Trump administration has paid $20bn in tariff refunds, with $65bn more to come

Refunds came after the supreme court ruled Trump overstepped his authority in enacting sweeping tariffs

Why is Ferrari facing such a backlash to its first electric car?

The Italian marque has broken with the past with its four-door, €550,000 Luce and traditionalists are furious

60 Minutes journalist accuses CBS News of penalizing her after contract not renewed

Sharyn Alfonsi confirms contract expiration after decrying network over ‘the spread of corporate meddling’ last month

Manchester United take £22m hit from sacking of Ruben Amorim

On-pitch performance and cost-cutting help to halve pre-tax losses to £18m in the first nine months of the year

Australians with disabilities copped the biggest cuts in the budget. Yet conservative media’s heart bleeds only for the wealthy

The reaction to the budget has revealed Australia’s warped priorities, with the appalling inequality in dental care among the issues actively ignored

Oil price drops as Iran state media releases detail of draft peace deal with US – as it happened

Rolling coverage of the latest economic and financial news

UK heatwave triggers price rises for hot tubs and air conditioning units

Of 11 seasonal items in Guardian price comparison, six hit highest price in last three months, with some nearly doubling in price in last week

Tony Blair is strong on diagnosis, deluded on prescription: Britain’s ills can’t be fixed by him

The former PM’s essay rightly calls for a coherent economic plan, but then sets too much store by AI – and a worldview stuck in the past, says Guardian columnist Larry Elliott

Samsung memory chip staff in line for £310,000 bonuses after AI profit-sharing deal

Agreement averts strike and shows latest impact of AI boom as two more chipmakers join $1tn club

Energy price cap in Great Britain to rise by 13% from July

Average gas and electricity bill to jump to £1,862 a year from July until end of September, in part because of Iran war

Flying Tiger snapped up by Modella Capital amid fears for its future

UK private equity investor with reputation for hard-nosed restructuring says it is backing existing management

Fired BP chair disputes oil company’s claims of poor conduct

Albert Manifold says he was removed without warning and ‘will not allow a false narrative to go unchallenged’

Lidl overtakes Morrisons to become fifth largest supermarket in Great Britain

German-owned discounter’s sales rise 8.8% year on year as households seek ways to keep bills down

The establishment reaction to Andy Burnham’s rise is a sign of the fight to come

The old settlement will not politely bow out for its replacement – which is why progressives must take action on these three fronts, says Labour MP Clive Lewis

Gina Rinehart bankrolls purchase of 10% stake in Seven network owner Southern Cross Media

The $26m deal involving media executive Bruce McWilliam signifies return to media business for mining billionaire after previous holdings in Fairfax and Ten