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Summary

  1. Argentina reaches debt deal with hedge funds
  2. Trinity Mirror launches daily newspaper New Day
  3. India promises to double farmers' incomes
  4. Morrisons shares higher after Amazon deal, Ocado shares drop
  5. China expects to lay off 1.8 million workers in coal and steel

Live Reporting

By Ben Morris

All times stated are UK

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  1. Good night from London

    That's it from the Business live page today. We're back from 06:00 on Tuesday. We've got Barclays results to get us going first thing, so do drop in.

  2. US shares slide towards close

    Dow Industrials

    Losses for US shares accelerated towards the close.

    The Dow Industrials closed 0.7% lower at 16,516, the Nasdaq also lost 0.7% and the S&P 500 finished 0.8% lower.

    Analysts say that some investors are cashing-in.

    Quote Message: There's been some profit-taking as we had a good two-week run. Selling has brought more selling as a lot of traders are really poised to take profits at any fundamental pullback." from Michael James Managing director, equity trading, Wedbush Securities
    Michael JamesManaging director, equity trading, Wedbush Securities
  3. Google car in bus bash

    Anyone who has driven in a big city might feel some sympathy towards Google's self-driving car which biffed the side of a bus.

    "The Google AV [autonomous vehicle] test driver saw the bus approaching in the left side mirror but believed the bus would stop or slow to allow the Google AV to continue," the crash report said.

    "Approximately three seconds later, as the Google AV was re-entering the centre of the lane it made contact with the side of the bus."

    It was a low speed affair, the bus was travelling at 15 mph and the Google car at 2 mph.

    More here from BBC North America technology reporter, Dave Lee.

  4. Valeant shares plunge

    Investors are dumping shares in US-based Valeant Pharmaceuticals.

    Bloomberg reported that the company is under investigation by the Securities and Exchange Commission and that appears to have prompted the latest downturn.

    Shares were already down around 8% after the company posted disappointing results (see earlier post).

  5. Oscar ratings hit eight-year low

    Host Chris Rock celebrates onstage during the 88th Annual Academy Awards

    The Oscars had one of its lowest audience ratings in recent years, with 34.3 million Americans tuning into the ABC broadcast on Sunday.

    It's the lowest figure since 2008, when Jon Stewart hosted the awards and No Country For Old Men won best picture.

    This year's ceremony had been boycotted by some Hollywood figures protesting about the lack of ethnic diversity among this year's nominees, as all 20 nominees in the best acting or supporting acting categories were white. 

  6. New York salt warning delayed

    Sodium warning signs are seen next to a dish (shown as black triangle icon) on the menu at an Applebee's

    An appeals court has temporarily stopped New York City from enforcing a rule that requires chain restaurants to warn customers about high salt levels in dishes.

    From tomorrow, any firms not observing the rule would have been hit by fines.

    The National Restaurant Association argues that the rule is "arbitrary and capricious" and "filled with irrational exclusions and nonsensical loopholes".

    It also argues that the City is operating beyond its authority in this case.

  7. Dow heads lower

    Dow Industrials

    US shares have turned lower. The Dow Industrials have given up early gains to trade 0.1% lower.

    Pfizer, Home Depot and JP Morgan Chase are all down around 1%.

  8. Argentina deal: 'A lot of work to be done'

    Daniel Gallas

    BBC South America business correspondent

    It took the government of President Mauricio Macri almost three months to get creditors to accept Argentina’s offer after 15 years of dispute.

    But there is still a lot of work to be done.

    After winning over the hedge funds and US judge Thomas Griesa - which was instrumental in today’s announcement - Mr Macri must now convince his own Congress that this is a good deal for the country.

    The previous administration of Cristina Fernandez de Kirchner had approved a “lock law” which forbids Argentina from paying out hedge funds in the terms that were negotiated today.

    If Mr Macri is to deliver on his promise to get Argentina borrowing internationally again, he must get politicians to repeal that law.

  9. Warren Buffett's La La Land

    Warren Buffett

    Warren Buffett, or The Sage of Omaha as he's often referred to, issued his annual letter to Berkshire Hathaway shareholders on Saturday. 

    In it he explained why it has decided for the first time ever to stream the investment firm's annual shareholder meeting on 30 April.

    Mainly, he said the move will enable investors, where ever they are based, to watch the meeting. But he said it will also allow shareholders to make sure that 85-year-old Mr Buffett  and his 92-year-old vice chairman, alongside the firm's other top execs, haven't "drifted off into la-la land".

  10. Google's self-driving car hits a bus

    Google car

    A self-driving car being tested by Google collided with a public bus on the 14th February, according to an accident report it filed with California's Department of Motor Vehicles.

    No one was injured. 

    Google, which has been testing the vehicles near its Silicon Valley headquarters, said in January that it had had to intervene to stop its self-driving cars from crashing on California's roads 13 times between September 2014 and November 2015.  

  11. Scottish housing boom?

    Scottish housing

    A move by Scottish ministers to accelerate house building in Scotland may not be plain sailing, the BBC's Scottish business editor warns. 

  12. Crude oil prices march higher

    Crude oil prices

    Oil prices have been powering higher over the last few hours.

    Brent Crude is up $1.17 a barrel, or 3.3%, at $36.61.

    Traders are attributing the gains to moves made by China to boost bank lending.

    The hope is that efforts to spur the Chinese economy, will lift demand for oil which has been flagging.

    That flagging demand, together with oversupply, has been partly behind a 70% decline in oil prices since mid-2014.

    Quote Message: Credit expansion is not a long term solution to China's growth slowdown but would likely support growth this year -- and remove some of the concern that has been driving oil prices lower." from Jasper Lawler CMC Markets analyst
    Jasper LawlerCMC Markets analyst
  13. Taser shares jump

    taser gun

    Shares in stun-gun maker, Taser International have jumped 11.6%.

    That's after it reported better than expected quarterly sales and profits.

    It reported a profit of $5m for the quarter, up slightly on the same quarter of 2014, and sales of $56m, up 22%.

  14. Exxon Mobil launches massive bond sale

    Exxon Mobil petrol station

    Exxon Mobil has a giant bond sale underway.

    It's expected to raise up to $9bn from bond sales that will have repayment periods from two to 30 years.

    The proceeds will fund "general purposes".

    The corporate bond offering comes less than a month after the oil giant reported a 50% slump in annual profits to $16.2bn.

  15. FTSE edges higher

    After spending most of the session underwater the FTSE 100 index broke the surface to close narrowly higher on Monday.

    The index added just one point to close at 6,097.

    Mining shares were the biggest winners, with Anglo American adding 6% and Glencore closing almost 4% higher.

  16. US shares move higher

    The Dow Industrials have pushed into positive territory, helped by gains for American Express and Caterpillar.

    The Dow is trading 0.2% higher at 16,671.