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Live Reporting

Mary-Ann Russon

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 at a two-week high

    Wall Street trading floor

    Wall Street shares have ended at their highest point in two weeks,

    The Dow Jones Industrial Average rose 746.94 points, or 3.29% percent, to 23,433.

    The S&P 500 finished 84.05 points better off, a 3.43% gain, to 2,531.94.

    And finally, the tech-heavy Nasdaq added 275.35 points, or 4.26 percent, to 6,738.86.

  3. Trump would consider declaring national emergency

    The US - Mexico border fence in Playas de Tijuana, Baja California state, Mexico

    Now President Donald Trump is threatening to use emergency powers, such as declaring a national emergency, in order to get money redirected from government departments to fund the US-Mexico border wall.

    "Yes, I have," Trump told a reporter who asked if he had indeed considered using those powers. "I could do it if I wanted."

    "I haven't done it, I may do it. I may do it. But we can call a national emergency and build it very quickly and it's another way of doing it," he said.

    "But if we can do it through a negotiated process, we're giving that a shot. Is that a threat hanging over the Democrats? I'd never threaten anybody but I am allowed to do it."

  4. Oil prices rise on US-China trade talks

    Crude oil tankers on a train in Montana

    Oil prices rose on Friday following news of proposed trade talks between the US and China eased investor fears of a global economic slowdown, but these were capped slightly by news that the US had built up fuel inventories.

    Brent crude rose $1.11 or 1.98% to $57.06 a barrel, while West Texas Intermediate (WTI) crude gained 87 cents or 1.85% to $47.96 a barrel.

  5. Trump prepared to shut government for years

    Video content

    Video caption: Trump would shutdown government for months

    The US president now says he wants the government to reopen, but is prepared to keep it closed long-term.

  6. Eurozone banks in 'sorry state'


    The former chief executive of Deutsche Bank, Josef Ackermann, has written in the Financial Times about the need for stronger banks

    "Ten years after the financial crisis, the US - the site of the most spectacular bank failures of the crisis - dominates the global capital market business. While US banks are thriving again, banking in the eurozone, particularly investment banking, is in a sorry state. American banks are more profitable and healthier overall than their European competitors, which are in danger of falling behind," he writes.

    He does not mention his former employer Deutsche Bank directly but for the last three years it has faced repeated questions about its financial health.

    He is now chair of Bank of Cyprus.

  7. Trump 'isn't going to back off' on shutdown

    Democratic Speaker of the House Nancy Pelosi holds a press conference on 4 January 2019

    The White House said the president "isn't going to back off" as he met congressional leaders for negotiations on the partial government shutdown.

    President Donald Trump is refusing to sign any budget without funding for a US-Mexico border wall, which Democrats are adamantly against.

    After talks, Democrat Chuck Schumer said Mr Trump vowed to keep government shut for "months or even years".

    Around 800,000 federal workers have been without pay since 22 December.

  8. German car sales hold steady despite diesel scandal

    VW logo

    Months of disruption to the German car industry from new emissions tests barely dented annual sales figures in 2018, official data shows.

    A total of 3.44 million new cars were registered on the roads last year, the KBA transport authority said, 0.2% lower than in 2017.

    The annual figure smooths out wide variations in monthly deliveries. Carmakers rushed as many vehicles out of factory doors as possible in the months before the new Europe-wide emissions tests came into force in September.

    That month saw registrations tumble before a rebound in the final quarter, although at 237,000 December's figure was still down 6.7% year-on-year.

    The tougher Europe-wide emissions tests are one of the political responses to Volkswagen's "dieselgate" emissions cheating scandal.

    VW admitted in 2015 that it manipulated 11 million diesel-fuelled cars worldwide to appear less polluting during laboratory tests than on the road.

    The hangover for diesel has been harsh, with just 32.3% vehicles sold in Germany last year powered by the fuel, compared with 48% in 2015 and 38.8% in 2017.

  9. UK slowdown overstated

    coins and UK flag

    The survey of services activity in the UK, mentioned earlier, may be overstating the slowdown in the economy.

    That's the view of Paul Dales, chief UK economist at Capital Economics.

    The reading on the index by IHS Markit/CIPS indicates GDP growth slowing from 0.6% quarter-on-quarter in the third quarter to between 0.1% and 0.2% in the fourth quarter, he said.

    "We'd place more weight on the slightly more upbeat CBI growth indicator and think that 0.3% [quarter-on-quarter] is more likely. If a Brexit deal is agreed soon, growth will surely rise this year," he said.

  10. The robot which goes to school

    BBC World Service

    If you're sick and can't keep up with school, what do you do?

    Here is an avatar robot called AV1 by Norwegian tech start-up No Isolation.

    Video content

    Video caption: It allows children with severe illnesses to stay connected, even when confined to bed
  11. Powell 'struck a softer, more dovish tone'

    US Federal Reserve

    Federal Reserve Chair Powell "struck a softer, more dovish tone" when speaking on a panel at the American Economic Association, says Oxford Economics' Kathy Bostjancic.

    She added that his comments have for now "assauged" financial market investors, and together with former Fed Chairs Janet Yellen and Ben Bernanke, the message is overwhelmingly "upbeat, yet flexible".

    The thee policymakers also defended the Fed's independence, and emphasized that there is a weak link between wage growth and inflation.

    Oxford Economics does not anticipate another interest rate rise until 1 May.

  12. US dollar slips on Powell comments

    US dollars, pounds and euros

    Although it rose following positive December jobs growth data, the US dollar has slipped against the pound on comments made by Federal Reserve Chairman Jerome Powell.

    The US dollar is now down 0.75% against the sterling at £0.7854.

    The US dollar has fallen 0.06% against the euro at €0.8772.

  13. HES staff 'can get redundancy money'

    Healthcare Environmental Services in Shotts, Scotland

    Staff at a clinical waste firm that ceased trading last week can apply for redundancy payments, a UK government agency has clarified.

    All 400 staff at Healthcare Environmental Services (HES) were given redundancy notices last week.

    It had been thought they could not apply for statutory redundancy money because the firm has not yet declared insolvency.

    But the Insolvency Service said many HES employees could apply regardless.

  14. London ends higher

    London stock exchange

    London shares have ended higher, boosted by Federal Reserve Chairman Jerome Powell's comments to a conference on Friday, which signalled that the Fed is no longer set on raising interest rates.

    The FTSE 100 closed 145.6 points or 2.2% up to 6,838.24. Top of the winners is Chilean mining firm Antofagasta, which rose 6.6% to 786.8p.

    The FTSE 250 ended 357 points or 2% ahead to 17,795.88. Pharmaceutical firm Indivior leads the winners, jumping 14% to 126.45p.

  15. Wall Street soars on rate hike comments

    Federal Reserve Chairman Jerome Powell

    In addition to saying he won't resign, Federal Reserve Chairman Jerome Powell signalled in his comments to the conference that the Fed is no longer set on raising interest rates.

    Mr Powell said the Fed is "prepared to adjust policy quickly and flexibly" to support the economy.

    His comments have come as a relief for investors, who have feared slowing global economic growth and weakening sales in 2019.

    The comments have boosted Wall Street - the Dow Jones Industrial Average has leapt 600 points or 2.7% to 23,286.28, while the S&P 500 is up an epic 75.7 points or 3% to 2,523.69, and the tech-heavy Nasdaq has jumped 232.3 or 3.6% up to 6,695.26.

  16. Manston Airport to host lorry park trial


    Plans to tackle post-Brexit traffic queues by holding lorries in a disused Kent airport will be tested on Monday, it has been revealed.

    More than 100 HGVs will travel the 20-mile route from Manston Airport, near Ramsgate, to the Port of Dover.

    Hauliers fear that a no-deal Brexit will create additional border checks, leading to queues of up to 29 miles.

    The government said it had to "prepare for all eventualities... including a possible no deal".

    There's more here.

  17. BreakingJerome Powell says he won't resign

    Federal Reserve chairman Jerome Powell

    Federal Reserve Chairman Jerome Powell has told a conference that he will not resign from his post if President Donald Trump asks him to.

    Mr Powell told the American Economic Association's annual meeting in Atlanta that he has not been told anything directly by the White House to indicate whether President Trump is thinking of firing him, according to CNBC.

    He also said that the Trump administration had not contacted him about having a face-to-face meeting with President Trump.

    "[The] Fed has a very strong culture around non-political activity...I would want the public to be assured that we have a strong culture that is not subject to being disrupted," said Mr Powell.

  18. Wall Street opens higher

    New York Stock Exchange

    Wall Street shares have risen, boosted by strong jobs growth data and optimism about proposed trade talks between the US and China next week.

    The Dow Jones Industrial Average is now 431.7 points or 1.9% up to 23,117.95. Chip maker Intel tops the winners, climbing 2.7% to $45.70 after having its stock upgraded by the Bank of America from "neutral" to "buy".

    The S&P 500 has climbed 39 points or 1.6% to 2,486.96. Top of the winners is cancer medical technology firm Varian Medical Systems, which has jumped 5.7% to $116.05.

    And finally, the tech-heavy Nasdaq has jumped 136.1 points or 2.1% to 6,599.65. Pharmaceutical giant Celgene tops the winners, up 4.7% to $84.20, on Thursday's news that it is merging with rival Bristol-Myers Squibb for $74bn.

    Also topping the Nasdaq is Netflix, which has risen 4.4% to $283.14 after Goldman Sachs announced that the streaming service is one of its favourite trades for 2019.