Trending Business News
Water companies in England and Wales explore ‘surge pricing’ during drought
Water regulators in England and Wales are considering allowing companies to raise bills during drought periods, a practice likened to surge pricing used by ride-sharing services.
American Airlines will stop upgrading elite flyers to business from coach on long domestic flights
American Airlines will restrict complimentary business-class upgrades for elite members on certain long-haul domestic routes starting Aug. 25, offering premium economy upgrades instead.
Why Jensen Huang’s $500 billion AI financing plan faces a big risk from China
Nvidia announced a $500 billion financing plan for AI infrastructure with major asset managers, but faces risks from potential Chinese competition and GPU depreciation concerns.
Home Depot CEO taking temporary medical leave, two top execs to run the retailer
Home Depot CEO Ted Decker is taking temporary medical leave for several months, with two senior executives appointed to lead operations and financial management during his absence.
Why Japanese firms are being so slow to use AI
Japan lags significantly behind the US and UK in workplace AI adoption, with just 8.4% of workers using AI compared to 50% in America, due to conservative corporate culture and risk aversion.
The ‘20% rule’ behind Giorgos Tsetis’ blueprint for a new kind of family office
Giorgos Tsetis operates his family office Great Things by investing in startups rapidly while committing at least 20% of annual profits to philanthropy, having deployed nearly $40 million in investments and $7 million in charitable commitments over 18 months.
From tourism to power generation and productivity, Europe feels economic cost of heatwaves
European economies face significant economic losses from heatwaves this summer, with analysts estimating €180 billion could be wiped from EU GDP due to infrastructure shutdowns, reduced productivity, and disrupted supply chains.
New UK cost of living crisis looms with soaring energy bills forecast to lift inflation
UK inflation is forecast to rise to nearly 3% in July as soaring energy bills squeeze household budgets, with economists warning of a renewed cost of living crisis amid global energy market volatility.
Invitation Homes CEO says ban on institutional homebuying will bring down prices, but not immediately
Invitation Homes CEO says a recently passed ban on institutional homebuying will eventually lower prices but not immediately, citing mortgage volatility and construction costs as near-term obstacles.
UK plastic manufacturer could face legal action over toxic emissions
The UK Environment Agency is considering legal action against a plastic manufacturer in northern England over emissions of benzene, a carcinogenic chemical, with levels rising significantly in recent years.
Trump accuses oil companies of ‘making too much money’ from his war on Iran
Trump criticized major oil companies for excessive profits from energy market disruption caused by his war on Iran, calling on them to reduce consumer prices.
Why Texas is betting ‘Y’all Street’ can take on Wall Street
Goldman Sachs is building an 800,000-square-foot Dallas campus planned to open in 2028, symbolizing Wall Street’s expansion into Texas as major financial firms pursue lucrative clients relocating to the state.
Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn
HSBC reported £7.5bn in quarterly profits, prompting campaigners to renew calls for a UK bank windfall tax that could raise £19bn to fund cost of living measures.
Nike was once China’s sneaker king. Here’s why its sales have fallen 30%
Nike’s China sales have declined 30% since 2021 as domestic brands gain market share amid a nationalist consumer movement, while the company struggles with distribution complexity and lack of localized products.
Ferrari CEO says he ‘would not change anything’ about polarizing Luce EV debut
Ferrari’s CEO says the company is satisfied with the polarizing Luce electric vehicle launch this spring, despite initial market backlash and stock declines that have since recovered.
The economy slowed a bit — but Americans continued to spend
U.S. GDP grew at a 1.5% annual rate in the second quarter as consumer spending remained robust despite rising inflation and a slowdown from earlier in the year.
UEFA threatens World Cup boycott over FIFA private equity investment plan
UEFA threatens to boycott FIFA competitions including the World Cup if FIFA proceeds with a plan to sell a 20% stake to private equity investors, calling the proposal irresponsible.
Thames Water boss says leakage targets ‘not realistic’
Thames Water’s chief executive claims the company’s leakage and pollution targets are unrealistic, amid ongoing criticism of the water company’s environmental performance and financial troubles.
HSBC to close all branches and pull out of Australian retail banking market
HSBC is closing all 19 of its Australian branches and exiting retail banking over the next 18 months, selling its mortgage and loan portfolio to Blackstone.
UK manufacturing growth picks up as Trump tariff chaos eases
UK manufacturing output grew for the fourth consecutive month in July at the fastest pace in nearly two years, though geopolitical tensions and Middle East concerns weighed on business sentiment.
Visa to buy cybersecurity firm BioCatch for $2.4 billion amid surge in AI-powered scams
Visa is acquiring cybersecurity firm BioCatch for $2.4 billion to strengthen fraud detection capabilities as financial institutions face rising threats from AI-powered scams and account takeovers.
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