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Latest reading on Wednesday likely to frame scale of challenge for new PM to ease pressures on households amid Iran war fallout British households are facing a renewed cost of living squeeze, with official figures expected to show this week that soaring energy bills drove up inflation in July to close to 3%.As the Iran war continues to send shock waves through global energy markets, economists predict the surge in UK gas and electricity bills last month will push Britain’s headline inflation rate to 2.9%. Continue reading...

• Prescriptions for leucovorin surged in the US following a September 2025 White House press conference that suggested the drug as a treatment for autism. • A study published in The New England Journal of Medicine (NEJM) highlights that this increase occurred despite a lack of supporting clinical data for such use. • Leucovorin is a folic acid analog typically used to mitigate side effects from methotrexate; it is not FDA-approved for autism, though it is used for cerebral folate deficiency.

The administrative work required to run an effective investment scam has been drastically cut by using merging technologyGet our breaking news email, free app or daily news podcastWithin days of clicking on an online ad for a cryptocurrency trading app, a 29-year-old Queensland man watched his dashboard soar with profits.Making investment gains was as simple as downloading the slick-looking app and browser extension linked to his crypto wallet. So he invested more. Continue reading...

Falling water levels linked to weather system are expected to limit number of slots to transit shipping laneBusiness live – latest updatesCommercial ships travelling through the Panama Canal are facing a rise in costs amid disruption triggered by the Iran war and falling water levels linked to this year’s intense El Niño weather system.Highlighting the fragility of global trade, a container ship reportedly paid about $4m (£3m) to jump a queue of vessels waiting to pass through the vital maritime choke point. Continue reading...

Drought and wildfires intensify across continent, while tropical storms bring heavy rain and disruption to east AsiaEurope live – latest updatesHigh pressure has dominated central and eastern Europe in early August, breaking temperature records across the region. Austria recorded a high of 41.2C (106.2F), while Slovakia reached 42.2C. Hungary hit a peak of 41.8C, surpassing a record set in 1905, while overnight temperatures remained above 28C in some areas, marking it as a tropical night.The extreme temperatures have been driven by a heat dome beneath the high-pressure system, which traps warm air close to the surface. Continue reading...

Environmentalists and activists furious as Trump’s policies raise costs for US families. Plus, the undiscovered masterpiece that was left lying in museum storageGood morning. Donald Trump’s statement that oil companies have made “too much money” from the Iran war has angered environmentalists, who say his policies were designed to benefit those very corporations.American families have paid more than $78bn more at the pump since the start of the Iran war, according to a Brown University tracker. And a recent analysis from the environmental advocacy group Climate Power and the Center for American Progress Action Fund, a liberal thinktank, found that Trump’s policies had cost the average American family $285 more when filling up their cars.What policies has Trump enacted to help the oil industry? Since re-entering the White House last year, he has eased dozens of restrictions and regulations on fossil fuel expansion, exempted fossil fuel producers from environmental rules, and signed an executive order last year directing the attorney general to prioritize blocking climate lawsuits targeting oil majors. Trump has also personally invested in major oil companies.What did the supreme court previously rule? In the court’s June decision, the chief justice, John Roberts, said Trump’s first order violated the 14th amendment of the US constitution. “Citizenship, then and now, was the right to have rights – to freely participate in our political community,” he wrote. “The framers of the 14th amendment extended that promise to ‘every free-born person in this land’. We keep that promise today.” Continue reading...

• On August 7, 2026, the Indian stock market saw a decline, with the Sensex dropping 400 points and the Nifty slipping to 24,560. • Individual stock performance was mixed, highlighted by a 13% surge in Siemens Energy and a 5.5% plunge for Bajaj Finance. • Regional economic updates include South Korea's increased confidence in hitting 3% GDP growth and Indonesia's plan to seize control of a China-backed high-speed rail project.