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Live Reporting

By Chris Johnston and Szu Ping Chan

All times stated are UK

  1. Good night

    BBC Testcard

    That's it for this week on Business Live - thanks for reading. We'll be back bright and early at 06:00 on Monday.

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

  2. Wall Street ends lower

    Wall Street

    Shares on Wall Street have ended lower, after White House economic adviser Larry Kudlow weakened optimism over US-China trade talks in a CNBC interview today.

    Apple is also on track to have its lowest session since 2014, as shares dropped due to a disappointing forecast.

    The Dow Jones Industrial Average closed 110 points or 0.4% down to 25,270.83. Top of the losers was Apple, down 7.5% to $205.67, followed by Intel, which slid 2.2% to $47.17 after a Bloomberg report said Microsoft was to buy Xilinx's data centre chips.

    The S&P 500 ended 17.6 points or 0.6% lower to 2,722.73. Credit card issuer Synchrony Financial led the losers, dropping 10.2% to $26.43, after Walmart sued it for allegedly breaching terms of its contract with Walmart.

    And finally, the tech-heavy Nasdaq closed 77 points or 1% down to 7,356.99. The losers were led by the Kraft-Heinz Company, which fell 9.7% to $50.73 after reporting earnings results far lower than analysts expected, followed by Apple.

  3. 'A very good deal'

    US and Chinese flags

    US President Donald Trump still seems to be positive about resolving the the trade dispute between US and China, despite all the tariffs now imposed on US goods.

    "I think we will make a deal with China," he told journalists at the White House. "I think a very good deal will be made with China."

    Markets have soared on reports that the two sides are closing in on a deal that would avoid Washington piling on still more tariffs against Chinese imports.

    "We are getting much closer to doing something," Trump said. "A lot of progress has been made."

    However, White House economic adviser Larry Kudlow told CNBC today that President Trump still has not asked US officials to draw up a proposed trade plan, which has shaken markets.

  4. Finger finger shock

    Fish fingers

    Who knew? Fish fingers are surprisingly sustainable and some of the best products to buy are also the cheapest, according to the Marine Conservation Society.

    Some 85% of the fish in 48 supermarket own-brand and branded fingers came from sustainable sources, its study found.

    The MCS's Rajina Gurung said it was an "unexpected" result, adding it was hard for shoppers to know the source of the fish at a glance due to poor labelling.

    Choosing sustainable products "will help protect the ocean", she said.

    More here.

  5. VietJet's $6.5bn Airbus deal

    VietJet

    Vietnam's fast-growing airline VietJet is buying 50 Airbus planes worth $6.5bn.

    French Prime Minister Edouard Philippe attended a signing ceremony in Hanoi for the deal for A321neo planes.

    Reuters notes that the airline is "famed for its bikini-clad air hostesses"...

  6. Christmas arrives early...

    Argos TV ad

    Just can't wait for Christmas? Neither can Asda and Argos it seems: the retailers launch their festive ad campaigns tonight.

    The supermarket's Bring Christmas Home commercial premieres during Emmerdale on ITV at 7.15pm, while the Argos promotion (pictured) appears later on ITV during Coronation Street and Channel 4's Gogglebox from 9pm.

    Currys PC World is also hitting the small screen with its festive offering showing the potential of modern-day technology to upgrade Christmas.

    Scenes show carol singers using tablets in place of hymn books and a woman using a smart speaker to play Christmas tunes, through to a street vendor selling roast chestnuts that have been heated to perfection in a steam oven.

  7. All smiles...

    FT journalist Federica Cocco has cheered up Friday afternoon enormously with these glorious pictures.

    Readers can win a day's work experience on Business Live if you correctly name the suspects, sorry chief executives.

    View more on twitter
  8. Barclays and Lloyds suffer in stress tests

    Barclays

    Barclays and Lloyds Banking Group are among the worst performers in the latest European Union-wide stress tests.

    Analysts have said banks that fail to complete the "adverse" or toughest part of the test without preserving a capital ratio of well above 5.5%, when all new and planned capital rules are applied, may have to raise more capital or sell risky assets.

    While none of the 48 lenders tested broke below 5.5%, Barclays ended with a ratio of 6.37%, Italy's Banco BPM was on 6.67% and Lloyds on 6.8%. Capital at the UK banks were particularly hit due to their exposure to credit other than secured loans such as mortgages.

    These were the EBA's toughest test yet, but banks started out with higher capital buffers than in the past.

    UK banks are awaiting next month's results of a separate annual stress test conducted by the Bank of England.

  9. FTSE dips

    The FTSE 100 has ended the week on a disappointing note, down 0.3% at 7,094 points after being up more than 0.7% this morning.

    "Given the surge over the past week in equities, and the looming weekend, traders were always likely to be hunting for a reason to cut back on exposure at the end of the week, and so it has proved," said Chris Beauchamp, chief market analyst at IG. "The drop has put a dent, but not a fatal one, into the current move higher."

    Frankfurt and Paris managed to stay in positive territory, however, but also had earlier sharp rises eroded by falls on Wall Street.

    Milan was the best-performing major European market, adding more than 1%.

  10. Oil keeps falling

    Oil rig

    Oil has extended its slide to six-month lows after the US said eight countries could keep buying Iranian oil when sanctions against Tehran kick in this weekend.

    American supplies have also surged, easing concerns of an impending shortage.

    Brent crude has fallen almost 7% this week to $72.66 a barrel.

    Japan, India, South Korea, Turkey are among the countries that have reportedly received an exemption.

    US secretary of state Mike Pompeo said the European Union did not receive an exemption.

  11. Pound slips

    Pounds and dollars

    The pound has lost ground and is now trading at $1.2982 - but remains on course to post its biggest weekly gain against the dollar since March.

  12. Senior trouble

    A downgrade from Barclays appears to be the reason why a company you may not have heard of, Senior, has claimed the wooden spoon today as the biggest FTSE 250 faller.

    The bank has cut its target price from 350p to 310p. However, shares are down more than 7% at 258p, so Barclays might be getting the red pen out again sometime soon we suspect.

    Senior "designs, manufactures and markets high-technology components and systems for the principal original equipment producers in the worldwide aerospace, defence, land vehicle and energy markets", by the way.

    On the FTSE 100, which is now flat at 7,116 points after rising earlier, the biggest faller is GlaxoSmithKline, off 2%.

  13. More rail strikes loom

    RMT flag

    Workers on Arriva Rail North will stage seven fresh strikes on Saturdays until the end of the year in the long-running dispute over guards.

    Members of the Rail, Maritime and Transport (RMT) union will walk out for 24 hours on 17 and 24 November, and on 1, 8, 22 and 29 December.

    The new action will take the number of strikes against the company to 43 since the bitter row over the role of guards on trains flared.

    Strikes had already been announced for the next two Saturdays, leading to huge disruption to services.

    The RMT will also will ballot workers on Great Western Railway for industrial action over the sacking of a guard based at London Paddington station.

  14. Apple drags down Wall Street

    iPhones

    Well that didn't last long: Wall Street is now lower, with Apple falling 6.6% and dragging down technology stocks after it gave a disappointing forecast, adding to fears of a slowdown in corporate growth.

    The Dow and the S&P are both 0.35% lower, while the Nasdaq is off 1.1%.

  15. The lastest tough leader

    Speaking of the Dear Leader (Trump that is, not his Chinese counterpart), he has of course expressed admiration for the world's strong men such as Russia's Vladimir Putin.

    One man clearly hoping to join the club is Turkmenistan president Gurbanguly Berdimuhamedow, complete with golden bar and applauding cabinet.

    Hat tip to analyst Marcel Dirsus for this gem:

    View more on twitter
  16. Alibaba falls short

    Alibaba logo

    Alibaba has reported lower-than-expected quarterly revenues and lowered its full-year guidance by 5% following slowing advertising spend and cooling consumer demand.

    Revenue for the three months to September hit 85.1bn yuan ($12.4bn), just missing analysts' forecasts of 86.5bn yuan.

    Although its revenues were still 55% higher, this is still a sign of slowing momentum for China's giant e-commerce platforms and its economy.

    Growth in advertising spend - which accounted for more than half of total sales and commissions - is also slowing, increasing by only 27% year-on-year in the quarter, compared to 55% in the same period last year.

    In October, spending by Chinese consumers was lacklustre during the country's National Day bank holiday, with sales rising 9% compared with 14% the year before. However, it is typical for spending to fall before Singles Day on 11 November.