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00:00Hello and welcome to the latest business bulletin on Friday the 4th of April.
00:07The UK government still considering its response to Donald Trump's tariffs as market volatility
00:12continues. Ministers have insisted they'll respond with cool and calm heads but are keeping
00:17all options open. This includes the possibility of counter tariffs on a range of American
00:22goods. A list published by the government showed products that could be targeted including
00:26whisky, motorbikes, guitars and jeans. JCB, one of the most successful firms in the Midlands
00:33may well be approaching the tariffs in a different way. They're going to double the size of a
00:37new factory currently being built in Texas. However, they have confirmed that the tariffs
00:42will impact the business in the short term. JCB's been manufacturing in the US for 50
00:47years.
00:48Oil giant BP has announced its chair. Helge Lund intends to step down. The company's kicked
00:53off the process to pick his successor. The next chair will join the board and work together
00:58with Lund ahead of taking on the role. Lund will likely step down next year.
01:03Luton Airport's expansion plan has been approved by the transport secretary despite a recommendation
01:08she rejected. Heidi Alexander gave the go-ahead to the airport's development consent order
01:12application yesterday. It was despite advice from the planning inspectorate that she turn
01:17it down due to environmental concerns.
01:20And reality TV star and businesswoman Molly Mae Haig is among 30 inspiring young people
01:25who feature on the Sunday Times Young Power List. The influencer and former creative director
01:30of fashion retailer Pretty Little Thing rose to fame on dating show Love Island in 2019.
01:36She launched her own clothing brand last year.
01:39That's all for today. More tomorrow.