New prime minister Boris Johnson has been accused by the EU’s chief Brexit negotiator Michel Barnier of laying down “unacceptable” terms for talks on a new exit deal, setting the scene for months of bruising clashes.

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Nissan has announced it will cut 12,500 jobs globally over the next three years but the carmaker’s Sunderland plant appears to have avoided redundancies.

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Tech giant Amazon has reported a profit below Wall Street’s expectations and said income would slump slightly in the current quarter, as the online retailer ramps up spending to deliver goods faster and spark sales growth.