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Tech billionaire’s $158.3bn deal an outlier in report showing widening gap of CEO to worker pay at top companiesElon Musk received over 2.5m times as much compensation at Tesla as the company’s average worker, according to a new report on the growing gap between top corporate executives and their workers.Musk’s $158.3bn pay deal was an outlier but came as the gap between CEO and worker pay continued to grow. Excluding Musk, last year the average ratio of CEO to worker pay for the top S

Ethics experts and Democrats express alarm as Trump uses office to grow his personal fortune to ‘unprecedented’ level Donald Trump’s use of his second presidency to grow his personal fortune has alarmed legal and ethics experts and congressional Democrats as he has reaped an “unprecedented” $2.2bn in 2025 revenues by amassing big cryptocurrency holdings, benefiting from wealthy foreign interests, expanding his Truth Social business and more, while federal oversight of his actions has w

Weaker growth, rising energy costs and persistent inflation mean Britain could face tougher times in the autumnUK economic growth slows downBusiness live – latest updatesIn the spring the International Monetary Fund warned Britain faced the heaviest economic blow from the Iran war among the world’s most advanced nations. Almost six months into the conflict, on the surface, the UK appears to be proving the forecasters wrong.The latest official figures show the UK maintained its pole pos

Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in MayThe UK economy is estimated to be 1.2% bigger than it was a year ago.Real GDP per person is estimated to have increased by 0.4% in the second quarter, up 1.0% compared with the same quarter a year ago.I know people are worried about the impact of the conflict in the Middle East on their cost of living, which has been too high for too long and it has added pre

GDP expanded by 0.4% in three months to June, down from 0.6% in the first quarter, says ONSEconomic growth slowed in the second quarter of the year, as the disruption unleashed by the Iran war began to take its toll, official figures show.The Office for National Statistics (ONS) said GDP expanded by 0.4% in the three months to June, down from 0.6% in the first quarter, in line with City economists’ expectations. Continue reading...

Master’s student made first bar with 100% UK ingredients since 1932 to highlight affect of climate crisis on cocoa plants The late queen was the only person in history to have ever eaten a chocolate bar made with 100% British ingredients, after she was given one as a six-year-old in 1932 by the confectioner Rowntree’s.The bar was created from a glasshouse-grown cocoa plant, at Rowntree’s headquarters in York. Continue reading...

No, Amazon, I do not want to buy another version of the thing I just bought, or any other random object I don’t recognise or understandWe live, as I’m sure someone’s chief growth officer has recently boasted on an earnings call, in a golden age for data capture. Jeff Bezos knows what I buy, read and watch; Mark Zuckerberg will be aware that I recently sold a car transport box for a medium-sized dog. I’ve been ruthlessly conditioned into clicking Accept All Cookies every time I want to

Sadiq Khan criticises Westminster council’s ‘anti-growth policies’ after it recommends stopping ‘vertical drinking’Waiting at the bar and trying to catch the bartender’s eye so you can order a pint, before going to stand with your friends and have a catchup, has been how British

As lenders’ profits soar, calls grow for a levy to help new PM ease cost of living pressures on householdsIt has been a stellar week for UK banks. Fuelled by high interest rates and market turbulence rippling out from the US war on Iran, major lenders have revealed soaring half-year profits that allowed bosses to boost bonus pots and give billions of pounds to shareholders.Collectively, the UK’s four largest lenders – HSBC, NatWest, Barclays and Lloyds – reported £29.2bn in profits ove

Gianni Infantino is under increasing scrutiny following his World Cup sell-off plan. We look at each confederation’s relationship with the presidentThe pressure is growing on the Fifa president, Gianni Infantino, with many countries withdrawing their support following the bungled World Cup sell-off. However, how key is Infantino’s relationship with each confederation and is it likely that an election contest will actually happen? We look at the key considerations, confederation by conf

Repeated heatwaves, driven by climate crisis, have raised need for guidance as workers struggle to cope Mayor of London Sadiq Khan is backing calls for a maximum workplace temperature as pressure grows on the government to protect workers from the impact of repeated heatwaves across the UK.The extreme heat, driven by the climate crisis, has left people struggling to cope as temperatures in some workplaces climb above 40C, causing thousands of schools to close, and hospital and transpor

Thames Water says it has £515m cash in the bank as its debts swell to £18.5bnGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.China grew 4.3% in the quarter to 30 June, one of the slowest rates on record, as sluggish domestic demand outweighed a surge in exports.While operationally the business is improving, we are also working with our creditors, regulators and government to complete our recapitalisation.10am BST: Eurozone indu