Leah Montebello

Shares in Hipgnosis, which owns the rights to back catalogues ranging from Blondie (pictured) to Neil Young, rose 11.6%, or 10.7p, to 102.6p

The job cuts are part of chief exec Elon Musk's (pictured) plans to axe 10% of the workforce worldwide - or 14,000 jobs - to drive down costs.

The music streaming giant - which features artists such as Adele and Taylor Swift (pictured) - unveiled profits of £145m in the first three months of this year.

The social media firm posted revenues of £29.2bn for the three months to the end of March, up 27% from the year before.

City analysts think vulnerable blue-chip stocks include BP, Unilever, BP, Reckitt Benckiser, Standard Chartered, Entain and Burberry.

In a meeting with Chinese Premier Li Qiang, Musk said the electric car maker was willing to cooperate to 'achieve more win-win results'.

In a much-needed boost for the electric vehicle maker, the billionaire boss (pictured) struck a navigation deal with Chinese tech firm Baidu.

Hipgnosis, founded by Merck Mercuriadis and guitarist Nile Rodgers (pictured), is the latest London-listed firm to be targeted by foreign buyers.

Volkswagen and Mercedes-Benz said they were seeing a sluggish appetite for fully electric cars as drivers revert to petrol or hybrid models.

Some 98% of Flutter shareholders backed moving the gambling group's main listing to the US - downgrading the its status in London.