Summary

  • Vauxhall owner 'not shutting plants'

  • Jaguar Landrover boss 'worried' over Brexit

  • German industrial orders fall

  • UK non-food sales fall says BRC

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

  1. Discounters continue to eat into grocery marketpublished at 11:16 Greenwich Mean Time 7 March 2017

    Lidl logoImage source, Getty Images

    Over the past twelve weeks Lidl was the UK's fastest-growing supermarket, with sales up 13%, and Aldi grew almost as quickly, according to data from analysts Kantar Worldpanel.

    Out of the big four supermarkets, Morrisons sales increased by 2.6%, its fastest growth in five years. Tesco sales also rose - but its market share continued to erode.

    Price inflation doubled compared with last month, but were not dramatic in a longer-term context, Kantar Worldpanel said.

  2. Investors bet against Paddy Power Betfairpublished at 10:48 Greenwich Mean Time 7 March 2017

    Cheltenham FestivalImage source, Getty Images

    Shares in Paddy Power Betfair are down almost 5%.

    The bookmaker, which is preparing for next week's Cheltenham Festival, reported a loss for last year, due to costs related to the merger of Paddy Power and Betfair.

    Analysts at Liberum said results for the final three months of last year were "disappointing" and said the company might find it difficult to generate growth.

    "It seems likely that operational challenges will continue around the performance of cross-sell to sports customers and the investment required to stimulate growth," Liberum said in a research note. 

    It said shares were "richly" valued.

  3. Tariff-free Brexit 'really important' for Ford's UK jobspublished at 10:11 Greenwich Mean Time 7 March 2017

    Ford logo DagenhamImage source, Getty Images

    The boss of Ford's European operations, Jim Farley, says barrier-free trade is vital for the firm's more than 14,000 UK workers.

    "For the future of those employees and for customers in the UK, a zero-tariff environment is really, really important," he said at the Geneva motor show. "We will continue to insist that a zero-tariff environment is key for the future of those employees at Ford."

  4. Aggreko shares fall after profit warningpublished at 09:56 Greenwich Mean Time 7 March 2017

    Aggreko logoImage source, Aggreko

    With a 12% slump, shares in temporary power provider Aggreko are the biggest fallers on the FTSE 250, after the firm said it expected pre-tax profit would be lower in 2017.

    Aggreko said that discounting contracts in Argentina would eclipse growth elsewhere in the group.

  5. BMW 'needs tariff-free trade'published at 09:51 Greenwich Mean Time 7 March 2017

    Simon Jack
    BBC Business Editor

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  6. GMB union to start more gig economy legal actionpublished at 09:50 Greenwich Mean Time 7 March 2017

    The GMB union is to start legal action against courier firm DX over holiday pay and the minimum wage for people on contract.

    "Legal action will be taken to secure rights on pay, holidays, health and safety, discipline and grievances on behalf of members who work as couriers and drivers for DX," the union said.

    In October Uber drivers won the right to be classed as workers rather than self-employed after an employment case brought by GMB. 

  7. Video: Vauxhall and Opel plants 'not shutting'published at 09:40 Greenwich Mean Time 7 March 2017

    Media caption,

    New Vauxhall boss says plants are not shutting

    The chief executive of the new owner of Vauxhall and Opel has said that he will not be shutting plants. Carlos Tavares, the chief executive of PSA Group, explained why to BBC Business Editor, Simon Jack at the Geneva Motor Show. 

  8. VW unveils self-driving car called 'Sedric'published at 09:31 Greenwich Mean Time 7 March 2017

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  9. All-electric 'hypercar' at Geneva motor showpublished at 09:28 Greenwich Mean Time 7 March 2017

    Theo Leggett
    BBC Business News Reporter

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  10. Vauxhall's uncertain road ahead beginspublished at 09:21 Greenwich Mean Time 7 March 2017

    Simon Jack
    BBC Business Editor

    Vauxhall carsImage source, Getty Images

    Carlos Tavares, the man who will determine the future of Vauxhall workers, downplayed the threat to more than 4,000 Vauxhall workers - but he chose his words very carefully.

    The head of PSA insisted that the new combined company would have an opportunity to set new internal benchmarks for performance.

    They will allow plants to be compared and improve.

    Production commitments expire in 2021 for Ellesmere Port and 2025 for Luton.

    Read more of Simon's blog here .

  11. 'If you become the best, there is no risk'published at 09:10 Greenwich Mean Time 7 March 2017

    Carlos Tavares, PSA Group chief executive

    Mr Tavares has a message for the European plants that he has bought from GM.

    "What is striking in Europe... is that everybody is asking for protection."

    "The only honest answer for protection is peformance, if you increase your level of performance, you become the best, if you become the best there is no risk. "

    "We can become better by sharing the best practices, having the best benchmarks inside the company and if we are better, with the export opportunities we have, we can fully use our manufacturing footprint."

  12. Vauxhall owner: Brexit may bring 'opportunities'published at 09:06 Greenwich Mean Time 7 March 2017

    More from Mr Tavares. He says that if the UK was to have a hard Brexit - that involved tariffs and customs delays - "it would be an opportunity for us" to source more products from the UK.

    But he, points out, for that to happen the supplier base would need developing in the UK.

  13. Vauxhall owner: 'Not shutting plants'published at 08:52 Greenwich Mean Time 7 March 2017

    Carlos Tavares, chief executive, PSA Group

    The new owner of Vauxhall and Opel has been speaking to the BBC. He says that plants are unlikely to close because they are busy.

    Carlos Tavares, PSA chief executive said: "We are not talking about shutting down plants. Why? Because if you look at the situation, look at the PSA Group today, our capacity utilisation rate is 98%."

    He points out that Vauxhall is operating at 82% capacity, which is pretty good.

    Mr Tavares thinks that there is huge potential. "For many, many, years Opel Vauxhall could not export cars outside of Europe, that was something that General Motors didn't want them to do. PSA is going to unleash this potential."

  14. Listen: Jaguar Land Rover chief says 'we need free trade' from Brexit published at 08:49 Greenwich Mean Time 7 March 2017

    Today Programme
    BBC Radio 4

    Media caption,

    Jaguar Land Rover CEO voices concerns about how Brexit will affect business

  15. Miners push up FTSE 100published at 08:30 Greenwich Mean Time 7 March 2017

    The FTSE 100 is 0.1% higher at 7,357.2 in early trading with help from shares in mining firms.

    BHP Billiton and Rio Tinto are both up more than 1%. 

    Paddy Power Betfair is down 1.5% after releasing a trading statement.

  16. Just Eat shares rise after profits boostpublished at 08:13 Greenwich Mean Time 7 March 2017

    Just Eat shares have risen more than 4% in early trading after the takeaway delivery app firm reported a 164% rise in profits before tax for the year.

    The firm wants to expand more abroad, it said in its results.

  17. Jaguar Land Rover boss 'worried' over Brexitpublished at 08:02 Greenwich Mean Time 7 March 2017

    Today Programme
    BBC Radio 4

    Jaguar Land RoverImage source, Getty Images

    "I'm worried absolutely," says the boss of Jaguar Land Rover, Ralf Speth when asked if he is worried about the effects of Brexit on his firm. 

    "At the end of the day I feel really responsible for our employees... we have more than 40,000 employees in the UK."

    He also points out that Jaguar Land Rover generates another 300,000 jobs in the supply chain.

    However, he says it doesn't make sense to speculate on the safety of those jobs, until we have a better idea of what Brexit will look like.

  18. Just Eat profits jumppublished at 07:58 Greenwich Mean Time 7 March 2017

    Just EatImage source, Fergusburnett.com

    Online takeaway food delivery app firm Just Eat has said profit before tax rose 164% to £91.3m in 2016.

    "In the UK, we continued to drive strong growth in orders [and] revenues... and saw the market for delivered takeaway food expand to £6.1bn... ensuring plenty of room for further growth," said outgoing chief executive David Buttress.

    Chairman John Hughes said: "While the UK remains our largest market, we are excited by the growth we are seeing in our international businesses. The majority of these markets are much less penetrated than the UK and therefore represent significant opportunity for the group."

  19. More than 30 Budgens stores to closepublished at 07:50 Greenwich Mean Time 7 March 2017
    Breaking

    Food Retailer Operations Limited (FROL) has gone into administration. The company operates 34 Budgens convenience stores in the UK. 

    The stores employ 815 staff. 

    FROL only bought the stores from Co-op in July 2016.

    Mike Denny, joint administrator at PwC, said: “Unfortunately, we have been unable to find a buyer and it is not commercially viable to continue trading the stores."

  20. German industrial orders fallpublished at 07:36 Greenwich Mean Time 7 March 2017

    German industrial orders fell 7.4% in January according to preliminary official data. 

    That fall follows a strong increase in December. 

    However the economy ministry said in a statement: "Industrial orders were extremely influenced by large contracts in the last two months reported (December and January)."