World of Business

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At what point do you ask a friend to repay borrowed money?

When should you ask a friend to repay borrowed money? New Yorkers and London students share their thresholds, from $5 to $20, while research reveals 76% of Gen Z who fronted group expenses weren't fully reimbursed.

6 min read

UK food and drink trade deficit hits 25-year high of £21bn amid global pressures

The UK's food and drink trade deficit has reached £21bn, its largest since 2000, as geopolitical conflict, US tariffs and Brexit friction suppress exports while imports surge. Industry leaders warn the government must treat domestic food production as a national security priority.

5 min read

Union condemns 55 job cuts at Lurgan packaging plant

Smurfit Westrock has begun restructuring its Lurgan packaging plant, eliminating approximately 55 jobs. Unite the Union's general secretary Sharon Graham said there is "absolutely no justification" for the cuts, which represent roughly one-third of the site's workforce.

3 min read

GB Energy Chief Defends Aberdeen Hiring Pace Amid Job Creation Scrutiny

Great British Energy's chief executive has defended the company's recruitment pace in Aberdeen, clarifying that it is hiring approximately two staff members weekly with a target of 300 employees by 2030, while emphasising that the firm's broader impact should be measured through the 1,500 indirec...

5 min read

Fitness chain Barrecore and Boom Cycle abruptly closes all London studios

Common Bond, which operates premium fitness brands Barrecore and Boom Cycle, has closed all its London studios without notice. Instructors report unpaid wages and learned of the shutdown through a customer email. The company has not yet filed financial accounts.

3 min read

Trump's July stock trades exceed $270m across tech giants and SpaceX

Trump's July stock disclosures reveal over $270 million in trading activity across Microsoft, SpaceX, Nvidia, and other tech firms, managed independently by third parties with no family involvement in investment decisions.

3 min read

Man Utd carries £1bn debt despite £63.5m stadium land spend

Manchester United's debt remains above £1bn despite record revenues and cost-cutting. The club spent £63.5m on stadium land while finance costs surged 228%, fuelling supporter protests over squad investment and the £2bn stadium project.

6 min read

Admiral to eliminate 500 UK jobs as part of £100m cost-cutting drive

Admiral Insurance has announced plans to cut 500 jobs across its UK operations as part of a £100m cost-reduction programme, affecting about 5% of its workforce. The Cardiff-based firm says the changes will improve efficiency, and affected staff will receive enhanced redundancy packages and support.

2 min read

UK growth forecast cut for 2027 as Middle East conflict weighs on economy

The OECD has downgraded the UK's 2027 growth forecast to 1% from 1.1%, citing Middle East conflict impacts on fuel prices, though 2026 prospects improved to 1.1%. Multiple nations face similar headwinds from geopolitical tensions and climate-related supply shocks.

2 min read

Europe's car makers turn to defence spending as Chinese rivals threaten survival

Europe's struggling car makers are pivoting toward defence contracts as Chinese rivals dominate the EV market and commercial demand collapses. Ford, Jaguar Land Rover, Renault, and Volkswagen are bidding for military vehicle programmes, but defence spending alone cannot replace the mass consumer ...

11 min read

IMF chief urges wealthy nations to slash debt as borrowing costs climb

The IMF's managing director warns wealthy nations must urgently reduce debt and cut borrowing as interest costs surge. Global public debt has reached its highest level since World War II, threatening both advanced and developing economies.

5 min read

DoorDash to pay $131.5m settlement over wage violations in New York City

DoorDash agrees to pay $131.5 million to New York City after admitting it underpaid or paid late roughly 264,000 delivery workers. The settlement includes three years of city oversight and addresses wage calculation errors tied to the state's 2023 minimum pay law.

4 min read