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One of the advantages of Heathrow is that it is a transfer point for passengers heading elsewhere in the UK and the world.

John Strickland, independent airlines analyst says: "It's a fundamental part of airline's economics... transfer passengers make or break the performance of many of these routes."

"We have the variety of destinations we have today out of Heathrow because we are able to fill up seats when required from these transfer passengers."

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Vince Cable is the former MP for Twickenham and former Secretary of State for Business, Innovation and Skills.

He's against the expansion of Heathrow, saying it's trying to compete with Dubai which is in the desert and can "operate 24 hours a day".

Mr Cable has a long list of problems for Heathrow, including noise and air pollution. He wonders who is going to pay for it as there's a "massive bill for infrastructure" which the government has not committed to.

Mr Cable also questions where the extra staff are going to come from, given the government's clampdown on immigration.

Whitbread, the owner of Premier Inn and Costa Coffee, has announced an 8% increase in total sales for the first half of the year to £1.56bn. Profit rose 2.2% to £200m.

Both Premier and Costa won market shares, according to the company, external.

Travel writer for the Independent, Simon Calder tweets:

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Apple has its fourth-quarter results out this evening, when it's expected to give an update on sales of its recently released iPhone 7.

Markus Stadlmann, chief investment officer at Lloyds Banking Group, says that although sales of iPhones have slowed down this year, it's going to take a long time before they are replaced by something else. 

He adds that Apple's ecosystem - the money it makes from iTunes, iCloud and other services - is doing well and could help to fuel long-term growth.

Image source, AFP

India's media is busying itself today with speculation over why Tata replaced chairman Cyrus Mistry with his predecessor Ratan Tata.

They are interpreting the replacement as: a sacking, an ousting or even a coup.

The reasons? A clash in culture, disagreements over business practices and Mr Mistry's attempts to divest loss making units and focus only on the group's cash cows. 

Some in the media are speculating that Mr Mistry could in fact challenge his sacking in court which could make things a lot more nasty. 

Meanwhile, aged 78, Ratan Tata is not seen as a long-term solution to the company's leadership problem.

Investors are unsettled by the upheaval. Shares in the various Tata companies are all seeing losses on the Mumbai stock exchange. Tata Steel is down by 2.8%, Tata Power by 1.8, Tata Motors by 1.1%.

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Image source, Reuters

Tata, the giant Indian conglomerate and owner of Jaguar Land Rover and Tata Steel - yesterday replaced its boss.

What does this mean for the Tata's UK steelworks, which were put up for sale earlier this year? 

Yogita Limaye, BBC business correspondent in Mumbai, says at the moment it doesn't seem there will be an immediate decision on the future of the UK's biggest steel producer.

Ratan Tata has returned as interim chairman, and it was during his tenure that Tata Steel acquired all these assets in the UK.

But he is only going to be around for four months. "A decision of that great magnitude would perhaps be taken by the new person who takes charge," she says.

The Daily Telegraph leads, external with the airport story today.

It says Foreign Secretary Boris Johnson will voice his opposition "within hours" of a decision in favour of Heathrow.

Mr Johnson has long opposed the expansion of Heathrow. The Telegraph says that he will call the decision a "mistake".

The article also reminds us that other high profile Tories oppose the expansion of Heathrow, including Education Secretary Justine Greening. 

Zac Goldsmith the MP for Richmond Park is expected to resign and stand as an independent, over the issue, it says.

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Today's expected decision on airport expansion in the South East is "an important milestone but certainly not the end of the story," says one analyst who's followed the debate for many years.  

Douglas McNeill, senior transport analyst at Macquarie Investment Bank, says a year or more of consultation will follow the cabinet's decision, and then the legal challenges could come in. 

It is a policy area that's foxed successive governments, he tells Today. "It's going to take some political brilliance" for this administration to pull it off. 

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Britain's retail chains are closing 15 stores a day according to a report out today from PwC and the Local Data Company. It shows more than 500 outlets disappeared from high streets and retail parks in the first half of the year - the highest net decline in four years.  

Des Comerford is the founder of mens designer clothing store Fallen Hero, which is based in Scunthorpe.

The company went into administration in May 2014. 

It was hit by a collapse in footfall in Scunthorpe town centre, when Marks and Spencer pulled out in 2011. The number of shoppers was reduced by a third, he told Wake Up To Money.

He also complains that business rates are "the really big problem for retailers".

Image source, Getty Images

Japanese shares have risen on Tuesday, boosted by a falling yen helping the prospects of the country's crucial export sector. 

The Nikkei 225 was up by 0.7% at noon. 

In China, both the mainland Shanghai Composite and the Hang Seng in Hong Kong are currently trading flat. 

Australia's ASX 200 is up by 0.6% while the Kospi in South Korea is lower by 0.5%. 

Shares of Hanjin Shipping took another beating in Seoul, dropping as much as 7% at one point during early trade. 

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Jeff Alexander is executive director of Gatwick Diamond. He says Gatwick should get another runway.

"Gatwick has 50 long haul routes, 20 new routes in the last year. It is up there in the premiere league of international connectivity." 

The planning situation is easier at Gatwick he points out.

Might the government award runways to both airports?

"They're not going to brave enough to take that decision," says John Grant an aviation industry adviser. 

"It's a great shame because... Gatwick has done really well in terms of long haul destinations."

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Radio 5 Live has been speaking to people in Hounslow, the area around Heathrow Airport. Many locals seem to be in favour of expansion.

"It's noisy enough now. One more runway ain't going to make much difference," said one Hounslow resident.

Stephen Fry, the chief executive of Hounslow Chamber of Commerce, explains his support: "Growth, it's business, it's jobs," he says.

"Business in west London is fed up with waiting."

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Around lunchtime we're expecting the Secretary of State for Transport, Chris Grayling, to make an announcement to the House of Commons regarding the government's decision on airport expansion.

John Grant is an industry adviser to aviation data specialist OAG.

"They'll go for Heathrow," said Mr Grant. But even with the go-ahead he thinks it will take 15 years to complete the runway. 

"We've not got a great track record of large infrastructure projects happening quickly in the UK," he points out.

As a result he thinks Gatwick and Heathrow should both get another runway.

Ben Morris
Business reporter

Welcome to Tuesday's Business Live page. At last, after decades of debate, the government is due to make a decision over where to locate a new airport in the South East. We will bring you the announcement when it happens, plus analysis and reaction.