Surprise growth boost for Labour as GDP rises by 0.4% in May

ONS figures show gross domestic product rising faster than predicted after flatlining in April

Debt, sewage and dividends: the rising tide of Thames Water’s troubles

In the second part of our focus on the water industry, we chart the decline of one of the UK’s major utility companies, now on the brink of restructuring or renationalisation

Rachel Reeves says the UK’s public finances are in a dire state – but here’s why I’m cautiously optimistic

The markets haven’t imploded, sterling is solid, and there is no flight of investors – and given the circumstances, the only way is up, says Guardian economics editor Larry Elliott

Labour will not boost military spend without economic growth, says minister

Comments come as PM begins two-day US visit to urge Nato member countries to increase defence spending

Keir Starmer has a plan to turn the populist tide – and Britain’s allies pray it works

The prime minister is welcome at Nato’s summit in Washington as a rare example of a leader who has won from the centre, says Guardian columnist Rafael Behr

What is the national wealth fund and what will it invest in?

A key pledge in the Labour manifesto, the fund was launched by the new chancellor, Rachel Reeves

Keir Starmer and Angela Rayner to kickstart new era of devolution

On fifth day in office, PM and deputy will meet England’s regional mayors as Labour draws up new bill for king’s speech

Less is more from Starmer and Reeves in contrast to Tory sound and fury

There’s been an energy to Starmer’s slumber and beneath the chancellor’s surface dullness there lies hope

Rachel Reeves requests urgent assessment of spending inheritance

MPs will hear assessment this month as new chancellor tries to pin blame on Tories for tough decisions ahead

Labour must stay ‘laser-focused’ on delivering growth, say business groups

CBI among a number of organisations to call for tough decisions that help companies to attract investment

Unite chief puts immediate pressure on Rachel Reeves to change fiscal rules

Sharon Graham says new chancellor has ‘not got time to wait for growth’ and needs to borrow to invest

HMRC withheld offshore tax avoidance figures for UK’s wealthy during election

Pressure on officials to publish estimate of offshore tax avoidance in almost £40bn of uncollected revenues

Former Tory minister may become Labour’s ‘planning tsar’

Approach made to Nick Boles as Starmer prepares to announce immediate changes to regulations

Markets left barely stirred by Labour’s thumping election win

The City is relaxed about a result that it expects to bring only modest change as the economic outlook improves

Labour landslide may boost investment and confidence in UK, say City analysts

Strong mandate for Keir Starmer’s party should help restore Britain’s ‘safe haven’ status, knocked by Liz Truss and Brexit