Boots £5bn sale abandoned; Heathrow landing fees to fall; petrol at new record – as it happened

Rolling coverage of the latest economic and financial news

• Boots sale abandoned amid torrid debt-financing markets
• Petrol prices at new record
• Car industry warns Brexit progress has not materialised
• London's Heathrow airport forced to cut landing charges
• South London tram drivers' strike to follow national rail walkout

Postal workers have begun voting on whether to take industrial action in a dispute over pay that could intensify Britain's summer of strikes.

Around 115,000 members of the Communication Workers Union (CWU) have received ballot papers and will decide in the coming weeks if they want to mount a campaign of industrial action. A result is due on 19 July.

Britain's postal workers are being forced into accepting a massive pay cut by the same people they have generated incredible profits for."

We offered a deal worth up to 5.5% for CWU grade colleagues, the biggest increase we have offered for many years, which was rejected by the CWU.

We need to reach an agreement on the changes required to ensure Royal Mail can grow and remain competitive in a fast-moving industry, securing jobs for the future and retaining our place as the industry leader on pay and terms and conditions."