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
Consumer confidence at near two-year high as World Cup and UK holidaying lift summer spending Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentials
Private pensions are a publicly subsidised gift to the wealthy John Healey should equalise the tax break on pension savings to stop inequalities from widening
Union calls for robust review of OBR over fears it holds back economic growth TUC will urge John Healey to order ‘root and branch’ assessment of watchdog amid claims its forecasts downplay investment benefits
US unexpectedly lost 23,000 jobs in July as slump in growth continues Estimates for previous two months were revised down sharply but unemployment rate held steady at 4.1%
Trump orders new 15% tariff on key material for solar panels and microchips Move to raise levy on goods made with polysilicon aims to protect domestic US supply chains from China, the major producer
Most Americans view rising living costs as biggest barrier to a better life, survey finds When asked to detail what would make a better life in three to five years, 60% of US adults said greater financial security