Iran war costs Toyota £3bn as prices of materials soar and sales fall

A Kitt lookalike was filmed speeding in Brooklyn but the fine was sent to a museum where a replica is on displayA replica of the talking car Kitt from the 1980s US television action series Knight Rider for years has been parked in a museum about an hour’s drive north of Chicago, so how did it get a speeding ticket in New York City?That is the question the Volo Museum is asking after it says it was recently mailed a $50 fine by New York City for a violation caught by traffic camera, alleging that its Knight Industries Two Thousand – Kitt for short and a black Pontiac Trans Am– got busted going 9mph over the speed limit in a 25mph zone on 22 April. Continue reading...

Whoever wins the Labour leadership tussle, the chancellor’s prospects for staying inpost have risen given the surprise GDP boostBusiness live – latest updatesUK economy records surprise 0.3% growth despite Iran warThe message from Rachel Reeves is clear. After Britain’s economy defied the predictions for a slump in March, despite the fallout from the Iran war, why put things at risk with a roll of the dice in domestic politics?Responding to bumper growth of 0.3% in March – much stronger than City economists’ forecasts for a 0.2% contraction – the chancellor said the figures showed she had the right economic plan, in a comment laced with subtext. Continue reading...

Impact of disruption caused by US-Israeli war on Iran may be felt into 2027 even if strait of Hormuz reopens, says aviation body headIncreases in air fares for travellers in Europe are “inevitable” over the peak summer period because of the high cost of jet fuel, according to the head of the international aviation body.While some airlines faced with weak demand have reduced their European fares recently, Willie Walsh, the former British Airways boss who leads the International Air Transport Association, said there was no way carriers could absorb the extra costs in the long run. Continue reading...

Findings of inquiry into stamp duty paid on Hove flat crucial to any leadership bidUK politics live – latest updatesAngela Rayner has been cleared by HMRC of deliberate wrongdoing or carelessness over her tax affairs, the Guardian reported, paving the way for a potential leadership bid as Keir Starmer’s grip on power unravels. Continue reading...

Russia has deployed more than 1,500 drones in the last two days, according to Ukraine’s president Volodymyr ZelenskyyAfter a tense day of intense attacks on Wednesday, Russia has continued its strikes on Ukraine overnight, with at least one dead and 40 injured in the capital, Kyiv, after reported hits on civilian infrastructure.Ukraine’s president Volodymyr Zelenskyy responded to the strikes, saying:“These are definitely not the actions of those who believe the war is coming to an end. It is important that partners do not remain silent about this strike.” Continue reading...

Asymptomatic people allowed off ship from Wednesday afternoon but those infected ordered to remain in isolationA norovirus-hit cruise ship carrying mainly passengers from the UK and Ireland has had a French lockdown order lifted.All 1,701 people onboard Ambition were prevented from disembarking for more than 24 hours after it docked in Bordeaux on Tuesday, as one person died and dozens became ill with a vomiting virus. Continue reading...

The former deputy prime minister said she should be keen to ‘play my part’ in the event of a leadership contestFull report: Angela Rayner cleared by HMRC over tax affairs paving the way for potential leadership bidIn her interview with ITV, Angela Rayner, the former deputy PM, said she would not be making a pact with Andy Burnham to challenge Keir Starmer. “I’m not doing deals or anything like that,” she said.Good morning. Today it looks as though the phoney Labour leadership contest that has been bubbling away at least since Sunday may finally turn into a real one. Westminster is braced for Wes Streeting, the health secretary, to announce that he is standing – although journalists are not yet 100% certain it will happen. Continue reading...

The state’s opposition said case was proof ‘the justice system is broken’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Victorian Labor government says it will “do everything” it can to “toughen consequences” for young offenders after police withdrew 109 charges against a 14-year-old girl, in a case the opposition described as proof “the justice system is broken”.The girl, who cannot be identified for legal reasons, had been facing 109 charges, including reckless conduct endangering serious injury, motor vehicle theft and burglary, after an alleged two-month crime spree earlier this year when she was aged 13. Continue reading...

US president says he and his Chinese counterpart have ‘known each other for a long time’ and Xi is ‘great leader’Trump in Beijing – latest updatesFive key issues for Xi-Trump summitThe US president, Donald Trump, has met China’s leader, Xi Jinping, for a momentous summit that will pack negotiations on global conflict, international trade and the future of artificial intelligence into just over 24 hours.Trump arrived at the Great Hall of the People, an imposing Mao-era building that borders the western edge of Tiananmen Square, on Thursday morning for an opening ceremony followed by an hour of face to face talks with Xi. Continue reading...

UK expert tells Australian inquiry how antisemitism developed and that governments must define it in order to develop policies against itFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastOld tropes about Jewish people – such as those found in the fraudulent and debunked Protocols of the Elders of Zion – have morphed and been melded into modern-day antisemitism, the royal commission has heard.On Thursday morning, the royal commission into antisemitism and social cohesion heard from Dr Dave Rich, the Community Security Trust’s policy director. Continue reading...

Reputation of Australia’s big supermarkets takes another hit as federal court finds Coles misled shoppers by promoting fake discountsGet our breaking news email, free app or daily news podcastColes’s “Down Down” promotion is one of Australia’s best known campaigns. But the supermarket has been caught red-handed after a federal court judge found Coles misled shoppers by promoting fake discounts.Through its proceedings, Australia’s competition regulator has given consumers an intriguing look-behind-the-curtain moment, exposing how a major supermarket sways shoppers to buy its products. Continue reading...

GDP reading ties in with some surveys suggesting UK plc has kept up momentum despite rising fuel costsThe UK economy unexpectedly grew during the first full month of the Iran war, according to official figures, suggesting the Middle East conflict has not yet affected growth as much as feared.Figures from the Office for National Statistics (ONS) showed growth of 0.3% in gross domestic product (GDP) in March, from a revised 0.4% rise in February and 0% growth in January. The ONS had originally estimated that the economy grew 0.5% in February and 0.1% in January. Continue reading...