Apple's chief executive Tim Cook tells analysts that everywhere he looks he sees "significant opportunity".

He is confident iPhone sales will continue to growth in the current quarter.

The iPhone is seeing the highest rate of users switching from Android based phones, 30% of sales in the previous quarters came from so-called switchers.

He also cites the massive growth in the Chinese middle class.

He also talks about the $25bn "enterprise business" - or selling to corporations. He expects "significant actions" to deepen that business.

Apple says it has $205.7bn of cash. The chief financial officer says 91% of that is held outside the United States.

This from Apple chief financial officer Luca Maestri.

He mentions that sales of iPhones rose 120% on mainland China during the most recent quarter.

The average selling price of an iPhone was $670.

Sales of iPads fell to 9.9 million from 12.3 million in the same quarter in the previous year.

Image source, Getty Images

Apple chief executive Tim Cook has been holding a conference call following his company's fourth quarter results.

He reels off statistics that show just how massive and successful Apple has become.

Annual revenue in greater China has almost doubled compared to the previous fiscal year.

The company is on track to have 40 stores in China by mid 2016.

Sales of the Apple Watch were ahead of expectations in the quarter.

And the app store had a record quarter.

Marks and Spencer's website is offline. This is the company's explanation.

Wake Up To Money Presenter Adam Parsons tweets:

New York business reporter Michelle Fleury tweets:

Apple is providing the following guidance for its fiscal 2016 first quarter:

• revenue between $75.5 billion and $77.5 billion
• gross margin between 39 percent and 40 percent

In a statement with the results Apple chief executive Tim Cook said:

Apple sales jumped, external 22% to $51.5bn in its most recent quarter.

The company sold 48.05 million iPhones in the fourth quarter, which was slightly fewer than expected.

The company reported a net income of $11.1bn. 

Image source, AP

Shares in Twitter have tumbled in after hours trading after the company reported third quarter results, external.

Sales rose to $569m compared that's up 58% on the same period last year.

But investors were disappointed by the slow growth in active user numbers.

That figure increased to 320 million, up just 1.2% from the previous quarter.

Analysts said that the company's outlook for the fourth quarter was also a bit disappointing.

US shares closed with a modest loss. The Dow Industrials lost 0.24% to close at 17,581.

The S&P 500 was down 0.26% at 2,065.

The Nasdaq was little changed for the day, down 5 points at 5,030.

The Marks and Spencer website is down. We are investigating.

Image source, Getty Images

IBM says that federal authorities are investigating how the company accounted for some of its business transactions in the United States, the UK and Ireland.

IBM did not supply much in the way of detail, but said it found out about the investigation in August.

Its shares are down almost 4%.

Charles Read, Online Finance Editor at The Economist magazine says we shouldn't worry too much about the slowdown in the UK economy revealed by today's GDP figures.

On BBC News he points out that the service sector, which accounts for 80% of the economy, grew faster in the third quarter than the previous quarter. 

He also expects today's growth figure of 0.5% to be revised upwards in the coming months.

Mr Read says the biggest drag on the economy is the strong pound.

The European think tank, Bruegel tweets this:

Shares in the US are lower after investors were disappointed with company earnings results. Analysts say that further declines in crude oil prices are also to blame.  The Dow Jones and Nasdaq are down around 0.3%, and the S&P 500 is down almost 0.5%.

Shares of troubled Canadian drug company Valeant Pharmaceuticals rose on the support of a key shareholder - they are currently up around 1%. Shares fell 35% over the last week following a report questioning Valeant's relationship with a speciality pharmacy. Hedge fund owner Bill Ackman said he has swept up 2 million shares as their price fell in the aftermath of damning accusations from Citron Research in the US. Read more on the BBC Business site.

Image source, Getty Images

Rory has an update on the row over the broadband supplied to schools.

Here's part of the statement:

SABMiller plans to ask UK regulators to extend a deadline for AB InBev to make a formal takeover offer, according to Bloomberg, external.

Both sides want more time to discuss the deal with shareholders and assemble the financing, the report says.

The current deadline is 17:00 GMT on Wednesday. The Takeover Panel has already granted a two-week extension from the the original deadline of 14 October.