Platinum and copper also fall on expectations Trump will pick Warsh as next Fed chair

Bloc’s performance in the face of geopolitical and trade tensions has surprised policymakers

Delayed western payments keep country’s air defences ‘simply empty’, allowing Russia to knock out power, says president

Drugmaker expands push into fast-growing market

Some businesses have adopted it as policy while many employees are embracing a more casual attitude to working on Fridays

Leading labels have signed deals with tech companies in the hope of creating new revenue streams and reducing the amount of slop. But artists are worried

Tussles over what to put on euro banknotes are symbolic of deeper dysfunction

Relations between Chinese Communist leaders and the army have always been fraught

Stocks, bonds and currencies have all soared as dollar weakness puts focus on fundamentals

Correlation with equity benchmarks hits highest in at least five years, raising concerns over performance during downturns

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

UK prime minister travels 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