Investors are prepared to pay the most on record to hold Russian shares abroad amid speculation that President Vladimir Putin’s government will be forced to implement currency controls to arrest the ruble’s decline.

Retail tycoon Philip Green is preparing to wage a high street war on Marks & Spencer after dropping his £9.1bn (€13.6bn) takeover bid.

Leeds United this morning confirmed “continuing, constructive discussions” are taking place over the future of the debt-ridden club.