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Summary

  1. Janet Yellen warns on China threat to US growth
  2. Former City chief warns about 'indefinite low rates'
  3. Mixed fortunes for beer giants
  4. Tullow Oil slumps to £1bn loss
  5. Pinewood Studios looking for investment partner or sale

Live Reporting

By Chris Johnston

All times stated are UK

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  1. Over and out

    Stop sign

    Sadly that's all we have time for on Business Live tonight. A full story on Twitter results will be going live shortly. We're back at 06:00 tomorrow so do join us then.

  2. Twitter disappoints

    Twitter posted fourth-quarter revenue of $710m - up 48% compared with the same period last year. However, total average monthly active users were 320 million, up 9% year-on-year - but flat compared with the previous quarter.

    That has not impressed investors, with Twitter shares falling 10% in after-hours trading.

  3. BreakingAnother mega pharma deal

    Generic drug maker Mylan has announced a recommended cash-and-shares offer for rival Meda that values the Swedish company at $9.9bn (£6.8bn). 

    The tie-up will create a "diversified global pharmaceutical leader with an expansive portfolio of branded and generic medicines and a strong and growing portfolio of over-the-counter products", Mylan said.

  4. Wall Street close

    What went wrong? The S&P has ended the day flat after being up almost 1% a couple of hours ago, while the Dow fell 0.6%. The Nasdaq, at least, ended up with a 0.3% rise.

    Disney was the biggest faller on the Dow, with Nike the best performer.

  5. SolarCity shares sink

    Elon Musk

    Shares in a US company backed by Tesla chief Elon Musk (pictured) have plunged as investors worried about its ability to raise funds. SolarCity, which installs rooftop solar panels installations, fell 30% after it said it installed fewer-than-expected systems for the second consecutive quarter. 

    The company plans to slow its pace of growth to turn cash-flow positive by the end of the year. However, SolarCity's "hunger for new capital" remains a concern, JP Morgan analysts said as it and eight other brokers cut their price targets. 

  6. Jailed for doing their job

    BBC World Service

    The job of the 10 crew and 25 marine guards - all experienced former soldiers - of the Seaman Guard Ohio was to protect some of the world's busiest shipping routes from pirates. Employed by a private company, they were dispatched to oil tankers and other vessels travelling across the Indian Ocean. 

    Last month, the ship's 35 crew and guards were sentenced to five years by a court in Chennai for possessing firearms. One of the men on board was Billy Irving, a former soldier in the British Army's Parachute Regiment. We spoke to his fiancee Yvonne MacHugh about the case.

    Video content

    Video caption: We report on the anti-piracy ship whose crew faces five years in an Indian jail.
  7. Time for growth says Lufthansa boss

    Our business reporter Theo Leggett talks strikes, restructuring, oil prices and last year's tragic German Wings crash with Carsten Spohr:

    Video content

    Video caption: Theo Leggett talks to Lufthansa Group's CEO, Carsten Spohr.
  8. Republicans dump Obama oil tax

    No great surprise perhaps, but Republican leaders in the House of Representatives have dismissed Barack Obama's proposed $10.25 a barrel tax on oil, saying the increase would translate into higher fuel prices for consumers. 

    "The president's tax proposal is dead on arrival at the House. It will not happen," said House minority whip Steve Scalise. House Speaker Paul Ryan also rejected the idea. 

    The tax, to be phased in over five years, was part of the President's proposed budget for the 2017 financial year released yesterday.  

  9. Black cabs in mass breakdown

    Uber protest

    OK, so the black cabs didn't all break down but were protesting against - you guessed it - Uber in London this afternoon. 

    Jim Kelly, of the Unite union, said: "The reduction in safety for passengers because of the 'light touch' regime is to be deplored. It is a race-to-the bottom, when in 2016 we want the highest possible standards." And the highest possible fares, perhaps?

    And another thing: every black cab I've been in lately has a GPS. One driver told me he used it to tell the time. Any other views on the subject? bizlivepage@bbc.co.uk

  10. Wall Street update

    In the wake of Janet Yellen's testimony, the Dow Jones remains in positive territory, up 0.25%, while the S&P 500 is almost 1% higher and the Nasdaq has risen 1.7%.

    "What Yellen said has been taken positively," said Richard Sichel at Philadelphia Trust Co. "Stocks in general are cheaper now than they were three days ago or three months ago, so there's an opportunity to step in." 

  11. BreakingNestle ends athletics sponsorship

    Nestle sign

    Nestle said it has ended its sponsorship of world athletics' governing body the IAAF. The Swiss food giant said it was concerned its own reputation could be damaged by association following the doping and corruption scandals involving the IAAF. 

    Nestle was a financial backer of the IAAF Kids Athletics programme, being its main sponsor since 2012. 

  12. Hot dogs on the Burger King menu

    Burger King

    First all-day breakfast at McDonald's, and now in more seismic news from the world of fast food, Burger King will start selling hot dogs at its 7,100 US stores later this month.

    The chain's ability to flame-grill meat makes hot dogs a natural fit on its menu, apparently. "This is probably the most obvious product launch ever,'' said Alex Macedo, president of Burger King North America. 

    The "classic'' hot dog will be topped with ketchup, mustard, chopped onions and relish, cost $1.99 and weigh in at 310 calories, while a chili cheese version will have 330 calories and cost $2.39. 

  13. Mark Price becomes trade minister

    Mark Price

    Outgoing Waitrose boss Mark Price has been appointed trade and investment minister, replacing Francis Maude, the veteran Conservative who is ending a long frontbench career next month.

    Mr Price has been made a life peer and will take up the role in April. He will serve both the Department of Business, Innovation and Skills and the Foreign Office. 

    There was speculation that he missed out on becoming interim chairman of Channel 4 - a role that went to easyJet deputy chairman Charles Gurassa.

  14. Deutsche Bank shares jump 10%

    The panic over Deutsche Bank may be over. After slumping by 13% over the course of Monday and Tuesday, the stock closed up 10% to €14.58 in Frankfurt, easing concerns about the financial strength.

    Reports have suggested the bank is considering a bond buyback, but Deutsche has not commented on the matter.

  15. Black unemployment

    Janet Yellen

    Janet Yellen has been getting a bashing about the very high unemployment rates for young black men in many parts of the US. She also says she would consider appointing an African-American as head of one of the Fed's regional banks.