Economy

Billionaire Zara founder Amancio Ortega to receive €3.23bn dividend

Payment for Inditex founder, the world’s 15 richest person, tops last year’s dividend of €3.1bn

The Guardian view on Adam Smith: he deserves rescuing from the free-market myth

On the 250th anniversary of The Wealth of Nations, the Scottish philosopher is still invoked by the right. Yet he worried about inequality, monopoly and the power of wealth

IEA orders largest ever release of stockpiled oil to reduce crude price

Members agree unanimously to release about 400m barrels amid market volatility caused by Iran war

‘I took two bites and had to spit it out’: candy makers are phasing out real cocoa in chocolate

Due to the volatile cocoa market, companies like Hershey are using replacement ingredients such as sugar, oil, milk and nuts

How Iran has used the strait of Hormuz to throttle oil and gas

The Tehran regime has weaponised geography in retaliation for the attacks by the US and Israel

Will releasing millions of barrels of oil stockpiles really bring down fuel costs?

Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress prices