Ruling comes after Donald Trump’s vow to ‘take back control’ of shipping lane and reassert US influence in region

UK prime minister to travel to Shanghai seeking to drum up deals after meeting Xi Jinping

PM holds three hours of ‘warm and constructive’ talks with Xi Jinping in bid to revitalise London-Beijing relationship

US president says he will announce nominee to replace Jay Powell on Friday morning

Democrats and Republicans have two more weeks to agree measures to end heavy-handed tactics by federal agents

Lender ‘maniacally focused’ on rebuilding its investment bank in one of its home markets

Changes to student loans have, in effect, privatised undergraduate teaching in England

Strong holiday season and boost from China drive 23% increase in smartphone revenue

Don’t believe the hyperscalers; it takes depreciation of billions to hold them back

Equity portfolio could lose a quarter in the event of extreme weather events and shed more than half from an AI correction

Move would mark return to growth after shuttering hundreds of poorly performing stores last year

US president personally asked Russian counterpart for ‘energy’ ceasefire amid frigid temperatures in Kyiv

Ola Källenius declined offer but warns that Europe needs to realise it faces competition for investment

Beleaguered programme may continue in scaled-back form, after Airbus CEO said his company had given up on fighter jet

Software group pulls Nasdaq lower after reporting 66% year-on-year surge in data centre costs

iPhone-maker strikes deal for secretive group that creates technology that analyses facial expressions

Palantir and Deloitte among beneficiaries of spending by government agencies

Patrick James and brother Edward accused of fraudulently obtaining billions from lenders in New York federal case

Border tsar Tom Homan says move would be contingent on reaching deal with local authorities over access to prisons

Marco Rubio defends ‘novel’ scheme under which America will approve how Caracas can spend portion of national income

Police record rise in shoplifting and big jump in robberies from business properties

Latest data shows tentative signs of improvement after years in the doldrums

The smell of death is descending on a directionless government

Future of the company lies in equipping and running a global fleet of driverless taxis and in selling humanoid robots