our business editor simonjack reports. grounded for good. be out of the air before putting an end to nearly 50 years of flying. one man was due to fly to the canary islands with 30 friends and family, for a wedding, only to be told he would have to pay £400 each for alternative flights. gutted, really, to be honest with you. i think it's bang out of order. they've done — they've not even apologised, you know, and i think that's just disgusting. in manchester, passengers were equally stunned. i'm still in shock, really, because we've just arrived only to find this out. this is the first we've heard. 0n arriving at the airport, we find out that there's a problem with the flight. customers who booked atol—protected package holidays should be able to claim back the cost, but mostjust bought flights with no atol cover. they are being told to try and claim through their card company or their travel insurance, but that may only cover those who picked airline failure as an optional extra. in cambridge, monarch employees gathered to share... i'm goin

simonjack is our business editor and joins us now. thanks for coming in. good morning.e — who do we think it will be? janet yellen, the incumbent, her term expires in february. she has been comfortable with unconventional monetary policy, quantitative easing. the big task for the next person will be reversing some of that. donald trump was critical of her in his election campaign. having said that, last week, he said she was to rhetoric. he said the stock market was going fine and warmed up to her. the two front runners are john fine and warmed up to her. the two front runners arejohn taylor, an academic from stanford university. a hawk, meaning he likes to put upminster —— interest rates faster than other people —— put up interest rates. the other candidate has talked about easing the stress tests that have been put on the banks. that chimes with donald trump. whoever gets the job, it will be interesting because they have two reverse the biggest monetary policy experiment of all time, when the federal reserve bot $4.5 trillion worth of assets. —— bought $4.5 trillion w

also critical, of the government's support of renewable energy policies, as our business editor simonjackdo we make sure we have enough energy to keep the lights on while keeping bills down in a way that doesn't cost the earth? the author of today's independent report commissioned by the government says customers are paying too much, and it doesn't have to be this way. the fossil fuel price has halved, the costs of renewables are tumbling. the costs of dealing with the intermittency from the wind, wind in particular, that's tumbling, too. you know, big problem for my report to look at is, why haven't we have the benefits of these substantial falls in cost in our bills? the dilemma, or trilemma, is this: fossil fuels like coal are cheap and reliable, but emit tonnes of carbon. renewables can't be relied upon all the time, and bills are on the rise. so, what's the answer? first, show the cost of existing policies to support renewables as a separate item on the bill. they can add up to 20% of the total cost. introduce a simple and lower charge to generators for emitting carbon and instead of

the trade unions warned the affected areas would lose highly—skilled jobs, as our business editor, simonjack a typhoon fighter makes its impressive ascent. but sales of this war plane are going in the opposite direction. a decline in orders and deliveries have led the manufacturer, bae systems, to cut nearly 2,000 jobs. 750 of them in samlesbury and warton in lancashire. kind of expecting it, obviously. it's just one of them. we know we've got a world beater with typhoon. and we really should be getting more orders. maybe we will. hopefully we will. we just have to wait for them to come in. bae accounts for one in four manufacturing jobs in this area. and many more in the supply chain. butjobs depend on orders. it is really about timing. it is a difficult market. you can't make customers buy when you want them to buy. you've got to respond to them. bae systems delivered 16 of these planes in 2016 to the raf and saudi arabia. an order from 0man sees that rise to 20 this year. but after that, deliveries are expected to halve in 2018 to 11, and halve again in 2019 to just five. now, the governm

also critical, of the government's support of renewable energy policies, as our business editor simonjackenough energy to keep the lights on while keeping bills down in a way that doesn't cost the earth? the author of today's independent report commissioned by the government says customers are paying too much, and it doesn't have to be this way. the fossil fuel price has halved, the costs of renewables are tumbling. the costs of dealing with the intermittency from the wind, wind particular, that's tumbling, too. you know, big problem for my report to look at is, why haven't we have the benefits of these substantial falls in cost in our bills? the dilemma, or trilemma, is this: fossil fuels like coal are cheap and reliable, but emit tonnes of carbon. renewables can't be relied upon all the time, and bills are on the rise. so, what's the answer? first, show the cost of existing policies to support renewables as a separate item on the bill. they can add up to 20% of the total cost. introduce a simple and lower charge to generators for emitting carbon and instead of an absolute price cap, hav

let's speak to our business editor simonjack who's in the city for us this evening.tance of this tweet from the head of goldman's? well, goldman sachs employs 6000 people here in london, highly paid and highly taxed. it is no secret that they were considering frankfurt in their plans. today's jaunty text is this just left frankfurt, enjoyed it, good, because i will be spending a lot more time there. what this underlines is that for many in the city, what work contingency plans are now becoming plans they are moving forward with. london will continue to be a great financial centre, the government said. that is definitely true. but what this outlines as many people here have had these plans in reserve and they are moving from contingency plans to plans they are moving forward with. we will not see london disappear overnight, it has been here for centuries. it does not mean it cannot be damaged and other european centres like frankfurt will be picking up business on the back of brexit. simon jack, thank you. 0ur europe editor katya adler is in brussels this evening. the

we're joined by our business editor, simonjack.fancy footwork announced in the middle of the night? this is an elegant solution to a thorny problem. it started when bombardier got into financial trouble. it is a small company, tiny compared to boeing and airbus. it was developing this c—series plane which everybody agrees is a good product and it took longer and was more expensive and it got hand—outs from the canadian government, quebec government and some from the uk. they sold 125 aircraft to delta airlines at a knock—down rate which is when boeing said you would not be able to do that if it were not for subsidies, it is against the rules, and the us government agreed and slapped the ta riffs government agreed and slapped the tariffs on there and put pressure on the company. with this they get to move some of the production inside the us, fast removing the border tax and getting around the tariffs. the us, fast removing the border tax and getting around the tariffsm is key, airbus has a factory in alabama where they can put the

figures have fallen in the september market — a key month for car sales, as our business editor simonjackold off car purchases until september to get them. this month's figures are an acid test of consumer demand, and it's falling. the confidence in the economy doesn't seem to be as strong as it once was. that's been borne out by some recent figures. so it's just causing consumers to delay purchasing. buying a brand—new car is a very big financial decision, so people look at car sales numbers to get an idea of what's going on inside the economy. and the numbers for september aren't great. the first time in six years they're down, and by 9%. year—to—date they are down nearly 4%. if you look at the other major markets, germany, france, spain, italy, you can see the uk is now the only market in reverse. so we've got to remember this is coming off quite a few strong years for car sales in the uk. nonetheless, it does add to other evidence suggesting consumer spending growth in the uk is pretty sluggish at the moment. certainly compared to growth in the euro area, which is where car sales appe

simonjack, bbc news, manchester.nts a "new understanding" with the spanish government following yesterday's disputed referendum on independence. spanish officials say the referendum was unlawful, but catalan officials say the result is valid and overwhelmingly in favour of independence. mr puigdemont has called for the removal of all spanish national police from catalonia, after hundreds of people were injured in violence at polling stations, but he also insisted he was not aiming for an "abrupt split" with spain. 0ur europe correspondent damian grammaticas is in barcelona tonight. as you were saying, tonight we do not know yet exactly when the leaders here in catalonia will push for a formal bid for independence following yesterday's a referendum. what we know and it's clear, is their decision to hold the vote in defiance of the courts, and the spanish government's decision to sendin spanish government's decision to send in police to try to stop it from happening, have plunged this country of almost 50 million into

also critical, of the government's support of renewable energy policies, as our business editor simonjackake sure we have enough energy to keep the lights on while keeping bills down in a way that doesn't cost the earth? the author of today's independent report commissioned by the government says customers are paying too much, and it doesn't have to be this way. the fossil fuel price has halved, the costs of renewables are tumbling. the costs of dealing with the intermittency from the wind, wind particular, that's tumbling, too. you know, big problem for my report to look at is, why haven't we have the benefits of these substantial falls in cost in our bills? the dilemma, or trilemma, is this: fossil fuels like coal are cheap and reliable, but emit tonnes of carbon. renewables can't be relied upon all the time, and bills are on the rise. so, what's the answer? first, show the cost of existing policies to support renewables as a separate item on the bill. they can add up to 20% of the total cost. introduce a simple and lower charge to generators for emitting carbon and instead of an absolu

let's speak to our business editor, simonjack, who's in the city for us this evening. this tweet from the head of goldman's? it's very important because goldman sachsis it's very important because goldman sachs is quite simply the most famous investment bank in the world. it employs 6000 people here and like many international banks it uses london as a hub to sell its services to the eu which they are allowed to do under so—called passport schemes. that model is threatened by brexit. it's no secret goldman sachs has been considering frankfurt as part of its contingency planning. this rather jaunty tweet from lloyd blankfein, who doesn't tweet much, so blankfein, who doesn't tweet much, so people take notice, says... i think what that underlines is the fa ct i think what that underlines is the fact what many people in the city they what were once contingency plans are more than that, they are putting these plans into motion, they don't believe there is a chance we can get everything they need done in order to service their clients. the message from lloyd blankfein and o

simonjack, is a little bit of help for him. simon jack, thank you.he brexit secretary has said that parliament might not get a vote on any brexit deal, until after the uk leaves the eu. david davis told a committee of mps that he hopes to get an agreement finalised with the european commission by the time the uk leaves in 2019, but ratification could happen after that date. ben wright reports. as we head towards our departure from the eu in 2019, parliament is scrutinising the government's strategy. it will have the vote on the terms of the exit deal ministers are negotiating. but today the brexit secretary said that may have to happen after the uk has left. be undertaken that we have given... it could be after march 2019? undertaken that we have given... it could be after march 20mm undertaken that we have given... it could be after march 2019? it could be. it depends how it concludes. the vote of the uk parliament could be after march 2019? yes, it could be. david davies says negotiations could go to the wire. there is a clock ticking on their talk

simonjack, why is he is so important?ho cares if a few ba n ke rs few people will say who cares if a few bankers left for frankfurt. some say they would not mind giving them a lift to the airport. but the chancellor will care. they provide 12% of gdp and 90 sensible exports. a very important sector and this is a very interesting intervention from the chief executive of one of the world‘s biggest investment banks. the chief executive of one of the world's biggest investment banksm frankfurt the likely beneficiary because i thought paris was also vying to lure these businessmen over. there will be no one winner. hsbc said they would move 1000 jobs to paris. bartley said they would move people to dublin. rbs said to amsterdam. frankfurt is emerging as the main winner. no surprise because it is the home of the european central bank. you have a very big central bank there. they have been the structure and transport links. not many people i speak to in the city want to move to frankfurt, but lloyd blankfein is doing his bit to