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Summary

  1. Former City trader Tom Hayes has rate-rigging sentence cut
  2. Toshiba to cut 6,800 jobs, warns of record loss
  3. Oil prices down sharply
  4. Star Wars movie smashes box office records
  5. Email the live page: Businesslivepage@bbc.co.uk

Live Reporting

By Katie Hope

All times stated are UK

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  1. Goodbye

    That's all we have time for today. But we'll be back at 6.00am sharp with all the updates from the business world. 

  2. US stocks end higher

    Wall Street has managed to end the day higher, helped by a bounce in Apple and Microsoft. The Dow Jones jumped 0.7%, the S&P 500 0.8% and the Nasdaq 0.9%.

    Shares in Microsoft ended 1.3% higher, boosted by a report in financial magazine Barron's which said shares in the company could increase by 30% over the next 18 months.  

  3. How low can oil go?

    Brent crude ended the day down 1.9% at $36.18 a barrel - its lowest level for 11 years, while US benchmark West Texas Intermediate is currently down 0.7% at $35.81 a barrel. 

    Citi Futures energy analyst Tim Evans says the falls simply reflect reality.

    "The story may be less dramatic, with new lows really only confirming that oil is becoming cheaper," he adds.

  4. New Star Wars film takes $529m globally

    star wars film

    The new Star Wars film Star Wars: The Force Awakens not only set a North American record for ticket sales in its debut weekend, but a global one, Walt Disney has just said.

    It said the film took $529m (£355m) worldwide over the weekend.

  5. Chipotle hit fresh by E. Coli investigation

    chipotle store front

    Staying on the falling shares theme, Mexican fast food chainChipotle's sharesare currently down 2.5%. 

    The drop comes afterUS public health regulatorssaid they were investigating the chain for a possible link to a new E. coli outbreak.

  6. The force is not with Walt Disney

    star wars figures

    Walt Disney shares, which surged 1.3% at the open are now the biggest loser on the Dow Jones, down 1.8%.

    Star Wars: The Force Awakens set a record for the biggest box office debut weekend in North America with ticket sales of $238m (£159.7m)

    But investors don't seem impressed.

  7. Indonesia punishes firms over pollution

    A view of a land as peatland forest is cleared by burning for a palm oil plantation

    Indonesia has said 56 pulp and paper companies will face punishment for their role in causing a choking haze that shrouded south-east Asia earlier this year. For the first time, businesses found to have illegally used fires to clear land will have their licences revoked.

  8. Rescuers continue to search for survivors in China

    On the BBC's World Business Report Susannah Streeter has been finding out more about the landslide in the Chinese city of Shenzhen - a rapidly growing city, full of migrant workers.

    Already around 90 people have been confirmed dead. You can watch the report here.

  9. Shkreli fired from drug company

    Martin Shkreli, a former hedge fund manager

    Martin Shkreli has been fired from drugs firm KaloBios Pharmaceuticals after being arrested on charges of securities fraud. The firm fired him on 17 December. He also resigned as chief executive of Turing Pharmaceuticals on 18 December. Mr Shkreli was propelled into the media spotlight earlier this year when he raised the price of a drug used to treat Aids from $13.50 to $750 a tablet. The fraud charges are not related to this price rise.

  10. Russia's 'oil resilience'

    Russian Lukoil ice-resistant fixed platform LSP-1

    Why and how has Russia pledged to keep on producing oil despite falling oil prices and pressure from Opec? Russia, which is second only to Saudi Arabia in terms of crude oil production, relies on oil and gas to produce half of its revenues, says Bloomberg. Rising exports and a weak rouble have played their part, it adds.

  11. Tiffany shares sparkle

    Tiffany's bag

    Shares in the jewellery firm Tiffany's are up more than 3% in New York after a broker upgrade.

    The Financial Times quotes Jefferies as saying Tiffany's presents a "rare opportunity to get a high-quality company at a discount”.

    The company has said that it had been hit by the strong dollar but Jefferies reckons "the worst is likely behind us on the slowdown in tourism”.

  12. Christmas comes early for Melrose shareholders

    European Union antitrust regulators have approved US firm Honeywell's $5.1bn deal to buy Elster Group, the German metering group owned by London-listed Melrose Industries.

    Melrose says it expects the deal to complete "within several days".

    It says it will then pay out £2.4bn in cash to its shareholders, worth around 240p per share.

  13. Wall Street clings onto positive territory

    Wall Street is just about holding up, remaining in positive territory despite the slide in the oil price. The Dow Jones is currently up just 0.1%.

    Will it hold is the question?

    First Standard Financial's chief market economist Peter Cardillo says he expects it to end the day close to where it is now.

    "It's going to be interesting to see if this market can hold up and divorce itself, at least for today, from the price of oil," he adds.

  14. FTSE closes lower

    FTSE 100

    The FTSE 100 has run out of steam, falling lower in the final few moments of trade. After staying up all day, the blue-chip index ended the day 0.3% down at 6,034.84.

  15. 'The candle charade'

    Christmas sale sign

    Our feature on whether the fact that so many shops have started their sales - well ahead of the traditional Boxing Day sell-off - bodes ill for the sector's performance has sparked some interesting comments on the joys (or not) of Christmas shopping.

    "Scented candles.Sick of the sight of em'Sick of buying them for people who don't want them, sick of receiving them.But the Mrs tells me it must be done.So the candle charade must continue," says one reader.

  16. JP Morgan Chase to pay $150m

    whale

    Remember JP Morgan Chase's "London Whale" debacle in 2012?

    The scandal arose from disastrous trades by former bank employee Bruno Iksil, who earned the nickname of the "London Whale" for his big bets on the financial markets.

    The bank has agreed to pay $150m to resolve a securities fraud lawsuit by investors suing the bank in a class action.

    The settlement was disclosed in papers filed on Friday in federal court in Manhattan.

  17. 'I've got carrots in my boot'

    reindeer

    Bjorn the reindeer which ran away from a Christmas event at a Tesco store in Nottinghamshire is recovering from his brief break for freedom as we reported earlier.

    But some witnesses are now speaking out about the incident. 

    Warren Porter says it was "one of the weirdest, unexpected sights I will ever witness".

    "I locked my doors and thought, 'you're not getting in here, I've got carrots in my boot'."

  18. Tom Hayes: 'I am immensely disappointed'

    Former City trader Tom Hayes, who has just lost his appeal over his Libor fixing conviction, says he's "immensely disappointed".

    "Whilst I have enormous respect for the criminal justice system, I continue to maintain my innocence.  I never asked for a dishonest or inaccurate LIBOR rate to be submitted.  I was at secondary school when these practices started - I am not the "ring master," he adds.