UK private sector shrinking as firms cut jobs; pressure to raise taxes as government borrowing jumps – as it happened

Britain’s private sector is shrinking for the second month running as factory output falls at the fastest rate in a year and a half, a new survey shows.The latest poll of purchasing managers at UK companies found that private sector output is decreasing in May, although at a slower rate than in April.Manufacturing production fell at the fastest rate since October 2023, although this was moderated by a “fractional rise” in service sector output.UK firms reported that clients were cautious this month, due to business uncertainty, leading to a drop in new orders. However, worries about US tariffs have dropped this month, after Donald Trump delayed tariffs on America’s trading partners and agreed a trade deal with the UK

UK petrol prices poised to fall further as oil prices tumble

Global oil prices have tumbled by more than $1 a barrel in a sign that pressure on households at the petrol pumps could ease further.The price of Brent crude fell to $63.86 a barrel on Thursday following reports that the Opec oil cartel and its allies may increase their production for July, despite weaker global demand for fossil fuels.The price of crude is now well below the $80.53 a barrel average recorded last year, a fall that has helped to put pump prices at their lowest level in almost four years

iPhone design guru and OpenAI chief promise an AI device revolution

Everything over the last 30 years, according to Sir Jony Ive, has led to this moment: a partnership between the iPhone designer and the developer of ChatGPT.Ive has sold his hardware startup, io, to OpenAI and will take on creative and design leadership across the merged businesses. “I have a growing sense that everything I have learned over the last 30 years has led me to this place, to this moment,” he says in a video announcing the $6.4bn (£4.8bn) deal

OpenAI buys iPhone architect’s startup for $6.4bn

OpenAI is buying an untested startup for $6.4bn, the ChatGPT maker’s biggest acquisition yet. The hardware startup, called io, was founded by Apple design guru Jony Ive, known best as one of the principal architects of the iPhone. Ive and OpenAI’s CEO, Sam Altman, said in a blog post that their partnership has been two years in the making.“A collaboration built upon friendship, curiosity and shared values quickly grew in ambition,” they wrote in the blog post, which offered scant details on upcoming devices

How bad was Spurs v United in comparison to other European club finals?

The attacking talents on show for both Italian sides were frightening. Juventus partnered David Trezeguet in attack with Alessandro Del Piero, while Milan opted for Pippo Inzaghi and Andriy Shevchenko in front of the creativity of Andrea Pirlo, Clarence Seedorf and Rui Costa. Such was the embarrassment of riches available to manager Carlo Ancelotti, Rivaldo was an unused sub. Yet after 120 minutes, the final remained goalless. Marcello Lippi, who had succeeded Ancelotti as Juve manager in 2001, was particularly culpable, having brought on the defensively minded Antonio Conte as a makeshift No 10 at half-time

Sezer stars as Hull get back to form with emphatic Super League win at Leigh

John Cartwright has already enjoyed some wonderful moments as Hull FC coach and transformed the club’s fortunes in just three months in charge, but this win at Leigh could well turn out to be his finest victory yet.There is no escaping the fact that after a wonderful start to 2025, Hull have endured a difficult few weeks. Injuries and a loss of form have resulted in them exiting the Challenge Cup at the hands of their biggest rivals and tumbling outside the playoff places as the midway point of the season approaches.But this was an emphatic return to form at a ground where away victories are hard to come by. The Leigh coach, Adrian Lam, had joked this week that their opponents here were a carbon copy of how his side play – perhaps in no small part due to the fact that four of the FC side were Leigh players as recently as last season