Are global stock markets heading for a crash? Economies thrown into renewed turmoil as AI debt, Iran war and soaring government bond yields fuel alarm
Software defect blamed for UK air traffic control chaos; FTSE 100’s worst day since July; Volkswagen cuts outlook – as it happened Rolling coverage of the latest economic and financial news
Retail sales bounce back in Great Britain amid brighter signs for economy Latest data to defy economic gloom shows 0.5% rise boosted by purchases of sports items, aircon units and fans during heatwaves
US wheat farmers navigate uncertainty amid drought and geopolitical chaos Some experts worry factors affecting wheat exports could push global food prices even higher than they are now
Japan raises interest rates to 31-year high to curb impact of rising prices Increase from 1% to 1.25% follows US Federal Reserve and European Central Bank tightening monetary policy
Global leaders urged to join initiative to fight extreme inequality More than 1,500 academics and economists sign letter, calling growing gap between richest and poorest ‘a policy choice that can be reversed’
‘I feel invisible’: over-50s reveal harsh realities of trying to get a job Candidates describe feelings of rejection after submitting hundreds of applications but getting a handful of interviews
All smiles in Strasbourg but uncertainty clouds Canada’s EU membership plan Although Mark Carney welcomed offer to become bloc’s first associate member, no one seems to know what that means
Khan addresses Polanski in Urdu at London assembly, mocking Green leader’s byelection video – as it happened It comes after the Green leader, who is standing as a candidate in the Holborn and St Pancras byelection, recorded a campaign video in Urdu
The Bank of England is shaking up its bond sales – why does it matter? The UK central bank has announced shakeup of its bond sales programme as it unwinds massive balance sheet
UK government borrowing costs fall as Bank of England outlines new bond-selling plan – as it happened BoE lays out proposal to sell UK bonds back to the government, and wind up the asset purchase scheme launched after the GFC
Burnham’s talk of ‘breathing space’ at odds with reality of future Bank rate rises PM’s push to cut cost of living threatened by rising inflation and government borrowing costs as geopolitics hit home
Bank of England holds interest rates at 3.75% but warns war could force future rises Central bank announces surprise plan to sell billions of pounds in government bonds back to the Treasury
IMF urges Australian government to cut spending as another interest rate hike looms Warning comes as forecast for nation’s economic growth downgraded amid concerns over rising debt and inflation
Burnham warns of ‘difficult decisions’ in budget as inflation rises to 3.1% PM rejects claim he leads a ‘tax-and-spend’ government, as Bank of England prepares for interest rates decision