3) The failure to electrify thousands of miles of railway threatens Boris Johnson’s promise to make Britain the cleanest country on earth, industry leaders have warned. Rail chiefs have written to Transport Secretary Grant Shapps urging him to press on with electrification so that the industry can cut out carbon emissions by 2040.
4) Beales to shut remaining 11 department stores: The company made a further 20 staff redundant at its head office in Bournemouth with hundreds of jobs at risk.
5) Donald Trump has pardoned financier and philanthropist Michael Milken, the face of financial scandals in the Eighties. The US president said that the “junk bond king”, who was convicted of securities fraud, had done an “incredible job” supporting cancer research.
What happened overnight
Asian stocks and US and European equity futures recouped some of Tuesday’s losses after signs that China may be planning to offer more support