10 h. ago FTSE 100 closes near record high, and oil price falls, on reports Iran seeks talks with Israel – as it happened

Rolling coverage of the latest economic and financial newsMiddle East crisis live: Iran and Israel trade attacks amid reports Tehran could be seeking talksIran and Israel crisis: what does it mean for the price of oil?Over at the Paris Air Show, a row has broken out after four Israeli company stands at the trade fair were shut down.According to Reuters, French authorities ordered that the four stands should be closed for “displaying offensive weapons”, after not complying with an order from a French security agency to remove offensive or kinetic weapons from the stands.“This outrageous and unprecedented decision reeks of policy-driven and commercial considerations.“The French are hiding behind supposedly political considerations to exclude Israeli offensive weapons from an international exhibition - weapons that compete with French industries.” Continue reading...

Politics

16 h. ago Markets stabilise as investors fear ‘adverse shock’ from higher oil prices – business live

Rolling coverage of the latest economic and financial newsOver at the Paris Air Show, a row has broken out after four Israeli company stands at the trade fair were shut down.According to Reuters, French authorities ordered that the four stands should be closed for “displaying offensive weapons”, after not complying with an order from a French security agency to remove offensive or kinetic weapons from the stands.“This outrageous and unprecedented decision reeks of policy-driven and commercial considerations.“The French are hiding behind supposedly political considerations to exclude Israeli offensive weapons from an international exhibition - weapons that compete with French industries.” Continue reading...

Economics

19 h. ago Oil price rise risks ‘adverse shock’ to global economy – business live

Rolling coverage of the latest economic and financial newsThe FTSE 250 index of medium-sized companies is also rising this morning, up 38 points (+0.2%) at 21,212 points.Lender Metro Bank are the top riser, up 8.5%, after the Sunday Times reported that it had received a takeover approach from Pollen Street Capital. Continue reading...

Economics

56 h. ago Leaders at G7 summit need to challenge Trump without ganging up on him

America’s allies fear US policy is risking a global recession but they have to take care not to alienate the presidentThe G7 summit in Kananaskis, Canada is likely to be dominated by efforts to persuade Donald Trump to dilute an America-first strategy, which world leaders fear may put the global economy into recession, and entrench the war in Gaza, Ukraine and Iran – three conflicts Trump once promised to solve.The summit represents the first collective opportunity for western leaders to challenge Trump with the consequences of his unilateralism, but with the world on a knife-edge, the six leaders cannot risk being seen to gang up on him and spark a presidential explosion. Continue reading...

Politics

3 d. ago Middle East upheaval comes at a bad time for the global economy

This latest instability is stagflationary and may add to the erosion of the US-led economic order

Politics

3 d. ago Oil surges after Israel’s attack on Iran, risking ‘stagflationary shock’ – business live

Rolling coverage of the latest economic and financial newsIsrael launches strikes on ‘dozens’ of targets in Iran, targeting nuclear programmeBudget airline Wizz, whose shares are down almost 5% today, says it has suspended flights to Tel Aviv and re-routed flights affected by closed airspace in the region for the next 72 hours.The jump in the oil price today, following Israel’s attack on Iran, is a “bad shock for the global economy at a bad time”.For the average consumer, they will be looking at more income uncertainty. They will be looking at higher petrol prices, and in the UK, they’re probably looking now at higher risk of taxation in October.So whatever way you look at it, it’s negative short term, it’s negative longer term. Continue reading...

Events

6 d. ago Citing trade wars, the World Bank sharply downgrades forecast for global economic growth to 2.3%

President Donald Trump’s trade wars are expected to slash economic growth this year in the United States and around the world, the World Bank forecast Tuesday

Economics

6 d. ago 2020s on course to be weakest decade for global economy since 1960s, says World Bank

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffsBusiness live – latest updatesThe World Bank has cut its forecasts for growth, blaming Donald Trump’s trade war and says the 2020s are on course to be the weakest decade for the global economy since the 1960s.In its twice-yearly Global Economic Prospects report, the Washington-based lender reduced its forecast for global GDP growth this year to 2.3%, down from 2.7% in January. Continue reading...

Economics

7 d. ago US and China are holding trade talks in London after Trump's phone call with Xi

High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy

Politics

7 d. ago Pitbull review – like a children’s party, but with loads of booze

Co-Op Live, ManchesterWith a hedonistic seize-the-day message, the pop-rapper resembles a cult leader or motivational speaker – and his followers are willing to overlook the faults in his live showPitbull is trying to give over 20,000 people a language lesson. “I want to teach you a little bit of Spanish,” he says to the crowd, about 90% of whom are dressed in Mr Worldwide cosplay of bald caps, aviators and squiggly hand-drawn facial hair. The phrase he’s teaching? “Yo no quiero agua, yo quiero bebida”, which in English translates to “I don’t want water, I want a drink”. As people used to say: yolo.This is the vibe of Pitbull’s Party After Dark tour, which returns to the UK for its second run this year. It’s a relentless ride through the era of hedonistic and carefree EDM pop that sprouted up after the 2008 financial crisis, and given renewed economic uncertainty and horrific global events, it’s unsurprising that people are still seeking escapism. Why shouldn’t that be delivered by ...

Society

8 d. ago Pope Leo criticises ‘exclusionary mindset’ of nationalist political movements

During Sunday Mass in St Peter’s Square, the pope asked that God ‘open borders, break down walls (and) dispel hatred’Pope Leo has criticised the emergence of nationalist political movements and their “exclusionary mindset”, without naming a specific country or leader.Leo, the first pope from the US, asked during a Mass on Sunday with tens of thousands in St Peter’s Square that God would “open borders, break down walls (and) dispel hatred”. Continue reading...

Politics

1 week ago ‘Stress crisis’ in UK as 5m struggle with financial, health and housing insecurity

Exclusive: Levels of ‘multi-stress’ at highest since 2008 crash, study says, with people feeling profoundly powerlessMore than 5 million UK adults are experiencing a triple whammy of financial, health and housing insecurity as British households hit levels of “multi-stress” not seen since the global economic crash well over a decade ago, research shows.One in 10 working-age adults are juggling low income and debt, insecure tenancies and high rents, and problems accessing NHS care. They are at least twice as likely as the rest of the population to report mental stress, sleeplessness and isolation. Continue reading...

Events

1 week ago The US is heading for a sharp economic downturn, influential global organization warns

Donald Trump's aggressive trade policies has sent the global economy into a downturn, the OECD warned in a major report on Tuesday. 

Events

1 week ago UK growth downgraded as global economy dragged by Trump trade wars

In the UK, the economy is expected to grow by 1.3% this year, with the OECD cutting its previous forecast of 1.4%.

Politics

1 week ago Global economy to slow as Donald Trump’s trade wars hit growth, OECD warns – business live

Rolling coverage of the latest economic and financial news, as OECD forecasts global growth will slow to 2.9% in 2025 and 2026UK will slump to 1% growth next year as Trump tariffs bite, says OECDUS firms say Trump trade war is hitting production as dollar nears three-year lowUS economic growth is expected to slow markedly to 1.6% in 2025 and 1.5% in 2026, the OECD says.That’s relatively weak growth by recent standard, and slower than the “robust” growth of 2.8% recorded in 2024.Annual headline inflation is set to pick up to 3.9% by end-2025 due to higher import prices but is expected to ease throughout 2026, aided by moderate GDP growth and higher unemployment.Risks to the growth projection are skewed to the downside, including a more substantial slowing of economic activity in the face of policy uncertainty, greater-than-expected upward pressure on prices from tariff increases, and large financial market corrections. Continue reading...

Events

1 week ago Global economy set for weakest growth since Covid, OECD warns

Organisation slashes forecasts and says US will be hit particularly hard

Events

2 w. ago China accuses US of ‘seriously violating’ trade war truce – business live

Rolling coverage of the latest economic and financial newsTrade war fears don’t seem to have hurt the UK housing market last month.Lender Nationwide has reported that the average house price rose by 0.5% duing May, reversing most of the 0.6% fall recorded in April.“Despite wider economic uncertainties in the global economy, underlying conditions for potential home buyers in the UK remain supportive.“Unemployment remains low, earnings are rising at a healthy pace (even after accounting for inflation), household balance sheets are strong and borrowing costs are likely to moderate a little if Bank Rate is lowered further in the coming quarters as we, and most other analysts, expect.“What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does.” Continue reading...

Events

2 w. ago China has ‘totally violated’ its trade agreement’ with the US, says Trump

President took to social media to denounce Beijing in the latest development in his ongoing tariff warDonald Trump declared that China has “totally violated its agreement” against the US on trade just two weeks after the countries reached a deal, raising fears that the trade war will continue to rattle the global economy.“I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation,” Trump wrote on Truth Social on Friday morning. “Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US.” Continue reading...

Politics

2 w. ago World faces new danger of ‘economic denial’ in climate fight, Cop30 head says

Exclusive: André Corrêa do Lago says ‘answers have to come from the economy’ as climate policies trigger populist-fuelled backlashThe world is facing a new form of climate denial – not the dismissal of climate science, but a concerted attack on the idea that the economy can be reorganised to fight the crisis, the president of global climate talks has warned.André Corrêa do Lago, the veteran Brazilian diplomat who will direct this year’s UN summit, Cop30, believes his biggest job will be to counter the attempt from some vested interests to prevent climate policies aimed at shifting the global economy to a low-carbon footing. Continue reading...

Economics

2 w. ago UK retail confidence plummets as sales fall; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial newsEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record high reached in February. More positive vibes are pulsing about the outlook for the global economy, with hopes that more scores can b...

Economics