World of Business

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Bank Predicts Home Price Drop Twice Government's Budget Forecast

Commonwealth Bank predicts a 5% drop in home prices due to budget tax changes, over twice the government's forecast. Treasurer Jim Chalmers defends legislation amid debate. Trade Minister Don Farrell challenges US tariffs. PM Albanese addresses political dynamics and housing aspirations.

9 min read

Colorado Governor Vetoes Bill Banning Surveillance Pricing Amid Nationwide Debate

Colorado Governor Jared Polis vetoed a bill banning surveillance pricing for wages and consumer goods, citing concerns over its broad scope. The veto comes amid growing efforts across states to regulate algorithmic pricing practices.

5 min read

UK Government Commits £1.3bn to Fund Universal Studios Theme Park in Bedfordshire

The UK government will provide £1.3bn to support Universal Studios' first European theme park in Bedfordshire, creating thousands of jobs and boosting regional growth.

3 min read

Sport Aberdeen Boss Exit Package Exceeds £100,000 Amid Financial Efficiency Move

Former Sport Aberdeen managing director Alistair Robertson received an exit package exceeding £100,000 after proposing his role's removal for financial efficiency. The payment was disclosed in audited accounts amid ongoing funding challenges and a formal OSCR investigation.

4 min read

US Imposes New 10-12.5% Tariffs on 60 Countries Over Forced Labour Issues

The US has imposed new 10-12.5% tariffs on 60 countries, including the UK and EU, citing failure to address forced labour in imports. This follows a Supreme Court ruling invalidating previous tariffs and an investigation into forced labour practices.

2 min read

Adam Price Proposes Ambitious Plan to Transform Wales' Economy

Adam Price unveils an ambitious plan to boost Wales' economy by closing the productivity gap with the UK, supporting business growth, and ensuring economic benefits reach all communities.

3 min read

UK Watchdog Requires Google to Let Publishers Block AI Search Summaries

The UK Competition and Markets Authority mandates Google to let publishers opt out of AI search summaries, aiming to protect publisher revenue and control over content use.

6 min read

Report: Over 75% of Workers Not Saving Enough for Moderate Retirement Income

A Pensions UK report warns over 75% of workers are not saving enough for a moderate retirement lifestyle, with rising costs increasing income needs. Only 23% are on track for moderate income, and just 9% for a comfortable one. Gender disparities in savings also persist.

3 min read

Canada Seeks 16-Year Renewal of USMCA Amid Trade Negotiations with US and Mexico

Canada has formally requested a 16-year renewal of the USMCA trade pact with the US and Mexico amid ongoing negotiations addressing tariffs and market access.

4 min read

Sutherland Spaceport Ltd to be Liquidated and Assets Sold

Sutherland Spaceport Ltd, a subsidiary of Orbex, is being liquidated with assets sold. Orbex, placed into administration earlier this year, employed 163 people and developed the Prime rocket for small satellite launches.

1 min read

Siemens Energy to Acquire Camlin Group in Multi-Million Pound Deal

Camlin Group, a Lisburn-based manufacturer of electricity grid monitoring equipment, will be acquired by Siemens Energy in a deal valued between £150m and £250m, marking the second major transaction for entrepreneur John Cunningham.

2 min read

Campaigners Criticize £2bn Rural Data Centre Proposal in Borders

A £2bn data centre proposed in the Borders faces opposition from campaigners who call it a "monster" that would harm the rural landscape, despite promises of job creation and renewable energy use.

3 min read