Serious Fraud Office investigation relates to firms allegedly submitting false invoices for work they failed to carry out

The UK’s Serious Fraud Office has arrested four people on suspicion of a home insulation scam that may have cost energy companies as much as £44m.

The SFO and the National Crime Agency said on Wednesday that the unnamed people were arrested in coordinated dawn raids across England on suspicion of conspiracy to defraud.

Exclusive: The club, owned by Hollywood stars Ryan Reynolds and Rob Mac, received the grant without a contract or final state aid assessment in place

Wrexham AFC, the football club part-owned by Hollywood stars Ryan Reynolds and Rob Mac, was given a £3.8m government grant without a contract or a finished state aid assessment in place, raising questions over whether the award was lawful.

The club has received £18m in taxpayer-funded grants – far more than any other in the UK – to help to redevelop its stadium, the Racecourse Ground (Y Cae Ras in Welsh).

There will be flight cancellations ‘soon’ if oil supplies are not restored in coming weeks, says head of IEA

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Europe has only six weeks’ supply of jet fuel left before shortages will hit because of the Iran war, according to the head of a global energy watchdog.

Fatih Birol, the head of the International Energy Agency (IEA), said there will be flight cancellations “soon” if oil supplies from the Middle East are not restored within the coming weeks.