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British Council Plans Job Cuts and Closures to Repay £197m Loan

The British Council plans further job cuts and closures in 11 countries to repay a £197m government loan from the Covid era, with profitability not expected until 2029-30, says the National Audit Office.

3 min read

Kyle Sandilands Settles with ARN Media for $12M and Support for New Venture

Kyle Sandilands settles with ARN Media for $12.09M and advertising support for a new media venture, ending legal claims but barring him from competing radio for nine months. Jackie Henderson's case remains ongoing.

3 min read

SpaceX Surpasses Amazon as World’s Fifth Most Valuable Company

SpaceX has surpassed Amazon as the world’s fifth most valuable company following its IPO and $60bn acquisition of AI coding startup Cursor, enhancing its AI capabilities and market position.

4 min read

Yum! Brands to Sell Pizza Hut Chain in $2.7bn Deal Amid Challenges

Yum! Brands is selling Pizza Hut for $2.7bn amid declining US sales and rising competition, with LongRange Capital and Yum China acquiring different regions.

3 min read

SpaceX Acquires AI Coding Startup Cursor for $60bn Days After IPO

SpaceX has acquired AI coding startup Cursor for $60bn shortly after its record-breaking IPO, aiming to expand its AI business alongside its core aerospace operations.

3 min read

Fujitsu Chair Hidenori Furuta Resigns Over Woman-Related Misconduct

Fujitsu chair Hidenori Furuta resigns after board uncovers woman-related misconduct. The company faces ongoing fallout from the UK Post Office IT scandal involving faulty software and wrongful convictions.

3 min read

Heating Oil Prices Fall Below £400 Amid Iran Crisis Resolution

Heating oil prices in Northern Ireland have dropped below £400 for 500 litres, the lowest since February's Iran crisis began, as global oil prices fall following a US-Iran deal. Petrol and diesel prices are also declining from recent peaks.

2 min read

Japan Raises Interest Rates to Highest Since 1995 Amid Inflation; Thames Water Rescue Faces Government Opposition

Japan raises interest rates to 1%, highest since 1995, amid inflation linked to the US-Iran war. Meanwhile, Thames Water's £10bn rescue deal faces government opposition over concerns of a 'weak' offer and ongoing mismanagement.

3 min read

Japan Raises Interest Rate to Highest Level Since 1995 Amid Inflation Concerns

Japan's central bank raised its interest rate to 1%, the highest since 1995, amid rising inflation and energy prices. The BOJ balances inflation control with economic growth, while aiming to stabilize the yen amid global currency pressures.

3 min read

Starbucks Korea Closes Stores for History Training After Controversial Promotion

Starbucks Korea will close all stores for a mandatory history lesson after a controversial promotion recalling the 1980 Gwangju massacre sparked backlash and boycotts.

4 min read

Government Objects to Thames Water Rescue Deal, Raising Nationalisation Prospects

The UK government has objected to Thames Water's £10bn rescue deal, increasing the likelihood of nationalisation amid concerns over consumer and environmental protections.

4 min read

SpaceX IPO Raises $85.7 Billion, $10 Billion More Than Initially Reported

SpaceX raised $85.7 billion in its IPO, $10 billion more than initially reported, marking the largest IPO ever. Elon Musk reached trillionaire status as shares surged over 14% on Nasdaq debut.

2 min read