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Live Reporting

By Dearbail Jordan

All times stated are UK

  1. Good night

    Test card F

    Thank you for joining us on Business Live.

    We'll be back on Tuesday morning at 6.00am sharp when the big news will be the latest inflation figures for January.

    See you then.

  2. The male jumpsuit - coming to an office near you?

    Vivenne Westwood debuted a male jumpsuit during London Fashion Week last year
    Image caption: Vivenne Westwood debuted a male jumpsuit during London Fashion Week last year

    Are casual Fridays still a thing?

    Business Live hopes so because has fashion got a treat in store for the sartorial gent - the jumpsuit!

    That's right, apparently the male jumpsuit is having a moment and a brave chap from the Wall Street Journal wore one to see what all the fuss is about.

    Paul Newman donned one in his heyday so they must be cool - although that was back in the 1970s.

    Will we see the jumpsuit in the City of London or perhaps on Wall Street?

    One can only hope...

  3. Monday market winners

    The announcement of President Trump's infrastructure spending plan helped materials and industrials.

    Top winners on the Dow on Monday were American Express (up 3.55% after an analyst upgrade), Boeing (up 3.49%) and Dow Dupont (up 3.37%).

  4. US stock markets close

    US stock market traders

    The Dow Jones Industrial Average rebounded by 410 points on Monday to close at 24,601.27.

    That was a rise of 1.7%.

    The broader-based S&P 500 gained 1.4% to end the day at 2,655.73.

    The tech-rich Nasdaq advanced 1.5% to 6,976.65.

  5. End of story?

    Harvey Weinstein

    On Sunday it looked like the credits were set to roll on discussions between the troubled Weinstein Company and prospective investors, led by businesswoman Maria Contreras-Sweet.

    New York's Attorney General filed a lawsuit against the studio, alleging it failed to protect employees from sexual misconduct, making the whole deal a lot less attractive. Variety reported that talks had stalled as a result.

    Now though, the news agency AFP says they could still be on. They quote an anonymous source admitting that the discussions are however "very fluid".

    So we'll have to wait and see.

  6. Where next for US stock markets?

    Is Monday's rise in US stocks the end of steep falls witnessed last week?

    Not so fast, says Mark Luschini, chief investment strategist at Janney Montgomery Scott. "It's too soon to tell if it's a counter trend rally that's sustainable," he says.

    While Jeff Schulze, investment strategist at ClearBridge Investments, says: "I do believe we haven't seen the low, we're pretty close to it and that this is a buying opportunity, just longer term in nature."

  7. WW2 bomb near City Airport moved

    Bomb disposal

    The Metropolitan Police said that a 500kg Second World War bomb which has disrupted dozens of flights at London City Airport has been moved.

    It said that the device has been taken to a secondary location within the King George V dock. Residents displaced by the initial operation can now return home.

    However, Robert Sinclair, chief executive of London City Airport said that the airport would remain closed for the rest of the day.

    Lieutenant Commander Jonny Campbell who is in charge of the diving unit which is disposing of the device, told PA what would happen next.

    "We intend to attach a flotation device to the bomb which will then gently raise it clear of the seabed, but it will still be covered by water which will act like a blanket to absorb the effect of any explosion. It will always remain under water.

    "We will tow it down the Thames out into the estuary and we'll take it to a site where we will conduct a controlled explosion and neutralise the threat."

  8. Broad-based rise in US stocks

    The S&P 500 is also powering ahead and is now up 49.08 points at 2,668.63.

    The Nasdaq has added 137.07 points to 7,010.14.

  9. Remington reaches bankruptcy deal with creditors

    Remington gun

    Remington Outdoor Company, the US gun-maker, has reached a deal with its creditors to file for Chapter 11 bankruptcy protection to deal with its $950m debt pile.

    The company said it will receive $145m in financing to fund the business through the Chapter 11 process.

    Remington is hoping to write off around $700m in debt.

    Its chief executive Anthony Acitelli says: "We have an outstanding collection of brands and products, the unqualified support of a vibrant community across the industry, and a deep and powerful culture.

    "We will emerge from this process with a deleveraged balance sheet and ample liquidity, positioning Remington to compete more aggressively and to seize future growth opportunities."

  10. Equifax under pressure after hack attack

    Equifax

    Equifax is facing a fresh demand to disclose the full extent of last year's data breach, following a report that it was bigger than previously disclosed.

    The Wall Street Journal (WSJ) reported that cyber-thieves had accessed US citizens' email addresses, tax ID numbers and more driver licence information than acknowledged earlier.

    US Senator Elizabeth Warren is now demanding details of any other data the firm believes may have been stolen.

    Read the full story here.

  11. US stocks near 500 point rise

    It looks like the Dow Jones Industrial Average has cemented Monday's rise and is now up 489.25 points at 24,680.15.

    That's a rise of 2%.

  12. Oil prices trim gains

    Oil pipeline

    On Wednesday, the International Energy Agency will publish its monthly Oil Market Report.

    Oil prices have been positive on Monday helped by a weaker dollar though gains have been trimmed in afternoon trade.

    Brent Crude is up 0.5% at $63.10 and West Texas Intermediate is ahead 0.9% at $59.73.

    Fiona Cincotta, senior market analyst at City Index, says: "Oil had been hit by concerns over increasing US oil production, a stronger dollar last week and general risk aversion in the market as equities sold off.

    "However, whilst the dollar has eased back and oil has rallied today, there are still a number of factors working against oil which could still weigh on the price going forward."

  13. Infrastructure plan boosts stocks

    US President Donald Trump unveils his infrastructure plan
    Image caption: US President Donald Trump unveils his infrastructure plan

    Donald Trump's infrastructure announcement appears to be giving stock markets a boost.

    Reflecting on last week's gyrations, Ken Polcari, director of the NYSE floor division at O'Neil Securities, says: "I think the market was way, way oversold, way too fast and therefore there's this natural bounce."

    But he adds: "There's news coming out about the budget, fiscal stimulus and infrastructure plan that is adding fuel to the fire. People are very positive about it."

  14. Investors send US shares higher

    US stocks continue to head upwards.

    After last week's roller coaster ride, the direction is all one way on Monday with the Dow Jones Industrial Average up 377.54 points, or 1.56% at 24,568.44.

    The S&P 500 is ahead 1.31% or 34.26 points at 2,653.81.

    The Nasdaq has added 93.52 points to 6,968.01.

  15. BP 'committed' to post-Brexit Britain

    BP

    You don't get more British than British Petroleum, according to the oil giant's chief executive Bob Dudley.

    Mr Dudley has been attending the Egypt Petroleum Show where he was asked by CNBC if BP's head office will remain in the UK regardless of how Brexit talks conclude.

    "No, no, we're deeply committed, I mean it's a great British company, it's been around for a century — absolutely, BP is there," he said.

    "It's not for me to speak for Britain by the way, on the negotiations, so nobody should misunderstand that, but for BP, (we're) deeply committed to Britain, we will be around for a long, long time."