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This summer’s extreme weather and wars in Iran and Ukraine have made our need for food stockpiles more pressing than everWhen a business makes long-term plans, they call it prudence. When a government makes long-term plans, they call it communism. Any sustained state intervention attracts the prefix “Soviet-style”, and triggers vicious attacks across the billionaire media. So governments have developed a bias against long-term thinking. This may explain why we no longer maintain strate

Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in MayThe UK economy is estimated to be 1.2% bigger than it was a year ago.Real GDP per person is estimated to have increased by 0.4% in the second quarter, up 1.0% compared with the same quarter a year ago.I know people are worried about the impact of the conflict in the Middle East on their cost of living, which has been too high for too long and it has added pre

Brent crude prices hover near $90 per barrel, as fallout from Iran war hits travel firm Tui’s profitsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Oil prices are still on the rise, as fresh attacks on ships raise concerns about disruptions to Middle Eastern fuel supplies, adding to doubts over the prospects of a US-Iran peace deal.Yesterday, the rally in US crude paused for a minute after Pakistan’s Defence Minister said that

US president demands compensation for damage incurred by US, complicating standoff with TehranNvidia ⁠has partnered with six major Wall Street financial institutions to raise ⁠more than $500bn (£370bn) capital for artificial intelligence infrastructure.The Nvidia chief executive, Jensen Huang, said on X that the company has ⁠the option to backstop up to $125bn, or 25% of the potential deals. Continue reading...

Mr Justice Hildyard, who approved a rescue plan for the high street business, said plans for a turnaround came with ‘very considerable’ risksThe judge who approved a rescue plan for the former WH Smith high street business – now named TG Jones – cast doubt on the future prospects of the retailer suggesting there were “very considerable” risks in achieving a turnaround.“This has all the hallmarks of an adventurous equity play,” wrote Mr Justice Hildyard in his judgment published on Wedn

The government has announced plans to create thousands more apprenticeships. We want to hear from employers about their experiences of recruiting apprenticesThe government has announced plans to create thousands more apprenticeships in England as part of wider reforms to technical and vocational education.We’d like to hear from employers who have taken on apprentices. What has your experience been like? Have apprentices benefited your organisation? What have been the biggest challenges

Company posts $7.81bn in revenue, a jump of 92%, after share prices crashed following IPO debutFor the first time since SpaceX went public, the world is getting a first-hand look into the trillion-dollar corporation’s financials. The Elon Musk-run business reported its second-quarter earnings on Tuesday, saying that its revenue jumped 92% since June.SpaceX beat Wall Street expectations, reporting $7.81bn in revenue, versus analysts’ predictions of $6.93bn. While expansive, the company

Trio set up Swift Partners for the acquisition, allowing supermarket to focus on core food businessSainsbury’s has agreed to sell the Argos retail chain for £120m to allow it to concentrate on its core food business.The supermarket announced on Friday it was selling the catalogue

Scotland Yard está investigando duas doações de £250 mil ao partido por Britain Means Business antes da eleição de 2024. Pagamentos ao Reform UK revelados primeiro pelo The Guardian estão sendo investigados pela polícia metropolitana.

Initiatives including cutting permits just to serve ice-cream amount to a sweeping program of deregulationRed Scare? The democratic socialist mayor of New York City spent this week talking about red tape.On Tuesday, Zohran Mamdani – the politician at the center of a revived rightwing panic about socialists and purported communists winning elections across America - posted a video on X of himself putting a sheet of paper with the phrase “RED TAPE” into a paper shredder. Other pieces of

Incoming prime minister has set out distinctly leftwing vision while also promising to be pro-businessAs an incoming prime minister promising huge change, one of the strongest criticisms Andy Burnham has faced so far is that he has failed to provide the details of what he plans to do.The new Labour leader, who will be made prime minister on Monday, has thus far set out a distinctly leftwing vision, while also pledging to be “pro-business”. Continue reading...

Thames Water says it has £515m cash in the bank as its debts swell to £18.5bnGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.China grew 4.3% in the quarter to 30 June, one of the slowest rates on record, as sluggish domestic demand outweighed a surge in exports.While operationally the business is improving, we are also working with our creditors, regulators and government to complete our recapitalisation.10am BST: Eurozone indu