Ian King Live: The Big Business & Economic Stories

Following the rallies everywhere at the end of last week, there had been some hopes among stock market investors that, after an abysmal August – during which both the FTSE-100 and S&P 500 indices suffered their worst falls in a single month since May 2012 – September might have begun slightly better.

No such luck. News (Other OTC: NWSAL - news) that China’s mighty manufacturing sector contracted during August for the first month since February sent the Shanghai Composite down 1.2 per cent, with falls worse elsewhere in Asia, notably Japan. The Nikkei closed down by more than 3 per cent amid fears that the recent strength of the yen is hitting Japanese exporters and news that Toshiba (Swiss: TOSH.SW - news) , one of the country’s largest industrial companies, has delayed publication of its results for a second time.

The anxiety spilled across to Europe and the United States, both of which traded lower on the back of weakness in Asia, while commodity prices have also been hit again. The price of Brent crude, which rallied by 25 per cent during the long Bank Holiday weekend, is off by nearly five per cent this afternoon.

On tonight’s Ian King Live, we’ll be asking whether September – traditionally, on Wall Street at least, the worst month for markets – is set to bring more bad news and if so, why?

We’ll also be examining the UK Card Association’s decision to raise the transaction limit on all contactless payments from £20 to £30, amid indications that the popularity of the facility is taking off, even though the limit remains well below countries such as Australia. Is it another nail in the coffin for cash?

And, just before we go on air, football’s transfer window closes until January. In the top flight, West Ham, Chelsea, Everton, Aston Villa,

Bournemouth and Southampton have all been active so far today while Manchester United (NYSE: MANU - news) – still smarting from the botched sale of goalkeeper David De Gea to Real Madrid – are also expected to be getting out the cheque book again before the deadline expires. In the Championship, meanwhile, Bristol City, Derby County and Fulham are among those who have been doing business.

But does any of this activity make monetary sense? I’ll be finding out from one of the world’s leading authorities on football finance.

All that, plus other business news from around the world, on Ian King Live at 6.30pm on Sky News. Hope you can join me.