BUSINESS LIVE: FTSE and pound slump as Brexit talks remain in limbo;

BUSINESS LIVE: FTSE and pound slump as new Covid strain crisis grips the nation; Frasers Group warns on profits; Arcadia sells Evans to Australian firm

The FTSE 100 and the pound are deep in the red this morning as and a fresh wave of Covid-19 threaten the economy.

In company news, the administrators of collapsed retail group Arcadia have agreed the sale of its Evans brand, e-commerce and wholesale business to Australian firm City Chic Collective for £23million.

Mike Ashley’s Frasers retail empire has issued a profit warning, saying that previous guidance of a 20 per cent to 30 per cent boost in profits this year is unlikely to be achieved.

Chaos: Lorries queue prior to boarding a train to France via the Channel Tunnel