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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Melrose gains control of GKN
  3. Wall Street trading higher
  4. Businesses look ahead to Brexit
  5. Bargain Booze-owner heads for administration

Live Reporting

By Mary-Ann Russon

All times stated are UK

  1. Good night

    BBC Testcard

    That's it for today on Business Live - thanks for reading. We'll be back bright and early at 06:00 on Friday.

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

  2. Wall Street closes higher

    Bronze statues in Wall Street

    US markets surged on Thursday as technology stocks rebounded after a torrid week.

    The Dow Jones Industrial Average closed 1.31% higher at 24,159.98 points, while the S&P 500 gained 1.4 % to 2,641.46.

    The tech rich Nasdaq Composite added 1.64% to 7,063.45.

    Tech firms Facebook, Apple, Alphabet and Microsoft all chalked up gains while the S&P 500 tech index climbed 1.4%, having fallen sharply earlier this week.

  3. Video content

    Video caption: One years to go, how do Londoners feel about Brexit?

    With one year until the UK leaves the EU we ask Londoner how they feel.

  4. In case you missed it...

    Uber

    Uber has settled with the family of a woman that was killed by its self-driving vehicle in Arizona.

    Elaine Herzberg, 49, died after being hit by an Uber self-driving SUV while walking across a road in Phoenix earlier this month.

    Terms of the settlement have not been released, and the lawyer representing Ms Herzberg's daughter and husband said the matter has been resolved.

  5. Trump's latest thoughts on trade

    US President Donald Trump

    US President Donald Trunp has been busy today.

    He's decided to suspend Rwanda's duty-free status on clothing imports, as the country has imposed barriers to clothing exports from the US.

    He's also decided to withhold a trade deal with South Korea, if the republic doesn't reach an agreement with North Korea on denuclearisation.

  6. Worst quarterly performance of global stocks in 2.5 years

    Global stocks are not doing well right now, to the extent that many indices could see their weakest quarters since 2015.

    In March, the FTSE 100 was down 8% and the S&P 500 was down 1.4%, while the FTSE All World index was down 1.6% in the year to 29 March.

    And of course, the Nasdaq has been down 3.1% this quarter thanks to various problems affecting tech giants like Amazon and Facebook.

  7. Microsoft restructures Windows group

    Microsoft logo

    Microsoft has restructured its Windows operating system division, leading to the departure of Windows and devices chief Terry Myerson.

    Microsoft's chief executive Satya Nadella is making changes to help the firm to focus on software for cloud computing and artificial intelligence.

    The Windows engineering team will be split in two - half of the team will join a division that oversees all of Microsoft's software platforms, while the other half of the team that handles Windows user interface will join a unit focusing on experiences and devices across the firm.

    Rajesh Jha, who was in charge of Office, will head up the experiences and devices team, while Scott Guthrie will oversee the enlarged cloud computing and AI group.

  8. iPhone update adds privacy 'transparency'

    An iPhone

    Apple has updated its iOS, MacOS and tvOS operating systems to give people more information about how their personal data is collected and used.

    After updating, customers will see new information screens when they use Apple-made apps that collect personal data, such as App Store.

    The change comes ahead of new EU data protection rules, which take effect on 23 May.

    Apple also plans to let people download the data it has stored about them.

    Read more

  9. Will Scottish gin find Brexit a tonic or a bitter lemon?

    Pickering's Gin bottles

    Scottish gin is enjoyed by customers across Europe, but how will its export to the trendy bars of Vienna be affected by Brexit?

    Whisky may be Scotland's biggest export but there is an increasing demand for Scottish gin.

    According to Leah Shaw-Hawkins, 70% of the UK's gin is made in Scotland, including a lot of the big brands.

  10. Wall Street still rising

    Wall Street

    The Dow Jones Industrial Average is now 262.5 points or 1.1% higher at 24,110.96. Walt Disney leads the winners, up 2.2%.

    The S&P 500 has risen 1.1% to 2,633.72, led by health insurance intermediary firm Centene Corp, up 5.6%.

    And the tech-heavy Nasdaq has recovered - it is now up 107 points at 7,056.36. Sorrento Therapeutics and Dropbox top the index, rising 10.3% and 8.1% respectively.

  11. Volkswagen class action lawsuit likely to go ahead

    Volkswagen logo

    The biggest class action lawsuit in British history is likely to receive the go-ahead, a London court has indicated.

    About 60,000 car owners are suing German carmaker Volkswagen over the emissions scandal, which saw software fitted into 11 million cars to cheat US diesel emissions tests designed to limit air pollution.

    The lawsuit will be handled by Slater and Gordon, as well as Leigh Day.

    Although Volkswagen has paid millions in fines and compensation to US drivers, it has not compensated British drivers.

    About 1.2 million VW, Audi, Skoda and SEAT vehicles are affected in the UK.

  12. Carnival Cruise offers teen free trip for Snapchat handle

    Darian Lipscomb

    Carnival Cruise Line has convinced a 15-year-old teenager in the US state of Virginia to trade his Snapchat handle for a free family cruise.

    Darian Lipscomb of Prospect, Virginia, was surprised to find company representatives at his home requesting his @CarnivalCruise name.

    "I answered the door, walked outside and saw my name on a big truck," the teenager told local media.

    In exchange the company offered a free trip to Spain for his family.

  13. London closes higher on GKN takeover

    GKN flag

    London shares have ended slightly ahead, led by British engineering giant GKN, which has succumbed to a hostile takeover bid from turnaround firm Melrose.

    The FTSE 100 closed up 11.9 points or 0.17% at 7,056.61. GKN topped the winners, rising 6.4% to 450.07p.

    The FTSE 250 also ended on a high, climbing 103.9 points or 0.54% to 19,460.47, led by intellectual property commercialisation firm IP Group. It was up 7% to 115p after reporting that its portfolio doubled in value in 2017.

  14. BreakingGKN loses independence battle to Melrose

    BBC Breaking News

    Melrose Industries has won control of the UK engineering giant GKN.

    The investment company said it had the support of approximately 52.43% of GKN investors.

    Melrose, which specialises in turning around manufacturing companies, had offered £8.1bn for the company.

    Christopher Miller, Chairman of Melrose said: "We are delighted and grateful to have received support from GKN shareholders for our plan to create a UK industrial powerhouse with a market capitalisation of over £10 billion and a tremendous future.

    "We are looking forward to working with GKN's talented workforce and to delivering for customers and all stakeholders. Melrose has made commitments as to investment in R&D, skills and people and we are very excited about putting these into action.

    "Let me assure you that GKN is entering into very good hands."

  15. Air passengers sending bailiffs to airlines

    A man waiting in an airport

    Bailiffs are being sent into airline offices because companies are failing to pay passengers compensation for flight delays and cancellations, BBC Radio 4's You and Yours has learned.

    Thousands of court rulings ordering compensation have been ignored by airlines, including EasyJet and Thompson Airways (now TUI Airways).

    In one case bailiffs boarded a plane.

    EasyJet says it is changing its policies about claims, while TUI Airways has launched an investigation.

  16. A positive view on Sainsbury's

    Sainbury's

    Supermarket shares have been leading the charge on the FTSE 100 today.

    We explained in an earlier post why analysts at Bernstein were so keen on Morrisons shares. (It's the dividend).

    Over at Jefferies they are keen on Sainsbury's. Jefferies analysts recently met the management at Sainsbury's and found they were confident that they would meet profit expectations this year.

    That confidence is down to cost savings and "a more disciplined approach to pricing".

    Jefferies also notes that Sainsbury's is having success promoting new exclusive brands, including Godiver and L'Atelier chocolate.

    The research note was also positive about the introduction of Argos into Sainsbury's.

    Sainsbury's shares are up 2%.