The multimillionaire Brexit backer Arron Banks has lost his libel action against the Observer and Guardian journalist Carole Cadwalladr, in a significant decision for public interest journalism.

Nigel Farage has withdrawn a claim that a campaign group pursued "violent and undemocratic means" before the start of a libel case over the comments.

Nigel Farage was this week forced into a humiliating legal climbdown, when he undertook in a settlement never to repeat false claims that the anti-racism charity and campaign group that I run, Hope Not Hate, pursued “violent and undemocratic means”.