Advent International will buy a 70 stake in Reckitt’s essential home business, which also includes brands such as Air Wick.

Exchequer secretary to the Treasury James Murray said it was ‘absolutely not the case’ that Number 10 had wanted Ms Abbott to out of the party.

Burberry has said it is “encouraged” by the initial progress from its transformation plan but highlighted that trading conditions remain “challenging”. The London fashion house revealed that retail ...