £41m). Completion of the acquisition is subject to clearance of the transaction by the Brazilian competition authority.

Frank van Zanten, chief executive of Bunzl, said the acquisition "will expand our already well established safety business in Brazil".

It also reported that group revenue climbed 7% in the third quarter, based on growth of around 4% and an impact from acquisitions of around 3%.

Image source, Getty Images

Shares in customer communication company Communisis have leapt 39% this morning to 70.80p, just below the price investors have been offered today for their shares by private equity firm OSG Bidco.

The takeover bid values the company at £153.8m.

Commenting on the bid, Communisis chairman David Gilbertson said: "Whilst the Communisis Board believes that the business would have a promising future as an independent listed company, a combination with OSG will provide Communisis with the scale, global presence and digital technology capabilities to ensure it remains at the forefront of its industry and maximises its future potential.”

Image source, St James's Place

Leading the FTSE 100 losers this morning is wealth manager St James's Place after it published third quarter figures.

It said group funds under management have climbed 11% since the beginning of the year and 17% in the last 12 months to £100.6bn.

In the third quarter it said gross inflows of funds were up 7% at £3.83bn.

Andrew Croft, chief executive, said: "There remains growing demand for high-quality financial advice, notwithstanding the current macro and geo-political uncertainty."

However the company's shares have fallen 2.75% to £1,004.75 in early trading.

Commenting on Bloomsbury Publishing’s interim results Emma-Lou Montgomery, associate director from Fidelity Personal Investing’s share dealing service said:

Today Programme
BBC Radio 4

Morrisons yesterday lost its challenge to a High Court ruling that it is liable for a data breach that saw thousands of its employees' details posted online.

Tim Pitt-Payne, a QC at Q11KBW who specialises in data protection, tells Today it was an unusual case as a disgruntled senior employee who had legitimate access to payroll records then decided to post that information online.

He says the case centred on the legal question of "vicarious liability", which makes an employer liable for wrongdoing by workers in the course of their employment.

The Court of Appeal yesterday upheld the trial judge’s ruling, but Mr Pitt-Payne expects the Supreme Court to agree to hear the case given the implications it could have for companies.

He also warns an organisation such as a small charity could be sent to the wall if a similar data breach was committed by one of their employees.

Times property reporter Louisa Clarence tweets:

The FTSE 100 has opened down 0.79%, or 55.36, to 6,986.50.

The FTSE 250 is down 0.92%, or 172.2 points at 18,587.74.

Image source, Getty Images

HSBC is getting back into consumer lending in the US, according to the Financial Times., external

The bank plans to launch a digital lending platform for US customers in the first half of next year, allowing it to target a far broader market, the newspaper reported.

BBC Radio 5 live

Good to see our 5 live colleagues in Salford getting to grips with the serious issues of the day...

Image source, TP

Travis Perkins plans to keep cutting costs after sales in its consumer division, which includes Wickes, fell 4.2% in the third quarter as its core kitchen and bathroom categories continued to suffer.

The decline at Wickes overshadowed a group-wide 3.9% sales increase and like-for-like comparable growth of 4.1%, driven by plumbing and heating.

Chief executive John Carter said: "The UK DIY market continues to be very challenging for Wickes, where significant price pressure and weak consumer confidence is providing a tough trading backdrop.

Across the group, we are making good progress with the cost reduction activities that were highlighted in July and these actions are generating positive results and underpin our confidence that our full-year performance is on track and in line with market expectations."

Shares in Travis Perkins have tumbled this year from £15.71 in January to close just under £10 yesterday.