Britain said it was withdrawing its legal challenge to a European Union limit on bankers' bonuses because it was "unlikely to succeed".
In a statement Chancellor George Osborne said: "I'm not going to spend taxpayers' money on a legal challenge now unlikely to succeed.
"These rules may be legal but they are entirely self-defeating, so we need to find another way to end rewards for failure in our banks."
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The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.