Update:

UK

Food enjoys record Christmas week sales

More fashion flops for troubled M&S boss

CEO Coupe says trading is challenging

Sainsbury’s signals start of new price war as sales dip

Up to 450 jobs at risk at high street chain

Johnsons cleans out third of branches

Sale of UK assets moves step closer

Clydesdale boss Thorburn quits ahead of float

David Thorburn

Apologetic banker resigns top post

RBS deputy chief executive Sullivan quits bank

RBS

FTSE100: 6,417.16 -130.64 (-2%)

Markets slump worldwide as oil tumbles to new low

Analysts anxious to avoid bid war

C&C expected to walk away from £780 million Spirit pubs bid

Webb wants to extend freedoms

Retirees may get right to swap pensions for cash

Plan may involve selling Tesco Bank

Tesco boss to cut jobs and sell assets in turnaround plan

Shoppers continue to buy online

Black Friday hits Xmas sales at John Lewis

John Lewis