UK private sector shrinking as firms cut jobs; pressure to raise taxes as government borrowing jumps – as it happened

Britain’s private sector is shrinking for the second month running as factory output falls at the fastest rate in a year and a half, a new survey shows.The latest poll of purchasing managers at UK companies found that private sector output is decreasing in May, although at a slower rate than in April.Manufacturing production fell at the fastest rate since October 2023, although this was moderated by a “fractional rise” in service sector output.UK firms reported that clients were cautious this month, due to business uncertainty, leading to a drop in new orders. However, worries about US tariffs have dropped this month, after Donald Trump delayed tariffs on America’s trading partners and agreed a trade deal with the UK

UK petrol prices poised to fall further as oil prices tumble

Global oil prices have tumbled by more than $1 a barrel in a sign that pressure on households at the petrol pumps could ease further.The price of Brent crude fell to $63.86 a barrel on Thursday following reports that the Opec oil cartel and its allies may increase their production for July, despite weaker global demand for fossil fuels.The price of crude is now well below the $80.53 a barrel average recorded last year, a fall that has helped to put pump prices at their lowest level in almost four years

iPhone design guru and OpenAI chief promise an AI device revolution

Everything over the last 30 years, according to Sir Jony Ive, has led to this moment: a partnership between the iPhone designer and the developer of ChatGPT.Ive has sold his hardware startup, io, to OpenAI and will take on creative and design leadership across the merged businesses. “I have a growing sense that everything I have learned over the last 30 years has led me to this place, to this moment,” he says in a video announcing the $6.4bn (£4.8bn) deal

OpenAI buys iPhone architect’s startup for $6.4bn

OpenAI is buying an untested startup for $6.4bn, the ChatGPT maker’s biggest acquisition yet. The hardware startup, called io, was founded by Apple design guru Jony Ive, known best as one of the principal architects of the iPhone. Ive and OpenAI’s CEO, Sam Altman, said in a blog post that their partnership has been two years in the making.“A collaboration built upon friendship, curiosity and shared values quickly grew in ambition,” they wrote in the blog post, which offered scant details on upcoming devices

Ollie Pope smashes 169 off Zimbabwe to show England selectors his class

There were shades of The Thick of It after Ben Stokes gave his press conference a day out from this one-off Test against Zimbabwe. When the minister – or in this instance the England captain – said Jacob Bethell would be straight back in for the series against India, this apparently referred to the squad and not necessarily the XI.That Stokes sought to make this clarification through the back channels perhaps said more about the task at hand than England’s true thoughts on the subject. No captain would ever wish to send a player out believing whatever they achieved would be irrelevant, especially not a vice-captain and selfless cricketer such as Ollie Pope.Either way, Pope was scarcely destabilised by the prospect of Bethell returning from the Indian Premier League and reclaiming the No 3 berth

England end day one on 498-3 against Zimbabwe: men’s cricket Test – as it happened

That’s it from us. Thanks for your company, correspondence and jokes about Blessing and Pope. The OBO will be back in the morning, and so will Ollie Pope – as long as Ben Stokes doesn’t declare overnight.Zak Crawley is giving an interview. In England’s practice kit, black shorts and a purple sweatshirt, he looks more laid-back than ever