FTSE 100 share index hits 9,000 points for the first time; US inflation rate rises to 2.7% – as it happened

Newsflash: Britain’s blue-chip stock index has risen through the 9,000 point mark to hit a new record high.The FTSE 100 share index hit 9,016.98 points at the start of trading in London, up around 0.2% today, taking its gains during 2025 to over 10%.That’s a new intraday high for the “Footsie” (as it is known in City circles)

US inflation rose in June as Trump’s tariffs start to show in prices

Inflation accelerated in June as the impacts of Donald Trump’s tariffs slowly started to show in US prices.Business leaders have said for months that the high, volatile rates of Trump’s tariffs will force companies to raise consumer prices. Prices remained stable in the spring, particularly as many of Trump’s highest tariffs were paused; however, they started increasing in May and have continued to rise in June.Annual inflation rose to 2.7% in June, up from 2

Reeves unveils City strategy aimed at cutting red tape and fuelling UK growth

Rachel Reeves has unveiled a package of City changes meant to cut “unnecessary” red tape and encourage more financial risk-taking by companies and consumers in the hopes of spurring economic growth.In a financial services strategy dubbed the Leeds Reforms, the chancellor outlined initiatives designed to boost the financial services sector, including plans to cut “unnecessary costs” related to accountability rules for senior bankers, and to launch an advertising campaign to get consumers investing cash savings in stocks.The UK government will review ringfencing rules – introduced after the 2008 financial crisis – that are meant to protect consumer cash from a bank’s riskier business activities.The independence of the Financial Ombudsman Service, which settles complaints between consumers and businesses, will also be watered down, while the rate of interest – and total compensation – that banks and other City firms have to pay to wronged consumers will be reduced.There will also be a review of risk warnings attached to investment products to ensure that people are “accurately” judging risk levels

Thames Water warns nationalisation is likely if emergency creditor talks fall

Thames Water has said it could collapse into temporary nationalisation if emergency talks with creditors fail, as it slumped to a £1.6bn annual loss.The loss for the 12 months to 31 March comes after a profit of £154m the previous year, even though revenues climbed by 8.7% to £2.7bn

Starbucks tells corporate staff in US and Canada to work in office at least four days a week

Starbucks has ordered its corporate staff to work from the office at least four days a week from late September and is offering cash payments to those who choose to quit instead.Brian Niccol, the chief executive of the Seattle-headquartered coffee chain, said many of its employees would be required to work in the office for a minimum of four days a week, up from three, from Monday to Thursday.The edict will apply to its Seattle and Toronto support centres and its regional offices in North America. The change does not apply to the UK, where Starbucks has its head office in Chiswick, west London.“We do our best work when we’re together,” Niccol said in a message to employees, referred to as “partners”, on the company’s website about “re-establishing an in-office culture”

Thousands of vehicles sit idle at EU port as Trump’s tariffs leave their mark

The Port of Antwerp-Bruges has been turned into a giant car park with thousands of cars, vans, trucks and tractors bound for the US sitting idle as manufacturers try to avert the worst of Donald Trump’s tariffs.Figures released by the port show a 15.9% drop in the transport of new passenger cars and vans to the US in the first six months of 2025 compared with the same period last year, with a sharp decline emerging in May – one month after the US president announced his “liberation day” tariffs.Exports of trucks and what they call “high and heavy equipment” is down by almost a third at 31.5%