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  1. Wall Street opens higher
  2. December retail sales disappoint
  3. FTSE falls despite slide in sterling
  4. China economy grows 6.7% in 2016
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Live Reporting

By Daniel Thomas

All times stated are UK

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  1. Have a good weekend

    Thanks for joining Business Live this week. We will be back on Monday from 6am, hope to see you then. 

  2. 'Put your phone to bed' - Arianna Huffington

    A 'phone bed'

    For someone on the last day of the World Economic Forum - a week of long days and nights - Arianna Huffington is looking remarkably well.

    Her secret? Don't go to the night caps - the name given to the drinking and networking parties which go on into the small hours each night at the small mountain village. 

    She also bought her own purple yoga mat with her.

    "I could do it on a towel, but seeing it in my room is a reminder to do it... something inviting me to stretch," she says.

    For those, not at the forum, and struggling to switch off from work - she recommends a phone bed. Pictured here, she claims her new firm Thrive - which offers advice on how to get a better night's sleep - has sold "a lot" of these.

    The idea is that you will sleep better if you put your phone to bed each night, as it'll be out of temptation's way and you won't be able to check emails or browse the net in bed.

  3. US stocks close higher on inauguration day

    US trader

    US markets ended higher on Friday despite having pared earlier gains following Donald Trump's inauguration speech. 

    The new president struck a strongly nationalist and protectionist stance during his address, causing each of the main indexes to dip.

    At close, the Dow Jones had gained 0.48% to 19,827.25, the S&P 500 was up 0.34% at 2,271.31, and the Nasdaq was 0.28% higher at 5,555.33.

    Stocks have been in a holding pattern in recent weeks as early jubilation about Mr Trump's pro-growth agenda has given way to trepidation. 

    Phil Orlando of Federated Investors told Reuters: "I think folks priced in the good stuff in that first month [after the election] and now they're worried about inflation and what's the Fed going to do, and a stronger dollar and trade wars and tariffs and the like." 

  4. White House sets out other priorities

    The White House

    The White House has posted statements about other policy priorities on its website. 

    On trade it says Mr Trump will strike "tough and fair agreements", growing the US economy while returning "millions of jobs to America’s shores".

    "The United States will crack down on those nations that violate trade agreements and harm American workers in the process," it adds.

    On the economy, it says Mr Trump will create "25 million new American jobs in the next decade and return to 4% annual economic growth".

    "The plan starts with pro-growth tax reform to help American workers and businesses keep more of their hard-earned dollars," it adds.

    "The President’s plan will lower rates for Americans in every tax bracket, simplify the tax code, and reduce the U.S. corporate tax rate, which is one of the highest in the world."   

  5. France probes whitening additive

    BBC World Service

    France's food safety agency has launched an investigation into an additive used to whiten products including toothpaste, confectionery and chewing gum, after scientists found it can cause precancerous lesions in rats. 

    A study says such lesions were found in 40% of rats given the additive - known as E171 - for 100 days. 

    The additive contains tiny particles of titanium dioxide. The scientists say they've not drawn any conclusions about whether it represents a risk to humans.  

  6. Trump promises to 'undo climate act' within hours of taking office

    Polluting factories

    The new White House administration has promised to tear up current climate change regulation within hours of Donald Trump taking office. 

    A statement on the White House website, posted shortly after Mr Trump became president, said he was "committed to eliminating harmful and unnecessary policies such as the Climate Action Plan". 

    It added: "The Trump Administration will embrace the shale oil and gas revolution to bring jobs and prosperity to millions of Americans. President Trump is committed to achieving energy independence from the Opec cartel and any nations hostile to our interests." 

    Mr Trump also aims to "revive America's coal industry, which has been hurting for too long," the statement said. 

    President Obama made the environment a cornerstone of his policies, including the Paris climate agreement to limit emissions which the US signed in 2015 alongside 200 other countries.

  7. ScotRail Alliance MD steps down

    Phil Verster

    The managing director of the ScotRail Alliance is leaving to become managing director of the East West rail project between Oxford and Cambridge.

    The 53-year-old has been facing intense pressure in recent months, because of the rail service's failure to meet targets on punctuality and reliability.

    The identity of his successor will be announced in the coming days.

    ScotRail Alliance was formed as a partnership involving Abellio ScotRail and Network Rail, intended to improve performance through cooperation between the rail operator and the rail infrastructure company. Read more here

  8. UK-US ties to 'prosper' under Trump

    The UK's relationship with the US is "deep and complex", Chancellor Philip Hammond told the BBC earlier today in Davos. 

    Video content

    Video caption: Hammond: UK-US ties to 'prosper' under Trump
  9. Davos 2017: Business leaders prepare to temper Trump

    Joe Miller

    Business reporter

    Donald Trump, US President

    Donald Trump's hand-picked policy advisers have indicated that some of his most controversial campaign promises may never be fully implemented.

    The BBC spoke to members of the Strategic and Policy Forum, a group of 19 business leaders who will meet with the incoming president, who will be sworn in on Friday, on a regular basis to help shape his economic agenda.

    They expressed scepticism over whether Mr Trump would be able to follow through on his pledges to rip up trade deals, repeal the Affordable Care Act or roll back energy regulations.

    Read more.

  10. Samsung's woes

    Rory Cellan-Jones

    Technology correspondent

    Samsung boss, JY Lee

    The mobile phone giant Samsung has had a torrid time over the last few months. First it had to withdraw its Galaxy Note 7 phone after some of them caught fire. (We will hear more about that when it unveils the results of its investigation into the problem on Monday).  

    Despite these crises, the company seems to sail on - with the Korean public not greatly disturbed about its conduct. Our man in Seoul, Steve Evans, is on the programme to tell us just how central Samsung is to the economy of South Korea. 

    Its revenues amount to 17% of the country's GDP, and as well as mobile phones this vast industrial conglomerate is involved in everything from hospitals to funerals. Koreans really do encounter Samsung from the cradle to the grave.  

    Stream the latest Tech Tent podcast.

  11. Davos thumbs up for Trump?

    Joe Miller

    Business reporter

    Wold Economic Forum sign

    What do Davos delegates expect in 2017?

    FTI Consulting polled those attending the World Economic Forum this week, and the results don’t make for comfortable reading. 

    Fully 93% said they expected globalisation to be replaced with protectionism, and a similar percentage thought territorial disputes in the South China Sea would escalate. A frightening 71% thought a large global bank would fail.

    But 79% said they thought President Trump would have a successful first year in office, with 46% very confident that he would boost the US economy. 

  12. Dollar gives up gains

    Dollar versus euro chart

    The dollar climbed during Mr Trump's inauguration ceremony but has now given up those gains. 

    It's flat against both the euro and pound, at €0.93740 and £0.81050.

  13. Will Trump be good for UK exports?

    BBC Radio 5 live

    Video content

    Video caption: What will President Trump do for US-UK trade relations?

    Currently the UK exports about $50 billion worth of goods to the US every year, and is the second biggest export market after the EU. 

    But if Mr Trump embraces protectionist trade policies, as he has threatened to, will this be jeopardised?

    This clip from Wake Up to Money explores the risks:

  14. Would Singapore model work for UK?

    Leisha Chi

    Business reporter in Singapore

    Singapore at night

    As we reported earlier, Singapore Prime Minister Lee Hsien Loong says the city-state is willing to sign a free trade deal with Britain after it exits the European Union.

    However, there has also been a flurry of headlines this week about how Britain may look to emulate Singapore's economic model - one of its former colonies - after exiting the single market. 

    They were mostly grim in tone. The Independent called it "a really bad idea," Politico went with "Britain's Singapore threat".

    But is the concept really so bad?

    Business leaders I spoke to, including the head of Southeast Asia's biggest bank DBS, didn't think it was such a far-fetched idea. Singapore has moved from third to first world status in an extraordinarily short period of time. 

    It has become a major financial centres and is consistently ranked as one of the easiest places to do business due to its lack of red tape and low tax environment. Clearly, something works here.