Got a TV Licence?

You need one to watch live TV on any channel or device, and BBC programmes on iPlayer. It’s the law.

Find out more
I don’t have a TV Licence.

Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Pound climbs
  3. Jes Staley fined £642,000 over whistleblower claims
  4. MPC 'lacks strategy' says former member
  5. Interserve investigated by FCA
  6. Owner of Zoopla and uSwitch sold

Live Reporting

By Tom Espiner

All times stated are UK

  1. Good night

    That's all for tonight folks. See you again on Monday from 06:00.

  2. Wall Street closes flat

    Wall Street traders

    Wall Street has closed relatively flat, but healthcare shares were higher after President Donald Trump's speech on drug prices.

    The Dow Jones Industrial Average rose 90.58 points, or 0.37%, to 24,830.11, the S&P 500 gained 4.62 points, or 0.17%, to 2,727.69 and the Nasdaq fell 2.09 points, or a tiny 0.03%, to 7,402.88.

  3. Fiat Chrysler chief supports looser fuel efficiency standards

    Sergio Marchionne

    Fiat Chrysler chief executive Sergio Marchionne has said he supports White House efforts to loosen fuel efficiency standards for cars to account for a trend in people buying larger vehicles.

    Environmental Protection Agency head Scott Pruitt has said standards on model year 2022 to 2025 vehicles should be revised.

    Prior to being appointed head of the EPA by Donald Trump, Mr Pruitt sued the agency 14 times to fight environmental regulations.

    But Mr Marchionne said the industry would continue to improve fuel efficiency and reduce greenhouse gas emissions regardless of rule changes.

    "We shouldn't become, sort of, poster children of a cause here," Mr Marchionne said.

    On proposed changes to car rules under Nafta, he said: "I think we have to redirect the Mexican production to a global market."

  4. Staley 'failed to set an example' says Morgan

    Nicky Morgan

    Barclays chief executive Jes Staley failed to set a good example to the rest of the bank says Treasury committee chair Nickey Morgan.

    "A chief executive should set an example to the firm’s employees. Clearly Mr Staley has failed in this regard," she says.

    “In our next evidence session with the FCA, we’ll ask why it believes that the fines are appropriate."

    The committee will also ask the regulator "what it believes the implications are for the Senior Managers Regime" - the rules governing bosses' personal accountability.

  5. Argentine peso weakens to fresh all-time low close against dollar

    A man clutches his head

    Argentina's central bank sold reserves in the foreign exchange market, traders said, as the Argentine peso weakened 2.74% to an all-time low closing level of 23.35 per US dollar.

    This is despite talks aimed at securing an IMF standby deal.

    The government of President Mauricio Macri has sought to stabilise Argentina's swooning currency by requesting a "high access stand-by arrangement" with the International Monetary Fund.

    The request was made earlier this week after the peso weakened to all-time lows.

    The negotiations between government and IMF officials are taking place in Washington.

  6. Drugs lobby 'making fortune' says Trump

    Donald Trump

    US president Donald Trump has made a speech about US drug prices.

    He said the drugs lobby is making an "absolute fortune" at the expense of US taxpayers.

    A new pricing plan will encourage drug makers to keep prices low.

    The US will not be "cheated" by foreign governments, who "extort" unreasonably low prices from US drug makers, he added.

  7. Takata's defective air bags 'linked to 278 US injuries'

    The faulty devices have been linked to at least 17 deaths globally
    Image caption: The faulty devices have been linked to at least 17 deaths globally

    Defective air bags by Takata have been linked to 278 injuries in the US, according to updated figures released by US Senator Bill Nelson, a Democrat, of Florida, Reuters reports

    The air bags have also been linked to 15 deaths, according to the statement by the senator.

    The US National Highway Traffic Safety Administration ordered the first recall in 2015, but Mr Nelson said as of 30 March about 16.4 million unrepaired inflators remain in vehicles on US roads.

  8. Mexico 'will not be rushed into poor Nafta deal'

    Mexico will not be rushed into revamping the North American Free Trade Agreement (Nafta) to get a deal, Economy Minister Ildefonso Guajardo has said.

    "I have to make very clear [that] the quality of the agreement and the balance of the agreement has to be maintained. So we are not going to sacrifice balance and quality for time," he told reporters.

  9. Not so sweet

    High-end chocolate maker Hotel Chocolat has alleged plagiarism after Waitrose brought out chocolate bars with wavy edges, the Guardian reports.

    On Thursday Hotel Chocolat co-founder Angus Thirlwell tweeted:

    View more on twitter

    Waitrose told the Guardian: “We take the intellectual property rights of other businesses extremely seriously and so we are looking into the points made by Mr Thirlwell.

    “However, we were only approached about this matter yesterday afternoon and we will, of course, need to consider the issues raised, which we will urgently."

  10. Iran nuclear deal: The EU's billion-dollar deals at risk

    France's Total signed a major gas production deal with Iran after sanctions were lifted
    Image caption: France's Total signed a major gas production deal with Iran after sanctions were lifted

    The EU is scrambling to find ways to safeguard huge business deals with Iran, amid the threat of US penalties.

    Washington is re-imposing strict sanctions on Iran, which were lifted under the 2015 international deal to control the country's nuclear ambitions. On 8 May President Donald Trump denounced the deal, saying he would withdraw the US from it.

    Since the deal took effect in 2016 major European firms have rushed to do billions of dollars' worth of business with Iran, and now thousands of jobs are at stake.

    Many of those firms fear their business ties with the US could be at risk of they continue to do deals with Iran past a November deadline.

    Read more here.

  11. Didi suspends Hitch service

    Chris Johnston

    Business reporter, BBC News

    Didi

    China's Uber - Didi Chuxing - is suspending its car-pool service for a week following the killing of a flight attendant after she ordered a ride home from an airport hotel.

    The 21-year-old woman, who died on 6 May in Zhengzhou, had ordered a ride using Didi's Hitch service, which pairs up commuters heading in the same direction.

    Police said they were searching for a 27-year-old man who later abandoned the car.

    The case has gone viral on Chinese social media and was the top-trending item on Weibo - China's equivalent of Twitter - on Friday.

    Didi said the suspect was driving under his father's Hitch account and evaded its facial recognition security measure.

    Hitch, one of 13 services offered on Didi's platforms, "will be suspended nationwide for a week of rectification" beginning at midnight on Friday.

    It was the second known killing involving the Hitch service.

  12. Symantec shares dive

    Symantec shares are down almost 33% after the Norton Antivirus maker said it was investigating concerns raised by a former employee and it reported full-year results below analysts' estimates.

    As a whole, US markets are slightly up after a rise in healthcare shares ahead of a speech by President Donald Trump's on drug pricing.

    Dow Jones Industrial Average was up 78.50 points, or 0.32%, at 24,818.03, the S&P 500 was up 3.01 points, or 0.11%, at 2,726.08 and the Nasdaq Composite was down 14.16 points, or 0.19%, at 7,390.81.

  13. Cohen payments a 'big mistake' says AT&T chief

    Stormy Daniels and Michael Cohen

    Payments made by AT&T on the sly to Donald Trump's personal lawyer Michael Cohen (pictured right) were a "big mistake", chief executive Randall Stephenson has said in an employee memo, Reuters reports.

    AT&T's head lobbyist, Bob Quinn, who oversaw the payments to Mr Cohen, is retiring, according to the memo.

    The telcoms giant said on Tuesday it had hired Essential Consultants, a company run by Mr Cohen, to advise it on working with the new administration in early 2017, around the time of Mr Trump's inauguration.

    Essential Consultants was the vehicle used to pay off Stormy Daniels (pictured left), a porn star who has alleged an affair with Mr Trump.

    The disclosure of AT&T's relationship with Mr Cohen is a bit of an embarrassment for the company as it awaits a US judge's decision on 12 June about whether it can go through with an $85bn deal to buy Time Warner.

  14. Barclays reduces Staley's 2016 bonus

    Jes Staley

    Some more quite interesting nuggets about the penalty for Barclay's chief executive Jes Staley in relation to his attempt to identify a whistleblower.

    On top of the FCA penalty of £642,430, Barclays is also going to reduce Mr Staley's 2016 variable pay - a form of bonus - by £500,000.

    Mr Staley's variable pay during this period was £1,318,000, on top of his basic pay of £2,350,000.