UK 30-year borrowing costs hit highest since 1998 amid oil price surge and political uncertainty – as it happened

Long-term UK borrowing costs hit 28-year high on expectations of higher inflation, and speculation that local elections could prompt leadership challenge

UK homebuyers face worst mortgage affordability since 2008, data shows

‘Least affordable’ areas mainly in London commuter belt, UK Finance finds, with data not taking Iran war into account

World ‘unprepared’ for next pandemic as countries fail to agree on sharing information, tests and vaccines

Finalisation of pact governing global response to disease outbreaks delayed as talks on how to share benefits stall

Rachel Reeves and Scott Bessent argued in person about Iran war, sources say

UK chancellor said to have told US treasury secretary she did not like his tone during meeting in Washington in April

HSBC profits fall amid $400m fraud-related charge and Iran war

London-headquartered bank’s shares slide as it sets aside an extra $300m to cover effects of Middle East conflict

New threat to Labour spending plans as UK long-term borrowing costs hit highest level since 1998

Inflation fears fuelled by Iran war and renewed uncertainty over Starmer’s leadership prompt bond sell-off

UK electric car sales leap ‘could be hit by Iran war inflation and energy price rises’

BEV sales jumped nearly 60% in April, taking total electric car registrations to more than 2m, says SMMT

Australians are poorer because of war on the other side of the world – Michele Bullock’s logic is hard to fault

In sobering comments, the RBA governor forecasts economic malaise due to the global fuel shock. Not recession but higher prices, lower growth and wages that don’t keep pace with inflation

Vodafone to take full control of UK mobile operator in £4.3bn deal

Hong Kong conglomerate CK Hutchison agrees to sell 49% stake as it attempts to reshape its portfolio

Reform UK’s immigration policies are a significant risk to the UK economy

An exodus of workers will be damaging – and electoral change might help Britain escape instability and low growth

‘There is a good deal of fear’: what would a Labour leadership challenge mean for bond markets?

Rayner and Burnham are trying to gain markets’ confidence amid concerns they could loosen fiscal rules if they replace Starmer

Reversing Thatcher’s failed legacy of privatisation can be a Labour vote-winner. If you see Keir, tell him

Andy Burnham’s Manchesterism project is still a work in progress. But the future of centre-left politics in Britain may rely on its promise of ‘rolling back the 80s’, says Guardian associate editor Julian Coman

Concierge firm co-founded by queen’s nephew went on ‘ill-timed’ hiring spree before Iran war

Quintessentially almost quadrupled staff in Middle East and Asia less than year before wealthy began to flee Gulf

Jaguar Land Rover could have shifted production from UK without £380m battery subsidy, officials warned

Government officials said in December that Britain’s largest automotive employer could lead exodus from UK

Next Scottish government faces ‘really difficult’ spending choices, economists say

Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challenge