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power

‘Inept, incompetent, craven’: Scott Bessent struggles to clean up the president’s mess

There’s little optimism about treasury secretary’s ability to handle Trump’s tariffs, Iran sanctions and colossal US debt History remembers Gen Dwight Eisenhower, the supreme commander of the allied forces in Europe during the second world war, for his role in the D-day invasion of Normandy. Whether Scott Bessent will achieve similar posterity as the face of the “economic D-day” in Iran remains to be seen. The US treasury secretary, already trying to manage a $40tn national debt pile, this week took charge of Donald Trump’s effort to reverse-engineer his war of choice. Whereas the US would typically take on an adversary with diplomacy, sanctions and military force, in that order, the US president started with a six-month bombing campaign and now hopes that economic isolation can finish the job...

The Guardian • 8/29/2026, 12:00:27 PM
business

‘I’ve £80k in the account, here’s my pin’: turning the tables on the scammers

Plagued by bank impersonation scams, one Guardian Money reader got even by stringing the fraudsters along … for hours “A couple of Sundays ago at just past 11am my mobile rang. An automated message purported to be from Barclays Bank, querying a payment to Argos for more than £1,000. Not only had I not made a payment to Argos recently, nor do I bank with Barclays. I am plagued with these kinds of calls. Usually, when possible, I make it clear to the scammers that I know their game. Usually, that call ends there and then...

The Guardian • 8/29/2026, 12:00:27 PM
business

‘If it’s made in the US, I don’t buy it’: Canadians on boycotting Trump’s America

Avoiding US goods and services – from tech to whisky to air travel – has forced many to find a new way of living For William McDonald, 38, a diesel mechanic from Thunder Bay, Ontario, “Canadian is always the first choice,” even if it means his weekly bills are higher. “As soon as Trump started putting those tariffs on in February [last year], I started boycotting US goods,” he said. “Avoiding American products has driven my costs up, and I’m still happy to do it...

The Guardian • 8/29/2026, 11:00:26 AM
business

Iceland votes on whether to resume EU membership negotiations

Icelanders go to the polls on Saturday in a referendum on whether to resume membership negotiations with the European Union, in a tight race that will be closely watched in Brussels. The country of just under 400,000 people applied to join the EU in the wake of a 2009 financial crisis that devastated its economy. The membership talks were suspended in 2013 when a eurosceptic government came to power.

France 24 • 8/29/2026, 8:57:53 AM
business

Households could save up to £173 a year by switching to fixed energy deal

Moving tariffs will cushion the blow from the October price cap rise and the increase widely predicted for January With higher energy bills looming and warnings of worse to come in the new year, many households could save up to £173 a year by switching to a fixed deal. Millions of households in Great Britain will face the highest energy charges in three years after it was announced that the government’s price cap will rise again in October. This will be the second increase in three months...

The Guardian • 8/29/2026, 6:00:21 AM
business

Sovereignty, farming and fishing: Iceland votes on its future with the EU

Country holds a knife-edge referendum that cuts across political divides on taking step closer to Brussels after Trump threats towards Greenland For a long time, the prospect of becoming the third generation to run his family farm was an exciting one, says Davíð Clausen Pétursson. Icelandic farmers were starting to get higher prices for their meat and milk, debt was no longer an occupational prerequisite and innovation was on the rise...

The Guardian • 8/29/2026, 6:00:18 AM
money

‘Winter panic’: EU gas stores at their lowest level in 13 years

As one of Europe’s biggest consumers of gas the UK may be particularly exposed to heightened price volatility Europe is on course to enter the cooler months with gas stores at their lowest level in 13 years, which has triggered “winter panic” among energy traders, experts have warned. The EU’s gas stocks were 63% full in the last week of August, well below the 80% average for late August over recent years and among the lowest levels ever recorded for this time of year...

The Guardian • 8/29/2026, 5:00:19 AM
world

Hong Kong’s long-term wealth hub status safe from mainland investment curbs: JPMorgan exec

Beijing’s recent curbs on cross-border investment and a tax shift targeting overseas insurance gains may create short-term uncertainty, but they will not undermine Hong Kong’s long-term competitiveness as a major wealth management hub, according to a senior executive at JPMorgan Chase. Kwang Kam-shing, Hong Kong CEO and chairwoman of North Asia at the biggest bank by assets in the United States, said she remained optimistic about the long-term outlook for Asia’s financial sector, citing...

South China Morning Post • 8/29/2026, 2:00:20 AM
power

Trump announces new US oil agreement with Venezuela

US president says US will have ‘majority’ control of 65bn barrels of proven oil reserves Donald Trump announced Friday a new US oil agreement with Venezuela’s interim president Delcy Rodríguez, saying the US will have “majority” control of 65bn barrels of proven oil reserves. The terms of the agreement remain to be seen, but the US president said on his social-media platform that it had been brokered “through a partnership with ⁠private business” by his secretary of state, Marco Rubio, and defense secretary, Pete Hegseth...

The Guardian • 8/28/2026, 11:34:36 PM
business

Large fire near Wembley Stadium disrupts tube and rail services

About 125 firefighters tackle blaze at Neasden waste facility as nearby Amazon warehouse is evacuated A large fire broke out at a waste facility close to Wembley Stadium in north-west London, disrupting tube and train lines in the area. Twenty fire engines and about 125 firefighters were sent to tackle the blaze at a mixed-waste facility on an industrial estate in Neasden, less than a mile from the venue...

The Guardian • 8/28/2026, 9:47:05 PM
business

Fed chair says delivering ‘stable prices’ is central bank’s job as inflation persists

However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it was “the Fed’s job to deliver stable prices”. Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran. But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump, who has aggressively called for rates to be cut...

The Guardian • 8/28/2026, 3:48:57 PM
business

Warsh signals US Fed may need to raise rates if above-target inflation lingers

The US central bank will “have work to do” if policymakers are not confident that underlying inflation is returning to its 2 per cent target, Federal Reserve Chairman Kevin Warsh said on Friday in remarks that acknowledged financial conditions do not appear restrictive and marked the closest he has come to acknowledging interest rate hikes may be needed to ease price pressures. “Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at...

South China Morning Post • 8/28/2026, 3:13:26 PM
business

China moves to stabilise property sector with ‘stronger-than-expected’ policy package

Beijing has unveiled a package of measures to shift home sales in China’s vast property market away from a presales model, in a stronger-than-expected push to stabilise a property downturn that has weighed on consumer demand for years. A notice released on Friday laid out reforms to China’s home sales system, telling local governments to prioritise completed-home sales. It was jointly issued by the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources and the...

South China Morning Post • 8/28/2026, 1:42:24 PM
business

Asda returns to growth after more than two years

Chair Allan Leighton says lower prices and an improved online service are attracting more shoppers Asda has heralded its first quarterly growth in more than two years as the supermarket’s boss said it was attracting more shoppers with lower prices and an improved online service. Allan Leighton, the executive chair of the UK’s third-largest grocer, said a 0.2% rise in sales at established stores, excluding fuel, in the three months to the end of June was “a huge milestone” which was “psychologically important for the business”. In the previous quarter sales had fallen 2.3%...

The Guardian • 8/28/2026, 1:00:02 PM
business

UK petrol prices hit highest level in almost four years as bank holiday getaway looms

Average cost of petrol reaches 161.6p a litre, while diesel costs average of 183.4p, according to the AA UK petrol prices have hit their highest level since 2022, piling more financial pressure on motorists before the bank holiday weekend. The average cost of petrol has reached 161.6p a litre, while diesel costs an average of 183.4p a litre, according to the breakdown company the AA...

The Guardian • 8/28/2026, 11:56:52 AM
business

The chefs turning down the heat by switching from gas to electric

As well as being quieter, cheaper to run and easier to clean, induction cookers can cut kitchen temperatures by up to 10C Leaping flames, searing heat, copious sweat and scorchingly inventive swearing – restaurant kitchens are never a place for the faint-hearted, but this summer they have been sweltering in successive heatwaves to a dangerous degree. Some restaurants, cafes and bakeries in the UK grew so hot that they were forced to close, or reduce their hours, for the safety of their staff. There is still no maximum working temperature, despite calls from the TUC, and tens of thousands of kitchen staff are thought to have carried on working in “furnace-like” conditions...

The Guardian • 8/28/2026, 11:00:56 AM
business

Detroit despairs as ‘insanity’ of Trump’s Canada trade war punishes city

Unpopular new policy comes as midterms loom and control of Congress could be decided by several Michigan races Every day $1bn worth of goods crosses the river dividing Detroit, Michigan, and Windsor, Ontario, two largely blue-collar US and Canadian cities that have come to act as one in the creation of North America’s auto industry. News this week of Donald Trump’s escalating trade spat with Canada has everyone worried. Political and economic leaders and observers labeled the move an act of “hubris”, blamed Trump’s “ego”, and called the escalation “insanity”...

The Guardian • 8/28/2026, 11:00:56 AM
business

Jumping beans: UK shoppers turn to legumes to save cash and improve diet

Sales of beans, lentils and soya bean derivatives on rise while Britons buy less real and fake meat British shoppers are munching more beans, lentils, tofu and tempeh – while cutting back on both real and plant-based fake meat – to save money and improve their diet. The amount of beans, pulses and soya bean derivatives sold in the UK increased by 7.3% in the first half of 2026 compared with the same period last year, led by a surge in cheap dried lentils, an analysis has found...

The Guardian • 8/28/2026, 10:05:46 AM
power

John Healey to duck meeting UK defence spending target in budget

Chancellor pledges ‘fiscal discipline’ as plan to spend 3% of GDP on defence by 2030 deferred until 2027 review The new chancellor, John Healey, will delay setting out when the UK will meet the target of spending 3% of GDP on defence until next year’s spending review, the Treasury has confirmed. Healey resigned as the defence secretary in June under Keir Starmer’s leadership, accusing the then prime minister of being “unable” and the Treasury “unwilling” to “commit the resources that the nation needs to defend the country”...

The Guardian • 8/28/2026, 10:00:22 AM
power

Xi-Trump summit plans, Nepal disaster, SCO summit

Chinese President Xi Jinping may take a business delegation to Washington next month, when he is also likely to sign a trade-war truce extension with US President Donald Trump. The potential business delegation is under negotiation ahead of the September 24 summit, the South China Morning Post reported, citing four people with knowledge of the matter. US executives, including Apple’s Tim Cook and Tesla’s Elon Musk, accompanied Trump on his state visit to China in May. Both countries want to...

South China Morning Post • 8/28/2026, 9:00:14 AM
climate

How Britain’s railways are struggling in the heat – and can they be fixed?

Problems including derailments have hit network during one of the hottest and driest summers on record Britain’s railways have faced a string of heat-related problems this summer, including a derailment near Lewes in East Sussex two weeks ago that injured 30 people, and another the next day when the rear carriages of a Greater Anglia train derailed “in an upright position” at Wickford railway station in Essex, with no reported injuries. The problems came during one of the hottest and driest summers on record, with a series of heatwaves, and drought declared across large parts of England and Wales. Britain’s railways, built for a cooler, wetter climate, have been put under pressure. Network Rail said the summer had “presented exceptional challenges to the railway”...

The Guardian • 8/28/2026, 7:00:51 AM
business

US Federal Reserve’s Kevin Warsh gears up for key Jackson Hole conference as inflation fears mount – business live

Rolling coverage of the latest events in global financial markets, the economy and major corporate moves Good morning, and welcome to our rolling coverage of the global economy, the financial markets, business and the global economy. All eyes are on a mountain valley in Wyoming today, as central bankers and economists gather close to Yellowstone national park for a top-level symposium. It will be Kevin Warsh’s first as Fed Chair, at a time when inflation remains stubbornly above target and long-term yields have been under pressure. Kevin Warsh is trying to change the way the Fed functions and communicates its policy to the market (or whether it communicates at all!). Investors are questioning, since Treasury announced last week that it would increase its longer-term bond buybacks to tame borrowing costs, how the Fed will respond to the Treasury’s intervention in the bond market, which – if successful – could interfere with the Fed’s policy path and the transmission of its policy to the economy. 10am: Eurozone inflation report for August 1.30pm: Canadian GDP for the second quarter 3pm UK (10am EDT: Fed chairman Kevin Warsh delivers the keynote address at Jackson Hole Economic Policy Symposium in the US 3pm: University of Michigan consumer sentiment index..

The Guardian • 8/28/2026, 6:31:28 AM
business

From maligned second city to Insta magnet: Marseille isFrance’s new capital of overtourism

This summer has been a tipping point. But it’s not too late to save what makes this place unique When I first started visiting Marseille more than 20 years ago, few could have predicted that France’s then beleaguered second city would become one of the most popular destinations in the most-visited country in the world. Tarnished by stereotypes and home to some of Europe’s most disadvantaged neighbourhoods, the port city seemed down on its luck, unloved and, in the eyes of many, somewhere to avoid. Tourists stopping at the city’s Saint-Charles station would clutch their bags while waiting for their connecting train to rural Provence, or the beaches of the Côte d’Azur. Two decades on, poverty and drug gang violence still affect parts of Marseille, but this rough diamond has been reinvented as a modish holiday destination. Last month, I saw a local TV channel asking whether Marseille had become France’s capital of tourism, after Booking.com revealed it had surpassed Paris and Nice as the most searched-for destination for French users of the site. Breathless foreign media coverage – the New York Times published a “36 hours in Marseille” guide in 2019 and another one in 2025 – has driven the number of overseas visitors. From seaside petanque to vocoder rap and pizza served on aluminium plates, influencers revel in the golden-hued aesthetic of the urban riviera and promote the city’s most Instagram-friendly corners. Tourist numbers are expected to reach almost 7 million this year...

The Guardian • 8/28/2026, 4:00:50 AM
business

Xi’s crusade against corruption has gone well beyond economic crime

The South China Morning Post has launched a major data project diving into President Xi Jinping’s signature anti-graft campaign. In the fourth part of an accompanying series, Yuanyue Dang and William Zheng delve into the broader reach of the campaign. While economic crimes are often seen as the target of President Xi Jinping’s crusade against corruption, the campaign has become much wider. Thirteen years since it began, it is now increasingly about how officials use their power, whether they toe...

South China Morning Post • 8/28/2026, 2:00:14 AM
business

Hong Kong home prices end 13-month upswing as mainland Chinese tax fears weigh on demand

Hong Kong’s lived-in home prices fell 0.46 per cent in July, halting a 13-month upswing, according to the latest official data. The index tracking second-hand homes slipped to 321.5 in July from 323 in June, Rating and Valuation Department (RVD) data showed on Thursday. It was the first decline in 16 months – since April last year. Prices were flat in May last year before climbing steadily for 13 months from June. “As residential property prices have increased by 7.3 per cent year to date,...

South China Morning Post • 8/28/2026, 12:00:16 AM
health

Nigeria: the lucrative business of kidnappings

In tonight's programme, we speak to a Lagos analyst behind a new report laying out the figures behind abductions. Also, Tanzania's ruling party kicks the vice-president out even after he announces his plans to step down next week. And finally in Senegal, the first African-manufactured generic drug to treat sickle cell disease is raising hopes of better treatment and reduced reliance on costly imported medicine.

France 24 • 8/27/2026, 8:49:22 PM
business

Democrats to investigate ‘miraculous’ rise of Trump Jr’s investment firm

Congressman Jamie Raskin asks president’s son to detail firm’s recent success after he joined 1789 Capital as partner Democrats on a powerful US congressional committee have launched an investigation into a venture capital firm which has thrived since recruiting Donald Trump’s son. Donald Trump Jr joined 1789 Capital as a partner just days after his father won a second term in office in November 2024. Congressman Jamie Raskin, ranking member of the US House of Representatives judiciary committee, has asked the president’s son to detail the firm’s recent success...

The Guardian • 8/27/2026, 8:33:14 PM
business

Chelsea agree £7.5m deal to sign Emiliano Martínez from Aston Villa

Goalkeeper’s arrival may lead to Robert Sánchez’s exit Chelsea expect Manchester City bid for Enzo Fernández Chelsea have agreed a £7.5m deal to sign the Aston Villa goalkeeper Emiliano Martínez and are expecting Manchester City to make an offer for Enzo Fernández in the next 48 hours. Xabi Alonso identified the signing of a goalkeeper as a priority after Robert Sánchez struggled against Fulham last Monday and the deal for Martínez has gone through quickly. The Argentina international is out of favour at Villa after their acquisition of Zion Suzuki and is due to sign a two-year contract with the option of a further year...

The Guardian • 8/27/2026, 6:19:59 PM
business

Ex-Barclays boss denies having sex with a woman dressed as Snow White

Jes Staley made the comments to US lawmakers investigating his links to Jeffrey Epstein The former Barclays boss Jes Staley has denied having sex with a woman dressed as Snow White, after being questioned about an infamous email exchange about Disney princesses with Jeffrey Epstein. The comments were detailed in newly released transcripts from a closed-door interview last month with US lawmakers as part of their investigation into Epstein, who died in prison in August 2019 while awaiting trial on child sex-trafficking charges...

The Guardian • 8/27/2026, 5:21:00 PM
business

Bots and bargains: Zara owner launches cut-price Lefties in UK to rival Primark

First robot-assisted outlet opens in Liverpool to take on Shein and supermarkets in clothing, shoes and homewares Business live – latest updates The owner of Zara is taking on Primark, Shein and the supermarkets with the launch of its cut-price chain Lefties in Britain, backed by an army of robots. The Spanish fashion brand opened its first UK store in Liverpool on Thursday, a few weeks after quietly launching its UK website...

The Guardian • 8/27/2026, 2:00:25 PM
business

UK airports operator hit by cyber-attack and customer data accessed

Company that runs Manchester, Stansted and East Midlands airports says passenger safety is unaffected Business live – latest updates Three UK airports have been hit by a “cybersecurity incident” in which the data of about 8.7 million customers was accessed, Manchester Airport Group (Mag) has said. The company, which operates Manchester Airport, London Stansted and East Midlands airport, said that “at no point has passenger safety or aviation security been compromised” during the incident and that neither Mag nor the system hacked held customers’ bank or payment details...

The Guardian • 8/27/2026, 12:21:11 PM
business

Youth unemployment in UK falls below 1 million

Number of Neets is 30,000 higher than a year ago but figures boost efforts to reverse rise in economic inactivity The number of young people not in education, employment or training (Neet) across the UK fell below 1 million in the latest three-month period. In a boost to the government’s efforts to reverse years of rising economic inactivity among people aged 16 to 24, the Office for National Statistics said its surveys showed there were an estimated 981,000 Neets in April to June, compared with 1,012,000 in January to March. On an annual basis, the number of Neets was 30,000 higher than a year ago, but the fall covering the most recent three-month period will give a lift to ministers concerned that, at 13%, the proportion of young people outside work, education and training remains among the highest in Europe...

The Guardian • 8/27/2026, 10:32:27 AM
business

Firm fined for hounding elderly people with nuisance calls claiming to stop … nuisance calls

Elderly Aids Ltd, which sells call-blocking devices, made 758,053 cold calls between May 2024 and February 2025 A company that made its money promising to protect elderly people from nuisance calls has been fined £190,000 for “hounding” them with hundreds of thousands of nuisance calls of its own. The Information Commissioner’s Office (ICO) said Elderly Aids Ltd, a company selling call-blocking devices, made 758,053 cold calls between May 2024 and February 2025 to try to sell its products...

The Guardian • 8/27/2026, 9:34:27 AM
business

UK’s small power plants face continued cyber risk after Iran-linked hack

Government measures to improve resilience are not due until 2030 and July’s hack has not altered this timeline Hundreds of Britain’s smallest power plants could remain at a higher risk to state-sponsored cyber-attacks until the 2030s despite a successful Iran-linked hack last month, it has emerged. Officials this week briefed energy bosses on the breach, which is understood to have shut an unnamed small gas power plant for four days last month, and put the industry on alert over the growing cyber threat facing energy infrastructure...

The Guardian • 8/27/2026, 9:00:10 AM
technology

Asian technology shares ride high on AI optimism after Nvidia’s ‘stunning’ results – business live

Investors breathe sigh of relief after AI bellwether Nvidia reports doubling in quarterly revenue to nearly $100bn Good morning, and welcome to our rolling coverage of the global economy, the financial markets, the eurozone and business. Asian technology shares rose after bumper results from the US chipmaker Nvidia last night. The AI juggernaut is rumbling on with Nvidia smashing through expectations, amid voracious demand for the tech backbone of the AI revolution. The results solidified high expectations for the company’s mega revenues going forward, and shares firmed up, leaving behind the post-results wobbles seen after previous updates. Given the might of Nvidia, which carries the largest weight of any company in the S&P 500, the results are closely watched as a gauge of sentiment towards AI adoption, and the prospects for the index, which so many portfolios track. Demand for its Blackwell chips has been particularly significant, showing that customers are continuing to spend heavily on Nvidia’s newest generation of AI accelerators rather than simply filling existing capacity. With demand still running ahead of supply, Blackwell is helping to power the next leg of the AI infrastructure build-out. Jackson Hole Economic Policy Symposium begins in the US 1.30pm BST: US Initial jobless claims for week to 22 August 1.30pm BST: US trade in goods for July..

The Guardian • 8/27/2026, 7:14:17 AM
business

City firms race to prepare for FCA crackdown on bullying and harassment

Rules will require hedge funds, insurers and pension firms to report all non-financial wrongdoing The City’s largest hedge funds, insurers and pension funds are racing to prepare for sweeping rules that will stop nearly 40,000 companies from hiding bullying and harassment cases from the financial watchdog. From the start of next month, the Financial Conduct Authority (FCA) will expand a crackdown on bad behaviour in the banking industry to a wider group of City investment firms and brokers...

The Guardian • 8/27/2026, 7:00:08 AM
business

Top of the crops: record heatwaves help deliver bumper UK berry harvest

Investment in climate-resilient irrigation enables this year’s haul to rise 6% on 2025’s already bigger-than-usual yield British farmers have faced a sweltering summer tested by heatwaves, wildfires and water shortages – but a bumper berry harvest could prove a rare bright spot. With two-thirds of the harvest now picked, this year’s haul is 6% up on last year’s already unusually large crop, according to British Berry Growers (BBG). Volumes of blackberries, blueberries and raspberries picked have been particularly strong, the trade body said...

The Guardian • 8/27/2026, 4:00:04 AM
business

Ex-JPMorgan Chase executive shared confidential bank information with Epstein

Jes Staley told US House committee he also was at one point named a trustee of convicted sex offender’s estate Former JPMorgan Chase executive Jes Staley told US lawmakers he repeatedly shared confidential and market-sensitive bank ⁠information with Jeffrey Epstein and ⁠was at one ​point named as a trustee of his estate, according to a transcript released by the House oversight committee on Wednesday. These admissions come as lawmakers investigate the late convicted ⁠sex offender’s ties with political and business elites. Staley appeared before the committee in July as part of its investigation into Epstein and his associate Ghislaine Maxwell. Transcripts ⁠from the meeting were released on Wednesday...

The Guardian • 8/27/2026, 1:25:02 AM
business

Key witness in Meta trial says terms of settlement insufficient to halt apps’ harms to teenagers

Exclusive: Arturo Béjar, an ex-Facebook employee and whistleblower, said outcome ‘is not an all clear to say the product is safe’ Meta agrees to major changes to Facebook and Instagram in settlement The star witness in the US government’s landmark trial against Meta believes that a multibillion-dollar settlement reached on Wednesday does not go far enough to stop the social media giant’s harms to young users. “The limitations that are in the agreement are the equivalent of saying: ‘Well you can smoke as many cigarettes as you can in two hours a day,’” said whistleblower and ex-Facebook employee Arturo Béjar. “It doesn’t make the cigarettes any safer.”..

The Guardian • 8/27/2026, 12:37:10 AM
business

Meta’s settlement will compel others to bend the knee and set up teen guardrails

Instagram and Facebook’s parent company agreed to sweeping alterations and a payment of upto $18bn to settle a landmark trial Meta’s agreement to change how teenagers use its social networks marks a major turning point for the US tech giant, setting a precedent that could significantly reshape how other social media operates in the coming years. Meta agreed to substantial alterations to Instagram and Facebook on Wednesday as part of a settlement to end a landmark lawsuit. Dozens of US states had accused it of addicting and harming children with dangerous products. The company also agreed to pay up to a combined $18bn over a decade to several US states and territories involved in the suit...

The Guardian • 8/26/2026, 10:20:21 PM
business

What’s about to change on Facebook and Instagram: six key takeaways from the end of the Meta trial

Settlement agreement says Meta must make many safety and wellness features the default option for young users Meta has agreed to put new guardrails on teenagers’ use of its apps, in a decision that could fundamentally change the social media experience for young people in the US. In a turnaround, the social media giant will make several safety limitations the default option for young users, instead of requiring them to opt in...

The Guardian • 8/26/2026, 9:31:06 PM
sports

England reflect on new late-night drama as Pakistan seek Lord’s revival | Ali Martin

Joe Root’s side have golden chance to claim first series win since 2024 but are dealing with familiar off-field issues Here we go again, then. It feels like every Test involving England these days is one of critical importance in some way or other. On one level, this is good for business, showing the depth of interest compared with other, ahem, products. But it is not necessarily a good thing for the team in this instance. Since Ben Stokes retired and the last of Bazball’s many funerals in June, the players left behind have been trying to wriggle free from their recent past. Problem is, they are finding certain aspects trickier to shake off than others. For the second time this summer, a thumping win to go 1-0 up has been doused instantly by a late night on the drink and the headlines inevitably generated...

The Guardian • 8/26/2026, 7:00:20 PM
business

How to lose Trump’s trade war: test Canada’s resolve with threats to hockey sticks

The US president expected Ottawa to bow to tariff demands, but Canada is striking back – and it could cost Americans This was originally published in This Week in Trumpland. We all know this kind of polling is about as scientific as a high school popularity contest, but at least anecdotally, Canadians have a reputation for being friendly and welcoming, respectful and polite. Many people would find it difficult to dislike Canadians. But not Donald Trump, who in a “hold my beer” moment this week demonstrated that he, at least, finds it easy to resent Canadians. The US president called the country “difficult and unreasonable”, and in a particularly hysterical moment, threatened to rename a lake, after trade talks collapsed...

The Guardian • 8/26/2026, 6:15:21 PM
business

The London stock market dodged a bullet with Shein | Nils Pratley

China’s fashion giant will list in Hong Kong with a shrunken price tag – and big questions over its business model In a parallel world, we might now be preparing for the arrival on the London stock market of Shein, the giant Chinese-founded fast-fashion retailer. Or it could have happened already. The possibility of a London flotation was a running story during 2024 and into last year as politicians from both main parties engaged in behind-the-scenes wooing. Shein was seen as a shot of tech adrenalin for a listless local listings scene, and an opportunity to advertise the UK’s openness to international capital...

The Guardian • 8/26/2026, 4:21:36 PM
power

Pubs, bars and hotels report ‘Burnham bounce’ in optimism but call for further tax relief

Sentiment in hospitality and brewing sectors more positive since business rates action, trade bodies’ survey finds Pubs, bars and hotels have reported a “Burnham bounce” in optimism as a result of the prime minister’s overtures to the sector, polling suggests, but they warn that the goodwill could evaporate without further tax relief. Andy Burnham has positioned himself as a staunch ally of the UK’s hospitality industry both before and since his arrival at No 10, last month announcing a discount on business rates for pubs, clubs and live music venues...

The Guardian • 8/26/2026, 2:35:24 PM
sports

Fury v Joshua uncertainty will be resolved next week, insists Frank Warren

Promoter says negotiations are subject to a time limit ‘They won’t let it go past the end of next week’ Frank Warren believes that the tortuous negotiations surrounding the proposed fight between Anthony Joshua and Tyson Fury are subject to a time limit which will run out by the end of next week. Conceding that he is unsure if the much-delayed bout will happen, Warren also said the decision now depends solely on Joshua and that Fury, whom he promotes, is already in training in the US and ready to fight an alternative opponent in November. “Nothing’s been signed off as yet,” Warren said in regard to a revised contract for Fury and Joshua to fight in New York. “Everybody’s talking and talking rather than getting on with the business and getting it done. I think it will happen and if it doesn’t, and I think there’s a time limit on it, by the way, it will be one of those fights that slipped by...

The Guardian • 8/26/2026, 2:23:53 PM
business

A Ugandan quarry worker carrying rocks on her head: Dan Nelken’s best photograph

‘Janet had eight children. Her husband drove a boda-boda taxi, but had lost a leg – so she had been working in her local quarry for 10 years. “I am now the husband in this home,” she said’ In 2017, my wife, Adele Brown, was invited to spend three weeks at an NGO in Gulu, Uganda, teaching critical thinking skills to blind high school-age students. I was asked along to document the organisation’s activities. I became fascinated by the town’s main market, where vendors sold goods such as used clothes, fruit and firewood. I asked the Ugandan teachers how I might approach someone to take their portrait. They suggested I offer a modest “model fee” after seeking permission. One of the students – Emmanuel (Emma) – wanted to assist me. We would visit the market together. When I saw a vendor I wanted to photograph, Emma would approach and seek their consent. Most agreed, but after returning home to New York, I looked at the results and was disappointed. As with other well-intentioned projects, I thought that was the end of it...

The Guardian • 8/26/2026, 2:00:15 PM
business

Meta agrees to major changes to Facebook and Instagram as it settles US trial over teen addiction for up to $17bn

US tech giant agrees to establish further protections for teens such as daily usage limits and blocks on nighttime use Meta reached an agreement to settle a landmark case brought by states across the US that accused the tech giant of addicting and harming children with dangerous products, according to a court filing released on Wednesday. The agreement will require the social media company to pay up to $17bn. Meta agreed to establish safeguards for teenage users, including daily usage limits and nighttime blocks nationwide in the US. This is the first time Meta has been forced to change how its platforms function. As part of the settlement, the company denies wrongdoing...

The Guardian • 8/26/2026, 1:37:15 PM
technology

Bill Gates calls for ‘human reserved’ jobs in face of AI takeover

Microsoft co-founder also expresses concern governments not prepared for technology’s impact in 6,000-word essay Business live – latest updates Bill Gates has called for “human reserved” jobs in certain sectors to prevent AI replacing them, and expressed concern that governments are not prepared for the impact the technology will have. In a 6,000 word essay titled The turbulent AI era is here. The choices we make are critical, the billionaire Microsoft co-founder likened the need to spare roles from digital encroachment to how nature reserves operate to protect the environment...

The Guardian • 8/26/2026, 10:33:43 AM
culture

America unites in mourning for Dolly Parton

Americans of all stripes united to grieve the death of country music legend Dolly Parton, offering a rare moment of agreement as presidents of both parties joined entertainment and business giants in paying her tribute. The singer, who was 80, was long heralded as one of the few celebrities that everybody loved. President Donald Trump announced the lowering of flags across the United States for a week, calling Parton's death a "true loss for millions of people."

France 24 • 8/26/2026, 10:19:45 AM
business

Wiped out: US faces surging toilet paper prices amid trade war with Canada

Paper products among hardest-hit sectors after trade negotiations broke down, with 25-50% tariffs estimated Are you a Canadian boycotting US products? We’d like to hear from you Using the bathroom or having a cry is about to become more expensive for North Americans as the US and Canada enter a full-fledged trade war that threatens to flush away decades of peaceful trading between the two nations. After trade negotiations broke down between the two countries last weekend, Mark Carney, the Canadian prime minister, vowed to match US tariffs “dollar for dollar” and unveiled a list of nearly 900 American goods that will face 25% to 50% tariffs starting on 8 September...

The Guardian • 8/26/2026, 10:00:41 AM
climate

Labour’s energy bills crisis is getting worse. Political honesty is essential | Nils Pratley

Ofgem and ministers should be transparent about why energy bills for households are expected to stay stubbornly high Britons face highest price cap in three years as energy bills rise 4% from October Another Ofgem energy price cap day, another increase in bills. Miatta Fahnbulleh, the new energy secretary, can blame the usual culprit on Wednesday – the fossil fuel price “rollercoaster”, given a shove this time by Donald Trump’s Middle East misadventure. Higher gas prices will indeed be the main quarter-on-quarter reason why bills stand at a three-year high on a unit basis. But there is more to the tale on a longer view. Even when the gas rollercoaster dips downwards, the energy industry’s medium-term projections suggest bills will not fall meaningfully...

The Guardian • 8/26/2026, 6:15:35 AM
business

UK households face 4% rise in energy bills to average of £1,723 from October – business live

Gas and electricity bills rise to highest level in three years The 4% rise in the energy price cap is as expected. Neil Kenward, Ofgem’s director general for markets, said: High international gas prices are continuing to drive energy costs in the UK. We welcome the government’s intervention to remove VAT from electricity bills, without which customers would have faced even higher costs this winter. Savings are available by choosing a fixed tariff, which are available at £100 or more below the October price cap, and many suppliers offer tariffs with cheaper electricity to smart meter customers for electricity consumed out of peak times. It’s also worth considering different payment methods, with prepayment customers paying the lowest price cap rates, and could save consumers an average of about £45 compared to direct debit. This increase reflects higher wholesale gas prices as a result of the ongoing conflict in the Middle East, with volatile global gas markets remaining the dominant driver of price changes. However, prices remain 52% below the height of the energy crisis in 2022 when the government stepped in to cap bills at £2,500. While higher wholesale prices are pushing up both gas and electricity costs, the VAT reduction means electricity bills will remain broadly stable. As a result, most of the increase in the price cap is driven by higher gas costs, with gas bills rising by 8%, meaning that households which do not use gas will see a much smaller increase of less than 1%. Without the government’s intervention on VAT, this figure would have been around £45 higher. The VAT removal also benefits customers currently on fixed tariffs, with the discount automatically applied by suppliers...

The Guardian • 8/26/2026, 6:13:14 AM
business

Britons face highest price cap in three years as energy bills rise 4% from October

A typical household in Great Britain will pay £1,723 a year, prompting calls for more support Nils Pratley: Labour’s energy bills crisis is getting worse Business live – latest updates Millions of British households will face the highest energy charges in three years this winter after months of rising market prices pushed up the government’s price cap for the second time in three months. Gas and electricity prices will rise by 4% from October under the new cap, after climbing 13% at the start of July to take account of global energy market price rises caused by the war on Iran...

The Guardian • 8/26/2026, 6:04:34 AM
money

Is the Trump Treasury panicking over the level of US debt?

With the federal deficit near 6% of GDP and the national debt over $40tn, America’s fiscal position looks increasingly precarious Bessent ‘will lose’ battle with bond markets, ex-mentor warns Are we seeing the first signs of panic in Donald Trump’s Treasury? The US is by far the world’s biggest debtor, and the steady rise in global long-term interest rates – which I have long argued was inevitable – is starting to cause real pain. Until now, the Treasury secretary, Scott Bessent, has dismissed concerns about US debt, which recently surpassed $40tn, as a big nothingburger. Growth, in his telling, will be so spectacular the US will easily be able to meet its interest obligations without any significant tax rises or spending cuts, while the rest of the world will happily keep feeding it money. But if Bessent really believes that, why is he trying to strong-arm the bond market by fiddling with the maturity structure of government debt?..

The Guardian • 8/26/2026, 5:00:34 AM
business

‘A mockery’: how offshore tax havens are thwarting the UK’s transparency push

Critics say ownership registers are too costly and too complicated, scuppering attempts to expose alleged money laundering Since Britain’s offshore secrecy jurisdictions caved in to pressure from Westminster to embrace corporate transparency, finding out who owns a company in one of these island havens is, in theory at least, a piece of cake. Take the Cayman Islands...

The Guardian • 8/26/2026, 4:00:34 AM
business

Instagram CEO denies company hid low use of teen safety feature in Meta trial

Adam Mosseri is first top executive from Meta to testify in blockbuster lawsuit brought by 29 US states Instagram’s CEO disputed allegations by US prosecutors that his company hid negative information from the public while testifying during a blockbuster social media trial. “I am not trying to encourage my team to hide anything,” the CEO, Adam Mosseri, told a California courtroom on Tuesday...

The Guardian • 8/26/2026, 12:07:11 AM
power

Burnham mulls insolvency law shake-up to help bring utilities under public control

Exclusive: Rules on special administration seen as potential ‘roadblock’ to reshaping how UK’s essential services are run Andy Burnham is considering ripping up the country’s insolvency laws to make it easier to bring key utilities such as Thames Water under public control. Sources have told the Guardian the prime minister is considering a range of options as he seeks ways of delivering on his promise to radically reshape the way Britain’s water and energy companies are run...

The Guardian • 8/25/2026, 6:13:56 PM
business

The Guardian view on Trump’s economic threats: bullies can overplay their hand | Editorial

Tariffs on Canada, threats against Iran’s partners and bond market intervention show a president weaponising US power while making Americans poorer at home Three moves in the last week have exposed the limits of Donald Trump’s economic bullying. The US slapped 50% tariffs on another $20bn of Canadian goods – then threatened the same rate on the cars, trucks, parts and steel that America Inc depends on. On Monday, the Treasury secretary, Scott Bessent, menaced Iran’s trading partners with exclusion from the US financial network, hoping that coercion can deliver what months of war have not. And as the costs of war, tariffs and pro-billionaire tax cuts helped send US bond yields higher, the Treasury stepped in to tame long-term rates. These are not contradictory policies but a gamble: that US economic power can be repeatedly weaponised without reducing others’ willingness to depend on it. The Trump administration’s “D-day” sanctions are potentially the most consequential because they expose the scaffolding of American financial power. While markets shrugged off the immediate threat, that calculation might change were the US to target a major Chinese refinery or bank. Such an escalation could spark a trade war with Beijing. The US has leverage. But China has pressure points – especially farmers in Republican states – that make using it costly. In the long run, there is a price to pay. Nations hold one another’s currencies partly because they trust the political relationship. Mr Trump is testing what happens when they don’t...

The Guardian • 8/25/2026, 5:27:24 PM
business

Canada announces retaliatory tariffs on wide range of US goods

Ottawa’s ‘focused response’ to levies imposed by Donald Trump on Canadian products comes after trade talks collapsed last week US politics live – latest updates Canada has announced it will impose tariffs on a wide range of key American industries including cosmetics, dairy, wood products and outdoor equipment in the coming weeks, as it retaliates roughly “dollar for dollar” against levies imposed by the US. In a strong Canadian countermove to tariffs levied by Donald Trump, which took effect on Saturday after trade talks collapsed the day before, Canada’s finance and industry ministers on Tuesday called the measure a “focused response” to what they see as unfair trade practices...

The Guardian • 8/25/2026, 4:17:44 PM
business

VW workers boo boss as he urges them to ‘pull together’ amid job cuts

Oliver Blume faces workforce at German HQ as carmaker struggles against Chinese competition and US tariffs The chief executive of Volkswagen has faced boos and whistles of protest at the company’s headquarters after telling thousands of workers that a comprehensive reorganisation, which could include job losses and factory closures, is vital for its future. As Oliver Blume urged more than 10,000 workers on Tuesday to “pull together”, saying drastic restructuring measures at the struggling manufacturer were essential, they held up banners and shouted slogans, including: “Our jobs are not your balance sheet adjustments”...

The Guardian • 8/25/2026, 3:47:56 PM
business

New York business group sues Mamdani over city-owned grocery stores plan

Multicultural Business Coalition sues New York City mayor, alleging plan for city-run stores will harm smaller grocers A New York City business group sued mayor Zohran Mamdani on Monday over his plan to create five municipally owned grocery stores. The Multicultural Business Coalition, which says it represents hundreds of small supermarkets, filed two lawsuits in New York county supreme court on Monday, arguing that the plan violates the civil rights of smaller, immigrant- and minority-owned businesses. The group argues that smaller stores would be unable to match the discounts offered by the city grocery stores and “therefore, will be put out of business,” according to the lawsuits...

The Guardian • 8/25/2026, 2:48:54 PM
technology

‘Environmental violence’: inside the fight to save indigenous land from becoming a nuclear dumping ground

New documentary To Use a Mountain spotlights the pain and triumph of resisting government efforts to turn parts of rural US into disposal sites Nuclear energy was supposed to be our salvation, humanity’s chance to retool technology first conceived as a weapon of mass destruction into an engine of limitless prosperity. But even as the industry touted nuclear fission as an economic game-changer (never mind the astronomical startup costs), a safety paragon (never mind the spills at Chornobyl, Three Mile Island and Fukushima) and harmless fodder for an American comedy institution (never mind that glowing rod on Homer’s back or the three-eyed fish), there was no getting around the matter of what to do with all the toxic waste (never mind nuclear’s claimed green credentials). The stagnant state of that dirty business brought Casey Carter, the director of the new avant-garde documentary called To Use a Mountain, back to his interview with a Washington state farmer who was part of a class-action lawsuit against the government over the release of radioactive material from the Hanford nuclear reservation – site of the world’s first full-scale plutonium production reactor. The farmer’s words still echo, despite ultimately being cut to fit the film’s 90-minute runtime. “He joked that nuclear power is the only faith-based energy because everyone always asks, ‘Do you believe in it?’” Carter says. “He was like, ‘You don’t have to believe in solar. It’s just a pretty good idea.’”..

The Guardian • 8/25/2026, 9:00:53 AM
business

From Scotland, I look at England’s water privatisation disaster. I wish you had done what we did | Devi Sridhar

Listening to debate, you’d think bringing English water companies into public ownership was a radical socialist idea. Here, we call it common sense Prof Devi Sridhar is chair of global public health at the University of Edinburgh Every few months, there are more shocking headlines about the behaviour of England’s water companies. The latest are about the ever-increasing pay of the chief executives and chief financial officers, which rose to a total of £25.3m across 14 companies over the past year. Meanwhile, people living in England struggle with rising water bills and untreated sewage being discharged (often illegally) on to beaches and in to lakes, and companies such as Thames Water are on the brink of insolvency and want government backing. It’s not surprising that we’re in this situation: England’s water companies have long been accused of putting the interests of shareholders above those of customers. From their perspective, the privatisation of water has been an astounding success. Between 1991 and 2019, dividends to the shareholders of the parent companies totalled £57bn, which averages out to more than £2bn every year. The majority of these private parent companies are foreign-owned, so the profits aren’t even kept in Britain. Prof Devi Sridhar is chair of global public health at the University of Edinburgh..

The Guardian • 8/25/2026, 9:00:53 AM
sports

Lego sales rise as World Cup and F1 ranges prove to be winners

Danish toymaker also scores success with KPop Demon Hunters, Star Wars and botanicals products Business live – latest updates Lego sales have risen by more than a fifth as tie-ups with the football World Cup, Formula One and the hit film KPop Demon Hunters as well as its flower-based and Star Wars kits drive demand. The Danish toymaker said its revenues increased by 21% to 41.9bn Danish kroner (£4.8bn) in the first six months of 2026, driven by strong growth in the Americas, Europe and the Asia Pacific regions. Sales by its clients to consumers rose by 22%...

The Guardian • 8/25/2026, 8:08:03 AM
business

US Treasury’s Scott Bessent ‘making mistake’ interfering with bond markets, former mentor warns

Trump ally should cut budget deficit rather than try to suppress bond yields, says billionaire Stanley Druckenmiller Scott Bessent’s attempt to calm the bond markets and push down America’s cost of borrowing have attracted a rebuke from the US Treasury secretary’s former mentor. Billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros’s fund management firm in the 1990s, has warned that his former pupil is courting danger by trying to suppress US bond yields...

The Guardian • 8/25/2026, 6:57:55 AM
business

Gold hits highest level in three months as traders worry about US inflation and bond market jitters – business live

Spot gold touches almost $4,700 an ounce and Bitcoin tops $80,000 while oil prices fall despite threat of heavy US sanctions on Iran and any country trading with it Ipek Ozkardeskaya, senior analyst at Swissquote, has sent us her thoughts on gold. Renewed appetite for gold despite elevated long-term US yields is striking and sends a clear message: investors are moving back to the precious metal as: A hedge against unclear US fiscal plans and the lack of conviction in the US administration’s capacity to rein in exploding debt when military expenses are adding to already heavy bills. A hedge against inflation, amid questions over the Fed’s willingness, or ability (!), to fight inflation independently. A hedge against a potential rout across global risk assets on worries about high valuations, massive AI spending and the growing financing web around the companies involved in building the AI ecosystem – the circularity. The question is: will gold gather enough momentum to return sustainably above the $5,000 mark? Possibly, yes. The broad de-dollarization trade that’s quietly building in the background, justified by global institutions’ efforts to diversify away from US Treasuries and toward gold, remains supportive of gold in the longer run. In the shorter run, overbought conditions could lead to downside corrections, giving dip-buying opportunities to long-term bulls. Well, we are giving everyone the opportunity to remedy bad behaviour. Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure period, but they should know that that will move very quickly and that we are serious...

The Guardian • 8/25/2026, 6:49:36 AM
business

‘Petty grievances’ and an alleged troublemaker: unsealed Murdoch court documents give rare glimpse into bitter succession battle

Rupert Murdoch said in newly released correspondence that it would be a disaster if his media empire fell into the ‘wrong hands’ A year ago, Rupert Murdoch resolved the long-running fight over which of his children would control his sprawling media empire, ending a bitter legal battle and anointing his eldest son, Lachlan, as his successor. Now, court documents have offered a rare glimpse into the family’s clashes before the decision, revealing the patriarch’s view of son James as a troublemaker who had to be ousted from the business and detailing tensions between Murdoch’s four eldest children and their airing of “petty grievances” about their father...

The Guardian • 8/25/2026, 5:33:18 AM
climate

Europe’s heatwaves threaten insurers’ earnings, rating agency S&P says

Rise in claims linked to heat-related deaths and illness, especially among older people, could drive up premiums Europe’s intense heatwaves could hit insurers’ earnings as companies face a rise in claims linked to heat-related deaths and worsening health conditions, the rating agency S&P has said. While a long summer of extreme heat will have increased drought and wildfire-related claims, the rating agency said there would also be fallout for life and health insurers, and for the reinsurers who provide financial protection to insurance companies...

The Guardian • 8/25/2026, 4:00:48 AM
power

China is the biggest buyer of Iran’s oil. Could US sanctions threaten those ties?

The US has put the world on notice to cease doing business with Iran, but experts say Washington is wary China could retaliate against any sanctions The US has unveiled an expansion of sanctions that it says will cut off Iran’s economic lifeline but stopped short of the most punishing measures, instead putting the world on notice to cease doing business with the Islamic republic. Treasury secretary Scott Bessent ⁠warned other countries would need to sever ⁠business ties with Iran or risk being ​forced out of the dollar-based financial system. He previously urged cooperation from China – the biggest buyer of Iranian oil for several years – although the US blockade of Iran’s ports, renewed in mid-July, has already cut much of the Iranian oil flows to China...

The Guardian • 8/25/2026, 2:44:59 AM
business

Trump announces new 50% tariff on Canadian cars, trucks and steel

Move is latest deterioration in trade relations between neighbors with historically strong economic ties Donald Trump announced a new 50% tariff on automobiles and crucial raw materials from Canada, the latest deterioration in trade relations between the two neighbors with historically strong economic ties. Trump said that the increased tariffs would start 1 January 2027 on all cars, trucks, automobile parts and steel. He also derided the nation’s tariffs on American farmers, writing on social media that Canada has been “ripping off” the US “for years”...

The Guardian • 8/24/2026, 6:55:43 PM
business

Problems brewing for the proper pint as Camra membership falls

Cost of living has hit campaign group while multinationals are threatening to squeeze out independent breweries For centuries, the wooden real ale pump has been the hallmark of a good British boozer. But now problems are brewing for the proper pint, as the Campaign for Real Ale has seen its membership sink to an eight-year low and its accounts show it is firmly in the red, making an £800,000 loss last year. Real ale is a traditional draught cask beer, a “living” product that is produced and stored in its cask. It differs from a cold, fizzy lager, in which the yeast is killed and carbon dioxide is added. Real ale contains live yeast so it continues fermenting until it is served...

The Guardian • 8/24/2026, 5:01:13 PM
climate

Households in Great Britain ‘could owe energy suppliers £7bn by end of year’

After higher prices for winter kick in, energy debt unpaid for more than 30 days likely to rise, says Energy UK Households in Great Britain could owe their energy suppliers as much as £7bn by the end of the year after higher gas and electricity prices forecast for the winter kick in, an industry group is warning. Domestic energy debt and arrears climbed by about £500m over the past year to a record £6bn at the end of June as the Middle East conflict continued to stoke rising gas market prices...

The Guardian • 8/24/2026, 3:40:33 PM
business

Netflix, Disney+ and Amazon price rises in western Europe ‘highest in world’

World’s largest streaming services have also increased subscription costs repeatedly in US, research finds Business live – latest updates Subscribers to Netflix, Disney+ and Amazon Prime Video in western Europe have faced higher price increases than in any other market in recent years, according to research. Over the past four years the world’s largest subscription video streaming services have dramatically changed their business models introducing lower-priced, basic advertising tiers to attract new subscribers, while also increasingly monetising users willing to pay more for a premium experience...

The Guardian • 8/24/2026, 1:45:04 PM
business

Up to £464m ‘moved through more than 3,000 UK high street shell companies’

Research shows firms are branded as beauty and convenience but apparently operate in money-laundering and terrorist financing sectors Up to £464m has “moved through” more than 3,000 UK shell companies branded as beauty and convenience stores but apparently operating in the money-laundering and terrorist financing sectors, a new analysis sets out. The companies – listed as hairdressers, barber shops and salons, on the one hand, or mini-marts and corner shops on the other – show “remarkably similar lifespans” of about six months despite their seemingly different purposes...

The Guardian • 8/24/2026, 12:49:17 PM
business

Thames Water creditors accused of ‘shuffling deckchairs’ with plan for new board

Campaigners say proposal for £10bn rescue deal in bid to avoid nationalisation is a ‘cosy stitch-up’ Business live – latest updates The group of creditors pursuing a rescue bid for Thames Water have been accused of shuffling the deckchairs on the Titanic after proposing an overhaul of the stricken utility’s board. In a bid to stave off temporary nationalisation by Andy Burnham, the lenders said they would appoint Liz Barber, the former chief executive of Yorkshire Water, and Clive Selley, the former chief executive of network operator Openreach, as directors if they are allowed to take formal control of the company...

The Guardian • 8/24/2026, 10:38:07 AM
money

The treasury bond mess: is this the demise of the US as a safe haven?

The US is scooping up treasury bonds in an effort to raise their price and push yields down – but it’s not working The bond market is driving the Trump administration crazy. Last week, the treasury secretary, Scott Bessent, announced that the government would sharply ramp up its purchase of treasury bonds, in an effort to raise their price and thus push down their yield, which amounts to the interest rate the government pays on its debt. It didn’t quite work as planned. Yields on treasurys fell after Bessent’s bond market intervention but soon bounced back. By Friday afternoon, the yield on the 10-year treasury was back near where it was before the secretary’s announcement. The yield on the 30-year bond was again trading around its highest level in 20 years or more...

The Guardian • 8/24/2026, 10:00:30 AM
business

Fast-fashion giant Shein lowers value to $27bn for Hong Kong IPO

China-based retailer swung to $99m loss in first quarter and faces scrutiny over its environmental footprint Business live – latest updates Shein, which built a fast-fashion empire on what seemed like impossibly low prices, has been forced to lower its own valuation in a cut-price stock market float, after falling into the red earlier this year. The online retailer will list on the Hong Kong stock exchange on 1 September at a valuation of close to $27bn (£19.8bn), significantly down from a near-$100bn private market peak four years ago...

The Guardian • 8/24/2026, 8:46:52 AM
business

UK graduate job vacancies plunge to lowest in a decade

Just 8,383 jobs for people leaving university were advertised in July, says recruitment website Adzuna Business live – latest updates Graduate job vacancies in the UK have sunk to their lowest level since they started being tracked a decade ago, according to a recruiting website. Just 8,383 jobs for people leaving university were advertised in July, Adzuna reported on Monday, down 45% compared with the same point last year and the lowest since the company started gathering the data in 2016...

The Guardian • 8/24/2026, 6:55:31 AM
business

New Fed chair faces critical test at Jackson Hole as inflation fears mount

Investors will hope Kevin Warsh offers ‘comfort blanket’ at annual meeting of central banks amid bond market anxiety The new US Federal Reserve chair, Kevin Warsh, faces a critical test this week amid anxiety in government bond markets over inflation and Donald Trump’s tax and spending plans. As the world’s most powerful central bank prepares for its annual Jackson Hole conference, analysts said bond traders would be looking for signals from Warsh over its commitment to fighting inflation...

The Guardian • 8/24/2026, 5:00:52 AM
power

Government vows to make business rate valuations for pubs and hotels fairer

Review will look at improving system for English and Welsh hospitality venues before next revaluation date in 2029 The government has promised that business rate valuations will be “made fairer” for pubs and hotels in England and Wales, as Andy Burnham faces growing calls to help the UK’s struggling hospitality sector. An independent review for England and Wales will look at improving the system for hospitality venues, which were hit by higher business rate bills this year after the end of pandemic-era relief and when new revaluations took effect...

The Guardian • 8/23/2026, 11:01:45 PM
business

UK productivity growing faster than official figures suggest, thinktank finds

Resolution Foundation suggests economy may finally be emerging from shadow of 2008 financial crisis Productivity in the UK – a vital measure of economic health – is growing more strongly than official figures suggest, according to analysis from the Resolution Foundation. The thinktank suggests the chancellor, John Healey, may have inherited an economy finally starting to emerge from the long shadow of the 2008 global financial crisis...

The Guardian • 8/23/2026, 11:01:45 PM
business

The lesson from Canada’s collapsed trade talks with the US: negotiation may be futile

Breakdown shows Washington now prioritises its own interests over any semblance of shared economic ground ‘No more!!!’: Trump lashes out after US-Canada talks devolve into trade war The calamitous collapse of trade negotiations between Canada and the United States is a warning to nations worldwide that pursuing any kind of dialogue with the current US administration is doomed at the outset, according to observers who say this recent episode indicates seeking a fair deal is futile. Andrea Lawlor, an associate professor of political science at McMaster University in Ontario, said: “No matter the closeness of the historical relationship, the American administration has signalled that it now prioritises its interests above those of some sort of global economic coordination or harmony...

The Guardian • 8/23/2026, 5:24:46 PM
business

Former Abercrombie CEO mentally fit for sex-trafficking trial, judge says

Michael Jeffries is ruled mentally competent to stand trial after being hospitalized for months for dementia symptoms The former CEO of Abercrombie & Fitch has been ruled mentally competent to stand trial as he faces sex-trafficking charges after being hospitalized for months for dementia and Alzheimer’s symptoms. Michael Jeffries, who is 82 and free on bond for now, is scheduled to be tried in late October, alongside two co-defendants: his partner Matthew Smith and staffer James Jacobson. A pretrial hearing was slated for Thursday...

The Guardian • 8/23/2026, 2:32:56 PM
business

The PM is promising to fix our everyday annoyances – and I have a list to get him started | Emma Beddington

Andy Burnham hopes we’ll forget the big stuff if he sorts out our minor frustrations and low-level gripes. Pothole politics hasn’t won me over yet, but I know some changes that could This is a vulnerable confession, but I spend way too much time on the social media of the New York City mayor, Zohran Mamdani. Whether he is seemingly effortlessly speaking Mandarin, hanging out with kids or charmingly accepting that he should wear a cycle helmet, the man with the million-watt smile is my antidepressant. (Even more vulnerable confession: I believe, irrationally, he is looking after my elder son, who lives there.) This means that I know all about Mamdani’s fight against what Business Insider recently deemed the “annoyance economy” – daily frustrations that make you poorer or drive you slowly, miserably mad. These include the absurd complexity of cancelling subscriptions; hidden fees; getting charged more for something you looked up last week, because of cookies; never being able to find a public toilet; and potholes. He has taken to responding when he gets tagged in people’s “Mamdani, fix this” posts to the point where Britons online are even jokily asking him to take on their problems...

The Guardian • 8/23/2026, 1:00:33 PM
business

Jumpy bond markets make it clear: Trump risks driving US into debt crisis | Heather Stewart

Treasury secretary Scott Bessent’s attempt to calm bond markets is a sign of weakness not strength “Look, there’s nothing magic about that $40tn number,” the US Treasury secretary, Scott Bessent, told CNBC insouciantly last week, as the country’s debt mountain surpassed another bleak record. Yet Bessent’s decision to intervene in government bond markets in an effort to combat soaring yields, belied his studied calm in TV interviews – and reignited fears the US may be on the road to a debt crisis...

The Guardian • 8/23/2026, 10:53:53 AM
business

US-Canada trade dispute escalates after Carney announces retaliatory tariffs

Canada and the US were closing in on a trade deal earlier this week until the negotiations fell apart. Both sides blame each other for last-minute changes to the terms. Canada’s Prime Minister Mark Carney has announced retaliatory tariffs on the United States after Washington imposed a 50 percent levy on 20-billion-dollars worth of Canadian goods. On Saturday, he addressed the nation for the first time since the talks collapsed, as Charlotte Lam explains.

France 24 • 8/23/2026, 9:02:22 AM
business

‘The line’s running half-empty’: Llanwern steelworks feels the heat from cheap steel imports

New quotas to protect UK firms and jobs appear to be having opposite effect in products such as galvanised steel At Tata Steel’s factory in Llanwern, south Wales, production lines that should be running full-time are now falling quiet for parts of the day, with workers being put on to maintenance and cleaning work while machines sit idle. There aren’t enough orders to keep them running all the time, the company says, because of a surge of cheap steel coming from Asian countries that is threatening the viability of several UK sites that make similar products, and risk hundreds of jobs...

The Guardian • 8/23/2026, 9:00:28 AM
technology

‘Pretty shambolic’: new EU border checks cause stress for UK travellers

Britons report that EES digital entry and exit system has led to frustration, visa mix-ups and long queues On top of fears about extreme heat and possible jet fuel shortages, Britons planning summer holidays in the EU this year had another thing to worry about – long queues and waiting times caused by the bloc’s new border checks. The EU digital entry and exit system (EES), which requires non-EU citizens to register and be photographed and fingerprinted on arrival and departure from the Schengen zone, has been technically in full force since April after launching last autumn, but has been beset by teething problems...

The Guardian • 8/23/2026, 7:00:26 AM
power

UK orders reviews of franchising sector after Vodafone allegations

Two studies will be used to shape government policy amid claims about a former franchisee who took his own life Ministers have commissioned a pair of in-depth reports into how franchising businesses are policed in the UK, as the government considers introducing new laws after high-profile allegations about conduct in the sector. The action follows a Guardian investigation last December, which revealed claims that Adrian Howe, a former Vodafone employee who had agreed to start a franchise in 2018, had taken his own life after pressure from the FTSE 100 telecoms group...

The Guardian • 8/23/2026, 7:00:25 AM
business

First Bus bans under-16s in Stoke-on-Trent travelling alone after 6pm after disorder

Company says decision comes after spate of antisocial behaviour since free travel scheme was introduced For some, it is a quotidian nuisance that inevitably occurs when you are in the vicinity of teenagers. For others, it is an expression of modern-day lawlessness among young people. Whatever view you take, antisocial behaviour on public transport has become a hot debate – and with the introduction of free bus travel for kids aged 5 to 15 across England during August, matters have come to a head in Staffordshire...

The Guardian • 8/23/2026, 7:00:25 AM
business

‘Friday afternoon fraud’: warning for UK homebuyers on bank scams

Victims have lost tens of thousands – and in one case £300,000 – due to fake emails from solicitor or estate agent You are poised to move house and are awaiting the solicitor’s instructions that things are ready to go and it is time to hand over your deposit. When the email arrives giving you their bank details, you set up the transfer and move the cash. And then the solicitor calls to ask where the money is. Conveyancing fraud involves criminals getting access to an email chain between homebuyers and their solicitors or estate agents and requesting payment to a bank account they control. Sometimes the solicitor has been hacked, but often the homebuyer has been the victim of a phishing exercise...

The Guardian • 8/23/2026, 6:00:24 AM
business

Drill, Burnham, drill? The oil basin that is a totem for Trump - and a headache for Britain’s new PM

North Sea oil, once the driving force of the UK economy, may be dwindling but it remains a symbol of prestige and a rich resource for political debate When oil was first discovered off the north-east coast of Scotland in September 1969, industry folklore has it that the duty superintendent on the rig carefully poured it into a pickle jar commandeered from the canteen and took it back to Amoco’s Great Yarmouth office in Norfolk. There, it was emptied into an ash tray, sniffed and then set alight. From that modest start, North Sea oil – as the huge basin of oil and gas reserves quickly became known – emerged as a driving force of the British economy and a symbol of national power and renewal as the UK emerged from the Opec oil crisis...

The Guardian • 8/23/2026, 5:00:23 AM
business

Heathrow expansion ‘is threat to England’s largest surviving medieval barn’

Exclusive: campaigners warn 600-year-old New Barn at Harmondsworth could be ‘shaken to pieces’ by vibrations Six hundred years after it was built, England’s largest surviving medieval timber-framed barn could now be “shaken to pieces” by aircraft vibrations, campaigners warn. The public has until 1 September to submit objections to the Heathrow airport expansion, which could threaten the survival of the New Barn at Harmondsworth, considered a remarkable example of medieval architecture...

The Guardian • 8/23/2026, 12:00:17 AM
business

Canada vows ‘dollar for dollar’ response as US puts 50% tariffs on some goods

Collapse of trade talks could lead to job losses, but biggest impact on traditional allies is expected to be political The US has imposed 50% tariffs on some goods from Canada, and the country’s prime minister, Mark Carney, has vowed to match them “dollar for dollar” after the collapse of trade talks. The tariffs came into force on around $20bn (£14.6bn) of goods – ranging from hockey sticks to tongue depressors – at 04.00 GMT. Trade experts said the tariffs could result in some job losses, but the largest impact is expected to be political, driving a further wedge between the traditional allies...

The Guardian • 8/22/2026, 2:04:57 PM
culture

‘Penchant for bling’: can Sports Direct’s Mike Ashley take a bigger slice of luxury retail?

Frasers billionaire bought Harvey Nichols and increased Hugo Boss stake despite tough times for high-end stores What billionaire doesn’t love to splash the cash on a luxury item? Some may buy watches or yachts, but Sports Direct founder Mike Ashley has been snapping up entire brands. Harvey Nichols is the latest bauble to drop into his shopping basket after his company bought the Knightsbridge department store out of administration earlier this month. It sits beside a large slice of Hugo Boss, a chunk of Mulberry, a snippet of Burberry, the remains of Agent Provocateur and the entire Flannels and House of Fraser chains...

The Guardian • 8/22/2026, 12:00:03 PM
business

Canada says will match new US 50% tariffs 'dollar for dollar'

The trade war between Washington and Ottawa is once again escalating. On Saturday, the US implemented 50% tariffs on certain Canadian goods, just hours after Donald Trump claimed he had a good relationship with his Canadian counterpart and that he thought a deal could be reached. The tariffs were initially set to go into effect on Wednesday but the US president gave negotiators three days to reach an agreement. Details by Eliza Herbert.

France 24 • 8/22/2026, 10:40:26 AM
business

Hook, hold, harvest and hide: Meta’s alleged strategy laid out in first week of landmark trial

In trial that opened on Tuesday, California and 28 other states accused the company of designing addictive sites and violating laws protecting children’s privacy Meta’s business can be boiled down to four words that begin with the letter H: hook, hold, harvest, hide, according to a lawyer who is prosecuting the world’s largest social media company. The owner of Facebook and Instagram “hooks” in users, “holds” them on its platforms for as long as possible, “harvests” their data and then “hides” the truth from the public, she argued...

The Guardian • 8/22/2026, 8:00:58 AM
power

Unions worry Labour’s plan for zero-hours contracts may break manifesto pledge

Leaders claim scaremongering from business figures may cause key legislation to become ‘meaningless’ Trades unions are warning Andy Burnham that Labour’s policy on cutting zero-hours contracts risks failing to live up to the party’s manifesto. Union leaders are seeking reassurances from the business secretary, Jonathan Reynolds, amid what the TUC has condemned as “scaremongering” from business groups...

The Guardian • 8/22/2026, 8:00:58 AM
business

Why am I called The Black Farmer? Because there are so few of us in Britain. I’d like that to change | Wilfred Emmanuel-Jones

Running a farm is tough – TV’s Clarkson’s Farm shows that – but I know many minorities would love the chance. And we would all benefit Who’d be a farmer? Clarkson’s Farm on Amazon is great entertainment but it also gives some indication of the stresses and challenges behind the farm gate. Would anyone who lacked the significant alternative income that Clarkson is lucky to have want that? Well, actually, yes. I’m an entrepreneur who owns a farm, as opposed to hands-on running the small one I bought 25 years ago, but as I look around the industry, I’m struck by a significant fact: the very reason I can be known as the Black Farmer is because I am such a rarity that it makes me readily identifiable...

The Guardian • 8/22/2026, 8:00:57 AM
business

‘The worst part is the guilt’: the owners who fear dog food caused pets’ eye problems

In the week that Years recalled all of its fresh meals, concerns grow about a potential link to dogs’ health conditions “It’s been horrible – Chester developed sudden red and gunky eyes in May,” said Elizabeth, whose six-year-old cavachon “can’t open his eyes” on many days. The 29-year-old civil servant is one of a number of people who contacted the Guardian because they are concerned about a potential link between a recalled dog food and their pet’s eye condition...

The Guardian • 8/22/2026, 7:00:57 AM
business

Battery fires at recycling centres are costing UK £1bn a year, figures show

Experts say fires caused by wrongly discarded lithium batteries, such as those in vapes, are putting lives at risk Fires at recycling centres caused by wrongly discarded lithium batteries such as those found in vapes are occurring at the rate of more than 10 a week, according to new figures. Experts say the sheer volume of battery fires now occurring at waste facilities has reached a crisis that is putting lives at risk, costing £1bn a year and frustrating fire chiefs...

The Guardian • 8/22/2026, 6:00:57 AM
business

‘It exists only for pleasure’: does ice-cream have a future in the age of wellness fads and weight-loss drugs?

As fitness-conscious consumers turn away from processed foods, the industry is scrambling for new ideas, including nutrient-rich lollies and protein-packed tubs. Will they take the fun out of this summer treat? Last month, I stood in the biggest ice-cream factory in Britain and watched a 5-metre Viennetta mint-flavoured ice-cream cake get made. The factory – which is owned by the Magnum Ice Cream Company and produces nine different brands of ice-cream – is based in an enormous building in Gloucester, where the air is thick with the scent of custard. I walked past the Twister and Solero sections on my way in, through clouds of tangy fruit, before arriving at the Viennetta assembly line, where everything smelled minty fresh. A Viennetta is built on a conveyor belt by a fully automated system, and watching it take shape was oddly hypnotic. Every few inches a nozzle attached to the belt squirted out a frilly layer of mint ice-cream, then another nozzle smoothed a flat layer of vanilla on top of that, then came a squirt of chocolate sauce, and it was back to frilly mint again. On and on it went, layer upon layer, popping out finished Viennettas at the end of the line at a rate of 200 cakes every 60 seconds. A slop bucket full of Viennetta overrun stood at the side of the conveyor belt and I fought a strong urge to squelch my fingers into it. Later, the factory operations manager allowed me to push my whole hand into the slop bucket up to the wrist and then lick my hand at a sink, before washing it and resuming the tour...

The Guardian • 8/22/2026, 5:00:57 AM
business

Tesla recalls nearly 3m vehicles in China over door handle safety risks

Recall comes after Chinese authorities said it would ban hidden car door handles commonly seen on Tesla models Tesla and other carmakers are making a major recall of more than 4m vehicles in China over safety concerns mostly related to their door handles, according to Chinese authorities on Friday. The US carmaker is recalling about 2.98m China-made and imported EVs including Model 3, Model Y, Model X and Model S over door-handle safety risks, according to China’s state administration for market regulation...

The Guardian • 8/21/2026, 11:48:16 PM
money

Jamie and Jools Oliver pay themselves £1.7m dividend as profits almost halve

Pre-tax earnings slump at chef’s food and media group after one-off costs including for a new cookery school Jamie and Jools Oliver have paid themselves a £1.7m dividend – more than 40% down on last year – after profits at their cookery and media empire almost halved. Sales at Jamie Oliver Holdings remained broadly steady at £28.4m in 2025, £160,000 less than in the previous year, as a strong performance at the group’s own restaurants, franchise business, cookery schools and TV productions offset a decline in royalties, licensing and endorsements...

The Guardian • 8/21/2026, 12:02:48 PM
business

Airbus bows to remote working demands after series of strikes

Aeroplane maker said to have watered down plans to restrict working from home to one day a week Airbus has reportedly bowed to employee demands on remote working, after a series strikes over its chief executive’s return-to-the office orders. The world’s largest aeroplane maker is said to have watered down plans to restrict remote working to one day a week from September. Currently, staff are able to work remotely for two...

The Guardian • 8/21/2026, 11:37:23 AM
business

In Senegal's Saint-Louis, traces of slave-trading past fade away

A dilapidated two-century-old building in Saint-Louis, Senegal bears testament to the island's little-known past as part of the transatlantic slave trade, the traces of which are quickly and quietly disappearing from view. Located in the country's north, between the Atlantic Ocean and the Senegal River, the island is rarely mentioned in the history of the slave trade, even though it was a hub through which tens of thousands of Africans passed.

France 24 • 8/21/2026, 9:50:38 AM
sports

Retail sales in Great Britain fall despite heatwave increasing food and drink demand

Volume of goods sold in stores and online dropped 0.5% in July, ONS says Business live – latest updates Retail sales across Great Britain weakened last month despite the men’s football World Cup and record temperatures boosting the demand for food and drink. The Office for National Statistics said the volume of goods sold in stores and online fell 0.5% in July. That is down from 0.7% rise in June – revised down from initial estimates of 1% – and a 1.3% rise in May...

The Guardian • 8/21/2026, 8:58:10 AM
business

UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget

July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlier The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget. City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments...

The Guardian • 8/21/2026, 6:34:11 AM
business

Retail sales fall despite World Cup and hot weather boosting alcohol and drinks trade – business live

Rolling coverage of the latest events in global financial markets, the economy and major corporate moves Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Retail sales fell in July after a bumper period the previous month, despite the World Cup luring punters into pubs and the hot weather boosting alcoholic drink sales in supermarkets. 7am BST: ONS retail sales data 7am BST: ONS public finances 9am BST: Flash PMI eurozone 9.30am BST: UK flash PMI 2.45pm BST: US flash PMI..

The Guardian • 8/21/2026, 6:24:22 AM
business

Back on track: can Burnham fix the north’s woeful rail services?

From a new high-speed line to better intercity links, the PM has a chance to tackle problems he criticised as Manchester mayor For passenger rail travel, the north of England was the future, once. But since that first train from Darlington to Stockton in 1825, many have felt short-changed. As one angry passenger put it, 200 years later: “What is it about the rail industry which makes them think they can treat passengers in the north as second-class citizens?” That complaint came from the former mayor of Greater Manchester, who frequently set out a different vision for the train services he would like. Now that Andy Burnham is in No 10, he has the opportunity to win those battles – or perhaps see them a little differently. For now, what unresolved issues could the railway expect to be pursued with greater urgency?..

The Guardian • 8/21/2026, 5:00:26 AM
business

Mark Zuckerberg buys 440-acre Strancally castle estate in Ireland

Meta chief executive paid roughly €20m for gothic-style mansion built in 1830 and its surroundings It stretches the definition of pied-à-terre but Mark Zuckerberg now has a pad in Ireland: Strancally castle. The Meta chief executive and his wife, Priscilla Chan, have bought the gothic-style mansion and its 178-hectare (440-acre) estate in county Waterford to use as a base during visits to Ireland...

The Guardian • 8/20/2026, 5:39:44 PM
business

Reform’s new economic adviser has called for end of pensioners’ triple lock

Exclusive: Mitchell Palmer has also argued for privatising the NHS and immigration as way of cutting poverty Reform UK’s new economic adviser has previously called the pensions triple lock unsustainable, advocated privatising the NHS and welcomed migration as a poverty alleviation tool, the Guardian can reveal. Robert Jenrick, Reform’s economic spokesperson, has appointed Mitchell Palmer, a rightwing economist at the free-market Adam Smith Institute, as one of his key aides...

The Guardian • 8/20/2026, 5:36:17 PM
business

JD Sports boss is still struggling to turn up the heat amid tepid trainer market

Latest profit warning is particularly disappointing in a World Cup year, which should have given the business a sporty buzz JD Sports cuts £50m from profit forecast as cost of living pressures hit trainer sales It was a slower quarter for “high-heat footwear product”, said JD Sports. It didn’t mean it was struggling to shift sandals during a heatwave. Rather, it was referring coyly to the big global trainer brands’ failure to come up with hot new designs. When Nike and Adidas, reckoned by City analysts to account for slightly more than half JD’s sales, are on tepid form, the self-styled “king of trainers” retailer usually is as well. The low-heat grumble will be familiar to JD’s shareholders. So, too, the one about “incremental cost of living pressures”, especially in the US. And the phrase “a promotional market” has appeared so often in the company’s updates in the past couple of years that it would be easier to tell us when discounting isn’t dominant...

The Guardian • 8/20/2026, 5:14:31 PM
money

Why is US bond market turmoil hitting governments worldwide? | Richard Partington

As yields are dragged higher in the UK, Europe and Japan, the impact for consumers and businesses will be far-reaching Government borrowing costs around the world have surged to the highest levels in decades amid growing fears over US bond market turmoil. Anxiety about Donald Trump’s handling of the US economy, and concern that the US president’s war with Iran is driving up inflation, are triggering a sell-off in the US bond market...

The Guardian • 8/20/2026, 4:14:59 PM
business

Specsavers pays £12m dividend to parent company after jump in earnings

Pre-tax profits rose at high street opticians to £429.7m in the year to February while sales rose 7% to £4.3bn Specsavers has paid £12m to its parent company controlled by founders Doug and Dame Mary Perkins after the high street opticians’ profits increased by more than a quarter. The group operates nearly 3,000 optometry, audiology and ophthalmology businesses globally in at least eight countries, including more than 1,200 in the UK, through hundreds of independent partners...

The Guardian • 8/20/2026, 3:55:13 PM
business

Lewes rail line to reopen in September as work under way to remove train

Derailed carriages lifted using two cranes as workers operate under ‘very challenging circumstances’ Business live – latest updates The East Sussex railway line on which a train derailed will reopen in September as crews continue to remove the carriages that left the track. Rail bosses said they were prioritising reopening the route before the end of the school holidays, despite recovery workers operating under “very challenging circumstances”...

The Guardian • 8/20/2026, 2:13:34 PM
culture

Amy Lee of Evanescence: ‘I could happily do an entire album of nothing but Portishead covers’

As her band hits the road, the metal trailblazer answers your questions on sexualisation in show business, finding inspiration in dreams and Spinal Tap moments on tour You wrote Bring Me to Life when you were 19. When you perform it now, how do you relate to the younger you? becgoldsmith I was in an abusive relationship, so Bring Me to Life was partly about processing the reality of that abuse and asking myself, what are you gonna do about it? Like, pick yourself up. I wrote it when I was crushing on my [now] husband, but the theme is about a quest for something bigger: opening your heart, finding more depth. It’s very empowering to perform it now in huge places; I’m very proud of the 19-year-old me that wrote it. Artists often reveal their influences through the songs they choose to cover. You’ve performed both It’s a Fire and Glory Box by Portishead. What drew you to those songs? VerulamiumParkRanger Beth Gibbons was one of my greatest vocal and musical inspirations. In the 90s when I was a young teen really feeling music I loved Portishead, Massive Attack and the whole trip-hop vibe. It was dark and cool, really different. Beth’s vocals have a way of teetering on an emotional crack, on the edge of wild, barely restrained emotion but never belting, which I always thought was so cool and enticing. I could happily do an entire album of nothing but Portishead covers...

The Guardian • 8/20/2026, 1:00:52 PM
business

Travelodge boss quits amid fallout over hotel chain’s security failings

Joanna Boydell steps down after widespread criticism over company’s handling of guest safety issues Business live – latest updates The boss of Travelodge has resigned after a backlash over security failings at the hotel chain, including a case where a domestic abuser was given a key to a woman’s room before assaulting her. In a company statement on Thursday, Travelodge said Joanna Boydell had stepped down and been temporarily replaced by its finance chief, Ray Reidy. The company has launched a formal search for a permanent substitute...

The Guardian • 8/20/2026, 12:47:18 PM
business

Boohoo fined €2.3m by French watchdog over deceptive discounts

Fashion site also broke rules on labelling by using terms ‘leather’ or ‘suede’ for synthetic products The British online fashion seller Boohoo has been fined €2.3m (£2m) by France’s consumer watchdog ⁠for deceptive ⁠practices ​such as offering fake discounts. The Manchester-based firm, whose parent company renamed itself Debenhams Group last year, was found to have exaggerated the discounts it was offering, giving shoppers a false impression ⁠of the savings they were making, ​according to the directorate-general for competition, ‌consumer affairs and ‌fraud control...

The Guardian • 8/20/2026, 12:40:04 PM
business

China: Robots box and dance at Beijing's 2026 World Robot Conference

More than 300 companies are displaying humanoid robots, industrial machines, service robots and other forms of embodied artificial intelligence at the Beijing's 2026 World Robot Conference. The five-day event kicked off on August 19, coinciding with Unitree's stock-market debut. The company, China's best-known humanoid robot maker, saw shares increase nearly six-fold on opening day. The conference comes as robotics emerges as a new front in the US-China rivalry.

France 24 • 8/20/2026, 12:37:36 PM
business

Has Trump no shame about all the money he has made since being in office? | Francine Prose

By now we know that charity, generosity and compassion are virtues that the US president doesn’t seem to have even in trace amounts Many years ago, in the crowded corridor of a Manhattan hotel, I was surprised to find myself standing face-to-face with Imelda Marcos, then the first lady of the Philippines. At that time, she was said to possess 3,000 pairs of shoes. I desperately longed to ask the wife of the dictatorial president Ferdinand Marcos why anyone could need all those shoes. And more importantly, why would someone spend so much of her country’s wealth on stiletto heels when so many citizens were so desperately poor? But natural reticence, good manners or simply fear prevailed, and I walked away...

The Guardian • 8/20/2026, 11:00:51 AM
business

Crypto bank part-owned by Trump family offers depositors way to ‘gain favor’ with White House, experts say

Democrats have called World Liberty Trust Company a stark example of corruption but officials claim there is no insider dealing Two fundamentals underpin the business model of a new crypto bank partly owned by the Trump family, cryptocurrency experts tell the Guardian. World Liberty Trust Company received conditional approval this month from the US office of the comptroller of the currency (OCC) to start a bank. An entity affiliated with Donald Trump and his family members owns about 38% of the company. The agency is led by a political appointee of the US president...

The Guardian • 8/20/2026, 10:00:49 AM
business

We are finally witnessing the decline of corporate Democrats | Robert Reich

Americans are backing progressives not because they want socialism, but because they want candidates who will fight for the working class Most discussions about the Democratic party in this election cycle focus on the remarkable rise of progressive Democrats, such as the Florida state representative Angie Nixon, a democratic socialist who scored an upset win in the Democratic US Senate primary on Tuesday. But an equally big story is the remarkable decline of corporate Democrats...

The Guardian • 8/20/2026, 10:00:49 AM
business

Sales of trainers dive as cost of living pressures hit JD Sports performance

Inflation deterring shoppers from spending, especially in the US, says sportswear fashion chain Sports fashion retailer JD has slashed its profit forecasts as cost-of-living pressures, fuelled by the US war on Iran, weighed on sales of trainers. JD Sports, which sells a range of sports brands including Nike and Adidas, said widespread inflation had hit shoppers’ wallets, resulting in falling sales across important markets such as the US, where it struggled to quickly shift trainers and other footwear...

The Guardian • 8/20/2026, 9:03:50 AM
business

Rising UK consumer confidence gives Andy Burnham ‘golden opportunity’, survey says – business live

BRC says confidence in economy hits highest level since the lows reached at start of Iran war In Germany, factory gate inflation hit a three-year high in July, adding to signs of fresh inflationary pressures in Europe’s largest economy. Prices charged by manufacturers for their goods, ranging from food to cars and tools, climbed 3% year on year last month following June’s 1.8% rise, Germany’s statistics office said. Economists had expected an increase to 2.7%. Conditions at the early stages of the inflationary surge have suddenly become uncomfortable. The war involving Iran is leaving its mark, as it the heat...

The Guardian • 8/20/2026, 6:55:26 AM
business

Oxfam ‘can’t guarantee future’ of charity shops as it also reviews warehouse business

Dwindling donations and stiff competition from secondhand sellers online prompt review but ‘no plans for closures yet’ Oxfam is reviewing the operations of its three warehouses in Batley, Bicester and Milton Keynes and says it “cannot give guarantees” on the future of its high street shops in a “difficult economic climate”. The charity said it had no plans to close warehouses or shops but insiders fear that Batley, which houses Oxfam’s main textile recycling centre, will shut as part of a cost-cutting drive because the West Yorkshire site’s lease is up for renewal...

The Guardian • 8/20/2026, 5:00:43 AM
culture

‘Are you ready for some filth?’ Julian Clary and more on comedy’s great smut explosion

Clary’s back with Fully Dilated, a burlesque star called Entendre Entendre is doing lewd singalongs and there’s an A-Z of very dirty words. Our writer investigates Edinburgh’s smut outbreak – and ends up getting his own fantasies turned into erotica On a street in Edinburgh, a woman I’ve only just met is quizzing me on my sexual fantasies. “Do you want softcore or hardcore? What positions do you prefer?” asks Cameryn Moore, a former phone sex operator turned playwright from the US, along with other, less printable, questions. Her business plan is simple: for £20, punters can tell Moore what turns them on. She will then bash out a piece of bespoke erotic fiction for them on her typewriter. “I listen to their content then spit it out on paper – no punctuation, very stream of consciousness,” she says. “I also offer to read it out loud to them – and they walk away grinning from ear to ear because nobody’s ever asked them what they like when it comes to sex. So that’s what I do every day at the fringe: sit down for four or five hours a day and crank out dirty shit.” She calls the service Sidewalk Smut...

The Guardian • 8/20/2026, 4:00:41 AM
business

The Guardian view on the Grenfell Tower fire: Britain is letting companies pass the buck | Editorial

Victims received less compensation than shareholders in the company behind its flammable cladding. Parliament must make corporations pay for harm caused There is something profoundly wrong when the company behind Grenfell Tower’s flammable cladding paid more compensation to its shareholders than to victims of the disaster. Of Arconic’s £86m in Grenfell-related settlements, all but £1.5m was covered by insurers. Hardly enough to make a multinational think again. The company whose product the inquiry found was the “primary cause” of the fire’s rapid spread has ended up paying only a fraction of the wider social cost, while the multibillion-pound bill for making hundreds of buildings safe falls largely on the state. In June 2017, 72 people – including 18 children – died in London’s Grenfell Tower fire. Almost a decade later, nobody has been criminally charged over its causes. It’s hard to conclude anything but that Britain’s system of corporate accountability is rotten. A new report by the thinktank Common Wealth and the financial investigations group FIND suggests putting right this state of affairs in England and Wales by adopting two changes that parliament could enact quickly. The first is a “failure to prevent” law that would make companies responsible for having adequate systems to prevent foreseeable serious harm. The second is to adopt a “punitive damages” approach. Rather than compensating victims for their loss, punitive damages ask what a company should pay for its conduct. Such an award against Arconic could have been used to meet the costs of remediation, the report says, “at no public cost”...

The Guardian • 8/19/2026, 5:58:57 PM
power

All power to the UK competition watchdog’s war on ‘drip pricing’

Competition and Markets Authority on message with PM’s planned purge of hidden fees and add-on charges Trainline, Virgin Atlantic and Red Driving School face investigation The Competition and Markets Authority (CMA) is on-message with Andy Burnham’s declaration of war on the small – and sometimes not-so-small – hassles and expenses of everyday consumer life created by companies’ underhand and misleading pricing tactics. Trainline, Virgin Atlantic and Red Driving School found themselves under investigation on Wednesday for various forms of alleged “drip pricing” – not being upfront about mandatory add-on charges, in other words. The prime minister had nothing to do with the CMA’s pursuit, it should be said. The watchdog’s “consumer protection drive” pre-dates his arrival and was encouraged by legislation under the last Tory government – the Digital Markets, Competition and Consumers Act of 2024, which gave the regulator “direct enforcement” powers, meaning it no longer had to go to court under consumer protection laws. And it is using those powers: eight cases were opened last November and driving schools AA and BSM plus the ticketing site StubHub UK have already been fined...

The Guardian • 8/19/2026, 5:39:16 PM
business

Is the US actually too chicken to take on China for trade?

A weak yuan guarantees Beijing massive trade surplus even as the White House tries tamp down on Chinese imports Since China offered a truce in the trade war last October following its threat to deprive the United States of rare-earth magnets, the Trump administration has been happy to stop escalating. After all, imports from China have been falling, down by 40% in the year to June, compared with the same period in 2024. Best to declare victory and call it a day. But the US hasn’t won this battle – and there’s strong evidence to show it’s too chicken to really try...

The Guardian • 8/19/2026, 4:42:08 PM
business

Zuckerberg lied about concern for child safety, Meta whistleblower testifies at landmark trial

Arturo Béjar, former Meta safety engineer, tells jury tech company was aware of products’ potential harm to children Meta has taken a “don’t ask, don’t tell” strategy when it comes to the safety of children on its social media platforms, according to a whistleblower who testified during a landmark trial against the company on Tuesday. He is slated to continue his testimony on Wednesday. Arturo Béjar, a former Meta safety engineer, told the jury that the company was aware of the harm its products caused children, which included its recommendations pushing content from sexual predators and violent and graphic images. He said he repeatedly raised the issue to various Facebook and Instagram executives but that they did little to resolve it...

The Guardian • 8/19/2026, 3:38:45 PM
money

US treasury doubles debt buyback to steady bond market amid inflation fears

Yields, at recent highs this week, dropped after treasury’s vow to ‘provide greater liquidity support’ to bond market The US treasury is doubling its buyback of government debt in an effort to balance out the bond market and counterbalance investor concern over high inflation. The yield rate on 10-year, 20-year and 30-year treasury notes all hit 20-year highs this week, with the 30-year treasury yield rising to its highest rate since 2007. The rapid rise was concerning news for borrowers as major loans, including mortgages, are backed by treasuries...

The Guardian • 8/19/2026, 2:57:21 PM
business

PA financial crisis: No budget for 'essential services' including infrastructure, education & health

Annette Young is pleased to welcome Joost Hiltermann, Special Adviser for MENA and training for the International Crisis Group. He sees the Palestinian Authority’s financial crisis not as an approaching emergency, but as an ongoing process of institutional and economic erosion. The PA has already lost much of its capacity to provide essential services, pay public-sector salaries in full, maintain infrastructure, and sustain education and health care. All the while, settlement expansion, settler violence and Israeli restrictions are occurring alongside financial measures that are threatening Palestinian institutions and economic life.

France 24 • 8/19/2026, 2:33:26 PM
technology

Did someone wearing Meta Glasses film you today? Are you sure?

People say they’ve been secretly filmed in their own home, at concerts and at work. Are the wildly popular smartglasses the final nail in the coffin of personal privacy? “I’ve had one person who told me that their intentions were creepy,” a man tells me over a video call, on condition of anonymity. He’s based in Los Angeles, and while we speak, he eats what appears to be tuna directly out of the can. “He said: ‘I go to strip clubs, and I want to record the strippers … Normally I put my phone in my chest pocket, but the glasses are more convenient.’” The man I’m talking to runs a business called Ghost Metas. He’s one of hundreds of vendors, easily discoverable online, who specialise in disabling the flashing LED light embedded in Meta’s smartglasses that blinks when wearers capture photos, videos and audio. After Ghost Metas disables the LED, it’s impossible for someone to know they’re being filmed...

The Guardian • 8/19/2026, 2:13:08 PM
business

Calls for urgent law change as UK’s largest water reuse system cannot be switched on

Recycling system in Cambridgeshire that could save thousands of litres a day is deemed not in line with rules The largest water reuse system in the UK, which could save thousands of litres of water a day for people living in one of the driest regions of the country, is not allowed to be switched on because of drinking water regulations. As water supplies in England reach critical levels, the Guardian can reveal that a model water recycling system within an urban housing development in Cambridgeshire has not been switched on since it was made ready in 2021...

The Guardian • 8/19/2026, 2:00:14 PM
business

Lewes derailment: images show track defect before incident on hottest day

Network Rail and Southern owner GTR apologise after investigators reveal picture of possible heat-buckled track Rail operators have apologised after a report into last Thursday’s train derailment in East Sussex found a “track geometry irregularity” on the approach to the site where the train derailed on the hottest day of the year so far. An interim report by the Rail Accident Investigation Branch (RAIB) said CCTV images showed the fault existed before the incident occurred near Lewes, injuring 30 people...

The Guardian • 8/19/2026, 1:33:07 PM
business

Chinese carmaker Chery to set up UK research centre

Manufacturer, which makes Jaecoo and Omoda brands, will open facility in Bedfordshire in autumn The Chinese carmaker behind the irreverently nicknamed “Temu Range Rover” is plotting further UK expansion with a major research and development centre in England. Chery, which makes the Jaecoo and Omoda car brands, said the launch of a new R&D site was “the next step in our long-term plan” for Britain as it also moves towards manufacturing its cars in the UK...

The Guardian • 8/19/2026, 12:46:40 PM
business

Dog food recalled after reports of pets losing their sight

Move by Years, which provides personalised meals in subscription-based service, follows recipe change A dog food brand has recalled all of its fresh meals after reports that a recipe change may have caused some animals to develop an eye condition that, if left untreated, can lead to sight loss. Years said owners should stop feeding its fresh meals to their dogs “immediately” and also told them not to feed the meals to any other animal, or to donate or sell them...

The Guardian • 8/19/2026, 11:03:02 AM
business

Trainline, Virgin Atlantic and Red Driving School investigated over hidden ticket fees

UK competition watchdog investigation is part of broader clampdown on illegal ‘drip pricing’ Business live – latest updates The UK’s competition watchdog has launched investigations into Trainline, Virgin Atlantic and Red Driving School over concerns that all three companies displayed misleadingly low prices to their customers. The Competition and Markets Authority’s investigations are part of a broader clampdown on “drip pricing”, an illegal practice that makes a product appear cheaper by not including all mandatory fees...

The Guardian • 8/19/2026, 8:50:13 AM
business

Rising inflation underlines scale of Andy Burnham’s cost of living challenge

PM’s plan to shield households from more pressure risks being overwhelmed by wider price rises UK inflation rises to 2.9% Business live – latest updates July’s increase in inflation, to 2.9%, is likely to be the first of several, underlining the challenge facing Andy Burnham in shielding consumers from a fresh cost of living squeeze this autumn. Rising energy bills, as an increase in Ofgem’s quarterly price cap came into force, were the main driver of the jump in inflation, from 2.6% in June...

The Guardian • 8/19/2026, 8:40:35 AM
business

UK inflation increases in July driven by a surge in gas costs; oil prices rise again – business live

Brent crude approaches $92 a barrel; Asian shares slump after Wall Street chip sell-off Good morning, and welcome to our rolling coverage of the global economy, the financial markets, the eurozone and business. It’s UK inflation day! 9.30am BST: UK Private rents and house prices for July 8.10am BST: European Central Bank president Christine Lagarde speaks 10am BST: Eurozone inflation final for July 7pm BST: US Federal Reserve minutes of last meeting..

The Guardian • 8/19/2026, 6:12:54 AM
business

UK inflation rises to 2.9% as Iran war fuels living costs squeeze

Higher energy costs push up CPI but jobs slowdown could deter Bank of England from raising interest rates UK inflation rose to 2.9% in July as the impact of the Iran war on energy prices triggered a renewed cost of living squeeze for British households. Underscoring the challenge for Andy Burnham’s government to give “breathing space” to hard-pressed consumers, the Office for National Statistics said inflation rose from 2.6% in June...

The Guardian • 8/19/2026, 6:01:13 AM
business

Trump hits pause on Canada tariffs threat, and hints at revival of Keystone XL oil pipeline project

US president delays 50% tariffs by three days, and says contentious oil project ‘may be awoken from the grave’ Canada has temporarily avoided a bruising 50% US tariff, reaching a Tuesday evening agreement with Trump officials, hours before a hike that would have affected $20bn worth of goods was set to take effect. Trump posted late Tuesday on social media that he had paused the tariffs for three days “based on the fact that Canada and the USA, subject to the finalization of documents, have a DEAL!”..

The Guardian • 8/19/2026, 3:12:07 AM
technology

‘Can’t enjoy your pint’: Wetherspoons customers welcome ban on loud phones

Patrons at two of the chain’s London pubs were all for Tim Martin’s ban on playing music or taking calls on speaker The terrace of the Moon Under Water Wetherspoons pub in Leicester Square was full of people enjoying the warm weather and chatting between tables – without a TikTok video or speakerphone call in earshot. At Wetherspoons, the convivial atmosphere can no longer be punctuated by rude customers taking phone calls on blast, or playing videos without headphones after Tim Martin, the owner of the pub chain, banned both actions on his premises...

The Guardian • 8/18/2026, 5:32:31 PM
climate

Ministers are waking up to Britain’s gas supply risks. It’s time for decisions

Despite declining consumption, the country will still need lots of gas in coming years but solutions aren’t forthcoming UK risks running out of gas by 2030s, ministers told The penny is dropping in government. Britain, even in rapid energy transition mode, will still need a lot of gas in the years ahead – and needs to know how the gas will arrive. It could hardly be otherwise when there are 24m households with a gas connection, largely for heating, and the pace of heat pumps adoption is miserable. Last year gas comprised about a third of the UK’s overall energy needs. Though annual consumption is in decline, the days of peak use during a bleak midwinter can still be as high as ever...

The Guardian • 8/18/2026, 5:30:47 PM
money

Chelsea’s boardroom rift: if Boehly goes who will Clearlake have left to blame? | Sam Cunningham

Despite another reset with a new manager and fresh strategy, the boardroom drama persists at Stamford Bridge Perhaps, in hindsight, it was always going to end this way. As some of the world’s wealthiest investors scrambled to find funds after Vladimir Putin’s invasion of Ukraine set a series of dominoes toppling that forced Roman Abramovich to sell Chelsea, it threw together some unexpected allies. Todd Boehly became the public face of the winning bid, convincing US sports mogul Mark Walter and Swiss businessman Hansjörg Wyss to join as 12.8% minority investors. Private equity firm Clearlake Capital put in 61.6%, bringing owners Behdad Eghbali and José E Feliciano, who made their fortunes investing in tech, into the leadership fold...

The Guardian • 8/18/2026, 4:53:13 PM
business

‘A feudal relationship’: Stonegate Pub Partners under scrutiny after complaints of tenant mistreatment

UK’s largest pub company with the lowest satisfaction rating accused of entrapping landlords into financial loss situations “We’re pleased to welcome Stonegate Pub Partners as a sponsor for the Great British Pub Awards 2026” read a post on the event’s Facebook page. Within minutes it had backfired. “Must be 1st April again,” said one commenter. “This is like Pontius Pilate being appointed child welfare ambassador,” said another. Other comments about the UK’s largest pub company were significantly less polite...

The Guardian • 8/18/2026, 2:22:25 PM
technology

Ikea to take on eBay and Vinted with UK online secondhand site

Platform set to launch later this year will enable loyalty card members to sell preloved Billy bookcases and Poäng chairs Business live – latest updates Ikea is taking on eBay, Facebook Marketplace and Vinted with its own secondhand selling site in the UK. The new platform, which will enable shoppers signed up to the Swedish company’s membership scheme to connect directly to one another to buy and sell pre-owned Ikea items locally, is due to launch in the next few months...

The Guardian • 8/18/2026, 1:49:21 PM
science

The ultra rich are collecting fossils. And that’s bad for science - video

One of the UK’s best fossil collections has been sold overseas in what experts have called a loss to the nation. The collection, which is now on display at the Natural History Museum in Abu Dhabi, was gathered on Dorset’s Jurassic Coast. As dinosaur fossils sell to private collectors for increasingly large sums, scientists are worried that domestic museums are being priced out of the market, and in turn scientists are missing out on the opportunity to make new observations. To find out how fossils became big business and what it could mean for research, Madeleine Finlay hears from science correspondent Nicola Davis..

The Guardian • 8/18/2026, 1:44:08 PM
climate

UK risks running out of gas by 2030s, ministers told

Government assessment warns of supply shock that could leave homes and businesses without gas within a decade Great Britain risks running out of gas in the 2030s despite its growing clean energy sources, unless ministers take “unprecedented” action to guard against a future gas supply shock, according to an official assessment of the country’s gas security. The government is considering plans to provide direct financial support to safeguard the country’s ageing gas infrastructure after a consultation found that a “high stress scenario” could mean homes and businesses run out of gas within the next decade...

The Guardian • 8/18/2026, 1:34:12 PM
business

Labour urges Gambling Commission to investigate firms linked to Reform UK donors

Bridget Phillipson writes to watchdog asking it to look into claims Tether.bet and Fispay operated without a licence The Gambling Commission has been urged to investigate claims that companies linked to Reform UK donors and allies of Nigel Farage have been operating without a licence. The Labour party’s chair, Bridget Phillipson, has written to the watchdog asking it to look into Tether.bet, a Montenegro-based gambling company, and Fispay, a UK company owned by Reform’s data protection officer, Mowbray Jackson. Whether Tether.bet, and its operators, provided or advertised remote gambling facilities to consumers in UK without the required licence Whether Fispay Ltd, or any other UK company, provided or supported gambling facilities or services to consumers in the UK without the required licence.”..

The Guardian • 8/18/2026, 1:30:49 PM
power

Governments’ borrowing costs hit further multi-decade highs as US-Iran peace hopes fade

Bond yields in US, UK, Germany France and Japan rise after ceasefire ends and Trump threatens to bomb Oman Business live – latest updates Government borrowing costs in several advanced economies continued to rise to levels not seen in decades on Tuesday, as hopes of an end to the US-Iran war faded. Concerns about the inflation outlook worsened after the ceasefire between Washington DC and Tehran ended on Monday night without an agreement, with no progress on the reopening of the strait of Hormuz...

The Guardian • 8/18/2026, 10:54:43 AM
business

‘Come fetch your people’: 300 anti-migrants protesters call out to SADC leaders

South Africa hosted a gathering of leaders from the southern African regional bloc amid xenophobic violence and anti-migrant protests. As the continent’s wealthiest country, South Africa has long attracted migrants, but it faces an unemployment rate of over 30 percent and deep-seated inequalities. Pretoria has called for a continent-wide conference on the issue of migration. Details by Eunice Masson, FRANCE 24 correspondent in Cape Town.

France 24 • 8/18/2026, 10:38:45 AM
business

‘Picky bits’ on the menu as British shoppers snap up picnic food in heatwave

Consumers also turn to supermarket deals to save money, helping slow grocery price inflation Business live – latest updates Shopping baskets took on a decidedly summery complexion during last month’s heatwaves as consumers filled up on a British picnic staple: picky bits, and grocery inflation slowed. Spending rose on foods such as potato salad, olives and coleslaw, while ice-cream sales also increased, according to new data from Worldpanel by Numerator, a market research company...

The Guardian • 8/18/2026, 10:29:58 AM
business

Sports Direct owner Mike Ashley tightens hold on Hugo Boss

Frasers Group increases stake in German fashion house to 48%, after buying Harvey Nichols chain last week The retail billionaire Mike Ashley has given the latest indication that his summer shopping spree may be far from over, after he increased his stake in the luxury giant Hugo Boss to nearly half. Ashley’s Frasers Group, which last week bought Harvey Nichols department stores for a reported £40m, increased its shareholding in the German fashion house to 48%, falling short of taking full control. In June, the British billionaire made a nearly €2bn (£1.73bn) takeover offer for the luxury group, but its board rejected Frasers’ bid as “inadequate” and urged shareholders not to accept Ashley’s offer. The new, higher stake is a result of 17.6% of shareholders accepting Ashley’s offer, which amounted to €38 a share. That bid reflected only a 4% premium to Hugo Boss’s shares when it was tabled. Axel Rudolph, an analyst at the investing platform IG, said it was “another major step towards gaining control” of Hugo Boss. Ashley’s new shareholding puts Frasers “firmly in the driving seat as it looks to increase its influence”, he added...

The Guardian • 8/18/2026, 8:49:21 AM
business

Cooling UK labour market ‘questions need’ for Bank of England rate hikes; grocery inflation slows to two-year low – business live

Brent crude climbs above $91 a barrel as US-Iran ceasefire ends Grocery inflation in the UK has slowed to the lowest rate in almost two years, bringing some relief to households, a monthly survey shows (ahead of tomorrow’s official inflation data). Inflation at supermarkets and other grocers eased for a fifth month, to 2.1% in the four weeks to 9 August – the lowest since October 2024, according to Worldpanel by Numerator. With inflation slowing again, this marks the fifth consecutive month of easing prices. Shoppers are feeling the relief with 39% now feeling financially comfortable, marking the highest level of financial confidence since November 2021. But it’s by no means the same picture for all, with 20% reporting that they are struggling, and this has a clear impact on spending decisions. Among these households, 30% are more likely to prioritise grocery essentials over additional summer spending such as holidays and travel. The continued heat across the UK has certainly impacted the way people are eating and drinking. Earlier this summer we saw that mealtimes were being pushed later in the day, with 13% of evening meals now eaten after 8pm. Shoppers have been trying to stay cool this month, with soft drinks growing 15.1% in spend, while the freezer aisle saw shoppers stocking up on ice cream, sorbet and frozen fruit to beat the heat. A brighter spot was that the rate of youth unemployment came down to 16.2% in June. This is relatively good news, but the data are volatile and so we would perhaps not place too much weight on one month’s data. Moreover of course this is a high level, which has climbed by over 2.5 percentage points over the past two years. It’s encouraging to see signs of progress in the latest figures, with employment on the up and a continued fall in unemployment rate. We will continue to reform welfare and employment support so that more people can live independently and restore opportunity across the country...

The Guardian • 8/18/2026, 8:06:25 AM
world

Fake troops loot earthquake-hit homes in Japan’s Kumamoto

Men in military fatigues identical to those worn by Japan’s Ground Self-Defence Forces (SDF) are reportedly prowling evacuated communities in Kumamoto prefecture to loot abandoned homes and businesses in the aftermath of last month’s earthquake. An official at the prefectural government confirmed media reports of “fake SDF personnel” attempting to enter properties in affected areas, although she said the authority’s immediate priority was still to find shelter and provide food and medical care...

South China Morning Post • 8/18/2026, 7:58:57 AM
culture

Wetherspoons pubs ban playing music or taking calls on phone speakers

Chain tells customers to ‘pipe down’ and use earphones instead, calling its venues ‘an oasis of tranquillity’ The pub chain Wetherspoons has banned customers from playing music or taking calls on speaker after growing complaints about the noise. The company announced it had introduced the ban across its 792 pubs, saying sounds from smartphones and tablet computers had become an “increasing problem in recent years”...

The Guardian • 8/18/2026, 7:10:58 AM
power

Oil prices jump after US-Iran ceasefire expires and Trump threatens Oman

Brent crude rises above $90 a barrel for the first time since 30 July after US president tells Tehran to surrender Business live – latest updates Oil prices have risen again after the two-month window to negotiate a peace deal in the US-Israel war on Iran expired on Monday with no end to the conflict in sight. Iran said on Monday that it would take a more aggressive stance if talks with the US failed, while Donald Trump demanded Tehran “put up the white flag of surrender” in an interview with Fox News...

The Guardian • 8/18/2026, 7:04:12 AM
business

US states take on Meta in pivotal trial over child social media addiction claims

State attorneys general allege that tech company intentionally designed addictive products that harm young people More than half of the states in the US have joined together in an unprecedented lawsuit against Meta that goes to trial on Tuesday, accusing the parent company of Instagram and Facebook of deliberately designing addictive products that lured in young people and caused them harm. The jury trial is taking place in federal court in Oakland, California, and is expected to last between six and eight weeks. The jury is expected to hear from Meta CEO Mark Zuckerberg, Instagram CEO Adam Mosseri and employee turned whistleblower Arturo Béjar...

The Guardian • 8/18/2026, 7:00:17 AM
business

UK pay growth slows as Iran war prompts cost of living squeeze

Unemployment rate remained at 4.9% in the three months to the end of June, ONS figures show Wage growth in the UK slowed in June as workers come under pressure from a renewed cost of living squeeze amid the economic impact from the Iran war, official figures show. Figures from the Office for National Statistics show average growth in total earnings, including bonuses, fell to 4.1% in the three months to June, down from 4.3% in the three months to May. City economists had forecast a larger fall to 4%...

The Guardian • 8/18/2026, 6:34:20 AM
power

Half of homes in Great Britain taking longer to sell than last year amid mortgage volatility

Many buyers wait in hope of better deal, although there are hotspots in Scotland and northern England Half of homes in Great Britain are taking longer to sell than last year as volatile conditions in the mortgage market amid the Iran war prompt buyers to “wait and see” if they can get a better deal, according to a report. As the Middle East conflict continues to unfold, the property platform Zoopla said homes in 180 out of 363 local authorities in England, Scotland and Wales were taking longer to sell compared with a year ago...

The Guardian • 8/18/2026, 5:00:15 AM
business

China’s economy showing signs that slowdown may be extending

Industrial output and retail sales slump in July after one of the country’s weakest quarterly growth rates ever China’s economy is showing signs of extending a slowdown with a slump in industrial output and retail sales in July, adding to pressure on Beijing to intervene with measures to support activity. After the world’s second largest economy posted one of its lowest quarterly growth readings on record in the three months to June, the latest figures suggest it continued to falter in July...

The Guardian • 8/17/2026, 3:36:25 PM
business

Leading economies’ borrowing costs hit highest since 2008 crisis

Concern over impact of Iran war pushes up government bond yields in US, UK, France, Germany and Japan Government borrowing costs in several advanced economies hit their highest level since the 2008 financial crisis, or even earlier, on Monday, as investors feared the Middle East crisis would keep inflation persistently high. Concerns over rising prices, and government spending, pushed up the cost of debt issued by Paris, Berlin, Washington DC, Tokyo and London, as investors fretted that rising prices would push up interest rates...

The Guardian • 8/17/2026, 3:13:40 PM
business

JP Morgan boss Jamie Dimon warns UK chancellor not to hike taxes on banks

Billionaire CEO of world’s biggest bank says any windfall tax on sector’s bumper profits could harm jobs in City Business live – latest updates Jamie Dimon, the boss of the US bank JP Morgan, has urged John Healey not to use his first budget as chancellor to increase taxes on banks’ bumper profits. Speculation has been growing that a windfall tax could be imposed on UK lenders to fund Andy Burnham’s cost of living agenda, with campaigners estimating such a move could raise £19bn...

The Guardian • 8/17/2026, 12:26:33 PM
business

Senior Russian banker fired after scathing speech on wartime economy

Andrei Klepach of VEB said Russia’s economy was falling behind China, US and ‘in some respects Ukraine’ Europe live – latest updates The chief economist at Russia’s second-largest bank has been fired after a series of critical comments about the state of the economy, including warnings that Moscow would not win a prolonged economic war with Ukraine. Andrei Klepach, who had served in the role at the state-controlled development bank VEB since 2014, was fired days after Russian media reported on a scathing speech he had delivered to fellow economists in May...

The Guardian • 8/17/2026, 10:29:58 AM
business

Virgin Trains gets go ahead to run services to Europe in new blow to Eurostar monopoly

Operator wins track access approval for up to 20 daily return trains through tunnel to Paris, Brussels and Amsterdam in 2030 Virgin Trains has been granted track access by the rail regulator to run new services between London and Paris, Brussels and Amsterdam in 2030, in a step forward for its plans to break’s Eurostar’s passenger monopoly on the cross-Channel route. The Office of Rail and Road (ORR) said it had granted approval for Sir Richard Branson’s company to run up to 20 new daily return services through the Channel tunnel...

The Guardian • 8/17/2026, 9:15:03 AM
power

Massive Attack and Paris Paloma join musicians urging Burnham to reject new North Sea drilling

Brian Eno and Olly Alexander also among signatories saying exploitation of Rosebank and Jackdaw fields defies reality More than 200 musicians including Massive Attack and Brian Eno have written to Andy Burnham, urging him to reject plans for more oil and gas drilling in the North Sea. The letter, signed by artists such as Olly Alexander and Paris Paloma, called on the prime minister to reject the Rosebank oilfield, warning the project will fail to lower energy bills or provide energy security as most of the oil is likely to be exported...

The Guardian • 8/17/2026, 9:00:50 AM
business

My generation had no voice on Brexit – but Burnham gives the young fresh hope on Europe | Ceira Sergeant

Brexit didn’t create all the problems young people now face, but renewing close ties with Europe will give us so many opportunities I was 14 when the UK voted to leave the EU. Too young to vote, but not too young to understand that a decision was being made that would affect the rest of my life. In many ways, Brexit was my political awakening. It taught me that politics matters, because decisions made by people in power can change your future before you’ve even been given a say. Ceira Sergeant is a student and the founder of National Rejoin March Youth..

The Guardian • 8/17/2026, 7:00:48 AM
business

Biggest August fall in British house prices since 2018; Dimon warns UK against higher bank taxes – business live

British house prices expected to fall this year, despite ‘Burnham bounce’, Rightmove reports Asking prices for newly listed homes in UK’s richest borough fall by £100k in one month Elsewhere this morning, the boss of JP Morgan has renewed his pressure on the UK government not to raise taxes on banks. Jamie Dimon told chancellor John Healey that creating a more hostile tax environment for banks could cost jobs, the Financial Times reports. The Wall Street executive told Healey in a call on Thursday that higher taxes often drive jobs elsewhere, citing a material decline in finance roles in New York that he attributed in part to the city’s tax burden, according to people briefed on the conversation. “The new Prime Minster has brought a general boost to optimism and has ruled out property tax changes in October’s Budget, meaning buyers have fewer reasons to wait around and see what happens.”..

The Guardian • 8/17/2026, 6:37:59 AM
business

Asking prices for newly listed homes in UK’s richest borough fall by £100k in one month

Fierce competition in some areas of London means landlord purchasers are making successful lowball offers The average price of a home coming up for sale in Britain’s richest borough has dropped by almost £100,000 in a month as fierce competition among sellers in many areas prompts some to slash their price expectations, data shows. The property website Rightmove said that for Britain as a whole, average newly listed asking prices for homes had fallen by 2% over the past month, the largest August price drop in eight years...

The Guardian • 8/17/2026, 4:00:46 AM
culture

Summer jobs bounce back in UK thanks to busy calendar of sport and music

Industry tracker finds ‘exceptionally warm weather’ has helped boost job listings in hospitality and tourism sector The summer job has staged a comeback this year thanks to the hot weather and a packed calendar of events such as the men’s football World Cup, new UK figures show. Recent months have seen a significant increase in seasonal hiring in sectors such as hospitality and tourism compared with summer 2025, said the Recruitment and Employment Confederation (REC), which runs a monthly labour market tracker...

The Guardian • 8/16/2026, 11:01:38 PM
climate

Water companies in England and Wales explore ‘surge pricing’ bills during drought

Suppliers could factor water scarcity into charges as part of Ofwat proposal to reduce consumption Water companies could be allowed to raise bills for customers during periods of drought under proposals being considered by the sector’s regulator for England and Wales. Suppliers would be permitted to factor “water scarcity” into bills as part of efforts to reduce consumption under Ofwat’s plans, which are being likened to surge pricing – the practice where private hire firms raise taxi fares at times of higher demand...

The Guardian • 8/16/2026, 4:28:00 PM
business

Interest rate dilemma for central banks as inflation rises but growth slows

The Federal Reserve, the ECB and the Bank of England appear unclear on how to tackle inflation amid the Iran war New UK cost of living crisis looms as rising energy bills lift inflation Inflation rates have been falling across the industrialised world, but fears that the Middle East war will raise oil prices means central banks are sitting on their hands when they should be raising interest rates to subdue inflationary pressures. The US Federal Reserve, the Bank of England and the European Central Bank are still smarting from the criticism of their inaction in 2022 when inflation soared above 10% in the UK and eurozone, and over 9% in the US...

The Guardian • 8/16/2026, 2:00:27 PM
business

Burnham urged to crack down on gig economy firms to protect 4m workers

Exclusive: Campaigners say millions are missing out on key rights including sick pay and protection against unfair dismissal Andy Burnham is being urged to protect 4 million gig economy workers by prosecuting companies that use widespread “bogus” self-employment practices to deny people their rights. As the prime minister fleshes out his agenda, the Fabian Society and the Joseph Rowntree Foundation have warned that millions of workers are missing out on key statutory rights including parental leave, redundancy pay and protection against unfair dismissal...

The Guardian • 8/16/2026, 11:29:41 AM
business

A positive new report raises the question: was Reeves undermined by dodgy data? | Heather Stewart

Assessment that has found a jump in UK productivity emphasises urgent need to appoint a national statistician Keen new chancellor, John Healey, responded to last week’s better-than-expected economic news by claiming the government is “bringing hope back”. Growth did not plunge as feared after Donald Trump unleashed war on Iran – with GDP expanding at a pretty decent 0.4% in the second quarter. But what if we should have held on to a bit more hope all along? A new assessment of the UK’s recent productivity suggests this critical measure of the country’s economic strength may have been systematically underestimated...

The Guardian • 8/16/2026, 9:30:05 AM
culture

University spinout to launch water quality app for UK and US waters

Molendotech will collate data from daily tests that detect E coli and other bacteria amid reports of swimmers falling ill A UK university spinout behind a rapid bacterial water testing kit is planning to launch live water quality maps, as scores of beachgoers report falling ill after swimming. Molendotech, a spinout from the University of Plymouth, sells a portable test that detects E coli and other bacteria in water and delivers results on the spot, without waiting for days to get laboratory results...

The Guardian • 8/16/2026, 9:00:22 AM
business

From tourism to power generation and productivity, Europe feels economic cost of heatwaves

Low river levels have stalled German freight traffic and forced closure of nuclear plants in France Across Europe this scorching summer, workers have struggled in the heat as wildfires raged and critical infrastructure was shut down. Here we look at the impact of the heatwaves on several major economies across mainland Europe – with the help of analysis from economists at the Dutch bank Triodos, who estimate a total of €180bn could be wiped off EU GDP by the heatwaves. In the UK, the green thinktank Verdant said this week that the heat had already cost the economy £4.4bn by the end of July...

The Guardian • 8/16/2026, 8:00:19 AM
business

New UK cost of living crisis looms with soaring energy bills forecast to lift inflation

Latest reading on Wednesday likely to frame scale of challenge for new PM to ease pressures on households amid Iran war fallout British households are facing a renewed cost of living squeeze, with official figures expected to show this week that soaring energy bills drove up inflation in July to close to 3%. As the Iran war continues to send shock waves through global energy markets, economists predict the surge in UK gas and electricity bills last month will push Britain’s headline inflation rate to 2.9%...

The Guardian • 8/16/2026, 5:00:16 AM
business

‘Strategic change and grasping nettles’: where now for John Lewis as boss exits?

Peter Ruis appeared ‘to be doing a good job in difficult circumstances’ at department store chain, says analyst “Going up?” After a tough week for department stores it feels as if that sales aspiration is as dated as the singsong phrase in the opening credits of Are You Being Served? Simpsons of Piccadilly, which inspired the fictional Grace Brothers department store in which the 1970s TV sitcom was set, is long gone, and several of its modern equivalents are now fighting oblivion. The boss of John Lewis, Peter Ruis, clearly decided it was time to exit the elevator this week, announcing his abrupt departure from the UK’s biggest department store chain in a surprise statement. Days later, Harvey Nichols, the luxury Knightsbridge store that was once a byword for 1990s chic, was bought out of administration for a knock-down price by the owner of Sports Direct, Mike Ashley’s Frasers Group...

The Guardian • 8/15/2026, 2:00:01 PM
business

Met apologises for exposing 143 email addresses of Mohamed Al Fayed victims

London police force tells Telegraph incident was result of ‘human error’ and it is conducting an investigation The Metropolitan police have apologised for accidentally exposing the email addresses of more than 140 victims of Mohamed Al Fayed. In a group update about its investigation into the former Harrods owner, the force copied the email addresses of 143 victims of Fayed in a message that included about 12 other recipients, the Telegraph reported...

The Guardian • 8/15/2026, 12:22:47 PM
business

UK’s biggest EV battery gigafactory shelves expansion as Jaguar Land Rover talks stall

Chinese-owned AESC has pushed back plans in sign of slowing transition from petrol and diesel to electric cars Andy Burnham moves to cut new EV sales targets The UK’s biggest gigafactory has shelved plans to expand production in Sunderland because of stalled talks on a deal to supply electric car batteries to Jaguar Land Rover. Chinese-owned AESC produces batteries for Nissan at its gigafactory next door to the Japanese carmaker’s Sunderland plant. However, AESC has had to push back its ramp-up plans because of lower-than-expected demand from Nissan and the lack of a deal with JLR, according to people with knowledge of the situation...

The Guardian • 8/15/2026, 11:00:54 AM
power

Donald Trump doesn’t just love billionaires, he loves multimillionaires too

US tax policy deprives the government of revenue and overwhelmingly serves the interests of the rich After the House passed its version of Donald Trump’s One Big Beautiful Bill Act (OBBBA) last year – the one that paired a $5tn-plus tax cut with $1tn-plus of cuts from food stamps and Medicaid – the House speaker, Mike Johnson, explained that “this is not giving tax cuts to the millionaires”. The beneficiaries, he said, were “small business owners” that “provide the jobs in every community in America”. Johnson was playing to the myth of the modest, sturdy Main Street job creator. It is an appealing story. It’s also the most consequential piece of BS distorting American policy that deprives the government of tax revenue, stunts American capitalism, twists regulations, thwarts competition and overwhelmingly serves millionaires’ interests...

The Guardian • 8/15/2026, 10:00:54 AM
business

‘I don’t even drink whisky’: Scotland reels in visitors as much of Europe swelters

More direct flights from North America and, say tourism chiefs, Highland warriors and Tartan Army have helped For the tourist industry, 2026 has been a rocky year, with war, EU border delays, climate and economic woes gnawing away at holiday plans. But while much of Britain is feeling the loss of visitors from the Middle East and beyond, one part is thriving. Scotland is reeling in ever more visitors, with strong annual growth and a 15% rise in flight bookings to Scottish airports in June and July, compared with a drop in bookings to London and the rest of England in recent months, according to VisitBritain figures...

The Guardian • 8/15/2026, 9:00:52 AM
technology

No 10’s ads for a TikTok team show why social media is a smart career move

The Guardian’s deputy editor of social platforms on the demand from high-profile people and brands for help in harnessing the power of TikTok I didn’t want to work in social media. If you’d asked 15-year-old me my dream job, I might have said foreign correspondent, or maybe travel writer. So you can imagine my surprise to now find myself giving these very colleagues advice on how to get the best selfie angle or write the sharpest TikTok ‘hook’. But taking a job as the Guardian’s deputy editor of social platforms, may prove to be one of my smartest career moves if the current job market is to be believed...

The Guardian • 8/15/2026, 8:01:11 AM
business

Carry on collecting: why old British shopping bags are suddenly in demand

Vintage classics from WH Smith, M&S and Tesco are being bought online, perhaps as part of a nostalgic return to owning tangible items When it comes to everyday objects, a supermarket carrier bag could be the ultimate one – a thing we’re more accustomed to squeezing into a drawer or using until it falls apart than giving any special treatment. But these most mundane items are now enjoying something of a new life...

The Guardian • 8/15/2026, 8:00:51 AM
business

It’s the SUV tyranny: where have all the normal family cars gone? | Coco Khan

They rule the roads and, in their wake, even old-style saloons have been supersized. It’s an illusion of consumer choice Recently, while traipsing from showroom to showroom in search of a used car for my growing clan, the iconic line from Christopher Nolan’s seminal Batman movie The Dark Knight came to mind: “You either die a hero, or live long enough to see yourself become the villain.” And by villain, of course, I mean an SUV driver. Because, if you haven’t shopped for a secondhand family car recently, I’ll save you the shock: wherever you look, it’s SUVs...

The Guardian • 8/15/2026, 7:00:50 AM
business

Five key takeaways from parliamentary hearings into client leaks at KPMG

Partners say they ‘don’t recall’ leaked papers and are accused by lawyers of being misleading as more whistleblowers come forward Get our breaking news email, free app or daily news podcast KPMG staff misled colleagues who tried to investigate leaks of confidential client information, a parliamentary inquiry has heard. The audit and consulting firm and leading clients such as Westpac, Macquarie and Optus faced a grilling on Friday. Westpac’s representative threw his weight behind the Labor-led inquiry’s calls for the Albanese government to reform the big four firms...

The Guardian • 8/15/2026, 4:00:46 AM
business

Flamenc Oh!! review – frills, flirting and fierce footwork in breezy Spanish comedy

Assembly Hall, Edinburgh Can you dance flamenco to Eye of the Tiger? Of course, says the company Yllana, in a flamboyant celebration of breaking down barriers You don’t need to know anything about flamenco to enjoy Flamenc Oh!! That overuse of exclamation marks gives you an idea of the subtlety of this fun/silly dance-comedy by Spanish company Yllana, based on flamenco’s battle between tradition and modernity (which is a real thing in the flamenco world, with its division between purists and progressives). Here is our patriarch with his straight spine and authoritarian streak, banning all music other than flamenco from his family. There’s mother and daughter in polka dots and frills, the son forever trying (and failing) to impress his dad, and their hunk of a cousin who has returned from his travels with some new guitar chords and a love of the blues, ready to upset the status quo...

The Guardian • 8/15/2026, 4:00:46 AM
business

Canadian plasma clinics pause collections after deaths of two donors

Government launches investigation into potential unsafe practices at Spanish healthcare company Grifols A chain of private plasma donation clinics in Canada said Friday it is pausing collections after the deaths of two donors and a new government investigation into potential unsafe practices. Grifols, the Spanish healthcare company that runs 17 clinics across Canada and is the country’s only private clinic for plasma donation, said it informed Health Canada of its decision to temporarily pause collections on Wednesday...

The Guardian • 8/14/2026, 4:21:39 PM
business

Smart glasses controversy sidelines the benefits for disabled people | Letter

Guardian readers reflect on the ableism rife in the debate about Ray-Ban Meta eyewear, despite the life-changing difference they can make Your editorial on Meta’s smart glasses acknowledges their value to blind and visually impaired people, then asks that this “not be allowed to distract” from the harms (The Guardian view on Meta’s smart glasses: regulators must get on the front foot, 10 August). As an optometrist who owns a small independent practice, I’d suggest that it is visually impaired people who are being treated as the distraction. I was reluctant to stock Ray‑Ban Meta, having no fondness for Meta or Luxottica, but colleagues persuaded me of the benefits for people with sight impairment. The reality has surpassed that. The majority of our buyers have a visual impairment or learning difficulty. One man, practically illiterate, now has the world read to him...

The Guardian • 8/14/2026, 3:22:59 PM
climate

Thames Water plans to restart desalination plant – after drought has ended

Utility company’s plant, which has only run five times, now has an estimated total cost of £500m Thames Water is preparing the UK’s only desalination plant to restart operations later this year – but it will only be ready in the winter, long after the current drought is likely to have passed. The utility company said that it was hoping to start operating its plant in Beckton, east London, “by the end of the year”, in order to help build up reservoir supplies over the winter for next summer...

The Guardian • 8/14/2026, 3:08:49 PM
science

BP to develop offshore gasfield in Venezuela with firms linked to Trump administration

Move will be one of first large-scale foreign investments in country since US ousted leader Nicolás Maduro in January BP has answered Donald Trump’s call for oil companies to help rebuild Venezuela’s fossil fuel industry with new plans to develop a large offshore gasfield. BP will partner with two oil firms with close links to the Trump administration to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in Venezuela since the US ousted its leader Nicolás Maduro in January...

The Guardian • 8/14/2026, 2:04:49 PM
business

US firms that kept DEI policies despite ‘go woke, go broke’ threats thrived

Exclusive: Companies that kept policies did just as well financially, even after Trump’s executive order, as those that didn’t Conservative backlash was supposed to put an end to the diversity, inclusion and equity (DEI) movement as companies were warned “go woke, go broke”. In January 2025, Donald Trump delivered a death knell, ending DEI within the federal government with executive orders and threatening to target companies that still supported it. Companies including Google, Goldman Sachs, McDonald’s and Walmart that had embraced DEI years earlier fell into line and announced an end to their policies...

The Guardian • 8/14/2026, 11:00:27 AM
culture

How the mob took Hollywood: the story of organized crime and the movies

Hollywood Crime Story: The Mob Takes Over the Movies looks back at how criminals insinuated themselves in the film business “From the foundation of Hollywood, organized crime is there.” So claims Tom Patterson, producer and director of new three-part documentary series, Hollywood Crime Story: The Mob Takes Over the Movies. Organized crime’s connection to the film industry actually predates Tinseltown, being present for the foundation of the medium itself, when inventor Thomas Edison sicced his hired goons on competitors in an attempt to maintain total control over early motion picture technology. As covered in Hollywood Crime Story, this resulted in said competitors – mostly Jewish businessmen from the east coast – fleeing westward and establishing the town and studio system that would become synonymous with movies as we know them...

The Guardian • 8/14/2026, 9:00:23 AM
business

US long-term borrowing costs hit 25-year high, as inflation fears hit bond sale – business live

Rolling coverage of the latest and economic news, as US sells 30-year bonds at highest borrowing costs since 2001 Gennadiy Goldberg, head of US rates strategy at TD Securities, agrees that the rise in US borrowing costs is “problematic” for the Trump Treasury, adding (via the FT): “They have to fund the government at more expensive levels.” “Investors are being asked to absorb a growing supply of government debt globally at a time when deficits remain large, inflation uncertainty persists.” “If investors continue demanding greater compensation for inflation and fiscal risks, long-term yields could move higher and away from 5% even if Treasury auctions remain well covered.” 10am BST: Eurozone flash GDP report for Q2 1.30pm BST: US retail sales for July 3pm BST: University of Michigan’s US consumer confidence index..

The Guardian • 8/14/2026, 6:22:14 AM
climate

Searches for UK homes with air conditioning more than double

Most owners would consider installing aircon as heatwaves lead buyers to focus on ability to stay cool, Rightmove says Searches for homes for sale in the UK with air conditioning have more than doubled this summer as heatwaves push staying cool up the list of priorities for homebuyers, alongside nearness to good schools and transport links. In the week of the UK’s fifth heatwave, in which temperatures in parts of England hit 38C, the property website Rightmove said the heat was influencing how Britons thought about their homes, with more people paying attention to how comfortable a property would be during hotter weather...

The Guardian • 8/14/2026, 5:00:20 AM
business

Flock Safety tries to curb police abuse of its surveillance cameras after scandals

CEO announces steps after reports that system is used to target immigrants or people seeking out-of-state abortions For nearly a decade, the company Flock Safety has gradually built out a network of cameras across the US that allows law enforcement officials to conduct about 20bn license plate scans every month. In that time, the company had largely left the decision to turn on safety measures up to its customers. Many of those organizations did not turn them on...

The Guardian • 8/13/2026, 8:20:04 PM
business

Donald Trump empowers US private companies to conduct cyber-attacks

President signed memorandum giving private sector a role in fighting ‘transnational criminal organizations’ Donald Trump signed a memo on Wednesday that aims to give private companies the power to carry out offensive cyber-attacks against foreign criminal entities. The president ⁠signed a ​national security presidential memorandum directing his administration to “leverage the capability and innovation of the private sector to help conduct these ⁠cyber operations under the direction, control and authority of the US government”, the White House said...

The Guardian • 8/13/2026, 7:21:00 PM
business

Top Forbes editor reportedly fired after receiving $6m from business associate

Randall Lane left his job last month after accepting money from founder of firm that does business with magazine The top editor of Forbes left his job last month and was reportedly dismissed for accepting $6m from the founder of a firm that does business with the magazine. The New York Times reported this week that Randall Lane was paid by RJ Shook, whose company, Shook Research, worked with Forbes since 2016 to publish rankings of wealth advisers. The payment was made after Shook sold a majority stake in the company to a private equity firm a year ago...

The Guardian • 8/13/2026, 6:16:42 PM
business

BAE Systems to pay $36m penalty after 104 violations of US arms export rules

State department says it has reached administrative settlement with company’s US arm to resolve breaches The UK defence company BAE Systems is to pay a $36m (£26.7m) civil penalty after breaching US arms exports regulations more than 100 times. The US Department of State announced on Thursday that it had reached an administrative settlement with the US arm of BAE to resolve 104 violations of the Arms Export Control Act and the International Traffic in Arms Regulations...

The Guardian • 8/13/2026, 5:35:47 PM
climate

Energy nationalism and interconnectors: the next power threat? | Nils Pratley

Solar eclipses are far easier to manage than Europe’s cross-border electricity politics In the end, the solar eclipse did not cause the electricity grid to flicker. The early drop-off in solar generation was manageable, just as the National Energy System Operator (Neso), the state-owned body responsible for keeping the lights on, predicted. Gas-fired generators still had to be paid nose-bleed prices to fire up, and power via high-voltage interconnectors to continental Europe was also expensively sourced. But the system worked. A summer of heatwaves, however, has highlighted European grids’ reliance on those interconnectors – including seven between the UK and the continent – in an age of extreme weather and greater use of intermittent renewables. On Thursday, another low-wind “heat dome” day, a fifth of power to the British grid was coming from the continent at 10am. Cables from France alone were meeting 11%, or 3.54 gigawatts, of demand, or more than twice as much as the output at that time from the UK’s entire fleet of windfarms...

The Guardian • 8/13/2026, 5:13:45 PM
business

Tesla paid Elon Musk 2.5m times more as CEO than its average worker in 2025

Tech billionaire’s $158.3bn deal an outlier in report showing widening gap of CEO to worker pay at top companies Elon Musk received over 2.5m times as much compensation at Tesla as the company’s average worker, according to a new report on the growing gap between top corporate executives and their workers. Musk’s $158.3bn pay deal was an outlier but came as the gap between CEO and worker pay continued to grow. Excluding Musk, last year the average ratio of CEO to worker pay for the top S&P 500 companies was 312 to 1, up from a 285:1 ratio in 2024. With Musk, the average pay ratio was 5,387:1, according to the executive pay watch report released this week by the AFL-CIO, the largest federation of labor unions in the US...

The Guardian • 8/13/2026, 4:31:14 PM
sports

The Lakers have become a poker chip for some of the most powerful men in America

One of the most famous teams in the world is about to change hands for the second time in less than a year for more than $12bn. Will anyone push back? One of the most brutal lessons we must learn as fans is that the team we shed blood, sweat and tears for is seen by those who own it as just one of many assets. That gap has never felt as wide as it does this week. On Wednesday, ESPN reported that the Los Angeles Lakers are set to change hands, for the second time in 10 months, for $12.5bn, a sum that would be a record for any North American sports team. (The deal must be approved by the NBA’s board of governors before it can go through.) The buyers aren’t diehards who saved up every penny like the good Dr Jerry Buss in the 1970s. Those days are gone. If and when the deal is approved, the new owners will be venture capitalist Josh Kushner and his business partner, Bob Iger. Kushner is the younger brother of Jared Kushner, the titleless Wormtongue to Donald Trump’s Saruman. Iger used to run Disney. These men have connections across the political world and influence in every corner of the American empire. A franchise woven into a city’s identity should never become an asset vastly wealthy people move around like a chip around a poker table. But that is exactly what the Lakers are about to become. The way the deal came together should terrify anyone who still thinks sports belong to the fans. Mark Walter took control of the team from the Buss family last October at a valuation of roughly $10bn. Now he is set to cash out around $2bn richer. That’s not how this is supposed to work. The old guard, like Buss, used to guard their NBA teams like heirlooms and pass them down. Walter is set to flip the team after less than a year...

The Guardian • 8/13/2026, 3:12:26 PM
culture

Sports Direct owner buys Harvey Nichols department store chain

Mike Ashley’s Frasers Group acquires Knightsbridge-headquartered retailer after it went into administration Business live – latest updates The owner of Sports Direct has bought Harvey Nichols out of administration after the upmarket department store chain warned it could run out of money if it did not find new funding. Mike Ashley’s Frasers Group said on Thursday it had bought the department store chain, which is headquartered at its store in Knightsbridge, for an undisclosed sum on the same day as it was placed into administration. It has 13 stores and 1,200 employees...

The Guardian • 8/13/2026, 12:22:13 PM
business

UK economy shows surprising resilience – but that might not last | Richard Partington

Weaker growth, rising energy costs and persistent inflation mean Britain could face tougher times in the autumn UK economic growth slows down Business live – latest updates In the spring the International Monetary Fund warned Britain faced the heaviest economic blow from the Iran war among the world’s most advanced nations. Almost six months into the conflict, on the surface, the UK appears to be proving the forecasters wrong. The latest official figures show the UK maintained its pole position as the fastest growing economy in the G7 in the first half of 2026. Despite the gloomy international backdrop and yet more domestic political uncertainty, consumers have largely continued spending and business investment has boomed...

The Guardian • 8/13/2026, 10:26:46 AM
climate

‘Everyone is scared’: flood-hit Porto Alegre braces for another El Niño

Two years after southern Brazil’s worst climate disaster ravaged the city, and with poor areas still recovering, many fear official neglect has left them exposed once again In the backstreets of Porto Alegre, a state capital in southern Brazil, you can still see signs of the devastating flood that swept through the city two years ago: scattered debris, waterlogged homes and destroyed businesses. In May 2024, flooding killed 183 people in the state of Rio Grande do Sul and displaced more than 600,000. The neighbourhood of Sarandi was one of the hardest-hit parts of Porto Alegre, with water levels reaching up to 5 metres above normal, completely submerging many of its streets...

The Guardian • 8/13/2026, 10:00:55 AM
business

Millions face higher water bills as suppliers allowed £3.4bn extra spending

Firms in England and Wales seek to fund measures including supporting new homes and datacentres Business live – latest updates Millions of households in England and Wales face higher bills after water companies were given the green light to spend £3.4bn more than planned, including to support new homes and datacentres. The new spending will come on top of the £104bn programme of investment approved by the regulator that had already meant water bills will rise by 36% over the second half of the decade...

The Guardian • 8/13/2026, 8:10:54 AM
business

Trump turns to economic pain as US bombings fail to sway Iran

The US military campaign against Iran has so far failed to force Tehran to capitulate. The Trump administration is betting once again that suffocating economic pressure will do the job. Facing a shortfall of necessary munitions and wary of continuing an unpopular war, Trump and his top officials are returning to a familiar playbook with Iran: relying on a steady increase in economic sanctions and a naval blockade to stifle oil exports. The renewed emphasis on economic pain – it was dubbed...

South China Morning Post • 8/13/2026, 6:28:04 AM
sports

UK economy grows by 0.4% in second quarter as some businesses helped by World Cup and hot weather – business live

Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in May Good morning, and welcome to our live, rolling coverage of business, economics and financial markets. The UK economy grew by 0.4% in the second quarter of 2026, in line with economists’ expectations, but with faster growth than expected in June as the football World Cup and warmer weather helped retailers and leisure sectors. The FIFA Football World Cup, which started on 11 June 2026, was cited as a reason for an increase in turnover in June 2026 by businesses in industries such as the manufacture of alcohol, wholesale, food and beverage serving activities, publishing activities, television production and advertising. Some positive impacts were cited by some businesses across a range of manufacturing industries, retail, accommodation, and amusement and recreation activities. On the reverse, the warm weather was also cited as having a negative impact in terms of construction activities and also in education where schools were closed because of the heatwave. 10am BST: Eurozone industrial production (June; previous: -0.2%; consensus: -0.1%) 1:30pm BST: US producer price index inflation (July; prev.: -0.3%; cons.: 0.2%)..

The Guardian • 8/13/2026, 6:26:42 AM
business

UK economic growth slows down as Iran war pushes up energy prices

GDP expanded by 0.4% in three months to June, down from 0.6% in the first quarter, says ONS Economic growth slowed in the second quarter of the year, as the disruption unleashed by the Iran war began to take its toll, official figures show. The Office for National Statistics (ONS) said GDP expanded by 0.4% in the three months to June, down from 0.6% in the first quarter, in line with City economists’ expectations...

The Guardian • 8/13/2026, 6:01:19 AM
business

India fuels worldwide jump in planned coal production

Rise in new mine proposals, mainly in states of Odisha and Jharkhand, comes despite plateau in global demand Enough new coalmining projects were proposed last year to increase global supplies by 2.5bn tonnes a year, an increase of 11% from the year before, even as demand for coal plateaus, according to a new report. Global Energy Monitor, an NGO, found that India ignited a rise in new coalmine proposals in 2025 despite a global slowdown in the number of mine openings because of falling demand for the fossil fuel...

The Guardian • 8/13/2026, 4:00:48 AM
business

Victims of road crime feel ‘forgotten by system’, official review finds

Many of those affected in England and Wales think offences are not treated with the seriousness they deserve, says commissioner Bereaved families or seriously injured victims of road crime feel “forgotten by the system” with offences not treated with the seriousness they deserve, an official review has found. The victims’ commissioner for England and Wales found that many of the thousands afflicted each year by criminal driving felt that “the harm they had suffered mattered less” than that from other serious crimes...

The Guardian • 8/13/2026, 4:00:47 AM
business

Greenland forces Trump-linked US oil firm to delay drilling

US envoy had claimed Americans could be extracting crude by as early as next year Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president’s envoy that Americans could be extracting crude by next year. Amid Trump’s imperialist threats, tensions have been rising on Greenland’s eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a “strong warning” from the government...

The Guardian • 8/12/2026, 6:00:41 PM
business

Canadian airline WestJet agrees to settle flight attendants’ sexual harassment class action

Female staff alleged company failed to maintain safe workplace, after allegations of sexual assault against pilot The Canadian airline WestJet has agreed to pay C$4.5m (£2.4m) to settle a decade-long sexual harassment class action lawsuit levelled by its female flight attendants, who alleged the company failed to maintain a safe workplace. The suit followed allegations by Mandalena Lewis, a former flight attendant, that a pilot had sexually assaulted her and a colleague, but that WestJet kept the pilot flying, thereby putting other employees at risk...

The Guardian • 8/12/2026, 2:40:36 PM
business

US inflation cooled slightly to 3.4% in July, according to latest data

Energy is cheaper than at its peak in late April, but gas is still nearly $1 a gallon more expensive than before the Iran war US consumer prices cooled slightly in July as the annualized inflation rate dipped down to 3.4%, though prices still remain higher than levels seen before the war with Iran. Though inflation decreased 0.7% in June during a brief ceasefire between the US and Iran that brought energy prices down, consumer prices have remained elevated. Price increases hit a three-year high in May, with annual inflation reaching 4.2%...

The Guardian • 8/12/2026, 12:39:46 PM
power

Panama canal fees soar due to Iran war and El Niño as ship ‘pays $4m to jump queue’

Falling water levels linked to weather system are expected to limit number of slots to transit shipping lane Business live – latest updates Commercial ships travelling through the Panama Canal are facing a rise in costs amid disruption triggered by the Iran war and falling water levels linked to this year’s intense El Niño weather system. Highlighting the fragility of global trade, a container ship reportedly paid about $4m (£3m) to jump a queue of vessels waiting to pass through the vital maritime choke point...

The Guardian • 8/12/2026, 12:26:48 PM
business

Iran war and high living costs fueling last-minute holiday bookings, Tui says

Geopolitics and cost of living crisis have cost Europe’s largest travel company €60m so far Holidaymakers are waiting until the last minute to book their trips because of the continuing uncertainty caused by the war in Iran and the cost of living crisis, according to Tui, Europe’s largest travel company, which said the war had cost it €60m (£51m) so far. In the weeks after the outbreak of war at the end of February, Tui recorded a temporary drop-off in customers wanting to travel to Cyprus or Turkey, in what the company called a “volatile market”...

The Guardian • 8/12/2026, 9:54:59 AM
climate

Great Britain faces electricity supply shortfall during solar eclipse

Event expected to hit solar power just as fifth heatwave of summer increases use of air conditioning and fans Great Britain faces a shortfall of electricity supplies on Wednesday evening as the near total solar eclipse is expected to wipe out solar power generation. The government’s electricity grid operator raised an official alarm that there is currently not enough power generation expected as the moon blocks up to 95% of the sun over parts of the country, the most dramatic eclipse visible in Great Britain since 1999...

The Guardian • 8/12/2026, 9:18:21 AM
world

Key US primary races take shape

Tuesday was primary election day in six US states, with both major parties holding runoffs in several races. In Minnesota, the progressive Lieutenant Governor defeated Representative Angie Craig in the Democratic Senate primary, while Wisconsin’s Republican gubernatorial primary remains too close to call. Also in Minnesota, eccentric Donald Trump-endorsed businessman Mike Lindell lost the Republican governor’s primary to House Speaker Lisa Demuth. And in South Carolina, Darlene Graham advanced to the Republican Senate runoff to succeed her late brother, Lindsay Graham, who died suddenly last month. France 24 International Affairs Editor Kethevane Gorjestani shares further insights.

France 24 • 8/12/2026, 9:07:39 AM
business

Millions of US tax dollars sent to rightwing European thinktanks. Did any Trump supporters vote for that? | Arwa Mahdawi

It’s a great betrayal: poor communities neglected while multimillionaires peddle a global Maga agenda. How is that America first? “THE CORRUPTION IS AT LEVELS RARELY SEEN BEFORE,” Donald Trump posted on Truth Social in February 2025. He was not referring to his own administration, but to the US Agency for International Development (USAID). “CLOSE IT DOWN!” the president added. Just a few hours later USAID was in effect closed down, with most of the staff placed on indefinite administration leave. This was framed as part of Trump’s “America first” agenda. USAID, the Trump administration and his sycophants in the rightwing media had argued, was wasting taxpayers’ hard-earned money on ridiculous projects abroad instead of improving life at home. In the lead-up to the shuttering of USAID, for example, one of the most shameless lies about the agency, repeated without any evidence by the likes of Fox News, was that it was spending millions on condoms for Gaza. Arwa Mahdawi is a Guardian columnist..

The Guardian • 8/12/2026, 8:00:23 AM
business

China’s EV sales slide again amid fading incentives, weak demand and persistent price war

Deliveries of electric vehicles (EVs) in China fell 3.9 per cent in July from a year earlier, extending their decline to a seventh consecutive month as fading government incentives and weaker consumer demand weighed on the market. Domestic sales of pure electric and plug-in hybrid vehicles last month also fell 5.8 per cent from June, according to data from the China Passenger Car Association (CPCA). “A bleak market outlook is likely to affect most small [EV] companies, as some of them will be...

South China Morning Post • 8/12/2026, 7:00:14 AM
business

Oil prices climb as Iran talks hit new impasse; Tui hit by high fuel costs – business live

Brent crude prices hover near $90 per barrel, as fallout from Iran war hits travel firm Tui’s profits Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Oil prices are still on the rise, as fresh attacks on ships raise concerns about disruptions to Middle Eastern fuel supplies, adding to doubts over the prospects of a US-Iran peace deal. Yesterday, the rally in US crude paused for a minute after Pakistan’s Defence Minister said that they were getting “close to some sort of arrangement”, but the relief remained short-lived after Iran added that the Strait of Hormuz would remain closed until the conditions it demands from the US are met. And the conditions that both parties demand from each other suggest that the problems won’t be solved by tomorrow. 1.30pm BST: US inflation data for July..

The Guardian • 8/12/2026, 6:59:37 AM
business

Eerie silence and ‘still surviving’: what happened next after steel town’s last blast furnace shut down

Exhibition in Port Talbot is part of project exploring how communities experience endings and transitions Margaret Heggett, 95, does not remember a time when Port Talbot was ever quiet. Born and raised in the shadow of the steelworks, with a father, brother and husband who worked there, she never imagined what the town could look or sound like without its blast furnaces. “I’m not saying it was beautiful, but there were jobs. We did know the closure was coming and we have to move with the times but it’s affected the town a lot and it’s very sad,” she said...

The Guardian • 8/12/2026, 6:00:20 AM
business

UK heatwaves may have cost economy £4.4bn in lost output so far this year, analysis finds

Verdant thinktank says cost could top £25bn a year by 2030 and calls for maximum temperature for working and urban redesign to cool down cities Repeated debilitating heatwaves this summer are likely to have cost the UK economy more than £4bn in lost economic output by the end of July, new analysis shows. Green thinktank Verdant had suggested June’s unseasonally hot weather had an economic cost of £2.36bn. Updating its assessment to include last month’s high temperatures, it finds a £4.4bn hit to output...

The Guardian • 8/12/2026, 4:00:20 AM
climate

Households near new pylons to get £250 taken off annual energy bills

Discounts confirmed near more than 40 locations across Great Britain amid biggest upgrade to electricity grid since 1960s Households living near new power pylons will have £250 a year taken off their energy bills as the UK government prepares to push ahead with more than 40 grid upgrade projects across the country. The government has promised hundreds of thousands of homes living within 500 metres of new grid infrastructure a saving of up to £2,500 on their energy bills over 10 years in return for “hosting vital infrastructure” which will help the UK transition away from fossil fuels...

The Guardian • 8/11/2026, 11:01:12 PM
world

Canadian airline cancels flight after child refuses to wear seatbelt

Flight from Victoria to Toronto forced to return to terminal after repeated attempts to secure child in seat failed A Canadian airline cancelled a flight from Victoria to Toronto after a child refused to wear a seatbelt. The child was standing in their chair as the 6 August Porter Airlines flight taxied towards the runway, the airline said. Repeated attempts by an accompanying parent and crew to secure the child in their seat failed, so the crew elected to return to the terminal and have the two passengers disembark as “the aircraft could not take off in this unsafe condition”, it added...

The Guardian • 8/11/2026, 2:03:28 PM
business

Axe stamp duty? How Andy Burnham could change property tax

The new PM could bring in revenue for social care or defence with a land levy or by reforming council tax Residential property is the largest store of wealth in the UK, and has long been a target for those who believe homes should be taxed more. Real estate remains a juicy plum for Andy Burnham to pick as he searches for ways to pay for an overhaul of the social care system and higher defence spending, to name just two fiscal priorities. Yet how to tax property, or possibly the land it sits on, has vexed economists and politicians for centuries. Here we discuss the background to the debate and some of the tax options...

The Guardian • 8/11/2026, 2:00:01 PM
business

‘Real mummy’s curse’: health warning over growing trade in mummified human remains

Academic paper says often illicit trade exposes enthusiasts – and postal workers handling items – to serious risks A growing global trade in mummified human remains has been described by academics as “a real mummy’s curse” that poses a serious health risk to its enthusiasts and the postal services they use. Research into the secretive buying and selling of centuries-old human body parts including hands, feet and heads found alarming risks from dormant microorganisms and the toxic materials used to preserve the remains...

The Guardian • 8/11/2026, 1:25:07 PM
business

Hotel prices in Europe jump before total solar eclipse

Rooms in Icelandic capital Reykjavík cost double usual rate, with Spain also enjoying strong bookings Europe’s total solar eclipse: the best place to see it Hotel prices have surged in key European cities, as hundreds of thousands of tourists flock to see the first total eclipse visible from the continent this century. Iceland’s capital Reykjavík has seen one of the biggest jumps in hotel room prices, being one of the few accessible locations to see the full eclipse before evening light descends on Wednesday...

The Guardian • 8/11/2026, 10:50:12 AM
business

Heathrow says need for expansion ‘clear’ as it loses title of Europe’s busiest airport

West London airport reports 7.86 million passengers in July, compared with 8.15 million for Istanbul Business live – latest updates Heathrow airport has argued “the case for expansion has never been clearer” after it lost its position as Europe’s busiest airport to Istanbul. Figures published on Tuesday showed 7.86 million passengers passed through Heathrow’s four terminals in July,whereas its Turkish counterpart recorded 8.15 million passengers over the same period...

The Guardian • 8/11/2026, 8:02:59 AM
power

Oil prices rise and gold hits two-month high after Trump makes new deal demands on Iran – business live

US president demands compensation for damage incurred by US, complicating standoff with Tehran Consumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK lifted summer spending. A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long period of heightened uncertainty...

The Guardian • 8/11/2026, 6:59:36 AM
sports

Consumer confidence at near two-year high as World Cup and UK holidaying lift summer spending

Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentials Business live – latest updates Consumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK lifted summer spending. A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long period of heightened uncertainty...

The Guardian • 8/11/2026, 6:00:06 AM
business

RBA interest rates: Reserve Bank holds cash rate at 4.35% but threatens more hikes if needed

In a widely expected decision, the Reserve Bank of Australia holds interest rate after three hikes earlier this year Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast The Reserve Bank of Australia has held the official cash rate at 4.35% but threatened to hike again if needed, as it warned falling house prices would slow income growth. The widely expected decision comes after a steep decline in property values in Sydney and Melbourne arrived in Brisbane, Perth and Adelaide following three rate hikes earlier this year...

The Guardian • 8/11/2026, 5:10:41 AM
business

Burnham to give councils more powers to block vape and betting shops

Vape shops in England and Wales to need planning permission while betting shop law change will also apply in Scotland Councils are to be given powers to stop betting and vape shops taking over their high streets under new plans announced by Andy Burnham. Local authorities will be able to reject new betting shops and adult gaming centres, while vape shops will be subject to planning permission under plans Downing Street said could be in place from the start of next year...

The Guardian • 8/10/2026, 9:30:05 PM
business

The Guardian view on Meta’s smart glasses: regulators must get on the front foot | Editorial

Privacy needs defending against invasive wearable gadgets. So far, businesses are ahead of the government It is not yet clear to what extent Meta’s new smart glasses will live up to the nickname of “pervert glasses” – bestowed in recognition of the obvious appeal of wearable cameras to voyeurs. The past week has seen rising criticism of the devices, which in the UK have been banned by the pub chain Wetherspoons and the theatre group ATG, as well as restaurants, schools and members’ clubs. These organisations deserve praise for standing up for privacy. By contrast, regulators appear once again to be on the back foot. There have, inevitably, already been reports of women being mistreated. Earlier this year the BBC spoke to several who had been filmed without their consent, with footage subsequently uploaded to social media. In one case, the content creator demanded a fee to remove it. In the year to March 2025, image-based sexual abuse and cyberflashing were responsible for more than half of an 11% increase in reported sexual offences in England and Wales. Normalisation of smart glasses would, clearly, make such offences easier to commit. Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please..

The Guardian • 8/10/2026, 5:47:18 PM
business

Water companies circumventing bonus rules? What did ministers expect? | Nils Pratley

Door was left open to such behaviour because the regulator for England and Wales can only use the powers it was given by parliament Thames Water’s £1m payout to finance chief is ‘unacceptable’, says government department Anybody who followed the supposed “clampdown” on bankers’ bonuses after the great financial crash in 2008 knew what to expect when water company bosses became a similar target for a bash in the bonus department. We would see the waterbed principle in action: when you push down in one area of remuneration, such as the performance-related stuff, another tends to go up. Back in the day, banks invented “role-based allowances” – salary top-ups – to “compensate”, as they put it, their top earners for being subject to EU caps on bonuses. No executive was seriously inconvenienced by forgoing the chance of an astronomical (but not guaranteed) bonus and getting a smaller (but still hefty) increase in fixed pay instead. Some even preferred greater certainty over what they would take home...

The Guardian • 8/10/2026, 5:44:09 PM
business

Rush to find solar eclipse glasses as UK high street stocks run short

Some online shoppers may have left it too late to order – but you can view partial eclipse indirectly without specs A frantic rush is on across the UK to find the right kind of protective eyewear ahead of Wednesday’s partial solar eclipse. High street stores are running out of eclipse glasses and online shoppers who track down a pair are being told they may not reach them until the end of the week. In other words, in plenty of time for the next comparable UK eclipse – in 2081 – but no good at all for Wednesday’s show...

The Guardian • 8/10/2026, 2:47:48 PM
climate

‘It’s very challenging’: how the Duke of Westminster’s farm is taking on the climate crisis

Amid world pressure from heatwaves and fertiliser shortages, billionaire’s business has invested in circular farming and biomethane There is a distinctive smell of cow manure in the air at the Duke of Westminster’s dairy farm near Chester. It is a world away from the collection of grand West End properties controlled by the duke that form the backbone of his near £10bn fortune, a decade on from becoming Britain’s youngest billionaire. As part of his 349-year-old Grosvenor empire, Lea Manor Farm on the duke’s Eaton Estate in north-west England has fared better than most dairy farms in recent years...

The Guardian • 8/10/2026, 2:00:46 PM
business

After Burnham’s ‘rip-offs’ crackdown, what more could PM do to help us save money?

From ticket booking fees to parking, here are six other things he could fix Andy Burnham has announced a ban on fake discounts and made it easier to cancel unwanted subscriptions in an effort to improve life for UK consumers. In the long run, these changes may not make as much difference to your wealth as increasing mandatory contributions on pensions or capping rents, but they will get rid of some day-to-day frustrations. Here are six other things he could fix while he is in the mood:..

The Guardian • 8/10/2026, 1:45:32 PM
business

John Lewis managing director Peter Ruis quits job after less than three years

Surprise departure comes after department store chain’s chair warned of ‘really tough trading conditions’ Business live – latest updates The managing director of John Lewis has quit the job after less than three years in charge of the British department store chain, as the company faces “really tough” trading conditions. Peter Ruis will leave the business in order to “pursue new projects”, John Lewis said in a statement on Monday...

The Guardian • 8/10/2026, 1:04:36 PM
business

Crew of Zuckerberg yacht did not hear radio call to assist boat, Meta says

Small skiff ran out of fuel off Alaska and was helped by cruise ship even though Meta CEO’s vessel was closer Zuckerberg faces questions over why superyacht reportedly declined to help stranded boat The crew of a yacht owned by Mark Zuckerberg did not hear a radio call for a maritime assist from a small skiff that ran out of fuel off the coast of Alaska, and by the time it did, another nearby ship had already rendered assistance, a spokesperson for the Meta CEO said. The Alaska Beacon news outlet reported that the skiff had issued a call for assistance through the US Coast Guard last week and a nearby small cruise ship, the Wilderness Legacy, towed it into nearby Farragut Bay in south-east Alaska and refueled it...

The Guardian • 8/10/2026, 12:42:18 PM
business

Millions in Great Britain can now face emergency power cuts at short notice

Grid operator Neso can now respond with rolling blackouts as last resort without need for government powers Business live – latest updates Millions of households could face power cuts at short notice under new rules to help the electricity system operator avoid widespread blackouts when energy supplies run low. The changes, which come into effect this week, will make it easier for the national electricity system operator to call for rotating blackouts at short notice if power supplies are running short...

The Guardian • 8/10/2026, 10:27:26 AM
business

Harvey Nichols warns it could collapse without rescue deal, as bidders circle

Mike Ashley’s Frasers Group is frontrunner to buy Knightsbridge-headquartered department store chain Can Harvey Nichols find its way back to being Ab Fab again? Business live – latest updates Harvey Nichols has warned that it will not be able to survive another year without new investment, as bidders for the Knightsbridge-headquartered department store chain circle. The retailer’s Hong Kong-based owner, Dickson Poon, put it up for sale in June, with Mike Ashley’s Frasers Group aiming to buy it for about £40m...

The Guardian • 8/10/2026, 9:45:26 AM
business

Thames Water faces row over £1m payment to finance chief

Campaign group says firm is ‘taking the mickey’ by paying fee and Andy Burnham should nationalise it Business live – latest updates Thames Water has paid its chief financial officer, Steve Buck, a £1m signing fee despite intense scrutiny of Britain’s biggest water company’s finances as it tries to avoid being taken into public control. The utility revealed that it made the payment last month, in a letter sent last week by Sir Adrian Montague, its chair, to MPs on the environment, food and rural affairs select committee, Sky News first reported...

The Guardian • 8/10/2026, 8:41:25 AM
business

Harry Potter fans force relocation of £430m undersea cable to avoid Dobby’s ‘grave’

Power cable linking UK and Ireland now passes near Bronze Age human burial remains instead of fictional grave on Welsh beach Harry Potter fans have forced a new multimillion-pound power cable between the UK and Ireland to be relocated after complaining it would desecrate the “grave” of Dobby, a fictional elf. The character was laid to rest on Freshwater West beach in Pembrokeshire, Wales, in the film Harry Potter and the Deathly Hallows. Fans of the wizard series come to leave stones reading “Here Lies Dobby” despite being asked not to by the land owner, the National Trust, because the beach is an ecologically sensitive site...

The Guardian • 8/10/2026, 7:46:52 AM
business

UK employment market shows ‘rays of light’ for jobseekers with upturn in pay, study shows - business live

Temporary vacancies rise for first time in two years, permanent job placements stabilise and temporary billings rise further Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. There are signs of improvement in the UK jobs market, with an upturn in pay and the first rise in temporary vacancies in two years as employers sought more flexibility. Despite ongoing uncertainty it’s encouraging that businesses are starting to press ahead with investment, which means across the board we are starting to see the data moving in the right direction. This is most pronounced in the continued rise of temporary work, where employers have been looking at flexible approaches and hiring has been growing for several months, and permanent hiring is starting to turn a corner. Rays of light are beginning to break through for the job market as employers revive hiring plans. Temporary vacancies are up for the first time in two years, while recruiters’ revenue from supplying temporary workers has risen for a fourth consecutive month. Remarkably, this is the first month without a decline in permanent placements since Liz Truss resigned as prime minister in 2022, underlining just how prolonged the downturn in permanent hiring has been. That makes it all the more important that the government takes decisions now that build business confidence and momentum in hiring...

The Guardian • 8/10/2026, 6:40:58 AM
business

Samsung Galaxy Z Fold 8 review: your passport to a folding phone future

Novel squat Android opens to an iPad-like screen for video or multitasking, with plenty of power and battery life Samsung’s latest folding phone breaks the mould with a squat, passport-like shape reminiscent of the Blackberry, which opens up to become a tablet similar to an iPad mini. It is certainly a better shape for a tablet than other designs, but is a short and wide phone when closed a compromise too far? The Galaxy Z Fold 8 is an entirely new variant in Samsung’s foldable family for this year launched alongside the Z Fold 8 Ultra with a more familiar candy bar shape. Both folders are extremely expensive, with the Fold 8 starting at £1,699 (€1,999/$1,899.99/A$2,699) and the Fold 8 Ultra at £1,899 (€2,199/$2,099.99/A$2,999), with RAMageddon driving up prices even at the top of the market...

The Guardian • 8/10/2026, 6:00:37 AM
business

UK manufacturers face rising hacking risk as survey shows 30% were hit last year

Big companies describe being under constant threat but only half have a plan in place to respond to an attack Nearly a third of British manufacturers have been hit by a cyber-attack on them or a company in their supply chain, according to a survey that highlighted the growing hacking risk to companies. The findings come almost a year after Britain’s largest automotive employer, JLR, was hit by an attack that forced it to halt production for weeks...

The Guardian • 8/10/2026, 5:00:36 AM
business

Burnham vows crackdown on ‘rip-off’ business practices to ease cost of living

First of PM’s ‘everyday fixes’ to be banning fake discounts and making it easier to cancel unwanted subscriptions Andy Burnham: I’ll end the rip-offs that people hate Andy Burnham has promised a series of measures to tackle the cost of living, including a ban on fake discounts and making it easier for people to escape unwanted subscriptions. The crackdown on “rip-off” business practices is expected to benefit consumers to the tune of £400m a year and will be the first in a range of “everyday fixes” to be implemented in the coming months...

The Guardian • 8/9/2026, 9:30:26 PM
power

Subscriptions you can’t easily cancel, sales that aren’t sales – I’ll end the rip-offs that British people hate | Andy Burnham

These everyday hassles are small, but they add up – especially in a cost of living crisis. That’s why my government will tackle them head-on Andy Burnham is the UK prime minister Burnham vows crackdown on ‘rip-off’ business practices It’s remarkable how much of modern life can seem designed to wear us down. Every “sale” seems to come with an asterisk. Consumer contracts often find a way of costing more than you expected. And too many companies want you to sign up in seconds, but then make it feel impossible to leave. It’s exhausting. They might not be the issues that keep you up at night. But they’re often the reason you go to bed ticked off. Westminster has got used to telling people that these everyday hassles are just part of life. The response has too often been a shrug of the shoulders or just calling it bad luck. Andy Burnham is prime minister of the United Kingdom..

The Guardian • 8/9/2026, 9:30:25 PM
business

Chinese EV sales surge to new high in Europe, putting tariffs under scrutiny

Imports this year now account for 14% of the market amid claims vehicles are being dumped in the EU and UK Chinese electric car sales have risen across Europe to a record high driven by strong demand and low tariffs in the UK and a surge in buyers in Italy. Against a backdrop of claims that Chinese carmakers are “dumping” state-subsidised vehicles in the EU and UK to gain market share, the figures will give impetus to calls for quotas and higher tariffs to protect European manufacturers...

The Guardian • 8/9/2026, 2:30:58 PM
technology

What are datacentres doing to the places we love? In Slough, I found a bleak answer | John Harris

Whitehall wants to triple the UK’s number of datacentres – but demand for electricity and water means that could be at the expense of new homes Amid headlines about the UK’s drought, Europe’s wildfires and impossible global temperatures, it was 28C when I arrived in Slough last Monday. I was there to look around Slough Trading Estate, a place that might once have conjured up images of the TV comedy The Office, many of whose laughs came at the expense of this overgrown patch of suburbia, 20-odd miles west of London. But these days, this area of town – an incongruous mixture of old-school businesses such as Mr Clutch and Angling Direct, and vast, metal-clad leviathans that look like something pulled from JG Ballard – has become a byword for the constant expansion of datacentres, those hulking symbols of the vast computing power that big tech now requires, not least because of the ever-more complex workings of artificial intelligence...

The Guardian • 8/9/2026, 11:03:18 AM