Rachel Reeves had been due to take part in a chat at the City’s global risks summit at around 11am.

It will cut the jobs in the third quarter of 2026 as a result, primarily in central operations rather than customer-facing roles.

The firms did not disclose the value of the deal, although previous reports indicated that it could be as much as £600 million.

Deliveroo Reservations will initially launch in London before being expanded to other locations across the UK later this year.

It came as the firm, which has 794 managed pubs and 21 franchise sites, revealed slower sales growth over the latest quarter.

The launch in January came amid a battle in the market with Mounjaro manufacturer Eli Lilly.

Shares in the company lifted higher on Wednesday morning as a result.

The yield on 30-year UK government bonds – also known as gilts – was up 0.14 percentage points to 5.798% on Tuesday.

The British Beer and Pub Association warned that the closures equate to the loss of around 2,400 jobs.

Shares in the FTSE 100 firm lifted higher in early trading on Tuesday as a result.

The VodafoneThree business was formed last year after the merger of mobile operators Vodafone and Three in the UK.

The major investment plan comes despite a challenging backdrop for the pub sector.

Supplier delays and related shortages led to a further ‘steep acceleration’ in price inflation for firms.

A large majority of policymakers opted to keep interest rates at 3.75% at the latest Monetary Policy Committee meeting on Thursday.

But experts have said a hike could remain on the horizon if the conflict continues to put pressure on UK inflation.

Hotels and leisure firms are in particular distress after facing higher labour costs and taxes over the past year.

The National Institute of Economic and Social Research said the UK could enter a recession this year if the crisis is particularly protracted.

Shares in the FTSE 250 firm slipped in early trading.

John Lewis stressed that its policy ‘hasn’t changed’ and that it still maintains a hybrid approach for its workforce.

Boparan Holdings, the parent firm of 2 Sisters Food Group and Bernard Matthews, said it has made ‘strong progress’ over the past year.