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UN index says weather is affecting wheat yields while conflicts in Ukraine and Iran hit exports and drive up pricesBusiness live – latest updatesGlobal food prices have hit their highest level in three and a half years, as summer heatwaves and conflict in Ukraine and the Middle East push up crop costs.The UN Food and Agriculture Organization (FAO) index of food commodity prices rose last month to its highest level since January 2023, after a jump in prices for cereals, sugar and vegeta

As lenders’ profits soar, calls grow for a levy to help new PM ease cost of living pressures on householdsIt has been a stellar week for UK banks. Fuelled by high interest rates and market turbulence rippling out from the US war on Iran, major lenders have revealed soaring half-year profits that allowed bosses to boost bonus pots and give billions of pounds to shareholders.Collectively, the UK’s four largest lenders – HSBC, NatWest, Barclays and Lloyds – reported £29.2bn in profits ove

Vulnerable people more at risk as research finds only half of local authority plans require cooling strategiesEngland risks constructing a new generation of “death trap” buildings that can fatally overheat unless the government tightens standards and prioritises climate safeguards, planning experts have said.Fears are growing about the plight of vulnerable people in heatwaves, with research this week suggesting that 2,700 people had died in the May and June heatwaves in England and Wal