Finance

Oil prices have risen further as the Middle East war rages - with Iranian officials saying the country would "set fire to anyone who tries to pass through" the Strait of Hormuz, a key crude oil shipping route.

UK Chancellor Rachel Reeves is set to respond to the latest economic outlook as a sharp surge in global energy prices threatens to undermine expectations of easing inflation.

Air Chief Marshal Sir Richard Knighton reportedly told the Prime Minister that the MoD faces a £28 billion shortfall between now and 2030.

Octopus Energy has agreed to sell a minority stake in its Kraken Technologies division, valuing the software business at 8.65 billion dollars (£6.4 billion) and paving the way for a potential stock market flotation.

The UK is set to receive an influx of cheap Chinese imports that could lower inflation amid the effects of Donald Trump’s global trade war, leading economists have said.

Gambling companies have spent nearly £5m to advertise on the London transport network since Sadiq Khan pledged to stop them from doing so, amid a prolonged impasse between the mayor’s office and the government.

A group of MPs and peers have urged the incoming Archbishop of Canterbury to prevent the Church of England from spending £100 million on slavery reparations.

A version of the Valuation Office Agency (VOA)’s “automated valuation model" will be used in the assessment.

BP has agreed to sell a majority stake in its $10bn (£7.4bn) lubricants business Castrol to the US investment company Stonepeak, as the new chair, Albert Manifold, rapidly reshapes the under-pressure oil and gas company.

Sir Sadiq Khan is increasing his funding of debt collectors that track down unpaid council tax and business rates in London.

Labour will increase the inheritance tax relief threshold for farmers in a significant concession following backlash from rural communities.

British households saved less during the July-to-September period of this year as they felt the impact of higher taxes but continued to increase their spending, according to official data that confirmed a slowdown in the broader economy.

The base interest rate was cut from 4% to 3.75% on Thursday, as Economics Editor Joel Hills reports.

Britain has unveiled a major new anti-corruption strategy aimed at stopping criminals and sanctioned oligarchs from laundering money through the UK, with a particular focus on the lawyers, accountants, bankers and corporate service providers who enable illicit finance.

Rachel Reeves’ promise to reduce household energy bills by £150 might be nullified due to the costs associated with nuclear energy, concealed green levies, and new charges being introduced by the energy regulator, according to reports.

Approximately 700 Albanian families might be offered more than £3,000 to leave the UK, as ministers handle a rising immigration bill.

Britain’s energy watchdog has given the green light to an initial £28 billion of investment to upgrade UK energy infrastructure, but revealed the move will push up network charges on household bills by £108.

Swiss bank reports that inheritances have made 91 individuals billionaires, while the overall number surged from 2,682 in 2024 to 9,919 this year.

Disabled drivers could be set for a major boost due to a little-known Vehicle Excise Duty (VED) change in Rachel Reeves’ budget.

The United Kingdom is considering a ban on crypto donations to political parties, a move that would directly affect Reform UK and its leader, Nigel Farage, who have leaned into digital assets as part of a pitch for a crypto revolution in Britain, according to Politico.

Elon Musk-owned electric carmaker also called for support for the secondhand market, documents reveal.