Tanker hit off Iran amid fears of oil price spike

Emer MoreauBusiness reporter Getty Images Construction in November was at its lowest level since the pandemic Activity in the UK’s construction sector shrank last month at the fastest pace since the pandemic, partly due to uncertainty ahead of the Budget, a closely watched survey has indicated. The research from S&P Global said November saw the…

Becky MortonPolitical reporter BBC The government is looking at the possibility of cutting the rate of VAT on energy bills, Ed Miliband has suggested. The energy secretary said he would not speculate ahead of the chancellor’s Budget in November. But asked if the government would consider scrapping the 5% rate, he told the BBC the…

“We urgently need full flexibility for border control authorities to suspend the EES whenever needed to avoid further chaos – along with a rethink of those processes,” Schulte said. “This is about showing respect and decency for those who chose to travel to the EU, and safeguarding our reputation as a welcoming and efficient destination.”…

Gates’s decision to not speak to the summit came after days of uncertainty over whether he would attend. He is currently in India and had visited the southern state of Andhra Pradesh on Monday, where he reportedly discussed initiatives for boosting health, agriculture, education and technology.

Chinese online retail giant AliExpress has been fined a record €550m (£467m) by the EU for allowing the sale of illegal products such as unsafe toys and fake clothes. The European Commission said AliExpress has fallen short of its legal obligations “diligently assess” the risk of illegal, unsafe or fake goods on its platform. “The…

At a bakery in central London, stock has been flying off the shelves. “I’ve sold, like, 100 this morning,” a staff member tells the BBC. But it’s not baked goods driving queues out of the door – customers are here to buy eclipse glasses. They are among those hoping to catch a safe glimpse of…