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Summary

  1. FTSE 100 jumps, sterling slips
  2. Uber's London licence appeal to be heard in May or June
  3. Labour may move BoE to Birmingham
  4. BAE Systems wins £5bn Typhoon order
  5. Get in touch: bizlivepage@bbc.co.uk

Live Reporting

By Mary-Ann Russon

All times stated are UK

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  1. Good night!

    BBC testcard

    All good things must come to an end, and that's it from us for tonight.

    But don't fear - we'll be back bright and early at 06:00 on Tuesday with all the latest business news. Do join us then.

  2. Wall Street rises

    US flag

    Wall Street ended higher as investors prepared for an expected Federal Reserve rate rise this week.

    The Dow Jones Industrial Average rose 0.23% to 24,386 points, the S&P 500 gained 0.32% to 2,659.9 points, while the Nasdaq Composite added 0.5% to 6,875.

  3. Oil prices jump

    Kinneil terminal at Grangemouth
    Image caption: The Forties pipelines takes oil to the Kinneil terminal at Grangemouth

    Oil prices rose on Monday following the closure of the Forties pipeline for repairs.

    Brent crude rose about 2% to $64.69 a barrel, while US crude futures added 1% to $57.99.

    The pipeline, which can carry 450,000 barrels per day of crude from the North Sea to the Kinneil processing terminal in Scotland, has been operating at reduced capacity for about four days before the shutdown.

    "It is a supply concern not only because the pipeline transports a significant portion of North Sea crude oil output, but also because it may take weeks before the issue is resolved," said Abhishek Kumar at Interfax Energy's Global Gas Analytics in London.

    The market had expected the pipeline to return to service quickly and was surprised by the extended shutdown, said John Kilduff at Again Capital in New York: "It's a significant amount of crude oil in a market that has been the tightest for crude oil."

  4. Kaluuya's Golden Globe shock

    Daniel Kaluuya

    Daniel Kaluuya is one of several British actors and film types nominated for a Golden Globe for his breakout performance in Get Out.

    "I'm shocked ... disbelief ... what a surreal experience to be embraced by the community against innumerable odds," he said on Monday after the nominations were revealed in Los Angeles.

    "Get Out was born out of the genius mind of Jordan Peele to whom I will be forever grateful for believing in me and allowing me to help him tell a story so dear to him. A true once in a lifetime experience. Salute to the cast, crew and King Peele."

  5. McHygge?

    Hammock

    Scotland could offer visitors a rival to the Danish concept of Hygge, according to VisitScotland.

    The tourist body says the concept of Còsagach, which it defined as a feeling of being snug, sheltered or cosy, could be one of the trends of 2018.

    It's a close parallel to Hygge, a lifestyle trend in the UK in recent years, says VisitScotland.

    It says Còsagach - an old Gaelic word - is about encouraging businesses to create environments that "induce a feeling of warmth or cosiness" for tourists.

    More here.

  6. Richard Branson reignites row with Willie Walsh

    Richard Branson with Virgin Atlantic air stewardesses

    Sir Richard Branson has reignited a long-running row with Willie Walsh, the chief executive of British Airways owner IAG.

    In 2012, Mr Walsh bet that Virgin Atlantic would no longer exist in five years' time. Sir Richard disagreed.

    "Although people might be amused to see me give Willie a low blow, I ideally have no wish to do so. So to settle this matter once and for all, and in the spirit of Christmas, I suggest he donates £1 million to Virgin Atlantic’s team," Sir Richard wrote in a blog post.

    "If he doesn’t agree then we’ll just have to agree a time, date and place for the knee in the groin…"

    Virgin Atlantic still exists, although it is now owned by Delta Airlines and Air France-KLM, after Sir Richard gave up majority ownership in July.

  7. Ryanair pilots in Dublin vote to strike

    Ryanair aeroplane at an airport

    Ryanair pilots in Dublin have voted for strike action, after the airline declined to open negotiations over labour contracts.

    Ryanair said it had not received formal notification of a strike, and no date for the walkout has been announced.

    It added that the unspecified industrial action was backed by less than 28% of around 300 pilots based in Dublin for the airline.

    According to RTE, most of the 84 pilots directly employed by Ryanair voted for strike action over employment rights.

  8. How do Birmingham's financial credentials measure up?

    The two bulls of Liverpool and Wall Street

    With plans mooted to move part of the Bank of England from London to Birmingham, could the second city's landmark bull be set to give the charging bovine of Wall Street a run for its money?

    Probably not. But the move - put forward by Labour - would continue Birmingham's history as a city at the centre of financial progress.

    Birmingham was once home to the world's oldest mint - founded in 1794 - creating currency for more than 100 governments.All modern coins can be traced back to those first produced in the city.

  9. Mattel warns of gloomy times ahead

    Barbie doll and horse toy

    Mattel has revised its outlook for the year, warning that continuing negative trends in holiday sales could lead to an "additional gross margin deterioration".

    The troubled toymaker said in a US Securities and Exchange Commission filing that its operating income margin for Q4, excluding severance expenses, is expected to be significantly lower than the same period in 2016.

    The holiday shopping season, which dates from the week of Black Friday until the end of the year, makes up between 35-40% of the toy industry's sales.

  10. 'A liar and a hypocrite'

    BBC media editor Amol Rajan has penned some thoughts about Max Clifford, who died yesterday. Warning: they may not all be entirely positive.

    View more on twitter
  11. Who are America's poor?

    Graph showing working-age adults in the US who live below the poverty line

    Millions of jobs have been created in the US economy, but many Americans still live in poverty. Who are they?

    For nearly six years, the US economy has been generating huge numbers of jobs: nearly two million a year.

    Not only has the economic recovery replaced the total number of jobs lost during the Great Recession - which followed the bursting of the housing bubble in 2007 - but it has added enough to account for a growing population as well.

    Read more here.

  12. Why is Apple buying Shazam?

    Shazam app

    Scan your eyes over Apple's just-published list of the year's most popular iPhone apps, and there's one notable omission: Shazam.

    In fact, it's been a while since the song-identifying software squeezed its way into the iOS App Store's top 10.

    So, why has Apple confirmed it is "combining" its business with that of the smaller London company?

    Apple could want the app to improve Siri - read more here.

  13. The City could lose 10,500 jobs

    People walk along the Thames with the London skyline in view

    The City of London could lose 10,500 highly skilled jobs, as firms shift operations out of Britain by the first day of Brexit, according to Ernst & Young.

    EY's Brexit Tracker, which monitors 222 financial services firms, shows that banks, asset managers and brokers are now expecting client facing and "front office" roles to leave Britain because of Brexit.

    The jobs will likely be moved to cities such as Frankfurt, Amsterdam and Dublin.

  14. BreakingApple confirms Shazam deal

    Shazam

    Apple has confirmed that it is buying the UK music recognition app Shazam.

    While Apple was not forthcoming on how much it is paying for Shazam, technology news website TechCrunch says the company could pay as much as $400m (£299.5m).

    Apple said Shazam would be a "natural fit" with its music streaming service and it would help users discover new songs.

    A spokesman for Apple said Shazam "is used by hundreds of millions of people around the world, across multiple platforms. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today's agreement".

  15. Record child demand at food banks

    Record numbers of children are expected to be fed by food banks this Christmas, the UK's largest food charity The Trussell Trust has warned.

    View more on twitter
  16. London closes slightly ahead

    London Stock Exchange

    The FTSE 100 has closed up 0.8% or 59.5 points at 7453.48, pushed up by the weaker pound.

    The index was led by advertising giant WPP, which was up 2.5% to trade at £13.74.

    The biggest loser was Costa Coffee and Premier Inn owner Whitbread, down 2.8% to trade at £38.82 after its chief executive said the coffee and hotel chains are not yet ready to stand alone.

    Meanwhile, the FTSE 250 ended up 0.4% or 72 points to 20064.62.

    Hochschild Mining led the winners, up 7.2% to trade at 237.8p, while the top loser of the index was TalkTalk, down 9.8% to trade at 139.3p on the news that it will be forced to cut its dividend payout next year to meet its debt covenants.

  17. BreakingBritish spot gas surges on pipeline closure

    British wholesale spot gas prices have surged 22% on the news that the Forties pipeline in the North Sea has been shut down to repair a crack.

    Typically in the summer when the entire Forties system is taken offline for annual mainterannce, the UK loses around 43.7 million cubic metres of gas supply.

    Prior to the Forties announcement, gas prices were already rising, as demand lifted due to gas shortages as temperatures plunged.