Anger over ‘BP abandoning goal to cut oil output’; 2,000 jobs saved, 1,000 lost, after TGI Fridays sale – as it happened

BP CEO Murray Auchincloss has dropped a target to cut oil and gas output by 2030, reports Reuters

• UK house prices rise for third month in a row to near record high
• More than 70 retailers urge Reeves to make 20% cut to business rates

Today's data has confirmed that demand for German industrial goods has continued to weaken, says Commerzbank's senior economist Ralph Solveen

Solveen added:

This suggests that the German economy will at best stagnate in the second half of the year."