IMF chief Christine Lagarde said yesterday the six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure a slowing global economy but does nothing to lift uncertainty over the final outcome.

Meanwhile, Bank of England governor Mark Carney said politicians could now take some time to find a way forward on Brexit, after Theresa May agreed a delay of up to six months before leaving the EU.

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Accounting regulator the Financial Reporting Council has launched an investigation into Grant Thornton’s audit of Interserve after the UK government contractor collapsed into administration last month.