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Summary

  1. Stock markets gyrate on inflation news
  2. US inflation higher than expected
  3. Sky shares above Fox offer price
  4. Persimmon boss to set up charitable trust
  5. Galliford Try raises £150m
  6. GKN outlines Melrose defence

Live Reporting

By Mary-Ann Russon

All times stated are UK

  1. Good night

    BBC Testcard

    That's it for Wednesday on Business Live.

    We'll be back bright and early at 06:00 tomorrow.

    Do join us then for all the latest breaking news and analysis from the business world.

  2. Labour's pet promise

    Dog

    Labour wants to strengthen the rights of tenants to keep a pet in their properties as part of a package of proposed animal welfare measures.

    Some rental agreements drawn up by landlords insist on no animals.

    Tenants can seek permission to keep pets but Labour wants a default right for them to do so unless there is evidence their pet will be a nuisance.

  3. Wall Street closes up

    Wall Street

    Wall Street shares closed up on Wednesday, as the market shrugged off US inflation data and tech shares rose.

    The Dow Jones rose 1.03% to 24,893 points.

    The S&P 500 climbed 1.34% to 2,699.

    And the tech-heavy Nasdaq was up 1.86% to 7,144.

  4. Would you share your DNA to find love?

    This Valentine's Day, your smell could hold the key to your romantic future.

    One online dating app uses your DNA and pheromones to match you with a partner - but how reliable is it?

    View more on twitter
  5. Why being fired isn't always a bad thing

    Oil rig

    You'd think that being fired from your job is never a good thing, but it can be a way to "make it big" in the oil industry - if you're high up in the pecking order.

    Just ask James Bennett, the chief executive of SandRidge Energy, who was dismissed last week with a severance package worth at least $14m, according to Bloomberg.

    That figure isn't even the most the firm has ever awarded. When SandRidge Energy's founder Tom Ward was pushed out of the company in 2013 due to investor unrest, he received a $90m severance.

  6. Tesla's Chinese dream isn't going so well

    Tesla car steering wheel

    Elon Musk is failing to move forward with getting Tesla cars sold in the world's biggest electric vehicle market, due to a legislative hitch.

    Under Chinese law, all foreign carmakers must partner with Chinese companies if they want to open a factory to manufacture in the country.

    However, Tesla wants to own the factory completely, and so after over seven months' of negotiations, Tesla and the Shanghai government have failed to come to an agreement, reports Bloomberg.

  7. Apple's HomePod speakers leave white marks on wood

    White mark on wooden furniture caused by Apple HomePod speakers

    Apple's new smart speakers can discolour wooden surfaces, leaving a white mark where they are placed, the firm has acknowledged.

    The US company has suggested that owners may have to re-oil furniture if the HomePod is moved.

    The device went on sale last week after having been delayed from its original 2017 release date.

    Apple told Pocket-lint that it was "not unusual" for speakers with silicone bases to leave a "mild mark".

  8. FDA approves Johnson & Johnson cancer treatment

    Johnson & Johnson logo

    The US Food and Drug Administration has approved Johnson & Johnson's Erleada treatment for use with prostate cancer patients whose cancer has not spread but continues to grow despite hormone therapy.

    The drug is the first FDA-approved treatment for non-metastatic, castration-resistant prostate cancer.

  9. Groupon shares fall

    Groupon booth

    Groupon's shares have fallen on the news that the discount deals website failed to meet profit expectations for the first time in two years.

    Shares in Groupon fell 11.54% or 0.6 points to $4.60 after reporting fourth quarter net income of $47.7m, a loss compared to the same period in the previous year.

  10. Rising trade tensions

    Shipping containers in New York

    The US Commerce Department says Chinese manufacturers of cast iron soil pipe fittings have dumped products in the US below cost, a preliminary decision that could lead to tariffs.

    The US will start collecting duties on imports based on the initial determination. A final decision is expected later this year.

    The decision comes amid rising trade tensions between the US and China.

    The investigation of the pipe fittings was triggered by petitions from US companies. The US government has also initiated some broader Chinese trade investigations, including into intellectual property practices.

  11. AI does grunt work

    Pigs in a farm

    Artificial intelligence technology has been developed to help piglets survive their first months - and then to decide which sows to kill.

    The scheme is being rolled out in China, the world's biggest producer and consumer of pork.

    It marks the latest deployment of tech giant Alibaba's ET Brain cloud computing service.

  12. The business of romance

    BBC World

    Romantic novels are big business, and in the US alone, more than $1bn of them are sold each year.

    Joanne Grant, editorial director of the Harlequin Series - known as Mills and Boon in Britain - tells BBC World News why romance novels never seem to go out of style.

    View more on twitter
  13. London closes on a high

    London Stock Exchange

    London shares closed on a high on Wednesday, helped by engineering giant GKN, which revealed plans to sell parts of its business to prevent a possible takeover from turnaround specialist Melrose.

    The FTSE 100 closed up 45.96 points or 0.64% at 7,213.97, led by gold mining business Randgold Resources, rising 4.8% to £63.86.

    The FTSE 250 meanwhile saw a 128.3 points or 0.66% rise to 19,448.38. Provident Financial topped the index, climbing 8.5% to 714.2p after cutting ties with rugby league team Bradford Bulls.

  14. BGIS wins Carillion contracts

    Carillion flag

    Canadian firm BGIS has been awarded a large number of hospital, education, justice, transport and emergency services contracts from collapsed construction giant Carillion.

    It is not known how much the deal is worth, but it will see BGIS take on over 2,500 Carillion employees.

    "This deal provides continuity of services for a large number of customers providing critical infrastructure within the UK market," said BGIS chief executive Gord Hicks.

    "Our team is looking forward to engaging both customers and employees in the days ahead to effect the transaction and ensure a smooth transition."

  15. Oxfam direct debit donations fall

    Oxfam badge

    More than 1,000 people cancelled their regular donations to Oxfam over the weekend as more claims about a sexual misconduct scandal emerged.

    Oxfam confirmed that 1,270 direct debit payments were stopped across Saturday, Sunday and Monday.

    The number is far above the average cancellation rate of 600 per month.

    The charity is at the centre of allegations that staff working for Oxfam in Haiti and other countries paid vulnerable people for sex.

  16. JP Morgan lowers US economic growth estimate

    JP Morgan sign

    JP Morgan says it has lowered its outlook on US economic growth in the first quarter from 3% to 2.5% due to "ugly" data on domestic retail sales in January offsetting a "scorching" consumer price report.

    "Today's inflation reading should probably cement in place the Fed's intent to hike rates at the March FOMC meeting," JP Morgan economist Michael Feroli wrote in a research note.

    "We now also think the odds are moving up that they also revise their guidance at that meeting from looking for three hikes this year to four, aligning with our view."

  17. Search tool lets users access files in AWS servers

    A bucket of water

    A website created by anonymous hackers has been launched that allows anyone to search for sensitive data stored in the cloud.

    Buckhacker is a tool that trawls servers at Amazon Web Services (AWS), a popular cloud computing platform.

    AWS provides data storage to private firms, governments and universities, among others.

    Exposed data has been found on it before, but Buckhacker makes searching for it much easier.

  18. Could it be a blip?

    BBC World Service

    Thomas Gift, a lecturer of political science at UCL, tells BBC World Service why he thinks the latest CPI data could just be a blip...

    View more on twitter