Thursday 09.10 BST. Global stocks are in sharp retreat, led by a savage plunge in Tokyo, as traders are spooked by the prospect of reduced central bank support and a slowing Chinese economy.

Commodities fell for a third day, paced by declines in copper and oil, as manufacturing in China unexpectedly shrank for the first time in seven months and the head of the Federal Reserve hinted that stimulus may be tapered.

IMF chief Christine Lagarde has arrived at a court in Paris for questioning over a payout to a controversial tycoon during her time as finance minister.

Speaking after he delivered the annual British Retail Consortium lecture, Tim Steiner said the reaction of Waitrose to Ocado's tie-up with Morrisons has been a �joke�.

Flybe's made the announcement as it updated markets on its turnaround plan. This included pushing back the delivery of 16 new aircraft by three to four years to help it return to profitability by reducing pre-delivery payment charges this year.