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Live Reporting

Dearbail Jordan

All times stated are UK

  1. Good night!

    Test card F

    Thank you for joining us on Business Live today.

    We're back bright and early tomorow from 06:00 on what promises to be a busy day for business news.

  2. Fitbit cuts losses

    Fitbit

    Wearable device maker Fitbit reported a smaller quarterly loss, partly helped by lower costs.

    The net loss narrowed to $45.5m in the quarter to 31 December, down from $146.3m in the same period in 2016.

    Revenue fell $3m to $570.8m.

  3. US markets jump

    Wall Street

    Wall Street finished sharply higher on Monday for the second day in a row as stocks continued to move back toward January's peak levels.

    The Dow Jones Industrial Average gained nearly 400 points, or 1.6%, to close at 25,709, while the broader S&P 500 rose 1.2% to finish at 2,779.6 -- putting both indexes at their highest level this month.

    The tech-focused Nasdaq also added 1.2 to close at 7,421.4, its highest level since late January.

  4. What to expect from Powell

    Jerome Powell

    So what do investors think US Fed chairman Jerome Powell (pictured) is going to say when he appears before Congress this week?

    Art Hogan, chief market strategist at investment bank B. Riley FBR, says: "I don't think he's going to say anything dovish or hawkish - in an attempt to at least have the first appearance to be down the middle or balanced.

    "I surely think the current Fed would let some inflationary pressure run hotter than their target for a period without getting more aggressive."

  5. Aston Martin roars back into the black

    Aston Martin

    Aston Martin, James Bond's car maker of choice, sold just over 5,000 vehicles last year, allowing the firm to post its first annual profit since 2010.

    The British sports car producer made a pre-tax profit of £87m last year, compared with a £163m loss in 2016.

    Its flagship DB11 coupe proved popular with buyers, helping drive its sales tally to a nine-year high, Aston Martin said.

    It also confirmed it is considering a stock market listing.

    Read more here.

  6. Jane Walker to open up 'intimidating' scotch to women

    Scotch

    In a sign that we women really have arrived, Johnnie Walker is introducing a limited US edition scotch to be called "Jane Walker".

    According to the owner Diageo, the whisky will have a striding woman on the label as opposed to the usual top-hatted chap.

    Stephanie Jacoby, vice president of Johnnie Walker, told Bloomberg: “Scotch as a category is seen as particularly intimidating by women.

    "It’s a really exciting opportunity to invite women into the brand.”

  7. Oil prices gain on Saudi outlook

    Khalid al-Falih

    Oil is trading up on Monday.

    Brent crude is ahead 0.4% at $67.58 a barrel. West Texas Intermediate is up 0.5% at $63.88.

    On Saturday, Saudi Arabia's Energy Minister Khalid al-Falih said the country's production between January and March would be below output caps.

    He also said he hopes that Opec, the cartel of Middle East and African oil producing nations, and its allies can relax output cuts next year and create a permanent framework to stabilise markets after the current agreement ends this year.

    He said: "A study is taking place and once we know exactly what balancing the market will entail, we will announce what is the next step. The next step may be easing of the production constraints."

  8. Intel did not inform US about chip flaws

    Intel

    Computer-chip-maker Intel did not inform US cyber-security officials about the Spectre and Meltdown security flaws before details leaked to the press, it has been revealed.

    Letters sent by seven technology companies to US senators reveal that US authorities found out about the flaws only through the media.

    Details were first leaked to technology news siteThe Register on 2 January.

    The flaws were discovered by Google Project Zero's security researchers.

    Read more here.

  9. Goldman Sachs rethinks London property

    Lloyd Blankfein

    Goldman Sachs is weighing a plan to sell and lease back its new London headquarters, Bloomberg reports.

    The building, which can accommodate up to 10,000 staff, could go for more than £1bn.

    Bloomberg says the price is a sign of a strong buyer demand for London property.

    The deal could also provide Goldman with some additional flexibility if staffing does not grow as expected due to factors like Brexit.

    In October, Goldman chief executive Lloyd Blankfein (pictured) posted a photo of the new offices under construction on Twitter.

    "Expecting/hoping to fill it up, but so much outside our control.#Brexit," he wrote.

  10. Video content

    Video caption: If Nafta trade deal was a hamburger...

    President Trump wants to scrap the US trade deal with Canada and Mexico, Nafta. But how does it work?

  11. GE shares sink further as more problems emerge

    General Electric logo

    General Electric's share price briefly fell below $14 on Monday in response to new issues at the US conglomerate.

    GE said on Friday it was cooperating with a US Department of Justice investigation connected to subprime mortgages. It also expects profits to be lower as it restates its 2016 and 2017 results.

    On Monday, GE said three new people will be appointed to its board.

    They are Leslie Seidman, a former JP Morgan vice president and chair of the Financial Accounting Standards Board; Thomas Horton, who oversaw the restructuring and merger of American Airlines with US Airways and Lawrence Culp, the former chief executive of Danaher Corporation, the industrial and consumer products group.

  12. White knight steps in for Jones rescue

    Jones the Bootmaker

    A deal to buy Jones Bootmaker has saved hundreds of jobs at the troubled high street shoe chain.

    York-based retailer Pavers will buy 42 of its 47 stores, as well as the brand and website, saving 389 jobs.

    It is the second time Jones has changed hands in the past year, having been bought by private equity house Endless last spring for £11m.

    Endless said: "Despite substantial investment and best efforts, the recent adverse retail conditions have meant that the Jones business could not be turned around and needed to be part of a larger group."

    The takeover excludes Jones' head office where about 50 jobs will be lost.

  13. Broadcom gives short shrift to Qualcomm

    Qualcomm

    A deal between US chipmakers Broadcom and Qualcomm seems as far away as ever.

    In what appeared to be a step forward, Qualcomm said earlier on Monday that the two companies should discuss price and conduct due diligence on each other.

    However Broadcom, which made an original $103bn bid for Qualcomm back in November, now says the process outlined by Qualcomm on Monday is not designed "to lead to a prompt agreement".

    It adds: "Qualcomm's disingenuous process defers the question of price, even after Qualcomm's presiding director Tom Horton last week publicly stated that the Qualcomm board views Broadcom's proposed price as "not even close."

  14. US stocks head higher

    Stock market trader

    The Dow Jones Industrial Average is now ahead by more than 300 points.

    It is up 335.64 points, or 1.3%, at 25,645.63.

    The S&P 500 is ahead 24.77 points at 2,772.16.

    The Nasdaq is up 61.31 points at 7,398.58.

  15. The calm before the storm

    GKN

    Although Monday has been light on company financial announcements, the rest of the week is choc-a-block with full-year results.

    On Tuesday, the big one to watch out for is GKN, which is currently trying to fight off a £7.5bn bid by buyout business Melrose.

    On Wednesday, broadcaster ITV is likely to garner much of the attention when it unveils annual figures.

    For Thursday, advertising giant WPP will be a focus as will Capita, the outsourcing giant.

    On Friday, the London Stock Exchange reports its full-year financials.

  16. Trump: Tariffs will bring steel back to US

    Donald Trump also says that he wants to bring the steel industry back to the US, even if it means applying tariffs to imports from other countries.

    The US president told a gathering of state governors at the White House: "I want to bring the steel industry back into our country. If that takes tariffs, let it take tariffs, OK? Maybe it will cost a little bit more, but we'll have jobs."

  17. Trump: We want fair trade deals

    Donald Trump

    Donald Trump is speaking to governors and has touched on US trade. He says that the World Trade Organisation makes fairness almost impossible.

    He says: "We want fair trade deals. We want reciprocal trade deals."

  18. London stocks close higher

    The FTSE 100 closed 45.17 points higher at 7,289.58.

    Mining giant Anglo American led the risers, up 3% at £18.43.

    Shopping centre group Hammerson - which may drop out of the FTSE 100 in the next quarterly reshuffle on Wednesday - was the biggest faller, down 2.1% at 465.8p.

    The FTSE 250 ended up 27.68 points at 19,828.73.