Business Live with Ian King: UK economy contracts by 0.5% in July

Join our Business presenter Ian King and guests, as the Office for National Statistics reveals the UK economy contracted by 0.5% in July.

The ONS said the decline - which was worse than many economists had expected - followed an unrevised 0.5% increase in gross domestic product (GDP) over the previous month.

Plus, BP shares fall by 1.7% following chief executive Bernard Looney's shock resignation.

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