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Live Reporting

Katie Hope

All times stated are UK

  1. Good night

    Test card F

    That's it from us tonight. But don't worry we'll be back first thing tomorrow. Join us from 6am for all the latest news from the world of business.

  2. No sign of Santa Claus

    Santa Claus

    According to the Stock Trader's Almanac, Wall Street has rallied by an average of 1.3% during the last five trading days of December since 1950.

    But there doesn't seem to be much sign of a Santa Claus rally this year.

    Broking firm Bernstein said: "Some investors whom we have spoken to had positioned themselves for a December rally and the path has been painful."

  3. US stocks close lower

    Wall St sign

    That pre-Christmas rally is still nowhere to be seen.

    Wall Street has once again ended lower, with the Dow Jones Industrial Average down 503 points or 2% at 23,596.81.

    The Nasdaq finished off 156.93 points, or 2.27%, at 6,753.73.

    The S&P 500 closed down 2.39% at 2,537.87.

  4. Oil price sinks further

    oil rig

    Oil is also having a bad day. US crude is currently down 3.5% to $49.43 a barrel, whilst Brent crude has dropped 2% to $59.06 a barrel.

    The drop comes amid ongoing fears of oversupply, particularly in the US. Earlier, the US Energy Information Administration said oil production from US shale producers would surpass 8 million barrels a day by the end of the year.

    The country has now overtaken Russia and Saudi Arabia as the world's biggest oil producer.

  5. Economy Energy 'calls in KPMG'

    electricity pylons

    Another small energy supplier - Economy Energy - is reported to be struggling. According to Sky News the firm, which has almost 250,000 customers, has called in KPMG to review its strategic options.

    Since the gas and electricity supply markets were opened up to competition, the industry has attracted dozens of new entrants.

    As of June this year there were 73 suppliers, including 67 smaller operators. Ofgem said 13 new suppliers entered the market in the year to June.

    Of customers switching provider, many have chosen small energy firms over the "big six", who have consistently lost consumers.

  6. Blippar 'appoints administrators'


    Blippar, the British augmented reality business, has appointed administrators, according to the Financial Times.

    The paper says the tech firm's collapse has been driven by an alleged dispute over funding.

    Corporate insolvency firm David Rubin & Partners said earlier that it has been appointed as the firm's administrators.

  7. Wall St slide deepens

    US investors

    Any hopes that US stocks' fortunes would turn around have been dashed. All three indexes have now fallen further.

    The Dow Jones is currently 1.6% lower, the Nasdaq has fallen 1.8% and the S&P 500 is 1.7% down.

    The falls come after DoubleLine's chief executive Jeffrey Gundlach, the market's "bond king," said US equities are in a long-term bear market and that the Federal Reserve should not raise rates this week.

  8. European banks urged to prep for Brexit

    European banks have been urged to prepare themselves and their customers for the risk of an abrupt departure by Britain from the European Union by a key regulator.

    The European Banking Authority said lenders needed to have "effective contingency planning" and tell customers how Brexit would affect them.

    "The EBA is ... calling on all financial institutions affected .... to engage with their customers and provide adequate information on the risks and mitigating measures being taken," the regulator said.

  9. Airbnb denies Israeli reports

    Airbnb has denied the reports in the Israeli press.

    It says they are "inaccurate".

    It has issued a statement: "Airbnb expressed its unequivocal rejection of the BDS movement and communicated its commitment to develop its business in Israel, enabling more tourists from around the world to enjoy the wonders of the country and its people.

    "We are here to meet with a variety of stakeholders and as a result of our meetings have an even deeper understanding that this is an incredibly complex and emotional issue.

    "Airbnb communicated that we are developing the tools needed to implement our policy and that process includes continuing our dialogue with the Government of Israel and other stakeholders.”

  10. AirBnB 'suspends' Israeli boycott

    Airbnb logo

    Airbnb is reported to have suspended its boycott of Israeli settlements, according to local Israeli press.

    The home-sharing website said last month that it planned to remove all homes in Israeli settlements in the occupied West Bank from its listings.

    The firm said it reflected a feeling that "companies should not profit on lands where people have been displaced".

    The West Bank settlements are considered illegal under international law, though Israel disputes this. At the time, it called Airbnb's move "shameful" and threatened legal action.Here's a brief guide to the settlement issue.

  11. Labour to table 'no confidence' vote

    Labour leader Jeremy Corbyn has said he will table a motion of no confidence in the PM for delaying the vote.

    He told the Commons it was unacceptable that MPs would have to wait another month before having their say on Mrs May's deal and the PM had "led the country into a national crisis".

    View more on twitter
  12. France goes it alone

    composite pic

    Just in case you missed this earlier, France has said it will go it alone and introduce its own tax on big technology firms from 1 January after EU-wide efforts stalled.

    French Finance Minister Bruno Le Maire said he expected it to bring in €500m (£450m) in 2019.

    France, along with Germany, had been pushing for the European Commission to agree measures by the end of this year.

    But it is opposed by countries including Ireland, the Czech Republic, Sweden and Finland.

    Read more here

  13. Asos shares plunge 38%

    Asos share price

    And over on junior stock exchange Aim, shares in online fashion retailer Asos have finished the day a whopping 38% lower.

    Just in case you've forgotten why investors are running scared, the firm said this morning that

    The firm said cutting prices to match rivals had not shifted more clothes.

    In fact, economic uncertainty plus weaker consumer confidence had led to "the weakest growth in online clothing sales in recent years," it said.

  14. FTSE 100 closes lower

    Unsurprisingly, the FTSE 100 hasn't managed to shrug off its gloom. It's ended the day 1.1% lower at 6,773.24.

    The FTSE 250 also finished 1.1% lower at 17,469.83.

    Retailers were among the biggest fallers after Asos' gloomy warning about Christmas shopping. Next and Marks and Spencer both lost almost 5%.

  15. Boeing agrees $4.2bn Brazil deal

    A Boeing plane

    Boeing and Embraer have approved the terms of a joint venture that will give the US aircraft maker 80% control over the Brazilian company’s commercial aircraft and services operations.

    Boeing has paid out $4.2bn for the privilege.

    “We are confident that this partnership will deliver great value to Brazil and the Brazilian aerospace industry as a whole,” said Paulo Cesar de Souza e Silva, Embraer president.

    The transaction is subject to approval by the Government of Brazil.

  16. Too early for Easter?

    You might have Christmas on your mind, but some supermarkets have already moved onto Easter.

    Eagle-eyed retail analyst Steve Dresser spotted this display in a Spar.

    View more on twitter
  17. Brexit vote date set

    Theresa May

    MPs will vote on the UK's Brexit deal in the week beginning 14 January, Theresa May has told Parliament.

    The vote was due to be held last week but was put on hold after Theresa May admitted she was set to lose.

    Announcing a new date, Mrs May said the EU had made it clear the Irish backstop was "not a plot to trap the UK" and urged MPs to see Brexit through.

    Labour had threatened to force a confidence vote in the PM if she did not set a date for the vote.

  18. Could US stocks end the year lower?

    US investors

    Could US stocks end the year below where they started off? The Christmas rally many analysts have forecast has so far failed to appear.

    Currently the Dow Jones and S&P 500 are both down 0.5% while the Nasdaq is 0.8% lower.

    "If Santa Claus doesn't turn up very soon, US stocks may end this year in negative territory", Rabobank analysts have warned.

    The Nasdaq is currently the only one of the main indexes in the black for the year, with the Dow and the S&P 500 down between 2 and 3%.