Cut borrowing costs for poorer countries to free up $900bn for development – report G77 nations spend $8tn a year servicing debts, but analysis shows how comprehensive relief could benefit social spending
Four in five Britons worried Iran war will make food more expensive, poll finds Shoppers concerned about effect of Middle East conflict, as UK retailers say government running out of time to cut costs
Rubio insists US is ‘very fortunate’ as Iran war pushes gas price near $4.50 US secretary of state says US is better off than other countries hit by disruption in oil supplies
UK 30-year borrowing costs hit highest since 1998 amid oil price surge and political uncertainty – as it happened Long-term UK borrowing costs hit 28-year high on expectations of higher inflation, and speculation that local elections could prompt leadership challenge
Rachel Reeves and Scott Bessent argued in person about Iran war, sources say UK chancellor said to have told US treasury secretary she did not like his tone during meeting in Washington in April
New threat to Labour spending plans as UK long-term borrowing costs hit highest level since 1998 Inflation fears fuelled by Iran war and renewed uncertainty over Starmer’s leadership prompt bond sell-off
Reform UK’s immigration policies are a significant risk to the UK economy An exodus of workers will be damaging – and electoral change might help Britain escape instability and low growth
‘There is a good deal of fear’: what would a Labour leadership challenge mean for bond markets? Rayner and Burnham are trying to gain markets’ confidence amid concerns they could loosen fiscal rules if they replace Starmer
UK food prices on track to rise by 50% since start of cost of living crisis Beef and olive oil costs increase the most as climate and energy shocks drive inflation, research suggests
Women in developing countries hardest hit by rising debt burden, UN research finds Study warns women face job losses and increased unpaid care duties as debt and conflict-driven turbulence force spending cuts
Jim Chalmers rules out fuel excise extension and downplays hopes for tax relief in ‘most responsible’ budget yet The treasurer also says May federal budget will play ‘helpful not harmful role in fight against inflation’
Average price of gas in California edges past $6 a gallon, highest level in four years Analysts say Americans have now paid $21.7bn more to fill their tanks since the start of the US war on Iran
The Guardian view on Britain’s fragile systems: when global shocks hit your shopping bill Editorial: Energy disruption abroad drives prices at home, showing how few safeguards are built in – which is why a call for resilience must be heeded
ACCC v Woolworths may have exposed the ‘magic’ of supermarket discounts – but will it change how we shop? The seven-day trial in the watchdog’s case against the supermarket offered a rare glimpse into its internal machinations
NatWest faces £140m hit from Iran war as UK growth slows and inflation rises Profits ahead of expectations but almost half of £283m impairment charge follows forecast reassessment