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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. UK inflation at highest level since September 2013
  3. Passengers on UK flights from six countries face restrictions
  4. Google promises greater protection for advertisers

Live Reporting

By Dearbail Jordan

All times stated are UK

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Goodnight

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BBC

That's it for Tuesday here on Business Live.

Join us bright and early tomorrow at 6.00am for all the latest business news and analysis.

US chocolate balls battle set to commence

Maltesers
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Mars is to start to sell Maltesers in the US, it's home market, after settling a legal fight with rival Hershey over the rights to the product name in 2015, the FT reports.

It may have a further fight on its hands, the article says: introducing chocolate brands into a market is tough as consumers tend to stick to about three products, often associated with childhood memories.

Hershey has its own malt balls brand, apparently, called "Whoppers'. Mars says its product was different in being "light and airy".

Mars has consistently marketed Maltesers as being "light".  Maltesers have 505 calories per 100g , or about a quarter of an adult's recommended daily calorie intake.

Driving the point home

Interesting that Uber has put forward three women - HR chief Liane Hornsey, board member Arianna Huffington, and Rachel Holt, regional general manager US & Canada - to field calls on inclusion and diversity at the taxi business.

Nike profits disappoint

nike basketball trainers
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Nike, the world's largest footwear maker, reported lower-than-expected quarterly revenue on Tuesday, hit by a strong dollar and intense competition from Adidas and Under Armour.

Shares in the company were down 1.4% in after-market trading after Nike posted profits rise to $1.14bn, from $950m in the same three months last year. Revenue climbed 5% to $8.43bn.

However, analysts had expected more.  Nike and its Jordan brand have been dominant in the US footwear market, but a resurgent Adidas and Under Armour have been gaining ground by revamping their under-performing brands and tying up with supermarket chains. 

Wall Street: banks lead shares lower

Wall Street share traders
Reuters

Wall Street fell as investors fretted about whether President Donald Trump will be able to deliver promised tax cuts that have propelled share markets to record highs in recent months.

The S&P 500 and Dow Jones indexes fell more than 1%, with the S&P financial sector index sinking 2.87%, its biggest daily fall since June. Bank of America fell 5.77% and Goldman Sachs fell 3.72%.

At the closing bell, the Dow Jones was 1.14% lower at 20,668.01 points, while the S&P 500 lost 1.24% to 2,344.02. The Nasdaq fell 1.83% to 5,793.83.

The CBOE Volatility index, Wall Street's so-called "fear gauge", jumped 10%.

Arianna Huffington defends Uber

Arianna Huffington
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Earlier today Arianna Huffington, who is a board member of Uber, told CNN that sexual harassment at the company is not a "systemic problem" at the company though there are "unquestionably" some individuals who are exceptions.

She said: "...what is important is the structures that were not in place are now being put in place to make sure women, minorities, everyone feels completely comfortable at Uber."

A blog written by former Uber engineer, Susan Fowler, described sexual harassment that she and other women had experienced and the company's woeful record of dealing with the issue.

Uber boss understands 'importance of a partner'

Travis Kalanick
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Looks like Uber has really been jolted following the departure of its president Jeff Jones .

Commenting on Uber's search for a chief operating officer, HR boss Liane Hornsey says: "This is the first time that Travis [Kalanick, chief executive] has really understood the importance of having a partner."  

Uber: individual is more important that the team

Uber
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Uber's Liane Hornsey says that changes at the taxi sharing company will "not be top down" so chief executive Travis Kalanick will be staying put. 

She says: "We need to expend genuine effort that individual is more important than the team, that everyone can be heard."

Uber was focused on 'business not staff'

Uber's chief HR officer Liane Hornsey says that the company's boss, Travis Kalanick, has given her "full license" to do the report on diversity.

She says that Uber's focus was "on the business and not the employees". 

Uber to report on 'diversity and inclusion'

Uber
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Uber is going to publish a report on diversity and inclusion by the end of the month, according to the taxi service's HR chief Liane Hornsey

The car-sharing service has been hit by a series of scandals.

Most recently its president Jeff Jones stepped down after just six months , citing his differing beliefs with a company that has been accused of failing to deal with sexual harassment claims , whose boss Travis Kalanick was recorded swearing and shouting at one of the company's drivers as well as stream of management departures.

Italy waves the flag for free trade

Shinzo Abe (L) and Paolo Gentiloni (R)
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Italy's Prime Minister says that he wants to send a clear message about free trade when leaders of the G7 nations meet in May.

The country is hosting the gathering in Sicily on 26-27 May and Paolo Gentiloni said: "It's our hope that the G-7 in Taormina will send a message about the importance of international trade and against every protectionist temptation."

Mr Gentiloni was meeting with Japan's Prime Minister Shinzo Abe, who recently visited US President Donald Trump who pledged to put "America first" during his election campaign.

Mr Abe said: "Japan and Europe must collaborate with the United States to continue to hold high the free-trade flag."

Time for gin

People all over the world joining in a "ginaissance".

The BBC's World Business Report explores the London Gin Festival where connoisseurs can buy a bottle of the spirit made out of ants.

View more on twitter

Fiat's responds to emission claims

Fiat Chrysler Automobiles' (FCA) says: FCA takes note of the determination of the public prosecutor to carry out further investigations on certain alleged consumer protection violations in connection with the sale of diesel vehicles.

"FCA reiterates once again that its diesel vehicles fully comply with applicable emissions requirements, as confirmed by the sole competent authority as to FCA homologations, which is the Italian Ministry of Transport.

"FCA will continue to cooperate to any investigations by competent authorities and remains fully confident that the matter will be clarified in due course."

French prosecutor opens investigation into Fiat diesel claims

Fiat logo
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A public prosecutor has opened an investigation into Fiat Chrysler over claims the car-maker cheated in diesel emission tests.

The Paris prosecutor opened the investigation on 15 March after a government watchdog referred the case to the courts, a judicial source told Reuters.  

A Fiat spokesman pointed out that the allegations were not new and had been referred to the Public prosecutor in early February - news that was made public at the time. 

He said the company would continue to cooperate with the authorities and was confident the matter would be fully resolved. 

Expert questions timing of flight electronics ban

Bruce Schneier, a security expert, has questioned the timing of the Trump administration's flight electronics ban.

He  told The Guardian : "There are no new technological breakthroughs that make this threat any more serious today. And there is certainly nothing technological that would limit this newfound threat to a handful of Middle Eastern airlines."

Officials from the Trump administration have said the ban is not based on any specific or imminent threat, according to the New York Times.

However, the Department of Homeland Security cited the attempted downing of  Daallo Airlines Flight 159  last year as the sort of threat the ban is designed to counter. This saw a terrorist manage to sneak a "sophisticated laptop bomb" past X-ray scanners in Somalia. 

Experts question US in-flight electronics ban

Ethiad plane
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Experts have been questioning whether the US ban on some electronic devices on in-bound flights from certain countries will actually work. 

David Gomez, a retired FBI counterterrorism expert,  tweeted that the ban "ignores the realities of terrorist behavior" because passengers could simply fly to Paris, Amsterdam or other destinations and switch carriers" to reach the US.  

Paul Cruickshank, editor-in-chief of the Combating Terrorism Center Sentinel at West Point, said that if a bomb could escape detection in cabin luggage, it could escape detection in stowed luggage, too.

The Trump administration is "yet to explain why laptops will be allowed in hold but not cabin in new ban," he said. 

Politics 'take centre stage' for stock markets

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The US stock market is having one of the worst days since Donald Trump was elected as US President last November. 

Mark Kepner, managing director at Themis Trading says: "You have this back and forth in Congress with the new healthcare plan and you have this belief that if the healthcare plan can't pass then they can't move on to taxes. There's this feeling that if things don't get done then maybe what the market has been anticipating gets held up."

Andrew Frankel, president at Stuart Frankel & Co, says: "Politics is center stage. It's running the market. If the market rallied on Trump's pro growth policies and they're in question then the market has to give something back."

He adds: "The market is trying to price in what setbacks they'll have on tax reform and deregulation."

US stocks fall on Trump tax doubts

Donald Trump
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US stocks plunged on Tuesday on fears that US President Donald Trump may not be able to follow through on promised tax cuts .

The Dow Jones industrial average tumbled 190.66 points to 20,715.20 as traders took stock of the new US administration's recent struggles to unite the Republican party behind healthcare reforms. 

Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management, told Reuters: "Republicans should have prioritized tax reform ahead of healthcare reform. They're coming across as a motley crew rather than a party that can get things done."

Nasdaq also traded lower , down 79.85 points, or 1.3% at 5,821.68. The S&P 500 fell 24.85 points at 2,348.62.

Think about the parents!

How will Mum and Dad keep the children busy on long flights without electronic distractions following on-board restrictions introduced by the UK and US ?

View more on twitter

Miners drag on FTSE 100 to close lower

Stock market trader
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In a brief interlude from airline-related news... the FTSE 100 closed down 51.47 points at 7,378.34.

Miners dominated the day's biggest fallers, led by Glencore whose shares fell 4.24% to 330.10p. It was followed by Rio Tinto, down 4.12% at £33.27 and BHP Billiton which fell 3.9% to £12.83.

However, one miner - precious metals specialist Fresnillo - topped the biggest risers with its shares up 1.64% at £15.53, underpinned by a strengthening in the gold price.

Canada 'considering' on-board restrictions

Canada's Transportation Minister said it is considering introducing restrictions on some electronic devices being allowed on in-bound flights from certain countries. 

Marc Garneau said: "We are looking at the information that has been presented to us, we'll look at it carefully and have a fulsome discussion among our colleagues."

He said "The [threat] information has been provided to us by other intelligence communities."

Mr Garneau said he will hold discussions with the Canadian Public Safety Minister Ralph Goodale and "we'll make that public when we make a decision."

BA tells customers to 'arrive in good time'

BA
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British Airways says: "Following an announcement by the UK Government we are advising customers departing from affected airports to arrive in good time at check-in and to refer to ba.com." 

'Robust aviation measures'

House of Commons
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The Department for Transport says: "The UK has some of the most robust aviation security measures in the world and at all times the safety and security of the public is our primary concern. We will not hesitate to put in place measures we believe are necessary, effective and proportionate."

It adds: "We understand the frustration that these measures may cause and we are working with the aviation industry to minimise any impact. Our top priority will always be to maintain the safety of British nationals. These new measures apply to flights into the UK and we are not currently advising against flying to and from those countries ."

Government outlines banned on-board devices

The Department for Transport says that phones, laptops and tablets that are larger than 16cm in length, 9.3cm in width and 1.5cm in depth are "not allowed in the cabin on flights to the UK from Turkey, Lebanon, Egypt, Saudi Arabia, Jordan and Tunisia".

Read the full statement here .

BreakingUK lists countries impacted in device ban

The UK has introduced restrictions on carry-on electronic goods on direct inbound flights from Turkey, Lebanon, Jordan, Egypt, Tunisia and Saudi Arabia for the safety of the public, a spokesman for Prime Minister Theresa May said on Tuesday.

The US imposed similar restrictions on planes coming from 10 airports in Muslim-majority countries in the Middle East and North Africa in response to unspecified security threats.

"Direct flights to the UK from these destinations continue to operate to the UK subject to these new measures being in place," the spokesman told reporters. "We think these steps are necessary and proportionate to allow passengers to travel safely."   

BreakingUK announces on-board device ban

The UK has announced a cabin baggage ban on laptops on passenger flights from six Middle East and North African countries.  

Read the full story here .

Eurozone nations 'spent money on drink and women'

Jeroen Dijsselbloem
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The head of the Eurogroup seems to be in an outspoken sort of mood.

Jeroen Dijsselbloem, the Dutchman who leads the group of eurozone finance ministers, claimed to a German newspaper that indebted nations who use the single currency spent their money on women and alcohol. 

He told Frankfurter Allgemeine Zeitung: "One cannot spend all the money on drinks and women and ask for help."

Mr Dijsselbloem's presidency of the 19-nation group ends in January 2018.

One wonders if he'll stand again? Good luck with that.

BreakingCantering to a halt

Workers on Southern, Merseyrail and Arriva Trains North will strike on 8 April, according the RMT union.

It also happens to be the day of the Grand National. 

Is inflation all down to Brexit?

Kamal Ahmed

Economics editor

Televisions have increased in price
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It was Harry S Truman who famously pleaded for a one handed economist, so tired was he of proponents of the dismal science saying "well, on the one hand, sir... but on the other..."

Sadly for the 33rd President of the United States, you would need a lot of hands to explain today's surprisingly rapid increase in inflation.

Rising global commodity prices are pushing up inflation pressures around the world.

As global growth strengthens, that upward pressure is likely to increase.

Read more here.

Emirates: US device ban in place until October

Emirates
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Reuters is reporting that an Emirates spokeswoman says that the US in-flight electronics ban will run from 25 March "and is valid until 14 October".

A spokeswoman for the US Department of Homeland Security (DHS) said that date is "a placeholder for review" of the rule.

In a Q&A , the DHS had said: "The new procedures remain in place until the threat changes . These are risk-based decisions and TSA (Transportation Security Administration) continuously assesses security risks and seeks to balance necessary security requirements with their operational impact on the industry."

Qatar Airways 'makes arrangements' for flyers

Qatar Airways
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Qatar Airways, one of the nine Middle East airlines affected by the ban on large electronic devices on flights to the US , has issued a travel alert to passengers.

It says it has "made special arrangements to assist passengers in securing their devices in the aircraft's baggage hold.''

The UK is expected to follow the US's lead in stopping people from carrying any electronic devices bigger than a mobile phone on board flights to America from ten selected airports.

Full up-to-details can be found here .

Etihad Airways confirms US electronics ban

Etihad Airways
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Etihad Airways has responded to the ban of electronics on some flights to the US from the Middle East. 

The Abu Dhabi airline says: "Following a directive from US authorities affecting selected airports, Etihad Airways has been advised that guests travelling to the United States from Abu Dhabi International Airport are not permitted to carry electronic devices larger than a cell phone or smart phone in the cabin. 

“Mobile phones and medical devices are permitted but larger items such as laptops, tablets, cameras and e-readers will need to be placed into checked-in baggage.  For those guests bound for the US, this must be done at the point of origin which may not necessarily be at Abu Dhabi International Airport.  The new rules come into effect for those US-bound flights departing Abu Dhabi on 25 March."

It adds: "Safety and security remain the highest priority for Etihad Airways and we will continue to assist passengers in complying with this directive."

Apple's giant leap

Apple Clips
Apple

Among a flurry of new product updates, including a very lovely limited edition iPhone 7 , Apple has just unveiled an app called Clips.

This which allows people to combine video, photos and music into short "clips" (geddit?) which they can then upload and share across social media if they wish.

While Clips is a video editing app, the comparisons to SnapChat are going to be pretty hard to avoid. 

But it does follow the strategy set out by Apple's chief executive Tim Cook.

He told The Independent recently that he believes augmented reality - technology that is layered on a user's view of the world - is going to be "huge".