Nobel prize for economics awarded to two Americans, Hall and Woodford, for work on New Keynesian models – as it happened

The Sveriges Riksbank Prize in Economic Sciences has been awarded to Robert Hall and Michael Woodford for developing the “microeconomic foundations of macroeconomic stabilisation”

EU to limit Chinese hybrid vehicle imports to 350,000 a year

Brussels uses WTO rules to quickly impose 350,000 vehicle-a-year quota, which will halve Chinese market share to 3%

IFS: budget will be ‘work of fiction’ without clear plan to cover UK’s £35bn spending pressures

Thinktank’s influential pre-budget report urges key decisions to be made now and not put off until next year

Trump’s deal with Putin will have little impact on US diesel prices, experts say

Analysts say fuel will take weeks to ship and quantity is too small to affect prices, while full deal is unlikely to be met given damage to Russian refineries

US’s Reagan-era economic promises return as Trump’s AI-fueled growth fantasy

‘Even if AI supercharged the economy, its impact on the government’s finances would be muted’

Labour has got the message – it’s developing nations suffering most from bond market turmoil

Just as Brown and Blair did in 2005, Andy Burnham aims to champion debt relief to help developing countries

Developing nations face triple shock from energy crisis, El Niño and borrowing costs, UN warns

UN’s development arm calls for urgent action as crises could ‘throw tens if not hundreds of millions back into poverty’

France’s dilemma: protesters demand spending as markets require fiscal restraint

Waves of protests expose debt crisis faced by French government, but political wrangling is stalling an escape plan. Is there a way out?

Oil prices fall as Trump pauses Iran attacks, China restarts fuel exports – as it happened

Brent crude prices fell on Friday as president Donald Trump promised not to attack Iran ahead of the US midterm elections in November

EU ‘pulling out all stops’ with minerals projects as it tries to avert China trade war

Commissioner Stéphane Séjourné says bloc will support 46 strategic projects including lithium and rare earths plants

Send us your questions for economist Isabella Weber on inflation and affordability

First Edition newsletter will be hosting a reader Q&A with economist Isabella Weber, a leading voice on inflation, affordability and cost of living and now’s your chance to put your questions to her

Send us your questions on how the US economy is shaping the midterm elections

Our business, labor and consumer rights reporters will answer your questions in a live Q&A on Thursday 15 October

Badenoch’s inheritance tax gambit makes no economic sense

The Tory leader’s proposal to slash the tax would shovel £6bn of taxpayer money to the already-wealthy

Labour could oversee worst parliament on record for living standards, study warns

Energy and housing costs threaten biggest decline in modern times unless bold action taken, says thinktank

Millionaire tax no more? Rightwing groups lead effort to repeal Washington state law

An initiative on November’s ballot aims to overturn the 9.9% tax on earnings above $1m – who’s winning the fight?