Senior elections and political analyst, BBC News
Senior elections and political analyst, BBC News
That's all from the Business Live page for tonight. We'll be back tomorrow at 06:00.
Helen Dickinson OBE, chief executive of the British Retail Consortium, said: “Even as the Brexit clock approaches midnight, MPs continue to squabble.
"Yet it is the public who will feel the impact of a no deal Brexit – tariffs, non-tariff barriers and currency depreciation will all push up costs and reduce the choice on the shelves we currently enjoy.
"Businesses are exasperated by the lack of clarity over their future trading arrangements. Hundreds of ships are currently sailing towards Britain without a clear understanding of the tariffs, checks, or documentation requirements, they will face when they arrive. Politicians must swallow their pride and find an agreement that can command the support of the House.”
The German chamber of commerce has been offering its opinion on the Commons cote tonight.
The rejection of the Brexit deal is a "sharp disappointment" says the President of Germany's chamber of industry and commerce ( DIKK ).
Eric Schweitzer said the "danger of an unregulated Brexit and the economic and legal uncertainties associated with it keep hanging over businesses".
The roller coaster day for sterling continues. The British pound is now down 1.29% against the euro at 1.1574 euros.
Dow down 0.4%, S&P 500 up 0.3%, Nasdaq rises 0.4%.
Sterling which had earlier fallen to an intra-day low of $1.3005, down nearly three cents from overnight highs, was trading at $1.3076, broadly near levels before the voting began.
The pound nearly popped into positive territory at one point towards the end of New York trading hours and during Prime Minister Theresa May's statement after her Brexit defeat.
Edwin Morgan, Interim Director General of the Institute of Directors, said: "Our politicians have yet again failed to find a way to break the impasse. They are becoming adept at saying what they don’t want, but it’s still hard to see where the desire for compromise lies.
"Now that we have confirmation that Parliament will have its opportunity to reject no deal on 29 March, it is essential that political leaders on all sides look beyond party lines to find a way to move the country forward.
“If an extension is sought, both the Government and the Opposition must state in precise terms what they are hoping to achieve from it. Recurring short extensions aren’t an appetising prospect for businesses.
“While business leaders will be eager to see the details on tariffs and the Northern Ireland border, the Government’s belated contingency planning and lack of transparency have made it almost impossible for many of them to prepare adequately for no deal by 29 March.”
Stephen Phipson, CEO of Make UK , the manufacturers’ organisation formerly known as the EEF, said:
"Tonight’s vote was decisive. It is now essential that Parliament brings the curtain down on this farce and removes the risk of no deal tomorrow," he said.
"That outcome would be disastrous for the UK manufacturing, jeopardising many thousands of jobs in every constituency in the land.
"Once the risk of no deal is removed, it is vital that Parliament and the Government move swiftly to set out a clear path for the future. Three years of uncertainty have been disastrous for our sector and we must establish a credible plan for the future as quickly as possible."
The BBC's Europe Editor Katya Adler says that the view in Brussels is that a no-deal Brexit is now even more likely.
It is a "hardening mood," she says.
She adds that the EU does not want the UK to leave without a deal, but it is not prepared to give further concessions.
Carolyn Fairbairn, CBI Director-General, said: “Enough is enough. This must be the last day of failed politics.
“A new approach is needed by all parties. Jobs and livelihoods depend on it. Extending Article 50 to close the door on a March no-deal is now urgent. It should be as short as realistically possible and backed by a clear plan.
“Conservatives must consign their red lines to history, while Labour must come to the table with a genuine commitment to solutions. It’s time for Parliament to stop this circus.”
Andrea Leadsom confirms that the business motion for tomorrow has been tabled and that the motion proposes the vote will take place at 19:00 GMT on Wednesday evening.
Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), says: “Businesses have warned time and again that the United Kingdom is not ready to face the consequences of a messy and disorderly exit from the European Union. Government agencies are not ready, many businesses are not ready, and despite two and a half years passing since the referendum, there is no clear plan to support communities at the sharp end of such an abrupt change.
"Parliament must demonstrate that it will heed these repeated warnings. It is profoundly obvious that neither government nor many businesses are ready for a disorderly exit - and this must not be allowed to happen on March 29th, whether by default or by design."
Well, that didn't last long. The pound is now down 0.5% against the US doillar at 1.3080.
The pound is back up at $1.3116 not far off its opening level.
It hasn't recovered as much ground against the euro. It's at €1.1584 having started the day at €1.1692.
Lib Dem leader Vince Cable asks the Speaker if he can identify a case since the American War of Independence when the prime minister has been twice defeated and continues with the same policy.
The Speaker says: "It is usually unwise to assert that this is no precedent unless you are absolutely certain - most things have happened at one point or another."
The SNP's Westminster leader Ian Blackford says people will be looking at Parliament "with despair".
He says MPs should vote to rule out no deal and extend Article 50 to allow for a referendum on Brexit.
"We have a responsibility to end the uncertainty," he says.
Jeremy Corbyn says the government has been defeated by an enormous majority and must accept their deal does not have the support of the House.
He calls for no-deal to be taken off the table, and says the Labour Party's proposal is the suitable alternative.
Mr Corbyn says the prime minister "knows full well" the damage a no-deal Brexit would do.
He adds that Labour's plan is a "negotiated customs union, access to the market and protection of rights".
He says the prime minister has run down the clock, "but now the clock has run down on her", noting that "it is time for a general election."
TheCityUK, which promotes the UK-based financial and related professional services industry, says MPs must now not "score an own goal".
"MPs must now say ‘no to no-deal’ and the UK and the EU must urgently return to the negotiating table. We need a rapid agreement on the way forward to protect customers and jobs," says its boss Miles Celic.
"This is a vital part of keeping the U.K. at the top of the global premier league of international financial centres - something that is in the interests of customers at home and across Europe."