Tuesday was the world's hottest day ever, beating the previous record set on Monday, while nearly a third of Americans, over 113 million people, are covered by some sort of official heat advice.

We find out how economies are adapting to the extreme heat, and how business are coping as people are unable to work.

Roger Hearing speaks to former European Commission President José Manuel Barroso and climate economists.

The United States could face a major supply chain disruptions and high shipping costs if a potential strike by the UPS delivery service, consisting of 340,000 workers, goes ahead. The proposed 10 day strike could be the most expensive walkout in at least a century, costing the U.S. economy upwards of $7 billion dollars.

The deal to allow Ukrainian grain to be safely exported seems to be at an end. Russia says it is halting its involvement in the agreement brokered by the United Nations last summer. Without a deal, global food supplies are likely to be severely disrupted - Russia and Ukraine are major players in the wheat, barley, maize, sunflower seed and sunflower oil markets.

We're back into earnings season, and, unsurprisingly it's the banks that are attracting most attention - they, are after all, the beneficiaries of the higher interest rates that have come with the Federal Reserve's bid to curb inflation. The first big headline profit result is from JPMorgan Chase - profits for the quarter ending June 30 were $14.5 billion, up 67 percent, while revenues were up 34 percent to $41.3 billion. Part of that was from its purchase of a majority of the failed First Republic Bank's assets in a government-backed deal in May. At Wells Fargo, meanwhile, profits also rose 57 percent to $4.9 billion. Citi however experienced a drop, blaming an anaemic investment banking market as a drag on their revenues.

South Korea has been on high alert as a storm battered the capital Seoul, while in the Philippines officials warned of a tropical cyclone.

Earlier this week India's capital New Delhi recorded its wettest July day in decades.

Sam Fenwick explores the financial impact of climate change.

Hollywood actors are going on strike. In the last few hours the representatives of the Screen Actors Guild - American Federation of Television and Radio Artists - known as SAG-AFTRA, announced its first major strike in 40 years. It follows weeks of talks about pay and the impact of artificial intelligence.

Tens of thousands of Hollywood actors are preparing to strike after last-ditch talks between their unions and streaming giants broke down just hours before a major deadline.

The Screen Actors Guild has agreed to one extension of talks with major studios but the union has been unable to agree a deal over issues around pay residuals and the use of artificial intelligence.

After a many months of discussions, Pakistan has won final approval to borrow $3 billion from the International Monetary Fund. The deal will unlock long-awaited funding from other lenders that should help ease the nation’s dire need for cash and rescue its economy.

The rate of price growth in the US dropped to its slowest pace in more than two years, helped by cheaper used cars. Inflation has fallen sharply from a peak of more than 9% last year and June's reading marks the slowest pace since March 2021. The figures suggest a succession of interest rate rises have punctured soaring prices. However, analysts still expect the US Federal Reserve to raise rates again this month.

A US court has given Microsoft the green light to buy the videogame maker Activision Blizzard in a deal worth $69bn. Microsoft said after the US win, it would focus on resolving concerns around competition in the UK. The tech giant's merger with the Call of Duty owner would be the biggest deal of its kind in gaming industry history.

NATO members meeting at a summit in Vilnius have agreed to spend more on defence.

And US Senators have aired their concerns about Saudi Arabia’s plan to transform professional golf, after the biggest merger in the sport's history between the PGA Tour and the breakaway LIV league.