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Wealth of Britain’s 157 billionaires now equal to 22% of country’s GDP

This ‘ghost GDP’ shows how headline economic growth is increasingly disconnected from reality for most, says report

From Team Reeves to Manchesterism: Labour’s four economic camps explained

Wes Streeting or Andy Burnham could launch a leadership bid – here are policies from which they could choose

British Gas faces record £112m settlement over prepayment meter scandal

Redress to customers for force-fitting devices in homes includes £20m penalty and £70m of debt write-offs

Tesco boss’s pay rises by more than £1m to £10.8m after market share surge

Ken Murphy’s pay could rise even higher following scrapping of food waste target and weakness of rivals

‘I didn’t want to be the guinea pig’: inside tech’s AI-fueled manager purge

Tech workers say AI-driven restructurings are eroding mentorship, support and paths to promotion across Silicon Valley

UAE to complete second oil pipeline bypassing strait of Hormuz by 2027

State oil company fast-tracks previously undisclosed project, which is expected to double export capacity

The Federal Reserve’s independence is hanging by a thread in the age of Trump

The president’s ultimate goal is to push the Fed – among other independent US institutions – to bend to his will

Ban private jets and cut speed limits to avert UK fuel crisis, say campaigners

Climate and transport organisations warn ministers not to ‘sleepwalk into crisis’ amid Iran war oil and gas shortages

Hopes grow that London Underground strikes could be called off

Tube stoppages due on two 24-hour periods next week but sources say RMT seeking talks

Heathrow could be forced to allow other firms to build third runway to cut costs

Under aviation regulator proposals rival companies would bid to design and build parts of airport expansion

Christopher Harborne, tycoon who gave £5m to Farage, enters UK rich list at No 6

Crypto billionaire goes straight into top 10 on Sunday Times list, with Noel and Liam Gallagher among other first-timers

Fears of ‘postal deserts’ as owner of former WH Smith stores puts counters under threat

Exclusive: Contract changes mean Post Office outlets inside TG Jones stores would be easier to close, with up to 60 possibly affected

EU carmakers pave way for Chinese rivals as balance in market shifts

Many European motoring manufacturers are in retreat with plants to off–load – while China’s industry is on the march

‘Stone-cold racism’: Newsom condemns GOP redistricting efforts; Louisiana approves plan to erase majority-Black district – as it happened

This live blog is now closed.

US reportedly dropped fraud charges against Indian billionaire after he hired Trump’s lawyer

Gautam Adani, richest man in Asia, was accused of conspiring to pay $250m in bribes to Indian government officials

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  • Water companies in England and Wales explore ‘surge pricing’ during drought
  • Interest rate dilemma for central banks as inflation rises but growth slows
  • ‘I see the incredible promise’: on set of an AI film shoot as new studios embrace controversial tech
  • ‘Why did it become personal?’: furore over plans to expand Kent oyster shack
  • Burnham urged to crack down on gig economy firms to protect 4m workers
  • A positive new report raises the question: was Reeves undermined by dodgy data?
  • University spinout to launch water quality app for UK and US waters
  • New UK cost of living crisis looms with soaring energy bills forecast to lift inflation
  • From tourism to power generation and productivity, Europe feels economic cost of heatwaves
  • Delivery drivers will get minimum wage in Australia’s ‘world-first’ deal. Is it fair – and will Uber Eats cost more?
  • ‘Strategic change and grasping nettles’: where now for John Lewis as boss exits?
  • UK’s biggest EV battery gigafactory shelves expansion as Jaguar Land Rover talks stall
  • Donald Trump doesn’t just love billionaires, he loves multimillionaires too
  • ‘I don’t even drink whisky’: Scotland reels in visitors as much of Europe swelters
  • Secondhand booksellers in UK and Ireland suspect AI firms behind ‘strange’ bulk orders
  • ‘A tax on being thin’: only high earners make overall savings on food bills from weight-loss drugs
  • Burnham criticised for EV and North Sea approach amid climate crisis
  • US long-term borrowing costs hit 25-year high; weakening of UK’s EV sales targets criticised – as it happened
  • Thames Water plans to restart desalination plant – after drought has ended
  • Milk, wine, salad: how your food will be affected by the summer of heat
  • BP to develop offshore gasfield in Venezuela with firms linked to Trump administration
  • As online dating goes into ‘salvage mode’, can AI solve all its problems?
  • US firms that kept DEI policies despite ‘go woke, go broke’ threats thrived
  • Ryanair window that passenger was partly sucked out of was broken by engine debris, report finds
  • Tougher crops and beaver dams: how UK farmers are tackling drought
  • Searches for UK homes with air conditioning more than double
  • BAE Systems to pay $36m penalty after 104 violations of US arms export rules
  • Water customers are not a ‘blank cheque’, Burnham tells suppliers
  • Energy nationalism and interconnectors: the next power threat?
  • Ukraine ‘offering Russia deal to halt attacks on civilian ships in Black Sea’

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