Administrators said the business had been hit by "challenging trading conditions and increased costs".

The announcement sets the stage for a potential bidding war over the US media conglomerate that owns HBO, CNN and other networks.

They are backing calls for the case of a sub-postmaster convicted of killing his wife to be re-examined.

The chancellor acknowledged that for many people the economy was "not working as it should" and said the reforms would boost growth.

The Bank of England governor says the collapse of two US firms could be a sign of wider problems in the financial sector.

Higher interest payments offset increased revenue from tax and national insurance, the UK statistics body says.

The departures followed a disagreement between the board and its majority shareholder over future governance.

Platform outage checker Downdetector said the issues have impacted more than 1,000 different businesses.