HSBC hit by $400m UK fraud-related charge; Rachel Reeves ‘clashed with Scott Bessent’ over Iran war criticism – business live

Rolling coverage of the latest economic and financial newsAustralia hikes interest rates to 4.35% in blow to mortgage holdersThe Financial Times have a corking story this morning – UK chancellor Rachel Reeves had a “fierce row” with US Treasury secretary Scott Bessent in Washington last month, they say.The pair of finance ministers clashed over the Iran war on the sidelines of the IMF’s Spring Meeting, after Reeves said she was “not convinced” that “we are safer today than we were a few weeks ag...