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Live Reporting

By Mary-Ann Russon and Simon Read

All times stated are UK

  1. Good night

    Test Card

    That's it from Business Live for today.

    But we'll be back bright and early from 06:00 tomorrow morning.

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

  2. How much for the doggy in the window?

    Emma Gray trains sheepdogs full time and has about 20 on her farm
    Image caption: Emma Gray trains sheepdogs full time and has about 20 on her farm

    Finally, a border collie from Northumberland has become the world's most expensive sheepdog after being sold to an American ranch owner for £18,900.

    Two-and-a-half year-old Megan was sold by shepherdess Emma Gray - who has represented England at the World Sheepdog Trials - at an auction in North Yorkshire on Friday.

    "I had to ring the auction and just make sure it wasn't a hoax and that I wasn't dreaming," she said.

    The average price for a working dog is about £2,000.

    Megan will go from herding sheep in the north-east of England to rounding up Wagyu cattle in Oklahoma.

  3. Watch: 'Flood bus' helps trapped villagers

    Video content

    Video caption: Shropshire 'flood bus' helps people trapped in village

    A publican is using an ex-army truck, known as the "flood bus", to get people in and out of a village in Shropshire cut off by flooding.

    Roads in Pentre are impassable to cars, with some parts of the village under 5ft (152cm) of water.

    John Bewley, who is the landlord of a nearby pub, also uses the vehicle to ferry in supplies.

    A number of homes, that have not been flooded for 20 years, have been inundated for the second time in a week.

  4. Pound climbs as markets and oil prices fall

    The pound has climbed 0.64% to $1.3011 against the dollar today and 0.38% to €1.1958 against the euro.

    The price of Brent Crude futures has fallen 0.96% to $55.76 a barrel.

  5. Wall Street slumps too

    Despite starting the trading day positive, US indices have followed UK stocks downwards.

    The S&P 500 is now down 1.18% at 3,187.73.

    The Dow Jones is at 27,638.89 after losing 1.15%.

    The Nasdaq is down 1.21% at 9.109.72.

  6. BreakingLondon markets close with the FTSE 100 at a 12-month low

    Traders

    The FTSE 100 has had another bad day.

    It closed at 7,017.88, after dropping 138.95 points or 1.94%, a 12-month low.

    The wider FTSE 250 index lost 401.90 points, or 1.90%, to close at 20,715.97.

  7. Fume events: toxic gases that may be harming aircrew and passengers

    A plane

    In January a pilot became unresponsive at the controls of a plane coming into land at Heathrow.

    The incident was just the latest in a string of potentially dangerous "fume events" going back decades, the BBC has discovered.

    This year was only hours old when a British Airways captain issued a Mayday emergency call to the control tower at London's Heathrow Airport.

    Just minutes from landing BA633 from Athens on the evening of 2 January, his co-pilot - the first officer - had slumped at the controls. They were experiencing a "fume event", when toxic air enters the aircraft.

    Read more

  8. Watch: the Yimbys who want to shake up the suburbs

    Video content

    Video caption: Housing: Meet the Yimbys who want to shake up the suburbs

    The UK faces an acute housing shortage, with more than 300,000 people on waiting lists for temporary accommodation.

    But a small pressure group called London YIMBY (Yes In My Back Yard) says it may have part of the solution.

    It wants teams of homeowners to get together and initiate their own building developments, especially in the suburbs.

    BBC digital reporter Dougal Shaw interviewed the couple.

    You can find out more about what can be done to help close the housing gap, by downloading the new BBC Briefing on housing (11.2MB), and by visiting bbc.co.uk/housing.

  9. Filming Impossible? Health fears halts seventh instalment in franchise

    Tom Cruise

    Filming on the latest Mission: Impossible movie in Italy has been paused due to concerns about the outbreak of coronavirus in the country.

    Shooting on the seventh film in the series was due to take place in Venice over the coming weeks.

    But Paramount has halted production after Italy recorded the worst outbreak of coronavirus in Europe.

    There have been more than 200 cases in the country so far, including seven deaths.

    The number of cases makes Italy the third worst-hit country in the world after China and South Korea.

  10. 'Will we be able to get home?' Coronavirus fears hit Thailand traveller

    Thailand

    Business Live reader Antony from Manchester is currently in southern Thailand with his wife, but reports they're feeling "On a little bit of a knife's edge at the moment".

    The couple are waiting to find out if their flights will be cancelled, following similar restrictions in Dubai.

    "Her work and mine have already been in touch via email to inform us of the need to work remotely for two weeks (I'm a software developer and she's a civil servant), but are both able to do so fairly easily," he reports.

    He says they've noticed a lot of security check points around the country in the last three weeks as they've toured around, "as well as at every station entrance and exit in Bangkok where hand gel, masks and thermal checks are available".

    "Thailand as a whole seem to be handling it well apart from the severe dip in Chinese and Western tourism," he adds.

    Interesting stuff. Cheers for the report, Antony.

  11. Digital skyscraper set to be tallest office between Leeds and Glasgow

    The office block (left) would be accompanied by two residential towers
    Image caption: The office block (left) would be accompanied by two residential towers

    Meanwhile in Middlesbrough, plans for a 260ft (80m) tall office block have been submitted.

    If agreed, Boho X would be the tallest office building between Leeds and Glasgow, with spoace for 1,000 workers.

    Mayor Andy Preston said the £30m "digital skyscraper" could be open for business by 2022

    "Boho X will be a stunning digital skyscraper on the very site where Middlesbrough first grew into the famous Ironopolis," he said.

  12. Watch: Trump and Modi hail defence deal and shared values

    Video content

    Video caption: Trump and Modi hail defence deals and 'positive' trade talks

    The US President Donald Trump has said that his trip to India was "very productive" after the two countries signed several deals.

    After talks on Tuesday, the US president and Mr Modi acknowledged they had not been able to sign a trade deal, but said negotiations would continue.

  13. London liquid air battery start-up gets $46m Japanese boost

    Batteries

    a London-based battery start-up that uses liquid air to store energy, has attracted a $46m (£35.42m) investment from Japan manufacturer Sumitomo Heavy Industries.

    Highview Power says its technology can generate between 20 megawatts to 200 megawatts of power.

    The Japanese machinery manufacturer said it will expand Highview Power’s technology for the long-term storage of renewable sources of energy globally.

    “Highview Power’s long-duration energy storage technology not only solves the problems that enable dispatchable renewables but will be a catalyst in bringing the energy transition forward,” Tomas Harju-Jeanty, chief of Sumitomo’s subsidiary Sumitomo SHI FW, said.

  14. Ritz conservatory bugged by Barclay family members, court told

    Barclays twins

    All is not well between the Barclay twins.

    Yesterday, Sir Frederick Barclay and his daughter Amanda brought a High Court action against his twin Sir David Barclay and his three sons Alistair, Aidan and Howard, as well as Aidan's son Andrew.

    They claim the conservatory of The Ritz hotel - owned by the Barclays - was bugged to allow their private conversations to be recorded, reports Sky.

    Barclay and his daughter are bringing a legal action alleging misuse of private information, breach of confidence and breach of data protection laws against their four relatives, and Philip Peters, who “holds a board position” in the Barclay group of businesses.

    They claim the defendants recorded the conversations, commissioned transcripts and then conducted discussions about them "over a long period of time", and they asked for an interim non-disclosure order to be issued.

    However, Mr Justice Warby disagreed, ruling that "there was no intention and no evidence of any intention" to disclose the recordings.

  15. Flood damage could cost £100m in Wales

    Pontypridd Taff Street
    Image caption: Taff Street, named after the nearby river, in Pontypridd was badly affected by flooding

    The cost of the flood damage in Wales could reach more than £100m, according to the first minister.

    Speaking onBBC Radio Wales, Mark Drakeford said the Welsh Government had written to the UK Treasury saying it would need financial help.

    He said much of the damage was still being assessed with some structures "still under water".

  16. FTSE 100 drops more than 1% to fall to lowest level for six months

    It'll be interesting to see whether the positve news from Wall Street helps change the fortunes of the UK's blue-chip index.

    The FTSE 100 is currently languishing at 7,071.18, after falling 85.65 points or 1.20%, to hit it lowest level since last August.

  17. Wall Street opens higher

    Wall Street

    US stock indices have bounced back today with some help from earnings reports after the S&P 500 and the Dow Jones yesterday logged their worst session in two years on worries over the worldwide spread of the cornavirus.

    The Dow Jones Industrial Average rose 145.28 points, or 0.52%, to 28,106.08.

    The S&P 500 gained 14.94 points, or 0.46%, to 3,240.83 and the Nasdaq Composite added 75.55 points, or 0.82%, to 9,296.83.

  18. Breaking1,800 Tesco workers to lose their jobs

    Tesco store

    Some 1,816 Tesco workers are set to lose their jobs as part of changes to in-store bakeries, the supermarket has said.

    The supermarket chain will make less fresh baking products in some stores with 58 sites moving to completely pre-prepared products which are then baked on site.

    It blamed the move on "a big shift in customer tastes and preferences".

    It said customers are buying fewer traditional loaves of bread and are increasingly looking for a wider range of options, with sales of wraps, bagels and flatbreads growing.

    "At this difficult time, our priority will be to support those colleagues impacted, including finding an alternative role from the many thousands of vacancies we will have available across our store networks between now and May, for those who wish to stay with us," Tesco said.