Nigel Farage’s Brexit Party has stormed to victory in the European election, riding a wave of anger at the failure of prime minister Theresa May to take the UK out of the European Union.

Meanwhile, chancellor Philip Hammond has warned that any successor to Theresa May who seeks to push a no-deal Brexit through parliament “cannot expect to survive very long”.

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Qatar’s sovereign wealth fund QIA has taken a £200m stake in Severn Trent, one of the UK’s biggest water companies.