World of Business

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Energy bills face stubbornly high future despite price cap swings, ministers must be honest

Energy bills are forecast to remain stubbornly high throughout the 2020s despite short-term price cap fluctuations, driven by rising grid investment costs. Ofgem and ministers must be transparent about long-term cost pressures to maintain public support for the energy transition.

6 min read

SpaceX to Build $100bn Starbase Launch Complex in Louisiana

SpaceX has announced a $100bn launch facility in Louisiana that will support thousands of Starship flights annually. Construction begins in 2027, with the first launch targeted for 2029. The project is expected to create over 11,000 jobs in the region.

4 min read

Woolworths profit surges 18% on Ooshies boost; Victoria's hidden transport levy revealed

Woolworths reports 18% profit surge driven by Disney Ooshies collectibles campaign; Victoria's auditor general reveals secret public transport fare levy funding Suburban Rail Loop; Future Fund chief executive steps down after 14.8% return; search continues for pilot missing after NT aircraft crash.

13 min read

Winter energy bills set to hit three-year peak as wholesale costs surge and debt crisis deepens

Millions of UK households face their steepest winter energy bills in three years from October 2026, with forecasts of a 4% increase followed by a predicted 9% rise in January 2027. Unpaid energy debt has reached £6 billion, with the cost of covering defaults adding £60 to average bills.

8 min read

Burnham explores insolvency law overhaul to seize control of Thames Water

Prime Minister Andy Burnham is considering overhauling insolvency laws to facilitate public takeover of Thames Water and other utilities. The government is examining legislative reforms to the special administration regime, though creditors have pledged legal challenges.

6 min read

Iran's Trading Partners Face Pressure as US Launches Expanded Sanctions Campaign

The US has announced expanded sanctions on Iran targeting digital assets, gold, aviation and shipping. However, economists question their effectiveness given Iran's deep trade ties with China, Turkey, Pakistan and Armenia, and the US's mixed record enforcing such measures.

7 min read

Jersey wages grow 1.2% in real terms as inflation outpaces pay rises

Real wages in Jersey grew just 1.2% in the year to June 2026 after inflation adjustment, falling below historical averages and leaving workers with reduced purchasing power despite nominal pay rises.

3 min read

OnlyFans Owner Paid $700m in Dividends Before Death

OnlyFans' late owner received over $700m in dividends before his death. The platform generated $714m profit with just 47 employees, now controlled by his widow following regulatory scrutiny worldwide.

4 min read

Lego sales surge 21% on World Cup, F1 and film tie-ups

Danish toymaker Lego reports 21% revenue growth to £4.8bn in first half of 2026, driven by World Cup, F1 and film partnerships. The company also expands renewable energy and completes packaging transition to paper alternatives.

4 min read

Bessent's Bond Market Gamble Will Fail, Warns Former Mentor Druckenmiller

Billionaire investor Stanley Druckenmiller warns that Treasury Secretary Scott Bessent's bond buyback strategy will fail, arguing that deficit reduction—not market intervention—is the only way to durably lower long-term US borrowing costs.

4 min read

Gold surges to three-month peak as inflation fears and bond volatility shake markets

Gold climbs to a three-month high as investors fret over US inflation and bond market instability. Bitcoin breaks $80,000 while Brent crude falls. Shipping through the Strait of Hormuz hits a five-month low amid US-Iran tensions.

5 min read

Disney Ooshies craze dents Coles sales as shoppers flock to Woolworths for collectibles

Woolworths' Disney Ooshies collectibles campaign has temporarily dented Coles' July sales, with nearly two-thirds of parents changing shopping behaviour to collect the figurines. The promotion expanded to BIG W and MILKRUN, running through August 2026.

5 min read