Oil tumbles as Iran and US pause strikes over Strait of Hormuz
Brent 6% lower after two weeks of escalating violence had pushed crude to more than $100 a barrel
Ares Management has held talks to buy Leonard Green & Partners
A deal between the LA groups would dramatically expand the size of Ares’ private equity business
Nvidia bets $5bn on Ilya Sutskever’s AI breakthrough
Safe Superintelligence will use Vera Rubin chips to rapidly expand computing capacity for its secretive research
Donald Trump rebuilds his tariff wall
The US president is moving his signature trade policy into a new phase
Canary Wharf holds lessons for Andy Burnham
Areas that combine employment, housing, culture and leisure will outperform those designed around a single use
France and Spain brace for more extreme heat as wildfires rage
Blazes ‘far from being under control’ as another heatwave approaches, says France’s civil security agency
Jodrell Bank observatory set to lose scientific funding
Researchers hit out at budget cuts affecting world-famous radio telescope outside Manchester
The Rapture — a messy, maximalist take on the end times
Impending disaster, heatwaves, corporate cover-ups — this macabre BBC1 thriller has uncanny timing
Amazon targets Musk’s Starlink with satellite constellation for mobile services
Tech giant files to launch more than 5,000 satellites to provide global consumer service
Dior rebound helps LVMH’s fashion business return to growth
Luxury giant’s crucial fashion and leather goods division back in growth for first time in almost two years
Burnham rejects northern Labour MPs’ call to abolish council tax
Downing Street says it is not considering replacing the levy and stamp duty with a new property tax
Burnham and the problem of politics by social media
The old tightly regulated party broadcast model is dead — for better and for worse
Andrew Tate’s extradition challenge could last almost a year, lawyers say
Controversial social media influencer faces charges in UK of rape and sexual assault, along with brother Tristan
What doughnuts can tell us about the AI boom
Chips aren’t the only thing getting fried
Germany’s Merz sacks transport minister in cabinet shake-up
Chancellor’s handling of reshuffle fuels dissent within his own party
Chess: high-stakes election battle looms for global chess body
Puzzle: spot the winning move that Magnus Carlsen missed
Size matters when it comes to tariff threats
European leaders are calling for more technology supply chain independence for security reasons
US courts diverge on latest front in debt brawls
Legal warfare has broken out over whether payment of a debt obligation requires actual cash changing hands
Burnham looks to cut welfare bill by linking up schools and employers
PM draws on experience as Greater Manchester mayor in bid to get more young people into work
Bayreuth attempts to revive Rienzi, Wagner’s ‘youthful sin’
The composer’s tale of authoritarian populism becomes a shouty six-hour marathon at the Festspielhaus
Italy’s search for national football coach stumbles over Russia links
Andrea Pirlo, tipped to revive struggling team, is a global ambassador for Russian betting company
Fifa’s Infantino lashes out at World Cup critics ‘consumed by hate’
Detractors missed out on ‘joy’ of ‘best show in the world’, says president of football’s governing body
Brexit ‘reset’ could constrain UK’s freedom of movement on trade
If Brussels pursues economic defences against Beijing, London might feel pressure to follow suit
North Sea pioneer Sir Ian Wood dies aged 84
Wood turned a family engineering business into a global player during the UK’s energy boom years