Larry Fink, chief executive of asset manager BlackRock, warned that oil at around $150 a barrel would likely push the global economy into a deep downturn.He told the BBC that if tensions with Iran persist and energy prices remain elevated, the fallout would be severe for growth and living standards.Fink, who runs a firm with about $14 trillion under management, outlined two broad paths for the...

Chancellor Rachel Reeves will tell MPs how the UK plans to respond if the war in the Middle East pushes energy bills higher.Her Commons statement will cover three main areas: a short assessment of the economic fallout, measures to bolster energy security, and the principles that would guide any future household support.On energy security, Reeves will recommit the government to building more...