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Summary

  1. FTSE 100 climbs on weak pound
  2. Npower targeted on shock price rise
  3. UK services sector growth slows
  4. Fukushima radiation at record high
  5. Get in touch: bizlivepage@bbc.co.uk

Live Reporting

By Dearbail Jordan

All times stated are UK

Get involved

  1. Good night

    Test card f

    That's it for another extraordinary week in business and economics.

    Have a great weekend and we look forward to you joining Business Live again on Monday morning from 6.00am sharp.

  2. Time to meet Dame Vera Lynn again

    Decca is releasing a new album featuring the voice of 100 year-old Dame Vera Lynn. 

    Dame Vera, famed as the forces sweetheart during the Second World War, has been with Decca throughout her career.

    View more on twitter
  3. US stocks get Trump boost again

    Donald Trump's first step to try to scale back US financial services regulations has gone down well with US markets, plus a strong US jobs report.

    The Dow Jones Industrial Average closed above 20,000 at 20,070.43, up 185.52 points, the S&P 500 closed at 2,297.30, or 16.49 points higher, and the Nasdaq closed at 5,666.77 or 30.57 points up, a record high.

  4. US tech start-ups fret over immigration ban

    IT worker

    Start ups in the US were particularly strident in their criticism of Donald Trump's immigration travel ban, and not just on moral grounds. 

    Immigrants represent a large proportion of the sector's work force and have helped found many of Silicon Valley's best known companies (Apple and Google being just two examples). 

    "There is a panic in the start-up community," Bill Stock, president of the American Immigration Lawyers Association, told Reuters. "Startups are very concerned because of the unpredictability of the order."  

    "Here and now, today, we have businesses that are stopping because their employees can't travel in and out of the United States," added David Cowan, a partner at venture capital fund Bessemer.

    "This will be the number one cause of missed business plans in 2017."

  5. Financial review sends stocks above 20,000

    Trader

    Dow Jones stocks jumped back over 20,000 on Friday after US President Donald Trump signed an executive order to review the Dodd Frank Act.

    The Dow Jones industrial average rose 175.31 points to 20,060.22.

    Shares in US financial institutions soared following the announcement, with Visa's stock leading the risers, up 5%.

    Goldman Sachs and JP Morgan also enjoyed big gains on Friday, rising 4.3% and 2.8% respectively. 

    Jamie Dimon, chairman and chief executive of JP Morgan, is a member of Mr Trump's Strategic and Policy Forum.

    At a meeting earlier today, Mr Trump said: "We have some of the bankers here. There's nobody better to tell me about Dodd Frank than Jamie so you're going to tell me about it." 

  6. The Trump effect

    In just a week an awful lot of things have happened in the world of Trump.

    Here's just a few...

    Video content

    Video caption: Who's the latest Trump-related casualty?
  7. Iran retaliates against US sanctions

    Iran has announced that it impose legal restrictions on US individuals and entities that help "regional terrorist groups" in answer to sanctions announced by the new American administration.

    Reuters reports that Iran's foreign ministry said: "In retaliation for the US sanctions, Iran will impose legal restrictions on some American individuals and entities that were involved in helping and founding regional terrorist groups."

    It said names of the entities and individuals would be announced later.

  8. Dodd Frank protects homeowners

    US home

    Democrat congressman Jim Himes tells the BBC: "Dodd-Frank of course was the legislative response to the economic carnage that came about because of the financial meltdown of late 2008.

    "Much of the legislation... is designed to get at those things which went horribly wrong, that is to say, problems in the mortgage market" he said.

    Dodd-Frank prohibits the sale of mortgages to clients who can't repay them, it restricts the number of complicated mortgages, and restricts bundling those mortgages up and selling them as securities, he said.

  9. Trump signs Dodd Frank executive order

    Donald Trump

    On signing an executive action on the Dodd-Frank Act, US President Donald Trump said: "Today we're assigning core principals for regulating the United States financial system...it doesn't get much bigger than that, right?"

    Earlier this week, the president said that Dodd Frank was "a disaster" and "we're going to be doing a big number" on it. 

  10. White House sets out timetable for regulatory changes

    Steven Mnuchin

    More on US President Donald Trump's plan to "cut a lot" out of Dodd Frank, the law that was introduced to stop another financial crisis.

    The US Treasury Secretary will have to submit a report on regulatory changes and legislative recommendations in 120 days, according to a White House official.

    Steven Mnuchin is the Treasury Secretary nominee. He is a former partner of US investment bank Goldman Sachs. During the financial crisis, he and a group of investors bought a mortgage lender called IndyMac which was renamed OneWest Bank.

    The lender was subject to legal action and protests over alleged aggressive foreclosure practices.

  11. Oil rises on Iran sanctions

    Oil prices crept up on Friday after the US introduced sanctions against Iran.

    Brent crude rose by 30 cents to $56.86 a barrel while US oil added 24 cents to $53.78.

    The new US administration announced a number of sanctions against Iran on Friday after the country recently launched a ballistic missile test.

  12. US lands cut price jets deal

    F-35 jet

    The Pentagon has negotiated a price cut on 90 F-35 stealth fighter jets in an $8.5bn deal with Lockheed Martin.

    The US Department of Defense will pay below $95m per jet for the first time compared to the $102m price tag for the last order. 

    US President Donald Trump has been a vocal critic of the cost of the programme, which he said was "out of control, and has publicly considered handing a contract to Boeing instead to update its F-18 jet. 

    Marillyn Hewson, chairwoman, president and chief executive at Lockheed Martin has had meetings with Mr Trump. She said in December: "I've heard his message loud and clear about reducing the cost of the F-35."

    "I gave him my personal commitment to drive the cost down aggressively We're ready to deliver."

  13. Dodd Frank has prevented Trump's friends from borrowing

    Stephen Schwarzman (L) Donald Trump (C) Mary Barra (R)

    US President Donald Trump says he expects to "cut a lot out" of the Dodd Frank Act which has stopped some of his friends from borrowing money.

    The US administration has announced it will undertake a review of the law which was introduced to stop a repeat of the financial crisis which ushered in a recession.

    At a meeting of his Strategic and Policy Forum, which includes Jamie Dimon, chairman and chief executive of JP Morgan, Mr Trump said: "We have some of the bankers here. There's nobody better to tell me about Dodd Frank than Jamie so you're going to tell me about it.

    "But we expect to be cutting a lot out of Dodd Frank because frankly I have so many people, friends of mine that have nice businesses, they can't borrow money, they just can't any money because the banks just won't let them borrow because of the rules and regulations in Dodd Frank so we'll be talking about that Jamie in terms of the banking industry." 

  14. Dodd-Frank review a 'win' for banks

    Wall Street bull

    Investors are welcoming the new US administration's review of financial regulations which were introduced under President Obama to stop a repeat of the financial crisis.

    Robert Pavlik, chief market strategist at Boston Private Wealth, says: "I like the rollback of Dodd-Frank.

    "It's a net-net win for the overall financial market because these rules and regulations have meant a big increase in costs for major banks and brokerage firms."     

    Jasper Lawler, a senior market analyst at London Capital Group, said: "Since Dodd-Frank was introduced, banks have devoted a lot more capital towards compliance and have had to decrease leverage, both of which are a direct hit to profitability.

    "If Dodd-Frank is watered down, that's a direct boost to the bottom line for banks." 

  15. BreakingUS announces review of financial regulations

    The US government has just announced that it will go ahead with a review of the Dodd-Frank Act, which was introduced in 2010 following the financial crisis.

  16. Banks buoy London stocks

    Barclays

    The FTSE 100 ended 47.55 points ahead at 7,188.30 on Friday, with financial institutions leading the way.

    Barclays led the rises, up 3.3% at 228.85p, followed by insurer Prudential whose shares grew 3% to £16.00. Stock in RBS also rose by 2.7% at 228.5p despite sustaining a $85m fine in the US.

    Jonathan Roy, investment manager at Charles Hanover Investments, told Reuters: "Generally investor sentiment around the banks, especially with Donald Trump coming in, is starting to improve."

    The US president is set to review the Dodd-Frank Act which was introduced in 2010 in response to the global financial crisis.

  17. Snap to it

    The US owner of Snapchat messaging app is about to make a buncle when the business floats with a value of between $20bn and $25bn.

    However, there are ways that Joe or Josephine Public can make a living out of the messaging app. 

    Tanner Fox explains how...

    View more on twitter
  18. US jobs growth will be 'big league'

    Donald Trump

    More from US President Donald Trump on today's job figures which provoked a mixed reaction from Wall Street - see previous posts.

    Commenting on future employment prospects, Mr Trump said: “I think that it’s going to continue big league.”

    "We're bringing back jobs, we're bringing down your taxes, we’re getting rid of your regulations. I think it's going to be some really exciting times ahead.” 

  19. RBS fined over benchmark manipulation claims

    RBS

    RBS is to pay a $85m fine to resolve civil charges that it attempted to manipulate a global benchmark for interest rate products.

    The case was brought by the Commodity Futures Trading Commission after a number of parties accused 14 banks of conspiring to rig the "ISDAFIX" benchmark for their own gain from at least 2007 to 2012.

    Chief executive Ross McEwan, said: "This is an example of past misconduct that has no place at RBS.

    "These findings make for uncomfortable reading and we have already taken significant steps to make sure this kind of behaviour cannot happen again."