US President Donald Trump has stated that he intends to take legal action against the BBC over how his speech was edited by Panorama.

Speaking to reporters on board Air Force One, Trump said: We'll sue them for anywhere between a billion and $5bn probably sometime next week.

Trump plans to discuss the issue with UK Prime Minister Sir Keir Starmer over the weekend. The BBC issued an apology but affirmed that it would not provide financial compensation, addressing criticism over an edit that allegedly gave the wrong impression that Trump called for violent action.

Earlier in the week, Trump's legal team had issued a threat of a $1 billion lawsuit unless the BBC issued a retraction and apology by a specified deadline. This controversy has already caused leadership changes within the BBC, as both director general Tim Davie and head of news Deborah Turness resigned following the incident.

As of now, legal action had not been filed according to public court records, and federal and state courts in Florida are closed for the weekend.

This is a breaking news story and will be updated shortly.