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  1. FTSE 100 closes 0.28% lower
  2. GKN reveals £40m of unexpected legal claims as warns on profit
  3. Wall Street stocks boosted by strong retail sales.
  4. Chemicals giant Bayer sells off unit as tries to secure Monsanto deal
  5. Virtual currency Bitcoin hits new high in Asian trading
  6. Stock exchange consultation on changing listing rules closes today
  7. Get in touch:

Live Reporting

By Karen Hoggan

All times stated are UK

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  1. Good Night

    Test card image

    That's it for another week on Business Live.

    We hope you've enjoyed our coverage over the past five days.

    We'll be back bright and early at 06:00 on Monday morning.

    Do join us for all the latest breaking news and analysis from the business world.

  2. Wall Street boosted by economic data

    Wall Street bull

    All three key US stock indexes rose on Friday helped by strong retail sales figures and signs that consumer sentiment is riding high.

    Inflation figures from the Labor Department also showed consumer prices rose 0.5% in September, while the year-on-year rate rose to 2.2%.

    The Dow Jones ended the day at 22,871.72, that's 31 points or 0.13% higher.

    The S&P 500 ended up 2 points of 0.09% at 2,553.17.

    And the tech-heavy Nasdaq closed at 6,605.80, a rise of 14 points or 0.22%.

    Netflix shares closed 1.85% higher - having hit a record high earlier in the day of $200.82 - after Goldman Sachs and others increased their price targets for the stock - ahead of its earnings report on Monday.

    Wells Fargo bank ended 2.75% lower after revenues for the fourth quarter came in below expectations for the fourth quarter in a row due to a decline in mortgage banking revenue.

  3. Jamie Magazine to close

    Jamie Oliver

    Jamie Oliver is to close his food magazine - the unambiguously-titled Jamie Magazine - at the end of the year as consumers turn increasingly to online recipes.

    A spokeswoman for Jamie Oliver Group said: "We've conducted extensive research into our audience needs and while Jamie's books are more popular than ever - 5 Ingredients Quick & Easy Food is the fastest-selling Jamie book - our audience is increasingly also looking to digital platforms to find content."

  4. 'Shape of Your' goes five times platinum

    Ed Sherran

    Ed Sheeran's Shape Of You single has gone five times platinum.

    When streams and downloads are added together, it works out as three million sales, according to the BPI which represents the UK music industry.

    Only Band Aid's Do They Know It's Christmas? and Elton John's Candle In The Wind '97 have sold more copies in the UK.

    Shape Of You is also the biggest selling single of 2017 so far, according to Official Charts data.

    The BPI made the announcement on Twitter. Read more form Newsbeat here

    View more on twitter
  5. Former Fifa boss denies allegations

    BBC World Service

    Jerome Valcke

    The former world football executive Jerome Valcke has denied allegations that the chief executive of the BeIN media group Nasser al-Khelaifi bribed him by letting him use a villa on the Italian island of Sardinia, reports BBC World Service.

    Mr Valcke's lawyer said he had paid rent for the villa and had a lease. Police have raided and impounded the villa in Porto Cervo.

    Swiss prosecutors say Mr Khelaifi let Mr Valcke use it in exchange for a discount on Middle East television rights for up to the next four World Cups.

    Mr Khelaifi, the Qatari chairman of Paris Saint Germain, has denied all the allegations.

    Prosecutors revealed on Thursday that in March they'd opened a second investigation into Mr Valcke. He was sacked as Secretary-General of world football's governing body FIFA in September 2015.

  6. Would you move home on Friday 13th?

    Fountain pen with 13 Friday diary entry

    How suspicious are you? Would you move home on Friday 13th?

    If not, you're not alone, it seems.

    Many people simply don't like moving house on on that day, figures from the Registers of Scotland suggest.

    Analysis of records dating back to 2003 showed that less than half the number of properties expected actually changed hands on that date.

    According to data from the previous Friday 13th, which occurred in January, 524 residential properties changed hands in Scotland.

    However, on the equivalent Friday in 2016 - which fell on the 15th of the month - 1,321 residential properties were exchanged. Read more here

  7. EU says Trump has 'no right' to terminate deal

    BBC World Service

    Federica Mogherini

    The European Union's foreign policy chief Federica Mogherini says President Trump has no right to terminate the nuclear deal with Iran, reports BBC World Service.

    She said it was not in the hands of any president in the world to terminate an agreement adopted unanimously by the UN Security Council, one that had been implemented and was working.

    She said the deal was even more important to preserve at a time of acute nuclear threat.

    She added that the international nuclear agency the IAEA had certified eight times through strict procedures that Iran was keeping its side of the bargain, to make sure its nuclear programme was exclusively for civilian use.

  8. Trump blow for Iran nuclear deal

    President Trump

    US President Donald Trump has condemned Iran as a "fanatical regime" and refused to continue certifying an international nuclear deal.

    He said Iran had carried out multiple violations of the 2015 deal and said he would work with Congress and US allies to repair its many flaws.

    But he said that if this didn't happen he would use his powers to terminate US participation in the deal.

    Mr Trump promised to ensure Iran never acquired a nuclear weapon and described nuclear agreement with Tehran as one of the worst the US had ever signed.

    The 2015 nuclear deal struck between Iran and five world powers - the US, UK, Russia, France, China, and Germany - was the signature foreign policy achievement of Barack Obama's presidency.

    The initial framework lifted crippling economic sanctions on Iran in return for limitations to the country's controversial nuclear energy programme, which international powers feared Iran would use to create a nuclear weapon.

  9. Asterix cover sells for £1.2m

    Another auction success story now - and an original illustration for the cover of an early Asterix comic book has sold in Paris for a record 1.4m euros (£1.2m).

    The drawing for "Asterix and the Banquet" - called "Le Tour de Gaul" in French- was signed by series creators, Albert Uderzo and Rene Goscinny.

    It had been expected to sell for about 180,000-200,000 euros, according to auction house Drouot.

    View more on twitter
  10. Burning money?

    Cigar butt with black and white photo of Churchill behind

    A cigar once smoked by former British Prime Minister Winston Churchill has sold for $12,000 (£9,000), according to the Boston-based RR Auction house.

    Churchill partially smoked the 10cm cigar at the Le Bourget Airport in Paris on 11 May 1947.

    It was sold on Wednesday night to a collector in Palm Beach, Florida. The buyer's name was not released.

    The half-smoked cigar was kept by a British airman who flew Churchill and his wife to and from Paris.

    Read more here

  11. IAG eyes Monarch's Gatwick slots

    BA tail fins

    British Airways owner IAG is interested in the London Gatwick slots of failed airline Monarch IAG boss Willie Walsh said on Friday.

    Monarch went bust on October 2, amid strong competition in the sector.

    "With Monarch, I think everybody's interested in slots at Gatwick, and that would be principally our interest as well... If we can get more slots at Gatwick, we'll certainly be looking for more," Mr Walsh told Reuters.

    He also said the reduction in capacity was good for the industry.

    Norwegian Air Shuttle's boss said on Thursday that he was also interested in the slots, depending on the price and clarification over how the slots will be allocated.

  12. Roof protest ends

    Man in roof space of Tesco

    A sacked security guard's 21-hour protest in the roof space of a Tesco store has ended after he received a letter to review his dismissal (see earlier post).

    Adama Jammeh climbed onto the girders above the checkouts in Tesco Extra, Reading, on Thursday evening.

    In a series of Facebook videos, the 46-year-old said he was sacked after being wrongly accused of stealing.

    In its letter, Tesco said evidence suggested Mr Jammeh may have suffered "a significant injustice".

    The former guard was led out of the store by police shortly before 15:00 BST.

    He was arrested on suspicion of public order offences, a Thames Valley Police spokesman said. Read the full story here

  13. Crack down on fake sickness claims

    Food serving dishes

    Efforts to crack down on UK tourists making fake claims for holiday sickness are being stepped up by the government.

    It is proposing rules that would limit payouts by travel companies, which it hopes will deter bogus claims.

    The Association of British Travel Agents (Abta) said there were about 35,000 claims over holiday sickness in 2016, a 500% rise since 2013.

    The travel industry says the total cost of all claims was £240m in 2016 and risks raising holiday prices for all.

    Read the full story here

  14. Sterling's rise continues

    Pound dollar intraday graphic Friday 13 October 2017
    Pound euro intraday graphic Friday 13 October 2017

    Let's check in on the pound now - and it's been a bit of an up and down day.

    Sterling rose late on Thursday following a report in Germany's Handelsblatt suggesting the EU could offer the UK a two-year transitional Brexit deal, and it's managed to cling on to those gains and edge further ahead.

    A short while ago it was up 0.33% against the dollar at $1.3307 and 0.23% higher against the euro at €1.1234.

  15. Vedanta will appeal against court ruling

    Vivienne Nunis

    Business reporter, BBC News

    More now on the story that the UK court of appeal has ruled that a group of Zambian villagers can pursue a claim for damages against the mining giant Vedanta Resources in the English courts (see earlier post).

    They claim their water supplies were contaminated and their health damaged by pollution from a copper mine.

    The 1,800 villagers live near the Nchanga mine in Zambia's copperbelt. The mine is operated by Vedanta's subsidiary KCM.

    The villagers say their land and livelihood have been destroyed by pollution over a decade, and in 2015 they took their claims to the UK's High Court - because Vedanta is listed on the London Stock Exchange.

    Vedanta and KCM challenged the jurisdiction of the English courts to hear the case, arguing they should be heard in Zambia instead.

    Today, the Court of Appeal has ruled in the villagers' favour. The decision is being seen by some experts as a warning to other multinational companies with operations overseas.

    Vedanta and KCM say they're examining the judgement and will appeal.

  16. Regulator calls for checks on A380 engines

    BBC World Service

    Picture of damaged engine on the plane

    The US civil aviation regulator, the FAA, has told operators of Airbus A380 superjumbos to carry out urgent checks on their engines.

    It follows an incident late last month involving an Air France A380 that had to make an emergency landing after suffering a major uncontained engine failure while flying from Paris to Los Angeles.

    The FAA directive applies to aircraft fitted with American-built Engine Alliance turbofans -about 60% of the A380s in service.

    Superjumbos using engines built by Rolls Royce are not affected.

  17. FTSE 100 retreats from record high

    London Stock Exchange blue

    The FTSE 100 has retreated from its record high close, ending Friday 21 points or 0.28% lower at 7,535.44.

    Mining companies were among the highest climbers, with Rio Tinto gaining 3.27% and Glencore 2.69%.

    Meanwhile, GKN fell by 9.84% after the engineering company warned its annual profit would fall short of expectations, blaming disappointing aerospace trading and two unexpected legal claims which are likely to result in a charge of about £40m in the fourth quarter of this year.

    The mid-cap FTSE 250 finished 8 points or 0.04% ahead at 20,259.51.

    On the 250 TalkTalk was the biggest faller, losing 6.15%.

    The second biggest gain was seen by doorstep lender Provident Financial which climbed by 12.55%.

    Earlier the troubled lender said it had put a recovery plan in place for its home credit business.

    In August, shares in the company had dropped by two-thirds in one day after it issued a profit warning. Provident ran into trouble after an attempt to reorganise its door-to-door lending business failed to work.

  18. Hammond: 'Enemy' is 'out there'

    Chancellor Philip Hammond has been giving a series of interviews in Washington today - and one, in particular, has been seized on by multiple media outlets because of his use of the word "enemy" to describe the EU.

    Speaking to Sky New Mr Hammond said: "My message is this: I understand that passions are high and I understand that people have very strong views about this but we're all going to the same place, we all have the same agenda.

    "The enemy, the opponents are out there, they're on the other side of the negotiating table.

    "Those are the people we have to negotiate with, negotiate hard to get the very best deal for Britain."

    View more on twitter