Theresa May has been given 10 days to offer further concessions on issues
including the Brexit divorce bill and the complex matter of the Irish
border if she wants European Union leaders to agree to trade talks.
"We need to see progress from UK within 10 days on all issues, including on
Ireland," European Council president Donald Tusk
said after talks in Brussels.
The prime minister hopes a crunch summit in the Belgian capital next month will give the
green light to move on to the next stage of the Brexit process, covering future
trading arrangements and a possible implementation period to avoid a cliff-edge
for businesses.
It seems Uber is still pushing on with a deal to bring in Japanese technology company SoftBank as a major investor by disclosing the pricing early next week in formal tender offers to the ride-hailing app's investors, Reuters reports.
The start of the tender comes despite Uber's disclosure on Tuesday that it covered up a 2016 breach that compromised data of some 57 million customers and drivers.
The sources quoted by Reuters did not say how much investors would be offered for the shares, or if the price had been cut in the wake of the data breach.
GMB on Uber
More on Uber. Maria Ludkin, legal director of the GMB union, which took the original tribunal case, comments:
Quote Message: We welcome this opportunity for this point of law to be finally adjudicated by the highest court in the land. GMB is confident that the original judgment will be upheld by what is effectively the highest legal authority in the UK."
We welcome this opportunity for this point of law to be finally adjudicated by the highest court in the land. GMB is confident that the original judgment will be upheld by what is effectively the highest legal authority in the UK."
Uber hails a ride to Supreme Court
Getty ImagesCopyright: Getty Images
Uber plans to take its fight over the employment status of its UK drivers to the Supreme Court.
Shares in Ten Lifestyle Group - the concierge for the world's wealthy - began conditional trading on London's AIM market today.
The company, which organises, travel dining and entertainment for its affluent customers, raised £25.6m ahead of the flotation. Based on its placement price, the firm will have a market cap of almost £105m.
Co-founder and chief executive Alex Cheatle said Ten will use the funds to help expand the business.
"We already have 20 offices around the world and the traction our business model and technology platform has generated in our target expansion markets will now be supported by significant investment," he said.
Why Bernie would vote for Vladimir...
Murad Ahmed, the Financial Times leisure correspondent (what a job eh?!) has had a nice lunch with former F1 owner Bernie Ecclestone.
Well, he's definitely had lunch with him - we can be sure of that much...
Wall Street closed higher in a shortened trading session on Friday, led by technology stocks, with Amazon and retail shares getting a boost on signs of a strong start to the US holiday shopping season.
The Dow Jones rose 31.8 points, or 0.15%, to 23,557.9, the S&P 500 gained 5.3 points, or 0.2%, to 2,602.4, while the tech-heavy Nasdaq added 21.8 points, or 0.3%, to 6,889.1 points.
Sterling stirs
Chris Johnston
Business reporter, BBC News
Getty ImagesCopyright: Getty Images
Sterling gained ground on Friday amid dollar weakness and growing signs of an end to the political deadlock in Germany.
"That is taken as positive by sterling traders as a more fruitful outcome at the EU summit next month is expected - but these moves are taking place in very thin markets," said Manuel Oliveri at Credit Agricole.
In a week shortened by holidays in the US and Japan, the pound rose 0.2% to $1.3310.
The dollar hit a five-week low against a basket of currencies, with trade thinned this week due to Thanksgiving on Thursday and a national holiday in Japan.
Amazon customers in Germany could have to wait for up to a week to receive their Black Friday buys, as over 2,000 employees at six distribution centres in the country went on strike today, as part of a long-running row over pay and conditions.
"Orders placed by Prime customers today will not be delivered before next
week," services sector union Verdi said, vowing to continue the industrial
action on Saturday.
In Berlin, several hundred demonstrators took to the streets against the US
online giant, carrying signs that read "Block Black Friday" and "Make Amazon
pay - we are more than robots or data".
Over 500 employees also went on strike at Piazcenza, Amazon's main Italian hub.
London markets close on a low
Getty ImagesCopyright: Getty Images
The FTSE 100 has closed slightly lower at 7,409.64 points - down 7.8 points or 0.1%.
One of the biggest fallers was housebuilder Persimmon, which fell 3.6% to trade at £25.56.
British Transport Police said officers were at the scene and warned people to avoid the area, in London's West End.
"Oxford Circus Station is closed while we investigate a customer incident," Transport for London said.
BBC reporter Helen Bushby said she had seen a "mass stampede" of people running away from the station, with some people "screaming and crying".
'Not sustainable'
Chris Johnston
Business reporter, BBC News
EPACopyright: EPA
Black Friday may be good news of sorts for consumers, but that is not the case for retailers, according to Paul Martin, UK head of retail at KPMG:
He says Black Friday does not increase sales for retailers over the Christmas trading period - rather it brings retail spending forward: "What’s more, it forces retailers to sell their goods at discounted prices earlier and for longer. Clearly, this is not sustainable."
Mr Martin adds: “As retailers scream about their Black Friday success, it is worth factoring in the growing cost of fulfilment, the ever-increasing trend of returns, and of course the knock-on impact of having sales this early on in the golden quarter. Winning retailers will be those who have strategically planned their discounts far in advance, and those that can manage the surge of sales activity with the upmost efficiency.”
John Lewis traffic and spending up
Getty ImagesCopyright: Getty Images
UK retailer John Lewis says that its busiest ever hour of online trading was between 09:00-10:00 GMT.
However its mobile app was the popular way for consumers to shop, with traffic peaking between 13:00-14:00 GMT, up 92.3% year-on-year.
The top most searched-for terms were "iPad" and "Sonos", and unsurprisingly the latest Apple MacBook Air and the Sonos Play:1 Smart Speaker were the biggest sellers in terms of value and units respectively.
Live Reporting
Mary-Ann Russon and Chris Johnston
All times stated are UK
Get involved
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Latest PostGood night!
That's all from Business Live for today - and this week. Thanks for reading.
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Tech Tent: Tencent and electric bikes
Rory Cellan-Jones
Technology correspondent
It is a tech giant unfamiliar to many in the West, but Tencent could soon be more powerful than Facebook
Tech Tent: Tencent and electric bikes
It is a tech giant unfamiliar to many in the West, but Tencent could soon be more powerful than Facebook
Read more10 days for Brexit divorce bill
Theresa May has been given 10 days to offer further concessions on issues including the Brexit divorce bill and the complex matter of the Irish border if she wants European Union leaders to agree to trade talks.
"We need to see progress from UK within 10 days on all issues, including on Ireland," European Council president Donald Tusk said after talks in Brussels.
The prime minister hopes a crunch summit in the Belgian capital next month will give the green light to move on to the next stage of the Brexit process, covering future trading arrangements and a possible implementation period to avoid a cliff-edge for businesses.
She insisted that there had been a "very positive atmosphere" in talks on Friday.
Has Steph got news for you!
Quick - tune to BBC1!
Not going Soft
It seems Uber is still pushing on with a deal to bring in Japanese technology company SoftBank as a major investor by disclosing the pricing early next week in formal tender offers to the ride-hailing app's investors, Reuters reports.
The start of the tender comes despite Uber's disclosure on Tuesday that it covered up a 2016 breach that compromised data of some 57 million customers and drivers.
The sources quoted by Reuters did not say how much investors would be offered for the shares, or if the price had been cut in the wake of the data breach.
GMB on Uber
More on Uber. Maria Ludkin, legal director of the GMB union, which took the original tribunal case, comments:
Uber hails a ride to Supreme Court
Uber plans to take its fight over the employment status of its UK drivers to the Supreme Court.
Earlier this month the Employment Appeal Tribunal rejected the ride-hailing firm's argument about the status of employees.
Unions argue that staff should be classified as "workers" rather than being self-employed.
Such a move would entitle them to rights such as holiday pay and sick leave.
More here.
LIfestyles of the rich and famous...
Shares in Ten Lifestyle Group - the concierge for the world's wealthy - began conditional trading on London's AIM market today.
The company, which organises, travel dining and entertainment for its affluent customers, raised £25.6m ahead of the flotation. Based on its placement price, the firm will have a market cap of almost £105m.
Co-founder and chief executive Alex Cheatle said Ten will use the funds to help expand the business.
"We already have 20 offices around the world and the traction our business model and technology platform has generated in our target expansion markets will now be supported by significant investment," he said.
Why Bernie would vote for Vladimir...
Murad Ahmed, the Financial Times leisure correspondent (what a job eh?!) has had a nice lunch with former F1 owner Bernie Ecclestone.
Well, he's definitely had lunch with him - we can be sure of that much...
SFO under fire
Andy Verity
BBC Economics correspondent
The Serious Fraud Office has been criticised by the Court of Appeal for appointing an expert witness who "lacked expertise".
Lord Justice Gross warned SFO prosecutors that the court's judges regarded the SFO's use of Saul Haydon Rowe as "a debacle".
He appeared in the trials of former traders for allegedly rigging the Libor rate.
Read more here.
We're going to need more zeroes...
It's a very happy holiday for Amazon founder Jeff Bezos. It seems he's now worth an astonishing $100bn, according to Bloomberg.
Wall Street gains
Wall Street closed higher in a shortened trading session on Friday, led by technology stocks, with Amazon and retail shares getting a boost on signs of a strong start to the US holiday shopping season.
The Dow Jones rose 31.8 points, or 0.15%, to 23,557.9, the S&P 500 gained 5.3 points, or 0.2%, to 2,602.4, while the tech-heavy Nasdaq added 21.8 points, or 0.3%, to 6,889.1 points.
Sterling stirs
Chris Johnston
Business reporter, BBC News
Sterling gained ground on Friday amid dollar weakness and growing signs of an end to the political deadlock in Germany.
"That is taken as positive by sterling traders as a more fruitful outcome at the EU summit next month is expected - but these moves are taking place in very thin markets," said Manuel Oliveri at Credit Agricole.
In a week shortened by holidays in the US and Japan, the pound rose 0.2% to $1.3310.
The dollar hit a five-week low against a basket of currencies, with trade thinned this week due to Thanksgiving on Thursday and a national holiday in Japan.
Beware net-connected Christmas gadgets
Net-connected toys and gadgets bought as Christmas gifts could put the privacy and safety of children at risk, warns the UK's data regulator.
Many toys have poor security, easy to guess passwords and cannot be updated to fix bugs, said deputy information commissioner Steve Wood.
Some are so poorly protected that they could be used by hackers as a route into a home network, he said.
He urged parents to take care when buying the smart devices.
Sports Direct under fire
Sports Direct shareholders have criticised the retailer's decision to ask investors to approve an £11m payment to the brother of founder Mike Ashley.
Royal London Asset Management said the retailer had given "no evidence or detail explaining why" the sum was owed to John Ashley.
It would vote against the payment as it was a "consequence of poor governance".
Read more here.
Black Friday delays in Germany
Amazon customers in Germany could have to wait for up to a week to receive their Black Friday buys, as over 2,000 employees at six distribution centres in the country went on strike today, as part of a long-running row over pay and conditions.
"Orders placed by Prime customers today will not be delivered before next week," services sector union Verdi said, vowing to continue the industrial action on Saturday.
In Berlin, several hundred demonstrators took to the streets against the US online giant, carrying signs that read "Block Black Friday" and "Make Amazon pay - we are more than robots or data".
Over 500 employees also went on strike at Piazcenza, Amazon's main Italian hub.
London markets close on a low
The FTSE 100 has closed slightly lower at 7,409.64 points - down 7.8 points or 0.1%.
One of the biggest fallers was housebuilder Persimmon, which fell 3.6% to trade at £25.56.
Meanwhile, the FTSE 250 fell 0.3% to 19,944.79.
The top loser of the FTSE 250 index was Telecom Plus, which was down 4% to £11.86.
BreakingPolice alert at Oxford Circus Tube
Police are responding to reports of an incident at London's Oxford Circus Tube station.
British Transport Police said officers were at the scene and warned people to avoid the area, in London's West End.
"Oxford Circus Station is closed while we investigate a customer incident," Transport for London said.
BBC reporter Helen Bushby said she had seen a "mass stampede" of people running away from the station, with some people "screaming and crying".
'Not sustainable'
Chris Johnston
Business reporter, BBC News
Black Friday may be good news of sorts for consumers, but that is not the case for retailers, according to Paul Martin, UK head of retail at KPMG:
He says Black Friday does not increase sales for retailers over the Christmas trading period - rather it brings retail spending forward: "What’s more, it forces retailers to sell their goods at discounted prices earlier and for longer. Clearly, this is not sustainable."
KPMG's analysis of the UK’s top 10 retailers shows that retail sales revenue has stagnated and profit margins have been squeezed in recent years.
Mr Martin adds: “As retailers scream about their Black Friday success, it is worth factoring in the growing cost of fulfilment, the ever-increasing trend of returns, and of course the knock-on impact of having sales this early on in the golden quarter. Winning retailers will be those who have strategically planned their discounts far in advance, and those that can manage the surge of sales activity with the upmost efficiency.”
John Lewis traffic and spending up
UK retailer John Lewis says that its busiest ever hour of online trading was between 09:00-10:00 GMT.
However its mobile app was the popular way for consumers to shop, with traffic peaking between 13:00-14:00 GMT, up 92.3% year-on-year.
The top most searched-for terms were "iPad" and "Sonos", and unsurprisingly the latest Apple MacBook Air and the Sonos Play:1 Smart Speaker were the biggest sellers in terms of value and units respectively.