Changing the management of Marks & Spencer many times over isn't going to protect it from Amazon, or fast growing online retailers such as Asos and Inditex, which owns the Zara chain. Tesco may already be moving from hunter to hunted. Eventually branded-goods manufacturers will be undermined. In short, companies that are commonly perceived to be safe, low-risk investments are likely to prove the opposite.

According to RIA Novosti state news agency, Snowden, who in Russia, has been granted permission by the Russian Immigration service to leave the transit zone of Sheremetyevo airport.

The Prince of Wales speaks with Bethan Davies, second left, at the Royal Welsh Show in Llanelwedd. Photo: PA

Regularly rated among the worlds elite ultra-luxury cruise lines, Regent Seven Seas was established in 1970.

Michael Bravo, Scott Polar Research Institute, University of Cambridge