The Confederation of British Industry (CBI) has warned Conservative leadership candidates over leaving the EU without a deal.

A no-deal scenario would do “severe” damage to businesses, it said in an open letter to all the MPs running to lead the party (see full letter here).

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HSBC is planning several hundred job cuts at its investment bank as it tightens its control on costs and braces for pressure on revenues and a deteriorating economic outlook.

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US president Donald Trump is preparing to issue a warning to the  UK about intelligence sharing over Huawei issue ahead of a three-day trip to Britain next week