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UK profit warnings higher than in 2008 crisis; oil rises as Middle East tensions escalate – business live

Rolling coverage of the latest economic and financial news

Back in London, shares in vape distributor Chill Brands are down by 25% this morning as the government prepares to announce a complete ban on disposable vapes.

The ban is set to come into force across the UK early next year – although The Times reports that several “anti-nanny state” Conservatives including former PM Liz Truss plan to oppose it.

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