The pound has suffered its longest losing streak against the eurosince the creation of the single currency two decades ago as turmoil in Downing Street spilled over into the world’s currency markets.

***

Mark & Spencer is stepping up its retreat from the high street by closing a further 20 of its full-line stores, which sell clothing and food under one roof.

***

Topshop tycoon Sir Philip Green plans to close 23 stores, putting 520 jobs under threat, as part of a rescue plan.