Oil jumps after Iran attempts ‘surprise attack’; chip stocks slump further as AI sell-off continues – as it happened

Rolling coverage of the latest economic and financial newsThe UK’s competition watchdog has opened an investigation into Microsoft over concerns that its customers may have been misled about their Microsoft 365 subscription options.The Competition and Markets Authority (CMA) said its investigation would focus on changes made to Microsoft 365 plans, which provide access to Word, Excel, PowerPoint, Outlook and the AI tool Copilot.People across the UK rely on Microsoft 365, whether they’re studying, sending emails or managing household finances.At a time when household budgets are squeezed, it’s important that people are clear on the price and the subscription plans available, so they can find the right deal for them.“H1 2026 demonstrates that we are on track to deliver material financial improvement this year compared with 2025. Q2 2026 total wholesale volumes increased by 43% compared to the prior year period as our focus on smoothing production cadence materialised, with core retail volumes continuing to run ahead of supply.” Continue reading…