BBC political editor, Laura Kuenssberg is at the British Chambers of Commerce conference. She tweets:

The BBC's Johny Cassidy tweets:

Image source, Getty Images

Business Secretary Greg Clark has said the UK should move towards paying workers a living wage, adding that "we will never win a race to the bottom on pay rates". 

"I know for some businesses it could be a challenge to absorb the increase... but I think it's the right way to go," he told the BCC conference.

"We need to move towards a higher wage but higher productivity economy."

He said the government would help firms boost productivity by investing more in skills development and R&D.

Firms are not obliged to pay the living wage, which currently stands at £8.45 per hour.

The BBC's Jonty Bloom tweets from the British Chambers of Commerce conference.

The Indian economy grew at an annual rate of 7% in the October to December quarter, which was faster than economists had been expecting.

European markets are broadly flat ahead of Donald Trump's much anticipated speech to Congress later. 

The FTSE 100 is up 0.01%, the CAC 40 is 0.05% higher, and Germany's Dax is down 0.15%.

Connor Campbell at SpreadEx says: "Everything is just a bit stagnant, investors not willing to make any major moves until Trump reveals what he has in store for the US economy."

Instead, the markets will have to make do with a few pieces of key data from the US, including a second estimate of fourth quarter GDP, which is set to be revised higher, from 1.9% to 2.1%.

Image source, Getty Images

Withdrawing from the Single Market would be the biggest "single act of protectionism" in the UK's history, former chancellor George Osborne has told the British Chambers of Commerce conference. 

"No amount of trade deals with [countries like] New Zealand is going to replace the trade that we do with our big European neighbours," he said.

He also said it was important the UK continued to access "skilled immigration" from around the world after Brexit and that it kept its doors open to foreign students.

Image source, Getty Images

Ahead of India's latest GDP figures out at noon, the OECD has praised the country's "remarkable" growth but said that it needed to be more "inclusive".

The Paris-based think tank said GDP per capita had risen by more than 5% per year since the mid-1990s, and 140 million had been lifted out of poverty in the past decade.

But it argued the poverty rate remained high, many still lacked access to electricity and sanitation, and spending on healthcare only amounted to about 1% of GDP.

India is currently the fastest-growing major economy and expected to expand 7.1% under Prime Minister Narendra Modi (pictured) in 2016-17. 

BBC technology correspondent Rory Cellan-Jones tweets:

The chief executives of the UK's biggest car and commercial liability insurers are due to meet Chancellor of the Exchequer Philip Hammond today, to complain about a change in the way compensation to seriously injured people is calculated.

That's according to the Association of British Insurers.

It says that motoring insurance premiums could see significant rises if the government goes ahead with a plan to change the discount rate applied to compensation payments.

Tuesday's announcement came from the Ministry of Justice.

Image source, AP

Last November the Indian government shocked the economy by scrapping more than 80% of the cash in circulation. 

Economists think that may have an impact on the growth figures for the October to December quarter.

It's estimated that growth could have fallen to 6.4%, a three-year low.

Figures are due at 12:00 GMT or 17:30 local time.

Image source, GKN

Defence shares have been popular in London today.

With a 5% gain, shares in GKN are leading the FTSE 100 higher. It reported better than expected profits, external and forecast further growth in 2017.

Meggit, which makes parts for cars and aeroplanes, is the biggest winner on the FTSE 250 with a 10% gain.

It reported a 13% rise, external in underlying profits and raised its dividend.

Investors are also betting that the defence industry will be helped by President Donald Trump, who announced plans to raise defence spending by 10%.

Other defence firms are also trading higher, BAE Systems is up 1.8% and Cobham is up 2.2%.

BBC News Channel

Millions of UK eggs will temporarily lose their free-range status after hens were forced to spend weeks inside barns as part of emergency bird flu measures.

Here, BBC presenter Ben Thompson explains how the labels on our egg boxes will change to reflect this.

BBC technology correspondent, Rory Cellan-Jones is at the Mobile World Congress in Barcelona. One gadget has already caught his eye.

Image source, St James's Place

Shares in wealth manager St James's Place are down 2.3% after the firm posted disappointing results and said its chief executive of 11 years would step down.

At £226m, 2016 operating earnings missed some analysts' estimates after the firm spent heavily on expansion into Asia. Profit before shareholder tax fell by about £10m.

Chief executive David Bellamy will leave his role at the end of 2017 but stay on in an advisory capacity. He will be replaced by current chief financial officer Andrew Croft.

Image source, PA

Shares in Go-Ahead have tumbled more than 13%, after the company lowered its expectations, external for annual profits.

It controls the troubled Southern Rail franchise through its Govia Thameslink Railway business (GTR).

It says that costs related to that contract could add up to an additional £15m.

The company also warned that there's been a slowdown at its bus division.

Image source, Moneysupermarket.com

Shares in Moneysupermarket have dived by as much as 10% this morning after a disappointing set of results.

The comparison site (famed for its controversial dancing man advert, pictured) posted a 12% rise in 2016 sales and 16% rise in post-tax profit. However its margins narrowed as it spent more on sales and marketing. 

It also warned that low interest rates "continued to weaken savings and current account switching" via the site, and that "group revenues are currently behind last year".

Today Programme
BBC Radio 4

At one point the Financial Ombudsman was receiving 12,000 complaints a week about mis-sold payment protection insurance (PPI), that has now fallen to 3,000.

But if a deadline is set for PPI complains - and there is talk of a June 2019 deadline - then there could be another surge says Caroline Wayman, the chief financial ombudsman.

"We think at the moment it might be the calm before the storm," she told the Today Programme.

If you want to find out how to claim for mis-sold PPI, there is more information here .