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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Strong sales buoy Morrisons
  3. Prudential to demerge fund manager
  4. Balfour Beatty reports jump in profits
  5. Tech giants pay tribute to Stephen Hawking

Live Reporting

By Mary-Ann Russon

All times stated are UK

  1. Good night

    BBC testcard

    That's it for Wednesday on Business Live. We'll be back bright and early at 06:00 tomorrow.

    Do join us then for all the latest breaking news and analysis from the business world.

  2. Musk foxes

    Elon Musk

    Tech entrepreneur Elon Musk is dropping hints on social media that he is up to something.

    The Daily Beast says several former writers for the satirical news site The Onion have confirmed that they are working on a secret comedy project financially backed by Mr Musk.

    In response to the news, today Mr Musk tweeted the word, "Thud!" to his followers, which could be a clue.

    Gizmodo thinks it could be the name of his new comedy media enterprise, because the entrepreneur is fond of putting pop culture references into his space and automobile companies.

  3. Wall Street closes lower

    Wall Street

    Wall Street shares have closed lower, as industrial companies continued to suffer from concerns over the potential impact of new tariffs on trade.

    The Dow Jones fell 249 points to 24,758.

    The S&P 500 also fell 16 points to 2,749.

    And the tech-heavy Nasdaq slipped by 14 points to 7,497.

  4. Larry Kudlow blames China for trade tariffs

    Larry Kudlow

    Trump's incoming economic adviser, TV pundit Laurence Kudlow, has blamed China for Trump's tough stance on trade tariffs.

    "China has not played by the rules for a long time... I must say, as somebody who doesn't like tariffs, I think China has earned a tough response," said Mr Kudlow.

    Although Mr Kudlow has spoken against tariffs in the past, he said he hoped a coalition of countries could act against China on trade.

    He does not feel that tariffs would hurt the broader US economy, and said he was relieved by proposed exclusions for certain countries to the proposed steel and aluminum tariffs.

  5. Wall Street still on a downer

    Girl and bull sculptures on Wall Street

    The Dow Jones is currently down 262 points or 1.05% to 24,745.07.

    Boeing is still leading the losers, falling 2.7% to $329.70 on fears of a trade war over Trump's tariffs, while Disney has risen 0.21% to $103.95 on the news that it is restructuring its business.

    The S&P 500 is now lower, falling 15.6 points or 0.6% to 2,749.73. Signet Jewelers tops the losers, plunging 19.8% to $38.44.

    And the tech-heavy Nasdaq is has dropped 17.2 points or 0.23% to 7,493.77. Auris Medical heads the losers, sliding an epic 34.1% to $1.66 on news its tinnitus treatment has failed a pivotal late-stage study.

  6. Would you like to back-up your brain?

    A brain model

    A start-up that claims it will one day allow people to back-up their brains admits it will come at the ultimate price: death.

    Nectome has said it will one day be capable of scanning the human brain and preserving it, perhaps running a deceased person's mind as a computer simulation.

    However, its current process requires a fresh brain.

    The product is "100% fatal", the team behind it told MIT Technology Review.

  7. Bringing clothes manufacturing back to Britain

    BBC Breakfast

    Jenny Holloway, chief executive of Fashion Enter, set up a factory in London to help bring clothes manufacturing back to the UK. Here's her story...

    View more on twitter
  8. Amazon recalls fire-risk power packs in UK, Europe and US

    Amazon Basics power banks

    Owners of Amazon's own-brand power bank chargers have been contacted by the firm telling them to stop using them.

    A recall covering six models of the Amazon Basics-branded product was announced in the US and Canada on Tuesday.

    A notice posted by the US Consumer Product Safety Commission (CPSC) warned the packs could "overheat and ignite, posing fire and burn hazards".

  9. Etsy told to remove 'vile' greeting cards

    Karen Matthews card

    "Vile" greeting cards featuring Karen Matthews and Jimmy Savile should be removed from sale, a charity has said.

    The NSPCC has described the Mother's Day and Father's Day cards, which are drawn in a cartoon style, as "thoughtless and irresponsible".

    Freelance illustrator Samuel Hague, who sells the pieces via online marketplace Etsy, defended his work and said he does "not condone any acts of child abuse whatsoever".

    Etsy has been approached for comment.

  10. Mail Online warned over Oxford Circus panic incident

    Screenshot of inaccurate story

    The Independent Press Standards Organisation (IPSO) has warned the Mail Online over its coverage of the incident at Oxford Circus in November, which saw pedestrians and shoppers flee the shopping district.

    Members of the public tweeted that they had heard gunshots, but the reports were eventually found to be false.

    The Mail Online has been criticised for publishing some of the comments made on social media, including reports that a lorry had "ploughed into pedestrians".

    Numerous complaints were made over the article, especially because the Mail Online did not publish a correction - instead it deleted an erroneous tweet and amended the article, according to Press Gazette.

    IPSO said that publications reporting on breaking news stories must take "appropriate care" over the accuracy of what is published.

  11. We still want your business...

    Simon Jack

    BBC Business Editor

    We don't want your spies and we certainly don't want your assassins but we do want to keep doing business with you.

    That seemed to be the message from the Prime Minister as she announced a robust diplomatic and security response but took a less aggressive line on the significant trade and investment ties between the UK and Russia. It was always going to be very difficult to retaliate financially without risking important business interests.

    BP's 20% stake in the state-controlled oil giant Rosneft accounts for nearly a third of its global oil production, and the UK companie's chief executive sits on a board chaired by close Putin associate Igor Sechin. There are dozens of Russian companies listed in the UK and Russian business - people have significant interests in property, football and publishing.

    To those Russians who live and operate perfectly legal business here, - in the Prime Ministers words "make an important contribution to the UK" - there was a message of continuing welcome.

    Life won't get any more comfortable for the Russian rich who have made the UK a home from home, but there was little in today's statement that will make it more difficult for business to flow in both directions.

    It will be interesting to see if the Russian response to this powerful diplomatic retaliation will similarly avoid using business as a weapon of choice.

  12. What will the future of cars look like?

    Robot taxis, funky lights, a living room on wheels: The Geneva Motor Show gives us a glimpse into the future of motoring.

    Video content

    Video caption: What will the future of cars look like?
  13. UK government warns of travel risks

    Theresa May and Vladimir Putin

    Following the government's decision to expel 23 Russian diplomats, Foreign Office has warned Britons who are currently in Russia or looking to travel to Russia that they could be at risk of "anti-British sentiment or harassment".

    British ministers and royals will no longer attend World Cup 2018, which begins in Moscow, before moving on to other parts of the country.

  14. BreakingTV pundit Lawrence Kudlow 'to be Trump economic adviser'

    Television commentator Lawrence Kudlow

    US President Donald Trump is to pick television commentator Lawrence Kudlow to be his top economic adviser, US media reports.

    Mr Kudlow will reportedly lead the National Economic Council after Gary Cohn quit last week.

  15. Disney announces corporate reorganisation

    Mickey and Minnie Mouse

    Disney has announced that it is restructuring its business operations to bring its direct-to-consumer services, technology and studio and media networks into one single world-wide business.

    Its consumer products division will merge with the parks operations unit, and all stories, characters and franchises will be managed by this new unit.

    Meanwhile, responsibility for international Disney channels, its upcoming streaming service, as well as management of global advertising sales, will move to a new division called "Direct-to-consumer and International".

  16. FTSE finishes flat

    LSE

    The FTSE 100 share index has closed higher - just - at 7,143, after gaining 4 points.

    News of Prudential's demerger sent its shares up more than 5%, while supermarket chain Morrison closed 5% down after a special dividend and an investor focus on cash flow.

    Meanwhile, the FTSE 250 closed lower, down 43.11 points or 0.22% to 19,820.12. The top loser was the Dairy crest Group, which fell 7.57% to 507p.

  17. 'No plans' to scrap 1p and 2p coins

    2p coins

    Downing Street said there are no plans to scrap either 1p or 2p coins.

    A consultation is underway to help the government better understand the role of cash and digital payments in the economy.

    "One of the elements was whether the denominational mix of coins meets the public need," said the prime minister's spokesman. "From the early reaction it looks as if it does."

  18. BreakingSEC charges Theranos founder

    Elizabeth Holmes

    The Securities and Exchange Commission has charged Theranos, the Silicon Valley-based blood testing company, its founder and chief executive Elizabeth Holmes (pictured), and former president Ramesh “Sunny” Balwani, with raising more than $700m from investors through an elaborate, years-long fraud.

    The regulator said they exaggerated or made false statements about the company’s technology, business, and financial performance.

    The SEC said Theranos and Ms Holmes have agreed to resolve the charges against them. As well as paying a penalty, Ms Holmes will lose control of the company.

    She will also be banned from being an officer or director of a public company for 10 years.

  19. Coinbase gains a UK money licence

    Bitcoin

    One of the world's largest cryptocurrency exchanges Coinbase says it has obtained an e-money licence in the UK, and opened a bank account with Barclays.

    According to Bloomberg, the licence will allow Coinbase to issue e-money and provide payment services in the UK.

    These rights will also allow the firm to do business and strike partnerships in over 20 other European Union countries.