Business

As the clock ticked down towards 12.01am Eastern Standard Time on 12 March, Liam Bates kept refreshing his browser.

Heathrow Airport will remain shut until midnight after a large fire at a nearby electricity substation, disrupting travel for tens of thousands of passengers.

Government spending and borrowing have defied expectations, resulting in "perilous" public finances and placing pressure on the chancellor to raise taxes or cut spending.

Thousands of passengers are facing delays and cancellations after Heathrow, Europe's busiest airport, was forced to close following a fire at a nearby substation.

The closure of Heathrow Airport could cost millions of pounds, with travellers and goods grounded as Europe's largest airport is without power.

Ed Miliband said he is "not anticipating" cuts to GB Energy ahead of the chancellor announcing the biggest spending squeeze on Whitehall in years.

All flights to and from London Heathrow have been cancelled today due to a fire at a nearby electricity substation.

The chancellor's update on the economy next week is not going to be an emergency budget in its truest sense. But it will be a moment when the sirens flash red.

The Bank of England has kept interest rates on hold as it warned of growing economic uncertainty linked to Donald Trump's trade war. 

The Bank’s decision to hold rates did not come as a surprise but the vote was more unified than expected.