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UK service sector shrinks amid Iran war disruption and heatwave – business live

Rolling coverage of the latest economic and financial newsToday’s UK Service PMI report (which polls purchasing managers from across the sector) found there was a “sustained reduction in backlogs of work across the service economy”.This was due to weak demand, S&P Global reports,

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Americans disgusted at Trump earning $1bn from crypto as president: ‘Obviously a grift’

Hundreds of Guardian readers expressed concerns over greed in the White House and a billionaire president unconcerned with high gas and grocery pricesDonald Trump has earned more than $1bn from his crypto businesses since returning to the White House, according to recent financia

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Delivery firm Evri sues BBC for £1.2m over Panorama documentary

Company seeks redress for contracts it says it has lost as a result of programme’s claims about its business practicesThe parcel delivery company Evri is suing the BBC for £1.2m over a documentary it claims caused it serious financial loss.Evri has filed particulars of claim at t

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How BT’s ‘no nonsense’ first female chief helped turn company around

The firm’s share price has risen 80% under Allison Kirkby’s leadership – but pressure remains for her to deliver further growthBusiness live – latest updatesIf timing is everything, then Allison Kirkby may have judged it perfectly.Since becoming BT’s first female chief executive

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Sky owner announces £1.6bn takeover of ITV’s broadcasting arm

US telecom giant Comcast to snap up free-to-air TV channels and streaming platform to create UK’s biggest commercial broadcasterBusiness live – latest updatesSky has announced a long-awaited £1.6bn deal to buy ITV’s broadcasting and streaming arm to create the UK’s biggest commer

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Xbox’s CEO says the business is ‘not healthy’ as it prepares for 3,200 layoffs

With shares down 20% this year, Microsoft joins peers like Meta and Oracle in using layoffs to offset rising costs of the AI race

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Streaming storm made ITV sharing a roof with Sky sadly inevitable

While everyone agrees the deal is the end of an era, it was also unavoidable in the era of Netflix and Disney+A generation ago, ITV was regarded as such a precious jewel in the UK broadcasting firmament that there was outrage when BSkyB, as it was, bought a 17.9% stake to stop an

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UK house prices rise in June despite ‘wider economic uncertainty’; oil prices up after att

Rolling coverage of the latest economic and financial newsShares in ITV are down 6% this morning, making it one of the worst performers in London’s stock market, as investors digest the announcement yesterday that it agreed to sell its broadcast and streaming business to Comcast’

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Act soon to change ‘unsustainable’ direction of UK debt, OBR warns

Forecaster says curtailing rising costs such as health and pensions ‘are today’s challenge, not just tomorrow’s’Business live – latest updatesPolicymakers must act to prevent public debt rising unsustainably in coming decades as the population ages and defence spending rises, the

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More Reform UK transactions worth millions reported to National Crime Agency

Exclusive: Bankers have raised potential money-laundering concerns over loans and donations involving senior party figuresUK politics live – latest updatesA host of transactions involving Reform UK’s most senior figures and donations to the party caused bankers to report potentia

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Oil prices rise after fresh US strikes on Iran and return of sanctions on Tehran – busines

Almost all major Asian stock markets fall, with Samsung Electronics shares sliding for a second dayAssociated British Foods, the owner of Twinings, Kingsmill and Primark, is to rename its baker arm Hovis Bakeries after completing the takeover of rival baker Hovis.The company appe

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Rocket Lab’s stock could surge 250% as the company takes a page out of SpaceX’s book, anal

Morgan Stanley says the bull case for the rocket-launch stock is now much rosier as the company diversifies its business.

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