Rachel Reeves announces a £2.2bn uplift in defence spending, underpinned by promises of economic security and adjustments to foreign aid and welfare in order to tackle looming fiscal challenges.

Donald Trump has threatened nations purchasing Venezuelan oil with a 25% import tariff, fuelling global economic concerns and uncertainty in energy markets.

Economic measures from the US administration have rattled global investors, causing a rare dip in both shares and the dollar while undermining confidence in longstanding assumptions about the nation’s fiscal resilience.

Travellers are confronting prolonged travel chaos after Heathrow was abruptly closed by a serious blaze, with 1,300 flight cancellations and doubts emerging around the airport’s capacity to cope with such incidents.