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Insurance cover for self-driving cars must offer protection for both times when the driver is in control and when the vehicle is in charge, according to new proposals from the UK government.

The measures are outlined in the Vehicle Technology and Aviation Bill, external.

Ministers says they want to ensure it is easy for accident victims to claim compensation if a collision occurs when the cars are in automatic mode.

Insurers could still try to recover their costs from the vehicles' makers.

Read more.

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The FTSE 100 closed higher thanks to strong performances from Lloyds Bank and Unilever. 

The benchmark index gained 0.38%, or 27.42 points, to 7,302.25 points.

Unilever was the best performer, rising 4.96% after the company promised a new growth strategy following its rejection of a takeover bid by Kraft Heinz last weekend. 

Lloyds meanwhile gained 4.39% after announcing its profit for last year was up 158%.

The bank's figures were helped by a reduction in payment protection insurance provisions. 

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GM wants to finalise a deal to sell its Opel unit (which includes Vauxhall in the UK) to PSA within the next two weeks, the Press Association has reported, quoting sources. 

The pair apparently want to reach an agreement before the Geneva Motor Show, to prevent the proposed merger overshadowing their presence at the industry showcase on 9 March.

It comes amid fresh concerns that PSA - which owns Peugeot and Citroen - would scale back Vauxhall's operations after any deal, with analysts at Evercore ISI today claiming that the Ellesmere Port plant in Cheshire would likely close. 

Reuters has also reported that PSA hopes to generate cost savings of between 1.5 and 2bn euros from the proposed acquisition.

Vauxhall is a major employer in the UK, with around 35,000 staff, including 23,000 in its retail network and 7,000 in its supply chain.

On Monday, the business secretary, Greg Clark, told MPs that Vauxhall workers in Luton and Ellesmere Port had no reason to fear for their jobs.

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An international agreement forecast to boost global trade by $1 trillion (£800bn) a year has come into force.

The Director General of the World Trade Organization (WTO), Roberto Azevedo, called it "the biggest reform of global trade in a generation".

The Trade Facilitation Agreement (TFA) involves streamlining customs procedures.

Mr Azevedo said it would have a bigger impact than eliminating all existing taxes on imports, known as tariffs.

Read more.

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Commenting on today's Select Committee hearing on the gig economy, employment lawyer Sarah Ozanne questions whether the sector can ever be regulated in a way that pleases everyone. 

"Whether through altruism or because it senses a tax windfall, it is clear the government is serious about tackling the conundrum of when an individual is genuinely self-employed rather than a worker or employee,” says the CMC lawyer.

"The problem it faces is whether it is practically possible and beneficial to impose more certainty in this area." 

She adds: "To the many who enjoy flexibility of working hours and the employers whose business model relies on this, the present uncertainties are just fine. 

"It is the workers who depend on one source of income and the employers who yearn for control where conflicts arise and certainty is craved. The Select Committee’s findings may disappoint them.”

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Bosses from Uber, Deliveroo, Hermes and Amazon have told MPs they would have to reduce flexibility and offer less work if they were forced to offer greater employment benefits.

The Work and Pensions Committee is examining the welfare system's capacity to support self-employed workers in this sector.

Committee chair Frank Field said it was one-sided flexibility.

Some five million people work in the so-called "gig" economy.

Read more.

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Shares in GPS device-maker Garmin have soared after the firm posted stronger than expected quarterly results. 

Its stock is currently up 9% after it posted fourth-quarter profit of $132.4m - down from $210.2m a year earlier, but above analysts' expectations.

The firm also said its full year sales would beat estimates, thanks to growing demand in its outdoor, fitness, marine and aviation divisions.

It comes as rival fitness-band maker Fitbit is expected to post its first ever drop in revenue when it reports fourth-quarter results on Wednesday.

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The main US share indexes opened lower today after touching fresh highs on Tuesday. 

The Dow Jones is down 0.05% at 20,732.04, the S&P 500 is 0.19% lower at 2,360.92, and the Nasdaq has shed 0.23% to 5,852.47.

Strong performers include Wal-Mart and smartwatch-maker Garmin - up 0.87% and 9.2% respectively after stronger than expected results. 

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The Spanish owner of ScottishPower saw profits dive in its UK operations last year as 160,000 customers switched to other suppliers. 

Iberdrola, which recently announced a 7.8% hike to its standard tariffs, said customer numbers had fallen from 5.48 million to 5.32 million in 2016.

UK earnings slid 21.5% to £240.3m, driven also by falling energy prices, rising costs and customers using less electricity due to warmer weather. 

The group said ScottishPower's customer numbers had since bounced back. 

However, around 1.1 million customers will still be affected by its price hike, which takes effect on 31 March as part of a round of similar moves by energy firms following rises in wholesale energy costs.

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Marks & Spencer's tells the BBC just how much of an asset disabled staff can be to a business: 

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The former president of the European Council has warned that Britain faces a "Herculean" task to negotiate a free trade agreement (FTA) within two years. 

Once the UK formally tells the European Council it is leaving the European Union, it has two years to negotiate the terms of its withdrawal. 

However, Herman Van Rompuy said: "The negotiations will be large and difficult. No-one knows how long, but two years will not nearly be enough."

Addressing an audience at Chatham House, Mr Van Rompey said that after Article 50 is triggered - most likely at the end of March - 18 months will be mainly devoted to the separation treaty.

He said: "You can have some more informal talks about outlines of an FTA but real sectoral negotiations will only start after the UK has left."

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Richard Falkenhäll, senior currency strategist at Nordic bank SEB, believes the resilient performance by the UK economy reported today is unlikely to last, external.

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As we reported earlier, the Government is considering providing relief on business rates following an outcry from companies about planned increases.

Mike Cherry, chairman of the Federation of Small Businesses (FSB), has welcomed the move:

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The British farming industry contributed £46.4bn to the UK economy in 2015, according to a new report.

The study, commissioned by the National Farmers' Union, examines the importance of agriculture to the UK ahead of the country's exit from the European Union (EU).

It says Brexit will "bring about momentous change for UK agriculture" given the EU's importance in terms of imports and exports.

It also points out that the EU's Common Agricultural Policy has provided the framework for the British industry since the 1970s.

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Unilever is undergoing a review to deliver value to shareholders following the short-lived takeover offer from Kraft Heinz. 

In a statement, the consumer goods giant which makes Marmite, said: "Unilever is conducting a comprehensive review of options available to accelerate delivery of value for the benefit of our shareholders. 

"The events of the last week have highlighted the need to capture more quickly the value we see in Unilever." 

It added: "We expect the review to be completed by early April, after which we will communicate further."

Shares in Unilever rose 2.41% to £36.72.

More on the Treasury Committee's decision to hear evidence on business rates and the revaluation's impact on the economy.

Chairman Andrew Tyrie, who will write to the Chancellor about the issue, says: “The delay to business rates revaluations was bound to store up trouble."

He says there are two main areas of concern. Firstly, large, out-of-town premises may end up benefiting at the expense of smaller high-street businesses. 

Secondly, the rise in the cap on annual increases for larger premises was both large and unexpected.

He says: "The Chancellor has rowed back a bit. But the cap on the relief is still high. I will ask the Chancellor for the cost of restoring it to its previous level, and whether there is scope for more transitional relief.

Mr Tyrie adds: "The appeals procedure has recently been overhauled. It could turn out that the Government’s overhaul of the appeals procedure isn’t enough, or generate unfairness. But, it can’t be beyond the wit of man to find an appeals procedure that, without loss of fairness, is reasonably quick.”

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The head of the World Trade Organisation (WTO) seems to be taking the new US administration and its protectionist trade stance in his stride.

Roberto Azevedo said he is yet to have a conversation with the government about trade but said: "I am absolutely confident that other WTO members would like to engage in a constructive way to try to find a path forward like we always have."

"I don't think that we are facing anything that is unmanageable because different views and different opinions have been part of our work on a daily basis."

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The Government is considering providing relief on business rates following an outcry from companies.

At Prime Minister's Questions, Theresa May insisted there will be help for some of those people who are set to lose out by planned changes to the system of business rates.

Business rates are being reviewed for the first time in seven years to bring them into line with property values.

It is hoped the Government will outline measures to help struggling businesses when it announces the Budget on 8 March.