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Summary

  1. Prime Minister says nationalising the steel industry is not the answer
  2. Landlords scramble to beat stamp duty hike
  3. GSK to waive patents in poor countries

Live Reporting

By Karen Hoggan

All times stated are UK

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  1. Goodnight

    That's it from another packed day on the Business Live page.

    Tomorrow we'll have more on the new National Living Wage which comes into effect in the UK and tech giant Apple's 40th birthday.

    Join us for that and more...

  2. Two states move closer to $15 minimum wage?

    A sheet of freshly printed one dollar bills

    New York state has reached a "tentative deal" to raise the minimum wage towards $15 (£10.44) an hour, Reuters reports, but the agreement doesn't go as far as a uniform state-wide increase.  

    The agency also says a plan to raise California's minimum wage to $15 an hour by 2022 cleared its toughest legislative hurdle on Thursday, "putting the state on track to become the first in the nation to commit to such a large pay hike for the working poor".

    On Friday, of course, the new National Living Wage comes into effect in the UK, and we'll be bringing you more on that here on the Business Live page.

  3. Wall street closes flat

    Wall Street sign

    Wall Street has just closed - and the boost shares enjoyed earlier in the week has plateaued somewhat.

    The Dow Jones industrial average fell 0.18% to 17,685.09 points, and the S&P 500 fell 0.20%% to 2,059.74 points.  

    The Nasdaq Composite rose 0.01% to 4,869.85.

    On Friday, the US employment report will give more insight into what's going on in the world's biggest economy, so there may well be some market reaction to that.

  4. GE Capital want to shed 'too big to fail' tag

    Close up of GE logo

    General Electric's financing arm - GE Capital- has asked regulators to remove it from the list of institutions deemed "too big to fail" after having shrunk the size of its business.

    GE said it no longer posed "any conceivable threat to US financial stability".

    US regulators labelled GE Capital a systemically important financial institution (SIFI) in 2013.

    SIFIs fall under stricter regulations to protect the financial system.

  5. China set to become McDonald's second biggest market

    Close up of burger and chips

    McDonald's is to open more than 1,000 restaurants in China over the next five years, making it the chain's second-largest market after the US, Reuters reports. 

    The company says it will open 250 outlets a year in China, where it currently has more than 2,200 outlets - part of a strategy to focus on high-growth markets to boost sales. 

    McDonald's said it would add another 250 outlets in Hong Kong and South Korea over the same period and was seeking franchise partners in the all three markets, where it now has more than 2,800 restaurants. 

  6. Jay Cockburn

    Newsbeat reporter

    George Osborne in a Tata Steel jacket looking sad

    Jay Cockburn

    Newsbeat reporter

    As Tata plans to sell their UK steel business we look at why the government is unlikely to bail out steel in the same way it saved the banks.

    Read more
    next
  7. Edward Curwen

    BBC News analysis and research

    Save our Steel badge

    Edward Curwen

    BBC News analysis and research

    The UK government has said it will consider helping Port Talbot steelworks survive - but any intervention risks falling foul of European Union state aid rules.

    Read more
    next
  8. Apple's big 4-0

    Two shoppers in Tokyo take a selfie with the new iPhone SE

    Apple is set to celebrate a big birthday tomorrow. 

    The tech giant - which was set up in a California garage on 1 April 1976 - will hit the grand old age of 40. 

    From those humble beginnings it's grown into a company worth $700bn (£486bn). 

    And ahead of the big day Apple has just launched its iPhone SE - aimed at emerging markets like China and India - and the new smaller iPad Pro.

  9. Chancellor: 'Port Talbot could have closed overnight'

    George Osborne is attending the G20 Finance Ministers' meeting in Paris

    Quote Message: Faced with the collapse of the world steel price, we were facing a situation where Port Talbot could have closed overnight. The government intervened to buy breathing space to look for a long term future under new owners. That's what we're doing right now. And we're also taking action to cut energy prices, to make sure that British steel is used in British construction. And we're having conversations with other governments, like I'm having here in Paris, to make sure we take action against unfair cheap steel imports. " from George Osborne Chancellor of the Exchequer
    George OsborneChancellor of the Exchequer
  10. Customers queue for Tesla's Model 3

    BBC technology correspondent tweets

    The newest and cheapest Tesla electric car - the Model 3 - is due to be unveiled in Los Angeles later.

    It's got a price tag of about $35,000 (£24,000) and is being billed as a test of Tesla's ability to become more than just a niche player in car manufacturing. 

    View more on twitter
  11. The FTSE edges down ...

    The FTSE 100 closed down slightly - (-0.46%) or 28 points at 6,174.90.

    The biggest riser was travel firm TUI off the back of news that its bookings are up for the summer, especially from UK customers. 

  12. Survey to turnaround Norwich market

    Rob Sykes

    BBC Radio Norfolk

    A consultation on the future of Norwich market ends today. 

    More than a third of the stalls currently stand empty, and Norwich City Council has been asking for ideas on how to turn it around.                       

    Video content

    Video caption: A market has stood in Norwich for 900 years
  13. Ring a bell?

    Most people - a staggering 88%, in fact - miss common warning signs of a pensions scam, for example, unusually high investment returns, cold calling and offers of free financial advice. 

    That's according to a new report called "Too good to be true" published by the charity Citizens' Advice. 

    The trouble is most people think they can spot a fraudster's tricks a mile off. 

    The report reckons phone calls, post and emails which come out of the blue pose the greatest risk of a scam. It found nearly 11 million consumers had received unsolicited contact about their pension in the last year.  

    Citizens' Advice has several tips to avoid being scammed - top of the list: "Ignore any contact you receive out of of the blue about your pension. This could be in person, online, on the phone or in the post."

    You've been warned ...