That's all we have time for today at Business Live - thanks for reading. We are back at 0600 Wednesday - do join us then.
- US trade deficit at highest level in more than six years
- Australia cuts interest rates to a record low
- HSBC to make HQ decision 'in months'
- UBS reports surge in first quarter profit
News Corp, the publisher of newspapers including the Wall Street Journal and The Times, reported a slight fall in quarterly revenue to $2.06bn, hurt by the stronger dollar and dwindling advertising sales at its titles. However, net profit more than halved to $23m for the third quarter to 31 March, compared with the same period last year.
JetBlue will begin a weekly charter flight from New York to Havana on 3 July, the airline said on Tuesday. It is the first to announce a new flight to Cuba from New York since travel restrictions for Americans were eased recently. The service follows a recent trade mission to Cuba led by New York governor Andrew Cuomo.
Sacre bleu! French soldiers will soon be traversing the length and breadth of France in - wait for it - Ford pickup trucks.The New York Times reports that the army is buying 1,000 Ford Rangers to start replacing its Peugeot P4 jeeps that first went into service in 1983 and are becoming obsolete. While vehicles made by Citroën and Renault were considered, the Ford model was chosen as it is larger and can carry five people as well as a tonne of cargo.
At least two Pemex workers died on Tuesday as an oil maintenance platform tilted off Mexico's east coast, forcing the evacuation of 101 employees. The rig, owned by a contractor called Typhoon, is continuing to tilt in the Sound of Campeche area of the Gulf of Mexico, Pemex said. No details of how the workers died have been released.
Oil prices continued to climb on Tuesday following disruption of exports from Libya and higher prices for Saudi crude. US crude settled up $1.47 at $60.40 a barrel, after earlier hitting a high for 2015 of $61.10. Brent crude rose $1.10 to $67.55 in New York, after earlier hitting $68.40 - its highest for the year so far. Oil prices have risen by half in just over three months, after falling as low as $40 late last year.
Euronext has appointed chief operating officer Jos Dijsselhof as its interim chief executive. The former Royal Bank of Scotland and ABN Amro executive became chief operating officer of Euronext before its IPO in June 2014. Mr Dijsselhof will take over from Dominique Cerutti, who is joining consulting firm Altran Technologies as chairman and chief executive. Amsterdam-based Euronext operates stock exchanges and fixed-income and derivatives markets in Paris, Amsterdam, Brussels, London and Lisbon.
The European Union will announce a wide-ranging investigation on Wednesday into how big technology companies such as Google, Amazon and Facebook use their market power as it considers whether to regulate them more tightly. The inquiry follows calls from France and Germany for regulation of so-called "essential digital platforms", encompassing everything from e-commerce sites such as eBay to social media companies. European Commission Vice-President Andrus Ansip's "digital single market strategy" aims to update copyright rules, remove barriers to cross-border parcel deliveries and ensure that European online businesses can compete with their bigger US counterparts.
Roger Bootle from Capital Economics tells World Business Report the idea that there will be economic chaos after the general election is unlikely as long as "there isn't a very left leaning government" which he suggests would put the pound under some pressure. But he points out that Belgium managed perfectly well without a government for the better part of a year. "I have been amazed at how sanguine the markets have been about the general election," he adds. Mr Bootle says most observers would say the economy wasn't rocked by coalition government five years ago. Essentially, he says, markets understand that we have done this before and there is no reason why we can't do this again.
A fresh forecast shows a much brighter outlook for Europe. The European Commission has published its spring report on the eurozone economy. It suggests the eurozone will expand by 1.5% this year - 0.2 percentage points higher than previous estimates. But things in Greece are more problematic with growth of just 0.5% expected this year. Constantine Michalos, a businessman from Athens, told World Business Report that the new Greek government has made a number of promises to the Greek people and the hope is that it will be able to deliver on them. However, much hinges on Greece being able to reach an "honest agreement" with its European partners.
The European Commission is examining trade union allegations that McDonald's avoided paying more than €1bn (£737m) in corporation tax between 2009 and 2013. EU Competition Commissioner Margrethe Vestager said earlier that her office is "looking into the information gained by trade unions when it comes to McDonald's in order to assess if there is a case." A coalition of European and US unions claims McDonald's reduced its tax burden by moving its British headquarters to Switzerland and channelling money into a Luxembourg-based subsidiary with a Swiss branch.
Saudi oil minister Ali al-Naimi said he was "not worried at all" about the prospect of Iranian crude coming back onto the market if sanctions on Iran are lifted as part of an international nuclear dealin an interview with CNBC earlier today. He also blamed a higher authority for recovering oil prices. saying "No one can set the price of oil — it's up to Allah.". It comes as Brent crude hit a year high of $68 per barrel earlier - a 2.4% increase on the previous day. Brent crude has been rising steadily in the last couple of weeks as a result unrest in Yemen and rising concerns over supply.
It's the last day with the BBC for chief business correspondent Linda Yueh, who is returning to the UK from Singapore. Her final blog focuses on the future of business news, which she sums up in two words: global and digital. Read more from Lindahere.
AnEU court has ruled that Skype's name is too similar to that of satellite TV company Sky for a trademark to be granted for the video chat software. Microsoft, which owns Skype, says it will appeal against the decision.
A good day for Airbus: Colombian airline Avianca has confirmed an order for 100 A320neo aircraft. The order is the largest by a Latin American airline and worth about $10bn at catalogue prices. The new short-haul planes will operate from Avianca's hubs in Bogota, Lima and San Salvador.
Mike Lynch, who founded Autonomy and sold it to Hewlett-Packard in 2011 for $11.7bn, said the US company had failed to produce a "smoking gun" to back its claim that was behind a complex fraud to inflate the value of Autonomy. HP is suing Mr Lynch and the former Autonomy finance director Sushovan Hussain for about $5bn in damages. Lynch said the contents of HP's claim were "a simple rehash of previous leaks and insinuations that add up to one long disagreement over accounting treatment". "HP's claim is finally laid bare for what it is -- a desperate search for a scapegoat for its own errors and incompetence."
Sounds like Greece is ramping up the rhetoric against its lenders once more. A government official said on Tuesday that "serious disagreements" between the European Union and the International Monetary Fund are preventing Greece from reaching a deal with the two bodies. That has resulted in "red lines everywhere", the official said: "Against this background there cannot be a compromise. The responsibility belongs exclusively to the institutions and their weakness in coordinating."
Even more change on the board of Tesco in the wake of last year's overstatement of profits. Another two directors - Ken Hanna and Stuart Chambers - will both step down after the annual meeting on 26 June, having served for six and five years respectively. Mr Hanna - chairman of Inchcape and Aggreko - will be succeeded as chairman of the audit committee by Byron Grote, the former BP executive who joined as a non-exec on 1 May. Mr Chambers is chairman of ARM Holdings.
Volkswagen's supervisory board is in no rush to replace Ferdinand Piech, who quit as chairman last month following a public showdown with chief executive Martin Winterkorn, acting board chief Berthold Huber said on Tuesday. As you might expect from a German company, Huber told the annual meeting that the board would address the succession "with the necessary diligence and calm".
Helge Lund, chief executive of BG Group, said at the company's annual meeting on Tuesday that he welcomed Shell's $70bn takeover bid with "mixed emotions". The former head of Norway's Statoil took the BG job just two months before the Shell bid was announced on 7 April. "This is a strong deal for our shareholders," he said. "That said, you will understand that, from a leadership perspective, I do have slightly mixed emotions as I was looking forward to taking BG forward and a takeover was certainly not in my mind when I joined the company."
Matthew Garrahan, Financial Times global media editor, tweets: Disney planning special September "event" to launch new Star Wars toys. Probably a good day to take the kids for a long walk in the country.@MattGarrahan
Net sales at Kellogg, the world's biggest maker of breakfast cereals, have fallen by 5% to $3.56bn. Sales at the company's US morning foods business, which includes cereal, dropped by almost 3% to $776m. That slide helped push quarterly net profit for the maker of Corn Flakes and Rice Krispies down by nearly half to $227m.
Misery for millions of commuters in Germany on Tuesday after a strike by train drivers disrupted rail services. The industrial action by the GDL union began with freight services on Monday and is set to last as long as a week. Economists predict that the strike could cost up to €750m and cut second-quarter economic growth by 0.1 percentage points. The union wants a 5% pay rise and a two-hour reduction in the working week to 37 hours for rail workers.
Thanks indeed to Tom and Ben for this morning's coverage. Chris Johnston here until 2130 GMT to keep you up to date with the rest of the day's business news and views from the UK and beyond. Get in touch at email@example.com or on Twitter:@bbcbusiness
The US trade deficit in March was the biggest in more than six years, rising 43% to $51.4bn. Imports jumped 7.7% in March - the largest increase on record. That surge followed a labour dispute at major West Coast ports, which had held up imports in previous months.
Shares in Greene King are up 0.74% after the brewer and pub ownerreleased a trading update. For the 51 weeks to 26 April total sales growth was up 6.3%. At its pubs and restaurants like-for-like sales were up 0.4%, but would have been 0.8% higher had it not been for new drink-driving regulations in Scotland, Greene King says.
TheFTSE 100 is trading higher and still above the 7,000 level, despite losing some ground during the morning here in London. Coca-Cola HBC, Europe's biggest bottler and seller of Coca-Cola products, is leading the FTSE 100 higher with a gain of 3.4%. HSBC is one of the biggest losers, down 1.9% after its first quarter results.
Shares in German computer chip firmInfineon Technologies are up 2.4% in Frankfurt. That's after it raised its full-year sales target for the second time this year. The company has been helped by the weaker euro and the purchase of US rival, International Rectifier. Infineon expects a 36% jump in group revenue for the year to September.
The EU is considering an investigation into McDonald's' tax arrangements. "We are looking [at] if we should open a case on McDonald's" based on information supplied by unions, EU competition commissioner Margrethe Vestager said. The EU is already looking into the tax arrangements of Apple, Starbucks, Amazon and Fiat.
Ways to reduce Greece's debt can only be discussed after Athens agrees on a reform programme with its creditors, EU economic commissioner Pierre Moscovici says. "As to the debt... this issue can only be discussed after we have agreed a reform programme which I hope will be consistent, detailed, complete and which will make it possible for the Greek economy to recover... we hope that Greece is committed to that."
For all the hour-by-hour reports that talks between Greece and its eurozone creditors are going better (as is said to be the case today) or worse, the working assumption in the UK government (in its dying days) is that Greece will leave the euro."
ReadRobert's full blog post.
Walt Disney releases its second quarter numbers later today. Jez Frampton, global chief executive of Interbrand, says Disney is very good at tying in merchandising around movies. "You have to have a great story at the heart of it, which is really the success of Frozen, but then the way that they bring that into merchandising, into their stores, and of course into their parks as well, and how they cross-fertilise all that, is really part of the story of the Disney success."