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Live Reporting

By Tom Espiner and Nell Mackenzie

All times stated are UK

  1. Good night

    Have a lovely weekend.

    That's all from the Business Live page for today.

    Please join us again on Monday from 06:00.

  2. Stocks closed up with the pound largely flat

    The pound at 4:30pm had fallen 0.38% to 1.3026 compared to the previous close.

    The FTSE 100 rose +0.85% to 7674.56 while the FTSE 250 lifted +0.76% to 21886.08

  3. Maldives minister makes plea for financing to combat climate change

    Aerial view of the Maldives
    Image caption: Aerial view of the Maldives

    A foreign minister from the Maldives says the tropical islands must have access to cheap financing to help fight climate change or entire islands might go under, Reuters reports.

    The Maldives have struggled for money to build critical infrastructure like sea-walls.

    “For small states, it is not easy,” Foreign Minister Abdulla Shahid told Reuters in New Delhi. “By the time the financing is obtained, we may be underwater.”

  4. US housing numbers build to a 13 year high

    new homes being built

    The rate of new home construction rose to its highest level since 2006, according to US Census Bureau figures released today.

    Numbers were helped by a drop in the 30-year mortgage rate to its lowest level in three years.

  5. German foreign ministry apologises for off-colour Tweet

    tweet that sparked offence

    The German foreign ministry has backtracked after a joke gone wrong on Twitter, Reuters reports.

    In attempting to take advantage of a trending hashtag #SeduceSomeoneinFourWords, the government department sparked a social media row and had to issue an apology.

  6. Owners rush to register fire-risk washing machines

    Mark Fielder

    Thousands more owners of dangerous Hotpoint and Indesit washing machines have demanded a resolution from manufacturer Whirlpool.

    The US firm launched a huge recall of UK machines last week, and some 76,000 customers are now awaiting action.

    But that still leaves 443,000 machines which need to be located and either repaired or replaced.

    A full month after Whirlpool owned up to the problem, only 7,000 households have had either a new one delivered or an engineer visit to make a repair.

  7. Stolen Klimt painting verified as original

    portrait of a lady

    A painting found in an Italian wall five weeks ago has been confirmed as an original Gustav Klimt, reports the AFP.

    "It is with great emotion that I can tell you that the painting found is authentic," said Ornella Chicca, head of an investigation to verify the painting.

    The painting titled, "Portrait of a Lady" was stolen in February 1997 and found in December by gardeners clearing ivy from the museum's outer walls.

    Wall where painting was found
    Image caption: The painting was found in this wall
  8. China has beef with Russia

    woman at beef market

    After years of negotiations, China has certified two Russian pork and beef companies for deliveries starting this week, reports Reuters.

    China stopped importing pork from Africa after an outbreak of African Swine Fever - harmless to humans but highly contagious and deadly in pigs.

    Its spread in China has caused the country to rely on more imports.

  9. Most Britons live month-to-month

    collection of £20 notes

    Figures released today from Fastpaye, a financial app, reveal how anxious Britons become about pay day.

    Almost half of the UK workforce, 46%, feel stressed out in the week leading up to pay day.

    In London, the feeling is particularly acute with 57% of people very anxious before their salary hits their bank account.

    The study says much of this is down to how 78% of employees that were surveyed say they fail to cover unexpected costs.

  10. Travelex boss breaks silence after cyber attack

    Tony D'Souza
    Image caption: Tony D'Souza said it was "not appropriate" to discuss details of the attack.

    The boss of Travelex has broken his silence about a cyber attack that forced its staff to use pen and paper and halted travel money sales at some banks and supermarkets.

    The firm has released a number of short statements since cyber criminals held the firm to ransom on 31 December.

    However, other systems remain offline.

    In a scripted video that was uploaded to a backup Travelex website, Mr D'Souza said the company had taken its systems down after the cyber attack on New Year's Eve.

  11. No automatic deportation for EU citizens, says No 10

    UK border control

    So far more than 2.7 million EU citizens have applied for settled status after Brexit in the UK.

  12. Big Ben Brexit fundraiser given £50,000

    Queen Elizabeth Tower

    Another donation of £50,000 has gone to a campaign to make Big Ben ring when the UK leaves the EU.

    An online appeal has raised more than £200,000, with the cost of making the famous bell work in time for the one-off event estimated to be £500,000.

    Big Ben is being renovated, but the PM this week suggested a fund be set up to make it chime at 23:00 on 31 January.

  13. CEO of Grammy organisation leaves under a cloud

    Grammy trophies
    Image caption: Grammy trophies

    The Recording Academy, the company which hands out the Grammy music awards has put its chief executive on leave over an allegation of misconduct, the Wall Street Journal reports.

    Deborah Dugan, had held the job since August, following public remarks by her predecessor that were widely interpreted as sexist.

    The nature of the misconduct was not made public, but the organisation said late Thursday that Ms Dugan's leave would take immediate effect.

  14. UK stocks also enjoy a Friday peak sentiment

    picture of UK stocks

    The FTSE 100 and FTSE 250 both rose in Friday afternoon trading. Stocks have a way to go before they catch the five year high of 7,778.79 reached in May 2018 but the numbers have continued to climb.

    • The FTSE 100 gained 0.97% to 7,683.87
    • The FTSE 250 moved up 0.67% to 2,1865.82

    The pound had risen 0.11% against the euro to €1.1754 but not against the dollar, falling slightly 0.24% to $1.3046.

  15. Dow Jones, S&P, Nasdaq continue near peaks

    traders on the NYSE look up

    In US markets, stocks also continued their ascent:

    • The Dow Jones industrial average was up 0.05%, at the open to 29,313.31
    • The S&P 500 had risen to 0.21%, to 3,323.66
    • The Nasdaq climbed 0.38%, to 9,392.37 at the opening bell
  16. US dollar index hits new highs

    The dollar index, a measure of the US dollar compared to a basket of foreign currencies, rose to a session high of 97.55.

    Experts say the US currency is still feeling the glow after the US China trade deal.

  17. US traffic regulator may investigate Tesla

    The wheel of a Tesla

    The National Highway Traffic Safety Administration will review a petition asking for an investigation over Tesla cars that unexpectedly accelerate, Reuters reports.

    The petition covers 500,000 models that were sold between 2012-2019 which include the Model S, the Model 3 and the Model X.

  18. Travelex 'in advanced testing of banknote systems' after attack

    travelex sign

    Foreign exchange firm Travelex says it is testing systems supporting bank note orders to High Street banks again.Banks that use Travelex to run their foreign exchange services have been unable to sell travel money since a massive cyber-attack two weeks ago.

    That has affected banks like Barclays, Lloyds and RBS, which use Travelex to provide their travel money services.

    The company says it hopes to restore its UK money transfer service by the end of January.

  19. Some Travelex staff systems 'back up and running'

    Travelex sign

    Travelex has put out an update saying some of its staff systems are back up and running after a massive cyber-attack.

    Hackers held Travelex to ransom, demanding the firm pay $6m (£4.6m) before they unlock its systems.

    That has affected banks like Barclays, Lloyds and RBS, which use Travelex to provide their travel money services.