British business newspaper owned by Nikkei, focused on financial journalism
Nats has said a millisecond software defect in its flight‑data system has caused last week’s outage that cancelled more than 2,000 flights and disrupted hundreds of thousands of travellers. CEO Martin Rolfe has apologised and said a mitigation is in place while a permanent fix is tested; Transport Secretary Heidi Alexander has ordered an independent CAA review.
Chelsea Football Club's ownership moves to full control by Clearlake Capital as Todd Boehly and Mark Walter exit their stakes. Wyss remains a stakeholder; Chelsea reiterates no change to day-to-day operations while pursuing long-term sporting and infrastructure ambitions.
Zoox has received a temporary NHTSA exemption that allows it to charge fares for its purpose-built robotaxis and will start paid rides in Las Vegas on Aug. 10. The company can deploy up to 2,500 vehicles annually for two years under enhanced federal oversight while state and local approvals remain required for expansion.
BP has announced it is marketing its North Sea business for sale as part of a portfolio simplification. The unit comprises five hubs and about 1,100 staff. The move follows political and policy debates on North Sea drilling and energy funding, with potential proceeds around £2 billion. BP is seeking an owner to back the next chapter of a Slimmed-down BP while focusing on higher-value opportunities.
A coordinated U.S.-Japan intervention in late July has only temporarily strengthened the yen. The currency has given back roughly half the gains from the operation and is trading near ¥159–¥160 to the dollar as of mid-August. Analysts say the yield gap between U.S. and Japanese debt and Japan's domestic policy mix are keeping downward pressure on the yen.
Spider-Man: Brand New Day has opened with a record domestic debut, while The Odyssey leads the global box office, underscoring a year of mega releases. The industry is buoyed by premium formats and high ticket prices, even as overall audiences lag behind pre-pandemic levels.
A Financial Times poll conducted for the Financial Times finds Americans nationwide are in a worse financial position than a year earlier. Democrats hold a small edge on the midterm generic ballot, while President Biden’s approval remains low. Analysts warn that the Republican agenda could be endangered if Democrats regain control of Congress; Trump supporters are fixated on monuments and other policy symbols. The data add to a challenging political climate ahead of November’s elections.
AstraZeneca has been linked to talks with Bristol Myers Squibb on a potential mega-merger. Reports say talks are ongoing and could form one of the industry’s largest deals, but regulatory hurdles and integration risks loom large.
Apple has filed a fresh challenge at the UK Investigatory Powers Tribunal against the government’s demand to access encrypted iCloud data. The move follows a long-running dispute over “backdoor” access and the UK’s use of technical capability notices to compel data access, with the government defending encryption protections while arguing for proportionate access in serious crimes.
OpenAI and Apple are locked in a widening trade secrets dispute. Apple seeks expedited discovery and alleges misconduct by former Apple employees now at OpenAI; OpenAI rebuts with published iMessages and claims Apple misrepresented facts. The dispute centers on alleged theft of confidential hardware information and the handling of staff transitions.
Ukraine has reported intensified Russian missile and drone attacks across Kyiv and other cities. Zelensky has urged partners to accelerate air-defence deliveries, citing casualties and the mounting strain on Ukraine’s defensive network. NATO and US officials warn the war could intensify this winter.
AstraZeneca has not confirmed talks with Bristol Myers Squibb on a potential $400bn mega-merger, despite earlier reports. The markets rallied and fell as investors digest the possibility, with analysis suggesting mega-deals face antitrust and integration risks. AZ’s strategy centers on accelerating U.S. presence while leveraging its strong oncology franchise.
The Trump administration has refunded about $100 billion of pre-cut tariff revenue after a Supreme Court ruling invalidated much of the IEEPA-based tariff regime. Refunds are continuing as trade authorities review remaining claims and importers provide banking details, while lawsuits challenge new duties.
Wall Street has committed vast capital to AI projects while US equity indexes have hit fresh records and volatility sits near year-to-date lows. Big investors have lined up roughly $500 billion to finance AI build-outs linked to Nvidia, and the heavily leveraged hedge fund Situational Awareness has lost around 67% in a month and sold much of its public book to Citadel.
Moove has raised $250 million in a Series C led by Mubadala, supporting its plan to scale autonomous-vehicle operations while continuing its human-driven fleet business. The funding values Moove at $2.1 billion and will fund depots, hiring, and expansion with Waymo partnerships.
Milburn’s review calls for primary schools to flag Neet risk from the end of primary education, with welfare reform and better mental health support on the horizon as government seeks to reduce youth disengagement.
Nvidia has enlisted six Wall Street firms to finance a $500 billion buildout of AI infrastructure, treating compute as a new asset class. The plan centers on financing data centers and GPU clusters for customers unable to pay upfront, with OpenAI-related projects and neoclouds in focus. Executives cite long-term value and revenue generation, while cautions focus on depreciation risk and China’s potential price competition.
Mari has entered a definitive agreement to buy ATG Entertainment from Providence, valuing around £4.5 billion per reports. ATG operates about 70 theatres globally, with West End venues and regional theatres. The deal keeps ATG operating under its brand and leadership while expanding Mari’s live-entertainment portfolio.
Wendy’s has drawn activist interest as Nelson Peltz’s Trian Fund Management contemplates a bid to take the chain private. Shares have climbed amid speculation of new capital backing, though the company is reviewing any proposal with fiduciary care. Analysts note ongoing sales declines and a challenging macro environment for value-focused consumers.
Anthropic has reported surging run-rate revenue and is considering a public listing this fall. Investors are forecasting a multi-trillion-dollar valuation, while safety and regulatory concerns persist amid fierce competition with OpenAI and Chinese challengers.
A wave of extreme heat is forcing people to rethink work, commuting and leisure. From London offices to outdoor pools, residents are adapting with new routines and strategies in response to record temperatures this summer.
Britain’s housing market has cooled further, with Rightmove reporting a 2% drop in newly listed prices this August. London leads the decline while the North steadies, and investors are pushing prices lower as liquidity returns to the market.
Bankers warn that higher levies could drive investment and jobs away, while politicians face pressure to fund cost‑of‑living measures. Dimon cautions that an uncompetitive tax system risks capital flight as Healey prepares to deliver his Budget.
Walmart has announced it is directing tariff refunds toward price cuts and improved customer experiences. US comparable sales have slowed, though the company reports a continued lift from rollbacks and investments in groceries and essentials. Analysts warn profits may face headwinds from fuel costs and automation spending amid uneven consumer demand.
The United States has escalated economic pressure on Iran with new sanctions, while markets digest the implications for oil supply and global finance. Iran vows resilience as China defends its interests amid the push. Prices wobble but stabilize after early volatility.
A federal judge has vacated a policy that would have blocked immigrant visas to 75 countries, ruling Secretary of State Rubio exceeded his authority and violated the Immigration and Nationality Act. The decision reinforces consular officers’ control over visa eligibility and sparks renewed debate over the administration’s immigration agenda.
The United States has announced a new wave of sanctions aimed at Iran’s economy, describing them as the most severe financial measures yet. Tehran warns of retaliatory moves, and markets react as the rial hits record lows amid heightened tensions. Officials from both sides signal a broad confrontation that could redraw energy routes and international trade.
The United States has warned of an unprecedented financial offensive against Iran, with Treasury officials and the president signaling tighter enforcement of sanctions. Tehran has warned of an "earthquake-like" retaliation and warned Gulf states against joining. Oil markets are watching, as prices fluctuate amid the standoff.
The rial has fallen to 2.02 million to the dollar on informal markets as the U.S. readies sharper sanctions. Officials say the official rate sits at 1.5 million, but the street rate prevails for most Iranians, amplifying inflation and pressure on living costs. UAE suspends trade, and Iran vows retaliation.
The Scottish National Investment Bank has reported continued losses for 2025-26, driven by early portfolio failures, while committing a record level of capital to Scottish ventures. Despite the losses, operating costs remain contained and leadership stresses long-term patient investment; the bank is pursuing diversification of capital sources and a strategy refresh.
The US Treasury has announced "Operation Economic Outcast," expanding secondary sanctions and targeting Iran's digital assets, technology, gold, aviation and shipping to sever Tehran's revenue streams. Washington has designated about 60 individuals, companies and vessels worldwide; Iran says it is prepared with contingency plans and vows to pursue both defence and diplomacy.
The United States has expanded its sanctions campaign against Iran, aiming to sever economic lifelines and isolate Tehran further. Beijing rejects unilateral penalties and pledges to protect its interests, while analysts weigh the risks of Chinese retaliation amid upcoming US-Chinese talks.
CIA Director John Ratcliffe has visited Moscow after a U.S. C-17 transport landed at Vnukovo, flight-tracking data shows. Russian and U.S. officials have not detailed the meetings. U.S. sources told Axios that Washington asked Kyiv to pause strikes while the delegation travelled; Moscow later confirmed Ratcliffe met Russian security officials.
Druckenmiller has publicly said he used AI to help write his Wall Street Journal op-ed criticizing Treasury policy, sparking a heated debate about authenticity, disclosure, and the role of AI in high‑level commentary; coverage across outlets notes the substance of his critique while weighing the ethics of AI-assisted authorship.
A wave of paid social clubs is reshaping how young adults form connections as loneliness rises. Platforms like PLY and Agora offer curated events and memberships, while researchers note a broader cultural shift toward intentional, real‑world gatherings.
The State Department has paused all immigrant visa applications to reassess public-charge rules, while preparing to revoke up to 200,000 asylum-related business and tourist visas. Officials say the pause is temporary and tied to a global training program for consular staff, with interviews being rescheduled into the fall. Legal challenges are anticipated as the administration tightens enforcement of immigration policy.
Brent crude has climbed toward $97 a barrel after renewed exchanges of strikes between the United States and Iran over the past week. US strikes have hit sites along Iran's southern coast while Iran has attacked US-linked vessels and bases in the region; shipping through the Strait of Hormuz remains constrained and US pump and diesel prices have risen.
Victoria Beckham Holdings Ltd has posted its first operating profit in 18 years, reporting £7.3m profit in 2025 on revenues of £129.8m, a 15% rise. The brand’s fashion and expanding beauty arm drove growth after years of losses, aided by cost discipline and a Netflix documentary that boosted momentum.
Ukraine has launched a defense-tech initiative backed by Palantir’s Alex Karp, aiming to translate battlefield lessons into civilian and allied defense applications. Fedorov, the former defense minister, says the venture will prioritize Ukraine and expand into AI-enabled missiles, drones and robotics; details are forthcoming as partnerships develop.
Republicans have held an unprecedented two‑day midterm convention in Dallas that has placed President Donald Trump at the centre of the party’s campaign. Trump and Vice‑President JD Vance have delivered hardline attacks on Democrats and offered a controversial $5,000 "Trump dividend" pledge if Republicans win both houses. Attendance by vulnerable GOP lawmakers has been uneven and many candidates have chosen to stay in their districts.
The Financial Times has reported that Russian missile experts are aiding Iran in developing a ramjet‑propelled cruise missile system codenamed C430L, capable of threatening US carriers in the Middle East. The program began in 2023 and has continued into 2026, with ties between Moscow and Tehran deepening as they face Western pressure.
Army secretary Daniel Driscoll has resigned amid clashes with Defense Secretary Pete Hegseth. The move follows a wave of firings and blocked promotions that have redrawn senior leadership, with lawmakers calling for accountability and a clearer path to modernize the force.
The government has framed its approach to the October budget around boosting growth while preserving fiscal discipline. Chancellors have signalled a commitment to devolution, welfare reform, and a tighter budget in response to high borrowing costs and global instability.
A new Oasis documentary charts their 2025 reunion tour, showing Liam and Noel Gallagher reconciling and delivering a stadium-scale return. Directors Will Lovelace and Dylan Southern capture rehearsals, the Cardiff comeback, and fan ecstasy, while exploring why the music endures across generations.
A developing plan to deliver growth across Britain is being refined, focusing on new factories, local investment, and empowered mayors to drive jobs and regional regeneration. The approach emphasizes tangible benefits in communities, with a timetable guiding the roll‑out and stronger high streets.
Major brands and some supermarkets have shifted canned mackerel from Atlantic (true) mackerel to cheaper, MSC‑certified Chilean jack mackerel. Producers say sustainability and supply constraints drove the change; consumer groups and reviewers say the replacement has lower omega‑3, different taste and texture and risks "skimpflation." Retailers say the species is labelled and sourcing follows standards.
New Mexico’s name remains unchanged as lawmakers urge Apple and Google to keep the state labeled New Mexico on maps. President Trump has sparked a broader renaming conversation by suggesting changes to Gulf of Mexico, Lake Ontario, and now New Mexico, drawing swift pushback from state officials and lawmakers.
President Donald Trump has posted a Truth Social map showing the United States draped over Canada, Greenland, Iceland, Mexico, Central America and parts of the Caribbean. Iceland has summoned the US ambassador and called the image "completely inappropriate." Denmark and Mexico have publicly criticised the post; several European leaders have also protested.
FIFA president Gianni Infantino has faced renewed scrutiny as FairSquare’s complaints persist, with European bodies pressing for transparency and a fresh external review of the FFE plan. UEFA and others are seeking documents, while Infantino remains intent on a fourth term, with candidacies due next month.
AXA has unveiled a growth strategy that embeds data and AI across its value chain, aiming for 7-9% annual growth in underlying earnings per share and 500-700 euro in annual AI-derived benefits by 2029. The plan includes AI-assisted underwriting, automated claims, and personalised offers, set against broader industry caution over rapid AI expansion.