‘There’s a risk of another Liz Truss moment’: City raises spectre of bond market meltdown again
As Keir Starmer’s leadership totters, investors warn a Labour leadership contest ignoring public finances and market realpolitik could be disastrous
US Senate confirms Kevin Warsh as Federal Reserve chair, replacing Jerome Powell
Warsh will serve four-year term as chair, taking over amid rising inflation and pressure from Trump to lower rates
The king’s speech: what is the government’s legislative agenda for the next 12 months?
Keir Starmer set out bills to abolish NHS England, overhaul Send provision, limit jury trials and forge ties with EU
Global oil inventories falling at record pace amid Iran war; US producer price inflation hits four-year high – as it happened
IEA warns that mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace
‘I don’t think about Americans’ financial situation,’ says Trump amid Iran talks
With US inflation at a three-year high, US president insisted he’s not focused on economic hardship sparked by the conflict
UK housebuilder Vistry warns of ‘significantly’ lower profits amid Iran war uncertainty
Bovis Homes owner’s shares plunge 10.5% after being forced to cut prices as buyers become cautious
Three-quarters of UK millionaires would be happy to pay more tax, research finds
Despite concerns super-rich are leaving due to tax burdens, 88% of those surveyed were proud to live in UK and would pay more to fund public services
Investor jitters over Starmer uncertainty drive UK long-term borrowing costs to 28-year high
Bond yields soar and pound falls against dollar as investors brace for potential Labour leadership change
UK long-term borrowing costs dip from 28-year high after Starmer allies back PM – as it happened
UK bond yields hit highest since 1998 this morning, before easing back as some cabinet ministers voiced support for Keir Starmer
US inflation jumped to 3.8% in April as war with Iran continues to drive up prices
Prices rose 3.8% over the last year, according to Bureau of Labor Statistics data, highest jump since 2023
Labour must offer more than ‘better managed decline’ on economy, MPs urge
Soft-left Tribune group issues thinly disguised attack on Keir Starmer, calling for bold policy renewal
UK households cut back spending at fastest rate in 16 months, Barclays says
Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war fallout
UK government borrowing costs rise as Starmer ‘fails to reassure bond markets’ – as it happened
Yields on 10- and 30-year British government bonds have risen today, as investors digest possibility of leadership challenge
UK borrowing costs rise as Starmer speech fails to dispel investor ‘jitters’
Bond yields creep higher on concerns about potential for political instability and rising inflation
Democrats are playing with fire in trying to reclaim tax cuts from Republicans
Senator Chris Van Hollen and other Democratic lawmakers are embracing a policy that hardly benefits the middle class