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Summary

  1. UK unemployment rises by 21,000 in three months to February
  2. Mitsubishi Motors admits to falsifying fuel economy figures
  3. Coca-Cola shares slump after disappointing results
  4. Oil prices rebound

Live Reporting

By Bill Wilson

All times stated are UK

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  1. Good night

    That's all from the live page for another day. Back as usual from 6am tomorrow. Please join us then.  

  2. Wall Street closes higher

    The Dow Jones rose by 43.73 points, or 0.24%, to 18,097.33, while the S&P 500 gained 1.61 points, or 0.08%, to 2,102.42. Meanwhile, the tech-heavy Nasdaq added 7.80 points, or 0.16%, to 4,948.13.  

    The biggest faller on the Dow was Coca-Cola, squeezed by weak European demand and a strong dollar.

  3. New United Airlines board set to take off

    United Airlines is to try and bring unity to the boardroom, by making changes after a tussle with two major shareholders. 

    The carrier will name two new directors picked by PAR Capital Management and Altimeter Capital Management, which jointly own about 7% of the airline's shares. 

    A third new board member, to be agreed on by all parties, will be added within six months. 

    Meanwhile, Robert Milton, a former Air Canada boss, will become chairman of the third biggest US airline.

  4. Jackson faces dollar axe but Hamilton to remain

    $10 bill

    Treasury officials in Washington have said that an African-American woman is to appear on US currency for the first time in the country's history. 

    Harriet Tubman, a 19th century escaped slave who became an abolitionist, ferried thousands of slaves to freedom. Now she is poised to replace the seventh US president, Andrew Jackson, on the $20 note.

    One of the US founding fathers, Alexander Hamilton, will remain on the $10 bill, after mooted plans to remove him drew swift criticism from legions of fans of the hit Broadway musical "Hamilton".  

  5. Oil price continues its comeback

    World oil prices rebounded on news of a fresh fall in US crude production. US benchmark West Texas Intermediate (WTI) for delivery in May was up 68 cents to $41.76 a barrel, reversing earlier losses. 

    Meanwhile Brent North Sea crude for June delivery gained 73 cents to $44.76 a barrel.

    US oil output continued to drop last week on weak prices and increased stockpiles.

  6. All kicking off over Italian TV football deal

    Sami Khedira of Juventus

    Italy's antitrust authority has handed out fines of €66m euros to the Italian football league and rights holders for what it said was the fixing of the sale of TV packages for Serie A matches. Mediaset Premium TV was fined  €51.4m, advisor Infront  €9m, Sky Italia €4m, and the league €2m. 

    Authorities said the league had backed a pre-arranged deal that prevented other broadcasters from bidding successfully for the 2015-18 live rights. 

    Mediaset said it would appeal and said the decision was "based on a theory built on sand."

  7. Could VW be nearing a deal?

    Reports are surfacing that German carmaker Volkswagen, could be closing in on a compensation deal with its customers over the emissions scandal. 

    The firm admitted in September to using illegal so-called defeat devices in up to 11 million diesel vehicles worldwide.

    According to Germany's Die Welt newspaper VW will pay $5,000 to each affected customer.

    Die Welt said the agreement would be presented on Thursday to Judge Charles Breyer in San Francisco, avoiding a trial that was set to start in the summer. 

  8. All eyes on Mitsubishi

    Mitsubishi's shares closed 15% lower after the Japanese car firm admitted falsifying fuel economy data for more than 600,000 vehicles sold in Japan. All eyes will be on the firm's stock when Asian markets open to see if the slide continues.

    Meanwhile, if anyone was wondering why the executives bowed so deeply at the press conference earlier, read our Asia business correspondent Karishma Vaswani's piece on the importance of saying sorry in Japan. 

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  9. Energy shares boost Wall Street

    The upturn in oil prices is helping to push Wall Street higher. The Dow Jones is currently up 0.5% at 18,139.0. But will the uptick in share prices continue?

    If earnings surprise on the upside, "you could see people ... join the rally, and that money from the sidelines will move into the market," according to Nadia Lovell, US Equity Specialist at JP Morgan Private Bank.

  10. Tashaneish Crawford

    Newsbeat reporter

    Yik Yak app on a mobile phone

    Tashaneish Crawford

    Newsbeat reporter

    The National Union of Students says it wants to work with Yik Yak - and other platforms which allow anonymity - to find a way to stop online abuse.

    Read more
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  11. Microsoft to halt Xbox 360 production

    Microsoft Xbox 360

    Microsoft has said it will stop production of its Xbox 360 video game console, first launched in 2005.

    It said it would continue to sell existing stock of the consoles, with availability varying from country to country.

    Quote Message: Xbox 360 means a lot to everyone in Microsoft. And while we’ve had an amazing run, the realities of manufacturing a product over a decade old are starting to creep up on us. Which is why we have made the decision to stop manufacturing new Xbox 360 consoles. from Phil Spencer Microsoft Head of Xbox
    Phil SpencerMicrosoft Head of Xbox
  12. City of London Corporation in Brexit warning

    City of London skyline

    The UK's financial services sector would be badly hit if the 23 June referendum results in a vote to leave the European Union, the City of London Corporation has warned. 

    Speaking at a Brexit legal debate, its chairman Mark Boleat said that there would be "serious consequences" for the City's position as an international financial centre.

    "We would see UK-based financial institutions lose access to the single market and some would consider relocating elsewhere in the EU - not overnight but over time. Lloyds of London, HSBC, JP Morgan, Barclays and Citigroup are among the institutions to have spoken up on the issue, warning about jobs losses or relocating some of their business overseas." 

  13. US home sales boosted in March

    US home for sale

    Sales of existing US homes rebounded last month, up 5.1% to an annual rate of 5.33 million sales in March from 5.07 million in February.

    "We expect the US housing market to remain in a gradual recovery mode." Lawrence Yun, National Association of Realtors chief economist said.

    "Closings came back in force last month as a greater number of buyers, mostly in the Northeast and Midwest, overcame depressed inventory levels and steady price growth to close on a home."

  14. Oil prices rebound

    Oil prices rebounded on Wednesday as US government data showed crude stocks rose last week by slightly less than expected.

    Brent crude oil was up 77 cents at $44.80 a barrel, while US crude was up 67 cents at $41.75 a barrel. Oil prices had been lower earlier as Kuwaiti workers ended a three-day strike. 

  15. FTSE closes ahead

    The FTSE has closed at a new high for the year, after it closed slightly ahead on Wednesday.

    At close of trade it was up by 4.91 points, or 0.08%, at 6410.26.

    Bookmaker Paddy Power Betfair was one of the biggest fallers, by 4.3% after Credit Suisse started its coverage of the stock with an "underperform" rating. 

    It said there were concerns that the benefits from a merger between Paddy Power and Betfair had been overstated.

  16. Dutch court annuls Yukos payout award

    A Dutch court has annulled an international tribunal's award of $50bn (£35m) in compensation to shareholders of defunct Russian oil giant Yukos.

    The district court in The Hague ruled that the international Permanent Court of Arbitration (PCA), based in the same city, had not been "competent" to rule in the matter. 

    Former Yukos shareholders said they would appeal against the decision, but Russia's legal team said the Dutch ruling meant the end of the long-running saga.

    Yukos had been controlled by Mikhail Khodorkovsky, but just over a decade ago he was jailed on tax charges and Yukos was bankrupted.

  17. US Treasury secretaries in EU exit warning to UK

    EU and Union flags

    Leaving the European Union would be a "risky bet" for the UK, eight former US Treasury secretaries have said.

    The advisors, who served both Republican and Democratic presidents, say it could threaten London's pre-eminence as a financial capital.

    In a Times article ahead of President Obama's UK visit, they say it would be "difficult" to negotiate trade deals.

    But Leave campaigners accused the men of double standards and "belittling Britain's place in the world".

  18. Vote Leave's Dominic Cummings asked if Bank governor 'scaremongering'

    Video content

    Video caption: Vote Leave asked if Bank of England governor 'scaremongering'
  19. Daily Mail not ready to swoop for Yahoo!

    Yahoo! logo

    In response to media speculation Daily Mail and General Trust plc has said it "would like to clarify that it has not submitted a bid to purchase Yahoo!" 

    But it says it "remains in discussions with parties who may potentially be interested in Yahoo!"

    Yahoo! is under pressure from shareholders to turn itself around.

    The activist hedge fund investor Starboard Value recently called for the replacement of the entire board at the loss-making company. Yahoo!'s media assets include Yahoo News, Yahoo Finance, Yahoo Sports and a range of digital magazines.