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Business

Markets, companies, and the global economy.

Exterior of an Argos retail store with red signage at a UK retail park.

Sainsbury's Sells Argos to Swift Partners for £120m in Food-First Reset

A company led by three retail veterans will acquire Argos, while long-term agreements preserve stores inside Sainsbury's supermarkets, Nectar links and the Habitat brand relationship.

By Newsroom · 2 min read · 1d ago

Offshore oil platform standing in the North Sea under a cloudy sky.

Business

BP Puts UK North Sea Business Up for Sale After Six Decades

The energy major has launched a formal sale process covering five production hubs and around 1,100 staff as it simplifies its portfolio and directs capital towards higher-return projects.

Newsroom · 1d ago · 2 min

A broad view across buildings and roads in the Saudi Red Sea city of Jizan.

Business

Saudi Aramco Shuts Jizan Refinery After Houthi Attack, Industry Note Says

The 400,000-barrel-per-day refinery was shut after damage to its gasification complex and tank-farm area, according to an industry note seen by Reuters.

Newsroom · 2d ago · 3 min

Historic black-and-white exterior view of the Federal Reserve Eccles Building in Washington, DC.

Business

Federal Reserve Holds Rates as Three Policymakers Vote for an Increase

The Federal Open Market Committee kept its target range at 3.5% to 3.75% in a 9-3 vote, with three officials seeking a quarter-point rise.

Newsroom · 2d ago · 2 min

The stone exterior of the Bank of England building on Threadneedle Street in London.

Business

Bank of England Holds Rates at 3.75% as Three Officials Back an Increase

The Monetary Policy Committee voted 6-3 to keep Bank Rate unchanged, with three members seeking an immediate rise to 4% as energy-price risks persist.

Newsroom · 2d ago · 2 min

Broadcast studio inside the London Stock Exchange in London.

Business

Pension Giants Explore £1bn Fund to Back UK Science and Technology Scale-Ups

Major pension providers are exploring a UK Scale-up Fund worth more than £1bn to finance high-growth science and technology companies while giving pension savers greater access to potential returns from private markets.

Newsroom · 3d ago · 2 min

Flags of the European Union, representing the Brussels institutions at the centre of the Google competition dispute.

Business

Trump Opens Trade Investigation Into EU After €890 Million Google Fine

The US president has threatened retaliation after the European Commission penalised Google for self-preferencing and restrictions on steering consumers to alternative purchasing channels.

Newsroom · 7d ago · 2 min

Aerial view of cargo terminals and shipping facilities at the Port of Los Angeles.

Business

Trump Imposes New Tariffs on 60 Trading Partners in Forced-Labour Trade Drive

The United States has announced new tariffs of 10% or 12.5% on imports from 60 economies, using forced-labour enforcement as the legal basis for a sweeping new trade action.

Newsroom · 8d ago · 3 min

Composite graphic of Pakistani and US political figures with the flags of Pakistan and the United States.

BusinessParrhesia ExclusiveFeature

Pakistan's $10 Billion Gamble: Can Washington Save an Economy Hanging by a Thread?

Islamabad has reportedly asked Washington for a $10 billion exchange-stabilisation facility as debt, trade pressures and geopolitical obligations tighten around Pakistan's fragile recovery.

Parrhesia Whistleblowers Desk · 9d ago · 5 min

Southern Water wastewater treatment works near Tunbridge Wells, including Archimedes screw pumps.

Business

Former Southern Water CEO Among Four Facing Fraud Charge Over Wastewater Testing

The Environment Agency alleges that four former Southern Water employees conspired to manipulate wastewater compliance testing through artificial no-flow events between 2012 and 2017.

Newsroom · 10d ago · 2 min

The Bank of England building on Threadneedle Street in London.

Business

UK Inflation Falls to 2.6% as Fuel and Food Pressures Ease

Consumer price inflation fell more than expected in June as diesel, petrol and food prices eased, although services inflation remained elevated and energy risks continued to cloud the outlook.

Newsroom · 10d ago · 2 min

Entrance to IBM corporate headquarters in Armonk, New York.

Business

IBM Shares Plunge After Profit Warning Signals AI Spending Shift

IBM shares fell sharply after disappointing preliminary results, raising concerns that the AI infrastructure boom is drawing corporate spending away from traditional software.

Newsroom · 18d ago · 2 min

Business

Oil Prices Jump As Hormuz Crisis Alarms Energy Markets

Renewed US-Iran tensions around the Strait of Hormuz pushed oil and gas prices higher, while bond markets reacted to fears of a longer inflation shock.

Newsroom · 18d ago · 2 min

Business

Trump Drops Hormuz Toll Plan But Keeps Iran Blockade Threat Alive

Donald Trump has abandoned a proposed 20% cargo fee for ships using the Strait of Hormuz, but says the United States will continue to blockade traffic linked to Iranian ports.

Newsroom · 18d ago · 2 min

Business

US presses Iran to guarantee Strait of Hormuz remains open after renewed attacks

Washington is pressing Tehran to publicly guarantee safe passage through the Strait of Hormuz after renewed attacks on commercial vessels threatened to unravel a fragile US-Iran ceasefire.

Newsroom · 21d ago · 2 min

The U.S. Treasury has moved against an alleged fuel-smuggling finance network tied to Cartel de Jalisco Nueva Generacion, pairing sanctions with a banking alert aimed at detecting suspicious transactions linked to cross-border fuel theft. The Financial Crimes Enforcement Network said on 30 June that it had issued a supplemental alert to financial institutions covering fuel smuggling from the United States into Mexico and tax-evasion schemes known as fiscal fuel theft. FinCEN said the alert was issued alongside an Office of Foreign Assets Control action against two Mexican nationals and nine entities tied to CJNG's alleged fuel-smuggling schemes. The case shows how cartel finance can move through ordinary-looking commercial sectors. Fuel theft and illicit resale can generate large revenue while blending into supply chains that involve trucking, storage, energy trading, import documents and payments to companies that appear legitimate. For banks and other covered institutions, the alert is a compliance warning. FinCEN told financial firms to watch for red flags connected to oil and natural gas industry payments, companies without proper Mexican permits and patterns that may indicate smuggling or tax evasion. The sanctions also fit a broader U.S. strategy of targeting cartel revenue streams rather than only individual traffickers. By focusing on fuel, Treasury is highlighting a business line that can finance violence, corruption and money laundering while imposing costs on legitimate energy markets.

Business

U.S. Treasury targets alleged CJNG fuel-smuggling finance network

OFAC sanctions and a FinCEN alert focus on alleged cross-border fuel-smuggling and tax-evasion schemes linked to Cartel de Jalisco Nueva Generacion.

Newsroom · 27d ago · 1 min

Business

U.S. hiring slows as Fed prepares to release Warsh-era minutes

The June jobs report showed a modest 57,000 payroll gain and 4.2 percent unemployment, sharpening attention on the Federal Reserve's next policy signals.

Newsroom · 27d ago · 1 min

Business

Trump Accounts launch with $1,000 seed contribution for eligible newborns

The new savings programme ties child wealth policy to the America 250 holiday weekend.

Newsroom · 29d ago · 1 min

Business

US hiring slows sharply as June payrolls rise by 57,000

The unemployment rate edged down to 4.2%, but the headline improvement was clouded by a weaker labour force and slower job creation.

Newsroom · 29d ago · 1 min

Business

Samsung and SK Hynix plan $518 billion South Korean chip hub

The 800 trillion won plan aims to meet AI-driven demand while spreading semiconductor investment beyond the Seoul region.

Newsroom · 33d ago · 1 min

Business

Comcast plans to split NBCUniversal and Sky from broadband business

The planned separation would create two public companies, one focused on media and one on connectivity, if board and regulatory approvals are completed.

Newsroom · 33d ago · 1 min

Business

Bank of England holds rates at 3.75% as inflation stays above target

The MPC voted 7-2 to hold Bank Rate at 3.75%, while ONS data showed CPI inflation remained at 2.8% in May.

Newsroom · 38d ago · 1 min

Business

UK says clean energy investment announcements have passed GBP100bn

The government says more than GBP100bn in private clean energy investment has been announced since it came to office, but delivery remains the key test.

Newsroom · 38d ago · 1 min

Business

UK Services Contract as Bank of England Holds Rates at 3.75%

The Bank of England held rates at 3.75% in June as S&P Global flash PMI data showed UK services activity falling to a 41-month low.

Newsroom · 39d ago · 1 min

Business

High Court Ruling Clears Legal Path for Gatwick Expansion

London’s High Court has ruled that UK approval for Gatwick Airport expansion was lawful, allowing the project to move forward while environmental

Newsroom · 39d ago · 1 min

Business

Bank of England sets out draft rules for systemic sterling stablecoins

The Bank of England has published policy positions and draft rules for sterling-denominated systemic stablecoin issuers.

Newsroom · 39d ago · 1 min

Business

CRH agrees $8.5bn Arcosa deal to expand US infrastructure business

CRH has agreed to buy Arcosa for $150 a share in cash, expanding its US aggregates and critical infrastructure portfolio.

Newsroom · 40d ago · 1 min