Oil prices drop as aid arrives in Gaza; major Apple supplier faces China tax inquiry – business live

<gu-island name="KeyEventsCarousel" priority="feature" deferuntil="visible" props="{"keyEvents":[{"id":"653611bc8f088809c450b097","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Good morning, and welcome to our live coverage of business, economics and financial markets around the world. ","elementId":"6b5b4570-c413-4804-8882-bbf504c1a440"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Oil prices dropped back on Monday after diplomatic efforts over the weekend to try to prevent the conflict between Israel and Hamas from spreading, including aid convoys being allowed into Gaza. ","elementId":"4aa18c91-1793-4c4f-86b9-21db9fbbbb1b"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The price of a barrel of Brent crude oil, the North Sea benchmark, for December delivery fell as low as $91.08 on Monday morning, down by more than a dollar, or about 1%, following the…

China and Russia harden positions on Gaza as war stirs geopolitical tensions

China and Russia have hardened their positions towards the conflict in Gaza in recent days, as the war between Israel and Hamas aggravates existing geopolitical tensions and underscores the growing gulf between the cold war allies and western powers such as the US, UK and France. The Chinese foreign minister said over the weekend that Israel’s bombing campaign had gone “beyond the scope of self-defence” and that it “should stop collective punishment of the people of Gaza”. On Friday, the Russian president, Vladimir Putin, raised the possibility that an intensified…

From Kawasaki to Phoenix: tracking a day of extreme heat around the world

20 July 2023 10.30am: Kawasaki, Japan Shota Nagasaki, 30, a builder laying concrete I’ve been doing this work for 12 years – since I left high school – and it’s got hotter even over that time. This year is kind of crazy. I mean, there are years that are not so hot, but over time the temperatures are rising. I don’t live nearby the work site so I picked the truck from the company as usual and drove here; with the air conditioning on of course. But I don’t like…