Blackberry to axe thousands of jobs

Blackberry has announced it is planning to cut 4,500 jobs, or 40% of its worldwide workforce, in an attempt to staunch huge losses.

The smartphone maker said it anticipated a loss of as much as $995m (£621m) when it reports its second-quarter earnings next week. In August, the Canadian company said it was evaluating a possible sale.

Shares in the firm closed down 17% after briefly being halted following the announcement.

Joe Lynam reports.