Pound falls below $1.28 as collapse of Brexit talks looms – business live
Theresa May on brink as she struggles to reach deal with Labour and agrees to set her own departure timetable
On the other hand, takeaway platform company Just Eat is the biggest faller on the FTSE 350 after news that a rival is now backed by technology behemoth Amazon.
Amazon is the lead investor in a $575m (£449m) funding round in Deliveroo, the British food delivery app.
Today we’re announcing that we’ve raised $575MM in a round led by Amazon.@willshuroo CEO and our first ever rider said “This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate.” https://t.co/RdlZwbniyr
Related: Amazon invests in food courier service Deliveroo
Investors have welcomed Metro Bank’s efforts to strengthen its balance sheet. Last night it raised £375m in a move it hopes will quash rumours about its financial health that caused customers to pull cash last weekend.
Shares in the lender are the biggest riser on the FTSE 350, up by 17% to about £6.30 at the time of writing.
Related: Fundraising call by Metro Bank raises £375m in three hours
Metro Ban successfully raises 375 million pounds to strengthen its finances. Bank of England issued statement of support saying metro Bank is solid.
The Prudential Regulation Authority welcomes the steps taken today by Metro Bank. Metro Bank is profitable and continues to have adequate capital and liquidity to serve its current customer base. It has raised additional capital in order to fund future growth.