Race for coveted role comes as bank fights Swiss government over threat of more stringent capital buffers

Over the past 50 years the state has become overly reliant on a few deep pockets that it cannot afford to lose

Implementing automation systems requires a lot of planning, time and money

Negotiations come as asset managers turn to retail investors after slowdown in flow of cash from institutional backers

Balderton Capital led $75bn fintech’s first funding round and retains substantial stake even after cashing out $2bn

Industry data points to disappointing Christmas for shops as consumers held back

Backlash builds as Trump administration’s prosecutors target head of US central bank

British ministers aim to secure foreign investment at the World Economic Forum

Levies to be applied immediately by US could affect nations such as China and India

Shadow chancellor Mel Stride will also propose reforms to OBR aimed at ‘fully capturing’ impact of tax cuts on growth

Federal Reserve chair could stay on board beyond this year in effort to protect US central bank’s independence

Joint statement accuses Trump administration of behaving as if US is an emerging market ‘with weak institutions’

Richard Knighton warns MPs of budget shortfall and the need for difficult decisions

Deal with Apple fuels investor optimism over Big Tech group’s competitiveness with OpenAI’s ChatGPT

Matt Benchener to replace Richard Flint as boss of UK’s biggest ‘DIY’ investment site

Equity stake in Atlantic Alumina Co is part of drive to counter Chinese dominance of critical metal supply chains

Simon Carter to step down from FTSE 100 property group to head P3 Logistics

Former deputy national security adviser in Donald Trump’s first term served on tech company’s board last year

Federal Reserve chair says the probe relating to a $2.5bn renovation of HQ is a ‘pretext’ to rein in central bank’s independence

Iranians have suffered years of inflation, devaluation and stuttering growth

A criminal investigation of Jay Powell is the latest in the reworking of the world’s most important financial institution

Conflict over Greenland could destroy the transatlantic alliance, requiring a new European security treaty to replace it

White House’s demand for limit on what issuers can charge rattles investors

Former Conservative chancellor is latest figure to join Nigel Farage’s populist party