Financial Times

FT reports on soaring energy bills. According to the newspaper, the incoming Prime Minister will face a “spiraling cost of living crisis”.

Liz Truss could initiate Article 16 proceedings against the European Union over the Northern Ireland protocol, according to the Financial Times.

The Financial Times reports that British companies are facing a “cost of doing business crisis” as their commercial energy bills are expected to rise by more than fourfold by the end of the year.

An energy group told ministers that a rescue plan to protect households from rising bills will require more than £100 billion in funding over the next two years, the Financial Times reports.

Inflation in the UK could top 18% due to surging gas prices, reports the Financial Times.

A top Russian diplomat has dismissed the possibility of a diplomatic solution to the Ukraine war, according to the Financial Times.

FT Weekend reports that investors are worried about a stock market rally that has added more than $7trn in value to US equities since June. Traders at Goldman Sachs, Morgan Stanley, and JPMorgan Chase warn clients that the surge in shares is not backed by confidence.

Insiders told the Financial Times that if Liz Truss wins the election, she wants to review City regulators’ roles as part of a “wider war on technocrats”.

Financial Times reports that UK inflation hit double-digits in July for the first time in over 40 years as food and energy costs soar.

The main story in the Financial Times discusses record wage drops, which signal a higher cost of living for households.