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Firms in England and Wales seek to fund measures including supporting new homes and datacentresBusiness live – latest updatesMillions of households in England and Wales face higher bills after water companies were given the green light to spend £3.4bn more than planned, including to support new homes and datacentres.The new spending will come on top of the £104bn programme of investment approved by the regulator that had already meant water bills will rise by 36% over the second half o

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

GDP expanded by 0.4% in three months to June, down from 0.6% in the first quarter, says ONSEconomic growth slowed in the second quarter of the year, as the disruption unleashed by the Iran war began to take its toll, official figures show.The Office for National Statistics (ONS) said GDP expanded by 0.4% in the three months to June, down from 0.6% in the first quarter, in line with City economists’ expectations. Continue reading...

Rise in new mine proposals, mainly in states of Odisha and Jharkhand, comes despite plateau in global demandEnough new coalmining projects were proposed last year to increase global supplies by 2.5bn tonnes a year, an increase of 11% from the year before, even as demand for coal plateaus, according to a new report.Global Energy Monitor, an NGO, found that India ignited a rise in new coalmine proposals in 2025 despite a global slowdown in the number of mine openings because of falling d

US envoy had claimed Americans could be extracting crude by as early as next yearGreenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president’s envoy that Americans could be extracting crude by next year.Amid Trump’s imperialist threats, tensions have been rising on Greenland’s eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a

Suit alleges subscription offer aims to sell privileged access to information generated in president’s official capacityDonald Trump has been sued after a subscription service charging up to $100,000 a month for early access to his posts on his Truth Social platform sparked allegations of corruption.The lawsuit, filed in the US district court for the southern district of New York, was brought by the Intercept and the Freedom of the Press Foundation against Trump, two of his aides and t

Female staff alleged company failed to maintain safe workplace, after allegations of sexual assault against pilotThe Canadian airline WestJet has agreed to pay C$4.5m (£2.4m) to settle a decade-long sexual harassment class action lawsuit levelled by its female flight attendants, who alleged the company failed to maintain a safe workplace.The suit followed allegations by Mandalena Lewis, a former flight attendant, that a pilot had sexually assaulted her and a colleague, but that WestJet

Mark Walter bought team last year for $10bnIger and Kushner aim to ‘compete at the highest level’Josh ⁠Kushner and Bob Iger ⁠are purchasing ⁠the ​Los Angeles Lakers for more ⁠than $12bn in a record-breaking ⁠deal, ESPN reported ​on ‌Wednesday, citing ‌sources with knowledge ‌of the deal.Billionaire Mark Walter purchased a majority stake of the ‌NBA team last year from the Buss family in a ​deal that valued the club at $10bn, with ⁠the deal only ​having ​been approved ​by the board ​of

Energy is cheaper than at its peak in late April, but gas is still nearly $1 a gallon more expensive than before the Iran warUS consumer prices cooled slightly in July as the annualized inflation rate dipped down to 3.4%, though prices still remain higher than levels seen before the war with Iran.Though inflation decreased 0.7% in June during a brief ceasefire between the US and Iran that brought energy prices down, consumer prices have remained elevated. Price increases hit a three-ye

Falling water levels linked to weather system are expected to limit number of slots to transit shipping laneBusiness live – latest updatesCommercial ships travelling through the Panama canal are facing a rise in costs amid disruption triggered by the Iran war and falling water levels linked to this year’s intense El Niño weather system.Highlighting the fragility of global trade, a container ship reportedly paid about $4m (£3m) to jump a queue of vessels waiting to pass through the vita

Sadiq Khan has indicated the technology will be deployed on London’s Oxford Street despite human rights concernsThe Metropolitan police are understood to be planning to use live facial recognition (LFR) technology on Britain’s busiest shopping street.In June the Met said it would introduce the technology in London’s West End by Christmas and into a further six areas next year. Sadiq Khan, the London mayor, has indicated that the newly pedestrianised Oxford Street will be included. Cont