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Asian shares tumble with South Korea’s Kospi down nearly 10%Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.It’s a gloomy start to the week as attacks between the US and Iran in the Gulf continue. Tehran said it had closed the strait of Hormuz, while Donald Trump insisted the key shipping passage remained open and US officials said 20 ships were escorted through the waterway in the past 24 hours.For now, we remain hopeful that

These financiers want to remodel the UK into a form that suits them – one that could threaten to erode the barriers between crime and businessThis coming Tuesday, the government’s representation of the people bill comes back to the House of Commons for its third reading. It bundles up a multitude of measures, including an extension of the franchise to 16- and 17-year-olds and welcome changes to voter registration. But thanks to the continuing furore around Nigel Farage and his extremel

Ambassadors for Gencore Global directed followers to Telegram channels promoting steroids, prescription medicines and experimental peptides‘I felt dizzy’: body builder recalls how drug abuse caught up with himUK becoming ‘wild west’ for experimental peptides, expert warnsFitness influencers who publicly represent a global wellness brand are involved in running an illegal steroid market on social media, the Guardian can reveal.Gencore Global presents itself as a UK-based health and well

Mega-donors are coming under scrutiny with growing calls for donations cap beyond those from overseas investorsThe question of who funds politicians and political parties – and why they want to give money to get people elected – is an extremely heated one. In principle, UK voters can support their chosen politicians through donations or benefits, as long as those candidates and their parties keep within spending limits during an election period, which is designed to stop powerful inter

Readers respond to an article about a woman who was hit by a child on a Lime bikeThe case of Jane Ouartsi is horrific, but not surprising to many disabled people who move around central London and know how quickly careless riding can become dangerous (‘I felt my spine and body split’: the woman who was hit by a child on a Lime bike – and denied compensation, 7 July).I am a powered wheelchair user in Westminster. I support cleaner streets and fewer car journeys, so I am not opposed to e

Civil liberties groups say Facewatch system in stores such as Sainsbury’s and B&M is ‘dangerous escalation’Facial recognition technology in shops will soon alert police in real time to the presence of serious offenders, with civil liberties groups warning of a “dangerous escalation” towards surveillance and criminalisation in the retail sector.Facewatch, a facial recognition system used by more than 100 businesses including Sainsbury’s, B&M and Spar to monitor thieves, said it

Reform UK presents itself as the people’s voice while opaque digital wealth flows around it. That makes transparency a democratic necessityTwice now, the Guardian’s questions about Reform UK’s finances appear to have been pre-empted by stories friendly to the party. This paper revealed in April that Nigel Farage received £5m from the crypto billionaire Christopher Harborne – but an interview with Reform UK’s leader, claiming he needed the cash “for security”, was published hours earlie

AI companies want to capture the value created by entire industries. That concentration of wealth and power is society’s greatest riskOpposition to AI datacenters has emerged as a primary theme in US politics, one that – surprisingly – doesn’t fall along party lines. We applaud people coming together for constructive debate on any issue, and agree that communities need to evaluate whether any economic benefits these datacenters bring is worth their costs. Still, we worry that a focus o

Seven consumers sue the retailer, alleging it violated consumer protection and false advertising lawsA group of consumers have filed a proposed class-action lawsuit against Costco Wholesale Corporation, accusing the retailer of selling protein powder “tainted” with toxic heavy metals with no warning to consumers.The lawsuit, filed on Tuesday in federal court in Washington state, names seven consumers as plaintiffs. They allege that Costco violated consumer protection and false advertis

Questions swirl about origins of gifts, loans and donations as even party supporters wonder if it can weather the stormUK politics live – latest updatesWhy is Farage quitting as an MP, only to stand again?Scrutiny is mounting on Reform UK’s finances.On Tuesday, amid an investigation by parliamentary standards into an undisclosed £5m gift, Nigel Farage announced he would resign and trigger a byelection in his constituency of Clacton-on-Sea. Continue reading...

Cross-party group backs call last month from science and technology committee to look at alternative optionsA second parliamentary committee has urged Labour to scrap Palantir’s £330m contract with the NHS, increasing pressure on the next prime minister over government deals with the controversial US tech company.MPs on the health and social care select committee want the NHS to cut ties with Palantir and find a replacement for its system, which is supposed to unify and analyse huge am

Ministers also considering licence requirement and regulator to try to cut bills and increase choice UK vets may have to have a licence and cap prescriptions for pet medicine at £21 under plans being considered by the government.Ministers are also considering establishing a regulator for the veterinary sector, including inspections, a mandatory licensing system and published compliance reports to improve accountability and choice. Every vet practice could need an official operating lic