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The UK is no longer investigating two of the three initial allegations against Mikhail Fridman four months after arresting the sanctioned Russian oligarch at his London mansion. The National Crime Agency, which tasked over 50 officers to raid Fridman’s multimillion home in north London in December, has stopped probing the 58-year-old businessman on suspicion of

Saudi Arabia and other members of the Opec+ group announced surprise oil production cuts totalling more than 1mn barrels a day, putting Riyadh on a collision course with the US as the kingdom attempts to boost prices amid fears of weaker demand. Saudi Arabia will implement a “voluntary cut” of 500,000 b/d, or just under

Two years on from the January 6 Capitol riots, and following a familiar call to arms from former president Donald Trump, it was widely feared that crowds of his supporters might swarm the streets of New York to protest his indictment by the Manhattan district attorney. But by Friday afternoon, the anticipated hordes were conspicuously absent.

Donald Trump will turn himself in to New York prosecutors on Tuesday, his lawyer said, insisting the former president would “not be put in handcuffs”. Joe Tacopina added he expected the charges — the first criminal indictment in history of an ex-US president — to relate to payments to buy the silence of porn actress

Donald Trump has been indicted following a years-long investigation by Manhattan prosecutors that has led to the first criminal charges against a former US president in the country’s history, according to his lawyers. “President Trump has been indicted. He did not commit any crime. We will vigorously fight this political prosecution in court,” his lawyers

Isaac Perlmutter, the billionaire who sold Marvel to Disney in 2009 and had clashed with the company’s chief executive Bob Iger, has been ousted as part of the company’s round of job cuts, according to people familiar with the matter. Perlmutter was chair of Disney’s Marvel Entertainment unit, which has become a blockbuster-making juggernaut for the

The governor of the Bank of England has dismissed the prospect of an imminent financial crisis, describing last week’s dumping of European bank shares as investors “testing out” lenders and insisting the world is not “at all in the place” it was before the 2008 crash. Appearing before the cross-party Treasury select committee on Tuesday,

Israel’s president Isaac Herzog has implored the government to halt a bitterly contested judicial overhaul, warning that the polarisation it had caused had put “our security, economy, society” under threat. Mass protests erupted across the country overnight with tens of thousands of people taking to the streets after Prime Minister Benjamin Netanyahu sacked his defence

Israel’s prime minister Benjamin Netanyahu has sacked his defence minister Yoav Gallant after he called for a judicial overhaul to be halted, warning that it posed an “immediate danger” to national security. The fight over the bitterly contested proposals, which would significantly weaken the powers of the judiciary, has sparked the biggest wave of protests

Vladimir Putin has said Russia plans to deploy tactical nuclear weapons in Belarus, marking Moscow’s latest attempt to use the threat of a nuclear war to ramp up tensions with the US and Nato over the invasion of Ukraine. Russia’s president said work would be completed on building storage units for tactical nuclear weapons in

The US Securities and Exchange Commission has raised concerns over Rokos Capital Management after the hedge fund was forced to hand over large amounts of cash to its banks as collateral when an outsized bet on US government bonds backfired earlier this month. SEC chair Gary Gensler brought up the hedge fund during calls with

TikTok’s chief executive told US lawmakers that the viral video app would be kept “free from any manipulation by any government”, as he tried to head off a potential ban in the US. Shou Zi Chew faced bruising questioning in Congress on Thursday over the social media app’s links to its Chinese parent company ByteDance.

The Federal Reserve on Wednesday pressed ahead with its monetary tightening campaign despite the recent turmoil in the banking sector, raising its benchmark interest rate by a quarter of a percentage point and signalling another increase to come. Following its latest two-day meeting, the Federal Open Market Committee voted to lift the federal funds rate

Ministers have delayed plans to raise the state pension age to 68 amid falling life expectancy in the UK and warnings from Tory MPs that the move could provoke a backlash from middle-aged voters. The state pension age, currently 66, is due to increase to 68 after 2044. The government wanted to bring this forward

Shares in First Republic tumbled again on Monday after its credit rating was cut for the second time in the space of a week, a decision that came following depositors pulling tens of billions of dollars from their accounts. The bank’s shares, which have fallen more than 80 per cent in March, were down 30

UBS agreed to buy Credit Suisse for $3.25bn after a frantic weekend of negotiations brokered by Swiss regulators to safeguard its banking system and attempt to prevent a crisis spreading across global financial markets. The historic deal follows five days in which the Swiss establishment raced to end a deepening crisis at Credit Suisse that

Credit Suisse, UBS and their key regulators are racing to thrash out a deal on the historic merger of Switzerland’s two biggest banks as soon as Saturday evening, people familiar with the situation told the Financial Times. The Swiss National Bank and regulator Finma have told international counterparts that they regard a deal with UBS

UBS is in discussions to take over all or part of Credit Suisse, with the boards of Switzerland’s two biggest lenders set to meet separately over the weekend to consider what would be Europe’s most consequential banking combination since the financial crisis, according to multiple people briefed on the talks. The Swiss National Bank and

The largest US banks have banded together to deposit $30bn into First Republic Bank in an attempt to bolster its finances and contain the fallout from the collapse of two big lenders in the past week. JPMorgan Chase, Bank of America, Citigroup and Wells Fargo will each deposit $5bn into First Republic, a California-based lender.

Jeremy Hunt has delivered a defiantly upbeat Budget that offered a £9bn tax break for business, an extension of free childcare and a surprise pension boost for the well-off. The chancellor on Wednesday claimed Britain’s economy was “proving the doubters wrong”, as he announced a 100 per cent tax break for business investment to try