Political analysis firm Cambridge Analytica has announced it is closing down following the scandal that involved data being harvested from millions of Facebook accounts.

The company admitted making mistakes over the misuse of data from Facebook accounts but said it had "unwavering confidence that its employees have acted ethically and lawfully."

A Cambridge Analytica statement said "the siege of media coverage has driven away virtually all of the Company's customers and suppliers."

It added:"As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the Company into administration."