Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Live Reporting

By Tom Espiner

All times stated are UK

Get involved

  1. Goodnight

    That's all from the Business Live Page for today. See you again tomorrow from 0600.

  2. Expect more US oil production in 2017 says ING

    Pump jacks near Williston, North Dakota

    The number of oil rigs in the US has gone back up after hitting a low in May last year as crude prices have risen, says ING analyst Hamza Khan.

    Plus, "the Trump administration is likely to be supportive of increased domestic output, with [Mr] Trump expected to be more accommodative towards the domestic oil and gas industry," he says.

    More output should lead to higher exports, he says.

  3. Toyota's olive branch

    Is Toyota hoping to mollify Donald Trump? 

    The company's American arm has just issued a statement saying production and employment levels at Toyota in the US won't be affected by the new plant it's building in Mexico.

    Trump has been threatening car makers with stiff import tariffs if they make cars in Mexico to sell in the US.

    The Japanese company points to four different Toyota plants in the US that have had additional investment in recent years. 

    "Toyota looks forward to collaborating with the Trump Administration to serve in the best interests of consumers and the automotive industry," the statement said.

    Toyota car
  4. Wall Street close

    Still not breaking through the 20,000 mark, the Dow Jones closed the day 42 points lower at 19,899.

    The S&P 500 closed a fraction lower at 2,269.

    The Nasdaq was a bit higher though, up 12 points at 5,489.

  5. Soundcloud 'may run out of money'

    Vic Mensa performs at the SoundCloud Artist Forum Afterparty at Samsung 837

    German music streaming firm Soundcloud may run out of cash this year, the FT reports.

    The service, which lets musicians upload their original content to be shared with others, is largely free.

    It had an after-tax operating loss of €51.2m in 2015, while revenues were €21.1m, the FT article said.

  6. Music streaming 'overtakes digital music sales in the US'

    Drake

    Music streaming from firms such as Spotify and Apple exploded in popularity in the US in 2016, overtaking digital sales for the first time, according to Nielsen Music.

    Music streaming services grew by 76% in the year.

    People in the US used on-demand streaming platforms, such as Apple Music, Google Play, Spotify, Pandora and Amazon Music, to listen to 431 billion songs in 2016, led by hip hop and R&B artists like Drake (pictured), The Weeknd, Kanye West and Rihanna, Nielsen said.

  7. Coca-Cola sued for allegedly down-playing risks of sugary drinks

    Coca-Cola logo

    Coca-Cola and the American Beverage Association trade group are being sued for allegedly misleading consumers about the health risks from consuming sugary beverages.

    The nonprofit Praxis Project accused the defendants of downplaying the risks to boost sales, despite scientific evidence linking sugary beverages to obesity, diabetes and cardiovascular disease.

    Coca-Cola said the lawsuit was "legally and factually meritless".

    "We take our consumers and their health very seriously and have been on a journey to become a more credible and helpful partner in helping consumers manage their sugar consumption," a spokesman for the firm said.

  8. Trump to face Vanity Fair nemesis

    Donald Trump

    This could be a bit awkward.

    According to Politico, Donald Trump will meet with Vanity Fair editor, Graydon Carter, on Friday.

    Mr Carter has not been shy in his criticism of the US president-elect. Most famously he called him a "short-fingered vulgarian", as well as a bully and likened him to a "caged ferret". 

    Most recently, Vanity Fair published a review of the Trump Grill which it said "could be the worst restaurant in America".

    In retaliation, Mr Trump said Mr Graydon had no talent and claimed Vanity Fair's number" were "poor" - prompting a huge leap in subscriptions.

    So Mr Trump's meeting with the editorial leadership at Conde Nast, publisher of Vanity Fair, promises to be a highly entertaining affair.

    Who comes out best, we'll have to wait and see.

  9. Toyota 'will consider options' after Trump inauguration

    Akio Toyoda

    Toyota has reacted cautiously to a threat from President-elect Donald Trump to raise tariffs on Toyota cars manufactured in Mexico.

    Toyota chief executive Akio Toyoda said that the carmaker has no immediate plans to curb production in Mexico, preferring to wait until after Donald Trump's 20 January inauguration before deciding whether to make any changes.

    "We will consider our option as we see what policies the incoming president adopts," Mr Toyoda said at an industry gathering in Tokyo, when asked whether his company was considering any changes to a production plant the carmaker was building in Mexico.

    Mr Trump said the plant was due to be built in Baja, Mexico - he had the location wrong. The company announced in April that it would build a $1bn Corolla factory in the central part of the country.

  10. Time Warner shares down after Trump report

    Time Warner shares

    Time Warner shares have dropped very sharply after a report that Donald Trump was opposed to AT&T's acquisition of the firm.

    During his campaign Mr Trump said AT&T's $85.4bn proposal to buy the owner of CNN and the Warner Bros movie studio was an example of a "power structure" that was rigged against him and voters.

  11. Toyota shares fall after Trump tweet

    Toyota shares

    Toyota shares have fallen slightly after a tweet by President-elect Donald Trump demanding the firm to build a factory in the US rather than Mexico or face "big border tax".

    Shares are down 0.43%.

  12. Mexico's central bank sells $1bn to prop up peso after Trump slump

    Peso and dollar notes

    Mexico's central bank has sold at least $1bn in Mexico and New York to try to fight the peso's nosedive, news agency Reuters reports.

    Investors fear US President-elect Donald Trump's protectionist policies could further hammer Latin America's second biggest economy.

    It was the bank's first currency intervention since February 2016, when it sold $2bn to prop up the sinking peso.

  13. Verizon 'unsure about Yahoo deal'

    Verizon logo

    A Verizon executive has said the firm is unsure about its planned acquisition of Yahoo after the tech firm's huge data breach.

    Verizon executive Marni Walden said: "I can't sit here today and say with confidence one way or another because we still don't know [about the deal]."

    After news broke of the breach, Verizon said it was seeking better terms.

  14. Bitcoin slumps as yuan rises

    Bitcoin sign

    Bitcoin has dropped dramatically after a surge in China's yuan.

    Bitcoin had gained more than 40% in two weeks to hit a three-year high of $1,139.89 on Wednesday.

    But it dived as low as $885.41 on Thursday as the yuan jumped by over 1%.

    Why the see-saw?

    Chinese exchanges have reported high volumes of trading of the web-based "cryptocurrency" over the past year, during which time the yuan has dropped almost 7%, while bitcoin has surged 125%.

    Bitcoin can used for moving money across the globe quickly and anonymously, and operates outside the control of any central authority.

    That makes it attractive to those wanting to get around capital controls, such as in China, and also to investors who are worried about a devaluation in their currency.

  15. Money Shop owner receives bid approach

    Money Shop

    Dollar Financial UK, the owner of payday lender The Money Shop, says it has received a bid approach from an unnamed suitor.

    The firm said the offer would be considered "in the normal manner".

    Dollar Financial also operates online lenders Payday Loans and Payday Express, as well as the pawnbroking firm Suttons & Robertsons.

    The company has been put up for sale by its American owner following a difficult few years.

    Read more here.

  16. US jury orders DuPont to pay $10.5m in damages to cancer patient

    DuPont logo

    A US jury in Ohio has ordered chemical giant DuPont to pay $10.5m in punitive damages to a man who said he developed testicular cancer from exposure to a toxic chemical leaked from a Dupont plant.

    The federal jury had awarded Kenneth Vigneron $2m in compensatory damages in December.

    This is the third time that jurors in Columbus, Ohio federal court have found DuPont liable for individuals' injuries linked to perfluorooctanoic acid, known as PFOA or C-8, which is used to make Teflon.

    "The jury has sent a strong message that we hope DuPont will listen to," the plaintiff's lawyer Robert Bilott said.

    DuPont faces more than 3,400 lawsuits over the leak of the chemical from its Parkersburg, West Virginia, plant.

  17. Japanese insurance firm replaces 34 staff with AI

    Robot holding a newspaper

    Science fiction has long imagined a future in which humans are ousted from their jobs by machines.

    For 34 staff at a Japanese insurance firm, that vision just became a reality.

    Fukoku Mutual Life Insurance is laying off the employees and replacing them with an artificial intelligence (AI) system that can calculate insurance payouts.

    The firm believes it will increase productivity by 30%.

    Read more here.

  18. After Brexit: What happens next for the UK's farmers?

    Combine harvester and tractor

    Of all UK industries, farming could lose or gain the most from Brexit.

    At worst Brexit could devastate the farming sector; on average 60% of farm incomes come in the form of EU subsidies.

    The think-tank Agra Europe estimates that without subsidies 90% of farms would collapse and land prices would crash.

    So far no one has said the subsidies will be taken away, or even that they will shrink.

    Read more here.