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'I won't be able to afford to eat before long'

About a third of households using food banks in the South Cotswolds are doing so for the first time.

08:25 UTC

Also today

Oil price hovers just above pre-war levels but future is uncertain

07:00 UTC

Tesco’s UK sales growth more than halves amid Iran war uncertainty

UK’s biggest retailer reports better figures than expected by City analysts and is cheered by strong online salesBusiness live – latest updatesTesco’s UK sales growth has more than halved as it said the conflict in the Middle East had created “ongoing uncertainty for many households”.The UK’s biggest retailer said comparable sales rose 1.8% to £13.4bn in the three months to the end of May, below both the 4.2% reported in the previous quarter and the 2.3% growth City analysts had expected. Continue reading...

06:59 UTC

Why has Texas set its sights on London?

Texas, which once had an embassy in London, strengthens its ties with the capital by opening a new trade office.

05:03 UTC

Dubai property sales have fallen ‘off a cliff’ since start of Middle East war

Sellers of luxury villas have wiped tens of millions of pounds off asking prices, with sales down 19% in May from the previous monthProperty sales in Dubai have fallen “off a cliff”, a leading market watcher has said, after war in the Middle East forced a dramatic slowdown in one of the world’s most expensive real estate markets.Sales in the city dropped 19% in May compared with the previous month, accelerating from a 4% drop in April, the researcher ValuStrat found. Continue reading...

05:00 UTC

More from the network

Rejoining customs union would not fix damage caused by Brexit, research finds

Exclusive: Economists find Brexit caused 12% depression in UK exports, most of which is due to leaving single marketBrexit has depressed UK exports to the EU by 12%, and rejoining the customs union would undo only a fraction of the damage, research shared with the Guardian shows.With the UK’s future relationship with the bloc likely to feature prominently in a potential Labour leadership contest, the economists John Springford and Anton Spisak, of the Centre for European Reform, provide fresh evidence of the damage caused by exiting. Continue reading...

04:00 UTC

NHS patients face worst drug shortages on record, say pharmacists and GPs

Supply problems pose risk to health, with common painkillers, epilepsy medication and HRT affectedBritons are facing some of the “most severe” shortages of NHS medicines on record including common painkillers, epilepsy drugs and HRT, health leaders have warned, even forcing some patients with impaired digestive systems to skip meals.The National Pharmacy Association (NPA) has warned that medicine shortages pose a “serious risk to patient safety”. Continue reading...

04:00 UTC

AI's most powerful bosses deliver message to world leaders - and it's not very reassuring

The bosses of the world's leading AI companies have a clear ask for the leaders of the G7: you have to come up with a way to govern artificial intelligence.

00:38 UTC

'We had to get out of the way': The backlash over delivery robots

As the delivery vehicles increasing take to US streets, bans and protest groups are springing up.

23:02 UTC

Interest rates expected to be held by Bank of England

The Bank last cut interest rates in December but upheaval in the Middle East has stalled any further reductions.

23:01 UTC

Federal Reserve holds rates steady but signals possible hike before year’s end

Open markets committee says ‘economic activity is expanding at a solid pace’ in first meeting under new chair Kevin WarshUS stock markets dropped on Wednesday afternoon after the Federal Reserve left interest rates unchanged and signaled a possible rate hike before the end of the year.The Fed was widely expected to keep rates at a range of 3.5% to 3.75%, where they have remained since December. The decision was unanimously supported by the Fed’s voting committee. Continue reading...

20:34 UTC

Fed holds US interest rates steady as uncertainty over Trump's Iran deal remains

The Federal Reserve held rates between 3.5% and 3.75% after Kevin Warsh's first meeting in charge of the central bank.

18:41 UTC

Titan sub: design flaws and company groupthink central to catastrophe, report finds

Canadian officials find structural defects in material used for hull and say firm failed to fully test ‘novel’ designCanadian safety officials have issued a damning report on the catastrophic final voyage of the Titan submersible, finding that the US company behind the expedition was overcome by “groupthink” and “confirmation bias” and failed to understand the profound risks confronting their largely untested craft.The 6.7-metre (22ft) carbon fibre submersible dipped below the surface of the Atlantic Ocean in June 2023 en route to the wreckage of the Titanic ocean liner. But nearly two hours after it departed with five passengers, communications went dark. The disappearance prompted a frantic international search, with Canada and the US marshalling all available resources. Continue reading...

18:24 UTC

The Guardian view on Britain and the EU: Ed Davey is right – a changed world changes the argument | Editorial

The Liberal Democrat leader’s call for more ambitious reintegration with Europe brings a necessary focus on economic and strategic realityMembership of the European single market was at stake when the UK voted on Brexit, but it was not the decisive question in the campaign. The leave campaign dishonestly promised a cost-free severance of ties with Britain’s largest trading partner. As immigration came to dominate the debate, the requirement to allow free movement of people as a condition of seamless integration with European markets undermined the remainers’ most compelling argument.Reluctance to advocate a liberal migration regime imposed a taboo on calls to reconsider the Brexit settlement, even as warnings about the cost of rupture were vindicated. Now, after a decade of forsaken growth, the mood is finally changing. Continue reading...

17:50 UTC

The wire

16:28 UTC

I once protested against the G7. I feel no need now, because it’s collapsing all by itself | Zoe Williams

15:37 UTC

Driving test wait time target will not be met until autumn next year

13:48 UTC

More people cashing in full pension in 'worrying signal' for UK's retirement plans

13:44 UTC

Jaguar Land Rover to make more hybrid cars in US sales push

12:15 UTC

AO boss blames Labour as it shifts UK call centre roles abroad

11:57 UTC

Unemployment rate falls but private sector wage growth suffers

11:13 UTC

Will UK interest rates go up?

09:52 UTC

Inflation unexpectedly steady as food price rises slow

09:27 UTC

Surprisingly benign UK inflation data signals a softer Iran war hit than feared

09:24 UTC

What is happening to UK prices?

08:00 UTC

UK social media ban ‘likely to cause £1.3bn drop’ in digital advertising spend

07:33 UTC

Japan raids ice cream giants over price-fixing allegations

06:00 UTC

‘Tax break tart’: hospitality tipped to exploit summer VAT cut on children’s meals

06:00 UTC

Capital gains tax: more people have to pay, so here’s what you need to know

05:24 UTC

'It's a unique scenario' - Inside Lidl's first ever pub

05:19 UTC

Taxi fares set to increase amid rising costs

05:00 UTC

John Lewis injects £20m into Glasgow city centre store in wider branch reboot

04:00 UTC

Is it bad that Elon Musk has a trillion dollars? Yes, and here’s why | Ingrid Robeyns