Typical energy bill forecast to rise by £332 a year in July

The US and China have agreed the framework of a potential trade deal that will be discussed when their respective leaders meet later this week, the US trade secretary has said. Scott Bessent told the BBC’s US news partner CBS that this included a “final deal” on TikTok’s US operations and a deferral on China’s…

A JLR spokesperson said: “Due to a part supply challenge with a supplier, we are temporarily pausing production on certain vehicle lines at our Solihull manufacturing facility. We are working closely with that supplier to resolve the issue as quickly as possible and minimise any impact on our clients or our operations.”

In his first speech as prime minister, Andy Burnham has promised to give people more “breathing space” to help with the cost of living. Policies will be announced on Tuesday – his first full day in the job. Although a few hours after taking office, the new prime minister confirmed he will be “looking at”…

Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis CIB, said while 1970s oil shocks sent prices sky high, they only cut global supply by 5-7%. In contrast, the current crisis affects 20% of the world’s supplies, “dwarfing the 1970s shock”, she said.