Campaigners have won a Court of Appeal ruling against the UK government on environmental grounds over plans for a proposed £14bn third runway at London’s Heathrow airport.

Market tumult sparked by the growing coronavirus crisis has spilled into the fourth consecutive day, with European stocks following Asia’s lead with heavy declines in morning trading.

Zalando has unveiled an ambitious push into the €38bn luxury clothing segment, with a promise to double the assortment from premium makers such as Moschino and Alberta Ferreti on its website by 2023.

WPP shares have tumbled by the most in almost three decades after the world’s biggest advertising group said its sales will stagnate this year on the heels of a bigger than expected decline in the final three months of 2019.

The world’s largest sovereign wealth fund enjoyed its second-best annual performance last year as buoyant equity markets boosted Norway’s $1.1tn oil fund’s return to 20 per cent.

Drax, the FTSE 250 power company, said it would draw a line under its use of coal in 2022, ahead of the UK’s 2025 deadline, as it battles to make its biomass energy model viable for the future.

Aston Martin’s losses deepened to more than £100m in 2019, the group said on Thursday as it announced plans to part ways with its financial chief following a turbulent year which culminated in a £500m rescue deal last month.

Shares in NMC Health, the struggling healthcare provider, have been suspended after it was forced to reveal unauthorised off-balance sheet financing, raising fresh concerns about a mounting accounting scandal that has sparked a boardroom clearout.

Bayer’s legal woes in the US have deepened, with the German chemicals and pharmaceuticals group disclosing on Thursday that it faces claims from 48,600 plaintiffs alleging that its Roundup weedkiller causes cancer.

Persimmon, the UK homebuilder under pressure to overhaul its culture, will begin its search for a chief executive now that David Jenkinson said he will step down “in due course” after a year in the job.

Reckitt Benckiser has taken a £5bn impairment on its acquisition of baby formula maker Mead Johnson as its new chief executive seeks to draw a line under a difficult period for the consumer goods group.

Ikea will start selling plant-based meatballs with just 4 per cent of the climate footprint of the group’s classic pork-and-beef ones as the flat-pack retailer seeks to slash its emissions by testing ideas such as renting out or refurbishing its furniture.

Wall Street extended its losses on Wednesday in a volatile day for global markets as traders responded to new cases of the coronavirus in Europe and Asia.

Microsoft has warned it will miss its revenue guidance for its Windows and Surface businesses, blaming uncertainty around the coronavirus.

Only two months into 2020 and Mexico’s central bank has already cut its growth forecast for this year.

Sales of newly built homes in the US accelerated last month to their strongest pace in more than 12 years, a bright sign for a housing market bolstered by low interest rates.

Lloyds Banking Group and insurance group Direct Line each announced hundreds of job cuts on Wednesday as they moved to lower costs as more customers embraced digital services.

William Hill, the UK bookmaker, almost wiped out its losses from last year after shrinking its shop estate following the implementation of punitive regulations on betting machines in the UK.

Russia’s Norilsk Nickel, the world’s largest producer of palladium, says carmakers won’t switch away from the metal in catalytic converters despite a record 80 per cent surge in prices over the past year.

BP will cut ties with three US industry lobby groups over disagreements with their climate policies.

Insurance group Direct Line is to cut 800 jobs from a number of sites across the UK as part of a £50m cost cutting drive, it said on Wednesday.

Weir Group has prepared the ground for a sale of its struggling oil and gas division after a £546m writedown knocked the mining and energy equipment maker into an annual loss.

The Restaurant Group, owner of Wagamama and Frankie & Benny’s, said that it was suspending its dividend as it looks to cut the size of its estate by almost 100 sites.

Bob Iger is stepping down as chief executive of Walt Disney a year after extending his contract, handing day-to-day control of the world’s largest media company to the head of its theme parks business.

Keith Block has stepped down as co-chief executive of Salesforce after 18 months, according to the company, in an unexpected move that leaves Marc Benioff alone at the helm.