Key TG Jones landlords back restructuring plan; oil price hits four-month low – as it happened

Rolling coverage of the latest economic and financial news

VW plans to cut up to 100,000 jobs and shut plants, report says

German firm reportedly considering doubling previously announced staff reductions amid Chinese competition

Sam Altman announces limited preview of GPT 5.6 in move that echoes launch of Anthropic’s Mythos

RJ Scaringe says firms focused on selling fossil fuel engines risk being ‘woefully behind’ on technology by end of decade

Economist Prof Mariana Mazzucato says governments must ‘get back their mojo’ and believe they can change the world

The broadcaster is keen not to antagonise viewers after hydration breaks proved unpopular at the football World Cup

Hundreds of graduates and interns at finance firm will now have to work in office at least three days a week

Three pumped storage hydroelectric power station sites in Scotland on list of 16 long-duration electricity storage plans

Ultrarich face backlash as billionaire tax in California makes it to the ballot and Americans organize for higher wages

Airport has also been ‘engaging closely’ with regulator to discuss cost of plan to build third runway

High temperatures make some workplaces dangerous, with economists warning disruption will dent growth

King Charles’s property management firm rakes in £1.2bn as it continues to benefit from offshore windfarm boom

Disney-owned ABC launched awareness campaign about two FCC investigations it faces, urging viewers to write in

Burnham is coming under pressure from some to ditch net zero targets but this could be highly damaging on many levels

The former Manchester mayor could be installed as prime minister in weeks if no other MP puts themselves forward