Rolling coverage of the latest economic and financial news

• Bank of England poised to cut interest rates amid UK economic gloom

Sterling is weakening a little this morning, as the City anticipates a cut to UK interest rates at noon.

The pound, which hit a one-month high yesterday, has lost a third of a cent against the US dollar back to $1.2473.

The fresh ally would ideally be from the technology sector and be based in the US, the people said, asking not to be identified because the information isn’t public.

Although its sales are slowing globally, North America remains Nissan’s most important market and the wider shift toward electrification and automation is pushing all carmakers to seek alliances with high-tech industries.