Pound calm after Starmer backs Reeves, following bond sell-off – business live

Rolling coverage of the latest economic and financial news, as economists predict that Wednesday’s sell-off has strengthened Reeves’s position

Nearly 1,000 Britons will keep shorter working week after trial

All 17 businesses in six-month pilot to continue with either four-day week or nine-day fortnight

Capital gains for the rich and persistent gender pay gaps: what we can learn from the ATO’s annual tax statistics

Data shows negative gearing remains the favourite of high-income earners, while most Australians’ super balances fall short of what is needed for a ‘comfortable retirement’

London is leaving the door wide open to private equity raiders

KKR’s acquisition of Spectris at 96% premium sums up the failings of the UK stock market in a nutshell

UK watchdog threatens Ticketmaster with legal action over way Oasis tickets were sold

Only days before reunion tour begins, CMA raises concerns that fans may have been misled by company

UK financial watchdog expands bullying rules to 37,000 City firms

Wider range of firms must report harassment by senior employees to FCA as it seeks to prevent ‘rolling bad apples’

If AstraZeneca goes to the US, it will be a major blow for London and Labour

Move would deprive LSE of its biggest star and could topple a key pillar of the government’s industrial strategy

Santander takeover of TSB is boost to Reeves as she fights to keep City’s trust

Purchase spares chancellor potential embarrassment of the Spanish high street lender giving up on UK

UK bond yields rise sharply amid speculation over future of Rachel Reeves

Cost of government borrowing leaps as investors take fright from PMQs, before falling back as No 10 says chancellor staying in post

How Trump’s bill will supercharge mass deportations by funneling $170bn to Ice

Critics warn the staggering sum dedicated to the agency in the bill will threaten humanitarian protections and disrupt the economy

Heathrow fire caused by preventable fault, report finds, as Ofgem launches investigation into incident – as it happened

Fire caused by ‘catastrophic failure’ on one of transformer’s high voltage bushings, a ‘technical fault’ most likely caused by moisture and first detected in 2018

Heathrow substation fire ‘caused by fault first identified seven years ago’

Ofgem opens investigation into National Grid as report finds incident that cut airport power was preventable

Former UK civil service chief calls Xi Jinping a ‘dictator’ over Taiwan threats

Comments from Simon Case come as UK defence review highlights Chinese military exercises around Taiwan as driver of global instability

Where does the welfare bill climbdown leave UK public finances?

With £6.25bn in planned savings now shelved, the government faces awkward choices on how to plug gap

EU targets 90% cut in emissions by 2040 as green groups cry foul

Anger as long-awaited announcement of cuts against 1990 pollution levels allows for foreign carbon credits