New UK cost of living crisis looms with soaring energy bills forecast to lift inflation Latest reading on Wednesday likely to frame scale of challenge for new PM to ease pressures on households amid Iran war fallout
From tourism to power generation and productivity, Europe feels economic cost of heatwaves Low river levels have stalled German freight traffic and forced closure of nuclear plants in France
Donald Trump doesn’t just love billionaires, he loves multimillionaires too US tax policy deprives the government of revenue and overwhelmingly serves the interests of the rich
US long-term borrowing costs hit 25-year high; weakening of UK’s EV sales targets criticised – as it happened Rolling coverage of the latest and economic news, as US sells 30-year bonds at highest borrowing costs since 2001
Andy Burnham ‘angry’ over water company bill increases; Sports Direct owner buys Harvey Nichols – as it happened Live, rolling coverage of business, economics and financial markets as regulator says five companies can raise bills to pay for infrastructure for new housing and datacentres
UK economy shows surprising resilience – but that may not last Weaker growth, rising energy costs and persistent inflation mean Britain could face tougher times in the autumn
UK economic growth slows down as Iran war pushes up energy prices GDP expanded by 0.4% in three months to June, but analysts warn growth is ‘likely to fade’
The Guardian view on Japan’s yen: Trump wants to keep the easy-money machine running Editorial: A cheap currency helps finance the US tech boom. Washington is intervening because allies matter only when they are useful
Zhu Rongji obituary Premier of the People’s Republic of China regarded as an economic reformer who declared that the country had become ‘the factory of the world’
US credit card debt climbs to $1.26tn, nearing last year’s record high Mortgage and student loan balances saw ‘small decline’ with increases elsewhere, says post alongside Fed report
Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – as it happened The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies
US inflation cooled slightly to 3.4% in July but prices still elevated Energy is cheaper than at its peak in late April, but gas is still nearly $1 a gallon more expensive than before the Iran war
Panama canal fees soar due to Iran war and El Niño as ship ‘pays $4m to jump queue’ Falling water levels linked to weather system are expected to limit number of slots to transit shipping lane
Just 20 of 6,600 Defra staff working on climate adaptation amid drought and wildfires Exclusive: England ‘desperately unprepared’ for effects of crisis including water shortages and heatwaves
UK heatwaves may have cost economy £4.4bn in lost output so far this year, analysis finds Verdant thinktank says cost could top £25bn a year by 2030 and calls for maximum temperature for working and urban redesign to cool down cities