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Live Reporting

By Dearbail Jordan and Simon Read

All times stated are UK

  1. Good night

    Test card

    That's it from Business Live for today.

    But we'll be back bright and early from 06:00 tomorrow.

    Do join us then for all the latest breaking news and analysis.

  2. Wall Street heads for biggest fall since October

    It's not looking too positive on Wall Street where US stocks are heading for their biggest fall since October.

    They've been hit by that downbeat US factory data.

    The Dow Jones is down 0.75% at 27,842.01 while the S&P 500 has lost 0.72% at 3,118.44.

  3. Ted Baker shares slump almost 10%

    Ted Baker sign

    The most notable stock market faller today was Ted Baker.

    It's shares slumped 9.96% to 358.00 after the fashion firm admitted it had overstated its inventory on its balance sheet by up to £25m.

    The company said that the issue related to previous years and would have "no cash impact" on any adjustments made to the value of the inventory, but that didn't convince the market.

  4. FTSE 100 loses 0.82% after Trump tariff tweet

    The FTSE 100 closed at 7,285.94, down 60.59 points or 0.82%.

    The wider FTSE 250 closed at 20,700.21, down 112.39 or 0.54%.

  5. Which car brand is most popular in popular music?

    Mercedes logo

    Surprisingly, perhaps, it's Mercedes-Benz.

    That's according to research from Carwow which studied the lyrics of the top 100 Billboard Hotlist artists of 2018.

    The German brand was mentioned 407 times, far ahead of the 170 mentions for its nearest rival Bentley or the 132 gained by Lamborghini.

    "It’s easy to see why songwriters use cars as shorthand for a luxury life,” said Vix Leyton at Carwow.

    "What's interesting is seeing Mercedes Benz top the list when it's a comparatively affordable and realistically aspirational car in comparison to others.

    "Prestige is not always something you have to be a millionaire to get, and some brands have a heritage worth more than their price tag.”

  6. Brazil steel industry says Trump's new tariff will hit US steelmakers

    A steel maker

    Instituto Aco Brasil, Brazil's main steel industry body, has said it's "perplexed" by Trump's decision to restore tariffs on Brazilian steel and aluminium.

    It called the move "retaliation" and said that the Brazilian government was not artificially devaluing its real currency.

    In a statement, the body said the decision ultimately hurts US steelmakers because they are dependent on Brazilian steel components for their operations.

  7. Regrave and Grey-Thompson 'standouts' for UK coins

    Steve Redgrave

    Which sportspeople would you like to see on UK coins after Switzerland announced Roger Federer will appear on its money?

    Suzanne Lantos writes in with what she calls "two standouts".

    "Steve Redgrave (above) for the incredible feat of winning gold medals in five consecutive Olympic games! Incredible.

    "Tanni Grey-Thompson (below) for a superb collection of medals over the years too."

    Good call.

    Tanni Grey-Thompson
  8. How would candidates save local banking services?

    Cash machine in use.

    The availability of banks and post offices is a concern for many people outside of large towns and cities.

    Consumer group Which? said the UK has lost nearly two-thirds of its bank and building society branches in 30 years, from 20,583 in 1988 to 7,586 today.

    One reader from Norfolk asked the BBC what the parties planned to do about it.

    Here's what we found out

  9. US shares drop on manufacturing data

    Woman manufacturer

    Wall Street has fallen today after data showed the US manufacturing sector contracted for a fourth straight month in November.

    The Institute for Supply Management (ISM) said its index of national factory activity fell to 48.1 from 48.3 the month before. The figures was below expectations.

    The Dow Jones Industrial Average is down 137.67 points, or 0.49%, at 27,913.74.

    The S&P 500 has fallen 21.99 points, or 0.70%, at 3,118.99.

    The Nasdaq Composite is down 107.4 points, or 1.24%, at 8,557.99.

  10. Amazon accuses union of 'conjuring misinformation'

    protest
    Image caption: Protest outside Amazon London headquarters today

    Earlier we reported an interview with Kate Gorton, GMB union regional organiser for the West Midlands, where she said that timed toilet breaks and staff not being allowed to leave the floor without permission are among complaints she hears.

    Amazon has responded: “Self-interested critics have a vested interest in spreading misinformation about Amazon but the facts tell a different story.

    "The truth is that Amazon already offers industry-leading pay, comprehensive benefits, as well as a safe, modern work environment.

    "These groups are conjuring misinformation to work in their favour, when in fact we already offer the things they claim to be fighting for.

    "You don’t have to take our word for it – or theirs. Come and see for yourself by registering for a tour at one of our fulfilment centres.”

  11. FTSE falls 0.5% after Trump's tweets

    FTSE chart

    Our FTSE 100 chart (above) reveals almost the exact moment that Trump tweeted about the new tariffs on Brazil and Argentina.

    The slide after 11am followed Trump's 10.59am timed social media message.

    The FTSE 100 has now dropped 0.54% on the day to 7,307.04, but is more than 90 points down on its highest point today.

  12. Federer's in the money

    Roger Federer

    Swiss tennis player Roger Federer will become the first living person to be celebrated on a coin in the country.

    The Federal Mint, Swissmint, will release a 20 Swiss francs silver commemorative coin in January.

    It plans to add a Federer SFr50 gold coin in May.

    "Thank you Switzerland and Swissmint for this incredible honour and privilege," said the 38-year-old world number three, who has won 20 Grand Slams.

    Are there any living British athletes you'd like to see on UK coins? Do let us know at bizlivepage@bbc.co.uk

  13. Wall Street opens flat

    Wall Street

    Trump's new tariffs haven't dented US markets with Wall Street opening largely flat today.

    The Dow Jones Industrial Average rose 58.33 points, or 0.21%, at the open to 28,109.74.

    The S&P 500 opened higher by 2.87 points, or 0.09%, at 3,143.85.

    The Nasdaq Composite gained 7.37 points, also 0.09%, to 8,672.85 at the opening bell.

  14. UK motorists begin mass claim over VW emissions scandal

    VW cars

    The UK's first major mass litigation has begun, with about 100,000 motorists seeking redress from Volkswagen over the "dieselgate" emissions scandal.

    Lawyers representing owners of VW, Audi, Seat and Skoda cars told the High Court the German firm misled consumers.

    In 2015, VW admitted 11 million cars worldwide - including 1.2 million in the UK - were fitted with software that cut emissions readings in tests.

    But it denies deceiving regulators, despite rulings against it elsewhere.

    And it says that, whatever the merits of the case, the UK drivers seeking compensation faced no losses.

    Read more

  15. Brazilian president to plead with Trump

    Jair Bolsonaro
    Image caption: Jair Bolsonaro

    The Brazilian President Jair Bolsonaro has responded to Trump's imposition of fresh tariffs on steel and aluminium imports from the South American country.

    "Their economy is not comparable with ours, it's many times bigger. I don't see this as retaliation," Bolsonaro said in a radio interview with Brazil's Radio Itatiaia.

    "I'm going to call him so that he doesn't penalize us ... Our economy basically comes from commodities, it's what we've got.

    "I hope that he understands and that he doesn't penalize us with this, and I'm almost certain he'll listen to us," he said.

  16. FTSE falls on new Trump tariffs

    Trump speaking

    Those new Trump steel tariffs for Argentina and Brazil have sent stock markets tumbling.

    The FTSE 100 which edged close to 7,400 in early morning trading has fallen more than 75 points since then to 7,322.38, leaving it down 0.33% on the day.

    The wider FTSE 250 is down 0.74% at 20,658.28.

  17. 'We want the freedom to join a union'

    protest
    Image caption: Kate Gorton, left, says access to Amazon sites to meet with members would be helpful.

    Kate Gorton, regional organiser for the West Midlands, where Amazon has sites in Coventry and Rugeley, says access to Amazon sites to meet with members would be helpful. Presently, they can only got to the sites when there is a grievance and disciplinary meeting.

    “We would like recognition,” she says, “and the freedom for workers to join a trade union, any union."

    She says timed toilet breaks and staff not being allowed to leave the floor without permission, for instance to take medication are among complaints she hears. Last year, the union found there were 115 ambulance call-outs to the firm's Rugeley site in the prior three years.

  18. Union reps gather to protest Amazon

    GMB protest

    Organisers and officers of the GMB gathered outside Amazon's headquarters today to protest the firm's UK tax bill.

    Amazon insists that it has invested £18bn in the UK since 2010 while employing 29,500 people, paying £220m in "direct taxes", although that includes business rates, corporation tax, employer’s national insurance and stamp duty.

    The firm's Amazon UK Services business, which employs about two thirds of its workers, paid £11m corporation tax for 2018, up from £1.7m for a year earlier on £2.35bn sales and £74m profit.

    Amazon doesn't recognise GMB and organisers said they would like the company to become more union friendly.

  19. Ted Baker share price at 10-year low

    Ted Baker bag

    Ted Baker's share price is at its lowest point for more than 10 years after it said it had overstated the inventory on its balance sheet by between £20m and £25m.

    Its shares have regained some ground since a sharp fall this morning but, at 363.82p, the price is down 8.5% and is at the lowest since May 2009.

  20. China miner offers $1bn for Canadian gold firm

    Site of Continental's Columbian gold mining project
    Image caption: Site of Continental's Columbian gold mining project

    Zijin Mining, one of China's biggest mining companies, has made a $1bn (£770m) cash offer for Canada's Continental Gold.

    It said the deal would increase its gold reserves and boost production.

    “The completion of the acquisition can raise the company’s gold resources reserve volume to over 2 thousand tonnes and increase the production volume of mine-produced gold by approximately 20%,” Zijin said in a statement.

    It has offered C$5.50 a share in cash, a premium to Friday’s close price of C$4.87. Newmont Mining, which holds a fifth of Continental, said it will back the deal.

    Continental has extensive gold mining operations in Columbia.