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  1. Get in touch:
  2. Sterling falls to $1.25
  3. Carpetright losses grow but restructure is on track
  4. FTSE 100 closes more than 1% up
  5. WPP shares rise on new strategy

Live Reporting

By Russell Hotten

All times stated are UK

  1. Goodnight

    We're done for another day. Back tomorrow at the usual time of 6am. Please join us then.

  2. Spending cuts to fund Macron concessions

    President Emmanuel Macron (L) and Bruno Le Maire (R)

    Measures to defuse France's yellow-vest protests will cost €10bn (£9bn; $11bn), says Finance Minister Bruno Le Maire.

    That money will be offset by cuts in other government spending, he says.

    Mr Le Maire, speaking a day after President Emmanuel Macron outlined the changes on TV, said planned reforms remained on course despite the concessions to protesters.

    France would still honour deficit-to-GDP targets set by the EU, he told British and American journalists. Read the full story here

  3. Wall Street back down to earth

    The S&P 500 and Dow Jones ended a volatile session down slightly as investor optimism over China-US trade talks was offset by President Donald Trump's threat to shut down the government over budget issues.

    At the close, the Dow was down 0.22% to 24,370.2 points, the S&P 500 lost 0.04% to 2,636.7, and the Nasdaq added 0.16% to 7,031.8.

    Wall Street had jumped sharply at the start of trading in response to a Trump tweet that US-China talks were progressing well.

  4. Rising pay growth 'little consolation' says TUC

    Despite average weekly earnings going up by 3.3% in the three months to October, the TUC says that real wages are "expected only to get back to pre-crisis level in 2024".

    TUC general secretary Frances O'Grady says: "The rise in pay growth is little consolation for workers in the middle of the longest pay squeeze in 200 years.

    "We need a plan that supports jobs and wages."

  5. Trump in Oval Office scrap with Democrats

    trump and schumer

    Mr Trump publicly argued with Nancy Pelosi and Chuck Schumer over a budget to keep the government open - which unnerved investors and led to Wall Street giving up early gains.

    Trump in Oval Office scrap with Democrats

    trump and schumer

    Mr Trump publicly argued with Nancy Pelosi and Chuck Schumer over a budget to keep the government open.

    Read more
  6. Canada's PM confirms China detention

    Meng Wanzhou
    Image caption: Meng Wanzhou is the daughter of the company's founder

    Canda's Prime Minister Justin Trudeau has confirmed that a Canadian national, reported to be a former diplomat, has been detained in China, and said his government is seeking answers from Beijing.

    "We are aware of the situation of a Canadian detained in China. We have been in direct contact with the Chinese," he said, adding that Ottawa takes the matter "very seriously".

    It comes, of course, after the detention in Canada of Chinese tech firm Huawei's chief financial officer, Meng Wanzhou. She faces extradition to the US over claims the company violated

  7. Wall Street drifts back

    Wall Street gave up most of its early gains after President Donald Trump's threat to shut down the government over funding for a border wall undid the boost to markets from optimism over China-US trade talks.

    The three main indexes opened strongly, fuelled by a Trump tweet about progress with China negotiations. The Dow Jones, S&P 500 and Nasdaq are now up between 0.2% and 0.4%.

  8. Bentley faces trademark claim - over clothes

    Bentley car

    A business has launched a legal claim against Bentley Motors over the ownership of a clothing trademark.

    Brandlogic, owner of Manchester-based Bentley 1962 clothing, is seeking an injunction to stop the car firm using the name Bentley on UK clothing.

    It claimed in the High Court the car manufacturer had "badly damaged its business".

    Bentley pledged to defend proceedings, saying it had sold clothes for more than 30 years without being confused.

    You can read more here.

  9. China to cut car tariffs?

    There's still nothing official on reports that China may cut import tariffs on US cars. But Reuters says car executives were briefed about the news late on Monday US-time.

    The Wall Street Journal says that Chinese vice premier Liu He told US trade representative Robert Lighthizer and treasury secretary Steve Mnuchin that China would cut car tariffs to 15%

    China hiked its tariffs on American cars and parts to 40% earlier this year after the US raised its tariffs on Chinese vehicles and parts to 27.5%.

  10. Transport for London plans cuts

    Tube delays

    London's transport authority is planning to cut jobs and investments as it faces growing financial pressures.

    Transport for London (TfL) has been hit by the loss of a £700m annual government grant, delays to Crossrail and reduced fare revenue.

    Its draft five-year business plan sets out how it intends to reduce "back and middle office costs" by 30%, which will involve job losses.

    Schemes to improve signalling on the Piccadilly line and deep Tube lines to enable London Underground trains to run closer together will be paused, as will work to transform Camden Town station.

    Finn Brennan of train drivers' union Aslef described the plan as "terrible news for passengers".

    He said: "These cuts mean that for decades ahead, overcrowding on the Tube will get worse and worse.

    "There will also be more cuts to staff numbers and station upgrade programs inevitably leading to more delays."

  11. Amazon sackings 'follow sales data leaks'

    Inside Amazon warehouse

    Amazon has sacked workers it believes had been misusing internal data on high-selling products, the Wall Street Journal (WSJ) reports.

    Amazon reportedly believed the staff, in India, China and the US, had abused their access to an internal database.

    And some USB ports on desktop computers had since been disabled so no further data could be copied, the paper said.

    Amazon said staff that broke its "high ethical standards" could be sacked or face legal action. Read the full story here

  12. BreakingTrade talk breakthrough

    Reports are starting to emerge that White House officials have told carmakers that China will cut tariffs on its car imports from 40% to 15%.

    No official confirmation yet, but it does follow a tweet from Donald Trump earlier today saying there would be some big news on trade talks.

  13. No-confidence in sterling

    Sterling is still bumping along the $1.25 mark. As we reported earlier, the pound slipped sharply on Sky News reports that Tory MPs have enough backers to mount a no-confidence vote in the prime minister.

    Sky's deputy political editor cited sources saying MPs were "pretty confident" they had the 48 letters needed to trigger a no-confidence vote.

    But there is still nothing official, and other media has reported that the 48-letter requirement had not yet been reached.

  14. Google: No China search plans - yet

    Sundar Pichai

    More from Google chief executive Sundar Pichai's testimony to a US congressional panel...

    He says there are currently has "no plans" to launch a search engine in China - but did not rule out a future launch.

    Mr Pichai, testifying before the House of Representatives Judiciary Committee, said he would be "fully transparent" with policymakers if the company brings search products to China.

    "Right now, there are no plans to launch search in China... "Getting access to information is an important human right, so we always are compelled across the world to try hard to provide that information."

  15. Miners lead FTSE 100 higher

    It's been a volatile couple of weeks, but today it was the buyers who outnumbered the sellers.

    The FTSE 100 ended 1.27% up, driven by mining stocks which benefited from hopes of progress in US-China trade talks.

    Anglo American rose 5.5%, while Glencore and Rio Tinto closed more than 3% ahead.

    Financial stocks had another bad day. Standard Life Aberdeen, down 1.9%, was the FTSE 100's worst performer. Lloyds and Royal Bank of Scotland fell 1% and 0.3% respectively.

  16. Superdry: no longer fashionable with investors

    Shares in fashion chain Superdry took a hit today. The price closed down more than 7% after brokers at Berenberg cut the stock to 'hold' from 'buy'.

    The shares are down almost 70% this year, so investors have certainly fallen out of love with the stock. We'll know more tomorrow, when the company releases its interim results. There was a profit warning in October.

    Superdry shop front
  17. Trump, idiot, Google Images

    Sundar Pichai

    Google chief executive Sundar Pichai is currently being quizzed by the US House Judiciary Committee. Asked about political bias in search results, he says that it can't be done.

    "It is not possible for an individual employee to manipulate our search results," Mr Pichai told Congressman Lamar Smith.

    Congresswoman Zoe Lofgren asked why images of President Donald Trump appear on Google Images when you search for the word "idiot".

    Mr Pichai responded by reiterating how indexing of web content works in Google Search and how an algorithm calculates search results without any intervention.

  18. Pound continues to sink

    Pound coins

    The pound has fallen to a new 20-month low of $1.25 after Sky's political editor reported that MPs have enough letters to trigger a no-confidence vote in prime minister Theresa May's leadership.

    Against the dollar, the pound fell to $1.2501, down nearly 1% from the day's high. Against the euro, the pound weakened 0.1% to 90.55 pence.

    The pound has come under pressure this week after Mrs May cancelled a parliamentary vote on her Brexit agreement and pledged to seek more concessions from EU officials.

    The drop in sterling sent investors scurrying into safe-haven assets with the gilt futures rallying to the day's high while German ten-year bond yields falling.