Oil surges after Israel’s attack on Iran, risking ‘stagflationary shock’ – as it happened

Rolling coverage of the latest economic and financial news

Boeing experts and UK and US aviation officials join Air India crash investigation

Unexplained descent of Boeing 787 before deadly crash has cast fresh shadows over US aircraft manufacturer

Tui says ‘overtourism’ is fault of short-term let companies not hotel industry

Travel operator hits back at Airbnb’s claim that it is being made a ‘scapegoat’ for problems in some holiday hotspots

‘Transformative’: the UK lab working on a way to halt genetic type of dementia

AviadoBio’s breakthrough therapy hopes to stop progress of FTD, which is usually diagnosed in people under 65

Oil and gold prices soar after Israel’s attacks on Iran

Brent crude hit highest level since January amid escalation of conflict in Middle East, while stock markets fall

P&O Ferries hires tiny four-person accounting firm to replace KPMG

Move raises questions over governance of ferry company and ‘auditor independence’ of accounting firm

Credit Suisse was ‘warned’ about Greensill three years before firm collapsed

Anonymous messages questioned judgment of senior managers in dealing with Greensill, says Swiss regulator

Does Labour’s spending review signal a return to austerity?

Rachel Reeves is increasing overall budgets after deep Tory cuts, but some departments face bigger spending cuts than others

Demob-happy IFS director tears into Rachel Reeves’s spending review

Blistering analysis by outgoing chief concludes chancellor likely to end up ‘gnat’s whisker’ away from tax rises

Dollar slides to three-year low while FTSE 100 hits record high

Investors turn away from weakening US economy and erratic policy after Trump repeats tariff threats

First crash of Boeing’s 787 model comes weeks after $1.1bn 737 Max payout

Air India tragedy comes after Boeing agreed US justice department payment to avoid prosecution over 2018 and 2019 crashes

UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – as it happened

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record close

Rogue imports of ‘Dubai chocolate’ may threaten Britons with allergies, FSA says

Food Standards Agency says some bars of the pistachio-filled treat do not have reliable labels

UK politics: Reeves only a ‘gnat’s whisker’ from having to raise taxes in autumn, says IFS – as it happened

Institute for Fiscal Studies says Treasury figures for projected efficiency savings are not credible

Newly formed VodafoneThree vows to create thousands of jobs

Company aims to more than double its broadband business by 2034 as it upgrades network