Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout

The UK economy grew in July as the rapid expansion of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for John Healey.

Figures from the Office for National Statistics (ONS) showed a surprise 0.4% increase in gross domestic product (GDP), compared with 0.3% growth in June. City economists had forecast zero growth.

Lobby appeals to prospective PM’s reindustrialisation agenda as it pushes for Rosebank and Jackdaw approval

The UK’s North Sea oil industry has made a last-ditch attempt to curry favour with the Labour government by appealing to Andy Burnham’s reindustrialisation agenda just days before he is expected to become Britain’s next prime minister.

Industry lobbyists have written to more than 400 Labour MPs to call on the government’s new leaders to allow more oil and gas drilling in UK waters to support homegrown energy and show “a commitment to UK manufacturing, industrial capability and the skilled workforce that has powered the nation for generations”.

Energy secretary hails £100bn milestone in this parliament and says it is ‘only the start of what we want to achieve’

Ed Miliband has hailed a boost to UK jobs and growth as government data reveals that private sector companies have pledged more than £100bn in investment into the green economy so far in this parliament.

Offshore wind, solar power and the electricity grid make up the bulk of the planned investment, most of it between 2024 and 2031, which will go to all regions of the UK and comes from a mixture of UK companies and overseas sources including the EU and Japan.