Well, that's about all we have time for today. Payday lenderWonga fell into the red, and Sky shares soared. And the Russian economy shrank 2%, which Russian Prime Minister Dmitry Medvedev said was due to the pressure of sanctions and the weak oil price. Join us tomorrow for more Business Live news.
- Consumer body Which? has demanded action over "confusing and misleading" supermarket pricing
- Greece has ordered its public sector bodies to hand over any reserve cash to help it meet an IMF payment
- Primark-owner Associated British Foods has seen pre-tax profits more than halve
Six US senators have asked the Federal Communications Commission and Justice Department to reject a $45bn merger of the country's largest cable firms, Comcast and Time Warner Cable. The call comes ahead of a meeting between Comcast and the Justice Department scheduled for tomorrow.
Two US distilleries - Buffalo Trace and Wild Turkey - were allegedly targeted in a massive theft led by rogue employees. Prosecutors say the criminal syndicate operated from 2008 or 2009, and that the recovered whiskey alone is worth at least $100,000 (£66,000).
Nine people have been indicted on charges of stealing what Kentucky authorities say was more bourbon whiskey than one person could drink in a lifetime. Prosecutors say the scheme, which was led by "rogue" distillery workers, lasted for years, and the haul was worth tens of thousands of dollars.
Greece's energy minister Panagiotis Lafazanis says Athens has held "constructive" talks with Alexei Miller, the head of Russian gas giant Gazprom (pictured right). Mr Lafazanis said he hoped the two sides would soon reach a deal on a pipeline that will bring Russian gas to Europe via Greece's territory. An advance payment is on the table. "The pipeline is of big interest to our country and is among our priorities... We are continuing talks with the Russian side and we hope to reach an agreement very soon," Mr Lafazanis said.
TheFTSE 100 has closed up 15.23 points at 7067.36, a 0.22% rise. Broadcaster Sky saw the biggest rise - more than 5% - after reporting a 20% rise in operating profit. Arm Holdings saw the second biggest rise on the market, up more than 4%, after reporting first quarter pretax profits up 24%. Associated British Foods saw the biggest fall, a drop of more than 4%, after it lowered its full-year earnings guidance.
The IMF has made a prediction that Spain's GDP will not return to pre-crisis levels until 2017, sending a message to the socialist government there. Last year, the Spanish economy grew 1.4%, and this year the IMF is forecasting 2.5% growth, while the Bank of Spain is talking about 2.8%. But the IMF thinks the current growth formula is not enough. Economy minister Luis de Guindos, on the other hand, thinks "Spain is now a role model."
Alexei Miller (pictured right), the head of Russian energy giant Gazprom, is in Athens for talks with Greek Prime Minister Alexis Tsipras. Greece is interested in the "Turkish Stream" pipeline that would carry Russian gas to Europe via its territory - with advance funds on the table for the cash-strapped country. Greece has said a deal would provide it with "a significant fiscal breath".
Sweden has claimed a world first after a plane was guided into land at Ornskoldsvik airport using a remote air traffic control tower. The plane flew from the town of Sundsvall to Ornskoldsvik, around 150 kilometres (95 miles) to the north. Both the take-off and landing were guided by the air traffic control tower in Sundsvall. Cameras and sensors collected real-time information at Ornskoldvik airport's remote tower, which was relayed to air traffic controllers in Sundsvall.
A Greek exit from the eurozone would be risky for the global economy, and financial markets have not fully priced in such an event, according to Jason Furman, chairman of the White House Council of Economic Advisers. "A Greek exit would not just be bad for the Greek economy, it would be taking a very large and unnecessary risk with the global economy just when a lot of things are starting to go right," he said in an interview.
Eurotunnel has fixed an earlier power supply issue, and all tunnels are now open, according to BBC transport producer Jonathan Sumberg. Service should be back to normal in around 90 minutes, he adds.
Eurogroup president Jeroen Dijsselbloem has said it is imperative to reach a deal with Greece within the coming weeks. Greece's money is running out, and a Greek exit of the eurozone would lead to dangerous instability for Greece and Europe, he said. A Greek exit of the eurozone is "not an option," he added.
European Commission President Jean-Claude Juncker has urged Greece to step up efforts to strike a deal with its EU and IMF creditors. "We are absolutely not satisfied with the course of talks so far. There is urgent need for greater efforts on the Greek side to be able to conclude this matter in our mutual interests," he told reporters.
Israel's Teva Pharmaceutical has made an unsolicited bid to buy generic drug company Mylan for $31bn in a transaction that would create a giant generic drugs firm. Teva's cash-and-stock bid would quash an unsolicited bid by Mylan earlier this month to acquire Perrigo for $28.9bn. Teva said its bid would give superior value for Mylan shareholders compared with Mylan's approach to Perrigo.
World Service Business presenter
Gannett, publisher of USA Today, reported a 5% rise in quarterly sales, helped by increased broadcasting revenue. Net profit rose to $112.9m (£75.8m) from $59.2m a year earlier.
Rate cuts by Sweden's central bank are having an effect and consumer prices are slowly increasing, Riksbank deputy governor Henry Ohlsson said. "Riksbank policy has had an effect and there are signs that inflation has bottomed out and is on its way up," he said. The central bank has cut its benchmark interest rate to a record low of -0.25 percent to cut the risk of deflation after two years of flat or falling prices.
The Pentagon's weapon supplierLockheed Martin has reported a drop in both sales and profits for the first quarter as the US cuts back on defence spending. The firm says sales fell to $10.1bn from $10.7bn a year ago, while net income was $878m, down from $933m. Despite the drop, the firm has edged up its earnings per share forecast for the year to between $10.85 and $11.15, up from an initial forecast of $10.80 to $11.10.
Harley Davidson admits it faced "its share of headwinds" in the first quarter. TheUS motorcycle maker has trimmed its forecast for the year, saying it now expects motorcycle shipments to grow 2-4% this year, down from its earlier forecast of 4-6%. In the first three months of the year, revenues fell to $1.67bn from $1.73bn a year ago, but profit rose slightly to $269.9m from $265.9m.
Industry correspondent, BBC News
Goldman Sachs sex discrimination case settled. "The parties have resolved the issues between them".
Industry correspondent, BBC News
The parties in a sex discrimination case involving the investment bank Goldman Sachs could be edging towards a deal. Evidence was due to be heard this morning at the Central London Employment Tribunal. But there's been a series of delays to proceedings. Sonia Pereiro-Mendez, an executive director at the firm, claims she lost out on pay, bonuses and promotion after she told her bosses she was pregnant. She is suing Goldman Sachs and three senior bosses at the bank. All deny the claims. A short time ago the firm told the judge that "the parties are in the process of resolving the issue"
Industry correspondent, BBC News
#Goldman Sachs sex discrimination employment tribunal delayed. Firm tells judge "the parties are in the process of resolving the issue"..
The baby market is a lucrative one for tech firms. Bluetooth dummies with hidden thermometers and an app that decodes why a baby is crying are the latest items to hit the baby market. "One day your grandchildren will be incredulous you survived the cradle without masses of technology", says Padraig Belton,whose feature takes an in-depth look at the latest baby must-haves.
The strong US dollar has hit chemical conglomerate DuPont. The US firmhas reported a 28% drop in first quarter profit, and says it expects the strong dollar to cost it 80 cents per share this year, up from the 60 cents a share it originally forecast. Sales also fell, dropping 9% to $9.17bn.
Fancy a free coffee? Well if you're extra friendly when you put in your order atPret then you might be in with a chance. The sandwich chain's boss Clive Schlee says staff give away a certain number of hot drinks each week. "They will decide 'I like the person on the bicycle' or 'I like the guy in that tie' or 'I fancy that girl or that boy'. It means 28 per cent of people have had something free. It's a nice, different way of doing it," he told the Evening Standard.
The pressures keeping theoil price low aren't likely to disappear anytime soon, if BP is to be believed. The oil giant has warned that while it expects supply and demand to balance out by the end of this year, large stocks of oil will continue to weigh on prices. "It could take as long again for that stock to come down," BP's chief economist Spencer Dale told the FT Commodities Global Summit.
Russian Prime Minister Dmitry Medvedev said the country's economy shrank by 2% in the first three months of the year following lower oil prices and sanctions on the country. "Negative trends continue this year," he told parliament.
Investor sentiment in Germany fell for the first time in six months, according to an index calculated by the ZEW economic institute. The index slipped by 1.5 points to 53.3 points in April, disappointing analysts' expectations for a further increase this month, ZEW said.
Having kitchens in their shops is a key selling point for Pret a Manger, says chief executive Clive Schlee. And 35% of people who join Pret get a promotion at some stage, which helps keep staff motivated and cheerful, he says. Pret has opened in Shanghai, which is "very different" to the UK market, he told Today earlier, not least because Chinese diners prefer hot food, sharing it and dining in.
Greek banking stocks have fallen again today. They have now halved over the past six weeks with investors afraid the country could eventually be forced to exit the single currency. An index of Greek bank shares fell 5.5%, pulling down Athens's main stock index.
chief market strategist at www.cityindex.co.uk
The jump in profits was towards the top end of market consensus and so this will re-affirm confidence amongst investors, particularly after the hefty sums paid by the broadcaster for rights to screen Premier League matches, which I estimate it overpaid for by around £1bn... Outside of the UK, Germany and Austria also saws solid growth rates which is encouraging... One concern I continue to have is on Sky's rising cost base and this remains an area the firm must keep a firm grip on.
The Financial Timesreports that the EU competition regulator will take Russia's Gazprom to task over its dominant position in the natural gas market. It's a bit of a gamble since the company likes to cut off gas in winter, says the paper. The Wall St Journal also carries the story. It further reports that Japan and the US are close to signing a free trade deal.
The Times's business section leads with the plight of Greek lenders after theFrench central bank warned the banking sector in Athens was close to collapse. Meanwhile, The Daily Telegraph reports on a survey that suggests most City workers would vote to stay in the EU in a referendum.
Wonga Exec Chair Andy Haste: "We know it will take time for us to repair our reputation and gain an accepted place in financial services"
Markets in both the UK and Europe have shrugged off fears over Greece with strong rises in early trading.The FTSE 100 is 0.6% higher at 7,097.61 boosted by satellite broadcaster Sky whose shares have risen 4.5% following its strong third quarter results. In Germany, the Dax is up 1.3% at 12050.59, while France's CAC-40 has jumped 1% to 5239.29.