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Summary

  1. Wall Street higher as Dow moves towards 20,000 points
  2. Next posts poor Christmas trading
  3. Trump thanks Ford over Mexico plant
  4. BA cabin crew plan new strike
  5. Get in touch: bizlivepage@bbc.co.uk

Live Reporting

By Tom Espiner

All times stated are UK

Get involved

  1. Good night

    That's all from the Business Live page for today. Join us again tomorrow from 06:00 for more business news.

  2. The Great Football Dream of President Xi

    Cristiano Ronaldo

    An interesting piece in the New York Times charts Chinese football ambitions.

    European and South American players are being offered even more vast sums of money than usual try to to lure them into the main Chinese league.

    For example, Real Madrid was offered £250m for Cristiano Ronaldo by an unnamed Chinese club, his agent said last week.

  3. Apple confirms $1bn investment in SoftBank tech fund

    Apple logo

    Apple has confirmed plans to invest $1bn in a tech fund being set up by Japan's SoftBank.

    SoftBank has said it is investing at least $25bn in the fund and has been in talks with Saudi Arabia's Public Investment Fund for an investment that could go up to $45bn. 

  4. Deutsche Bank to pay $95m to resolve US tax case

    Deutsche Bank has agreed to pay $95m to resolve a US government lawsuit accusing the German bank of using shell companies to evade significant tax liabilities in 2000, according to court papers.

    The US had sought more than $190m. 

  5. Wall Street holds onto gains after release of Fed minutes

    Wall Street held onto gains at the close after minutes from the Fed's December meeting showed policymakers were concerned that quicker economic growth under President-elect Donald Trump could require faster interest-rate increases.

    US stocks have been boosted over the past two months by expectations that Mr Trump will stimulate the economy.

    But investors worry that could raise inflation and push the US Federal Reserve to raise interest rates faster than anticipated.

    The Dow was up 0.30% to 19,942.16 points and the S&P 500 had gained 0.57%, rising to 2,270.75. The Nasdaq Composite added 0.88%, finishing at 5,477.00. 

  6. Trump's trumpet

    US President-elect Donald Trump has tweeted about a number of companies since winning the US election.

    What has happened to the share price of some of those companies since those tweets, asks Reuters?

    View more on twitter
  7. Peso drops to a new low

    US dollar exchange rate is seen on the board of a bureau de change in Ciudad Juarez

    Mexico's peso has dropped to a new low, falling more than 2% after concerns about protectionist policies by US President-elect Donald Trump.

    The peso fell as low as 21.624 per dollar, after pushing past the previous bottom of 21.395 set on 11 November, soon after Mr Trump's surprise 8 November presidential election victory.

  8. Pence: Obamacare replacement to be decided through legislative process

    Vice President-elect Mike Pence

    US Vice President-elect Mike Pence has said the Republican plan to replace the Affordable Care Act will be decided by the legislature after criticism by Democrats over dismantling the health care programme without an alternate plan.

    "The architecture of the replacement of Obamacare will come together, as it should, through the legislative process in the weeks and months ahead," Mr Pence said after a meeting with Republicans on Capitol Hill.

  9. Fed may need to speed up rate hikes if Trump policies boost US

    Donald Trump

    Federal Reserve officials, who put up a key interest rate last month, said they might need to accelerate future rate hikes if a faster-growing economy makes the unemployment rate to fall farther than currently expected.

    Minutes of the Fed's December meeting showed that Fed officials discussed the impact of Donald Trump's proposed economic program of tax cuts, deregulation and increased infrastructure spending.

    The Fed officials attributed the surge in stock prices, the increase in bond rates and the stronger dollar following the election to enthusiasm among investors about Trump's plans to bolster economic growth.

    The minutes said that Fed officials believed they could maintain plans for gradual rate hikes but would need to be ready to hasten those increases if necessary to fight inflation. 

  10. France orders duck and goose cull to contain bird flu

    Ducks in south-west France

    It's not a particularly good time to be a duck in south-west France.

    The agriculture ministry is trying to contain an outbreak of bird flu, and has ordered a cull of free-range birds.

    "The principle is to quickly kill the species most affected to date by the virus," the ministry said, saying these were ducks reared by foie gras makers. 

    Around 800,000 ducks and geese, out of a total population of around 18 million in the south-west, will be culled in the coming week, said Marie-Pierre Pe from foie gras makers group Cifog.

  11. Le Pen calls for France to leave the euro

    Marine Le Pen

    Marine Le Pen, the leader of France's far-right National Front party, has outlined plans for France to leave the euro should she win this year's presidential election.

    But she proposed Europe could return to a parallel Ecu-like common unit in a bid to soften the economic impact.

    Read more here.

  12. Tesla begins battery cell production

    Gigafactory

    Tesla has started making its own batteries for electric cars and to store energy from renewables.

    It said its Gigafactory near Reno has started mass-production of lithium-ion battery cells.

    This is quite a big deal for the firm, says BBC North America technology reporter Dave Lee, because it "removes a big time and cost barrier" for Tesla.

    "It had to import the batteries from Asia before now," he says.     

  13. Has the government got a clue? The business view.

    Simon Jack

    BBC Business Editor

    Sir Ivan Rogers

    There is a lot at stake for business in the upcoming Brexit negotiations so when there is a crack between government and the civil service it's perhaps not surprising that businesses express concern.

    I don't know exactly why Sir Ivan Rogers resigned but what I do know is that his recent warning that a trade deal with the EU could take 10 years to thrash out is not seen as outlandish in some sectors.

    Read more here.

  14. FTSE hits another record high

    The FTSE 100 has managed to secure another record close, rising to its fifth consecutive all-time closing high. 

    The blue-chip index closed up 0.17% to reach 7,189.74 points, edging past the previous record close of 7,177.89 which was set on Tuesday. 

    The strong performance comes despite the terrible performance of retailer Next whose shares closed over 14% lower  after it warned profits were expected to drop by 3.6% in the year to January 2017. 

  15. Donald Trump nominates lawyer as head of US financial watchdog

    View more on twitter

    President-elect Donald Trump plans to nominate Jay Clayton, a partner with law firm Sullivan & Cromwell as chairman of the Securities and Exchange Commission financial watchdog. 

    At the firm Mr Clayton worked on Clayton worked on bank rescues and bailouts. 

    "Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time," Mr Trump in a statement.

    "We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers." 

  16. Wall Street still not quite at 20,000 mark

    Wall Street stocks are still trading at just below the 20,000 point mark with the Dow Jones at 19,905.5, up around 0.20% from the start of the day.