Bank of England challenged over ‘gobsmacking’ travel expenses – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial market, the eurozone and business. The markets are edgy today after growing worries of a trade war sent shares sliding on both side of the Atlantic yesterday. Yesterday’s selloff wiped 328 points, or 1.3%, off America’s Dow Jones industrial average while …

Why did Nigel Farage tell the world he thought remain had won? | Molly Scott Cato | Opinion

Have you ever wondered why Nigel Farage and the Brexit merchants are obsessed with George Soros? No doubt his strong support for the EU has something to do with it, but perhaps his sudden rise to wealth through a single, well-timed bet is also part of the fascination. In 1992 Soros was a relatively unknown …

MPs vote after Commons debate on Heathrow third runway – Politics live | Politics

The position of Heathrow Ltd is … this is an exceedingly dodgy company by any reckoning. Last year, its profits were just over £500m, it remitted in dividends over £700m, it is extracting rent in the form of monopoly rent from its existing holdings – particularly its monopoly control over car parks – it has …

BBC staff caught up in claims of sexual assault at Welsh assembly | Media

When BBC journalists began investigating the treatment of staff at the Welsh assembly, they were expecting to find accusations of bullying and mistreatment by politicians. Unexpectedly they uncovered claims of sexual assault against the BBC’s own staff. The corporation sent an anonymous survey to 247 employees who work for assembly members in April. Thirty people …

Theresa May and Jeremy Corbyn clash over NHS funding at PMQs – Politics live | Politics

7.21am EDT07:21 Corbyn says under Labour the NHS increase would be 5% this year. And what is her offer – a promise without saying where any of it would come from, apart from phantom taxes Hammond is presumably dreaming up now. But there is a human element to this. He quotes from a letter from …

Markets slide as Trump threatens China with $200bn of new tariffs – business live | Business

“The latest escalation in trade tensions between China and the United States should have investors worried. Recall that the original tariffs on about US $50 billion worth of Chinese imports motivated sharp declines in equity markets, despite not being expected to have a meaningful impact on the global economy. The latest ratcheting up in the …

‘Heartbreaking’: fire guts Glasgow School of Art for second time | UK news

The Glasgow School of Art has been devastated by ahuge fire, only four years after parts of the building were destroyed by a smaller blaze. More than 120 firefighters and 20 appliances were called to tackle the blaze, which began at about 11.15pm on Friday and spread to a neighbouring music venue, the O2 ABC. …

ECB decision on interest rates and QE – business live | Business

The Latvian capital of Riga. Photograph: David Keyton/AP Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. All eyes are on Riga as the European Central Bank weighs up whether to pull the plug on its stimulus programme, despite signs that the eurozone recovery is …

Rolls-Royce to cut 3,000 jobs in UK | Business

Rolls-Royce has announced it is to cut 4,600 jobs as part of a major shakeup of its business, mainly affecting managerial and administrative roles in the UK. Warren East, the aircraft engine maker’s chief executive, said the UK would bear the brunt with around 3,000 of the job losses, and that he could not rule …

SNP MPs walk out of Commons in protest over Brexit debate | Politics

Prime minister’s questions descended into pandemonium in the Commons after Scottish National party MPs walked out en masse as part of a protest over the lack of time given to debate devolution issues connected to Brexit. The party’s Westminster leader, Ian Blackford, was ejected on Wednesday for repeatedly refusing to sit down after the Speaker, …