Iron will: Australia’s richest person counts the cost as court orders she share mining millions with rival family

Gina Rinehart, who’s been called Australia’s ‘female Donald Trump’, has long fought claims from the family of her father’s business partner – as well as her own children

Air Canada temporarily suspends some flights to New York and other locations

Separately, Spirit Airlines reportedly seeks emergency US government funds as Iran war keeps aviation fuel costs high

Rachel Reeves to raise windfall tax on low-carbon electricity generators

Chancellor aims to curb households’ rising bills as she consults on reforms to weaken link between gas and electricity prices

Oil price drops below $90 a barrel after Iran says strait of Hormuz is open

Gas price also falls and markets rise amid hopes Donald Trump will succeed in reaching deal with Tehran

Questions raised over whether £3.8m government grant awarded to Wrexham AFC was lawful

Exclusive: The club, owned by Hollywood stars Ryan Reynolds and Rob Mac, received the grant without a contract or final state aid assessment in place

Oil tumbles 10% and stock markets rally as Iran declares strait of Hormuz ‘completely open’ – as it happened

Rolling coverage of the latest economic and financial news, as Brent crude tumbles below $90 a barrel

Average new UK electric car price is now lower than petrol vehicles

Autotrader says average EV cost is £785 cheaper, in an important milestone in the move away from fossil fuels

UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

Adult video platform to sell minority stake to increase stability after death of its owner Leonid Radvinsky

Employees at first ever Starbucks store seek to unionize amid fight for contract

Store opened in 1971 in Seattle’s Pike Place Market joins growing unionization campaign across the coffee chain

Richard Desmond loses £1.3bn damages battle over national lottery licence

Media tycoon vows to appeal after dismissal of action against Gambling Commission for awarding Allwyn the franchise

Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool

Release of new Claude model, so far limited to US firms, will expand to British institutions in coming days

Netflix co-founder Reed Hastings to leave streaming service

Chair’s decision to not seek re-election ‘not as a result of any disagreement’, company says in filing

Cuts to overseas aid will worsen shocks to global economy, David Miliband says

Exclusive: Former UK foreign secretary says poor and rich countries alike will be hit amid humanitarian crisis sparked by Iran war

Track Australia’s fuel prices, service station outages and shipments in charts

How much fuel does Australia have left today, and when could we run out? Check how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country

Ukraine war briefing: €90bn EU loan for Ukraine to be released in second quarter

EU economy commissioner says Iran war is feeding Russia’s war machine; Trump condemns massive strikes on Ukraine. What we know on day 1,514