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Summary

  1. Get in touch: bizlivepage@bbc.co.uk
  2. Honda to close plant in Swindon
  3. Reckitt Benckiser profits up 11%
  4. FTSE slightly in the red
  5. Footasylum shares up 80% on JD Sports link
  6. McColl's profits more than halve
  7. Pearson sells courseware business for $250m
  8. BDO appointed to Flybmi
  9. Norwegian Air shares tumble

Live Reporting

All times stated are UK

  1. Goodbye!

    That's all for today. Join us tomorrow for more business news from 06:00.

  2. US car tarriffs

    Jonathan Josephs

    BBC business producer

    The US Commerce Department has sent President Trump its report on whether imports of cars and car parts pose a threat to US national security. He now has 90 days to take action, which could include tariffs that he has previously suggested would be 20%.

    The EU says it it “would react in a swift and adequate manner” if tariffs were imposed on it’s cars and Kristin Dziczek from the Center for Automotive Research says it there are new US cars tariffs there will be "ripple effects throughout the global industry" and it "will be very painful”.

    View more on twitter
  3. Honda closure 'unfortunate' - Fox

    International Trade Secretary Liam Fox

    Asked by the BBC about reports that Honda is to close its factory in Swindon in 2022, the International Trade Secretary Liam Fox said:

    "That would be very unfortunate but it's obviously premature to comment until we've actually heard what the company has to say."

    "Pressed on the fact that the company has already announced it will close the plant for six days in April for Brexit planning, the Secretary of State, who is on a visit to Israel and the Palestinian Territories to sign new trade continuity deals, said:

    "Car production in the UK has been very strong in recent years but we've seen with the diesel emissions, some of the rules coming in around that, there's been a big drop in demand. That big drop in demand by consumers is bound to have a knock on effect with producers."

  4. Suppliers will be hit by Honda departure

    As well as the 3,500 jobs in Swindon, thousands more jobs are under threat at companies that supply Honda.

    Consultant, Pernille Rudlin has a good breakdown of companies that could be affected. See her tweets:

    View more on twitter
  5. Brexit 'not the major reason' behind Honda's move

    Honda in Swindon

    "Honda in particular have struggled in Europe in recent years. The Swindon plant is currently producing almost half the cars it used to, not more than a decade ago," says James Atwood, deputy editor, Autocar magazine.

    "With Brexit there's an element of uncertainty, which car firms hate, but I don't think it is a major reason in this case," he added.

    Instead, Mr Atwood says a new Japan/EU trade deal will reduce the tariff on cars imported from Japan to almost zero, so making them in Japan is now cost-effective.

  6. Honda departure a 'shattering body blow' - Unite

    Honda worker

    Unite national officer for the automotive sector Des Quinn said: “If these reports are confirmed, this would be a shattering body blow at the heart of UK manufacturing.

    “The 3,500-strong workforce do skilled, well paid jobs that the UK can ill-afford to lose.

    “Business secretary Greg Clark needs to make an urgent statement on what the government intends to do to rectify this dire situation, if the reports prove correct.

    "It appears that the chickens are coming home to roost big-time because of Brexit uncertainty."

  7. Local MPs were confident about Honda staying

    Robert Buckland is the MP for South Swindon, where the Honda plant is based.

    Justin Tomlinson is the MP of the adjoining North Swindon constituency.

    Both are Conservative.

    Back in March of last year they seemed confident that Honda would keep its production in the UK.

    See this report in the Swindon Advertiser.

  8. BreakingHonda to close Swindon plant by 2022

    Honda Swindon

    Honda is planning to close its plant in Swindon by 2022.

    The move jeopardises 3,500 jobs.

    The company has not given any reasons for the closure, but we may get more details later this afternoon.

  9. City of Derry Airport hit by Flybmi collapse

    City of Derry Airport

    City of Derry Airport in Northern Ireland could be badly hit by the collapse of Flybmi because the airline operated its key route to London.

    The airport has told BBC Radio Foyle that it would be "challenging" for it to operate without a London route.

    A number of airlines are "interested" in taking on the Londonderry to London Stansted route after the collapse of Flybmi, City of Derry Airport said.

    Full story here

  10. Airline woes

    graphic

    There's more on the woes on the airline industry here.

    It's about fuel costs, green taxes, Brexit uncertainty, falling passenger numbers - and fierce competition

  11. More from BDO on Flybmi

    flybmi plane

    BDO has comfirmed that Flybmi operated 17 regional jet aircraft on routes to 25 European cities and that all flights were cancelled when the company ceased to trade on Saturday.

    It said the majority of Flybmi’s 376 employees across the UK, Germany, Sweden and Belgium have "regrettably" been made redundant, although some have been retained to assist administrators.

    Tony Nygate, BDO business restructuring partner, said: “As joint administrators, we are taking all necessary steps to ensure customers, staff and suppliers are supported through the administration process. Our job is to maximise recoveries and minimise distress for all parties, acting as smoothly and swiftly as possible".

    He points customers to the flybmi website for information about applying for a refund.

    "We are also working with the company’s employees to provide them with guidance on how to make a claim for monies which may be due to them. In addition, we are contacting suppliers to explain how to apply for monies owed to them," said Mr Nygate.

  12. BreakingFlybmi administrator appointed

    BDO has been appointed as administrator to British Midland Regional Limited which operated as Flybmi.

    Graham Newton, Tony Nygate, and James Stephen are the BDO partners involved in handling the administration.