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Summary

  1. Babcock slams 'false and malicious' claims
  2. Johnston Press shares surge on i sale talk
  3. Pound volatile on Brexit nerves
  4. Former UBS trader detained
  5. Apple drags US stock market lower
  6. Oil price falls back after Trump tweets
  7. Diageo sells 19 brands for $550m
  8. Get in touch: bizlivepage@bbc.co.uk

Live Reporting

By Jill Treanor

All times stated are UK

  1. Goodnight

    Goodnight, that's it from us tonight. Don't worry we'll be back again at 6am tomorrow so make sure you join us again then.

  2. Xiaomi criticised for UK smartphone £1 flash sale

    screen image
    Image caption: Only three Mi 8 Lite phones could be bought in the first flash sale

    "Flash sales" publicising a Chinese smartphone company's UK launch have sparked a backlash on social media.

    Xiaomi advertised two of its new handsets for £1 each last week as part of a "crazy deals" promotion.

    But it has emerged that each flash sale involved only two or three phones and Xiaomi had set its website to say: "Sold out," as soon as the sale opened.

    The UK's ads watchdog said it had received a complaint and was now deciding whether to investigate.

    Read the full story.

  3. Wall Street ends lower

    trader

    Wall Street has ended lower as sharp falls in both Goldman and Apple combined to hit investor confidence.

    The Dow Jones Industrial Average fell 602.12 points, or 2.32%, to 25,387.18, the S&P 500 lost 54.79 points, or 1.97%, to 2,726.22 and the Nasdaq Composite dropped 206.03 points, or 2.78% to 7,200.87.

  4. May: Brexit talks in endgame

    Theresa May

    Negotiations over the UK's departure from the EU are "now in the endgame", Theresa May says.

    Addressing the Lord Mayor's Banquet in the City of London, the prime minister said the talks were "immensely difficult", but the sides were working "through the night" to make progress.

    "This will not be an agreement at any cost," the PM added.

    She is under pressure from both sides of the EU debate as she tries to seal a deal in time for Brexit in March.

    Read more here

  5. Oil price decline deepens

    oil rig

    Brent crude has lost over a dollar a barrel, dropping $1.14 to $69.04.

    While US benchmark West Texas Intermediate is $1.4 dollars lower at $58.80, falling for the 11th day in a row.

    The falls deepened after US President Trump's tweet that he hoped there would be no oil output reductions, after Saudi Arabia said on Sunday that Opec was considering cutting supply next year due to softening demand.

  6. Coty connections

    Coty logo at the NYSE

    Returning to the management changes at Coty, the US cosmetics company mentioned earlier.

    JAB Holding - run by the German Reimann family - owns 39% of the business and also has a stake in Jacobs Douwe Egberts, the coffee company the new Coty chief executive Pierre Laubies used to run.

    The former Coty chairman Bart Becht and his replacement Peter Harf both have senior roles at JAB.

    Mr Becht used to run the London-listed company Reckitt Benckiser until 2011 where he was paid £93m in 2009.

  7. Marvel Comics co-creator dies aged 95

    Stan Lee

    American writer and Marvel Comics co-creator Stan Lee has died at the age of 95.

    Lee and Jack Kirby founded the company in 1961, beginning with The Fantastic Four and going on to create titles such as Spider-Man and The Incredible Hulk.

    Lee's wife, Joan, died in 2017 - also aged 95 - but he is survived by his daughter, JC Lee.

    Speaking to websiteTMZ, JC said her father was "the greatest, most decent man".

    Find more detail here.

  8. More on Goldman

    As mentioned earlier, shares in Goldman Sachs are down sharply because of the financial scandal around Malaysia's development fund, 1MDB.

    Bloomberg is reporting that Malaysia's Finance Minister Lim Guan Eng is calling for Goldman to repay the fees it was paid for doing deals for the fund.

    Goldman did not comment to Bloomberg.

  9. Ex-Stobart boss denies improperly taking £5m in expenses

    Andrew Tinkler
    Image caption: Andrew Tinkler denies any wrongdoing

    The former boss of the Stobart Group has denied improperly taking £5m of "so-called expenses" amid court claims he had his "own interests at heart".

    Andrew Tinkler was sacked as chief executive at the Carlisle logistics firm - known for its green trucks - for alleged breach of contract in June.

    The High Court heard he was trying to oust chairman Iain Ferguson.

    The court is considering whether Mr Tinkler - who denies any wrongdoing - was lawfully dismissed.

    There's more here.

  10. More on oil

    Oil prices had been higher on the day until Donald Trump's tweet about production by Saudi Arabia and Opec, which had indicated earlier that they thought weakening demand would require a cut of supply.

    The closely-watched West Texas Intermediate measure of the price of crude fell 17 cents a barrel to $60.02.

  11. Trump on oil

    US President tweets

    View more on twitter

    Oil prices rose earlier after Saudi Arabia, the leading member of the OPEC oil producing cartel, said it will cut output.

  12. Adoboli detained

    Kweku Adoboli

    Kweku Adoboli, the former UBS trader convicted of fraud, was detained when he attended his weekly appointment earlier today.

    His spokesperson said he had been transported to the Harmondsworth Immigration Removal Centre.

    Adoboli has been fighting deportation to Ghana, where he was born and left at the age of four. He has lived in the UK since he was 12.

    Foreign nationals sentenced to more than four years are automatically considered for deportation.

    He was released from prison in 2015 after serving four years of a seven-year sentence for a £1.4bn fraud at Swiss bank UBS.

  13. Amazon in bear terrority

    Amazon parcels

    Apple is not the only tech stock having a difficult time on the stock market.

    Amazon's share price is also falling and according to calculations by CNBC is now in bear market territory because they are down 20% from their high in September.

    Like Apple, Amazon had reached a stock market value of more than $1 trillion.

  14. Goldman falls

    Goldman Sachs logo

    Weakness in Goldman Sachs' share price is another factor behind the slide in the US stock market today.

    Its shares are off 6% in continued fall-out from one of the world's biggest financial scandals.

    Earlier this month two former Goldman Sachs bankers were among those hit with US criminal charges from the US Department of Justice which alleges that they participated in a scheme that stole billions of dollars from Malaysia's development fund, 1MDB.

    There's more on that story here.

  15. FTSE close

    The FTSE 100 index has fallen into the close, on track to end more than 0.7% lower at 7,053.

    Markets in other parts of Europe are also lower. The Dax in Germany is down more than 1.5% and the French market is down nearly 1%.

    In the US, the Dow is still down around 400 points.

  16. Sterling stumbles

    one pound coin

    The pound had bounced earlier on a report indicating that Michel Barnier, the EU's Brexit negotiator, had said the main elements of a Brexit text were ready.

    Since then Theresa May's spokesman has downplayed the prospect of a deal and said that "negotiations were ongoing".

    The pound's bounce back is now largely over and the currency is at $1.2872.