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Live Reporting

By Dearbail Jordan

All times stated are UK

  1. Good night

    Test card

    That's it from Business Live.

    We wish you a relaxing weekend.

    We will be back from 6.00am on Monday and look forward to you joining us then.

  2. US stocks close lower

    Wall Street traders

    After a very turbulent week, the Dow Jones Industrial Average finished 558.7 points or 2.2% down to 24,388.95.

    The S&P 500 ended 62.8 points or 2.3% down to 2,633.08.

    The Nasdaq closed 219 points or 3% lower to 6,969.25.

  3. ATM attcks surge

    Video content

    Video caption: A gang is convicted of robbing cash machines by blowing them up

    Thieves are increasingly trying to smash or blast their way into UK cash machines - with the number of attacks on ATMs nearly doubling in four years.

    Attempts to steal cash have risen from 400 attacks in 2014 to 723 last year, according to a report by ATM operator Cardtronics.

    It said one in five incidents in Europe occurred in the UK.

    Thieves are generally unsuccessful, with 41% of cases resulting in cash being stolen.

    Read more here

  4. Meng Wanzhou 'would not embarrass Huawei or China'

    A court sketch of Huawei's finance chief Meng Wanzhou
    Image caption: A court sketch of Huawei's finance chief Meng Wanzhou at a bail hearing on Friday

    CBC News reporter Rafferty Baker says that Meng Wanzhou's lawyer is now arguing why his client, the chief financial officer of Huawei, should be granted bail...

    View more on twitter
  5. Trade talks and Huawei arrest 'two separate events'

    Huawei chief financial officer Meng Wanzhou
    Image caption: Huawei chief financial officer Meng Wanzhou

    Stock markets are still spooked by the arrest of Huawei's finance chief and whether it will have an impact on trade talks between the US and China.

    Meng Wanzhou was arrested in Canada on Saturday - the same weekend that US President Donald Trump met with China's President Xi Jinping at the G20 summit in Argentina where they agreed to a 90-day pause in the trade war.

    Peter Navarro, the US Director of Trade and Industrial Policy, told CNN that the two “are two separate events”.

    He said the arrest of Meng Wanzhou was a result of “the bad actions of Huawei”.

    “The timing was unusual, but the actions were legitimate.” he said.

  6. Where next for US interest rates?

    Interest rate illustration

    The president of the St. Louis Federal Reserve says that US monetary policy is "at a turning point".

    The US Federal Reserve is expected to lift interest rates this month but there is a question mark over the pace of future increases.

    James Bullard, who is one of four regional Fed presidents who will vote as part of the Federal Open Market Committee in 2019, says the central bank has "normalised policy a lot" with eight interest rate rises since 2015.

    He said that "inflation is low and looks to be very stable" and said the recently narrowed yield curve, which may signal market concerns that the Fed is too "hawkish," would also give the central bank reason to pause.

  7. Gasps in court at Huawei bail hearing

    BBC Silicon Valley reporter Dave Lee is in court at the bail hearing for Huawei's finance chief Meng Wanzhou.

    Follow his coverage at @DaveLeeBBC

    View more on twitter
  8. BreakingHuawei finance chief faces fraud charges over Iran

    The British Columbia Supreme Court
    Image caption: The British Columbia Supreme Court where a bail hearing for Meng Wanzhou is being heard

    Meng Wanzhou, chief financial officer of Chinese telecoms giant Huawei, is facing fraud charges relating to alleged sanctions-breaking dealings with Iran, a Canadian court has heard.

    Details of the charges were revealed when a publication ban was lifted by a judge in Vancouver.

    Ms Meng, daughter of Huwei's founder, was arrested in the city on Saturday and faces extradition to the US.

    The court is deciding whether or not to allow bail.

  9. Dow Jones tumbles 500 points

    US stock market trader

    The Dow Jones Industrial Average has extended it fall and is now down 508.84 points, or 2%, at 24,438.83.

    The Nasdaq is also lower, down 2.6% at 6,999.34.

    The S&P 500 is down 1.67% at 2,650.

    Confusion over US-China trade talks and their 90-day pause in hostilities, is still spooking investors.

    "This week had trade written all over it," said Paul Nolte, portfolio manager at Kingsview Asset Management.

    He said President Trump's administration "play good cop and bad cop and it changes. Kudlow one day is a good cop. The next day he's a bad cop. Trump is all over the place. Nobody on Wall Street understands what is the end game."

  10. Video content

    Video caption: Do Americans facing fresh economic hardship blame Trump?

    The US president made protecting American jobs a central plank of his election campaign. How is he doing?

  11. OPEC deal will support US drilling

    Oil rig

    There has been mainly favourable reaction to an oil production cut agreed by OPEC and its allies, including Russia.

    So far there has been no word (or tweets) from US President Donald Trump who has been calling for Saudi Arabia, the largest member of OPEC, to keep a lid on oil prices.

    However, Ann-Louise Hittle, vice president of macro oils at Wood Mackenzie, says: "The decision is likely to be met with support from some US producers who were concerned that without a deal, West Texas Intermediate prices would fall further, possibly curtailing 2019 drilling activity."

    She adds that the 1.2 million barrels per day cut in daily oil output would cause Brent crude to rise back above $70.

  12. Huawei arrest will not affect US-China trade talks, says Kudlow


    President Donald Trump's senior economic adviser Larry Kudlow does not expect the arrest of Huawei's chief financial officer Meng Wanzhou in Canada to have an impact on trade talks between the US and China.

    The US is seeking the extradition of Ms Meng "to face unspecified charges in the Eastern District of New York".

    It has been suggested that the arrest is related to claims that Huawei has violated US sanctions against Iran.

    Mr Kudlow said on Friday that Huawei had been warned for "quite some time" about violations on Iran sanctions, but he added that he remains optimistic about the trade talks.

    Want to know what's going on with Huawei? Click here for everything you could possibly want to know.

  13. US stocks head downwards

    A brief respite in earlier US stock market trading has evaporated.

    The Dow Jones Industrial Average is now down 451.26 points, or 1.81%, at 24,496.41.

    The Nasdaq is off 2.30%, or 165.50 points, at 7,022.76 and the S&P 500 is down 1.46% at 2,656.50.

  14. 'I care deeply for all my colleagues'

    Ted Baker founder Ray Kelvin
    Image caption: A rare picture of Ted Baker founder Ray Kelvin, who usually covers his face in photos

    More from Ray Kelvin, the founder and chief executive of Ted Baker who has taken a voluntary leave of absence following claims of forced hugging, inappropriate touching and comments as well as "further serious allegations".

    His full statement reads:

    "The accusations of the past week have raised some very serious and upsetting issues. It is only right that the board and Herbert Smith Freehills should investigate fully.

    "Ted Baker has been my life and soul for 30 years. I love this company and I care deeply for all my colleagues. It’s for that reason that I have decided to take a temporary leave of absence.

    "Ted Baker means everything to me and I can’t bear to see it harmed in any way.”

  15. OPEC deal boosts oil stocks

    Oil pumps

    The FTSE 100 ended the week on the up, closing 1.28% ahead at 6,789.74.

    John Wood Group, the oil services business, finished the day at the top of the blue chip risers, with its share price up 4.42% at 628p.

    A production cut by OPEC and its allies sent oil companies to the top of both indexes.

    On the FTSE 250, Premier Oil's share price rose 14.75% to 75.85, followed by Tullow Oil, up 7.4% at 189.6p and Cairn Energy, ahead 4.8% at 167.7p.

    An earlier statement by Primark that it had experienced a "challenging November" meant that its parent company, Associated British Foods, was the biggest faller on the FTSE 100.

    Its share price fell 4.6% at £22.42.

    The FTSE 250 ended 0.51% higher at 0.51% at 17,844.11.

  16. Ted Baker shares fall

    Ted Baker shiop sign

    Investors didn't have much chance to react to the announcement that Ted Baker's founder and chief executive, Ray Kelvin, is taking a voluntary leave of absence - it emerged just three minutes before stock market trading closed at 4.30pm.

    Still, shares in Ted Baker fell 2.32% at £14.76.

    Ted Baker's share price movement during Friday
    Image caption: Ted Baker's share price movement during Friday

    David Bernstein, non-executive chairman at the company, said: "Ted Baker has great people across its global teams as well as a highly experienced operational board underpinned by the strength and experience of our teams, I am confident that the business remains in a strong position to continue to deliver its long-term growth strategy."

  17. Kelvin takes leave 'for the benefit of the business'

    Ted Baker founder Ray Kelvin
    Image caption: Ted Baker founder Ray Kelvin famously refuses to show his full face in photos

    Allegations about Ted Baker boss, Ray Kelvin, first emerged last weekend when staff members at the fashion retailer started a petition claiming that there was a culture of "forced hugging" at the company.

    It also accused the 62-year-old Mr Kelvin of inappropriate comments and behaviour.

    In its announcement on Friday, Ted Baker said: "Ray Kelvin has agreed, for the benefit of the business and the people who work in it, that he will take a voluntary leave of absence from his role with the company while these allegations are investigated."

    It has appointed chief operating officer Lindsay Page as acting chief executive.

    Ted Baker has put together an "an independent committee of non-executive directors to ensure that the views and concerns raised in recent media reports and a petition are recognised and carefully considered and that appropriate responses are taken forward".

    It has appointed City law firm Herbert Smith Freehills to conduct an external investigation into the claims.