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February growth of 0.1% comes despite construction and retail being hit by wet start to yearBusiness live – latest updatesBritain’s economy has taken a step closer to exiting recession as official figures showed growth continued in February despite a washout month for construction and retail after one of the wettest starts to a year on record.The Office for National Statistics (ONS) said gross domestic...

Health experts say government must step in to cut sugar in beverages and tackle manufacturers’ ‘appalling’ behaviourFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAn increase in sugar in two popular soft drink brands has prompted health experts to renew calls for laws to cut the sugar in beverages, and to tackle...

Fitch cut to negative comes as country moves away from reliance on growth from property sectorBusiness live – latest updatesFitch has downgraded the outlook on China’s debt as it warned of increased risks to the economy while the country moves away from its reliance on growth from the property sector.On Wednesday the US-based agency said it had revised China’s sovereign credit rating from stable...

Profits near £2.3bn for supermarket, which says it is ‘conscious things are still difficult for many customers’Business live – latest updatesTesco has said inflationary pressures in the UK grocery sector have “lessened substantially”, as it announced plans to make £500m in efficiency savings in the year ahead.As expected, the country’s biggest supermarket chain revealed pre-tax profits of almost £2.3bn, up 159% on the previous...

Mobile units will be deployed on high streets to identify wanted people – including repeat offendersThe government is investing more than £55m in expanding facial recognition systems – including vans that will scan crowded high streets – as part of a renewed crackdown on shoplifting.The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being...

Law firm’s founders among those to face money laundering charges after leak of 11.5m files in 2016A criminal trial of 27 employees working for the law firm at the heart of the Panama Papers on money laundering charges has commenced in a Panamanian court.Eight years ago, leaked financial records from the law firm Mossack Fonseca sparked international outrage at the use of offshore companies...

Controversial investment bank could play important role in fate of Britain’s biggest water firmBusiness live – latest updatesThe Australian investment bank Macquarie, which has been criticised for its role in the privatisation of England’s water industry, is understood be among lenders to Thames Water’s troubled parent company.The former Thames Water shareholder could, along with other lenders, play an important role in determining the fate...

Walter Huang was killed when his car steered in to a highway barrier and Tesla will avoid questions into its technology in a trialTesla has settled a lawsuit over a car crash which killed an Apple engineer in 2018 after his car veered off a highway near San Francisco, court documents showed on Monday.The settlement was made as the trial was about to start...

In annual letter to investors, Jamie Dimon warns ‘wars in Ukraine and Middle East could become far worse’The boss of the US bank JP Morgan has warned that the world could be facing the most dangerous moment since the second world war, putting lives and economic growth at risk.In his annual letter to investors, Jamie Dimon said the world had been “generally on a...

World’s most valuable chipmaker Taiwan Semiconductor to set up third facility in Arizona using funding from Biden policyBusiness live – latest updatesTaiwan Semiconductor Manufacturing Company is to build its most advanced chips in Arizona after receiving a pledge of as much as $11.6bn in US government subsidy as part of Joe Biden’s efforts to attract computer chip production.TSMC, the world’s most valuable chipmaker, says...

Multibillionaire called for resignation of judge who ordered platform to block far-right usersElon Musk faces a legal investigation in Brazil after becoming embroiled in a public row with a supreme court judge over an order requiring the social network X to take down some far-right accounts.Justice Alexandre de Moraes had issued a court order forcing the site formerly known as Twitter to block several...

Incident involving Southwest flight will add to pressure on plane maker as it shakes up leadershipUS airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap, the latest in a series of safety problems facing the aircraft manufacturer.The Southwest Airlines flight 3695 rose to about 10,300 ft (3,140 metres) before returning...

Chain says it has experienced operational disruption after hackers gained access to its IT systemsOne of the UK’s largest vet groups has told regulators about a possible breach of personal information after it was hit by a cyber-attack.CVS Group said hackers had gained unauthorised external access to a limited number of its IT systems. The company continued to have problems with slow-running systems on...

Risk of declining consumption, house price falls and defaults as tighter policy finally has impactBusiness live – latest updatesThe high proportion of UK homeowners on fixed-rate mortgages means the Bank of England should be wary of keeping interest rates too high for too long, the International Monetary Fund has warned.The IMF said many borrowers had been sheltered until now from the impact of higher...

Jason Tarry poised to take over from Sharon White when she steps down in SeptemberBusiness live – latest updatesThe former boss of Tesco in the UK and Ireland is to replace Sharon White as the chair of the group that owns John Lewis and Waitrose as it turns to an experienced retailer to lead the next phase of its turnaround.Jason Tarry is poised to...

The airline is adding more than 20m rewards seats on international and domestic flightsFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastQantas has unveiled long-awaited changes to its frequent flyer program, boosting the number of reward seats available and changing the way those seats are priced. What does Monday’s announcement mean for...

As the organisation’s anniversary nears, borders around the world are closing againWhen trade ministers gathered in the Moroccan city of Marrakech 30 years ago this month to sign the agreement creating the World Trade Organization (WTO), the mood was celebratory. The Berlin Wall had come down only recently, communism had collapsed, and there was optimistic talk of how the body would prise open new...

Drop in March leaves average price of home at £288,430, says HalifaxBusiness live – latest updatesUK house prices fell in March for the first time in six months as more costly mortgage deals and continued uncertainty about when the Bank of England would start cutting interest rates hit the property market.House prices fell by 1%, or £2,908, in March compared with February, according to...

Dozens of flights cancelled at Sydney airport and drivers told to avoid non-essential travel as inland low and coastal trough combine. This blog is now closedBruce Lehrmann defamation trial live: watch and follow the latest newsBoM weather radar: track the path of the storms and latest updates and warnings for NSW and QueenslandGet our morning and afternoon news emails, free app or daily news...

Fees of up to £145 on EU animal and plant products through Dover and Folkestone begin on 30 AprilBusiness live – latest updatesTrade groups have warned that consumers could see a rise in food prices after the UK government announced the introduction of post-Brexit charges on imports of EU food and plant products later this month.The government has published details of fees – known...

This blog is now closedBruce Lehrmann defamation trial: Channel Seven offered Taylor Auerbach promotion after rebuking him for charging Thai massages to corporate card, court toldGet our morning and afternoon news emails, free app or daily news podcastAfter a number of comments about the state of famine in Gaza, which Hyman appears to be disputing – it’s quite difficult to keep up with his...

Live, rolling coverage of business, economics and financial markets as Disney faces criticism over alleged leaking of shareholder vote resultsEurozone inflation fell unexpectedly in March, adding to the case for an interest rate cut by the European Central Bank.Consumer prices rose by 2.4% in the year to March, down from the 2.6% rate in February, according to statistics office Eurostat. That was below the...

Funding for drains, embankments and other measures is part £45.4bn five-year investment planBusiness live – latest updatesNetwork Rail is to spend nearly £3bn to protect the railway from the effects of the climate crisis and extreme weather, as it warned that the country’s network was having to contend with hotter summers and increased winter floods.As part of its new £45.4bn five-year investment plan, the...

Around 9,500 tonnes of track will be provided for north African country’s first fully electrified mainlineBritish Steel has won a multimillion-pound contract to supply rail for a new route in north Africa, the company has announced.Approximately 9,500 tonnes of track, produced in Scunthorpe, will be provided for Egypt’s first fully electrified mainline and freight network which stretches from the Red Sea to the Mediterranean....