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- RBS to close 162 branches with 792 job cuts
- Pound nears $1.36
- FTSE 100 closes above 7,500 points
- New problems with TSB standing orders
- Gibson guitars files for bankruptcy protection
- Get in touch: bizlivepage@bbc.co.uk
Live Reporting
By Tom Espiner
All times stated are UK
Good night!
That's all for tonight from Business Live - thanks for reading.
Join us again tomorrow from 06:00.
BreakingApple beats expectations
Apple exceeded revenue and profit expectations in its March quarter as it sold 52.2 million iPhones, only a touch below Wall Street targets despite waning global demand for smartphones.
The company also boosted its share buyback programme by $100bn.
Shares jumped 4.5% in after-hours trading in New York.
Snap shares sink
Ooops. The market doesn't like those Snap numbers at all: shares are down 17% in after-hours trading in New York.
Still no sign of Apple's half-year results due out 20 mins ago, by the way.
Snap disappoints - again
Snap's user and revenue growth fell short of analysts' expectations for the first quarter after a widely panned redesign of its Snapchat messaging app.
The app's number of daily active users - crucial for generating advertising revenue - rose to 191 million in the quarter to 31 March, short of expectations of 194.1m.
The figure was up 15% from the same period last year, but lower than 18% growth in the previous quarter.
Total revenue rose 54% to $230.7m - also lower than expected.
Snap posted a net loss of $385.8m but at least that was somewhat better than the $2.21bn loss a year earlier.
User growth at the company's disappearing-message app have repeatedly fallen short of Wall Street's expectations since its heavily-hyped float in March 2017.
T-Mobile revenues rise
T-Mobile, which is buying the smaller US mobile network Sprint, reported an 8.8% rise in first-quarter revenue as it added more subscribers with competitively priced plans.
Net profit fell $671m for the quarter to 31 March despite the rise in revenue to $10.46bn.
Dow ends lower
The Dow Jones Industrial Average ended 0.3% lower as tumbling oil prices and growing fears that tariffs and inflation could weigh on corporate profits.
Data showed US factory activity slowed for a second month in a row in April.
However, the S&P 500 closed 0.25% higher, while the Nasdaq jumped 0.9%.
Rock on...
Bit of a Spinal Tap joke here in this tweet from Ronan Farrow of the New Yorker (who was one of the reporters responsible for exposing Harvey Weinstein, by the way).
More about the Gibson bankruptcy filing here.
New Europe chief for Morgan Stanley
Morgan Stanley has appointed Clare Woodman as the new head of its European, Middle East and Africa division, making her the first woman to lead the unit as the group prepares for Brexit.
The Wall Street giant made the announcement in an internal memo sent to staff by chairman and chief executive James Gorman and seen by the Press Association.
Customs conundrum
More on that little problem called the customs union on Newsnight this evening:
Uber loses Brighton licence
Uber's licence in Brighton will not be renewed, the local council says, adding the taxi app is not "fit and proper" and citing concerns over a data breach and the use of drivers from outside the area.
The Silicon Valley firm is also battling a decision by London's transport regulator last September to strip the firm of its licence, after which Brighton granted a six-month extension while it monitored the situation.
On Tuesday, the Chair of Brighton's licensing panel Councillor Jackie O'Quinn said the council would not renew the firm's right to operate in the area, partly after the company failed to promptly disclose a hack which affected some 57 million accounts worldwide.
"Our priority is the safety of residents and visitors and, due to the data breach and the lack of commitment to using drivers licensed here, we were not satisfied that UBL (Uber Britannia Limited) are a fit and proper person to hold an operator's licence," she said.
Uber said :"This is a disappointing decision for the thousands of passengers and drivers who rely on our app in Brighton and Hove. We intend to appeal so we can continue serving the city."
Hasbro 'to acquire Power Rangers'
Toy giant Hasbro has agreed to acquire children’s entertainment and merchandising franchises, including the characters of superhero TV show Power Rangers from Saban Entertainment for around $520m in cash and stock, Reuters reports.
The deal comes as Hasbro seeks to reverse its losses following the bankruptcy last year of US toy retailer Toys R Us.
Hasbro is the world’s largest toy maker, whose stable of franchises includes “My Little Pony,” “Monopoly” and “The Transformers”.
Harry Potter book printers sold
The 200-year-old book printers that produced the bestselling Harry Potter series has been sold for close to £24.
Clays Ltd prints and binds 150 million books every year at its 19-acre production and distribution site in Bungay, Suffolk.
The firm has been sold by marketing company St Ives to the privately owned Italian print group, Elcograf.
There will be no redundancies and the senior management team will remain in place, a spokeswoman said.
Read more here.
Ex-Tesco chief's 'Sasda surprise'
States to challenge Trump over emissions
California and a group of 16 other states plan to file a lawsuit in a federal appeals court challenging the Trump administration's decision to declare vehicle emissions rules up to the end of 2025 "not appropriate."
In April, US Environmental Protection Agency chief Scott Pruitt said standards on model year 2022 to 2025 vehicles should be revised, reversing a decision by the Obama administration in January 2017.
The US Transportation Department has drafted a proposal likely to be made public this month that would freeze vehicle requirements at 2020 levels until 2026.
Car makers including General Motors and Toyota want the Trump administration and California to reach an agreement to extend national standards.
Goldman Sachs agrees to pay $110m to settle forex claims
Goldman Sachs has agreed to pay $110m to resolve allegations by two US regulators that its foreign exchange traders shared information about investment positions.
Half the $110m fine will be paid to the Federal Reserve and the rest will go to the New York Department of Financial Services.
"The firm failed to detect and address its traders' use of electronic chatrooms to communicate with competitors about trading positions," the Fed said.
The Facebook effect
Mark's new look
Match.com shares plunge after Facebook dating announcement
Not a match made in heaven.
Match.com shares have dropped more than 9% after Mark Zuckerberg said Facebook will launch a new dating feature.
Facebook to offer dating feature
Zuckerberg jokes about 'watch party' for Congress testimony