Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Summary

  1. Bank of England warns of risks around EU referendum
  2. Tata Steel decision for Port Talbot
  3. FBI unlocks iPhone used by terrorist in US
  4. Chinese insurer Anbang ups its offer for the Starwood hotel chain

Live Reporting

By Karen Hoggan

All times stated are UK

Get involved

Good night

And so another Business Live page draws gracefully to a close. Join us again tomorrow from 06:00 for more business news and views.

S&P at 2016 high

Wall Street
Getty Images

It's been a good day on the markets in New York: the S&P 500 has closed at its highest level so far this year, up almost 0.9% at 2,055 points. Investors could well have Janet Yellen to thank. 

Yellen boosts Wall Street

Wall Street closed higher after Federal Reserve chair Janet Yellen said the central bank should proceed "cautiously" on raising interest rates.

The market liked Yellen's "moderate" remarks, said Peter Cardillo, chief market economist at First Standard Financial: "She's basically throwing a little cold water on the said 'hawkishness' that the market was worried about last week."

However, oil futures fell about 2.5% reflecting concern that demand is failing to keep up with swelling global supply, including new output from Kuwait and Saudi Arabia.

The Dow was up 0.56% and the S&P 500 gained 0.89%, while the Nasdaq added 1.67%. 

Tata board meeting update

The Community union tells the BBC that the Tata board meeting in Mumbai has ended and the delegation from Wales is now having a follow-up meeting. "Some news" is expected from the company tonight.

Cracked iPhone: what it means for you

BBC Business tweets

NBC sells $1bn advertising for Rio Olympics

View over Rio
Getty Images

NBC has reportedly already sold $1bn (£695.8m) in advertising for this Summer's Olympics in Brazil.

The network will broadcast the Rio Olympics - and stands to benefit from the fact that some of the most popular events will air live on prime time in the US.  

NBC reckons the Rio Games will notch up the most Olympics advertising sales ever. 

From fine wine to lotteries: Blockchain tech takes off

Nigeria's president refuses to sign budget

BBC World Service reports

BBC World Service

Muhammadu Buhari
REuters

The Nigerian president, Muhammadu Buhari, has refused to sign this year's budget because he doesn't know what's in it. 

An official said parliament, which passed the bill last week, had sent him highlights of the budget but no details. 

The record $30bn budget aims to revive Nigeria's economy which has been hit hard by the slump in oil prices. 

Weaker global growth halts rate rise

More from the BBC's Michelle Fleury on Janet Yellen's speech:

View more on twitter
View more on twitter

Rio venue's 'funding blocked'

BBC World Service Reports

BBC World Service

Just four months before the start of the Rio Olympics, judges in Brazil are reported to have blocked $35m (£24.3m) of funding for the construction of one of the biggest venues. 

The Deodoro complex, in one of the poorest parts of the city, is due to host eleven sports - including kayaking, modern pentathlon, and hockey. 

According to Brazilian media reports, a federal court suspended funding for the site after prosecutors said they'd found evidence of fraud in earthmoving services. 

The two firms involved in building the Deodora facilities haven't commented on the reports. 

FTSE flat but mining shares take a dive

The FTSE 100 was flat on Tuesday - it shed a mere -0.01% to close at 6,105.90.

The top five losers were all mining stocks - pushed down by further falls in the price of commodities. 

The worst performer was Glencore (-4.89%), Anglo American (-04.33%), Rio Tinto (-3.85), BHP Billiton (-3.65%) and Antofagasta (-3.28).

FBI versus Apple

BBC technology correspondent tweets

Instagram to accept 60 second videos

Instagram logo on smart phone
Getty Images

Photo-sharing site Instagram says it's increasing the length of videos that users can upload from 15 seconds to 60 seconds.

Yellen speaks

BBC business presenter Michelle Fleury is at the Economic Club of New York where Federal Reserve chair Janet Yellen is speaking.

View more on twitter

No Port Talbot decision yet

BBC Business presenter tweets

US interest rates: Yellen says Fed should proceed 'cautiously' over rise

US central bank tweets

Virgin America could be bid target

Virgin America plane
Getty Images

Rumours are rife that low-fare airline Virgin America is about to be taken over. 

Bids from two other U.S. airlines - JetBlue Airways and Alaska Air Group - could emerge by the end of the week, according to a Wall Street Journal report.

Another charge in SFO investigation of Alstom Network

Alstom logo
AFP

Another UK employee has been charged as part of the SFO’s ongoing investigation into Alstom Network UK, the Serious Fraud Office, says in a press statement. 

Terence Stuart Watson, the Alstom UK president and the managing director of Alstom Transport UK & Ireland will appear at Westminster Magistrates’ Court on 5 April 2016, on allegations of corruption.

The alleged offences are said to have taken place between 1 January 2003 and 31 December 2008 and concern the supply of trains to the Budapest Metro.

Mr Watson is the seventh person to be charged by the SFO in its investigation of Alstom.

Is the EU referendum reducing job vacancies?

By Anthony Reuben

Reality Check

Nicky Morgan saying: "We've got research showing that the number of vacancies is falling while companies just wait and see what's going to happen on 23 June."
BBC

The claim: The number of job vacancies in the UK is falling because employers are worried about the possibility of the UK leaving the European Union.

Reality Check verdict: False - the report on which this claim is based does not look into the impact of the referendum on vacancies.

Read the full Reality Check here.

Google boss made $100.5m last year

Sundar Pichai, Google CEO
Getty Images

Google boss Sundar Pichai was paid $100.5m (£70.4m) in 2015. 

According to the company's owner, Alphabet, $99.8m of Mr Pichai's compensation came in the form of share awards. 

Nice work if you can get it.