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Live Reporting

Dearbail Jordan

All times stated are UK

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  1. Good night

    Test card F

    Thank you for joining Business Live for a busy week of news.

    We will be back bright and early at 6.00am on Monday morning - we look forward to you logging on for all the breaking business and economics stories.

    Until then, have a great weekend.

  2. How one man built a $51m theme park for his daughter

    Gordon and Morgan Hartman

    A father from Texas realised there were no theme parks where his disabled daughter could play. So he decided to build one.

    Gordon Hartman had just got out of the swimming pool on a family holiday, when his 12-year-old daughter Morgan went up to some children playing in the water. She tried to make friends with them but they quickly left the pool.

    Hartman thinks they shied away from her because they didn't know how to react to someone with a disability - Morgan has the cognitive understanding of a five-year-old as well as a form of autism.

    The incident played on his mind.

    Read more here.

  3. Wannacry money laundering attempt thwarted

    The ransomware sought a payment before it would decrypt files

    The hackers behind the Wannacry ransomware have tried to conceal who they are by using a virtual currency that is more anonymous than Bitcoin.

    Victims paid more than $140,000 (£107,000) in bitcoins to recover files scrambled by Wannacry.

    Earlier this week the gang behind the attack started to move the bitcoins out of the wallets they were paid into.

    Read the full story here.

  4. Wall Street closes higher after strong jobs report

    US stock market trader

    Wall Street has closed higher after a better-than-expected US jobs report. This could clear the way for the Federal Reserve to announce a plan to start shrinking its $4.5trn bond portfolio in September, and could strengthen its case to raise rates for the third time this year in December.

    The Dow Jones Industrial Average was up 64.72 points, or 0.29%, at 22,090.82 and the S&P 500 was up 4.65 points, or 0.19%, at 2,476.82. The Nasdaq Composite was up 11.22 points, or 0.18%, at 6,351.56.

  5. Watch: Fixing cars and stereotypes in Senegal

    Video content

    Video caption: Fixing cars and stereotypes in Senegal

    "In the end people judge you on what you can do," says car mechanic Fatou Sylla.

    She tells the BBC's Vumani Mkhize how she and a friend set up a female-run car repair firm in Senegal's capital Dakar.

  6. US 'set for one more interest rate rise'

    US jobs

    What do the stock markets make of Friday's US new jobs figures for July?

    Eric Wiegand, senior portfolio manager at US Bank Private Client Reserve, reckons the Federal Reserve will begin to unwind its economic stimulus programme.

    "It's encouraging to see average hourly earnings come in line after falling the previous month.

    "I do think it (validates the Fed). Our expectations continue to be that we'll see a measured, moderate, deliberate reduction of the balance sheet and we're likely to see one more rate hike in the latter part of the year."

  7. Watch: Million dollar idea - the Tetra Pak

    The BBC's Aaron Heslehurst takes a look at the deceptively simply - but incredibly lucrative - Tetra Pak.

    Video content

    Video caption: How the Tetra Pak became a million dollar idea
  8. Eggs at the push of a button

    First it was Uniqlo shirts at an airport, then it was fresh oysters in France. Now a farm is selling eggs via a vending machine.

    What's next?

    View more on twitter
  9. China and Germany to report trade data

    Donald Trump

    Expect some interesting tweets from US President Donald Trump next week.

    China and Germany are due to publish trade figures next week, both of which are likely to show a surplus with the US.

    Yang Zhao, chief China economist at Nomura, told Reuters: "We see a bumpy road ahead for the trade relationship between the two countries.

    "But it is unlikely that the two nations will enter a true trade war."

    Peter Dixon, global financial economist at Commerzbank, concurs: "Do I think that the US will be dumb enough to go ahead and put in place a series of measures which will act as an obstacle to trade with these countries? I suspect not."

  10. Standard Chartered says Brexit relocation to cost $20m

    Standard Chartered will have to spend about $20m making Frankfurt its European base after Brexit, chief executive Bill Winters has said.

    Banks have started to set contingency plans in motion so they can retain EU market access.

    Mr Winters added: "One question is where can people sit after Brexit?"

    "It would be costly to physically move all your people who deal with a European client. Basic sales staff and relationship managers are already in situ across the continent."

  11. Former VW executive 'broke trust of US customers'

    Volkswagen car production

    More on Oliver Schmidt, the former Volkswagen executive who pleaded guilty in a Detroit court to charges in relation to the diesel emissions scandal.

    Deputy Assistant Attorney General Jean Williams, says: "Schmidt participated in a fraudulent VW scam that prioritized corporate sales at the expense of the honesty of emissions tests and trust of the American purchasers.

    "Schmidt, along with each and every official involved in this emissions scandal, will be held fully accountable for their actions by the Department of Justice as this investigation continues."

    Under a plea agreement, Mr Schmidt faces up to seven years in prison and a fine of between $40,000 and $400,000 after admitting to conspiring to mislead US regulators and violating clean air laws.

  12. US oil rig count edges down

    US oil rig

    Oil prices have been lifted by a fall in the number of active rigs in the US.

    Drillers cut one oil rig in the week to 4 August, according to energy services company Baker Hughes, to take the total count down to 765.

    However, it is ahead of 381 active oil rigs in the same week last year.

  13. Oil prices rebound

    Oil prices have reversed and are now trading up.

    Brent crude is ahead 0.3% at $52.16 a barrel. West Texas Intermediate is up 0.6% at $49.33.

  14. Blue Apron to cut strings with staff

    Blue Apron is a US meal-kit delivery company which floated in New York in June.

    A little over a month later, it has announced some 1,270 jobs will be cut because it plans to close a facility in New Jersey and move the plant 15 miles away.

    Blue Apron floated at $10 a share, and it is now trading at $6.12.

    Blue Apron share price
  15. Bridging the gulf

    BBC Radio 5 live

    Electric cars

    While Quentin Willson likes electric and hybrid cars - he drives a Nissan Leaf himself - he points out that there is a wide gulf between getting people to switch over from their diesel-fueled vehicles.

    He told Radio 5 Live Drive: "We’re only talking about 100,000 cars in the UK compared to 1.7m diesel cars. It is a great rise but it just shows how long we’ve got to go to get that 100% electrification by 2040."

  16. UK diesel car market faces a 'cliff edge'

    BBC Radio 5 live

    Diesel fuel

    OG Top Gear presenter and journalist Quentin Willson reckons that sales of diesel cars are facing "a cliff edge" in the UK because of people are so uncertain over what vehicles to buy.

    Commenting on new car registrations data for July, he told Radio 5 Drive: "We've seen a lot of uncertainty in consumers' minds over the diesel market over the last two years and this has affected sales.

    "Then Michael Gove's recent announcement of banning all petrol and diesel cars and hybrids by 2040 has also created even more uncertainty. Throw in Brexit and we're looking at really some startling figures here."

    Mr Willson: "If you really wanted to really destabilise the market, this is the way to do it - talk about political uncertainty of Brexit and talk about the political impossibility of us running diesels and all of a sudden you've got this cliff edge."

  17. That's entertainment for the FTSE

    The Skull Island Experience at Madame Tussauds in New York
    Image caption: The Skull Island Experience at Madame Tussauds in New York

    The FTSE 100 has closed up 40.37 points at 7,515.14.

    Madame Tussauds-owner Merlin Entertainment led the risers, with its share price up 5.68% at 489.10p following strong results.

    Shares in RBS also ended ahead at 261.70p following a 2.15% rise.

    The prospect of the government reviewing its Help to Buy scheme kept the house-builders in the doldrums.

    Barratt Development's share price finished 4.53% lower at 590p, Persimmon's stock closed 3.8% down at £24.68 and Taylor Wimpey's shares ended 3.5% off at 188.30p.

    The FTSE 250 closed up 61.49 points at 19,969.73.

  18. US stocks trim gains

    The Dow Jones Industrial Average has trimmed gains but is still ahead 16.78 points at 22,042.88.

    The S&P 500 is up 3.57 points at 2,475.73.

    The Nasdaq has added 17.72 points to 6,358.12.