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power

‘Inept, incompetent, craven’: Scott Bessent struggles to clean up the president’s mess

There’s little optimism about treasury secretary’s ability to handle Trump’s tariffs, Iran sanctions and colossal US debt History remembers Gen Dwight Eisenhower, the supreme commander of the allied forces in Europe during the second world war, for his role in the D-day invasion of Normandy. Whether Scott Bessent will achieve similar posterity as the face of the “economic D-day” in Iran remains to be seen. The US treasury secretary, already trying to manage a $40tn national debt pile, this week took charge of Donald Trump’s effort to reverse-engineer his war of choice. Whereas the US would typically take on an adversary with diplomacy, sanctions and military force, in that order, the US president started with a six-month bombing campaign and now hopes that economic isolation can finish the job...

The Guardian • 8/29/2026, 12:00:27 PM
power

Why some Wang Fuk Court owners have refused buy-back deal even as deadline nears

As the deadline approaches for homeowners to accept the Hong Kong government’s deal to buy back their flats at fire-ravaged Wang Fuk Court, some who refuse to sell have said the offer cannot make up for the loss of their property and communal bonds. With the clock ticking to the August 31 cut-off date, the South China Morning Post spoke to six residents determined not to sell their homes at the devastated Tai Po estate, even though experts see the government’s offer as generous and compulsory...

South China Morning Post • 8/29/2026, 4:00:19 AM
health

China hospital joins nightclubs in offering marriage services to fight low wedding rates

Following temples and nightclubs, a Chinese bank and a hospital have recently begun offering marriage registration services, igniting discussions on the Chinese government’s commitment to promoting nuptials. In August, a branch of the Postal Savings Bank of China, located in the northern municipality of Tianjin, became the country’s first bank to provide marriage registration services. While online observers mocked the unusual pairing of finance and romance – joking that only nuptials at a...

South China Morning Post • 8/29/2026, 2:00:24 AM
power

US Treasury sanctions Hong Kong-based firm over Iran money laundering ties

The United States announced sanctions on a Hong Kong company on Friday for allegedly helping launder funds for a sanctioned Iranian exchange house, the latest Chinese entity to be targeted as part of Washington’s expanded efforts to squeeze Iran’s financial sector. The development comes as Washington has in recent days slapped new Iran-related sanctions on various Chinese entities, prompting Beijing to vow retaliation just weeks before Chinese President Xi Jinping’s expected visit to the...

South China Morning Post • 8/28/2026, 10:14:19 PM
sports

Archer illuminates fading summer as Pakistan’s marzipan men melt away | Barney Ronay

The tourists offered little but Jofra again invited us to marvel at what he is and mourn what could have been At almost exactly 4.19pm on the second day of the second Test something almost happened. The sun, only ever grudgingly present, appeared just enough overhead to offer a lime green sheen to the late-season outfield, as weathered as an antique heirloom carpet. Pakistan had gradually slumped under the table between lunch and tea at Lord’s. They were lolling at 110 for nine, product of 37 overs of almost entirely anonymous batting. This is an unusual Pakistan, if only in their absolute and unyielding ordinariness. The classic Pakistan Test team are an uneasy balance of stars, perhaps a little overwhelmed by their own weapons: speed, seam, spin, luminous top-order batting, all mixed in with the ballast of some unspectacular other guys...

The Guardian • 8/28/2026, 8:26:43 PM
business

Fed chair says delivering ‘stable prices’ is central bank’s job as inflation persists

However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it was “the Fed’s job to deliver stable prices”. Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran. But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump, who has aggressively called for rates to be cut...

The Guardian • 8/28/2026, 3:48:57 PM
business

Warsh signals US Fed may need to raise rates if above-target inflation lingers

The US central bank will “have work to do” if policymakers are not confident that underlying inflation is returning to its 2 per cent target, Federal Reserve Chairman Kevin Warsh said on Friday in remarks that acknowledged financial conditions do not appear restrictive and marked the closest he has come to acknowledging interest rate hikes may be needed to ease price pressures. “Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at...

South China Morning Post • 8/28/2026, 3:13:26 PM
power

John Healey to duck meeting UK defence spending target in budget

Chancellor pledges ‘fiscal discipline’ as plan to spend 3% of GDP on defence by 2030 deferred until 2027 review The new chancellor, John Healey, will delay setting out when the UK will meet the target of spending 3% of GDP on defence until next year’s spending review, the Treasury has confirmed. Healey resigned as the defence secretary in June under Keir Starmer’s leadership, accusing the then prime minister of being “unable” and the Treasury “unwilling” to “commit the resources that the nation needs to defend the country”...

The Guardian • 8/28/2026, 10:00:22 AM
business

US Federal Reserve’s Kevin Warsh gears up for key Jackson Hole conference as inflation fears mount – business live

Rolling coverage of the latest events in global financial markets, the economy and major corporate moves Good morning, and welcome to our rolling coverage of the global economy, the financial markets, business and the global economy. All eyes are on a mountain valley in Wyoming today, as central bankers and economists gather close to Yellowstone national park for a top-level symposium. It will be Kevin Warsh’s first as Fed Chair, at a time when inflation remains stubbornly above target and long-term yields have been under pressure. Kevin Warsh is trying to change the way the Fed functions and communicates its policy to the market (or whether it communicates at all!). Investors are questioning, since Treasury announced last week that it would increase its longer-term bond buybacks to tame borrowing costs, how the Fed will respond to the Treasury’s intervention in the bond market, which – if successful – could interfere with the Fed’s policy path and the transmission of its policy to the economy. 10am: Eurozone inflation report for August 1.30pm: Canadian GDP for the second quarter 3pm UK (10am EDT: Fed chairman Kevin Warsh delivers the keynote address at Jackson Hole Economic Policy Symposium in the US 3pm: University of Michigan consumer sentiment index..

The Guardian • 8/28/2026, 6:31:28 AM
power

Hormuz deal presses pause on Iran conflict, but fears of ‘forever war’ remain

A diplomatic push by Oman, Pakistan and Qatar is widely expected to yield another pause in the Iran conflict, but there remains little prospect of a stop to what analysts fear has already become a “forever war”. On Monday, Iran and Oman agreed in principle to a temporary maritime route for ships travelling through the Strait of Hormuz. This could lead to the easing of the tit-for-tat blockades imposed by Iran and the US if President Donald Trump’s administration accepts it. Regional mediators...

South China Morning Post • 8/28/2026, 5:00:07 AM
power

Trump hints at sanctions on Chinese banks over Iran ties before Xi’s expected US visit

US President Donald Trump on Thursday hinted at sanctioning Chinese banks over their commercial links with Iran, just weeks before Chinese leader Xi Jinping is expected to visit Washington for a bilateral summit. “Who said I’m not?” Trump said in response to a reporter’s question about why the US had not sanctioned Chinese banks for their dealings with Iranian entities. “Well, I don’t have to announce everything, do I?” Trump’s remarks come days after Treasury Secretary Scott Bessent announced...

South China Morning Post • 8/27/2026, 10:44:47 PM
climate

Climate crisis could be destabilising mountain areas like Nepal, experts warn

Unusual heat this year may have melted ice and thawed bonds that hold glaciers in place – leading to catastrophe Nepal-Tibet flash flood – latest updates What caused the flash flood in Nepal and Tibet? The devastating flash flood that ripped through the border communities of Nepal and Tibet has heightened fears that the climate crisis is destabilising the geology of mountain and polar regions, threatening millions of people. Satellite imagery suggests a glacier collapse high in the Himalayas was the primary cause of the deadly torrent of mud, water and ice that tore along the Bhotekoshi River on Wednesday. It swept away buildings and roads and left at least 360 dead and 1,400 missing...

The Guardian • 8/27/2026, 6:02:51 PM
business

UK airports operator hit by cyber-attack and customer data accessed

Company that runs Manchester, Stansted and East Midlands airports says passenger safety is unaffected Business live – latest updates Three UK airports have been hit by a “cybersecurity incident” in which the data of about 8.7 million customers was accessed, Manchester Airport Group (Mag) has said. The company, which operates Manchester Airport, London Stansted and East Midlands airport, said that “at no point has passenger safety or aviation security been compromised” during the incident and that neither Mag nor the system hacked held customers’ bank or payment details...

The Guardian • 8/27/2026, 12:21:11 PM
business

Top of the crops: record heatwaves help deliver bumper UK berry harvest

Investment in climate-resilient irrigation enables this year’s haul to rise 6% on 2025’s already bigger-than-usual yield British farmers have faced a sweltering summer tested by heatwaves, wildfires and water shortages – but a bumper berry harvest could prove a rare bright spot. With two-thirds of the harvest now picked, this year’s haul is 6% up on last year’s already unusually large crop, according to British Berry Growers (BBG). Volumes of blackberries, blueberries and raspberries picked have been particularly strong, the trade body said...

The Guardian • 8/27/2026, 4:00:04 AM
climate

France to relax cheese production rules after drought takes toll on grazing land

Comté, beaufort and abondance makers can temporarily supplement cows’ diets as there is ‘no grass left to eat’ Strict production rules will be loosened for some of France’s most famous cheeses after drought and repeated heatwaves dried out grazing pastures, threatening the livelihoods of traditional dairy workers. Comté, a hard cheese made from raw cows’ milk in the Jura mountains, is France’s top-selling traditional cheese, with more than 62,000 tonnes produced last year. The government announced on Wednesday that its producers would be granted a temporary change to strict rules on grazing after farmers said extreme heat had scorched their pastures, putting production at risk...

The Guardian • 8/27/2026, 4:00:03 AM
business

Meta’s settlement will compel others to bend the knee and set up teen guardrails

Instagram and Facebook’s parent company agreed to sweeping alterations and a payment of upto $18bn to settle a landmark trial Meta’s agreement to change how teenagers use its social networks marks a major turning point for the US tech giant, setting a precedent that could significantly reshape how other social media operates in the coming years. Meta agreed to substantial alterations to Instagram and Facebook on Wednesday as part of a settlement to end a landmark lawsuit. Dozens of US states had accused it of addicting and harming children with dangerous products. The company also agreed to pay up to a combined $18bn over a decade to several US states and territories involved in the suit...

The Guardian • 8/26/2026, 10:20:21 PM
power

Pubs, bars and hotels report ‘Burnham bounce’ in optimism but call for further tax relief

Sentiment in hospitality and brewing sectors more positive since business rates action, trade bodies’ survey finds Pubs, bars and hotels have reported a “Burnham bounce” in optimism as a result of the prime minister’s overtures to the sector, polling suggests, but they warn that the goodwill could evaporate without further tax relief. Andy Burnham has positioned himself as a staunch ally of the UK’s hospitality industry both before and since his arrival at No 10, last month announcing a discount on business rates for pubs, clubs and live music venues...

The Guardian • 8/26/2026, 2:35:24 PM
business

UK households face 4% rise in energy bills to average of £1,723 from October – business live

Gas and electricity bills rise to highest level in three years The 4% rise in the energy price cap is as expected. Neil Kenward, Ofgem’s director general for markets, said: High international gas prices are continuing to drive energy costs in the UK. We welcome the government’s intervention to remove VAT from electricity bills, without which customers would have faced even higher costs this winter. Savings are available by choosing a fixed tariff, which are available at £100 or more below the October price cap, and many suppliers offer tariffs with cheaper electricity to smart meter customers for electricity consumed out of peak times. It’s also worth considering different payment methods, with prepayment customers paying the lowest price cap rates, and could save consumers an average of about £45 compared to direct debit. This increase reflects higher wholesale gas prices as a result of the ongoing conflict in the Middle East, with volatile global gas markets remaining the dominant driver of price changes. However, prices remain 52% below the height of the energy crisis in 2022 when the government stepped in to cap bills at £2,500. While higher wholesale prices are pushing up both gas and electricity costs, the VAT reduction means electricity bills will remain broadly stable. As a result, most of the increase in the price cap is driven by higher gas costs, with gas bills rising by 8%, meaning that households which do not use gas will see a much smaller increase of less than 1%. Without the government’s intervention on VAT, this figure would have been around £45 higher. The VAT removal also benefits customers currently on fixed tariffs, with the discount automatically applied by suppliers...

The Guardian • 8/26/2026, 6:13:14 AM
money

Is the Trump Treasury panicking over the level of US debt?

With the federal deficit near 6% of GDP and the national debt over $40tn, America’s fiscal position looks increasingly precarious Bessent ‘will lose’ battle with bond markets, ex-mentor warns Are we seeing the first signs of panic in Donald Trump’s Treasury? The US is by far the world’s biggest debtor, and the steady rise in global long-term interest rates – which I have long argued was inevitable – is starting to cause real pain. Until now, the Treasury secretary, Scott Bessent, has dismissed concerns about US debt, which recently surpassed $40tn, as a big nothingburger. Growth, in his telling, will be so spectacular the US will easily be able to meet its interest obligations without any significant tax rises or spending cuts, while the rest of the world will happily keep feeding it money. But if Bessent really believes that, why is he trying to strong-arm the bond market by fiddling with the maturity structure of government debt?..

The Guardian • 8/26/2026, 5:00:34 AM
technology

Billionaire investor says he used AI to write critique of former mentee Scott Bessent

Stanley Druckenmiller said he was ‘proud of using it’ as wider media grapples with parameters around AI use Stanley Druckenmiller, a billionaire investor, said he used artificial intelligence to pen his viral Wall Street Journal op-ed in which he sharply criticized the interference of Scott Bessent, the US treasury secretary, in the US bond market. Many news outlets, including the Guardian, covered the editorial, highlighting Druckenmiller’s rebuke of his former mentee, Bessent. As the story circulated online, some readers questioned rhetorical choices that resembled AI-generated text...

The Guardian • 8/26/2026, 12:38:49 AM
business

The Guardian view on Trump’s economic threats: bullies can overplay their hand | Editorial

Tariffs on Canada, threats against Iran’s partners and bond market intervention show a president weaponising US power while making Americans poorer at home Three moves in the last week have exposed the limits of Donald Trump’s economic bullying. The US slapped 50% tariffs on another $20bn of Canadian goods – then threatened the same rate on the cars, trucks, parts and steel that America Inc depends on. On Monday, the Treasury secretary, Scott Bessent, menaced Iran’s trading partners with exclusion from the US financial network, hoping that coercion can deliver what months of war have not. And as the costs of war, tariffs and pro-billionaire tax cuts helped send US bond yields higher, the Treasury stepped in to tame long-term rates. These are not contradictory policies but a gamble: that US economic power can be repeatedly weaponised without reducing others’ willingness to depend on it. The Trump administration’s “D-day” sanctions are potentially the most consequential because they expose the scaffolding of American financial power. While markets shrugged off the immediate threat, that calculation might change were the US to target a major Chinese refinery or bank. Such an escalation could spark a trade war with Beijing. The US has leverage. But China has pressure points – especially farmers in Republican states – that make using it costly. In the long run, there is a price to pay. Nations hold one another’s currencies partly because they trust the political relationship. Mr Trump is testing what happens when they don’t...

The Guardian • 8/25/2026, 5:27:24 PM
climate

Two planned datacentres will have higher UK carbon emissions than ExxonMobil, analysis finds

Exclusive: Buckinghamshire and Bedfordshire sites predicted to emit 4.5m tonnes a year when fully running The carbon emissions from just two planned datacentres in England will exceed all of the fossil fuel company ExxonMobil’s UK emissions, analysis has revealed. Experts have said this demonstrates the “serious threat” datacentres pose to the UK’s legally binding climate goals...

The Guardian • 8/25/2026, 11:04:56 AM
business

US Treasury’s Scott Bessent ‘making mistake’ interfering with bond markets, former mentor warns

Trump ally should cut budget deficit rather than try to suppress bond yields, says billionaire Stanley Druckenmiller Scott Bessent’s attempt to calm the bond markets and push down America’s cost of borrowing have attracted a rebuke from the US Treasury secretary’s former mentor. Billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros’s fund management firm in the 1990s, has warned that his former pupil is courting danger by trying to suppress US bond yields...

The Guardian • 8/25/2026, 6:57:55 AM
business

Gold hits highest level in three months as traders worry about US inflation and bond market jitters – business live

Spot gold touches almost $4,700 an ounce and Bitcoin tops $80,000 while oil prices fall despite threat of heavy US sanctions on Iran and any country trading with it Ipek Ozkardeskaya, senior analyst at Swissquote, has sent us her thoughts on gold. Renewed appetite for gold despite elevated long-term US yields is striking and sends a clear message: investors are moving back to the precious metal as: A hedge against unclear US fiscal plans and the lack of conviction in the US administration’s capacity to rein in exploding debt when military expenses are adding to already heavy bills. A hedge against inflation, amid questions over the Fed’s willingness, or ability (!), to fight inflation independently. A hedge against a potential rout across global risk assets on worries about high valuations, massive AI spending and the growing financing web around the companies involved in building the AI ecosystem – the circularity. The question is: will gold gather enough momentum to return sustainably above the $5,000 mark? Possibly, yes. The broad de-dollarization trade that’s quietly building in the background, justified by global institutions’ efforts to diversify away from US Treasuries and toward gold, remains supportive of gold in the longer run. In the shorter run, overbought conditions could lead to downside corrections, giving dip-buying opportunities to long-term bulls. Well, we are giving everyone the opportunity to remedy bad behaviour. Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious...

The Guardian • 8/25/2026, 6:49:36 AM
power

China is the biggest buyer of Iran’s oil. Could US sanctions threaten those ties?

The US has put the world on notice to cease doing business with Iran, but experts say Washington is wary China could retaliate against any sanctions The US has unveiled an expansion of sanctions that it says will cut off Iran’s economic lifeline but stopped short of the most punishing measures, instead putting the world on notice to cease doing business with the Islamic republic. Treasury secretary Scott Bessent ⁠warned other countries would need to sever ⁠business ties with Iran or risk being ​forced out of the dollar-based financial system. He previously urged cooperation from China – the biggest buyer of Iranian oil for several years – although the US blockade of Iran’s ports, renewed in mid-July, has already cut much of the Iranian oil flows to China...

The Guardian • 8/25/2026, 2:44:59 AM
power

Iran vows to retaliate against countries that cooperate with fresh US sanctions

Test of US rhetoric will rest on whether nations such as India, China and Russia view economic threats as credible Iran has vowed to retaliate against any country that cooperates with the US attempt to impose fresh sanctions against Iran in what the Treasury secretary, Scott Bessent, has billed as “the single greatest financial offensive ever marshalled against an adversary”. In advance of the US announcement, the United Arab Emirates, Iran’s single biggest trading partner in the Middle East, announced it was ending all trade with Iran, a move Tehran believes was coordinated between Washington and Dubai...

The Guardian • 8/24/2026, 11:53:10 AM
money

The treasury bond mess: is this the demise of the US as a safe haven?

The US is scooping up treasury bonds in an effort to raise their price and push yields down – but it’s not working The bond market is driving the Trump administration crazy. Last week, the treasury secretary, Scott Bessent, announced that the government would sharply ramp up its purchase of treasury bonds, in an effort to raise their price and thus push down their yield, which amounts to the interest rate the government pays on its debt. It didn’t quite work as planned. Yields on treasurys fell after Bessent’s bond market intervention but soon bounced back. By Friday afternoon, the yield on the 10-year treasury was back near where it was before the secretary’s announcement. The yield on the 30-year bond was again trading around its highest level in 20 years or more...

The Guardian • 8/24/2026, 10:00:30 AM
business

New Fed chair faces critical test at Jackson Hole as inflation fears mount

Investors will hope Kevin Warsh offers ‘comfort blanket’ at annual meeting of central banks amid bond market anxiety The new US Federal Reserve chair, Kevin Warsh, faces a critical test this week amid anxiety in government bond markets over inflation and Donald Trump’s tax and spending plans. As the world’s most powerful central bank prepares for its annual Jackson Hole conference, analysts said bond traders would be looking for signals from Warsh over its commitment to fighting inflation...

The Guardian • 8/24/2026, 5:00:52 AM
business

Former Abercrombie CEO mentally fit for sex-trafficking trial, judge says

Michael Jeffries is ruled mentally competent to stand trial after being hospitalized for months for dementia symptoms The former CEO of Abercrombie & Fitch has been ruled mentally competent to stand trial as he faces sex-trafficking charges after being hospitalized for months for dementia and Alzheimer’s symptoms. Michael Jeffries, who is 82 and free on bond for now, is scheduled to be tried in late October, alongside two co-defendants: his partner Matthew Smith and staffer James Jacobson. A pretrial hearing was slated for Thursday...

The Guardian • 8/23/2026, 2:32:56 PM
business

Jumpy bond markets make it clear: Trump risks driving US into debt crisis | Heather Stewart

Treasury secretary Scott Bessent’s attempt to calm bond markets is a sign of weakness not strength “Look, there’s nothing magic about that $40tn number,” the US Treasury secretary, Scott Bessent, told CNBC insouciantly last week, as the country’s debt mountain surpassed another bleak record. Yet Bessent’s decision to intervene in government bond markets in an effort to combat soaring yields, belied his studied calm in TV interviews – and reignited fears the US may be on the road to a debt crisis...

The Guardian • 8/23/2026, 10:53:53 AM
health

US kindergarten vaccination rates dip as exemptions hit record high

New CDC data shows MMR vaccination among kindergarteners declining slightly as non-medical exemptions climb to 4.2% A week after Donald Trump made a series of misleading claims about vaccines – including that some injections look “like the size of a soda bottle” – the Centers for Disease Control and Prevention (CDC) released the latest data on national kindergarten vaccination rates. CDC communications downplayed the changes – a three-sentence announcement said, “overall vaccination rates among kindergarteners remained high” – but medical experts immediately saw cause for concern in the trends...

The Guardian • 8/22/2026, 11:00:02 AM
climate

‘Its pretty much a guarantee you’ll get stung’: jellyfish keep swimmers out of Delaware beaches

Beach patrols report hundreds of stings a day as warmer waters and drought create favorable conditions for jellyfish An unusually high number of jellyfish are crowding Delaware’s beaches this summer amid climate change and other environmental factors – keeping some beachgoers out of the ocean and stinging lifeguards as well as bathers. Beach safety patrols in the state have reported hundreds of daily stings as the jellyfish have increased with intensifying environmental factors, including warmer waters, hot and dry conditions, and water circulation favorable to the invertebrates...

The Guardian • 8/22/2026, 10:00:00 AM
world

Albanese: Canberra to join Australia’s gun buy-back program after Bondi attack

Australia’s capital will join a gun buy-back ⁠as part of ⁠a response to a ⁠shooting spree that killed 15 at a Jewish festival in Sydney, Prime Minister Anthony Albanese said on Saturday. Albanese’s centre-left government enacted laws in January for the gun buy-back, tighter checks for gun ‌licences and a crackdown on hate in the wake of the December 14 gun attack at a Bondi Beach Hanukkah celebration in Sydney, the capital of New South Wales. The state, Australia’s most populous, became the...

South China Morning Post • 8/22/2026, 9:36:45 AM
science

Subterranean salad: underground farmers seek solution to food crisis in disused UK mines

Researchers in North Yorkshire feel the clock ticking as they aim to transform British food production It has the vibe of a Bond villain’s underground lair but the workers in hi-vis and helmets aren’t weighing and packing hard drugs or parts for a death laser. It’s pak choi and lettuce. More than 1,000 metres down, researchers in North Yorkshire have created the world’s deepest underground farm and are running trials for a project that could transform UK food production...

The Guardian • 8/22/2026, 7:00:56 AM
sports

Smoke and mirrors fill the vacuum as Springboks and All Blacks brace for battle

South Africa welcome New Zealand for their Greatest Rivalry series with the suspicion that they plan on beating the tourists at their own game The problem with Test weeks is that they can feel long. Cricketers can play for days on end, footballers every few nights, but rugby players step on to the international stage for just 80 minutes per week. The result is a drawn-out vacuum in the buildup and if it’s not a “war of words” unfolding, it tends to be head coaches ramming home their points to the referee. We lap it up, of course we do as we wait for Saturday to come, and though the pre-match sparring between South Africa and New Zealand is tedious to some, it is all part of the fun to others. This week in Johannesburg has been lively without crossing the line into poisonous. Suffice it to say that the referee Matt Carley is in for one hell of an afternoon in Saturday’s series opener at Ellis Park but the very fact that both Rassie Erasmus and Dave Rennie have stepped on to the offensive demonstrates the magnitude of the coming four-Test series. It promises to be a barn-burner...

The Guardian • 8/21/2026, 12:42:06 PM
climate

Cut cost of loans for solar panels on UK homes, ministers urged

Report says ‘solar bonds’ could fund wider access to clean energy, reducing household bills Solar panels could be cheaper for people on lower incomes if the government stepped in to reduce the cost of loans, a report argues. Solar panel installations can save households hundreds of pounds a year in energy bills, but at an initial cost of about £5,000 to £10,000 they are beyond the reach of many households...

The Guardian • 8/21/2026, 8:00:28 AM
business

UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget

July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlier The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget. City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments...

The Guardian • 8/21/2026, 6:34:11 AM
health

‘Billy’s thriving’: family’s joy as boy who helped legalise cannabis medicine in UK turns 21

Mother of Billy Caldwell, who has severe epilepsy, celebrates son’s story while pushing for better access to prescription cannabis for families who need it When Billy Caldwell was a baby he was not expected to survive infancy. A severe form of epilepsy condemned his tiny body to daily seizures – brutal, draining and each one potentially fatal. “They couldn’t get the seizures under control,” his mother, Charlotte, recalled. “Billy was sent home to die – we were told he wouldn’t see past his first birthday.” That prediction was in 2005. Last month Billy, who is autistic, celebrated his 21st birthday at home in a bucolic corner of Northern Ireland with family, friends, cake and a wide smile...

The Guardian • 8/21/2026, 5:00:26 AM
money

Why is US bond market turmoil hitting governments worldwide? | Richard Partington

As yields are dragged higher in the UK, Europe and Japan, the impact for consumers and businesses will be far-reaching Government borrowing costs around the world have surged to the highest levels in decades amid growing fears over US bond market turmoil. Anxiety about Donald Trump’s handling of the US economy, and concern that the US president’s war with Iran is driving up inflation, are triggering a sell-off in the US bond market...

The Guardian • 8/20/2026, 4:14:59 PM
business

Specsavers pays £12m dividend to parent company after jump in earnings

Pre-tax profits rose at high street opticians to £429.7m in the year to February while sales rose 7% to £4.3bn Specsavers has paid £12m to its parent company controlled by founders Doug and Dame Mary Perkins after the high street opticians’ profits increased by more than a quarter. The group operates nearly 3,000 optometry, audiology and ophthalmology businesses globally in at least eight countries, including more than 1,200 in the UK, through hundreds of independent partners...

The Guardian • 8/20/2026, 3:55:13 PM
power

Can Andy Burnham tame the power of the ‘Treasury brain’ to boost growth?

PM wants to reduce department’s stranglehold on public purse and bring long-term thinking to economic policy Andy Burnham is far from the first prime minister to dream of taming the power of the mighty Treasury. Boris Johnson all but forced the resignation of Sajid Javid by handpicking his team; Margaret Thatcher favoured her economic adviser Alan Walters over Nigel Lawson, prompting the latter’s furious resignation; Tony Blair and Gordon Brown’s power struggle was the stuff of Whitehall legend...

The Guardian • 8/19/2026, 6:04:00 PM
money

US treasury doubles debt buyback to steady bond market amid inflation fears

Yields, at recent highs this week, dropped after treasury’s vow to ‘provide greater liquidity support’ to bond market The US treasury is doubling its buyback of government debt in an effort to balance out the bond market and counterbalance investor concern over high inflation. The yield rate on 10-year, 20-year and 30-year treasury notes all hit 20-year highs this week, with the 30-year treasury yield rising to its highest rate since 2007. The rapid rise was concerning news for borrowers as major loans, including mortgages, are backed by treasuries...

The Guardian • 8/19/2026, 2:57:21 PM
culture

Post your questions for kd lang

As her supergroup with Neko Case and Laura Veirs celebrates the 10th anniversary of its sublime album, the Ingénue herself will answer your questions A decade ago, three of the finest voices in Americana got together to make a sublime supergroup record. Case/Lang/Veirs, in case the title didn’t make it plain, brought together Neko Case of the New Pornographers, stalwart Portland songwriter Laura Veirs and kd lang, the Grammy-winning Canadian country icon. Sadly, that glorious album has remained a one-off – though a new anniversary release includes a gorgeous never-before-heard song, Accidental Tattoo – but happily, lang is joining the Guardian for a very rare interview to answer your questions. Maybe you’d like to know secrets from behind the scenes of making this record in lang’s loft and Veirs’ dining room, or about lang’s relationship with the late, great Tony Bennett, her animal rights advocacy, what the Edmonton country-swing scene was like in the mid-80s before lang became a country star and later mainstream icon, or what she and Cindy Crawford talked about when they posed for quite possibly the greatest magazine photoshoot of all time. What was Roy Orbison like to work with, is new music on the horizon, or what her contemporary constant cravings are? Or anything else indeed...

The Guardian • 8/19/2026, 1:56:04 PM
business

UK inflation rises to 2.9% as Iran war fuels living costs squeeze

Higher energy costs push up CPI but jobs slowdown could deter Bank of England from raising interest rates UK inflation rose to 2.9% in July as the impact of the Iran war on energy prices triggered a renewed cost of living squeeze for British households. Underscoring the challenge for Andy Burnham’s government to give “breathing space” to hard-pressed consumers, the Office for National Statistics said inflation rose from 2.6% in June...

The Guardian • 8/19/2026, 6:01:13 AM
climate

UK relies on heat-stressed countries for fruit and veg it could grow itself – report

Food Foundation sounds alarm over supply risks and price shocks as about 40% of Britain’s food is imported The UK is vulnerable to food price shocks because of its dependence on imports of fruit and vegetable from countries even more exposed to the climate crisis, researchers say. Much of Britain has sweltered under a record five heatwaves this year and endured drought and wildfires, with the hot, dry conditions damaging crops and reducing yields of domestic produce...

The Guardian • 8/19/2026, 5:00:06 AM
science

ISS: Sophie Adenot and Anil Menon conduct spacewalk to replace space-to-ground antenna

Nadia Massih is pleased to welcome Daniel Neuenschwander, Director of Human and Robotic Exploration at the European Space Agency (ESA). According to Neuenschwander, this latest ISS mission demonstrates what makes the International Space Station exceptional: interdependence. European, American, Japanese, Canadian and Russian partners depend on one another to keep the station functioning, even when relations on Earth are more complicated. Replacing a 90-kilogram communications antenna is a technically demanding task in an environment where every system must function perfectly.

France 24 • 8/18/2026, 2:18:58 PM
power

Governments’ borrowing costs hit further multi-decade highs as US-Iran peace hopes fade

Bond yields in US, UK, Germany France and Japan rise after ceasefire ends and Trump threatens to bomb Oman Business live – latest updates Government borrowing costs in several advanced economies continued to rise to levels not seen in decades on Tuesday, as hopes of an end to the US-Iran war faded. Concerns about the inflation outlook worsened after the ceasefire between Washington DC and Tehran ended on Monday night without an agreement, with no progress on the reopening of the strait of Hormuz...

The Guardian • 8/18/2026, 10:54:43 AM
business

China’s economy showing signs that slowdown may be extending

Industrial output and retail sales slump in July after one of the country’s weakest quarterly growth rates ever China’s economy is showing signs of extending a slowdown with a slump in industrial output and retail sales in July, adding to pressure on Beijing to intervene with measures to support activity. After the world’s second largest economy posted one of its lowest quarterly growth readings on record in the three months to June, the latest figures suggest it continued to falter in July...

The Guardian • 8/17/2026, 3:36:25 PM
business

Leading economies’ borrowing costs hit highest since 2008 crisis

Concern over impact of Iran war pushes up government bond yields in US, UK, France, Germany and Japan Government borrowing costs in several advanced economies hit their highest level since the 2008 financial crisis, or even earlier, on Monday, as investors feared the Middle East crisis would keep inflation persistently high. Concerns over rising prices, and government spending, pushed up the cost of debt issued by Paris, Berlin, Washington DC, Tokyo and London, as investors fretted that rising prices would push up interest rates...

The Guardian • 8/17/2026, 3:13:40 PM
culture

Agrippa by Robert Harris review – persuasive portrait of rivalry in ancient Rome

This fictional memoir by Octavius’s right-hand man shows us bloodshed, betrayal and hectic jockeying for power If you’re one of those people who thinks about the Roman empire several times a week, Robert Harris has you covered. He follows his trilogy of novels about the life of Cicero and his one-off about the unpleasantness in Pompeii with a narrative that takes us from civil war through the assassination of Julius Caesar, with all the bickering and bloodshed that follows, on to the decisive battle of Actium and Octavius’s apotheosis as Caesar Augustus. We meet Cicero, Fulvia, Lepidus, two Caesars and a burly Antony (“Imagine, if you will, a statue of Hercules with a club in one hand, a wineskin in the other”). Here’s the clever bit: he narrates it all from the point of view of Octavius’s right-hand man, Agrippa, a much less well-remembered figure. Harris tells us he “left behind no speeches, few letters and only a couple of sentences of direct quotation”. Yet Agrippa was “effective co-ruler of the Roman world for many years” and “the greatest general of the period”. Octavius couldn’t have risen without him, but he seems to have done his best to write him out of the story afterwards, according him only two passing mentions in the Res Gestae Divi Augusti...

The Guardian • 8/17/2026, 6:00:46 AM
power

Turbocharge special needs internships to help tackle UK youth jobs crisis, says Milburn

Government review led by former minister to recommend huge expansion of onsite schemes for those who need support Specialist internships designed to secure work for young people with special educational needs should be put on “turbocharge” to help tackle the growing youth jobs crisis, a government review is to propose. Alan Milburn who is leading a review of young people and work, said supported internships should be scaled up to combat “devastating” joblessness rates for young people with a learning disability, autism or mental illness...

The Guardian • 8/16/2026, 4:00:30 PM
culture

Senegal: Saint-Louis’ centuries-old pirogue racing tradition

In Saint-Louis, Senegal, traditional pirogue races are keeping alive a centuries-old tradition dating back nearly 200 years. Held in the fishing district of Guet Ndar, the 3.5-kilometre race brings together dozens of rowers and huge crowds, turning the event into both a major sporting competition and a celebration of local culture. But despite the race's popularity and the money it generates, competitors are not paid and are calling for greater recognition for the sport.

France 24 • 8/16/2026, 3:51:32 PM
business

Interest rate dilemma for central banks as inflation rises but growth slows

The Federal Reserve, the ECB and the Bank of England appear unclear on how to tackle inflation amid the Iran war New UK cost of living crisis looms as rising energy bills lift inflation Inflation rates have been falling across the industrialised world, but fears that the Middle East war will raise oil prices means central banks are sitting on their hands when they should be raising interest rates to subdue inflationary pressures. The US Federal Reserve, the Bank of England and the European Central Bank are still smarting from the criticism of their inaction in 2022 when inflation soared above 10% in the UK and eurozone, and over 9% in the US...

The Guardian • 8/16/2026, 2:00:27 PM
health

Why cancer, not cost of living, may be the biggest issue in Iowa’s midterm elections

A broad group of diseases in the agricultural powerhouse is top of mind for the midterm elections In Iowa, one of the key battleground states in November’s midterm elections, just about every political candidate agrees on one thing: something must be done about the state’s rising rates of cancer. The midwestern state has the second-highest rate of cancer nationwide and, together with Utah and West Virginia, is one of only three states where incidences of the disease are rising, according to cancer rate monitoring from the National Institute on Minority Health and Health Disparities...

The Guardian • 8/16/2026, 12:00:25 PM
culture

Vile statues, writhing liquorice and kids marooned online: Edinburgh art festival review

Various venues, Edinburgh From queer narratives to secret histories, this year celebrates the underground and the unheralded. Our writer uncovers so many stories, he feels like Columbo By the time you’re done with Edinburgh art festival you’ll have uncovered so many hidden stories you’ll feel like Columbo. We’re talking queer narratives, secret histories, undiscovered archives: the whole festival is a celebration of the underground and unheralded. You can’t walk into a gallery without learning about some subcultural genius or longlost creative you’ve never heard of. That’s not a bad MO for a city-wide art festival. But EAF is also a big, unwieldy, confusing thing. There are curated displays, satellite exhibitions, performances, off-site projects, and it’s impossible to figure out how any of it fits together. You’ve just got to follow your nose and hope you sniff out something you like. And you’d better like photography, because there’s a lot of it here...

The Guardian • 8/14/2026, 1:31:48 PM
culture

The Real Kyle McCarren review – musical eulogy to lost bandmate strikes a chord

Pleasance Courtyard, Edinburgh Andy Roninson’s tribute to a friend who died aged 21 combines original rock, soul and folk songs in a considered exploration of grief They say don’t speak ill of the dead – how about singing instead? Based on real events, this new US musical is designed as a loving but warts-and-all eulogy. His friend and bandmate Kyle, who died out of the blue at the age of 21, was a rock for him, says creator Andy Roninson. “But in a Sisyphus way.” Roninson narrates and plays the keys in a concert-style show that mostly unfolds in the days just after the death. It’s that strange period where a private sense of loss collides with congregation and you see the deceased through the eyes of mutual acquaintances, which can be jarring. This is exactly Andy’s experience as he’s outraged to find another so-called “best friend” Liam (Vincent Jamal Hooper) delivering a speech at the memorial, while tiptoeing around Kyle’s formidable mother (Jaygee Macapugay) and encountering Kyle’s ex (Sarah Coffey). Each of them has a solo tribute, covering a pleasing variety of rock, soul and folk (Coffey’s plaintive ballad stands out). Sean McVerry, who wrote the music and lyrics with book-writer Roninson, is ever-present as Kyle himself, frequently ribbing Andy...

The Guardian • 8/14/2026, 10:18:49 AM
business

US long-term borrowing costs hit 25-year high, as inflation fears hit bond sale – business live

Rolling coverage of the latest and economic news, as US sells 30-year bonds at highest borrowing costs since 2001 Gennadiy Goldberg, head of US rates strategy at TD Securities, agrees that the rise in US borrowing costs is “problematic” for the Trump Treasury, adding (via the FT): “They have to fund the government at more expensive levels.” “Investors are being asked to absorb a growing supply of government debt globally at a time when deficits remain large, inflation uncertainty persists.” “If investors continue demanding greater compensation for inflation and fiscal risks, long-term yields could move higher and away from 5% even if Treasury auctions remain well covered.” 10am BST: Eurozone flash GDP report for Q2 1.30pm BST: US retail sales for July 3pm BST: University of Michigan’s US consumer confidence index..

The Guardian • 8/14/2026, 6:22:14 AM
power

Post your questions for Robert Carlyle

Bond villain, Begbie, male stripper … the Trainspotting and Full Monty star has played everyone from Sherlock Holmes to Rumpelstiltskin. As his latest directorial project premieres in Edinburgh, he is here to answer your questions You’ll know Robert Carlyle for many things – getting his kit off in The Full Monty, being skewered through the heart with a plutonium rod as Bond villain Renard in The World Is Not Enough, playing Sherlock Holmes in Watson, joining Line of Duty as a gruff specialist firearms officer, and appearing opposite David Tennant and Toby Jones in ITV’s The Hack. He also appeared as Adolf Hitler in Hitler: The Rise of Evil and (uncredited) as John Lennon in Yesterday; as a cannibalistic soldier in Ravenous; Rumplestiltskin in Once Upon a Time; and the British prime minister in Cobra. But it’s hard to ever fully dissociate him from the fantastic moustache he sports as violent, pint-swilling psychopath Francis Begbie in Trainspotting – a moustache that is now, unbelievably, 30 years old and heading back to cinemas in a new 4K restoration from 21 August...

The Guardian • 8/14/2026, 6:00:20 AM
climate

Country diary: This is how bad the heatwave has got for us arable farmers – I’m going on holiday | Colin Chappell

Brigg, Lincolnshire: I should be busy, but the boom-bust climate has upset all my usual routines By the time you read this, I will be away in the Scottish Borders – a British arable farmer on holiday in August? This is unheard of. I’ve never done it myself in 30 years of farming. The reason I’m going away is that, remarkably, I have very little to do, and it’s all down to this destructive modern climate. We have finished the harvest, all done in almost entirely the month of July. Overall our farm will be 20% down on our long-term average yield, with winter cropping 2 tonnes per hectare and spring cropping 1 tonne per hectare below normal. Winter barley will be the only crop close to normal yields due to its natural maturity at the time of the first heatwave in late May. Beans finished five weeks ahead of schedule, and are almost 50% down on expectations...

The Guardian • 8/13/2026, 4:30:48 AM
science

The immortal jellyfish and other mindblowing invertebrates – podcast

Each year the Guardian runs a competition to find the invertebrate of the year. To They each nominate an incredible invertebrate that you might never have heard of, and argue why their choice should be crowned the winner. Vote for your favourite now and the winner will be crowned on 17 August Invertebrate of the year 2026: vote for your favourite Support the Guardian: theguardian.com/sciencepod..

The Guardian • 8/13/2026, 4:00:49 AM
technology

‘Nightmare fodder’: Roku’s AI slop channel is even worse than expected

Fairground TV is a 24/7 channel devoted to low-quality AI content for viewers sick of watching real people move in ways that won’t haunt you The appeal of Roku is that, whatever you happen to want to watch, there will almost certainly be a live channel for it. Just want to watch Little House on the Prairie? There’s a channel for it. Just want to watch Duck Dynasty? There’s a channel for that too. Purely want to watch nothing but local news from Wisconsin? Guess what: there’s a channel for that too. But despite this wealth, a section of the population was still to see its needs fulfilled. What about people who hate plot and vision and the sight of people speaking convincing dialogue that synchronises perfectly with the movement of their lips? What about the people who just want to watch an unyielding torrent of eerily weightless nightmare fodder? Well, good news. Roku has finally caught up...

The Guardian • 8/12/2026, 2:15:25 PM
climate

I was enjoying growing vegetables. Then the climate crisis raised its ugly head | Bim Adewunmi

My child and I were bonding over our hit-and-miss approach to reaping crops. But with heatwaves pushing more of Britain into drought, it’s starting to feel like a luxury we can’t afford For the first time in my life, I live in a home that has real outdoor space. What a concept! There are no downsides to a garden. Back in spring, I made grand plans – I watched all the TikToks, I bought seeds and trays and pots and grow bags, I ordered soil, a trowel and a watering can. I knew what I was after: super-tiny-scale subsistence farming with a side of Zen. A little fruit, a little veg, lots of flowers to attract pollinators. And I knew I wanted my elder child to gain an understanding of how things come to be and how to cope if and when they fail. We love a tomato side salad, so that was the first thing we attempted. The seedlings flourished and then died in the first heatwave of the season. An omen, surely. The dahlias, ranunculus and freesias refused to grow, let alone bloom. My enthusiasm began to wane...

The Guardian • 8/12/2026, 10:00:26 AM
business

RBA interest rates: Reserve Bank holds cash rate at 4.35% but threatens more hikes if needed

In a widely expected decision, the Reserve Bank of Australia holds interest rate after three hikes earlier this year Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast The Reserve Bank of Australia has held the official cash rate at 4.35% but threatened to hike again if needed, as it warned falling house prices would slow income growth. The widely expected decision comes after a steep decline in property values in Sydney and Melbourne arrived in Brisbane, Perth and Adelaide following three rate hikes earlier this year...

The Guardian • 8/11/2026, 5:10:41 AM
technology

SA premier announces royal commission into AI – as it happened

This blog is now closed Get our breaking news email, free app or daily news podcast Police say the remains found in a suitcase near Goulburn are not human. Supt Linda Bradbury with NSW police said: Some good news here that we don’t have a suspicious death of a human on our hands. … We are still undertaking more forensic work to identify what they are. But we can identify that they’re not human. But we’ve confirmed by other means that they are not. The undersupply of housing combined with population growth is expected to partially offset the impact of higher interest rates and recent federal government policy changes on the housing market...

The Guardian • 8/10/2026, 7:56:39 AM