Introduction: UK energy price cap rises by £200 Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The energy price cap in Great Britain will rise by 13% from July, the regulator Ofgem has announced this morning. It means households will face the steepest summer rise in … Read more
South Western Railway’s newest train, wrapped in union jack-inspired Great British Railways livery, may divide opinion on aesthetics, but the interior is certainly an upgrade: air-conditioned carriages, more space and greater passenger capacity. For ministers, the fact that it is the 45th Arterio model brought into service since the SWR network was nationalised is vindication … Read more
With some experts warning that we may have to brace ourselves for interest rate rises later this year, it might seem odd to suggest considering a tracker mortgage. But, amid the economic chaos caused by the Iran war, for some people looking for a home loan or to remortgage, a tracker – where the rate … Read more
Introduction: Nvidia hits record quarter on AI chip boom Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. A fresh wave of AI optimism has lifted the stock market after chip designer Nvidia reported another set of record-breaking earnings last night. The company, which designs chips critical … Read more
Europe is facing a fresh China shock that threatens to cannibalise local factories, leading to job losses and de facto colonisation of industry by Beijing, trade analysts and representatives have said. They fear the plunging exchange rate and support for Chinese “zombie firms” has echoes of the crisis in the US 25 years ago when … Read more
Any parent who has ever used the UK government’s tax-free childcare system knows what a painful experience it is. Each month when I log into my account, I feel a sense of dread and frustration. Why is something that is such a lifeline for so many parents so difficult to use? The scheme gives working … Read more
Millions of people across Britain are facing a “cliff edge” when they retire due to a chronic shortfall in saving that will require a radical shake-up of the pensions system to fix, a government-backed report has warned. The Pensions Commission said 15 million people were currently not saving adequately for their retirement, and warned this … Read more
Key events Show key events only Please turn on JavaScript to use this feature ‘Real wages on the cusp of shrinking for fourth time since financial crisis’ – thinktank Real wages are on the cusp of shrinking for the fourth time in less than two decades, the Resolution Foundation has warned. The latest ONS data … Read more