Summary
Get in touch: bizlivepage@bbc.co.uk
TSB reports £105m loss on IT meltdown
Manufacturers stockpile for Brexit at record rate
TalkTalk shares drop on profit warning
US adds 304,000 new jobs in January
Live Reporting
Jill Treanor
More on China trade talkspublished at 16:49 Greenwich Mean Time 1 February 2019
16:49 GMT 1 February 2019
This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
The BBC is not responsible for the content of external sites.
Skip twitter post
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
The BBC is not responsible for the content of external sites.
End of twitter post
US Manufacturing indexpublished at 16:28 Greenwich Mean Time 1 February 2019
16:28 GMT 1 February 2019
This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
The BBC is not responsible for the content of external sites.
Skip twitter post
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
The BBC is not responsible for the content of external sites.
End of twitter post
Auto sales uppublished at 16:13 Greenwich Mean Time 1 February 2019
16:13 GMT 1 February 2019
Image source, Getty ImagesUS sales for Fiat Chrysler rose 2% in January, fuelled by demand for its Ram pickup trucks.
Reid Bigland, head of sales in the US for Fiat US, said that despite the cold weather in January, the company was "bullish on 2019".
US President tweetspublished at 15:58 Greenwich Mean Time 1 February 2019
15:58 GMT 1 February 2019
This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
The BBC is not responsible for the content of external sites.
Skip twitter post
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
The BBC is not responsible for the content of external sites.
End of twitter post
This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
The BBC is not responsible for the content of external sites.
Skip twitter post 2
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
The BBC is not responsible for the content of external sites.
End of twitter post 2
Exxon Mobile jumpspublished at 15:45 Greenwich Mean Time 1 February 2019
15:45 GMT 1 February 2019
Image source, ReutersShares in Exxon Mobile are up 4%.
While its fourth-quarter income fell to $6bn (£4.45bn), from $8.4bn a year earlier, its profits were up to $6.4bn from $3.7bn a year ago.
Progress on US-China trade talkspublished at 15:24 Greenwich Mean Time 1 February 2019
15:24 GMT 1 February 2019
Image source, Getty ImagesWhite House Economic adviserLarry Kudlow has been talking about trade talks with China.
Speaking on Fox Business Network, he said: "Progress was made. We covered a lot of specifics, and so Ithink it's a hopeful story right now, but much work is still infront of us".
Amazon slipspublished at 15:07 Greenwich Mean Time 1 February 2019
15:07 GMT 1 February 2019
Image source, Getty ImagesOne of the reasons Nasdaq is lower is Amazon.
On Thursday, Amazon warned of lower-than-expected sales for the first three months of the year and it has also been forced to remove an array of products from its website in India to comply with new regulations.
The shares are off around 4%.
No let up in hiringpublished at 14:54 Greenwich Mean Time 1 February 2019
14:54 GMT 1 February 2019
Quote Message
"The Fed chickened out on further rate hikes this year and boy are they ever misreading the tea leaves on where the economy is going next. US companies have not let up one bit on their hiring in response to risks out there in the world economy."
Chris Rupkey,, chief economist at MUFG
Wall Street openpublished at 14:45 Greenwich Mean Time 1 February 2019
14:45 GMT 1 February 2019
Image source, Getty ImagesIt's a steady start on Wall Street.
The Dow Jones is up 0.1% - or 25.64 points - at 25,025 at the open.
The S&P 500 is down - just 1.7 points - at 2,702.32.
The Nasdaq is off 25.37 points - that's 0.35% - at 7,256.37.
Wage growth slowspublished at 14:35 Greenwich Mean Time 1 February 2019
14:35 GMT 1 February 2019
Image source, Getty ImagesWhile average hourly earnings in the US rose 3.2%, the growth was 3.3% in December.
That's "the one genuine soft spot" in the non-farm payrolls data, said Andrew Hunter, senior US economist at Capital Economics.
'Fair chance' of US rate hikepublished at 14:22 Greenwich Mean Time 1 February 2019
14:22 GMT 1 February 2019
Image source, Getty ImagesThe jobs data released earlier could mean the US Federal Reserve raises rates - despite the central bank's pledge on Wednesday to be "patient".
"The Fed made it pretty clear this week that rates will remain on hold in the near term but, if employment growth remains this strong, there is still a fair chance of one more rate hike in the first half of this year," said Andrew Hunter, senior US economist at Capital Economics.
Chevron boosted by oil pricepublished at 14:10 Greenwich Mean Time 1 February 2019
14:10 GMT 1 February 2019
Image source, GettyOil company Chrevon is starting the US day higher after its profits beat Wall Street's expectations.
It was boosted by higher oil prices - prices paid for its crude oil rose to $59 a barrel from $57 in the same period last year - and the fact it was producing more oil and gas.
In the quarter to the end of December, its revenue rose 12% to $42.35bn,
The shares were up 2% before the market opened.
Too much of a good thing?published at 13:52 Greenwich Mean Time 1 February 2019
13:52 GMT 1 February 2019
Image source, Getty ImagesThe US jobs figures should "buoy consumer spending and could boost the stockmarket" says Kully Samra of Charles Schwab.
"However, a string of positive data could lead the Federal Reserve to “un-pause” its rate hike cycle sooner than expected, which would likely result in volatility and pull backs," he adds.
US adds 304,000 new jobs in Januarypublished at 13:31 Greenwich Mean Time 1 February 2019
13:31 GMT 1 February 2019Breaking
US non-farm payrolls shows that US firms created 304,000 jobs last month, according to the US Labor Department.
Average hourly earnings rose by 3.2%.
However, the job numbers for December have been revised down from 312,000 to 222,000.
Trump: There's a very good feelingpublished at 13:27 Greenwich Mean Time 1 February 2019
13:27 GMT 1 February 2019
Image source, Getty ImagesUS President Donald Trump has given an extensive interview to The New York Times in which he discusses trade talks with China.
You can read the full comments here, external. But in the meantime, here's Mr Trump on Chinese Vice Premier Liu He:
Quote Message
It’s a big deal. It’s a big deal. And we’re going comprehensive. We’re not just — He announced that he was buying — today — a tremendous amount of soybeans and various farm products. And I think you’ll be given that information in a little while, too. But he announced. What he did was the vice premier came in. He was here for two days having meetings. He’s leaving tomorrow. They’re meeting again now. And negotiations are going very well.
Donald Trump, President of the United States of America
Vale knew of dam risks last year - reportpublished at 13:20 Greenwich Mean Time 1 February 2019
13:20 GMT 1 February 2019
Image source, AFP/GettyVale, the Brazilian mining group, reportedly knew what areas were at risk if its Feijão dam in Brumadinho burst, according to an internal report seen by daily newspaper Folha de S.Paulo.
So far, 110 people have been confirmed dead and another 238 are missing after Vale's tailings dam - which is used to store by-products of mining - burst.
The newspaper reports that the internal study, dated 18 April, found that the mine restaurant would be hit by toxic mud. A number of Vale workers are likely to have died in this area when the dam collapsed.
The study said that sirens would alert employees if the dam burst. However, this did not happen because the sirens were engulfed in mud before they could be sounded.
Read the full story by Folha de S.Paulo - including Vale's response - here, external.
Netherlands hires vets in preparation for no-deal Brexitpublished at 13:07 Greenwich Mean Time 1 February 2019
13:07 GMT 1 February 2019
Image source, Getty ImagesThe Netherlands has hired more than 140 vets, mainly from southern and eastern Europe, to its food inspectorate as part of Dutch no-deal Brexit preparations.
They are having to take crash courses in Dutch.
About 100 are being hired to handlelivestock inspections after Britain leaves the EU and its single market on March 29.
A spokeswoman for the NetherlandsFood and Consumer Product Safety Authority said: "Britain will be considered an outside country requiringmore stringent checks than goods coming from member states whichdo not need additional certification."
The Dutch imported €237mof British meat in 2017.
Oddbins failed to mature with the timespublished at 12:50 Greenwich Mean Time 1 February 2019
12:50 GMT 1 February 2019
Image source, Getty ImagesOddbins' woes have been blamed on areas such as consumer weakness and Brexit worries.
But some experts think there are specific factors behind today's administration of the chain, which once had close to 300 outlets and was a favourite among middle class wine lovers.
Chris Hunt, head of retail at law firm Gowling WLG, says there was a failure to keep up with the competition. He singles out the success of Majestic, whose in-store wine tastings and other events "drove footfall over and above their online successes".
Mr Hunt thinks such in-store experiences should be a lesson for the entire retail industry. "Hobbycraft recently reported that in-store demonstrationswere its lifeline over the Christmas period, allowing it to report record salesthroughout its outlets," he says.
Tax return deadline is missed by 700,000published at 12:37 Greenwich Mean Time 1 February 2019
12:37 GMT 1 February 2019
Kevin Peachey
Personal finance reporterImage source, Getty ImagesA total of 700,000 people missed the deadline for submitting their self-assessment tax returns, according to HM Revenue and Customs.
This was little changed from the 746,000 who missed it a year ago.
More than 12 million people, many of whom are self-employed or have more than one source of income, are required to complete a tax return.
The deadline for paper returns for the 2017-18 financial year was in the autumn. The deadline for online returns was the end of 31 January.
The peak time for submitting was between 16:00 and 17:00 GMT on Thursday when 60,000 people filed.
Those who missed the deadline face a penalty of £100 during the first three months after the cut-off.
After three months, additional penalties of £10 per day can be demanded, up to a maximum of £900, followed by further charges six and 12 months after the deadline.
Sterling drops on manufacturing datapublished at 12:21 Greenwich Mean Time 1 February 2019
12:21 GMT 1 February 2019
The pound is down 0.36% against the dollar at $1.3062, weighed down by new data which showed activity in the UK's manufacturing sector slowed in January.
Samuel Tombs, chief UK economist at Pantheon Macroeconomics, says manufacturing was primarily boosted by companies stockpiling inventory to prepare for Brexit and that the industry's output fell to its lowest reading - at 51.4 - since July 2016, the month after the EU referendum.
He says: "All told, we see no reason to adjust our expectation thatGDP growth will be below-trend again in the first quarter - we look for a 0.3%quarter-on-quarter print - though stronger growth lies ahead if the uncertaintycreated by Brexit fades soon.
)
