‘Bizarre choice’: business and Labour puzzle over Shabana Mahmood as future chancellor

The home secretary, favourite to take over at No 11, has minimal economic credentials and many MPs would prefer Ed Miliband

UK economy grew by 0.1% in May despite impact of Iran war

Rise in GDP follows a 0.1% decline in April, figures from the Office for National Statistics show

Worse-than-expected figures for three months to June come amid concerns over lopsided economy

Organisation’s experts say pledge puts pressure on UK public finances and ‘adds significant fiscal risks’

Exclusive: Work and pensions secretary signals possible reform to welfare as ministers await key reviews

Recent strikes have sent oil prices climbing again, with average gas price per gallon up by $0.70 compared with 2025

Energy prices later stabilise after Trump abandons plan for 20% levy on traffic through strait of Hormuz

Country risks new tariffs from US and EU as it looks likely to match or beat last year’s record surplus of $1tn

Lobby appeals to prospective PM’s reindustrialisation agenda as it pushes for Rosebank and Jackdaw approval

Despite spending increase in June, Barclays says most people still pessimistic about economy

If Keir Starmer won’t act then his successor should – by restricting the power of a small group of mega-donors

Weather cycle threatens harvests worldwide, adding to inflation already fuelled by the Iran war

As England prepare to take on Norway on Saturday, sales of pints, takeaways and new TVs continue to surge

Thinktank urges prospective prime minister to reclaim UK’s role as an international leader on development