Business news live: Glencore profits and Tesla shareholders sue Musk over Robotaxi

Tesla shareholders have reportedly launched a class action lawsuit against both the company and Elon Musk, surrounding the firm’s Robotaxi plans.

The lawsuit alleges Musk and Tesla committed securities fraud by concealing risks surrounding the company’s self-driving vehicles, with the Guardian reporting the chief executive overstating the effectiveness and future potential of the cars on a regular basis.

After tests started, the Tesla share price dropped more than 6 per cent. The company said “scalable and safe deployment across diverse geographies and use cases” was their focus, but they do not yet have permission to roll out the Robotaxis across the US.

The company have not responded to the claim, the report says.

Good morning all and welcome to our business live blog. Coming up today, the usual mix of money matters, stock market coverage, business and companies news and everything which might affect your wealth.

Today that includes a few names early on such as Rachel Reeves, Elon Musk and the Bank of England – let’s get started.