Oil prices climb after Trump dismisses Iran’s response to peace plan
Brent crude rises after US president calls overture from Tehran ‘totally unacceptable’
US Senate expected to confirm Kevin Warsh as next Federal Reserve chair
Warsh would succeed outgoing Fed chair Jerome Powell as Trump continues his push to influence the US central bank
UK households bracing for new cost of living crisis, report finds
PwC survey reports fast fall in consumer confidence with people worried about Iran war’s impact on economy and personal finances
‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up
Banknotes are now so tattered that even buses refuse to accept them, as a dollarised economy and mobile phone payments push up the cost of essentials
‘Degree of complacency’: are supply chains prepared for impact of ongoing Iran war?
The economic warnings are bleak, but full extent of shortages are still not felt for many European countries
With Trump’s low approval rating and Republicans’ ‘self-destruction’, can Democrats take the Senate?
Even with the Iran war weighing Trump’s party down, Democrats face a challenge turning the upper chamber blue
US consumer confidence hits record low as Americans fret about rising prices; jobs report beats forecasts – as it happened
Rolling coverage of the latest economic and financial news
UK borrowing costs fall and pound rises after Starmer says he will stay as PM
Bond yields drop as market fears ease that Labour leader will be replaced by a more leftwing rival
US added 115,000 jobs in April in surprise gain amid Iran war uncertainty
Unemployment remained steady at TK% as the US-Israel war on Iran continues to rattle the American economy
Trump walks back threat to rip up part of EU trade deal but tells bloc to ratify by 4 July
Trump sets Fourth of July deadline as he vents impatience at speed of EU’s implementation
UK house price growth halved as Iran war fallout hits housing market
Halifax says cost of typical home fell by 0.1% in April, the second consecutive monthly drop, with pace of annual growth down from 0.8%. to 0.4%
Fertiliser shortages to have dramatic effect on food prices, says Duke of Westminster’s firm
Mark Preston, of Grosvenor Group, who owns one of the UK’s leading farms, says knock-on effect of Iran war could arrive next year
Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal
US president says war will end if Tehran agrees to deal, but that ‘bombing starts’ again if it does not
Up to 150 former WH Smith stores face closure, putting thousands of jobs at risk
Modella Capital, which rebranded shops as TG Jones, unveils radical restructuring plan, including rent holidays
Airlines among companies using fuel surcharges to cover surge in costs, UK survey shows
Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra materials costs