- Get in touch: email@example.com
- Hammond cuts 2019 growth forecast to 1.2%
- UK will grow 1.4% in 2020, as previously forecast
- Hammond to chair roundtable on minimum wage on productivity
- Borrowing to be £3bn less than forecast
- £37bn National Productivity Fund
- Landing paper cards to be ended for some countries
- £3bn for affordable homes
- Hammond: end of fossil-fuel heating systems in all new houses from 2025
- Free sanitary products in schools in England next year
- Audit committees to review late payments
- £100m for police to tackle knife crime
- No deal Brexit short-term hit to the economy says Hammond
- Hammond: Confident of Brexit deal
- UK to cut tariffs in no-deal Brexit
- CBI warns of "sledgehammer" to UK economy
- Carmakers attack tariff plan
- Copyright: Boeing
The grounding of the Boeing 737 Max aircraft by the FAA has been welcomed by air workers in the US.
John Samuelsen, international president of the Transport Workers Union of America, which represent aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
The Dow has closed up by 0.6%, and the S&P 500 and Nasdaq by 0.7% each.
Shares in Boeing experienced a volatile time after President Trump's decision to ground all of the 737 MAX aircraft.
But the share price ended the day 0.5% up to $377.12, putting it ahead for the first time in three days but still down nearly 11% since before Sunday's deadly crash in Ethiopia.
The Nikkei press agency is reporting that South Korean Airlines will be banned by the authorities from accepting delivery of Boeing jets if the US aircraft maker does nod satisfy questions over their safety.
IBM has been accused of using Flickr photos for a facial-recognition project, without the full consent of people in the images.
The company extracted nearly one million photos from a dataset of Flickr images originally compiled by Yahoo.
Many people pictured were probably unaware of how their data had been used,according to an NBC News report.
IBM said in a statement that it had taken great care to comply with privacy principles.
- Copyright: bbc
MPs have voted to reject leaving the EU without a withdrawal agreement.
Theresa May said there was a "clear majority" against a no-deal Brexit but the "legal default" was that the UK would leave without a deal on 29 March if no deal is reached.
MPs will now get a vote on delaying Brexit, said the prime minister.
That vote will take place on Thursday, and if it is passed - and the EU agrees to it - the UK will not leave the EU as planned on 29 March.
The government tabled a motion to prevent the UK from exiting the EU on 29 March without a withdrawal agreement.
But before MPs voted on that, they backed an amendment rejecting a no-deal Brexit under any circumstances - by just four votes.
This dramatic development led to the government ordering Conservative MPs to vote against its own motion.
But the government motion, as amended, was passed by 321 votes to 278, reinforcing the message that MPs do not want to leave without a deal.
MPs also voted by 374 to 164 to reject a plan to delay the UK's departure from the EU until 22 May, 2019 so that there can be what its supporters call a "managed no-deal" Brexit.
The US decision comes after Canada earlier in the day decided to ban the Boeing Max planes from its airspace.
Announcing the decision, Canadian transport minister Marc Garneau said he made his decision after reviewing "validated satellite tracking data suggesting a possible, although unproven, similarity in the flight profile of the Lion Air aircraft."
World Service economics correspondent
There has been some learned debate among legal academics on Twitter over whether the UK no-deal tariff proposals are compatible with World Trade Organization rules. One issue is the plan for special treatment – no tariffs - for goods crossing coming into the UK over the land border in Ireland. Similar goods entering elsewhere – Dover or Felixstowe for example – would be subject to any applicable tariffs. Does that violate the non-discrimination principle in WTO rules (known somewhat confusingly as Most Favoured Nation)? It might do, although there is some dispute among the lawyers. And then there is the plan to continue some EU actions against goods that are (allegedly) dumped or subsidised. A former WTO appeal judge says that would violate the requirement that these actions are taken only after the country concerned has done an investigation and shown that its own industry has been harmed. It won’t do if you just adopt the EU investigation. So WTO challenges in the pipeline on these points and potentially others? Could be. But also worth bearing in mind that the WTO’s dispute settlement system is currently on track to seize up completely in December. Unless some more appeal judges are selected it won’t have enough to hear cases and the US has blocked the recruitment process.
- Copyright: ReutersQuote Message: Southwest Airlines is immediately complying with today's FAA requirement for all U.S. airlines to ground the Boeing 737 MAX 8. As a result, we have removed our 34 MAX 8 aircraft from scheduled service. Southwest operates a fleet of more than 750 Boeing 737s, and the 34 MAX 8 aircraft account for less than 5% of our daily flights. To support our customers, Southwest is offering flexible rebooking policies. Any Customer booked on a cancelled MAX 8 flight can rebook on alternate flights without any additional fees or fare differences within 14 days of their original date of travel between the original city pairs
Sterling spiked to a high on Wednesday after MPs rejected a no-deal Brexit.
The pound hit $1.3270 and was up 1.5% against the dollar after the 312-308 vote, having traded at $1.3240 before the vote.
The pound was also up 0.9% against the euro.
- Copyright: Getty Images
Dennis Muilenburg, chief executive of Boeing says: "We are supporting this pro-active step out of an abundance of caution.
"Safety is a core value at Boeing for as long as we have been building airplanes; and it always will be. There is no greater priority for our company and our industry.
"We are doing everything we can to understand the cause of the accidents in partnership with the investigators, deploy safety enhancements and help ensure this does not happen again."
The House of Commons has voted by 312 to 308 to reject a no-deal Brexit, in a non-binding vote
- Copyright: American Airlines
American Airlines is working to rebook customers due to fly on Boeing 737 Max planes as quickly as possible after the US banned the aircraft, which has suffered two crashes in five months.
American, which has 24 of the 737 Max aircraft, was notified by the Federal Aviation Administration (FAA) of its decision to ground the jets earlier on Wednesday, it said in a statement.
- Quote Message: Boeing continues to have full confidence in the safety of the 737 MAX. However, after consultation with the US Federal Aviation Administration (FAA), the US National Transportation Safety Board (NTSB), and aviation authorities and its customers around the world, Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft’s safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft.
Donald Trump's announcement on the grounding of Boeing 737 Max 8 and 9 jets in the US comes after intense political and international pressure.
On Tuesday Democratic Senator Elizabeth Warren said: "Today, immediately, the FAA needs to get these planes out of the sky," Aviation authorities in Europe, China, Canada, Australia, Malaysia, Oman, Singapore and more, have barred the plane from their airspace.
On Wednesday at the White House President Trump told reporters: "We're going to be issuing an emergency order of prohibition regarding all flights of the 737 MAX 8 and 737 MAX 9,"
President Trump has said the US Federal Aviation Administration is to ground the Boeing 737 Max 8 and 9 aircraft following the crash of one of the jets in Ethiopia which killed 157 people on Sunday. Boeing shares fell some 2% on the news
- Copyright: UNITE
The fate of Interserve, and its 45,000 UK workers, is expected to be decided on Friday at a shareholder vote.
Unite assistant general secretary Gail Cartmail said: “Interserve workers and those in its supply chain are facing an uncertain and difficult future.
“Whatever the outcome of Friday’s vote, the government as Interserve’s largest client most step in to ensure that the workforce and the supply chain is fully protected and do not become the innocent victims of the company’s epic mismanagement.
“The predicament of the workforce has been made far worse by the government failing to learn the lessons of Carillion and bringing in new rules to better protect the workforce when companies collapse.
“What is unequivocally clear is that the current flawed outsourcing model is broken.”