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Live Reporting

By Mary-Ann Russon

All times stated are UK

  1. Good night

    BBC testcard

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

    Do join us then for all the latest breaking news and analysis.

  2. Apple warns on second quarter sales

    Apple logo

    Apple has warned sales for its second quarter are likely to be lower than forecast, a signal that it continues to face weak demand for its iPhone, especially in China, the world's biggest smartphone market.

    The tech giant said it expects revenue between $55bn and $59bn for the current quarter ending in March, largely below analysts' average estimate of $58.83bn.

  3. eBay trumps forecasts

    eBay

    Ebay has beaten quarterly sales forecasts thanks to a jump in Christmas shopping spending.

    The online marketplace reported sales of $2.88bn in the three months to the end of the year, 6.3% higher than the same period last year.

    Net income from continuing operations was $763 million or 80 cents per share, compared with a loss of $2.6bn or $2.51 per share, a year earlier, when it recorded a one-time tax-related expense of more than $3bn.

  4. 'Deeply frustrating'

    'Deeply frustrating' is how CBI director general Carolyn Fairbairn sums up tonight's Brexit amendment votes in the House of Commons.

    "The never-ending parliamentary process limps on while the economic impact of no deal planning accelerates.

    “Firms will welcome confirmation that a majority of MPs oppose a no deal outcome.

    "But rejecting a no deal doesn’t get a deal. Until MPs can agree a solution, delay will do nothing to lift the threat of an economic cliff edge that is draining money from the UK.”

  5. Mixed end for Wall Street

    Wall Street traders

    Wall Street shares have ended mixed, as technology shares fell ahead of Apple releasing its latest financial results, while industrial and consumer product firm 3M and defence firms pulled up industrial stocks.

    The Dow Jones Industrial Average rose 51.74 points, or 0.21% to 24,579.96, the S&P 500 lost 3.85 points, or 0.15% to 2,640 and the Nasdaq Composite dropped 57.40 points, or 0.81% to 7,028.29.

  6. Pound stays lower

    The pound is still down around 0.7%, marking a 3-day low of $1.3057. Against the euro, it's around 0.8% lower.

    Neil Wilson, analyst at Markets.com, says the drop is "quite a comedown".

    "[It] is showing how the pound remains intensely sensitive to Brexit news flow, and partially how the market had put some faith in the Remainers/soft Brexiters forcing concessions from the government," he says.

  7. MPs back May's bid to change Brexit deal

    Breaking News image

    MPs vote for changes to Irish border "backstop" plans in Theresa May's Brexit deal as she seeks to reopen EU talks.

    Graham' Brady's amendment was passed by 317 votes to 301, with a majority of 16.

    Out of the seven amendments, only two have been passed.

  8. BreakingMPs approve amendment preventing 'no deal' Brexit

    Out of the seven amendments put before MPs in the House of Commons this evening, so far only one, proposed by Caroline Spelman, has passed.

    Her amendment states that the UK will not leave the EU without a deal.

    It was passed by 318 votes to 310, with a majority of eight.

    There is one more amendment left - Graham Brady's amendment suggests that the backstop is replaced with something else to avoid a hard border with the island of Ireland.

  9. Pound hit by amendment defeats

    Pounds and euros

    Sterling has slipped and is now down 0.7% on the dollar to $1,3072.

    The pound has fallen 0.6% on the euro to €1.1443.

    So far, five out of the seven amendments have been defeated in the House of Commons.

    The news has likely caused a sell-off since the amendments were thought to take a no-deal scenario off the table.

    The amendments that have been defeated are those proposed by:

    • Jeremy Corbyn
    • Ian Blackford
    • Dominic Grieve
    • Yvette Cooper
    • Rachel Reeves
  10. Yahoo data breach payout blocked by judge

    Yahoo logo

    A judge has rejected Yahoo's attempt to draw a line under a series of breaches it experienced between 2013 and 2016.

    The firm had proposed a payout to lawyers acting on behalf of affected US and Israeli users.

    But while the deal said the attorneys could claim up to $37.5m (£28.5m) in fees and costs, it did not disclose the sum reserved for victims.

    The California judge also objected to Yahoo being too vague about what remedial steps it was taking.

  11. 'Go to the chippy'

    Video content

    Video caption: Brexit: Go to chippy, says DUP's Sammy Wilson

    A Democratic Unionist Party (DUP) MP has responded to suggestions a no-deal Brexit could lead to food shortages by saying: "Go to the chippy."

    Sammy Wilson made the comment in the Commons on Tuesday during a debate on Brexit next steps.

    Green Party MP Caroline Lucas, who was sitting in front of the DUP, said the party should be "ashamed".

  12. All you need to know about Huawei - in one graph

    BBC digital journalist Daniele Palumbo has put together the following ueful visual

    Huawei in numbers
  13. Treasury had role in controversial RBS unit

    Andy Verity

    BBC Economics correspondent

    A woman walks past RBS cash machines

    Evidence has emerged of a government agency's role in the Royal Bank of Scotland's (RBS) controversial Global Restructuring Group (GRG).

    The Asset Protection Agency influenced GRG's strategy including decisions that determined business customers' fortunes, the BBC has learnt.

    Separate court evidence suggests the agency told RBS to withdraw customer support, when the bank did not want to.

    RBS said it disagreed with the claims while the Treasury declined to comment.

  14. North Sea gas find 'biggest in a decade'

    Culzean development
    Image caption: Gas from Glengorm could be tied back to the Elgin-Franklin or Culzean platforms

    A significant gas discovery in the central North Sea is being described as the biggest find in more than a decade.

    Chinese state-owned company CNOOC said it made the gas discovery - equivalent to 250 million barrels of oil - in its Glengorm project, east of Aberdeen.

    Further appraisal work is planned, but it is understood it could be extracted using existing infrastructure.

    Friends of the Earth Scotland said the find was terrible news for the climate.

  15. Brexit fears halt blood donor sessions

    Operation Stack

    Fears Brexit will lead to major traffic congestion around Channel ports have led to the cancellation of blood donation sessions.

    Sessions have been cancelled in Dover and Folkestone for the two weeks before Britain leaves the EU on 29 March and the six weeks afterwards, the NHS said.

    Mike Stredder, from NHS Blood and Transplant, said congestion could stop teams reaching donation venues.

    But Dover MP Charlie Elphicke said the move was creating unnecessary worry.

  16. Chancellor Philip Hammond 'hopeful' of nuclear plant deal

    Wylfa Newydd nuclear plant concept art

    Work on a multi-billion pound UK nuclear project could still "go ahead" if a new financing model is found, Chancellor Philip Hammond has said.

    Japanese firm Hitachi cited rising costs for halting work on the £13bn plant at Wylfa Newydd, Anglesey.

    It had been in talks with the UK government since June about funding for the project, which was being built by its Horizon subsidiary.

    Mr Hammond said an alternative model was being worked on.

  17. Some guessing will be needed

    BBC World News

    The Federal Reserve is meeting today for it's latest decision on interest rates.

    They're not expected to raise the main rate which is currently in the range of 2.25% to 2.5% but as ever there will be a lot of attention paid to what the chairman Jay Powell says when the two day meeting ends tomorrow.

    It comes as the government said it was delaying Wednesday's scheduled release of the latest economic growth figure because of the government shutdown.

    BBC presenter Aaron Heslehurst speaks to Sarah Bloom Raskin, former Deputy Secretary of the US Treasury and a former Governor of the Federal Reserve Board.

    View more on twitter
    View more on twitter
  18. London closes higher

    London Stock Exchange

    London shares have ended higher, due to investor optimism as the speaker of the British parliament chose amendments to be voted on by lawmakers this evening, including one that would effectively take a no-deal Brexit off the table.

    The FTSE 100 closed 86.8 points or 1.3% higher to 6,833.93. Top of the winners was British American Tobacco, which rose 5.5% to £25.04 after analyst Piper Jaffray upgraded its stock from "overweight" to "neutral".

    The FTSE 250 ended 167.9 points or 0.9% ahead to 18,702.61. Vivo Energy led the winners, jumping 8.4% to 135.5p.

  19. 'No-deal likely to be averted'

    Pounds, dollars and euros

    During the previous Brexit vote on 15 January, sterling fell just minutes after the result was announced - namely a historic defeat of Theresa May's Brexit deal by a majority of 230 votes.

    This time, XTB's chief market analyst David Cheetham says that the pound is up due to "the growing feeling that a no-deal scenario will be averted".

    He says that the seven amendments being voted on in the House of Commons this afternoon are critical, however he is concerned that the new deal looks very similar to the first one.

    Sterling is now flat against the dollar, down just 0.07% to $1.3149.

    The pound is also flat against the euro, down 0.04% to €1.1510.