Oil price slides as US and Iran pause fire; cancer treatments help AstraZeneca beat profit forecasts – business live

Rolling coverage of the latest economic and financial news The Chinese fast fashion giant Shein reported a $99m (£74.1m) net loss in its first quarter, after the removal of an import duty exemption in the US on small packages triggered a slowdown in sales. The figures were released as part of the company’s pre-IPO paperwork, as it prepares to list on Hong Kong’s stock exchange. US officials, including UN ambassador Mike Waltz, have stressed that all military options remain on the table and that…