Spotify shares surge 15% after profitability hits record high – as it happened

The Swedish streaming company said gross margins hit a record high of 29.2% in the second quarter, after cost cuts and growth in subscriptions

The number of new homes registered to be built across the UK fell by 23% in Q2, compared with the same period last year, the National House Building Council (NHBC) said.

The figures are an indication of the stock of houses in the pipeline for construction, since they have to be registered before being built.

We know we have a mountain to climb. That is why we're already taking the first steps, starting with an overhaul of our planning system - a reform that will both help build the homes we need and speed up the infrastructure to support them.

We are committed not just to an ambitious target for overall housebuilding but the biggest wave of social and affordable housing for a generation. It's a promise that we'll bring back with meaningful housing targets.