That's all we have time for tonight on Business Live - thanks for reading. 

We are back bright and early tomorrow from 06:00 - do join us then.

That didn't last long: shares in Snap slid 12% to $23.77 - below the $24 offer price - following a cautious appraisal by an analyst at Needham & Co. 

The social media site had surged last week after floating in New York.

News at Ten editor Paul Royall gives us a rundown of tonight's bulletin on BBC1: 

Wall Street has ended lower, with banks suffering some of the biggest losses - giving back some of the ground they gained last week. Citigroup lost 1.2%, while JP Morgan shed 1%.

The S&P 500 fell 0.3% to 2,375 points; the Dow Jones industrial average dropped 0.2% to 20,954 points and the Nasdaq was 0.4% lower at 5,849 points.

No great surprise that PSA's deal to buy the European operations of General Motors is the splash in Tuesday's print edition of the Financial Times:

Image source, Getty Images

Ryanair is cancelling some flights on Tuesday due to a strike by French air traffic controllers.

The airline is contacting passengers to advise them of their options.  

"The strike may also affect flights overflying France and we expect some flight delays and possible further cancellations," it says.

Customers can check the status of their flight on Ryanair.com, external .

A former giant of German retail - Anton Schlecker - has gone on trial with his wife and two children over the collapse of his pharmacy chain that once employed some 50,000 people.

Mr Schlecker is accused of offences relating to the 2012 bankruptcy, and his family allegedly helped him. 

"The accusations are unfounded," he said through his lawyer in Stuttgart.

The businessman could be jailed for up to 10 years if found guilty.

Read more here 

Image source, Getty Images

BBC royal correspondent Peter Hunt tweets:

So-called "challenger" bank Shawbrook says it has rejected a 330p a share takeover offer.

The savings and lending bank - which was founded in 2011 - received a revised offer of £825m from Pollen Street Capital, which already owns 38.9% of Shawbrook, and BC Partners, at the end of January.

When that bid became public last Friday, Shawbrook shares leapt by 18%.

Shawbrook said tonight that the board was not prepared to recommend the offer and has rejected it.

Analysts suggest at 350p a share might be needed to win approval.

Shawbrook listed in London in April 2015 and is due to publish its results on Tuesday. 

BBC Radio 4

How does a can of Italian tomatoes reach the supermarket shelf and a car manufacturer receives its parts in time? 

On The Bottom Line on BBC Radio 4 Evan Davis finds out about the hidden transport networks that bring goods from around the world to our high street shops and factory floors.

BBC Radio 5 live

Image source, Getty Images

More now on PSA snapping up General Motors' European operations, including Vauxhall in the UK.

David Bailey is a car industry specialist at Aston University in Birmingham. He said Brexit could have a big impact on the Vauxhall plants.

"If we end up with a hard Brexit and we face tariff barriers in the industry, then that's going to mean 4% tariffs on flows of components,10% on final cars," he told the BBC. 

"Now if you look at Vauxhall at Ellesmere Port, 75% of the components are imported, 80% of the final cars are exported. That's going to be a big issue for them in the viability of that plant," he added.

More on the proposed takeover of Sky by 21st Century Fox, both of which are controlled by Rupert Murdoch, who also owns The Times and the Sun newspapers.  

In the Commons the Deputy Leader of the Labour Party Tom Watson questioned whether the deal would be right.

Image source, Reuters

The Secretary of State for Culture, Media and Sport, Karen Bradley, has once again said she's "minded to intervene" in the proposed merger between Sky and 21st Century Fox. 

She told the House of Commons she was considering all the evidence, but was concerned about the impact of the deal on media plurality and broadcasting standards.

The Geneva Motor Show continues and BBC business editor Simon Jack has been interviewing the chief executive of Volkswagen, Matthias Mueller.

He asked Mr Mueller what would say to the Prime Minister Theresa May as the UK approaches Brexit negotiations. 

"I'm not in a position to give advice to the Prime Minister," said Mr Mueller. "Of course, what is true is that we are committed to a united Europe politically and economically and we deeply regret that the UK has chosen to leave this community, will leave this community, and therefore we have to assess the situation soberly and then respond from there. 

Simon then asked him what any potential post Brexit imposition of tariffs under WTO rules would mean for the European car market.

"At the end of the day for the entire car market this is going to be difficult and it's difficult for our customers because... they will have to pay for that and, therefore, I'm wondering who will be the winners, the beneficiaries of these discussions," said Mr Mueller.  

"It's definitely a situation that we have to reassess when it crops up and we have to handle it from there," he added. 

Radio 4 PM

More on the news that BA is to cut legroom on short-haul flights ...

Travel expert Simon Calder says British Airways, which is part of the IAG group and includes Aer Lingus and Iberia, wants to standardise their aircraft, to make sure all their A320 planes have 180 seats.

Image source, Automobiles Peugeot

The 2017 Car of the Year has been announced at the Geneva Motor Show.

It is - Peugeot's new SUV, the Peugeot 3008, external ... 

Last year’s winner? The Vauxhall Astra ...

The secret design of the new London black cab is being tested in the Arctic Circle and the BBC's transport correspondent, Richard Westcott, got a peek at what it's all about. 

Image source, Getty Images

BA will soon have less legroom than Ryanair, reported the Daily Mail earlier today. It said the airline plans to cut the amount of legroom to 29 inches so it can add an extra two rows of seats on short-haul flights. 

The move, which will be on the Airbus A320 and A321 planes, will make space for an extra two rows of seats, accommodating 12 extra passengers. 

BA has responded to the reports, saying: "We will be flying to more than 78 short-haul destinations this year, with fares starting as low as £39. ​​ 

"So we can keep fares low, from next year we're making a small increase to the number of seats on our A320 and A321 fleet," it added. 

Today Programme
BBC Radio 4

Image source, Getty Images

More on that merger between Standard Life and Aberdeen Asset Management. 

Martin Gilbert, the boss of Aberdeen was on Today and he was asked why the two companies were coming together. 

"We're complementary businesses and in the world of asset management you really want to be either big or small and this makes us bigger which is better for our clients," he said. 

"It means that we can provide a much better service for them and we are complementary.

"Standard Life is very strong in solutions, we're strong in equities so the combination is a very very powerful global player, the biggest in the UK, the biggest active manager in Europe by revenues, hopefully able to compete against the very big US houses," he added.  

Image source, Getty Images

In London the  FTSE 100   closed down by 24 points or 0.33% at 7,350.12. 

The biggest riser was Standard Life - up by nearly 6% - following news that it had agreed a merger with Aberdeen Asset Management. 

Miners Glencore (down 3.27%), Anglo American (down 2.95%) and Antofagasta (down 2.2%) were all among the biggest fallers following a decline in copper prices. 

On the FTSE 350 Aberdeen Asset Management was up by 4.16%.