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Oil price posts biggest spike on record after Saudi facility attack — live updates

5 things to start your day

1) Thomas Cook has secured an extra week to hammer out a £1.1bn rescue deal, as debt speculators pile pressure on the troubled holiday company. A meeting had been scheduled for Wednesday to agree terms but has been moved to next week as Thomas Cook battles to survive.

2) No-deal Brexit planners fear panic buying could cause shortages of toilet roll and disposable nappies despite reassurances from supermarket bosses, Whitehall insiders have told The Telegraph. Short supplies of such essentials are viewed as a genuine prospect if consumers take fright at lack of other goods, they said. 

3)  Business investment will fall this year and again next year, dragging down economic growth and harming future productivity, the British Chambers of Commerce has warned. Companies are slamming the brakes on new projects illustrating “the impact of the political turmoil and lingering unwanted prospect of no-deal exit”, the business group said.

4) O2, the mobile phone giant, is set to begin testing "smart ambulances" equipped with next generation 5G technologylater this month in a deal with Samsung and the NHS. Britain's biggest mobile network operator by number of users will pilot the technology on six ambulances from the East of England Ambulance Trust.

5)  The economist who predicted the US housing bubble that triggered the financial crisis has warned that cracks are emerging in the property market again. In an interview with The Telegraph Robert Shiller, the Nobel prize-winning economist, said a recent slowdown in price increases worryingly echoes trends in the American housing market before the bubble burst.

Coming up today

Royal Bank of Canada analysts struck an upbeat tone on Spire Healthcare ahead of its first-half results today. After analysing NHS data, they wrote that “a positive surprise in H1 2019” was anticipated from the private hospital operator, adding “we would buy into the results”. 

Interim results: City of London Investment Group, Horizon Discovery Group, Spire Healthcare Group 

Full-year results: MJ Gleeson 

Trading statement: Avon Rubber 

Economics: Rightmove house prices (UK), Empire manufacturing (US) 

Football news:

Ex-city defender Onuoha: I never felt safe in the US. If the police don't like it, you can lose your life
Barcelona wants to bring back 19-year-old Manchester City defender Garcia. The English are not going to let him go
Gianni Infantino: We must all say no to racism and violence. In any form
Barcelona for 4.5 million euros will buy 70% of the rights to 19-year-old forward Sao Paulo Maya
Martin Ødegaard: Sociedad wants to get into the Champions League is a dream. It's hard to fight Real Madrid and Barca, but we can fight the rest
Newcastle midfielder Longstaff is close to a move to Udinese. His salary will increase by more than 30 times
Milan defender Duarte was injured. This is the second injury at the club after resuming training