Federal Reserve holds interest rates as Iran war triggers oil shock

The maker of Wegovy and Ozempic, Novo Nordisk, has announced it will cut 9,000 jobs weeks after warning that profits will fall as more “knock-off” weight-loss drugs emerge. The redundancies make up 11% of the Danish company’s workforce and mark the first major step by new chief executive Mike Doustdar as Novo Nordisk faces mounting…

Natalie Sherman,Business reporter and Danielle Kaye,Business reporter Bloomberg via Getty Images When President Donald Trump last week removed tariffs on more than 200 products, it represented something of a political earthquake, and marked a significant concession on a hallmark White House policy The decision, which critics said was long overdue, came as the president returned…

The discussion of ways to mitigate any energy price rises came after the government’s cost-of-living tzar, Lord Walker, who is also chief executive of supermarket chain Iceland, suggested in the Sunday Times that energy companies and petrol stations should have their profits temporarily capped as oil prices jump.

The highest court in India has strongly criticised the country’s aviation authorities for their handling of the aftermath of the Air India plane crash that killed 261 people in June. Leaving only one survivor, the flight bound for Gatwick airport from Ahmedabad crashed shortly after taking off, killing 242 passengers on board and 19 others…