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Boris Johnson will be found to have committed “multiple” contempts of parliament in a report by MPs into his conduct as prime minister during the partygate scandal, according to people close to the inquiry. The House of Commons privileges committee is set to publish its long-awaited report about Johnson on Thursday morning following a 14-month

Gilt yields surged to the highest since 2008, surpassing the level reached during the turmoil following Liz Truss’s mini Budget, after strong UK wage growth data on Tuesday. Wage growth accelerated in the three months to April against a backdrop of rising employment, raising the likelihood of further interest rate rises. Two-year gilt yields rose

Both Britain and America flatter themselves that their political systems are admired all over the world. The UK is the home to the “mother of parliaments”. The US is the “leader of the free world”. The two countries see themselves as mature democracies; models that other nations can emulate. But the last few years have

Rishi Sunak has finally approved Boris Johnson’s resignation honours list, which includes appointments for Tory MPs and a senior official who worked in Downing Street during the partygate scandal. The former prime minister nominated several senior Conservative MPs who are his allies. Jacob Rees-Mogg, Conor Burns, and Simon Clarke were knighted, while Priti Patel and

European markets traded cautiously at the open on Thursday as Canada’s surprise interest rate rise stoked fears the world’s central banks will push global rates higher for longer than expected. Europe’s region-wide Stoxx 600 fell 0.1 per cent, following Wall Street lower overnight, as traders were unsettled by the Bank of Canada’s decision on Wednesday

UK hopes of securing a quick deal to deepen digital trade ties with the US have run into the diplomatic sands amid growing resistance to such pacts in Washington, technology industry insiders have warned. The sector’s frustrations emerged as Prime Minister Rishi Sunak landed in Washington for a meeting with President Joe Biden at which

Mike Pence, Donald Trump’s vice-president, has filed paperwork with the Federal Election Commission to launch his candidacy for president, joining a crowded field of Republicans vying to take on Trump for the party’s nomination in 2024. Pence, 63, was loyal to Trump for four years in the White House, but broke with the president when

Apple unveiled its long-awaited “mixed reality” headset on Monday, in its most anticipated hardware product launch since Steve Jobs revealed the iPad in 2010. The gadget, called Vision Pro, will be available “early next year”. It combines virtual reality with augmented reality, which overlays digital images on top of the real world. Apple said it

China has warned western militaries to stay out of waters and airspace near its borders if they want to avoid dangerous run-ins with the People’s Liberation Army, putting on display the growing risks of unintended conflict as geopolitical competition grows. The blunt message from General Li Shangfu, China’s new defence minister, followed a near collision

How bad was your week? Well fear not. Rajesh Vishwas is here to make you feel better. The Indian government official was recently suspended after he ordered a reservoir to be drained so he could retrieve his mobile phone, which had fallen in when he tried to take a selfie while picnicking with friends. Taking

CIA director Bill Burns travelled to China last month, a clandestine visit by one of President Joe Biden’s most trusted officials that signals how concerned the White House had become about deteriorating relations between Beijing and Washington. Five people familiar with the situation said Burns, a former top diplomat who is frequently entrusted with delicate

Shares of petcare retailer Chewy surged as much as 13 per cent after it posted a surprise profit and a strong full-year outlook. The company earned $22.2mn in net income, a 20 per cent year-on-year increase and a shock to analysts, who expected a loss of $10.6mn. Its $2.78bn in sales was a 14 per

When the former US president Donald Trump was found liable of the sexual abuse of journalist E Jean Carroll last month, some observers might have hoped this would make him less appealing to American voters. Not so. If you look at a Quinnipiac poll released in late May, Trump now has the backing of 56

Moscow came under attack by several drones on Tuesday morning, Russian officials said, exposing the capital’s vulnerability to retaliation over President Vladimir Putin’s invasion of Ukraine. The barrage shortly after sunrise came as Russia launched another wave of air strikes on Kyiv, killing at least one person, hospitalising others and forcing the evacuation of a

India’s top investigative agency has filed a criminal complaint accusing Rolls-Royce and BAE Systems of engaging in corruption over historic deals to supply fighter jets to the country. The Central Bureau of Investigation alleged that the companies had between 2003 and 2012 engaged in a “criminal conspiracy” to “cheat the government of India” over deals

Joe Biden tried to make the best of the fiscal truce he negotiated with Republican House speaker Kevin McCarthy late on Saturday, designed to prevent a potentially devastating default on US debt in little more than a week. “The agreement represents a compromise, which means not everyone gets what they want,” the US president said.

London is the European stock exchange most at risk of suffering big departures to the US, according to a ranking compiled by the Financial Times identifying large companies with the strongest business case to consider a New York listing. The FT assessed 111 European companies, each with a market capitalisation of at least $10bn and

Chinese shares erased their gains for the year and metals prices fell amid mounting concerns over the outlook for the country’s economy and the possibility of an unprecedented US debt default. China’s benchmark CSI 300 index of Shanghai- and Shenzhen-listed stocks fell as much as 1.1 per cent on Wednesday, pushing the index’s year-to-date losses

The UK will escape a recession this year, the IMF said on Tuesday, adding that the country’s economy had been “buoyed by resilient demand in the context of declining energy prices”. But the fund cautioned that Britain risked being stuck with persistent inflation unless interest rates stayed high for longer. “Economic activity has slowed significantly

Meta has been hit with a €1.2bn fine by the EU and ordered to suspend transfers of user data to the US, in the largest penalty to be imposed against a Big Tech company in the bloc over privacy violations. Ireland’s Data Protection Commission, which oversees the General Data Protection Regulation, on Monday handed down