UK inflation falls by more than expected to 2.6% in lift for Andy Burnham

Annual June figure comes after new PM pledges to reduce cost of living and improve economy

RBA now twice as likely to hike interest rates as US-Iran war drives fuel prices higher

Experts warn global energy market at a ‘critical juncture’ with escalating Middle East crisis expected to further drag on a slowing Australian economy

Oil price rises above $90 as US and Iran exchange fire and Houthis threaten naval blockade in Saudi Arabia – as it happened

Rolling coverage of the latest economic and financial news

UK borrows less than expected as Healey vows to ‘buffer against uncertainty’

Figure of £16bn from ONS comes after Andy Burnham revealed plans to cut VAT on electricity bills

UK employers cut job vacancies as Burnham aims to lift living standards

Unemployment holds steady at 4.9%, underlining the challenge facing the new prime minister

JP Morgan boss warns of ‘consequences’ if Burnham taxes banks

Higher taxes on sector could threaten plan for £3bn headquarters in London, says Jamie Dimon

Wealth tax on UK’s super-rich could raise £10bn a year, Andy Burnham told

New PM urged to introduce a 2% minimum charge on households with more than £100m in wealth

Donald Trump to impose 50% tariff on most Canadian goods, White House says

Turmoil likely as Trump officials say Canada unfairly discriminated against US autos, alcohol and dairy products

The Guardian view on pubs: football gave them a boost – now they need another

Editorial: Communal spaces where people can share big moments are a vital part of our shared life

Why a modest US interest rate rise won’t change much for most businesses

Rates may rise, but don’t be too concerned – a small increase is unlikely to change major decisions on investment or hiring

Are money and soft power draining World Cup football of its magic?

Fifa’s orchestration of incompatible or frankly absurd corporate sponsorship suggests the balance may have tipped too far

Restoring Britain’s health to 2014 levels could add 2% to GDP, thinktank says

Health Foundation paper argues health is an economic asset and improving it could generate £72bn for public finances

‘Good growth in every postcode’: Burnham’s economic to-do list in seven charts

From industrial strategy and defence to housing and living costs, we lay out the challenges facing the new PM

Trump has normalized crypto. Is it the path to the next financial collapse?

Cheerleading by the president, who made $1.2bn last year off uninsured currency, does not bode well for US economy

Hot tubs and £80 rosé: how the mud-soaked British festival got a luxury makeover

Struggling industry seeks to capitalise on Gen Z’s willingness to spend on experiences and comfort