Government wins vote but watered down measures will leave a multibillion hole in public finances

Fed chair has been under relentless pressure from Donald Trump to lower borrowing costs

Landmark legislation to extend tax cuts and reduce spending on healthcare now returns to the House

Spanish bank beat British rival Barclays which also put in a formal bid for the Sabadell-owned unit

Chancellor is being pushed to bend her rules on borrowing to fund higher spending

Package would cut levies by $4.5tn over 10 years while slashing welfare spending and green subsidies

It is easy to imagine conditions in which money simply dries up, perhaps in response to large movements in bond yields

Central bank has come under pressure to slow quantitative tightening amid global bond sell-off

European capitals insist US drops levies on EU as part of any framework deal

Rift deepens between the two men over US president’s flagship tax and spending bill

Last time he got what he needed instead

Many Republicans could lose their seats in Congress as a result of the president’s reverse Robin Hood budget

Interest rates expected to be kept on hold at central bank’s next meeting after June reading

Deal with Australian investor will see lenders including Ares and Westbourne take significant haircuts on their debt

Thirty-nine MPs back new amendment designed to kill bill ahead of Tuesday vote

Trump criticises ‘spoiled’ Tokyo over trade deficit ahead of tariff deadline

Almost 40% of public company acquisitions were reported in the media before they were announced

Agreement would be among first reached since Donald Trump launched ‘liberation day’ tariffs in April

Think-tanks argue sensitive policy change should not be driven by need to meet fiscal rules

President’s 90-day pause on reciprocal levies expires on July 9

The government could use this moment of stability to rally people around reforms that tackle structural issues

In AI, the message ‘act now or miss out’ has more in common with high-pressure sales than business strategy

Liquidators still trying to recoup billions of dollars siphoned from Malaysia’s sovereign wealth fund and then laundered

With US support for transatlantic security faltering, Nato nations are fortifying the eastern frontier with Russia

Firs register is designed to offer assurance on activities of overseas powers seen as posing a national security risk

Republican angst over legislation’s impact on debt and cuts to healthcare is slowing its progress

Iwan and Manuela Wirth relocated in June after two decades in the UK

A lack of interest in the real meat of policy helps to explain why Starmer’s first year in government has gone so badly

Republicans can only afford to lose three votes to secure a simple majority, with all Democrats opposed

Tech giant to purchase from US-based Commonwealth Fusion Systems in only second such deal in nascent sector

Data centre group says business from unnamed new client will start to generate revenue by 2028

Companies that build industrial-scale wind and solar hit hardest while those in residential solar rally

Ruling comes amid possibility of settlement between White House and Ivy League university

Chancellor is expected to outline plans to limit the amount of money that can be saved into tax-free cash accounts each year

Ministers brace for biggest rebellion of Starmer’s premiership and say watered down measures will cost taxpayers £2.5bn

Palestinian group had sued government over supply of components to global pool used by allies

Without more military aid, Kyiv’s situation on the battlefield could deteriorate rapidly

Donald Trump’s trade policies and rising debt levels have sparked decline of more than 10% in first half of 2025

British health insurer denied legitimate claims made by patients over 5-year period

Forcing defined contribution schemes to invest a minimum amount in private assets could ‘lead to poorer returns’