Trending Business News
Goldman Sachs partner warns of ‘huge danger’ in letting AI replace bankers’ reasoning skills
A Goldman Sachs partner warns that widespread AI adoption in banking risks eroding junior bankers’ analytical and reasoning abilities, potentially undermining Wall Street’s traditional apprenticeship culture.
Pubs, bars and hotels report ‘Burnham bounce’ in optimism but call for further tax relief
Hospitality sector businesses report increased optimism following government tax relief measures, though industry leaders warn additional tax cuts are needed to sustain momentum and address rising operational costs.
Argos is getting a makeover – but can it attract new shoppers?
Argos, the British retail chain, is undergoing new ownership and considering expansion plans including new standalone shops, though it faces significant competition from online retailers like Amazon.
Trump admin taps former JPMorgan Chase exec Matt Zames to advise Social Security agency
Former JPMorgan Chase executive Matt Zames will serve as an unpaid advisor to the Social Security Administration, joining commissioner Frank Bisignano to help modernize the agency’s outdated technology systems.
Inside Coca-Cola’s secretive innovation labs: How the beverage giant wants to automate dirty soda and refreshers
Coca-Cola is developing new automated beverage equipment including Freestyle dispensers that make dirty sodas and refreshers, testing customizable drinks to compete with specialty beverage chains and meet consumer demand for handcrafted options.
Fast-fashion giant Shein sets cut-price $27bn valuation for Hong Kong IPO
Fast-fashion retailer Shein will list on the Hong Kong stock exchange on 1 September at a valuation near $27bn, down significantly from its prior $100bn peak after reporting losses earlier this year.
Iran says it is ‘fully prepared’ to counter widened US economic sanctions
The US Treasury announced sweeping new sanctions against Iran, describing them as an “economic D-Day,” while Iranian officials said they are fully prepared to counter the measures through alternative trade partnerships.
US-Canada trade war heats up as Trump threatens to hike auto tariffs
President Trump has threatened to increase US tariffs on Canadian automobiles and parts from 25% to 50% starting January 1, escalating tensions after trade negotiations between the countries collapsed.
Lego posts record first-half revenue, CEO touts strong sales at high-end and value pricing
Lego reported record first-half revenue of 41.9 billion Danish kroner, posting a 21% revenue increase driven by botanical sets, Formula 1 partnerships, and collectible products.
Jaecoo owner Chery takes ‘next step’ in UK push with R&D centre
Chinese carmaker Chery announced plans to establish a major research and development centre in England as part of its long-term UK expansion strategy, following rapid growth in market share.
81,000 warning letters sent to crypto holders in HMRC tax crackdown
UK tax authority HMRC sent over 81,000 warning letters to cryptocurrency holders in the past year regarding potential unpaid capital gains tax, nearly tripling the volume from 2024.
What’s happening to UK interest rates and mortgage deals?
The Bank of England has held UK interest rates at 3.75%, their lowest level since February 2023, as Middle East conflict pushes inflation higher and complicates future rate-cut prospects.
Baby products company Frida is expanding into kids’ personal care
Baby products company Frida is launching a new line of personal care products for children ages 6 to 11, available at Walmart and Amazon, filling what executives describe as a significant market gap.
Why JPMorgan is investing big in the 2028 LA Olympics
JPMorgan has become the Los Angeles 2028 Olympics’ first-ever global banking partner in a nine-figure deal, boosting the firm’s sports industry investments and signaling confidence in the Games’ sponsorship restructuring.
Invitation Homes CEO says ban on institutional homebuying will bring down prices, but not immediately
Invitation Homes CEO says the institutional homebuying ban will lower prices long-term but not immediately, citing mortgage rates, construction costs, and zoning challenges as complicating factors.
GM reaches up to $4.5 billion parts deal designed to avoid supply chain troubles
General Motors secured a $4.5 billion parts purchasing facility through Procura Auto Parts, funded by JPMorgan Chase and Banco Santander, to secure critical components and prevent supply chain disruptions.
Sea Ray parent Brunswick bets on AI navigation and new revenue streams to help stalling boat sales
Brunswick Corporation is deploying artificial intelligence navigation technology and expanding recurring revenue streams through software and membership clubs to offset weak new boat sales in the sluggish market.
Hims & Hers CEO says FTC lawsuit misunderstands how the company works
Hims & Hers CEO Andrew Dudum defended the telehealth company against FTC allegations regarding data sharing practices, characterizing the lawsuit as stemming from misunderstanding.
American Airlines to restore seatback screens on US flights
American Airlines will restore seatback screens across its domestic fleet, reversing years of removals, as the carrier aims to improve passenger experience and compete with rivals.
Meta hooked children on Facebook and Instagram, US court hears
A California court has heard opening arguments in a lawsuit filed by 29 US states claiming Meta intentionally hooked children on Facebook and Instagram, violating privacy laws and damaging teen mental health.
‘Banned over a pair of £2 sandals’: Why some sellers are complaining about Vinted
Multiple Vinted users report being permanently banned or suspended, with some claiming the platform’s fraud detection system is incorrectly flagging legitimate sales of second-hand items.
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