Edward Snowden welcomes Safe Harbour data transfer ruling
SABMiller rejects takeover approach from ABInBev - report
Average UK house prices up 8.8% last month - Halifax
John West accused of 'duping customers' over tuna
That's it from the Business Live page today, but tomorrow there is a lot to watch out for. European and global manufacturing data is out at 09:30 BST. Tesco will also be releasing its half-year results. And we are expecting Volkswagen's supervisory board to meet to discuss the aftermath of the emissions cheating scandal.
The price of Brent Crude oil has risen 5.3% which analysts say was helped after the US cut output forecasts. "Steeper US production declines over the near term have created a bid for oil prices," said Chris Jarvis, an analyst at Caprock Risk Management.
Stocks in the US closed the day mixed, after global growth fears returned on news that the IMF cut its growth forecast for the global economy - but the rising oil price helped buoy some stocks. The Nasdaq closed 0.26% higher, and the Dow Jones closed 0.08% higher. The S&P 500 closed 0.36% lower however. Healthcare stocks were the biggest group of losers today - United Health Group closed 3.2% lower, while Pfizer closed 2.15% lower.
BBC business reporter Susannah Streeter tweets:
An interview with Obama by US programme Marketplace will be on World Business Report at 22:30 BST:
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BBC business reporter Susannah Streeter tweets:
Listen in to an interview with US president Obama by US programme Marketplace on World Business Report at 22:30 BST:
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Women workers in California will have more power to challenge gender-based wage gaps under laws signed by Governor Jerry Brown. The laws let female workers allege pay discrimination based on the wages a company pays to other employees who do substantially similar work and puts more burden of proof on the employer if a man appears to be paid higher for the same work.
Tyre company Goodyear will definitely close its only UK manufacturing plant, bringing to an end nearly 90 years of history in Wolverhampton. Plans were first announced in June and all 330 workers at the Wolverhampton site were expected to lose their jobs. The first redundancies were likely on 31 December and closure would take place on a phased basis, the firm said. Production at the plant is anticipated to end no earlier than January 2017, it said. Read more on the BBC Business website.
Image source, Getty ImagesThe slowdown in global economic growth is down to the fact that some emerging economies were reporting growth figures which were unsustainable in the long term, says chief economist at Capital Economics, Roger Bootle. He added that the slowdown was also affected by the fall in commodity prices - which is linked to China's falling demand. He told World Business Report that the boom in the availability of cheap credit prior to the slowdown also "undoubtedly" linked to the current slowdown. The International Monetary Fund earlier today cut its growth forecast for the world economy to 3.1% from 3.3%.
Image source, Getty ImagesThe White House said it is concerned about the economic consequences of a European court ruling regarding online privacy rights, reports the Reuters news agency. White House spokesman Josh Earnest told reporters that the United States is reviewing the ruling that the European-US agreement on data transfer is invalid. Mr Earnest said that the US will work with the European Commission to release an updated framework.
Microsoft has launched a laptop dubbed the Surface Book, as part of a suite of new Windows 10 products. It also showed off two new smartphones, an updated Surface tablet and a new fitness band. Much is riding on the launches as chief executive Satya Nadella sets out to prove Microsoft can compete with its rivals. Microsoft shares have risen slightly by around 0.6%. Read more on the BBC website.
Image source, MicrosoftShares on Wall Street are mixed, which analysts say is down to resurfaced fears over global economic growth, after the International Monetary Fund cut its global growth forecast to 3.1% from the 3.3% it predicted in July. The Nasdaq is down 1.05%, and the S&P 500 is also down by 0.55%. The Dow Jones however is up slightly by 1.37%, helped by gains in DuPont shares which are currently up almost 10% after the chemical company announced its chief executive is retiring.
Six City brokers have gone on trial, accused of rigging a lending rate used between banks. The Libor rate is used to carry out trillions of pounds worth of financial deals. All six men, who have pleaded not guilty, are accused of conspiracy to defraud by trying to move the rate linked to the Japanese yen. The trial at Southwark Crown Court is set to last 12 to 14 weeks. They are alleged to have assisted another bank trader called Tom Hayes and others at banks UBS and Citigroup. Hayes was convicted of rate-rigging in August. Read more on the BBC Business website.
Image source, Getty ImagesIf you would like to know why the International Monetary Fund has cut its forecast for global growth, have a look at BBC Business's video explanation here.
London's FTSE 100 index closed 0.43% higher to 6,326.16 points. The rise in commodity prices helped energy shares maintain a steady rise throughout the day - shares in Anglo American ended up 4.26%, while shares in Shell ended 2.91% higher.
Edward Snowden, best known for leaking details of extensive internet and phone surveillance by his former employer, the US National Security Agency (NSA), has welcomed the Safe Harbour ruling:
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London's FTSE 100 is up 0.43%, with the biggest winners being energy shares. As commodity prices rise, shares in Anglo American are up 3.19%, while Royal Dutch Shell shares are up over 3%. Morrisons supermarket shares are also maintaining the day's gains, currently up almost 3%.
Volkswagen's chief employee representative Bernd Osterloh told reporters about recovering from the emissions cheating scandal: "We will watch carefully that this crisis, which was caused by a circle of managers, is not settled on the backs of employees". Mr Osterloh added: "We assume that, for reasons of decency, the management board's bonus will in case of doubt fall in the same way as the workforce's bonus.''
The BBC's business reporter Michelle Fleury in New York tweets:
After the International Monetary Fund cut its global growth forecast:
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Connor Campbell, a financial analyst at SpreadEx wrote of today's lackluster Wall Street opening: "[Today] sees the US index straggle behind the percentage growth of its European cousins. The index was initially hampered by the fact that the US trade gap hit a 5 month high in August, but began to show increasing strength as the open receded into the distant."
The BBC's New York business reporter Michelle Fluery tweets:
The International Monetary Fund has cut its global growth forecast:
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