Business

The number of billionaires has surged to a record-breaking 3,428, with Elon Musk retaining the title of the world’s richest person, according to Forbes. The magazine’s latest rankings, dominated by the tech sector, placed the Tesla and SpaceX boss in the top spot with a net worth of $839bn (£623bn), followed by Google co-founders Larry…

Oil prices have fallen and stock markets are set to claw back some lost ground after Donald Trump raised hopes that Iran war disruption to the global economy would soon be over. Brent crude oil, the international benchmark, tumbled below $90 a barrel at one stage early on Tuesday after climbing above $118 – a…

More than 170,000 people have now signed up to our free Money newsletter, which brings the kind of content you enjoy in the award-winning Money blog directly to your inbox every Friday. This coming Friday, we look at the pros and cons of using salary sacrifice to intentionally drop a tax band. We also explain…

What’s it really like to be a… personal trainer? Luke Worthington, who specialises in physical preparation for TV and film work, answers the Money blog’s questions. You can earn six figures… At entry level, earnings sit around £25,000-£35,000, particularly in commercial gyms. Early on, the hours can be unsociable, you’re working when other people are…

The conflict in Iran is inflicting misery on millions – driving up bills and upending energy markets. But a perverse effect of war is that some industries do well: that’s the way our global financial system works. In this case, a group of American energy companies stand to benefit. “US liquefied natural gas (LNG) exporters…

A company has admitted it supplied water that was unfit for human consumption after a parasitic outbreak in Devon. During a hearing at Exeter Magistrates’ Court, South West Water Ltd pleaded guilty to an offence under s70(1) of the Water Industry Act 1991 to supplying water unfit for human consumption. Some people were treated in…

Some water companies are instructing bailiffs as they try to recover customers’ debt more than 6,000 times in a single year, new data reveals. The information gathered by a committee of MPs has not been freely available before and reveals huge variations in water companies’ use of the tactic. Wessex Water have not been using…

For years, geopolitical analysts warned us that among the scariest of all scenarios for the world economy was the closure of the Strait of Hormuz. Well, now, in practice, that is precisely what has happened. Shipping through this narrow channel, the gateway to the Persian Gulf, has dwindled to close to zero. The worst nightmare…

With increasing improvements in technology, our homes – and the appliances that fill them – are becoming smarter and smarter. Once analogue ovens and fridges are now more interconnected, with TVs, speakers, heating, lighting and home personal assistants all connected to Wi-Fi and run by phone apps. While this offers greater personal convenience, it opens…

UK average diesel costs have hit a 16-month high, less than a week after war gripped the Middle East and sent oil costs rocketing. Global energy prices have been the main financial market focus since Tehran launched attacks against Gulf nations in retaliation for the US-Israeli strikes on its country, disrupting production and deliveries of…