BP appoints new chair after contentious ousting of Albert Manifold in May

Rolling coverage of the latest economic and financial news UK long-term borrowing costs could halve chancellor’s budget headroom The Guardian view on the global bond shock: Andy Burnham should take note Newsflash: UK government borrowing costs have jumped at the start of trading, as the bond market sell-off continues. The yield, or interest rate, on UK 10-year bonds jumped by 4 basis points (0.04 of a percentage point) to 5.268%. Thats the highest since June 2008 (Reuters reports). “The dominant theme as markets open is the renewed escalation between the US and Iran, with attacks on Iranian military and tanker targets raising concerns over further disruption in the Strait of Hormuz. Oil has extended to a six-week high, amplifying inflation concerns and driving another sharp rise in global bond yields “The market rout stepped up a year yesterday and shows no sign of stopping. Governments around the world are feeling the pressure from bond markets, but the situation is particularly acute for the UK, where Andy Burnham’s grand promises about reforming the economy are about to meet the cold reality of high debt levels and rocketing borrowing costs...

The actor criticised Paramount-Warner Bros merger, linking it to Oracle's ties with Israeli military amid Gaza genocide.

Government talks up pact but Venezuelan opposition alarmed that democracy yet to return after Maduro exit Trump administration officials on Tuesday defended a highly contentious deal giving the US control of a significant chunk of Venezuelan oil reserves, arguing that the sweeping agreement would help stabilize and rebuild democracy in the shattered South American country while giving Washington vital access to strategic crude reserves. Last week, Donald Trump announced a “groundbreaking” deal that would give the US “majority” control over 65bn barrels – roughly one-fifth – of Venezuela’s oil reserves...