Image source, GETTY IMAGES

The competition watchdog has said it's concerned, external that a merger between JD Sports and Footasylum could lessen competition for shoppers across the UK.

In an investigation, it found provisionally that the deal might mean shoppers see fewer discounts, or have less choice in the shops and online.

A £90m deal between the two was announced in 2019.

JD Sports is one of the largest sportswear retailers in the UK. Its executive chairman Peter Cowgill shot back at the Competition and Markets Authority (CMA).

He said: "The competitive landscape described by the CMA is one which neither I, nor any experienced sector analyst, would recognise. Just take a walk down any major UK High Street or search for Nike or Adidas trainers on Google and you can see for yourself how competitive this marketplace really is."

He added: "We remain convinced that a combination of the two businesses would provide significant long-term benefits to customers, colleagues and brand partners, while maintaining Footasylum's presence on the High Street as the music-inspired casual retailer which it is today."

The FTSE 100 index of blue chip shares has opened ahead on Tuesday.

Not long after open in London it was up 67 points, or 0.90%, at 7514.46

Tom Burridge
Transport correspondent, BBC News

With its much higher price tag HS2 has become politically toxic and that’s why the government is also announcing a massive cash injection for buses and cycling in England.

I’m told that figures within government who weren’t sold on HS2 wanted those other transport pledges at the same time.

Today’s announcement on High Speed 2 broadly mirrors some of the main recommendations from the government’s still unpublished review into the project.

I’ve read the review’s full report and it emphasises that any significant changes to the first phase of HS2, linking London to Birmingham, would have caused further delays.

No-one in government wanted that.

The idea that the latter phase, linking Crewe to Manchester and Birmingham to Leeds will undergo yet a further review is simply because that part of the project is at such an early stage and ministers believe savings can be found. They also want the high speed lines to be better integrated with our existing rail network and other future infrastructure projects too.

Politics and pledges to voters in the north of England and the midlands was a big part of this decision. But so too was the amount of work which has already been done on the first phase of the project.

Ultimately, the government felt that turning back wasn’t an option.

Image source, Getty Images

Bookmaker William Hill has signed a major sports betting deal in the US with media group CBS Sports.

It makes the FTSE 250 firm the "Official Sports Book and Wagering Data Provider" across all CBS Sports platforms.

That includes the opportunity to advertise to the 42 million people who visit the CBS sport website each month.

Bookmakers in the UK have been under increasing pressure in recent months, with a crackdown of fixed odds betting machines, and an upcoming ban on credit card betting.

Hence the desire by British operators to gain a foothold in the US market.

CBS Sports Digital offerings include SportsLine, a dedicated subscription platform for game picks and predictions that has seen strong subscriber growth in recent years; CBSSports.com; 24/7 streaming network CBS Sports HQ, which features the nightly SportsLine show focused on sports betting and delivered triple-digit viewership growth in 2019; CBS Sports Fantasy; CBS Sports apps; and 247Sports.

BBC Radio 5 Live

Image source, Reuters

Lee Kemp runs Vermillion Films in Birmingham which makes corporate training films.

HS2 is “really good news for us as a city and as a region,” he told Wake Up to Money. “With this actually moving forward people can start making plans around it”.

He says the existing services can be temperamental, meaning rail travel to and from London can be tricky.

“On those lines when it works it’s good and I can get in and out of London relatively quickly, but as soon as something goes wrong the knock-on effects can be fairly bad and you get pushed on to other services.

“It’s all fine when it works but when it doesn’t it becomes a major drama.”

Today Programme
BBC Radio 4

Image source, HS2 Ltd

Doug Thornton, a former head of property at HS2, is concerned about the rising costs of the project.

He told the Today programme: "We do have optimism bias in these schemes. The days arrive when budgets arrive out of nowhere. In my time working at HS2, I felt there was a concerted effort to hold the numbers down until the scheme got royal assent.

"It is obviously Boris Johnson's prerogative whether the scheme is given the go-ahead or not and we will have to see what terms he has approved or whether he has just said to go and deliver it and build the railway.

"I think I have seen Mr Johnson describe HS2 as 'profligate' and it seems what is emerging is a real breakdown of trust between Downing Street and HS2. That is not a surprise, having seen the numbers (for the cost) galloping from £57bn to £100bn."

Today Programme
BBC Radio 4

Image source, Siemens/PA Media

If HS2 gets the go-ahead later today, it will benefit far more places in England than just the major cities on the route, according to the head of the Railway Industry Association.

Darren Caplan told the Today programme: "This would benefit lots of people - you think about London, Birmingham, Manchester and Leeds, but loads more towns and cities will benefit from it as well. Coventry, Shrewsbury, Leicester, Leamington Spa, Nottingham, Newark - places like that, the benefits are massive.

"If the reports are correct, our members will be over the moon and also so will the communities and towns across the country who will benefit from it. The capacity increases you get from HS2 are transformational.

"So when you get HS2, you don't just get a new railway line, you increase capacity on the East Coast Main Line, the Midlands Main Line and the West Coast Main Line. There are benefits all round."

Image source, Getty Images

China has launched an app that allows people to check whether they have been at risk of catching the coronavirus.

The 'close contact detector' tells users if they have been near a person who has been confirmed or suspected of having the virus.

People identified as being at risk are advised to stay at home and inform local health authorities.

The technology shines a light on the Chinese government's close surveillance of its population.

To make an inquiry users scan a Quick Response (QR) code on their smartphones using apps like the payment service Alipay or social media platform WeChat.

Read more here.

Image source, Getty Images

Asian markets rose today as investor confidence was boosted by a slowdown in new coronavirus cases.

Hong Kong's Hang Seng was up by 1.3%, and the Shanghai Composite in China was 0.6% higher.

Japanese financial markets are closed for the National Founding Day holiday.

BBC Radio 5 Live

Image source, PA Media

Cate Walter is a director of Rhino Safety in Sandbach, near Crewe in Cheshire, and she says the continuation of the HS2 project can only be good for the economies of nothern England.

"For Crewe this is absolutely crucial. People have this concept of Cheshire being a leafy, affluent, area," she tells Radio Five Live's Wake up to Money.

"But there are pockets, including Crewe, with some really quite stagnant economies.

"We have really suffered with lack of investment in recent decades. The investment in our very local economies that HS2 should bring will be absolutely crucial for growing businesses in our area."

BBC Radio 5 Live

Image source, Siemens/PA

Should we be worried about the rising cost of HS2? Yes, says Sue Noffke, a fund manager at Schroders.

"Getting value for money and having a better handlle on what the ultimate cost is, to be available at the outset, would give a lot more confidence in government's ability to deliver," she tells Radio Five live's Wake up to Money programme.

She also says bringing in large infrastructure projects on budget can only be good for the UK's reputation.

BBC Radio 5 Live

Image source, HS2

What does business think about the potential continued go-ahead for HS2?

"We need a better backbone for our public transport services," Adam Marshall, director general of the British Chambers of Commerce, tells BBC Radio Five live's Wake up to Money programme.

"The capacity HS2 is going to deliver is absolutely crucial."

Welcome to another day at Business Live. We will have all the latest companies and economics news for you throughout the day.

It looks like it's going to be a big day on the transport front, with the government set to give the HS2 high-speed rail link the go-ahead, talks about whether the government can bail out airline Flybe, and the prime minister set to pledge £5bn over the next five years to improve bus and cycling services in England.