US treasury secretary Scott Bessent calls for half-point interest rate cut at next Fed meeting – business live

Bessent calls for big rate cut in September after steady US inflation, sending global stocks rallying

Dairy farmers say worker shortage is threatening UK food security

The Arla cooperative says five in six farmers receive very few or zero applications for job vacancies

NGOs urge Nandy to halt sale of Telegraph over China links

Letter from rights groups says RedBird Capital’s proposed takeover threatens media pluralism and transparency

The Guardian view on Labour’s feelgood economy: it’s not for everyone – especially the poorest

Editorial: Ministers boast of rising wages. But for low earners, the cost of living crisis endures – with food and rent inflation erasing any pay gains

Trump’s China trade truce extension spurs market rally

Bourses in Australia and Japan hit record highs as hopes grow of trade deal within latest 90-day pause

Treasury targeting inheritance tax reforms to help plug UK deficit

Exclusive: Chancellor also looking at tweaks to capital gains tax to try to bridge £40bn-plus spending gap before budget

UK employers cut back on bonuses and hiring as economic slowdown hits jobs market

Unemployment remains steady but vacancy rates drop and pay growth slows

Three more interest rate cuts may be on the way. But when is increasingly looking like anyone’s guess

The prospect of lower rates is good news, but Michele Bullock’s vision for the future appears blurrier

US inflation unexpectedly stays at 2.7%; UK ministers appoint advisers for Thames Water collapse ‘contingency plans’ – as it happened

US and China extend 90-day tariff truce; UK labour market slows as employers hold off hiring

UK visa services firm sues ex-boss for £6m over alleged improper use of profits

Exclusive: Ecctis alleges Cloud Bai-Yun used profits from government contract to buy out her shares in breach of fiduciary duty

Conservatives not close to recognising ‘how badly placed they are’, says Gauke

Former minister says Tories are ignoring heartland voters and risk losing ground to Reform in next election

Club World Cup and summer tennis bring in the bets for Entain

Gambling group delivers better-than-expected half-year results, helping it to brace for looming tax rises

Price of gold eases after Trump rules out tariffs on imported bars

Metal traders say crisis averted after US president clarifies on social media that gold bars are duty-free

US prices continued rise in July as Trump tariffs impact consumer costs

Prices were 2.7% higher last month compared with a year ago, and core inflation went up at a higher pace than what was seen in June

‘A literal gut punch’: Missouri workers devastated by Republican repeal of paid sick leave

Voters approved sick leave mandate by 58% but lawmakers are caving to lobbying by the state’s chamber of commerce