44 h. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

45 h. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits fresh record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

46 h. ago UK manufacturers hit by largest drop in orders since 2020; Oil price jumps after Rosneft and Lukoil sanctioned – business live

British manufacturers see the weakest prospects for orders since Covid-19 pandemic, CBI reports, after demand weakened in last three monthsYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, ...

Economics

50 h. ago Oil price jumps after US sanctions Russia’s Rosneft and Lukoil; White House considers software curbs on China – business live

Rolling coverage of the latest economic and financial newsThe oil price has jumped after the US has sanctioned Russia’s two largest oil companies to increase pressure on the Kremlin to negotiate an end to its war against Ukraine.The White House’s new measures against Rosneft and Lukoil are the US’s first sanctions against Russia since Trump’s return to office in January. All assets belonging to the two companies in the US have been frozen, and US companies and individuals will be barred from doing business with them. Continue reading...

Events

69 h. ago Trump’s call to freeze Ukraine conflict at current frontlines is ‘good compromise’, says Zelenskyy – Europe live

Ukrainian president’s comments come amid suspension of planned US-Russian summit and fresh attacks on Kyiv and KharkivChildren among six killed in Russian attack on KyivRussia said on Wednesday that preparation for a presidential summit between Vladimir Putin and Donald Trump was still continuing, despite the latter announcing it had been shelved (see 10.30am BST).“We are saying that preparations for a summit are continuing,” Russian deputy foreign minister Sergei Ryabkov was quoted as saying by the state TASS news agency.I want to officially confirm: Russia has not changed its position compared to the understandings that were reached during the Alaska summit. Continue reading...

Politics

4 d. ago Trump says he doesn’t think Ukraine will win back land taken by Russia during war – live

US president says ‘anything can happen’ in Russia-Ukraine war as he signs rare earth minerals deal with Australian prime ministerThe Senate will vote, for the 11th time, on a House-passed funding bill that would reopen the government at 5.30pm today.As the government shutdown enters its 20th day, there is little end in sight. The lower chamber is still out of session, as both parties continue to trade barbs over the lapse in funding. Continue reading...

Politics

5 d. ago War in Gaza caused big political shifts, and more are likely on the road to peace

Trump’s 20-point plan is forcing Middle East rivals to set aside differences and collaborate after years of competitionMiddle East crisis – live updatesIf the war in Gaza had dramatic consequences across the Middle East, overturning long-held assumptions, resetting the geopolitical map and provoking massive shifts in public opinion, any durable peace is likely to have equally momentous effects.Some counsel caution. Continue reading...

Politics

7 d. ago Trump Zelensky LIVE: 'Nuclear war' warning as Donald faces major Ukraine choice

Donald Trump and Volodymyr Zelensky's meeting comes just months after the two presidents battled it out in the Oval Office in an explosive exchange that abruptly ended previous negotiations

Events

9 d. ago Global government debt on course to hit 100% of GDP by 2029, IMF warns

Ratio would be highest since aftermath of second world war, with UK among G20 countries forecast to peak aboveBusiness live – latest updatesGovernment debt across the world is on course to hit 100% of global gross domestic product (GDP) by 2029, according to analysis by the International Monetary Fund, the highest level since the aftermath of the second world war.In its Fiscal Monitor report, the IMF said aggregate government debt had risen more rapidly than expected before the Covid pandemic, when policymakers stepped into protect citizens and bail out hard-hit businesses. Continue reading...

Events

1 week ago Zelenskyy urges world leaders not to lose momentum for finding peace, and says the war in Europe can also be ended – Europe live

Ukrainian leader expresses hope amid Trump’s Gaza deal, saying ‘it brings more hope for peace in other regions’The Kremlin said on Tuesday it welcomed US president Donald Trump’s desire to focus on the search for a peace deal to end the fighting in Ukraine after achieving a ceasefire in Gaza and hoped he would be able to push Kyiv towards a settlement.Addressing the Israeli Knesset a day earlier after brokering a deal between Israel and Hamas, Trump spoke of wanting to get a deal done with Iran over its nuclear programme, but said he would turn his attention to trying to end the war in Ukraine first.We are already well acquainted with Mr Witkoff; he is effective, has proven his effectiveness now in the Middle East, and we hope that his talents will continue to contribute to the work already under way in Ukraine.The Russian side remains open and ready for peaceful dialogue, and we hope that the influence of the United States and the diplomatic skills of President Trump’s envoys will ...

Politics

1 week ago Gaza ceasefire live: Trump says ‘war is over’ as he heads to Middle East for release of hostages

Israeli prime minister says there are ‘very great security challenges ahead of us’ but expects hostages will be released tomorrowIsraeli prime minister, Benjamin Netanyahu, has said that Israel is ready for the “immediate” reception of all Gaza hostages.“Israel is prepared and ready to immediately receive all of our hostages,” he said in a statement after a meeting with the coordinator for the hostage coordinator Gal Hirsch. Continue reading...

Events

1 week ago Hostage release LIVE: Donald Trump says ‘war is over’ as he flies to Israel

As part of a ceasefire deal, Hamas has agreed to release all living hostages held in Gaza, while Israel will release about 2,000 Palestinians detained in their prisons

Politics

2 w. ago Gaza ceasefire plan live: Hamas chief negotiator says group received guarantees that war has ended

Khalil al-Hayya says US, Arab mediators and Turkey gave assurances that war ‘has ended permanently’; Israel’s security cabinet has yet to publicly approve the dealFull report: First phase of deal to end war in Gaza agreedWhat we know so far about the dealFamilies of Israelis held hostage in Gaza gathered in what has come to be known as Hostage Square in Tel Aviv after the announcement.“President Trump, thank you very much. We thank him, our children will not have returned home without him,” said Hatan Angrest, whose son Matan is among the hostages. Continue reading...

Events

2 w. ago Five people killed after Russian missile and drone attack hits Lviv

Ukraine's President Volodymyr Zelensky said Russia had launched more than 50 missiles and around 500 attack drones overnight Saturday and into Sunday morning.

Events

2 w. ago Five killed and ten injured after Putin sends 50 missiles and 500 drones in night of hell

This is a breaking news story and is being constantly updated by our reporters as the breaking news story develops

Events

3 w. ago Europe in ‘most dangerous situation’ since second world war, Danish PM warns

Mette Frederiksen tells EU leaders all countries are affected by ‘Russian hybrid war’ via drones or sabotageEurope live – latest updatesEurope is in its “most difficult and dangerous situation” since the end of the second world war, Denmark’s prime minister has said at an EU summit dedicated to advancing the continent’s battle readiness by the end of the decade.Mette Frederiksen is hosting EU leaders in Copenhagen for talks on aiding Ukraine and firming up European defence projects intended to ensure the continent is ready to deter invaders by 2030. Continue reading...

Events

3 w. ago Europe ‘in most difficult and dangerous situation since second world war,’ Danish PM warns – Europe live

Mette Frederiksen says she backs the European Commission’s proposal for a reparation loan for Ukraine, secured on frozen Russian assetsSiliņa says the EU should move on drones very quickly, as she rejects some criticism that fully developing the bloc’s “drone wall” could take up to three-four years.“We don’t need three years, and I believe we can do it in a much shorter time.It just depends on the leaders [if] we can agree on a much shorter time, because with drones, how they’re developing so fast, three years is too long.” Continue reading...

Events

3 w. ago Danish PM warns security situation in Europe will get worse and more serious – Europe live

Mette Frederiksen says Europe faces threats arising from the ‘real war’ in Ukraine and a new, broader hybrid warin PalermoA flotilla seeking to break Israel’s aid blockade of Gaza said on Wednesday that several of its boats had been approached by patrol vessels and a submarine, as crews braced for an Israeli raid. Continue reading...

Events

3 w. ago Trump claims US faces ‘invasion from within’ in address to military leaders after Hegseth declares war on diversity efforts – live

US president tells hundreds of generals and admirals in Virginia they will ‘straighten out’ US cities after defense secretary rails against ‘fat troops’Hegseth declares war on racial and gender diversity efforts in US militaryThe US government is hurtling towards its first shutdown in six years, with no signs congressional leaders are near agreement on legislation to continue funding beyond the Tuesday night deadline to prevent workers from being furloughed and agencies from shutting their doors.Congress’s Republican majority is pushing legislation to fund the government through 21 November, but Democrats have refused to vote for it unless it includes a series of concessions centered on healthcare. Continue reading...

Events

3 w. ago Zelenskyy condemns ‘vile’ and deadly Russian strikes on Ukraine; drones spotted over Danish military sites – Europe live

Twelve-year-old girl among those killed in Kyiv; unidentified drones spotted over Danish military bases on Saturday nightIn an address at the UN general assembly in New York on Saturday, Moscow’s foreign minister Sergei Lavrov warned that “any aggression against my country will be met with a decisive response” but insisted Russia has no intention of attacking EU or Nato member states.In a wide-ranging speech, Lavrov said threats against Russia by western countries were becoming “increasingly common”. Continue reading...

Events