Duty on imports outside new quota will double in move echoing similar changes in EU limitsBusiness live – latest updatesThe UK government will halve the amount of tariff-free steel imports allowed in an attempt to counter a global oversupply of cheap Chinese metal and bolster its beleaguered local industry.New “safeguards” will be introduced on 1 July and will coincide with similar new limits being introduced by the EU for the same purposes. The UK said it and the EU had agreed an approach that reflected each other’s “highly interconnected supply chains” after months of negotiations over retaining tariff-free access between the markets. Continue reading...

25 Jun 2026 11:53 ✍️ RSS THE GUARDIAN

Tory leader said Labour MPs were cheering, even though there are ‘400 knives’ in Starmer’s backBen Quinn is a Guardian political correspondent.Nigel Farage has made an explicit pitch for support from an international gathering of thousands of social conservatives and hard-right activists, likening “family breakdown” to “community breakdown” as populations grew more diverse. The Reform UK leader was speaking a day after the Conservative leader Kemi Badenoch at the Alliance for Responsible Citizenship (ARC) conference, which is backed by influential right-wing funders including donors to Donald Trump. “I think family breakdown is pretty much the same as community breakdown,” Farage said in an interview on the event’s main stage with Philippa Stroud, the Tory peer who set up ARC with others including the controversial Canadian psychologist Jordan Peterson and Paul Marshall, one of the backers of GB News.When people live together in the same communities and they all speak the same language and they all have something in common and they all know their neighbours’ christian names and they all take part in community events ... And when that starts to break down what happens? People become more individualised, more selfish. They don’t know the names of their next door neighbours and I think downstream of that a similar thing has happened in families and I am not pretending that government can on its own wave a magic hand. But we can at least start to make the argument that living in a family, living in a genuine sense of community, is a better way of life and start unashamedly champion that. Continue reading...

24 Jun 2026 16:35 ✍️ RSS THE GUARDIAN

Rolling coverage of the latest economic and financial news, as drops in SpaceX and Tesla’s shares eat into Musk’s wealthElon Musk loses trillionaire status as SpaceX and Tesla stock dropsSegro have confirmed they have “unequivocally” rejected a takeover proposal from US rival Prologis, saying the £12.6bn bid falls “a long way short” of its true value.In a statement to the City, Segro say:The Board of SEGRO considered the Proposal together with its advisers and believed that the Proposal was opportunistically timed and sought to take advantage of the clear dislocation between SEGRO’s current share price and its highly attractive underlying business and strong prospects. This has been accentuated by major geopolitical issues which have adversely impacted trading valuations across the UK and European real estate sectors relative to the US REIT sector.SEGRO has a clear strategy, supported by a strong balance sheet and a proven operating platform. Momentum is building in SEGRO’s occupational markets and the Company has a large and attractive development pipeline, including an exceptional data centre platform, as well as a long track record of delivery. Continue reading...

24 Jun 2026 16:06 ✍️ RSS THE GUARDIAN

Despite plunging fuel prices, trimmed mean inflation increased from an annual pace of 3.4% to 3.6%Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralia’s inflation challenge is far from over and more Reserve Bank rate hikes remain on the cards, economists warn, even after a plunging petrol costs drove an unexpected fall in consumer price growth in the year to May.Annual inflation dropped to 4%, from 4.2% in the year to April, according to the Australian Bureau of Statistics, dragged down in large part thanks to a nearly 12% drop in fuel prices in the month of May. Continue reading...

24 Jun 2026 06:05 ✍️ RSS THE GUARDIAN

Sharon Graham is urged to withdraw her claim that the energy secretary would cost jobs if he became chancellorMore than 40 progressive economists have written to Sharon Graham, the leader of Unite, rejecting her claim that Ed Miliband would destroy jobs if he becomes the next chancellor.With Andy Burnham almost certain to be prime minister within weeks, there is a fierce debate within Labour about who should succeed Rachel Reeves at the Treasury, with Miliband considered a frontrunner. Continue reading...

24 Jun 2026 05:00 ✍️ RSS THE GUARDIAN

The man tipped for No 10 could also come under immediate pressure if his chancellor is deemed by bond markets to be too left-wingAndy Burnham would enter Downing Street already “boxed in” by financial markets if he signals a rise in borrowing to pay for a more expansive policy agenda, bond investors have warned.The newly elected MP for Makerfield, who is widely expected to be the next prime minister, could also quickly come under pressure if he chooses a chancellor who is seen to be too leftwing by bond markets. Continue reading...

24 Jun 2026 04:00 ✍️ RSS THE GUARDIAN