U2's manager Paul McGuinness issued a short statement today, revealing that the band are in the studio and working on new material.

'U2 would like to clarify that, contrary to certain speculation in the press, they will be neither touring Europe this summer, nor splitting up.' said the statement. 'Instead, they are spending time in the studio working on new material for a possible release later this year.'

That's all for now, more as we get it.