Account

  Login
  Sign Up For Free

The Actual News

Just the Facts, from multiple news sources.

Business News

Business news, market updates, and economic developments

California billionaire tax proposal garners enough signatures to head to ballot

California billionaire tax proposal garners enough signatures to head to ballot

April 27, 2026 • Guardian World

Summary

A proposal to tax California billionaires 5% on their wealth has collected enough signatures to appear on the November ballot. Supporters say the tax will fund health services for low-income people, while opponents including tech leaders and Governor Newsom warn it could hurt the economy and cause billionaires to leave the state.

Key Facts

  • The measure would impose a one-time 5% tax on billionaires' assets like stocks, art, businesses, and intellectual property.
  • It targets billionaires living in California as of January 1 and aims to fund health care services cut by federal changes signed by President Trump.
  • Supporters include the Service Employees International Union and politicians like Senator Bernie Sanders and Representative Ro Khanna.
  • Opponents include tech billionaires and companies like Google, DoorDash, Reddit, LinkedIn, and Facebook, who have donated millions to fight the measure.
  • Governor Gavin Newsom opposes the tax, warning it could hurt California's economy and push billionaires out, which would reduce tax revenue.
  • California has the most billionaires of any state, with their income responsible for nearly half the state's personal income tax revenue.
  • More than 1.5 million signatures were collected, surpassing the 870,000 required to get the proposal on the ballot.
  • The California Business Roundtable fears the tax will lead to less investment, harm the economy, and increase costs for working families.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World Guardian US Guardian Tech
WATCH: Disney Week of Wishes grants dreams to families

WATCH: Disney Week of Wishes grants dreams to families

April 27, 2026 • ABC News

Summary

Disney and the Make-A-Wish Foundation have partnered for 46 years to grant dreams to children and families. Recently, a 16-year-old's wish to become a Disney animator was fulfilled during the Disney Week of Wishes event.

Key Facts

  • Disney and Make-A-Wish have worked together for 46 years.
  • The collaboration focuses on granting wishes to children with critical illnesses.
  • A recent wish involved a 16-year-old aspiring to be a Disney animator.
  • The wish was fulfilled during an event called Disney Week of Wishes.
  • The partnership creates opportunities for children and families to experience Disney in meaningful ways.
  • This initiative is part of Disney’s charitable activities to support children’s dreams.
  • The story highlights continued charitable efforts by Disney and Make-A-Wish in 2026.
Read the Original

Want the full story? Tap a source to open the original article.

ABC News
United Airlines CEO says he approached American Airlines about merger

United Airlines CEO says he approached American Airlines about merger

April 27, 2026 • CBS News

Summary

United Airlines CEO Scott Kirby said he reached out to American Airlines about a possible merger between the two companies. American Airlines rejected the idea, and the plan faces likely government review because some lawmakers worry it could reduce competition and harm customers.

Key Facts

  • United Airlines CEO Scott Kirby confirmed he approached American Airlines to discuss a merger.
  • American Airlines said it is not interested in any merger talks with United.
  • Kirby believes the merger would create more jobs, improve customer service, and help compete with foreign airlines.
  • The idea of the merger was previously mentioned to officials during President Donald Trump’s administration.
  • U.S. senators Elizabeth Warren and Mike Lee warned that merging the two airlines could reduce competition and hurt consumers.
  • Kirby said the merger would add value rather than take away services.
  • The merger would face careful review by government regulators before it could happen.
  • Both airlines did not immediately respond to further requests for comment.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
How States are Cracking Down on Rich as California Tax Reaches Milestone

How States are Cracking Down on Rich as California Tax Reaches Milestone

April 27, 2026 • Newsweek

Summary

A proposal to tax billionaires in California has gathered enough signatures to be voted on by state residents in November. The plan would impose a one-time 5% tax on people with assets over $1.1 billion, aiming to reduce wealth inequality and raise about $100 billion.

Key Facts

  • The California Billionaire Tax proposal was led by the SEIU-UHW labor union.
  • It requires a 5% one-time tax on assets above $1.1 billion for California residents.
  • Over 1.6 million signatures were collected, double the amount needed to qualify for the ballot.
  • The proposal faces opposition from Governor Gavin Newsom and Silicon Valley leaders.
  • Wealth inequality in the U.S. has grown, with the top 1% owning nearly 32% of the nation’s wealth in late 2025.
  • Billionaire wealth increased three times faster than average incomes from 2020 to 2025.
  • The tax is expected to raise about $100 billion, potentially offsetting healthcare budget cuts from the Trump administration.
  • Other states like Connecticut are also considering new taxes targeting wealthy individuals.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
'Michael' vs 'Bohemian Rhapsody': Reviews, Box Office and Oscars

'Michael' vs 'Bohemian Rhapsody': Reviews, Box Office and Oscars

April 27, 2026 • Newsweek

Summary

The movie "Michael," a biopic about Michael Jackson starring his nephew Jaafar Jackson, opened with $217 million worldwide, setting a new record for music biopics despite mixed to negative reviews. The film covers Jackson’s life up to 1988 and has been compared to the 2018 biopic "Bohemian Rhapsody," which had a smaller box office opening and slightly better critical reviews.

Key Facts

  • "Michael" opened with $217 million worldwide and $97 million in the U.S., a record for music biopics.
  • The film stars Jaafar Jackson, Michael Jackson’s nephew, and is co-produced by the Jackson family estate.
  • Critics gave "Michael" mostly negative reviews, with a 38% critic score on Rotten Tomatoes but a 97% audience score.
  • The movie covers Jackson’s life until 1988, before allegations of child abuse surfaced publicly.
  • "Michael" has been criticized for ignoring difficult parts of Michael Jackson’s life.
  • "Bohemian Rhapsody" (2018), about Freddie Mercury, had a $124 million opening worldwide and received better critic reviews (60% on Rotten Tomatoes).
  • Both films are noted for glossing over complex or darker aspects of their subjects’ lives.
  • "Michael" has surpassed "Bohemian Rhapsody" in box office opening both globally and domestically.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
Goldman raises oil price forecasts as Iran war deadlock continues; Shell buying Canada’s ARC in $13.6bn deal – business live

Goldman raises oil price forecasts as Iran war deadlock continues; Shell buying Canada’s ARC in $13.6bn deal – business live

April 27, 2026 • Guardian Business

Summary

Goldman Sachs raised its forecast for oil prices due to ongoing disruptions in Middle East oil production. It now expects Brent crude to reach about $90 per barrel in late 2024, higher than its previous estimate of $80, citing lower output from the Persian Gulf.

Key Facts

  • Goldman Sachs increased its Brent crude price forecast to $90 per barrel for the last quarter of 2024, up from $80.
  • US crude is expected to average $83 per barrel in October-December, up from an earlier forecast of $75.
  • The forecast change is due to a deadlock in the Middle East that has reduced Persian Gulf oil production by 14.5 million barrels per day.
  • Global oil inventories have seen a record drop of 11 to 12 million barrels per day because of this supply disruption.
  • Goldman expects global oil demand to fall in 2026 because higher prices will reduce usage.
  • They outlined three future price scenarios based on how quickly Persian Gulf exports return and whether production capacity is permanently damaged: adverse (over $100), severely adverse (nearly $120), and benign (under $80).
  • Separately, Shell announced it is buying Canada's ARC Resources for $13.6 billion in a major oil deal.
  • Shipping traffic through the Strait of Hormuz, a key oil route, remains low due to the conflict.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian Business
America cannot afford to wait for a new Fed chair — confirm Kevin Warsh now

America cannot afford to wait for a new Fed chair — confirm Kevin Warsh now

April 27, 2026 • The Hill

Summary

The article urges the Senate to quickly confirm Kevin Warsh as the new chairman of the Federal Reserve. It argues that acting fast will help rebuild trust in the U.S. dollar, the Federal Reserve, and the country's long-term economic plans.

Key Facts

  • Kevin Warsh is a candidate to become the next chairman of the Federal Reserve.
  • The Federal Reserve is the U.S. central bank that manages the economy.
  • Confirming a new Fed chair is the Senate's responsibility.
  • The article calls for no delay in the confirmation process.
  • Restoring trust in the dollar and the Fed is presented as a reason for urgency.
  • The economic direction of the country depends partly on the Fed’s leadership.
Read the Original

Want the full story? Tap a source to open the original article.

The Hill
Map Shows Where Baby Boomers Hold Most Real Estate

Map Shows Where Baby Boomers Hold Most Real Estate

April 27, 2026 • Newsweek

Summary

Older Americans own about one-third of the houses in the U.S., especially in warm coastal areas like Florida and Arizona. As many plan to sell or pass on their homes, younger generations may not want to live in all these places, which could affect local housing markets.

Key Facts

  • Americans over 65 make up 18% of the U.S. population but own around 33% of all housing units (about 29.6 million homes).
  • Most older homeowners live in warm or coastal areas, with Florida having 7 of the top 10 metro areas with the highest share of older homeowners.
  • The metro area Wildwood-The Villages in Florida has the highest share of homes owned by people over 65, at 68.2%.
  • Younger people might not want to move into many areas where older homeowners live because of fewer job opportunities and higher costs.
  • The transfer of wealth and property from older generations to younger ones is called the “Great Wealth Transfer,” expected to be worth up to $124 trillion by 2048.
  • Some areas with many older homeowners face risks of too many homes being for sale if younger people do not move in, causing a housing surplus.
  • Large cities like New York and Los Angeles have strong housing demand from younger people, but older Americans own fewer homes there, so their selling won’t greatly affect the market.
  • Some cities like Raleigh have a good mix of older and younger residents, which might balance housing demand better.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
How carbon removal tech is adapting to Trump's energy agenda

How carbon removal tech is adapting to Trump's energy agenda

April 27, 2026 • Axios

Summary

The carbon removal industry is adjusting its approach to gain support from President Donald Trump’s administration by linking its work to energy dominance rather than just fighting climate change. Two major carbon removal projects approved during the Biden administration have been allowed to continue under Trump, showing that the industry is trying to fit into the current government’s priorities.

Key Facts

  • The carbon removal industry captures carbon dioxide from the air and stores or uses it to help reduce global warming.
  • Under President Trump, the industry is emphasizing its role in supporting U.S. energy dominance and economic growth.
  • Two big carbon removal hubs, one in Louisiana (a joint venture between Heirloom and Climeworks) and another in Texas, recently received federal approval to move forward.
  • These hubs could get around $600 million each in funding.
  • The industry argues it could eventually operate without government subsidies, similar to fracking or nuclear energy.
  • Some local communities in Louisiana support the projects for job creation, while others oppose them over environmental and safety concerns.
  • The Energy Department reviewed over 2,000 carbon removal projects to decide which align with Trump’s goals of benefiting American taxpayers, ratepayers, and national security.
  • Microsoft, a major voluntary supporter of the industry, has paused new purchases of carbon removal services during this period of review.
Read the Original

Want the full story? Tap a source to open the original article.

Axios
Big companies position themselves for payday from $50B federal rural health fund

Big companies position themselves for payday from $50B federal rural health fund

April 27, 2026 • CBS News

Summary

Congress set aside $50 billion to improve healthcare in rural America through the Rural Health Transformation Program. This money aims to help rural health centers, but much of it appears to be going to large companies for technology upgrades rather than directly supporting local clinics and patients.

Key Facts

  • The Rural Health Transformation Program is part of a law that also cut nearly $1 trillion from Medicaid over ten years.
  • Open Door Community Health Centers serve about 60,000 patients in rural Northern California, half of whom rely on Medicaid.
  • Many states received large awards from the program, ranging from $147 million to $281 million.
  • Most of the funding is planned to be spent on electronic health records, cybersecurity, and health technology upgrades.
  • Large coalitions of companies are offering services to states to manage the new funds and projects.
  • The program limits the amount of funding that can go directly to healthcare providers to 15% per state award.
  • States must meet strict deadlines for spending and reporting or risk losing their funds.
  • Some states have not yet had their budgets fully approved by federal regulators.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Prediction markets in hot seat over rogue bettors and insider trading

Prediction markets in hot seat over rogue bettors and insider trading

April 27, 2026 • CBS News

Summary

Prediction markets, where people bet on future events, are facing questions about fairness and insider trading. Some companies operate with strong rules and ID checks, while others allow anonymous betting using cryptocurrency. Regulators are considering tighter controls as cases of possible cheating come to light.

Key Facts

  • Prediction markets let people bet on events like elections or military actions.
  • Concerns have grown over insider trading, where people use secret information to win bets.
  • Polymarket mainly operates outside the U.S., uses cryptocurrency, and allows users to stay anonymous.
  • Kalshi is regulated in the U.S., requires ID verification, and follows anti-crime rules.
  • An army special forces soldier was arrested for allegedly betting on Venezuela’s leader’s capture using insider information.
  • Kalshi rejected this soldier’s bets and bans insider trading, while Polymarket reported suspicious activity to authorities.
  • Israeli soldiers were also arrested for trading on secret military information.
  • Some U.S. politicians were found to have bet on their own elections using prediction markets.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
HSBC ‘reviewing’ private school perk for bankers in Hong Kong

HSBC ‘reviewing’ private school perk for bankers in Hong Kong

April 27, 2026 • Guardian World

Summary

HSBC is considering changes to a benefit that pays for school fees for some bankers in Hong Kong as part of a major reorganization under CEO Georges Elhedery. The bank has not decided yet and the benefit costs tens of millions of dollars annually.

Key Facts

  • HSBC is reviewing a perk that pays most of the school fees for mid and top-level bankers’ children in Hong Kong.
  • The subsidy covers 95% of fees up to HK$220,000 for primary and HK$300,000 for secondary school children.
  • Hundreds of HSBC staff in Hong Kong receive this benefit, which does not exist in other HSBC global hubs.
  • The perk is not available to workers at Hang Seng Bank, which HSBC fully bought in January 2024.
  • School fees in Hong Kong have increased since the Covid pandemic, with some schools planning a 4.1% fee rise.
  • CEO Georges Elhedery began leading HSBC in 2024 and is focused on cutting costs and simplifying the bank.
  • HSBC makes most of its profits in Hong Kong and China and aims to expand in Asia.
  • The bank was founded in 1865 to support trade between Europe and Asia and is a major bank in Hong Kong.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World
Elon Musk and Sam Altman face off in court over OpenAI’s founding mission

Elon Musk and Sam Altman face off in court over OpenAI’s founding mission

April 27, 2026 • Guardian Tech

Summary

Elon Musk and Sam Altman are in a legal fight in California over OpenAI, the artificial intelligence company they started together. Musk says Altman broke their original agreement by turning OpenAI into a for-profit business, while Altman and OpenAI deny this and say Musk agreed to the change.

Key Facts

  • The lawsuit started on Monday in a federal court in Oakland, California.
  • Musk accuses Altman, OpenAI leaders, and Microsoft of breaking their contract and unfairly gaining money.
  • Musk wants Altman and OpenAI’s president removed and asks for over $134 billion in damages.
  • OpenAI was founded in 2015 as a non-profit organization by Altman, Musk, and others.
  • Musk gave about $38 million to OpenAI but left its board in 2018 after disagreements.
  • OpenAI later created ChatGPT and raised billions from Microsoft.
  • In 2025, OpenAI changed its main business to a for-profit company with regulatory approval.
  • OpenAI counters that Musk’s money was a donation, not an investment, and that he agreed to the business becoming for-profit in 2017.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian Tech
Less bread and WFH Fridays – what Pret boss knows about our habits

Less bread and WFH Fridays – what Pret boss knows about our habits

April 27, 2026 • BBC Business

Summary

The boss of Pret A Manger shared how customer habits have changed, such as eating more salads and working from home on Fridays. Pret faces challenges like inflation and competition but has adapted with a new subscription model and meal deals to offer better value.

Key Facts

  • Customers are eating less bread and more salads, with Pret’s larger “Super Plates” salads selling 40% more than expected.
  • Bread-based items still make up over half of the top 20 best-selling Pret products.
  • Pret’s subscription plan costs £5 per month and offers up to five half-price drinks daily; sign-ups rose by nearly 25% last year.
  • Pret competes with other chains like Costa that offer loyalty rewards and meal deals for good value.
  • Fridays are quieter in Pret stores due to more people working from home after the pandemic.
  • Pret stores will stay open at least five days a week, but the exact days depend on location and demand.
  • Challenges for Pret include inflation, impacts of the Autumn Budget, and changes in commuting habits.
  • The effect of weight-loss drugs on food portion preferences is uncertain, but some firms are considering it.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business BBC Top Stories
Nationwide could have first customer on board for nearly 25 years

Nationwide could have first customer on board for nearly 25 years

April 27, 2026 • Guardian World

Summary

James Sherwin-Smith has secured enough member nominations to run for a seat on Nationwide Building Society’s board, potentially becoming the first customer to join the board in 24 years. The society’s board usually appoints members internally, and Nationwide has not yet decided whether it will recommend Sherwin-Smith’s election at the annual meeting in July.

Key Facts

  • James Sherwin-Smith gathered over 250 nominations, the minimum required to appear on Nationwide’s board election ballot.
  • If elected, he would be the first Nationwide customer on the board since 2002.
  • Nationwide’s board members are typically chosen by current directors, not by member vote.
  • The last member-nominated customer on the ballot was in 2005 but was not elected.
  • Sherwin-Smith and others have criticized Nationwide for limiting member influence, especially after the purchase of Virgin Money in 2024 without a member vote.
  • Nationwide has 17 million members and £377 billion in assets.
  • Sherwin-Smith is a financial technology adviser and investor, and he may give up those roles to qualify for the board.
  • Nationwide will decide soon if it will recommend Sherwin-Smith to members before the annual general meeting on July 15.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World
Taiwan court hands down jail terms in TSMC trade secrets case

Taiwan court hands down jail terms in TSMC trade secrets case

April 27, 2026 • Al Jazeera

Summary

A court in Taiwan fined Tokyo Electron’s local branch $5 million and sentenced five people to prison for stealing trade secrets from chipmaker TSMC. The case involved sensitive computer chip technology and national security charges.

Key Facts

  • The case centers on the theft of TSMC’s advanced computer chip technology.
  • Five defendants were sentenced to jail terms, with the longest being 10 years.
  • Tokyo Electron’s local unit was fined $5 million by the court.
  • Chen Li-ming, a former employee of both TSMC and Tokyo Electron, received a 10-year prison sentence.
  • Other former TSMC employees were sentenced to 2 to 6 years in prison.
  • One former Tokyo Electron employee was given a 10-month suspended sentence.
  • The case was heard in New Taipei City, Taiwan.
  • Tokyo Electron and TSMC have not yet commented on the court’s ruling.
Read the Original

Want the full story? Tap a source to open the original article.

Al Jazeera
Dozens of toys recalled in the UK after asbestos found in play sand

Dozens of toys recalled in the UK after asbestos found in play sand

April 27, 2026 • Guardian World

Summary

More than 30 children’s toys sold in the UK have been recalled because they contained asbestos in the play sand. The asbestos was found in products from several retailers, leading to safety concerns and calls for better testing and regulation.

Key Facts

  • Over 30 toys in the UK were recalled due to asbestos contamination in play sand.
  • Products affected include craft kits, candle-making kits, and stretchy rubber toys sold by stores like Hobbycraft, Tesco, Primark, Matalan, and M&S.
  • Asbestos is banned in the UK as it can cause cancer when inhaled.
  • The contaminated sand mainly came from mines in China where asbestos occurs naturally.
  • Initial safety tests missed asbestos, but more reliable labs later found contamination.
  • The UK government says companies must ensure product safety and report hazards, especially after Brexit reduced some government powers.
  • Consumer groups and campaigners say the UK’s safety checks are failing and want more government action.
  • Hobbycraft issued recalls and advised customers how to safely dispose of affected products after asbestos was discovered.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World
Average rent up to nearly £1,000 in Plymouth

Average rent up to nearly £1,000 in Plymouth

April 27, 2026 • BBC Business

Summary

Rents in Plymouth have risen sharply, from around £740 in 2021 to nearly £1,000 in 2026, causing difficulties for many people to afford housing. There are plans to build 10,000 new homes in the city centre, but concerns remain about the availability of genuinely affordable housing.

Key Facts

  • Average private rent in Plymouth increased by more than 30% in five years, reaching £975 in March 2026.
  • More than 7,000 people are on the waiting list for social housing in the Plymouth area.
  • The rising rent and cost-of-living crisis are making it harder for people on low incomes to find housing.
  • Plymouth City Council and the government agency Homes England plan to build over 10,000 new homes in the city centre.
  • Plans include creating taller buildings to increase housing density in the city centre.
  • Affordable housing is usually negotiated during development but often remains close to market prices, limiting access for low-income renters.
  • A charity leader highlighted the shortage of truly affordable housing and the high competition for available rentals.
  • Some landlords report that changes in rental laws have made it less appealing to rent out properties, reducing the private rental supply.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business
'I don't want the children to see how worried we are': UK family finances hit by Iran war

'I don't want the children to see how worried we are': UK family finances hit by Iran war

April 27, 2026 • BBC Business

Summary

The war involving Iran has caused fuel and energy prices to rise in the UK, making it harder for families to afford everyday expenses. A family in Lancashire shared how higher diesel costs have increased their travel expenses, especially for medical visits, and they expect future energy bills to go up as well.

Key Facts

  • Fuel prices in the UK have increased sharply since the Iran war began on February 28.
  • Diesel prices rose by 35% and petrol by 19% in nearly two months.
  • Filling a family van with diesel now costs about £27 more than before.
  • Increased travel costs are hitting families who need to make long trips for medical care.
  • UK household energy bills are protected by a price cap but it is expected to rise by about 12% around July.
  • The Strait of Hormuz, a key route for global oil transport, is mostly closed due to the conflict.
  • The closure has reduced oil and gas supply, pushing up international energy prices.
  • Rising fuel and energy prices are expected to lead to higher food costs, putting more pressure on household budgets.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business BBC Top Stories
From Australia to Vietnam, the Iran war is fuelling demand for EVs

From Australia to Vietnam, the Iran war is fuelling demand for EVs

April 27, 2026 • Al Jazeera

Summary

The recent conflict involving the United States and Israel against Iran has caused fuel prices to rise worldwide. This has led to increased demand for electric vehicles (EVs) in many countries, pushing up prices and sales of EVs, especially in markets like the US, China, Vietnam, Japan, and Australia.

Key Facts

  • Since the US and Israel’s war on Iran started, demand for used electric vehicles has increased, with prices rising by 10-20% in some cases.
  • China saw an 82.6% increase in EV sales in March 2025 compared to the previous month.
  • US EV sales reached over 82,000 units last month, up 20% from February 2025 but still down compared to last year.
  • Vietnam’s local EV brand Vinfast reported a 127% increase in sales year-on-year for March.
  • Japan’s EV sales nearly tripled year-on-year last month, while South Korea’s domestic EV purchases surged by 172%.
  • European countries like France, Norway, Sweden, and Denmark also saw large increases in Tesla car registrations.
  • In Australia, electric vehicles made up 14.6% of total vehicle sales in March, almost double the share from the previous year.
  • Higher fuel prices have resulted in more people visiting EV showrooms and waiting to buy electric cars, causing stock shortages.
Read the Original

Want the full story? Tap a source to open the original article.

Al Jazeera