5 h. ago Tesla’s EU sales slump continues; China’s premier warns global trade tensions ‘intensifying’ – business live

Rolling coverage of the latest economic and financial newsShares in UK defence Babcock have surged 13% at the start of trading, after it upgraded its medium-term forecasts and hailed a ‘new era’ for defence (see earlier post).After several turbulent sessions, the financial markets seem calm this morning, as the Israel-Iran ceasefire holds.‘’Optimism about the fragile ceasefire holding between Iran and Israel has bubbled through markets, lifting equities, but more doubts are now creeping in about the truce holding.Wall Street rose in a relief wave, pushing the S&P 500 close to record highs. Sentiment has held up in Asia and European indices largely look set for a positive start to trading. Nevertheless, a little more uncertainty is seeping in. A leaked report from US Intelligence casting doubt on the effectiveness of the US strikes in crippling Tehran’s nuclear capabilities, has led to some worries that military action could resume. Continue reading...

Events

5 h. ago Babcock hails ‘new era of defence’ as global threats prompt greater spending

The London-listed company reported higher profits and raised its financial outlook.

Events

6 h. ago Number of Brits who see US as a global threat doubles since Donald Trump came to power

President’s first few months in office have left fears about the US’ global role at an ‘all time high’ and rivalling China, Israel and North Korea

Politics

39 h. ago Keir Starmer makes major UK defence announcement as Middle East crisis spirals

Prime Minister Keir Starmer said Britain would meet this 'era of radical uncertainty' by pouring cash into defence and security as he jets to the NATO summit in the Hague

Events

47 h. ago The strait of Hormuz: how could Iran close it and why does it matter to global trade?

Iran’s parliament approved a measure to close the vital global trade route, through which more than a fifth of the world’s oil supply passes through dailyTrump floats regime change in Iran – follow it livePresident Donald Trump’s unprecedented decision to bomb three Iranian nuclear sites has deepened fears of a widening conflict in the Middle East.Joining Israel in the biggest western military action against the Islamic Republic since its 1979 revolution, the world is now bracing for Iran’s response. Continue reading...

Politics

54 h. ago Oil prices surge as Iran maintains threat to close global shipping route after Trump bombed its nuclear facilities

Brent crude futures were up $1.52 or 1.97 per cent to $78.53 a barrel as of 6am UK time. US West Texas Intermediate crude advanced $1.51 or 2.04 per cent to $75.35.

Events

58 h. ago The strait of Hormuz: what is it, and why does it matter to global trade?

Iran’s parliament approved a measure to close the vital global trade route, through which more than a fifth of the world’s oil supply passes through dailyTrump floats regime change in Iran – follow it livePresident Donald Trump’s unprecedented decision to bomb three Iranian nuclear sites has deepened fears of a widening conflict in the Middle East.Joining Israel in the biggest western military action against the Islamic Republic since its 1979 revolution, the world is now bracing for Iran’s response. Continue reading...

Politics

65 h. ago US bombing of Iran’s nuclear facilities is Trump’s biggest gamble yet as president

Much could go wrong for the US and the Middle East as Trump and Netanyahu pursue the disempowerment of Iran Middle East crisis – latest updatesDonald Trump, a self-confessed risk-taker, has taken the greatest gamble – not just with his political reputation and the future of the Middle East, but arguably with the whole concept of military intervention as a way to solve intractable geopolitical problems.If the US president succeeds – and there will be many rival interpretations and metrics of success in the weeks ahead – it is possible he will have disempowered Iran, and diminished the global influence of a regime that has for 40 years sponsored threats against the west. In the process his personal authority will have been enhanced, and his next three years in office will be a triumph that may exacerbate some of his worst authoritarian and impulsive traits. Continue reading...

Politics

6 d. ago Death toll from Russian attack on Kyiv rises to 28 – Europe live

More than 130 were injured in Tuesday’s attack on Ukrainian capitalAnd speaking of Russia’s impact on its neighbours, let’s quickly go to Miranda Bryant in the Nordics and see how the region monitors the global threat of war, terror and piracy on seas from its Maritime Cyber Resilience Centre.The European Commission has insisted there will be no return to Russian gas, as it published plans to phase out fossil fuel imports from its eastern neighbour by 2028. Continue reading...

Events

1 week ago WW3 fears in overdrive as UK government give defence spending boost over rising tensions

The Labour Government is planning on turning Britain into a 'defence industrial superpower' as the global security situation means a 'new era for defence and security'

Politics

1 week ago Defence spending to rise by £11 billion to 2.6per cent of GDP over next two years, Rachel Reeves announces

In the face of 'a new era' of threats, Ms Reeves said there must be 'a new era for defence and security'

Economics

2 w. ago Progress unravelled, and millions left vulnerable: how British aid cuts threaten British health too | Sarah Champion

The UK faces a critical choice: follow the global trend of disengagement or stand firm in backing health securityRight now, aid reductions across the globe are jeopardising decades of progress against preventable diseases, leaving millions of people vulnerable. This retreat from global health threatens to unravel hard-won advances against diseases we have nearly conquered.Polio, which paralysed hundreds of thousands of children annually just 40 years ago, has been eliminated in most parts of the world. Meanwhile, there has been a resurgence of diseases such as measles and cholera in populations besieged by conflict and climate emergencies.Sarah Champion is the Labour MP for Rotherham Continue reading...

Events

2 w. ago Cuts to UK’s global vaccination funding would risk avoidable child deaths, experts warn

Exclusive: Scientists also say any reduction in Foreign Office funding for vaccine alliance Gavi would harm UK’s soft powerAny cut in UK funding to a global vaccination group would damage soft power and could make British less resilient to infectious diseases, as well as causing avoidable deaths among children, leading vaccine and aid experts have warned.Scientists including Sir Andrew Pollard, who led the development of the Oxford-AstraZeneca Covid vaccine, said a major cut in money for the Global Alliance for Vaccines and Immunisation (Gavi) could also make the UK less able to respond to a future pandemic. Continue reading...

Events

3 w. ago Strategic defence review live: Starmer reveals largest increase in spending since Cold War as UK faces ‘new era of threat’

John Healey warns ‘new era’ for UK defence needed as ‘threats we face now more serious and less predictable than at any time since end of Cold War’

Events

3 w. ago Keir Starmer to give major defence speech TODAY and warns world is in 'new era'

Keir Starmer said Russia is not serious about peace and the UK has to be ready as he warned the world has entered a new era

Events

3 w. ago Minister's confusion on funding betrays the disarray at the heart of the MoD, by former British Army colonel PHILIP INGRAM

Keir Starmer is unveiling his Strategic Defence Review with great fanfare. It has been billed as a 'root and branch review' of our military policy, pointing the way to 'a new era for defence'.

Politics

3 w. ago Top defense officials say Ukraine war has blurred lines, exposing global threats

Top security officials say China and North Korea’s support for Russia in its war against Ukraine has exposed how lines between regions have blurred, and the need for a global approach toward defense

Events

3 w. ago Drones, AI and new technology will dramatically change nature of war, UK defence review to warn

MoD document expected to highlight dangers posed by Russia and China, and shortfall in UK troop numbersBritain is facing “a new era of threat” with drones, artificial intelligence and other technologies changing the nature of warfare more fundamentally than at any other point in history, the government’s strategic defence review is expected to conclude on Monday.The 130-page document written by three advisers to the prime minister, Keir Starmer, will warn of the “immediate and pressing” danger posed by Russia and is expected to try to draw heavily on lessons learned from the war in Ukraine. Continue reading...

Events

3 w. ago ‘New era of threat’ amid changing face of war, UK defence review to warn

MoD document expected to highlight dangers posed by Russia and China, and shortfall in UK troop numbersBritain is facing “a new era of threat” with drones, artificial intelligence and other technologies changing the nature of warfare more fundamentally than at any other point in history, the government’s strategic defence review is expected to conclude on Monday.The 130-page document written by three advisers to the prime minister, Keir Starmer, will warn of the “immediate and pressing” danger posed by Russia and is expected to try to draw heavily on lessons learned from the war in Ukraine. Continue reading...

Events

3 w. ago Nato rearmament could increase emissions by 200m tonnes a year, study finds

Exclusive: researchers say defence spending boosts across world will worsen climate crisis which in turn will cause more conflictA global military buildup poses an existential threat to climate goals, according to researchers who say the rearmament planned by Nato alone could increase greenhouse gas emissions by almost 200m tonnes a year.With the world embroiled in the highest number of armed conflicts since the second world war, countries have embarked on military spending sprees, collectively totalling a record $2.46tn in 2023. Continue reading...

Events