FTSE 100 Live: Businesses warn on UK growth

Good morning from the City AM liveblog team.

With each day we get closer to the Budget, businesses are getting more and more jittery over what could be in store for them.

Yesterday it was the turn of BT chief Allison Kirkby. In an on-stage interview with City AM at the Connected Britain conference, Kirkby warned the telecoms industry was “already at peak government inflicted costs”, adding that investors “need certainty that they’re going to get a return on that investment and they get that certainty through stability on regulatory and fiscal policy.”

It comes after the boss of e-commerce firm AO World warned that rising inflation and Labour’s legislation on workers’ rights could push the UK into recession.

“We’ve lived through a few recessions in the last 25 years – I think we’re heading into another one,” John Roberts told the BBC.

With weeks still left to go, and no signs of clarity on how the government intends to raise the tens of billions of pounds to stick within its fiscal rules, the onslaught of warnings and concerns directed at the Chancellor is unlikely to slow down. Will she try to get ahead of it all and signal her intent? Businesses are hoping so.

Here’s a summary of our top headlines from yesterday:

• The Pimco boss who thinks philanthropy has a PR problem
• Rolls-Royce, BAE, Babcock: Defence shares rally after Trump remarks
• Signal AI raises $165m as UK tech faces scaling challenge
• Moët & Chandon: Sales slump by £25m at champagne owner
• Firms turn to security as threats to bosses rise