BUSINESS LIVE: Borrowing hits £16.6bn; HSBC shake-up; Mulberry says Frasers’ takeover ‘untenable’

The FTSE 100 closed down 11.70 points at 8306.54.

UK government borrowing hit £16.6billion last month, well ahead of Office for Budget Responsibility projections of £15.1billion and marking the third highest borrowing figures for September on record. However, the reading was below City forecasts of £17.5billion for the month. 

Among the companies with reports and trading updates today are HSBC, Mulberry, Frasers, Wickes, Sosander and Halfords. Read the Tuesday 22 October Business Live blog below.

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