Greggs adds 5p to cost of sausage rolls despite plan not to raise prices

Bakery chain says price of meal deals will stay the same but increased costs have put it under pressure

Greggs has increased the amount it charges for some of its items, including an extra 5p on sausage rolls and their vegan equivalent, despite the bakery chain having said earlier this year it had no plans to increase prices.

Roisin Currie, chief executive of the Newcastle-based group, said it had increased prices on a small number of products, including cheese sandwiches, in recent weeks as it continued to come under pressure from a growing wage bill.

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Rex has entered voluntary administration. What happens next to the embattled regional airline?

Virgin Australia has offered to rebook Rex passengers due to travel on now-grounded capital city flights on an equivalent Virgin service free of charge

There is uncertainty about the future of Rex – Australia’s third-largest airline – after it entered voluntary administration and grounded all of its flights between capital cities.

The Albanese government held crisis talks with Rex on Tuesday and appeared willing to step in to save parts of the airline’s operations.

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Standard Chartered plays down fears of US-China trade war under Trump

Chief executive says tensions ‘not impacting’ business as bank reports pre-tax profits of $1.6bn for second quarter

Fears of a China trade war erupting under a second Trump presidential term are overblown, according to bosses at Standard Chartered bank, as they suggested that the country’s real estate woes were “largely in the rearview mirror”.

While the London-headquartered bank makes most of its money in Asia, particularly in Hong Kong and Singapore, its chief executive, Bill Winters, played down the impact that increasingly strained relations between Washington and Beijing might have on the business.

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Rex airlines enters voluntary administration with all flights between capital cities grounded

Federal government says Rex ‘will have a future’ with minister suggesting Labor will step in to save troubled company

All Rex flights between capital cities have been grounded and the airline has entered voluntary administration just hours after the Albanese government suggested it would intervene to ensure the nation’s third-largest carrier didn’t collapse.

Late on Tuesday, EY – formerly known as Ernst & Young – announced it had been appointed as administrators of the company, and that the airline’s Boeing 737 operations between capital cities such as Sydney, Melbourne and Brisbane had been grounded, with Virgin Australia stepping in to offer impacted passengers rebooking “free of charge”.

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France’s GDP gets €1bn lift from giant cruise ship as German economy shrinks

Analyst says eurozone could have turned a corner as it avoids recession with 0.3% growth

The delivery of the world’s second-largest cruise ship lifted France’s economy in the second quarter, according to official data that also showed Germany heading into a recession.

Built in Saint-Nazaire for the cruise ship operator Royal Caribbean, the Utopia of the Seas added €1bn (£840m) to French economic output, helping to increase trade growth to 0.6% in the three months to the end of June and gross domestic product to 0.3%.

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Chinese firms win record 11% EV share in Europe as buyers rush to beat tariffs

State-owned SAIC, parent of the British brand MG, was responsible for biggest jump in sales in June

Chinese carmakers secured a record 11% of the European electric vehicle market in June, as buyers raced to beat EU tariffs on imported EVs that came into force this month.

The figures, which include the UK, show that about 23,000 battery electric vehicles were registered in June, up 72% on the previous month as consumers raced to beat the price hike in the EU.

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Labor ignored Bonza’s plea for help, as questions linger over what transport officials knew and when

Exclusive: Documents reveal what transport minister Catherine King was advised to say in public as budget Australian airline headed for collapse

The Albanese government turned down a plea from budget airline Bonza for financial assistance 10 days before it entered voluntary administration and ultimately collapsed, and new documents have questioned what transport department officials knew and when.

Documents obtained by Guardian Australia through freedom of information laws reveal the transport department prepared a brief on Bonza’s financial assistance request for the transport minister, Catherine King, on 20 April. Ten days later the airline’s planes were repossessed and thousands of passengers stranded across the country.

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Rex forced into trading halt amid questions about the airline’s future

The carrier promises to respond to reports that it has called in turnaround experts as Anthony Albanese says the airline is ‘important’

Turbulence at Rex Airlines appears to be deepening after the carrier requested a trading halt following speculation it would appoint consultants to turnaround its financial woes.

On Monday, the ASX announced it had suspended trade in the airline’s shares after it had requested the move pending an announcement related to a news article published on Saturday, understood to be a report in the Australian that the airline had appointed turnaround experts from Deloitte.

Rex’s request suggested an imminent related announcement, with the halt in place until the commencement of trade on Wednesday.

The prime minister, Anthony Albanese, said an airline running into trouble was a weekly occurrence in the tough, global industry.

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Rachel Reeves paves way for cuts and tax rises to fill shortfall left by Tories

Chancellor will announce pause in work on a number of infrastructure projects, saying Conservatives ‘covered up’ true state of finances

Rachel Reeves will lay the ground for cuts to public spending, tax rises and delays to some major infrastructure projects on Monday as she sets out the toxic inheritance the Labour government inherited from the Tories.

She is expected to pause work on a string of infrastructure projects, including Boris Johnson’s flagship plan to build 40 new hospitals and the proposed two-mile road tunnel bypassing Stonehenge.

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Wealth taxes could raise £10bn to help plug Tory budget hole, say economists

Reforms to inheritance and capital gains taxes could reduce £20bn shortfall and combat UK’s widening wealth gap

Rachel Reeves could quickly find around £10bn a year to plug half of the fiscal hole left by the Conservatives if she were to raise taxes on soaring levels of unearned wealth, according to leading economists.

New research by the independent Resolution Foundation published today finds that Britain is a country of “booming wealth” but “busted wealth taxes”, leaving ample potential for the chancellor of the exchequer to raise desperately needed funds by raising taxes on the richest.

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Top pilots’ union sounds alarm as regulators consider smaller crew sizes

Firms accused of putting profits over safety as EU group weighs cutting minimum number of pilots from two to one

Aerospace giants have been accused of putting profits ahead of safety as officials consider cutting the minimum number of pilots required on commercial flight decks from two to one.

The move, which is currently being evaluated by the European Union Aviation Safety Agency (EASA), would weaken standards to the “lowest common denominator”, the world’s largest union of airline pilots has warned.

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Further Eurostar cancellations hold up Paris 2024 passengers

The rail operator has pulled four of 15 trains from its Saturday schedule, affecting more than 3,000 people

Eurostar passengers hoping to catch the start of the Paris Olympics have continued to face difficulties after an arson attack in France caused train cancellations.

People travelling by Eurostar from London to Paris on Friday were asked to postpone trips if possible after the rail operator cancelled one in four trains over the weekend as a result of arson attacks that lead to widespread disruption to France’s high-speed rail network hours before the start of the Olympics.

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London Eurostar passengers asked to postpone journeys after arson attack

High-speed rail services have been disrupted, hours before Olympics opening ceremony, by ‘acts of malice’

Eurostar passengers travelling from London to Paris on Friday were asked to postpone trips if possible, with trains delayed and cancelled after arson attacks took place on high-speed rail lines hours before the start of the Olympics.

Most services were leaving St Pancras International station on time but journeys were expected to be prolonged by at least an hour in France. Two afternoon departures have been cancelled.

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NatWest takes £24m hit from abandoned ‘Tell Sid’-style campaign

Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rollout

NatWest was forced to spend £24m on the former Conservative government’s aborted “Tell Sid”-style campaign featuring Sir Trevor McDonald, which would have resulted in a chunk of the bank’s state-owned shares being sold to the general public in a highly anticipated privatisation drive.

The price tag emerged when the bank released its second-quarter results and announced it was snapping up a number of mortgages from the smaller rival Metro Bank for £2.4bn.

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Macron woos top foreign business chiefs after political chaos

French president seeks to reassure guests, including Elon Musk, as data show industry morale slumped in July

Barely six weeks after he dissolved parliament and plunged France into political chaos, Emmanuel Macron has sought to reassure 40 of the world’s most influential businessmen that his country remains a good investment.

Guests at a sit-down lunch at the Élysée palace on Thursday included Tesla’s Elon Musk, Coca-Cola’s James Quincey, Airbnb’s Brian Chesky, YouTube’s Neal Mohan and Eli Lilly’s David Ricks.

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Former Lib Dem leader Vince Cable testifies at inquiry into Post Office Horizon scandal – business live

Cable was business secretary from 2010-15 when the government privatised the Post Office

Cable has agreed with a description of Post Office management as “thugs in suits”, and had a goal of rebalancing the relationship between bosses and subpostmasters during his time in post.

He recounted a story about challenging 8 Post Office closures in his constituency, before he entered government, and being treated poorly by the organisation’s “middle management”.

Mr Bates has, I believe, described them as ‘thugs in suits’ and I recognise the description,” said Cable in his witness statement. “And [the Post Office] dealt with us in an arrogant way when we campaigned against closures.


In my first meeting with Paula Vennells [Post Office chief executive] I suggested this is what the Post Office should do,” he said. “We perhaps should have been more modest and had postmasters on the board, which would have achieved some of our aims, which I think has now happened.

Problems with Horizon barely came across my desk,” he said. “When they did it was usually in a very uncontroversial way and not drawn to my attention as an issue I should focus on. General reason is that the officials who were briefing me and ministers on the subject hadn’t seen it as a particular problem.

In hindsight, I should have been told at the outset what Horizon was,” he said. “That competent people … were suggesting there was a risk factor and I should have been told about Mr Bates and the justice group. I never heard his name until I’d been in the job five years. I wasn’t briefed on them.

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Brazilian rancher ordered to pay $50m for damage to Amazon

Brazil court freezes assets of Dirceu Kruger to pay climate compensation for illegal deforestation

A Brazilian cattle rancher has been ordered to pay more than $50m (£39m) for destroying part of the Amazon rainforest and ordered to restore the precious carbon sink.

Last week, a federal court in Brazil froze the assets of Dirceu Kruger to pay compensation for the damage he had caused to the climate through illegal deforestation. The case was brought by Brazil’s attorney general’s office, representing the Brazilian institute of environment and renewable natural resources (Ibama). It is the largest civil case brought for climate crimes in Brazil to date and the start of a legal push to repair and deter damage to the rainforest.

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Revolut finally receives UK banking licence after three-year wait

Move paves way for fintech firm to hold customers’ deposits and offer own-branded loans, including mortgages

Revolut has secured a UK banking licence – with “restrictions” – more than three years after Britain’s most valuable fintech firm lodged its application with regulators.

It is a milestone for the company, though it may still be some time before it can hold its customers’ deposits.

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Australia’s health star rating system exploited by companies making ultra-processed foods, experts say

Labelling focused on nutrients such as protein or fat distracts from ‘poor quality’ or ‘chemically transformed’ products, according to experts

The food industry in Australia is allowed to use labelling and marketing tactics to distract from the harmful ingredients in ultra-processed foods due its outsize political power, health experts say.

As state, territory and federal health and food ministers meet on Thursday, experts are concerned the current voluntary food labelling regimes are failing to meet international standards for warning consumers against industrial techniques used in food processing.

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Government should have intervened at time of Post Office lawsuit, ex-minister says

Margot James says she should have ‘delved more closely’ as Post Office developed legal defence of Horizon system

A former postal minister has said it was a mistake for the government not to step in as Post Office executives developed their ultimately unsuccessful legal defence of the flawed Horizon IT system against a lawsuit brought by branch owner-operators.

Margot James, who held the role from mid-2016 to early 2018 when Sir Alan Bates and 554 other prosecuted post office operators brought the case to clear their names, told the public inquiry into the IT system she should not have stuck to the line adopted by the executives and UK Government Investments, the body that manages state-owned assets.

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