The US wants to agree a post-Brexit trade deal with the UK this year, the country’s treasury secretary has said.

After meeting Chancellor Sajid Javid in London, Steve Mnuchin said he believed the UK could negotiate trade deals with the US and EU at the same time.

After Brexit happens on 31 January, the UK will be free to negotiate and sign new trade deals with countries with no existing EU deals – like the US.

Unite, one of Britain’s biggest trade unions, has backed Rebecca Long-Baiey to be the next leader of the Labour Party.

It officially endorsed the shadow business secretary to take over from Jeremy Corbyn after an all-day hustings.

The move all but guarantees her place on the ballot paper, which Sir Keir Starmer and Lisa Nandy have already secured.

Boeing has successfully completed the first flight of the world’s largest twin-engine jetliner – a respite from the ongoing controversy surrounding the 737 MAX.

It took three attempts to get the 777X off the ground, as the first two planned tests were abandoned owing to high winds.

The plane – which is 77m (252ft) long and can seat more than 400 passengers – took off from a runway just outside Seattle on the US west coast.

China is struggling with a new virus that has already killed more than 20 people. It is a serious health issue. The World Health Organization has called it an emergency for China, though not for the world, not so far at least.

Inevitably, it will have economic consequences. But how severe and how far will they spread?

Economists are very wary about putting any figures on it at this early stage.

Global Market Summary