Thomas Cook’s bonds tumbled to record lows after reports that questioned the company’s ability to return to profit and avoid being crushed under a pile of debt.

Poor results for English teams in this season's Champions League have helped Irish bookmaker Paddy Power fight back from a summer plauged by horse racing cancellations and the distraction of the Olympics.

The UK’s biggest pubs group Punch Taverns may put as many as 1,000 of its pubs up for sale ahead of the forthcoming smoking ban, it was reported today.