Rolling coverage of the latest economic and financial news
9.09am GMT
Royal Dutch Shell plunged to a loss of almost $20bn last year after the impact of the Covid-19 pandemic on the global oil market stripped around $22bn from the value of its oil and gas assets.
Related: Shell makes $20bn loss as Covid crisis downgrades assets
8.52am GMT
Shares in travel firms and hospitality companies are rallying this morning, lifting the FTSE 100 higher.
Hotel operators Whitbread (+4.8%) and InterContinental Hotels (+2.7%) are among the risers, along with jet engine maker Rolls-Royce (+1.8).