They say profits warnings come in threes and it has certainly turned out to be the case with online fashion retailer Asos. The shares are down a further 10% to £21.80 after price cuts, a fire and infrastructure investments all hit earnings.

Back in July the lingerie chain, La Senza, formerly owned by ex-Dragon’s den star Theo Paphitis filed for bankruptcy and today it was announced that mobile phone retailer Phones4U formerly owned by high profile entrepreneur John Caudwell has gone into administration.

Like for like sales for Morrison supermarkets were down 7.4% and overall turnover dropped 5% to £8.5 billion as price cuts failed to stem volume declines.

After climbing as high as $103 during Apple’s Cupertino event yesterday evening, the shares finished marginally down at $97 following the announcement of new iPhone’s (the 6 and 6 Plus) with larger screens and thinner and the eagerly awaited Watch.

McDonalds is having a tough time of late with the shares down over 10% since the end of last year as Chinese food safety concerns in particular have hit sentiment.