Lloyds, Halifax and Bank of Scotland apologise as users report app and online banking outage – as it happened

Rolling coverage of the latest economic and financial news Donald Trump has threatened tariffs of between 10% and 12.5% on 60 trading partners including the UK, the EU and Australia over alleged forced labour failures, in the latest attempt to revive his signature trade policy. The EU immediately hit back, saying it expected the US to respect the tariff deal it entered into last July and arguing that stealth tariffs breached the spirit of that agreement. If the Middle East conflict drags on into next year it would hit global growth hard, driving some economies into recession and causing energy shortages, according to forecasts from the Organisation for Economic Co-operation and Development. In its latest Economic Outlook, the Paris-based club of industrialised countries lays out a “prolonged disruption” scenario, in which there is no agreement between the US and Iran until 2027. Ovo Energy has agreed to pay more than £10m after the energy regulator for Great Britain, Ofgem, found a lack of monitoring of vulnerable customers with prepayment meters (PPMs) could have exposed them to a “clear risk of harm”. Ofgem found that Ovo did not adequately monitor its PPM customers, inc