Racing at Ascot was abandoned because of snow today – with a 4pm inspection also planned ahead of tomorrow’s meeting.

Today became the first day for a week that all racing’s scheduled fixtures beat the cold weather, but the threat of frost is still lingering in the air.

British households are braced for a further squeeze on finances this year as wage settlements look set to disappoint despite the rising cost of living.

Catalogue and internet sales came to the rescue of Next today after the fashion chain endured a worse-than-expected time on the high street.