The UK tax cut and pound U-turn

US Federal Reserve chair Kevin Warsh will seek to soothe investors’ nerves at this week’s Jackson Hole symposium, Andy Burnham is headed to Ukraine for his first overseas trip as Britain’s prime minister, and Saudi Arabia held talks with London brokers for a state-backed war insu ...  Show more

Investors have warned that Treasury secretary Scott Bessent’s attempts to slash long-term US borrowing costs are doomed to fail, and European oil refinery capacity is set to shrink by a fifth over the next decade. Plus, Shanghai’s answer to the Nasdaq index is benefiting from an ...  Show more

The government has U-turned on plans to scrap the 45p rate of income tax for higher earners, a day after the prime minister committed to them.Chris and Adam are in Birmingham for the Conservative party conference, where Kwasi Kwarteng defended economic plans but admitted there ha ...  Show more

The Prime Minister has announced another U-turn in her government's tax-cut plan, in an effort to reassure financial markets. Liz Truss says she will reverse her plan to scrap an increase in corporation tax and admits the government's mini-budget had gone "faster and further" ...

We start with that huge bailout package for struggling families announced by the chancellor and the controversial taxes he raised to fund it - a £5bn windfall tax on energy companies with more to come.

The FT’s economics correspondent Delphine Strauss ...

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) China’s central bank lowered the interest rate charged on its one-year policy loans by the most on record, kicking off a sweeping program to revive confidence in the world’s second-large ...  Show more