UNITED KINGDOM

Hungarian PM, who is facing an upcoming election, appears in no mood to compromise as EU leaders meet in Brussels this morningEU leaders are meeting in Brussels this morning for what was meant to be a discussion on the bloc’s competitiveness and economy, but “events, my dear boy, events” mean they will have to focus on Hungary’s ongoing spat with Ukraine and the Middle East instead.Less than four weeks before a key parliamentary election in Hungary, Viktor Orbán will once again come under pressure to unblock the EU’s €90bn loan to Ukraine, which he is blocking over a dispute about

Increased output from wind generation and batteries, and falling electricity contract prices, are expected to deliver lower energy billsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastPower prices on Australia’s east coast are predicted to fall from July because of increased output from wind generation and batteries, and falling electricity contract prices, with potential savings up to $1,320 for some small businesses.In a draft decision on Thursday, the Australia Energy Regulator (AER) proposed a price reduction for customers on standing electricity plans – known as the “default market offer” –

US president says Israel will not launch another attack on the giant gasfield shared by Iran and Qatar, but promises to destroy it if Tehran retaliatesIsrael strikes Iran’s South Pars gasfield hours after forces kill intelligence minister Fighting intensifies between Israel and Hezbollah in southern Lebanon‘Growing stagflation risk’ is unsettling markets, warns strategistIn other Asia business news today, Japan’s Nikkei was down 2.5%, while South Korean equities fell 1.5%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell more than 1.5%.“It is now hitting the plumbing of the global energy system. What is unsettling markets now is the growing stagflation

Lawmakers leave closed-door meeting after AG refuses to commit to honoring subpoena to testify under oathDemocrats on the House oversight committee walked out of a closed-door briefing from attorney general Pam Bondi about the Jeffrey Epstein files on Wednesday, leaving what California congressman Robert Garcia called “an outrageous fake hearing” after Bondi refused to commit to honoring a subpoena to testify under oath.The committee voted to subpoena Bondi earlier this month, with five Republicans joining Democrats to demand that the attorney general answer questions about the justice department’s failure to properly release files from the federal investigations into Epstein. Continue