The High Court has given Aviva, Britain’s second largest insurer, approval to transfer around £9 billion in assets to a new Irish company just before the onset of Brexit.

It comes as Honda said up to 7,000 jobs were at risk from its decision to close its plant in Swindon as it confirmed the biggest blow to the British car industry for a generation.

Meanwhile, HSBC has warned about a weaker global economic outlook, as the slowdown in China, trade tensions and fears around Brexit hit its revenues towards the end of the year.