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Live Reporting

By Dearbail Jordan

All times stated are UK

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  1. Good night

    Test card F

    Thank you for following Business Live.

    Join us next week for more breaking business news as we enter the final stretch of general election campaigning before the vote on 8 June.

  2. Trump picks two for Fed board

    One last development before Business Live winds down - the New York Times is reporting that President Donald Trump has selected two people to join the Federal Reserve's board of governors.

    They are Randal Quarles, who worked in the Treasury during the George W. Bush administration, and Marvin Goodfriend, a former Fed official who is now a professor of economics at Carnegie Mellon University.

    There is one remaining spot to fill on the US central bank's board.

  3. US stock markets close at record high

    America's largest indexes have all finished Friday at record highs.

    The Dow Jones Industrial Average closed up 51.32 to 21,195.50.

    The S&P 500 added 8.81 points to 2,438.90.

    The Nasdaq ended 58.97 points ahead at 6,305.80.

  4. An unshakeable path

    The chances of the US Federal Reserve raising interest rates in June are 90.7%, according to Thomson Reuters, despite disappointing American jobs figures out on Friday.

    Jim Tierney, chief investment officer of concentrated US growth at AllianceBernstein, says: "I wouldn't say the data is supportive of hiking but they are on a path and they are not going to change that path, at least in June."

  5. Watch: Brexit and South Africa

    Brexit isn't just about the UK and the European Union. It could affect companies as far afield as Africa.

    Video content

    Video caption: Could South Africa be bruised by a bad Brexit deal?
  6. Apple boss: I tried to talk Trump round on Paris deal

    Apple chief executive Tim Cook

    Apple chief executive Tim Cook tried to persuade Donald Trump to keep the US in the Paris climate accord but says "it wasn't enough."

    In a memo to staff, published by CNET, Mr Cook said: "I know many of you share my disappointment with the White House's decision to withdraw the United States from the Paris climate agreement.

    "I spoke with President Trump on Tuesday and tried to persuade him to keep the US in the agreement. But it wasn't enough."

    He added: "Climate change is real and we all share a responsibility to fight it. I want to reassure you that today's developments will have no impact on Apple's efforts to protect the environment."

    Read the full memo here.

  7. Records all round for US stocks

    Following a weak opening, the Dow Jones Industrial Average is now motoring ahead 71.25 points at 21,215.43.

    The S&P 500 is at a record 2,438.84 after rising 8.78 points as is the Nasdaq which is up 53.52 points at 6,300.35.

  8. Bloomberg puts up $15m for climate change fight

    Businessman and philanthropist Michael Bloomberg has come up with his own way to fight climate change.

    Bloomberg Philanthropies and a number of partners will pay the $15m in funding the United Nation's Climate Secretariat stands to lose from President Donald Trump withdrawing the US from the Paris climate accord.

    Mr Bloomberg said: "Washington can't stop our climate progress. Americans will fulfill the Paris agreement by leading from the bottom up."

    View more on twitter
  9. BA 'must settle pay deal'

    BA planes on the runway

    Commenting on an upcoming four day strike by BA cabin crew, Unite’s assistant general secretary for legal services Howard Beckett, says: “BA is almost alone among the employers this union has dealt with in that they can accept the case for a pay deal but want to punish the very people who made the case.

    “In an airline of the size and status of BA passengers want to know staff are treated with respect.

    "Punishing staff for using legitimate industrial means to reach a wage deal is a culture that Unite cannot accept and a culture that will ultimately damage the BA brand. Allow us to settle this dispute, remove the sanctions and let’s move on."

  10. BA 'is punishing former strikers'

    BA strike action

    The union representing BA cabin crew claim some cabin crew are being punished for previous strike action.

    Unite claims: "The latest wave of action has been prompted by BA’s persistent refusal to restore the travel concessions that airline management had withdrawn from those who took part in strike action."

  11. After June, what next?

    US Federal Reserve

    It isn't a US interest rate rise in June that market-watchers are worrying about. It is what happens after that which is concerning them.

    Michael Feroli, an economist at JPMorgan in New York, tells Reuters: ""While the message was a little muddied today, the evidence generally suggests the labor market is cyclically tightening, and the Fed will need to continue to lean against that.

    "We still believe it is very likely that the Fed will hike later this month. Perhaps more in question is the signal coming out of that meeting regarding subsequent hikes."

  12. That's magic!

    There's been an awful lot of talk during this election campaign of magic money trees. The BBC doesn't know where they grow, but we can show you how to make money out magic.

    View more on twitter
  13. BreakingBA: strike action is completely unnecessary

    BA plane

    BA has responded to upcoming strike action by its cabin crew.

    It says: "As on the previous dates when Unite called strikes of mixed fleet cabin crew, we will fly all our customers to their destinations.

    "Strike action is completely unnecessary. We had reached a deal on pay, which Unite's national officers agreed was acceptable. We urge Unite to put the pay proposals to a vote of their members."

  14. Oil prices fall on glut fears

    Oil tanker

    Oil prices have continued to trade lower since US President Donald Trump withdrew America from the Paris climate accord.

    Brent crude is down 1.3% at $49.97 a barrel while West Texas Intermediate is off 1.5% at $47.66.

    There is concern that the US exit could spur oil drilling and add to an existing glut of crude.

  15. BA cabin crew 'to strike'

    Capping off a memorable week for British Airways, the Press Association is now reporting that BA cabin crew are set to stage a four-day walkout from 16 June over pay.

    Business Live will bring you updates as soon as we have them.

  16. FTSE 100 goes full circle

    So, after an exiting day of new highs, the FTSE 100 has ended up right back at where it started.

    London's leading index finished Friday up 0.43 points at 7,544.20.

    The FTSE 250 closed down 30.35 points at 19,980.10.

  17. Bernie Sanders at Oxford Union: Trump 'stupid' for climate deal withdrawal

    Donald Trump's withdrawal of the US from the Paris Agreement was "stupid, short-sighted and foolhardy", former presidential hopeful Bernie Sanders has said.

    The former Democratic contender for the White House accused the American president of making a "backwards decision", during a speech to Oxford students attending the launch of his new book.


    The politician told the Oxford Union: "Yesterday, President Trump did something which I think is incredibly stupid, short-sighted and foolhardy."

    "It was an incredibly backwards decision which will hurt the United States and hurt the whole world.

    Mr Sanders was introduced by his older brother Larry Sanders, who is contesting the Labour-held Oxford East seat for the Green Party on June 8, and was warmly welcomed with rapturous applause from the crowd.

  18. Independent women sparkle

    Actress Ginnifer Goodwin at the Academy Awards

    Single American women buying their own high-end jewellery is helping to drive diamond sales, according to De Beers.

    The group, which is majority-owned by Anglo American, says that total US diamond sales rose by 4.4% in 2016 to more than $40bn.

    De Beers said that while bridal sales were the foundation of demand in the US, "...more frequent acquisitions and a higher value of spend from single women helped drive demand. Meanwhile, self-purchase trends increased among both single and married women."

    De Beers expects a slower pace of growth from the US but said that diamond sales in India have started to return to normal levels after a jewellers’ strike helped send trade down 8.8%.