Rolling coverage of the latest economic and financial newsThe UK economy grew by 0.1% in May, despite the impact of the Iran war on energy costs, official figures show.The Office for National Statistics said GDP rose, following a 0.1% decline in April. The figures were in line with a 0.1% rise in May that economists had forecast.British Steel is part of the fabric of our nation and a cornerstone of Britain’s industrial strength.Today’s decision secures the future of steelmaking in the UK, protects skilled jobs and safeguards a vital national capability.British Steel now belongs to the British people, and our focus is on the future: stabilising the business, backing the communities that rely on it and building a sustainable, competitive and decarbonised steel sector for the years ahead.This is a momentous day for British Steel, and everyone connected with our business – our dedicated employees, our valued customers and suppliers, and the tens of thousands of people in our supply chains and local communities. Much more than that, it is an historic day for Britain and UK manufacturing – one which safeguards our future and strengthens national security and infrastructure.We are grateful to the UK Government for the decisive action it has taken, and the support it has given our business – and our people – during such a challenging period. Together, we look to the future with great optimism and will work together to make the world-class steel Britain needs now and for decades to come.”7am BST: ONS GDP figures for May7am BST: Crest Nicholson reports half-year results, postponed from April. Ocado interim results12.30pm BST: US initial joblessg claimsUK Parliament summer recess begins Continue reading...