The UK’s fiscal outlook has deteriorated with national debt rising to levels not seen since the 1960s, prompting the Treasury to assert that its economic policies are based on honesty, amid rising concerns and debates about future economic management.

The Federal Reserve has reduced interest rates by half a percentage point for the first time in over four years, signalling a shift to an easing policy in response to slowing job growth and inflation concerns.

Eight people were killed and 2,700 injured in Lebanon when low-tech pagers exploded, with Hizbollah blaming sabotage by Israel.

Brussels has prepared a €40bn loans package to support Ukraine, despite concerns that the G7’s collective efforts are faltering.