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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

People in Thornton-Cleveleys want answers on the impact of widespread contamination around the chemical plant“Everything I wanted was finally coming to fruition. A house, a change of job and getting married,” says Liz Hurst, looking out to sea on a hot evening in Blackpool.“But then all of a sudden, everything was put on hold.” Fifteen years ago, Hurst was diagnosed with kidney cancer aged 32. Continue reading...

The High Pay Centre revealed the excesses of CEO wages. But then anti-diversity winds blew in from across the AtlanticShock ricocheted around the world of social research this week with the sudden news of the imminent closure of the High Pay Centre (HPC). Founded in 2011 by the former Guardian business editor Deborah Hargreaves to focus on analysis of extreme pay at the top and the widening pay gap between CEOs and their average employees, its closure feels like the death of an idea.Ot

There are far better ways to tackle climate breakdown, but successive governments have chosen to listen to the fossil fuel companies insteadThe new prime minister will be looking for money? Well, here’s £21.7bn lying on the ground. The government could cancel its deranged, disastrous carbon capture and storage (CCS) programme at no cost to public welfare: in fact, it would greatly reduce the harm we will suffer.Sorry, did I say £21.7bn? That’s the figure the government has been putting

A legal case on behalf of some 700,000 people against the country’s biggest housebuilders could be a catalyst for much-needed industry reformEvery new government – at least for the past decade or so – has come into office with a promise to build more homes. New ministers don a hard hat, take a trip out to a recently completed development and smile indulgently as a bright young couple get given the keys to a smart-looking new-build. Then follows a speech about aspiration.The unspoken tr