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  1. Get in touch:
  2. US consumer confidence lowest since 2016
  3. Wall Street soars on China trade offer
  4. Ryanair profits hit by falling fares
  5. Tesla to cut 7% of workforce
  6. Germany could block Huawei from 5G deals
  7. UK retail sales slide 0.9% in Dec from Nov
  8. FTSE 100 rallies as building shares rise

Live Reporting

By 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.

  2. Wall Street ends higher

    Wall Street

    Wall Street shares have ended higher, buoyed by the news that China made an trade offer to the US that could resolve the trade war dispute.

    The Dow Jones Industrial Average closed 1.38% ahead at 24,706.35

    The S&P 500 finished 1.19% higher at 2,667.38.

    And finally, the tech-heavy Nasdaq ended 1.03% ahead to 7,157.23.

  3. Drones 'endangered aircraft' 18 times in three months

    A quadcopter drone

    There were 18 near misses between aircraft and drones across Britain between July and October 2018, according to an air safety body.

    Out of the reported incidents, 12 took place in Greater London.

    The UK Airprox Board (UKAB) said the "highest risk of collision" occurred when a large "commercial drone" was seen to pass within 20 metres of an Airbus A380 as it approached Heathrow.

    Drone sightings disrupted about 1,000 flights at Gatwick Airport in December.

  4. The 'squid wars'

    Broadclub cuttlefish

    In Chile, lawmakers have been trying to regulate the fishing of cuttlefish - a large type of squid.

    Fishermen are only allowed to catch the squids using jigging gear and handlines, not fishing trawlers. If the rules are broken, perpetrators face fines of up to 25 million Chilean pesos ($37,263, £28,943).

    This has been met by a huge amount of opposition from fishermen, to the extent that the city of Concepcion in the south has seen nine days so far of violent riots.

    The fishing industry is responsible for 8,500 jobs and catches about 40,000 tonnes of fish annually, according to Chliean national newspaper La Tercera.

  5. What happens if prison officers don't get paid?

    BBC World Service

    Video content

    Video caption: The US government shutdown may pose a threat to the security of US jails

    US prison staff face real economic hardship thanks to the partial shutdown of the federal government, and that may pose a threat to the security of the country's jails.

    Eric Young is a prison officer and a national labour union representative for the American Federation of Government Employees.

    He tells the BBC's Vishala Sri-Pathma how not getting paid is affecting him and his colleagues. And he speaks of his fears for the peace and integrity of prisons.

  6. Facebook shares drop on FTC fine fears

    Facebook logo

    Facebook shares lost most of their gains on Friday, dropping to $148.68, after sources told the Washington Post that the Federal Trade Commission is considering levying a record-breaking fine against the social networking giant.

    The fine concerns user data privacy violations, tied to the FTC's investigation into Cambridge Analytica.

    Facebook shares are now up 0.9% to $149.62.

  7. Outlandish excuses for not filing tax returns

    frog illustration

    HM Revenue and Customs has released a list of the strangest expense claims and excuses it has received from people who haven't filed their tax returns.

    Top odd excuses:

    1. My mother-in-law is a witch and put a curse on me
    2. I’m too short to reach the post box
    3. I was just too busy – my first maid left, my second maid stole from me, and my third maid was very slow to learn
    4. Our junior member of staff registered our client in Self Assessment by mistake because they were not wearing their glasses
    5. My boiler had broken and my fingers were too cold to type

    Top weird expense claims:

    1. A carpenter claiming £900 for a 55-inch TV and sound bar to help him price his jobs
    2. £40 on extra woolly underwear, for five years
    3. £756 for my pet dog insurance
    4. A music subscription so I can listen to music while I work
    5. A family holiday to Nigeria

    Sadly, HMRC says that all of these excuses and expense claims were unsuccessful.

  8. Liam Fox yet to seal no-deal trade agreements

    Liam Fox

    The UK has yet to finalise agreements to replace existing free trade deals the EU has with 40 big economies if there is a no-deal Brexit.

    International Trade Secretary Liam Fox said he "hoped" they would but it depended on whether other countries were "willing to put the work in".

    He said more deals were coming, after signing one with Australia.

    Concerns have been raised that the UK will leave the EU without a deal that would protect current arrangements.

  9. Missed opportunities due to Brexit uncertainty

    The World at One

    BBC Radio 4

    Sir Ian Gibson, the former head of Nissan Europe, has told BBC Radio 4's The World at One programme that Brexit uncertainty has led to missed opportunities for the UK...

    View more on twitter
  10. Luxury lodge firm enters administration

    Dream Lodge Group, which owns eight luxury lodge parks, has gone into administration

    Hundreds of holiday park goers and investors have been potentially left out of pocket after a luxury lodge firm went into administration.

    Eighty of the 121 Dream Lodge Group staff, who worked at eight parks across England, have also been made redundant.

    Francesca Day is among those who bought holiday packages and is owed £3,000.

    Administrator Deloitte was appointed by the firm's Essex-based parent company, Walsham Chalet Park Ltd, after "a period of financial pressure".

  11. BreakingFaster payments now working again

    Lloyds Banking Group has told the BBC that faster payments should now be working again for Lloyds Bank, Halifax and Bank of Scotland.

    They have provided the following advice:

    “Faster Payments are now being processed, however due to the issues experienced today there may be a delay in processing some of the payments that customers made earlier in the day," said a spokesperson.

    "We continue to advise customers that they should not submit a second payment, to avoid duplicate payments being processed.

    "We would like to apologise for any inconvenience caused today and assure customers they will not be out of pocket as a result of this issue.”

  12. Reality Check: Has immigration held down wages?

    Reality Check

    Boris Jognson

    The claim: Immigration has held down wages in the UK.

    Reality Check verdict:Current research suggests there was a small, negative impact on the wages of low-skilled workers, which was outweighed by other factors such as the impact of the financial crisis and rises in the minimum wage.

    In a Brexit speech, Leave campaigner and former foreign secretary Boris Johnson said some big corporations had held wages down because they had access to so many workers from other countries. He said the UK needed to think "about how we control immigration". So, has it affected wages?

    We'll start by looking at European migrants, because migration from other countries is already restricted, whereas workers from other European countries benefit from freedom of movement.

    Read more here.

  13. London ends on a high

    London Stock Exchange

    London shares have ended higher, as the FTSE jumped on hopes that the US-China trade war could soon be resolved, thanks to China's trade offer to the US.

    The FTSE 100 closed 133.4 points or 2% up to 6,968.33. Top of the winners was Ashtead Group, rising 4.5% to £19.53 after RBC Capital Markets reaffirmed its "outperform" rating on the stock.

    The FTSE 250 ended 227.2 points or 1.2% ahead to 18,764.47. Metro Bank led the winners, jumping 5.9% to £21.96.

  14. Lloyds Banking Group hit by IT outage

    Lloyds Bank

    Customers of Lloyds Banking Group, which owns Lloyds Bank, Halifax and Bank of Scotland, have been experiencing problems receiving faster payments using online banking since about 11:00 GMT on Friday, due to an ongoing IT outage.

    Lloyds Bank has just sent the BBC an update:

    “We are aware that some of our customers are experiencing problems with making Faster Payments," said a spokesperson.

    "We are working to resolve the issue as quickly as possible. We would like to assure customers they will not be out of pocket as a result of this issue, and apologise for any inconvenience caused.”

  15. US consumer confidence drops

    US shoppers in Manhattan, New York

    US consumer confidence has fallen to its lowest since October 2016.

    According to the University of Michigan's consumer sentiment survey consumer confidence fell to 90.7 in January, down from 98.3 in December.

    Consumers are concerned about volatile markets, global economic slowdown, President Donald Trump's trade tariffs, and the partial shutdown of the federal government.

    “Aside from the direct economic impact from these various issues on the economy, the indirect effect meant that half of all consumers believed that these events would have a negative impact on Trump’s ability to focus on economic growth,” said the Surveys of Consumers' chief economist Richard Curtin.

    "While the January falloff in optimism is certainly consistent with a slowdown in the pace of growth, it does not yet indicate the start of a sustained downturn in economic activity."

  16. BreakingWall Street rises on possible China trade offer

    Shipping containers emblazoned with Chinese and US flags

    Wall Street shares have risen again, amid news reports that China has offered to increase its annual import of US goods by over $1tn over the next six years.

    Both Bloomberg and CNBC are reporting the news, which was told to them by US officials. The offer was made earlier this month during trade talks between the two countries.

    In 2018, the US trade deficit with China was $323bn. This deal would aim to reduce that annual trade difference to $0 by 2024.

    The Dow Jones Industrial Average is now 360.6 points or 1.5% higher to 24,567.77, the S&P 500 is 20.4 points or 0.8% up to 2,656.34, and the tech-heavy Nasdaq is 62.3 points or 0.9% higher to 7,146.71.

  17. Fed unlikely to raise interest rates as aggressively in 2019

    New York president of US Federal Reserve John Williams

    John Williams, president for the US Federal Reserve's New York region, has told the audience at a conference on Friday that the Federal Reserve is taking the approach of "prudence, patience, and good judgment" when deciding whether to raise interest rates.

    In 2018, the Fed raised rates four times, each by a quarter point.

    Mr Williams' comments seem to echo comments by his colleagues signalling that the Fed will be cautious about further hiking rates in 2019.

    He also said that he expects the US economy to grow by between 2 and 2.5% this year.

    "That's a step down from 2018, but still consistent with a healthy, growing economy," he added.