IMF warns on risks to global economy amid tariff trade shock – as it happened

Live, rolling coverage of business, economics and financial markets as economists say ‘risks to the global economy remain firmly to the downside’ amid Donald Trump’s trade war

IMF upgrades global growth forecast as Trump tariffs ease, but warns on risks

Despite reduced tensions and EU trade deal, US policies are ‘highly uncertain’, says Washington-based organisation

Rising UK food prices turn cash-strapped shoppers away from high street

BRC says food prices rose by 4% in July from 2024, while CBI blames economic uncertainty for people not spending

Trump’s tariffs to face major court test brought by US small business owners

Plaintiffs argue president lacks legal power to impose duties under the International Emergency Economic Powers Act

Worried about the cost of living crisis? Maybe you need another lipstick

British consumers are splashing out on ‘prestige lip products’, according to market research. And these are not the only little treats that are booming with the big ones out of reach

Dollar strengthens against euro as US-EU trade deal limits uncertainty – as it happened

Live, rolling coverage of business, economics and financial markets as European stock market rally fizzles out

Starmer and Reeves should prepare UK for wealth tax, say top economists

PM could raise ‘tens of billions’ while positioning Britain as progressive, say Thomas Piketty and others

UK is stuck in a ‘debt doom loop’, says top investor

Hedge fund chief Ray Dalio warns over public finances, saying Britain will be forced into spending cuts and tax rises

‘Climateflation’ could push up UK food prices by more than a third by 2050, report says

Exclusive: Increasingly extreme weather a threat to production and supply chains in Britain and elsewhere

Trump and von der Leyen announce US-EU trade deal

Agreement includes 15% baseline tariff for most EU exports to US after deal reached at Scotland crunch talks

The key to understanding Trump? It’s not what you think

Everything the US president does is for money – and in serving his avarice, he’s managed to triumph over the market

‘The American Dream is a farce’: US readers on the financial stress delaying milestones

Jobs, homes, kids, retirement – some say instability worsened under Trump is forcing them to postpone it all

Time over for banker remorse? Labour must beware relying on the City for economic growth

Financial crisis of 2008 should not be forgotten as reinflation of banking industry could hurt other priority sectors

From Krispy Kreme to GoPro, has meme-stock trading frenzy returned?

Shares in brands such as American Eagle and Wendy’s have surged, harkening back to the GameStop craze of 2021

Reeves should consider ending pension triple lock and charging for NHS treatment, says IMF

Chancellor is advised to give herself more leeway in the next budget before adjusting taxation or spending