OECD predicts spate of recessions globally if Iran conflict drags into 2027
Policy forum lays out ‘prolonged disruption’ scenario in which world’s GDP falls to 2.1% this year from 3.4% in 2025
Oil price rises back above $100 a barrel as energy market may be past ‘point of no return’
Crude rises after US strikes on Iran dampen hopes of peace deal, with experts saying talks appear stuck in ‘endless loop’
With oil markets nearing the danger zone, a US-Iran deal can’t come soon enough
Global prices are approaching a tipping point that could trigger inflation, shortages and, over time, recession
EU agrees to implement US trade deal struck last summer
MEPs had twice frozen ratification process in protest at Trump’s threats to increase tariffs and take control of Greenland
Germany urged to stop admiring Beijing and wake up to ‘China Shock 2.0’
‘China has already eaten much of German industry’s lunch and is preparing to start on dinner,’ thinktank says
Fears of new China shock as EU industry’s reliance on imports grows
Rising volume of components imported from China prompts warning of cannibalisation of European industries
Rachel Reeves suggests if it ain’t broke, don’t fix it – as fight to keep her job goes on
The GDP boost has raised the chancellor’s prospects for staying in post, whoever wins the Labour leadership battle
‘Inevitable’ jet fuel shortages will drive up air fares this summer, says Willie Walsh
Impact of disruption from Iran war may be felt into 2027 even if strait of Hormuz reopens, says aviation body boss
Pity the poor billionaires – demands for higher taxes must feel hurtful
No wonder they are upset by the slogan ‘tax the rich’. Despite their wealth increasing 81% since 2020, they need our emotional support now more than ever, writes Arwa Mahdawi
Oil prices climb after Trump dismisses Iran’s response to peace plan
Brent crude rises after US president calls overture from Tehran ‘totally unacceptable’
‘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
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
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
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
Trump tears up part of EU tariff deal to raise import duties on cars and lorries
US president says tariff on vehicles imported from EU will rise to 25% and accuses bloc of non-compliance