Vodafone boss Margherita Della Valle stuck by the company’s full-year profits guidance today but said a decline in revenues in Europe showed “we can do better”.

The scale of the struggle facing the world’s largest social media firms was laid bare today after Snapchat Snap Inc posted a whopping $288 million (£234 million) loss for the fourth quarter, reversing profits of $23 million it made in the previous year and sending its shares down as much as 12.6% in after-hours trading.

While the layoff headlines might be gloomy, recruitment is continuing in London’s world leading fintech sector, which appears to be remarkably resilient