BP to sell North Sea business; AI companies lead record surge on Korea’s stock market – business live

Live, rolling coverage as British oil company looks for buyer amid political dispute over future drilling licences Economic uncertainty dampened UK house price growth in July as prospective house buyers remained cautious about interest rates amid the ongoing US war with Iran in what should be peak housebuying season. House prices rose by just 0.1% in July from a month earlier, according to lender Nationwide, while annual price growth slowed to 1.8% this month, down from 2.2% in June. Market activity and house prices have remained soft in recent months, in part reflecting the uncertain economic backdrop. Geopolitical tensions remain high, with the conflict between Iran and the US again exerting upward pressure on energy prices and market interest rates in recent weeks. Financial market expectations for the future path of Bank Rate have been volatile, reflecting shifting views about the inflationary implications of events at home and abroad. With these results IAG has again demonstrated that its excellent fundamentals are supporting continued value creation for our shareholders, despite the impact of the crisis in the Middle East and wider geopolitical events. Continue reading...