How to balance the UK books: six options open to Rachel Reeves

From spending cuts to tax rises, we rank possible routes to plugging the gap caused by Labour’s welfare climbdown

Trump celebrates tax bill passing, Reeves must boost headroom to £30bn, says ex-Bank of England deputy – as it happened

Rolling coverage of the latest economic and financial news, as Trump celebrates the passage of his flagship tax and spending bill

Songwriters ‘missing millions in royalties from more than 100,000 UK gigs’

Artists losing out as PRS for Music has collected cut of ticket sales for shows but does not know setlist

‘The bubble had to burst’: the inside story of the Lindsey oil refinery collapse

Prax Group’s sudden demise surprised some, but others saw ‘a house of cards’ built on a thirst for debt-fuelled growth

Labour’s first year: from voter opinion to market reaction – in charts

After a turbulent week to round off its first year, how have the past 12 months panned out for Keir Starmer’s government?

Rachel Reeves needs wider headroom against fiscal rules, ex-Bank of England deputy says

Charlie Bean says slim margin of £10bn means chancellor ‘has to neurotically fine-tune taxes to control OBR forecast’

‘Slapp addict’ Italian oil firm accused of trying to silence green activists

Eni has filed at least six defamation suits against journalists and NGOs since 2019 in what critics say is intimidation campaign

Trump says US to start sending tariff rates letters to trading partners

Letters to be sent to countries without a deal in place before end of 90-day pause on 9 July

‘An unjust transition’? Teesside locals divided over net zero after deindustrialisation

In the third in a series, the Guardian hears how Reform UK is targeting voters over green policies – which business says are bringing new jobs to the area

Japan walks line between recession and submission as it seeks to overcome Trump tariffs

Japanese negotiators have just days before the end of Trump’s 90-day pause on punishing tariffs to pull off a breakthrough

UK electric car sales up by a third in first half of 2025, preliminary data suggests

Battery electric car sales rose 34.6% in first six months of the year after strongest June for overall car sales since 2019

UK government ‘closely watching’ £120m legal claim against Vodafone

Ministers raise prospect of regulatory crackdown on sector over court case brought by 62 franchise operators

First-time buyers turn from rural areas to Britain’s regional cities

Number looking to move to urban centres up 16% in first five months of 2025 compared with same period in 2015

Crumbs! Biscuit museum’s Jaffa Cake display reignites old debate

Manufacturer sends pun-packed letter asking for exhibit to be removed, saying the clue to item’s status is in the name

US adds 147,000 jobs in June, surpassing expectations amid Trump trade war

Economists anticipated drop, but 8,000 new positions were added in June compared with May, with unemployment rate down to 4.1%