Summary

  • Chinese travel giant C-trip is to buy flight search website Skyscanner for $1.7bn

  • Chancellor Philip Hammond defends budgetary plans

  • Consumer credit 'rising at fastest rate for a decade' says BBA

  • Get in touch: bizlivepage@bbc.co.uk

Live Reporting

Tom Espiner and Daniel Thomas

  1. Brexit 'could cost $150bn'

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  2. Productivity puzzle still an enigma

    BBC Radio 5 live

    CrossrailGetty Images

    The potential impact of the UK's vote to leave the EU wasn't pretty - updated forecasts from the Office of Budget Responsibility predicted slower growth and higher government borrowing, which will jump by £112bn over the next five years. Nearly half of that is considered a direct result of the referendum.

    The national debt will now grow to almost £2tn by 2020, and by that time the OBR thinks the economy will be 2.4% smaller than if we'd voted to stay in the EU.

    Critics say the OBR is being too gloomy - but crucially, its predictions inform government policy.

    There was also a focus on productivity in yesterday's Autumn Statement, and announcements of a number of infrastructure investments.

    Laura Lambie of Investec says infrastructure funds "may go some way to addressing low capital investment, but remember, productivity, or the lack of it, can also be caused by lack of education, lack of skills, and weak management. There was no mention of how those issues are going to be addressed."

  3. Good morning

    As we draw breath after yesterday's excitement of the Autumn Statement, we've got results this morning from Gatwick Airport, Mothercare, Severn Trent and Hornby.

    Later on we'll have an Autumn Statement debrief from the Institute of Fiscal Studies, and a review of the financial stability of the eurozone by the European Central Bank.