Trending Business News
Prioritise new jobs over green targets to win public contracts, firms told
The UK government is restructuring its £90 billion public procurement system to prioritize job creation and youth employment support over environmental and social targets for firms bidding on contracts.
Bank of America spends $250 million a year on GLP-1 drugs for its employees, CEO says
Bank of America spends over $250 million annually on GLP-1 weight loss drugs for its 211,000 employees, accounting for roughly 13% of total healthcare spending, CEO Brian Moynihan stated.
Salad and Go files for Chapter 11 bankruptcy after cyclospora fears worsened its challenges
Salad and Go filed for Chapter 11 bankruptcy and is closing all locations on Wednesday, citing strategic challenges, weakening demand, higher costs, and a cyclospora outbreak that damaged consumer confidence.
To keep growing, incoming Best Buy CEO says he first wants to go smaller
Incoming Best Buy CEO Jason Bonfig plans to expand the retailer’s reach by opening smaller-format stores ranging from 12,000 to 15,000 square feet in markets unable to support traditional locations.
McDonald’s names company veteran Skye Anderson as its U.S. president as growth in its largest market slows
McDonald’s names veteran Skye Anderson as U.S. president to drive growth, succeeding Joe Erlinger after six years in the role.
Procter & Gamble will acquire supplements brand Thorne for $3.8 billion, CEO tells CNBC
Procter & Gamble is acquiring supplement brand Thorne for $3.8 billion, expanding its health and wellness portfolio with a company founded in 1984 and currently generating over $500 million in annual revenue.
David Ellison breaks silence on Paramount-Warner Bros mega merger
Paramount Skydance CEO David Ellison defends his company’s $110bn takeover of Warner Bros. Discovery, arguing opposition relies on an outdated vision of Hollywood and that the merged entity would maintain competitive positioning against tech giants.
Lucid begins ‘operational reset’ as CEO says EV maker will delay midsize vehicle
Lucid Group announced a delayed midsize vehicle launch to 2027 and began an ‘operational reset’ to improve cash flow by $1.4 billion amid leadership changes.
Saudi-led group completes $55bn purchase of gaming giant EA
A Saudi-led investment group led by Public Investment Fund has completed a $55 billion acquisition of video game company Electronic Arts, taking the company private in what is considered the largest leveraged buyout in history.
Thames Water lenders preparing legal challenge to potential nationalisation
Thames Water lenders are preparing legal action against potential nationalisation by the incoming UK government, which has signaled intent to increase public control of water utilities.
Bank of England to stop accepting bonds linked to coal for key loans
The Bank of England will stop accepting bonds linked to thermal coal as collateral for commercial bank loans starting in October, citing financial risks from the global transition to cleaner energy.
Calls for guidance to help Jersey families claim back childcare costs
Jersey officials are calling for clearer guidance on the government’s childcare funding scheme after some families faced rejections for submitting invalid receipts.
West Midlands households welcome heating oil protection plan
The Competition and Markets Authority recommended enhanced protections for 1.5 million UK households relying on heating oil, following price spikes after February’s geopolitical conflict.
What is gazundering and how can it be avoided?
Gazundering, where buyers reduce agreed offers just before contracts are exchanged, is a growing problem in England and Wales, costing sellers millions annually and prompting calls for government reforms.
Euro Car Parks being investigated over petrol forecourt parking tickets
The UK’s Competition and Markets Authority is investigating Euro Car Parks over parking tickets issued to drivers queuing at petrol forecourts and the company’s appeals process.
SpaceX share price drops below stock market debut
SpaceX’s share price fell below its June IPO level of $135, dropping to $132.62 on Wednesday and down 41% from its post-float peak amid investor concerns.
China’s economy grows 4.3% in Q2, slowest since late 2022
China’s economy expanded 4.3% in the second quarter, marking its slowest pace in over three years as weak domestic spending and investment offset strong export growth driven by AI and electric vehicles.
American Airlines CEO lays out his vision to close a more than $3 billion profit gap
American Airlines CEO Robert Isom is pursuing a strategy to close a $3 billion profit gap with United and Delta through cabin upgrades, new aircraft orders, and premium service expansions.
After fixing its engine problems, Rolls-Royce is turning to its next big challenge
Rolls-Royce has resolved engine durability problems that plagued its Trent engines, with underlying profits soaring 40% to £3.5bn in 2025. The company now eyes re-entering the narrowbody jet engine market as its next major challenge.
Is Andy Burnham promising a new dawn for North Sea oil and gas?
Incoming Prime Minister Andy Burnham is expected to maintain Labour’s manifesto pledge against new oil and gas licences while taking a more pragmatic approach to North Sea development and existing operations.
‘Good growth in every postcode’: Burnham’s economic to-do list in seven charts
Andy Burnham becomes prime minister amid weak growth and regional inequality, pledging “good growth in every postcode” through reindustrialisation, devolution, and major spending commitments across defence, housing, and cost-of-living support.
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