Shares, pound and oil slide as recession fears mount – as it happened

Anxiety over global slowdown knocks sterling to a two-year low, as oil falls to its levels when the Ukraine war began

The owner of the Upper Crust sandwich chain and Ritazza coffee shops doesn't see any early respite from inflation.

SSP reported this morning that:

In common with the entire hospitality sector, we continue to face widespread and increasing inflationary pressures impacting our supply chain, labour and energy costs, and these are anticipated to persist well into next year.

While there are clearly macro-economic uncertainties ahead, the housing market remains robust, our forward order book is strong and we have the resilience and flexibility to react to changes in the operating environment.