Sony has be come the latest large-scale company to anounce it is to move its European headquarters out of the UK as Brexit threatens to bite.

The Japanese giant is to shift its leadership base from Surrey to the Netherlands in a move designed to avoid disruption caused when Britain leaves the bloc.

Sony said the move would help it avoid customs issues and it will not move personnel or its wider UK operations.

It follows a similar move by Panasonic, and by Brexiter Sir James Dyson's firm.

Sony in a statement that the move would mean it "can continue our business as usual without disruption once the UK leaves the EU".

It said that all its "existing European business functions, facilities, departments, sites and location of our people will remain unchanged".

The Herald: The Burberry badge

Luxury fashion brand Burberry has brushed aside fears of a slowdown in China as it reported a rise in festive sales.

The group said like-for-like global sales rose one per cent over the 13 weeks to December 29, with mainland China seeing a "mid-single" digit increase.

It comes amid slowing growth in China and fears of a sharp correction as the threat of a trade war between China and the US weighs on consumer sentiment.

Shares in Burberry had fallen in October when fellow luxury-goods giant LVMH Moet Hennessy Louis Vuitton posted a hit to some Chinese sales.

The Herald: JD Wetherspoon opened its first pub in 1979, and now has 714

Profits at JD Wetherspoon are to come in lower in the first half of the year after the firm was stung by a rise in costs, taking the shine off a stellar rise in sales.

The pubs chain said in a trading update that in the first 12 weeks of the second quarter to January 20, like-for-like sales increased by 7.2% and total sales by 8.3%.

In the half year, comparable increased by 6.3% and total sales by 7.2%.

However, costs have rocketed, especially labour, which has increased by about £30 million in the period.

Wetherspoon said that pre-tax profit in the first half is expected to be lower than last year's £62m.

Chairman Tim Martin said: "Our expectations for the full year are unchanged."