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Summary

  1. EDF decision on Hinkley Point will be made in early May
  2. FBI says it may have found a way into the San Bernardino attacker's iPhone.
  3. Budget has been approved with a govt majority of 35

Live Reporting

By Mantej Deol

All times stated are UK

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  1. Goodnight

    That's all for today.

    We'll be back at 6am bringing you all the business news you need.

  2. Nike Q3 results

    Nike town store

    Nike, the world's largest footwear maker, reported a 7.6% rise in quarterly sales, helped by strong demand for its running and basketball shoes and its sports clothes.

    Net income rose to $950m in the third quarter ended 29 Feb. 29 compared with $791m a year ago.  

  3. Post update

    NYSE inside

    The markets in the US have closed slightly lower, bouncing back from an initial sell off following the attacks at Brussels airport and metro station this morning.

    The Dow Jones fell 41.3 points, or 0.23% to 17,582.57.

    The S&P 500 lost 1.8 points, or 0.09% to 2,049.8 

    And the Nasdaq added 12.79 points, or 0.27% to 4,821.66. 

  4. Insurance premium tax increase approved

    Budget debate

    House of Commons

    Parliament

    Pay packet

    MPs have agreed to increase the lower standard rate insurance premium tax - levelled on the insurance industry who do not pay VAT -  from 9.5% to 10%.

    All votes counted the measure is approved by votes to 307 votes to 62, a majority of 245. 

    The measure will come into effect from today.

  5. Police raid LatAm's biggest engineering firm

    BBC World Service reports

    BBC World Service

    Brazilian police have carried out more than 100 raids at offices of Odebrecht - Latin America's biggest engineering firm - as part of an ongoing corruption investigation at the state-run oil company, Petrobras. 

    Prosecutors have accused the firm - whose former chief executive was jailed earlier this month - of paying bribes to win lucrative multi-billion-dollar contracts from Petrobras.  

  6. Former Intel boss Andrew Grove a 'visionary'

    World Business Report

    Andrew Grove, a former chief executive of Intel, has died aged 79. He propelled Intel into becoming a household name in computers, and he played a key role in the company's shift in focus from memory chips to microprocessors. 

    He said his management philosophy of 'only the paranoid survive' was inspired by living under Nazi occupation in Hungary in his youth. 

    Paul Saffo is a technology forecaster based in Silicon Valley.

    He knew Andrew Grove, and has been talking to Susannah Streeter on World Business Report.

  7. 'Toilet facilities' put women off becoming HGV drivers

    PA reports

    One reason women don't want to become long-distance lorry drivers is because of the "absolutely atrocious" toilet facilities at some rest stops, a transport minister has said. 

    Claire Perry was asked by SNP MP Alan Brown (Kilmarnock and Loudoun) what the Government is doing to tackle the skills gap in the heavy goods industry. 

    Ms Perry said that the industry could attract "non-traditional drivers" if it took action to make sure that people don't have to "go and relieve themselves behind a bush" when they stop. 

    She said: "We had an influx of HGV drivers from other parts of the world, many of whom then returned when the economy turned down, and it has been a real challenge to recruit and to retain drivers. 

    Ms Perry made the comments during a Westminster Hall debate on GPS satellite navigation and heavy goods vehicles. 

  8. BreakingBudget accepted

    Budget debate

    House of Commons

    Parliament

    MPs have voted to approve the Chancellor's 2016 budget by 310 votes to 275, a government majority of 35.

    You can find our full coverage of the measures in the budget here.

    Vote tellers deliver the results of the vote to the Speaker
    Image caption: Vote tellers deliver the results of the vote to the Speaker
  9. No Imagination

    Shares in British chip maker, Imagination Technologies, collapsed after Apple confirmed it had no plans to make an offer at the moment.

    Imagination, which counts Apple among its top shareholders and whose technology is used in Apple devices including the iPhone and iPad, saw its shares jump 21.6% on rumours of a takeover but fell sharply after Apple confirmed there was no offer in the pipeline. 

    Imagination has struggled to reduce its reliance on Apple and last month announced the departure of it's chief executive Hossein Yassaie after 18 years in the job. And there was a profit warning and a restructuring plan. 

  10. EDF decision on Hinkley Point due in 'early May'

    Hinkley point

    The French energy company, EDF, which is due to build the nuclear reactor at Hinkley Point in Somerset, says a final decision on the funding of the project will be made in early May.

    A decision on the £18bn nuclear plant had widely been expected on 30 March.

    It is the latest postponement of a decision by EDF, which is 85% French state-owned, over how it will fund the project.

    More here Link

  11. Labour MP: gloomy forecasts 'preparing the ground' for further cuts

    Budget debate

    House of Commons

    Parliament

    Labour MP Jim Cunnigham calls the Budget a "divisive budget which puts the burden for national debt on the poorest shoulders" - and that's him "being charitable".

    He asks "if [the Chancellor] had a long term economic plan, how did he get blown off course in 48 hours, or did he not know the implications of the cuts on the poorest in our society?"

    The warnings about the unstable state of the global economy from the Chancellor are "preparing the ground work for future cuts", he says.

    It is "not an economic strategy to constantly inflict cuts on the poorest people, and local councils", he adds. 

    Labour MP Jim Cunnigham
  12. FTSE closes higher

    Man at computer screen

    The FTSE 100 recovered from early losses.

    Travel and leisure stocks fell this morning following the explosions in Brussels at its airport and a metro station. 

    Airlines IAG and Easyjet, travel group Tui, cruise operator Carnival and Intercontinental Hotel Group all saw falls in early trading but recovered in the afternoon.

    The FTSE 100 ended the day 8 points higher, to close at 6192.74

    The biggest riser of the day was Johnson Matthey, the speciality chemicals and sustainable technologies company, which ended the day 2.96% up.

    One of the biggest fallers was Barclays, down 2% after investment bank Goldman Sachs cut its price target on the stock, pointing to weaker profits from investment banking and the planned disposal of Barclays Africa.

  13. Drinks tax targets 'just five companies'

    Budget debate

    House of Commons

    Parliament

    Conservative MP Richard Fuller complains that John McDonnell "spent 20 minutes of his speech trying to hold the Chancellor to account for something he's no longer doing" with PIPs, but not holding him to account for "things he has done".

    Mr Fuller says the planned tax on the sugary drinks industry - widely referred to as a "sugar tax" - is in fact "not a sugar tax", as it does not cover sugar in milk or fruit. 

    Instead, he argues the levy is effectively a tax on "just five companies" including Coca-Cola, Britvic and Suntory - who he points out were operating "way before this issue of obesity was a problem".

    "I would say on that point, parliament ought to be very careful about very specific taxes on very specific companies as they will be open to challenge". 

    Conservative MP Richard Fuller
  14. Armani no longer to use fur

    woman protestor

    Italian designer, Giorgio Armani, says he will stop using real fur since "technological progress means there is no longer any justification for cruelty to animals".

    Starting with the collection for the next season the company said there will be no fur in any of the clothes produced by the entire Armani Group, which includes catwalk labels Giorgio Armani and Emporio Armani, AJ Armani Jeans and homeware brand Armani Casa.

    Armani has faced protests outside its shops from the anti fur organisation PETA.