The US Congress has approved Donald Trump’s significant tax and spending bill, marking a major win for the president's agenda. The House passed it by a vote of 218 to 214 after it was approved in the Senate by a narrow margin.

• The bill is projected to add $3.3 trillion to federal deficits over the next decade.
• Trump plans to sign the bill into law on July 4.
• It includes cuts to food benefits and health care, while making tax cuts permanent, but faced criticism from Democrats for its impact on low-income Americans.

In June, the US economy saw a surprising increase in hiring, with 147,000 jobs added, surpassing the expected 110,000 jobs, as reported by the Labor Department.

• The unemployment rate fell to 4.1%, down from 4.2% in May.
• George Brown, senior economist at Schroders, noted the resilience of the US labor market despite tariff challenges.
• The increase in hiring was driven by state and local government education (adding 63,500 jobs) and healthcare and social assistance (gaining 58,600 jobs).