Image source, Getty Images

A price cap on energy bills in the UK came into force at the start of the year and has been hitting profits of energy firms.

Good Energy Group, has won a permanent exemption from the cap, external, due to its use of renewable energy.

"Customers choose Good Energy because they know the importance of achieving the clean energy transition we so urgently need," said chief executive, Juliet Davenport.

"OFGEM has recognised the need for that choice to be available, and that our model genuinely supports renewable generation in the UK."

Image source, Reuters

Profits at Royal Dutch Shell have tumbled., external In the second quarter it reported income of €2.9bn, half the amount in the same period last year.

It blamed lower prices for oil, gas and chemicals.

Profits were also hit by write-offs totalling $479m, mainly related to businesses in Trinidad and Tobago and Australia.

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Barclays has reported a pre-tax profit of £3.13bn for the first half of the year, down from £3.7bn in the same period last year.

The company blamed a "challenging income environment" and also one-off accounting measures.

The retail bank in the UK saw growing mortgage and deposit growth, but profit margins fell.

The investment bank saw profits fall 15% to £1.7bn.

However, the second quarter showed improvement. Pre-tax profit rose to £1.53bn.

"This was another resilient quarter of performance," said chief executive Jes Staley.

Image source, Rolls-Royce

BMW enjoyed a record second quarter, selling 647,504 cars, up 1.5% on last year.

Rolls-Royce sales surged 42% to 2,534 cars. Demand for the new Cullinan model was "exceptional" with its order book full until early next year, BMW said.

However, net profit fell 28.7% to €1.48bn - BMW blamed investment in upcoming new models.

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Brazil's central bank has cut interest rates for the first time in over a year.

Its main rate was lowered by 50 basis points to 6.00%. The last time it cut interest rates was in March 2018., external

"Recent data on economic activity suggest a possible resumption of the process of economic recovery. Copom's baseline scenario assumes that this recovery will occur at a gradual pace," the central bank said, according to a translation by Reuters.

"The global outlook has become benign, owing to changes in monetary policy in major economies. Nevertheless, the risks associated with a slowdown in global growth remain."

Today Programme
BBC Radio 4

Image source, Reuters

Late yesterday the US Federal Reserve cut interest rates for the first time since 2008.

Karen Ward, chief market strategist at JP Morgan Asset Management, says that the US Fed's "calm and measured" approach to interest rates was the right way to go.

However, markets fell after Fed chairman Jerome Powell ruled out further rate cuts this year.

"There were a lot of expectations," says Ms Ward. "The market really likes low interest rates, really likes the idea of them stimulating the economy very aggressively but the economy just doesn't justify such aggressive action right now."

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It's been a fairly lacklustre session across Asian markets.

In afternoon trading, Japan's Nikkei 225 slipped 0.1% while the Shanghai Composite and Hong Kong's Hang Seng both gave up 0.7%.

The co-founder of Hotel Chocolat, Angus Thirlwell, is asking if anyone has seen the company's chocmobile.

It was stolen from the company's headquarters in Royston, Hertfordshire.

Image source, Siemens

The giant German industrial firm Siemens says trading conditions are getting harder.

The company reported a 6% fall in net profit to $1.26bn in the third quarter and said profit margins were under pressure.

"Despite a significantly weaker environment in our key markets, we confirm our outlook for the year. As indicated already quite some time ago, geopolitics and geoeconomics are harming an otherwise positive investment sentiment," said chief executive Joe Kaeser.

Making a range of products, from trains to wind turbines, Siemens is one of Europe's biggest industrial firms.

BBC Radio 5 Live

Image source, PA Media

At its height Harland & Wolff was the biggest shipyard in the world, and is perhaps best known for building the Titanic.

But it now employs 100 staff and is facing administration unless it finds an investor.

Margaret Canning is the Business Editor for the Belfast Telegraph: "Administration does look likely due to the continuing financial difficulties at the firm."

She has spoken to one international investor, Michael Flacks, who said he was ready to do a deal.

Mr Flacks owns an investment company which is based in Miami.

However, she says he has talked about bids for other struggling companies in the past, including Laura Ashley, but has not come up with a deal.

She thinks the government is unlikely to put money into rescuing the shipyard.

Image source, Getty Images

Chinese billionaire Liu Zhongtian has been indicted in the US over allegations he evaded $1.8bn (£1.5bn) in tariffs on aluminium imports.

Prosecutors accuse Mr Liu of using the aluminium company he founded to smuggle huge amounts of the metal into the US.

The firm, China Zhongwang Holdings, did not immediately respond to a BBC request for comment.

The Wall Street Journal reported a warrant has been drawn up for Mr Liu's arrest.

Image source, Getty Images

US-China trade talks in Shanghai ended with little progress other than both sides agreeing to hold more talks.

The talks in Shanghai were "constructive", a White House press secretary said in a statement, external, adding that the US expects to resume negotiations with China in Washington in early September.

US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin held talks with Chinese Vice Premier Liu He and his negotiating team for two days in Shanghai, the statement said.

They discussed issues including forced technology transfer and intellectual property rights - both at the centre of the US's trade dispute with China.

The Chinese also "confirmed their commitment to increase purchases of United States agricultural exports", the press secretary said.

The two sides have been fighting a trade war over the past year.

Ben Morris
Business reporter

It's time to launch Thursday's Business Live page.

We had some drama on the stock market yesterday when investors reacted badly to trading updates from Aston Martin, Intu and others. Today the results continue to roll in, including updates from Barclays, Shell and Merlin Entertainments.

We'll also find out what the Bank of England makes of the the economic outlook when it published its latest Quarterly Inflation Report.

Stay with us!