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Rolling coverage of the latest and economic news, as US sells 30-year bonds at highest borrowing costs since 2001Gennadiy Goldberg, head of US rates strategy at TD Securities, agrees that the rise in US borrowing costs is “problematic” for the Trump Treasury, adding (via the FT):“They have to fund the government at more expensive levels.”“Investors are being asked to absorb a growing supply of government debt globally at a time when deficits remain large, inflation uncertainty persists

President signed memorandum giving private sector a role in fighting ‘transnational criminal organizations’Donald Trump signed a memo on Wednesday that aims to give private companies the power to carry out offensive cyber-attacks against foreign criminal entities.The president ⁠signed a ​national security presidential memorandum directing his administration to “leverage the capability and innovation of the private sector to help conduct these ⁠cyber operations under the direction, cont

Ethics experts and Democrats express alarm as Trump uses office to grow his personal fortune to ‘unprecedented’ level Donald Trump’s use of his second presidency to grow his personal fortune has alarmed legal and ethics experts and congressional Democrats as he has reaped an “unprecedented” $2.2bn in 2025 revenues by amassing big cryptocurrency holdings, benefiting from wealthy foreign interests, expanding his Truth Social business and more, while federal oversight of his actions has w

Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in MayThe UK economy is estimated to be 1.2% bigger than it was a year ago.Real GDP per person is estimated to have increased by 0.4% in the second quarter, up 1.0% compared with the same quarter a year ago.I know people are worried about the impact of the conflict in the Middle East on their cost of living, which has been too high for too long and it has added pre

GDP expanded by 0.4% in three months to June, down from 0.6% in the first quarter, says ONSEconomic growth slowed in the second quarter of the year, as the disruption unleashed by the Iran war began to take its toll, official figures show.The Office for National Statistics (ONS) said GDP expanded by 0.4% in the three months to June, down from 0.6% in the first quarter, in line with City economists’ expectations. Continue reading...

Exclusive: England ‘desperately unprepared’ for effects of crisis including water shortages and heatwavesUK heatwave live – latest updatesJust 20 staff are working on climate adaptation within a key government department tasked with protecting the environment and maintaining food security, a freedom of information request has revealed.The officials make up 0.3% of staff within the Department for Environment, Food and Rural Affairs. Continue reading...

Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentialsBusiness live – latest updatesConsumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK lifted summer spending.A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long

Company also announced a paid service for early access to president’s posts on policies to the social media siteDonald Trump’s media company – which owns the Truth Social platform favored by the US president – posted a $238m loss in the second quarter.Trump Media & Technology on Monday reported that losses in the three months through June came as the company branched into new ventures including crypto. The company’s new chief executive, Kevin McGurn, announced at a conference call

Problems after power failure at regional signalling centre likely to continue until noon with many crews and trains in wrong locationsBusiness live – latest updatesRail passengers are facing a second day of travel disruption across parts of north-west England, after a power failu

Ruling comes as part of second phase of landmark trial that found social media company enabled harm against usersA New Mexico court has ordered Meta, the parent company of Facebook, to pay $567m into a fund aimed at redressing adverse mental health impacts from the social media giant’s platforms.The Thursday ruling comes as a part of the second phase of a landmark trial the social media giant lost in March. At the time, a jury found that the company knowingly harmed children’s mental h

Culture secretary Lisa Nandy says she will not intervene in £85bn deal after securing guarantees on Channel 5The UK culture secretary, Lisa Nandy, has said she will not intervene in Paramount’s proposed acquisition of Warner Bros Discovery, removing one of the remaining obstacles

Average cost of a 30-second spot during tournaments airing on Fox was reportedly between $200,000 and $750,000Fox Corp, parent company of Fox News and the US broadcaster of the Fifa World Cup, reported revenue up 28% to $4.21bn in the fiscal fourth quarter, thanks largely to adve