Knickers in a twist: why M&S selling crotchless underwear isn’t as outrageous as it seems

Some have called it ‘S&M’, but partnership with Ann Summers is less a scandal than another step in a century of evolving underwear trends, experts say

Turn failing water firms into not-for-profit cooperatives, MPs and mayors tell PM

Labour politicians say mutualised model puts public in control without adding debt to government’s balance sheet

The tangled financial web at the heart of Reform UK

Nigel Farage’s £5m gift, the Cottrell family’s links and donations, and Richard Tice’s business dealings form part of an increasingly clear nexus of relationships

‘Proteinmaxxing’ could lead to higher prices for infant formula, say experts

Whey protein, a key infant formula ingredient, is in growing demand, partly linked to rising use of weight-loss drugs

ECB official warns climate crisis poses growing threat to ‘core financial stability’

Exclusive: As wildfires rage across Europe, Frank Elderson tells the Guardian nature loss poses a growing risk to the global economy

Justice department admits reflecting pool damage not caused by vandals as it moves to drop charges against Olympian – as it happened

US attorney in Washington DC moves to dismiss charges against David Hearn, telling court that documents indicated ‘damage was the result of flawed installation’

Bessent ‘to-do’ list shows proposal for US to buy $5bn-$10bn of Japanese yen

Treasury secretary’s notepad, photographed by Reuters on Friday morning, prompts questions over US plans

Adani to pay no company tax despite $1bn revenue from Queensland coalmine

Indian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royalties

‘It ain’t the same’: inside the bitter battle to free Ben & Jerry’s

Ben Cohen says his ice-cream company has been silenced by corporate ownership – and a boycott of Magnum brands could force a sale

Washington Post’s opinion editor resigns after just one year in role

Adam O’Neal did not give reason for his departure at end of August in another major shakeup at US publication

BP puts North Sea oil and gas business up for sale

Move will end six decades of production in area, as new CEO tries to simplify company and cut debt

Boss of £300m used-car firm was ousted after ‘orchestrated plan’ by investors, judge rules

Multimillionaire Peter Waddell is also found to have been properly dismissed from Big Motoring World for gross misconduct

Healey sets budget for late October, promising to ‘spread money and power’ around UK

Chancellor will have to find money for Burnham’s policies while sticking to fiscal rules as borrowing costs rise

Wildfire near Sizewell nuclear plant causes ‘total devastation’ to Suffolk landscape

Emergency crews say situation remains ‘dynamic’ as more than 100 firefighters battle Dunwich Heath blaze

UK petrol price hits Iran war high, adding to pressure on households

Average pump price reaches 160p a litre, while diesel is up 14.5p to 179p and forecast to increase to 185p soon