Business News

After Katrina, a Mississippi businessman invests in a restaurant and in a community

August 28, 2025

A businessman named Ron Ladner invested in a restaurant and the local community in Pass Christian, Mississippi, after Hurricane Katrina caused severe damage there. He aimed to help the area recover and rebuild following the disaster.

Key Facts:

Hurricane Katrina caused major destruction in Pass Christian, Mississippi.
Ron Ladner is a business owner who invested in the town after the hurricane.
Ladner focused his investment on a restaurant and the wider community.
His efforts were part of the town's larger recovery process.
The investment aimed to support economic and community rebuilding in Pass Christian.

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NPR National

How rare earth shortages are stalling India’s burgeoning EV sector

August 28, 2025

A shortage of rare-earth metals has affected the production of Bajaj Auto's Chetak electric scooters in India. This shortage is due to export restrictions by China and is impacting the broader electric vehicle (EV) sector in India. Companies are trying to adapt by redesigning products and sourcing materials differently.

Key Facts:

Bajaj Auto's production of the Chetak electric scooter was cut nearly in half in July due to rare-earth metal shortages.
Rare-earth metals include 17 elements like dysprosium and terbium and are mainly processed in China.
China introduced export restrictions on rare-earth metals after the United States announced tariffs.
Bajaj Auto redesigned some motors to use lighter rare-earth magnets to counter the shortage.
The shortage affects the entire automobile industry in India, which relies heavily on these metals.
India’s EV sales were over 2 million in 2024, a 24% increase from 2023.
Electric car sales in India more than doubled their market share from 1% to 2.6% recently.

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Al Jazeera

Is Trump taking control of Corporate America?

August 27, 2025

The U.S. government has invested in Intel, a major chip-making company, to boost domestic technology production and lessen dependence on China. This is the largest move by the government in the private sector since 2008, sparking debate over government involvement in business.

Key Facts:

The U.S. has invested in Intel to increase chip production within the country.
This aims to reduce dependence on China's chip supply.
The move is the biggest government intervention in a private company since the 2008 financial crisis.
Supporters believe it will secure jobs and protect national security.
Critics worry about increased government control over businesses.
The article also mentions Bangladesh struggling with the costs of hosting Rohingya refugees.
Additionally, it notes that meat prices have reached record highs.

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Al Jazeera

From boom to ban: The rise and fall of India's betting apps

August 27, 2025

India has banned money-based online games, which include apps where players bet real money on games like poker and fantasy sports. The government says the ban is to protect people from gambling-related problems, but it affects a fast-growing industry that supported many jobs and businesses.

Key Facts:

India has passed a law to ban all real-money online games to protect consumers from gambling issues.
People who offer these services could face up to three years in jail and fines; users are not punished.
Before the ban, the industry had about 400 startups and contributed around $2.3 billion in taxes annually.
Companies like Dream11, once a major cricket team sponsor, have ceased their real-money operations.
The government claims online betting affected 450 million people and caused significant financial losses.
Some industry members argue the ban was imposed too quickly and without proper discussion.
The new law does not differentiate between "games of skill" and "games of chance," despite past legal decisions supporting skill games.
This is India's first national law targeting online betting, though some states already had their own bans.

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BBC World

Value of small parcels from China to UK doubles to £3bn as Shein sales soar

August 27, 2025

The value of small parcels shipped from China to the UK has risen to £3 billion, mainly because of sales from companies like Shein and Temu. These parcels often avoid import taxes under current UK rules. The UK government is looking into these rules as local businesses express concerns about unfair competition.

Key Facts:

Small parcels from China to the UK reached a value of £3 billion last year, more than double the previous year.
Companies like Shein and Temu are major contributors to this increase with their low-priced products.
Current UK rules allow small packages under £135 to avoid import taxes.
Local business owners are calling for quick changes to protect UK retailers from being underpriced by international sellers.
These Chinese parcels make up 51% of all small parcel imports to the UK, up from 35% the previous year.
Concerns include the impact on local businesses and the influx of potentially unsafe goods.
The UK government is reviewing these import tax exemptions following calls from major retailers for action.
Shein and Temu have been questioned by MPs about labor standards for their products.

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BBC Business

How tariffs are expected to shape holiday shopping sales

August 27, 2025

A Wells Fargo report suggests that tariffs on imports could affect U.S. holiday shopping by changing prices, reducing product variety, and affecting sales promotions. Retailers have adjusted their inventory strategies to manage potential tariff impacts, leading to possible higher prices and fewer choices for consumers.

Key Facts:

Wells Fargo's report discusses how tariffs might affect U.S. holiday shopping.
Retailers imported goods early to avoid higher tariff costs.
Some stores ordered less, focusing on popular items to manage expenses.
Retailers may reduce promotions instead of increasing prices on everything.
The effects of tariffs might include higher prices on items like clothes and furniture.
Holiday promotions might start earlier in September or October to spread out demand.
There may be fewer product choices as retailers aim to control costs.

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Axios

What the Cracker Barrel backlash reveals about the power of branding

August 27, 2025

Cracker Barrel started a $700 million rebranding effort that faced strong criticism from both customers and investors. The company's new design and logo were not well-received because people felt it didn't match Cracker Barrel's traditional, nostalgic image. As a result, Cracker Barrel decided to change its plans.

Key Facts:

Cracker Barrel launched a rebranding initiative costing nearly $700 million.
The rebranding included a new text-only logo and modern design changes.
Customers and investors criticized the new look as being too modern and lacking nostalgia.
Cracker Barrel is known for its nostalgic and traditional style.
The backlash led Cracker Barrel to reconsider its rebranding strategy.
A marketing professor from the Wharton School discussed the issue with Geoff Bennett.
Cracker Barrel is addressing both consumer expectations and business strategy.

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PBS NewsHour

Nvidia’s latest quarter shows signs of AI chip sales slump amid concerns of tech bubble

August 27, 2025

Nvidia's recent quarterly report showed an increase in sales of its AI chipsets, but sales were slightly lower than analysts expected. Despite this, Nvidia's total profits and revenue exceeded predictions, but concerns about a slowing AI market affected the company's stock price. The U.S. government's previous sales ban on Nvidia’s AI chips in China also impacted sales.

Key Facts:

Nvidia's AI chip sales grew 56% compared to the previous year.
AI chip sales for the quarter reached $41.1 billion, just below the $41.3 billion forecast.
Nvidia's total revenue was $46.7 billion, which was 56% higher than last year.
The company's profit was $26.4 billion, higher than analysts predicted.
Nvidia's stock price slipped 2% in extended trading after the earnings report.
A U.S. ban on AI chip sales to China affected Nvidia's sales by about $8 billion.
Nvidia forecasts $54 billion in revenue for the next quarter, slightly above analyst expectations.
Nvidia executives remain confident in future AI investment growth.

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PBS NewsHour

What happens when the federal government owns part of a company?

August 27, 2025

The article discusses what happens when the federal government owns a part of a company. It focuses on President Trump's idea of the government taking a 10% stake in the tech company Intel and includes an interview with Michael Strain, who has a differing view.

Key Facts:

The article is about the U.S. government's involvement in private companies by owning shares.
President Trump wants the government to own a 10% stake in Intel.
The article features a discussion with Michael Strain from the American Enterprise Institute.
The conversation centers on potential impacts on the company and the country.
Michael Strain has a different opinion from President Trump on this ownership idea.
The article is published by NPR and includes an audio segment for listeners.

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NPR Business

Solar-powered postboxes being rolled out across UK

August 27, 2025

Royal Mail is adding 3,500 solar-powered postboxes across the UK. These new postboxes aim to help the company compete better with other delivery services. The design features solar panels and a digital drawer for small parcels.

Key Facts:

Royal Mail is installing 3,500 solar-powered postboxes in the UK.
The new postboxes have solar panels and a drawer for small parcels.
Items as big as a shoebox can fit in these postboxes.
This is the biggest redesign in Royal Mail's 175-year history.
The change follows a successful trial in Hertfordshire and Cambridgeshire.
The postboxes will first appear in cities like Edinburgh, Nottingham, Sheffield, and Manchester.
A barcode scanner lets customers use an app for proof of posting and tracking.
The rise of online shopping is driving the shift to more convenient parcel services.

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BBC Business

Taylor Swift's engagement ring, and the celebrity trend for big rocks

August 27, 2025

Taylor Swift announced her engagement to Travis Kelce on Instagram, showcasing a large vintage-style engagement ring. The ring follows a celebrity trend toward large and unique engagement rings, with experts noting such rings can be very costly. This trend includes both natural and lab-grown diamonds, with an increased demand for lab-grown stones due to cost and ethical considerations.

Key Facts:

Taylor Swift got engaged to Travis Kelce and shared pictures of her engagement ring on Instagram.
The ring is estimated to cost between £500,000 and £4 million.
It features a vintage-style diamond, which is part of a current trend towards big stones in unique settings.
These trends show that celebrities prefer standout, statement pieces for their engagement rings.
Lab-grown diamonds are growing in popularity for rings, making up about 52% of the market.
Some people choose lab-grown diamonds for ethical reasons, although they can be energy-intensive to produce.
There is a market interest in finding more affordable alternatives to high-cost celebrity rings.

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BBC World

Lisa Cook's fate heads to court

August 27, 2025

Federal Reserve governor Lisa Cook might file a lawsuit regarding her dismissal, which could impact the president's control over the Federal Reserve. The case could also affect the Fed's traditional independence, as it determines Cook's ability to continue her role and participate in critical policy decisions.

Key Facts:

Lisa Cook, a Federal Reserve governor, plans to file a lawsuit about her dismissal.
The lawsuit could impact the president’s control over the Federal Reserve.
Decisions in the case might affect the Fed's independence.
Courts may need to decide if Cook can continue her duties during the case.
The outcome of the case could alter the structure of the Fed’s Board of Governors.
Cook's lawsuit seeks permission to remain in her post as the case proceeds.
The Trump administration cites mortgage fraud accusations as the reason for Cook's dismissal.
No formal charges have been made against Lisa Cook.

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Axios

Ryanair to increase oversized bag bonus

August 27, 2025

Ryanair plans to increase the bonus for its workers who identify passengers with cabin bags that are too big. The bonus will rise from €1.50 to €2.50 starting in November. The airline uses this incentive to make sure passengers follow baggage size rules.

Key Facts:

Ryanair will raise the bonus for workers spotting oversized cabin bags from €1.50 to €2.50.
The change will start in November.
The bonus encourages passengers to adhere to baggage size limits.
Passengers with oversized bags can be charged a fee up to £75.
The size limit for a small carry-on bag is currently 40cm x 20cm x 25cm and 10kg.
This size limit will change to 40cm x 30cm x 20cm in September due to new EU rules.

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BBC Business

NHS to lose out on new drugs, pharma firm warns

August 27, 2025

Swiss pharmaceutical company Novartis warns that NHS patients in the UK may lose access to new medicines because of high costs and outdated pricing assessments. After negotiations between the UK government and pharma firms broke down, Novartis stated that it is not considering further investment in the UK. The company criticized the current system that requires high rebate payments on drug sales, which it claims makes the UK less competitive.

Key Facts:

Novartis, a Swiss pharmaceutical giant, claims NHS patients might miss out on new treatments due to high costs.
The company says current methods for evaluating drug prices in the UK are outdated.
The UK has a tax system where pharmaceutical firms must pay 23.5% of their income from NHS sales above a certain limit.
Novartis has pulled back from launching several new medicines in the UK due to market competitiveness issues.
The UK government proposed an offer to reduce payment rates for drug companies, but negotiations failed.
Nice, the UK body, assesses drug value using a system that has not been updated since 1999.
Novartis argues that the assessment thresholds have not kept pace with inflation.
The pharmaceutical industry believes a solution to the pricing dispute is still possible.

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BBC Business

Patients struggle to get weight loss drug ahead of price rise

August 27, 2025

Patients trying to get the weight-loss drug Mounjaro are facing difficulties due to increased demand and an impending price rise. The manufacturer, Eli Lilly, is raising the price by up to 170%, causing short-term supply issues. Pharmacies are advising patients to avoid stockpiling the drug.

Key Facts:

Patients are struggling to get Mounjaro, a weight-loss drug, as demand rises before a price increase.
Eli Lilly, the drug's manufacturer, announced that prices will go up by up to 170% starting 1 September.
UK pharmacies are prioritizing patients already using the drug and expect normal supply soon.
A UK patient, Lynne Massey-Davis, shared her struggle to obtain the drug, affecting her health routine.
The National Pharmacy Association reported increased demand and supply pressures due to the price hike.
Pharmacies urge patients not to bulk buy or use unlicensed sellers due to safety risks.
There's advice for patients to consider alternative weight-loss drugs only with medical advice.

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BBC Top Stories

Trump’s India tariffs take effect: Which sector will be hit, what’s exempt?

August 27, 2025

A 50 percent tariff imposed by U.S. President Donald Trump on Indian goods has taken effect, impacting trade and potentially thousands of jobs in India. The new tariff targets numerous sectors, including textiles and jewelry, while Indian pharmaceuticals are exempt due to their importance in the U.S. market. The Indian government is taking steps to boost domestic production and mitigate these effects.

Key Facts:

The U.S. imposed a 50 percent tariff on Indian goods, effective from Wednesday.
Affected sectors include gems, jewelry, textiles, footwear, and chemicals.
Indian exports to the U.S. could drop significantly from $86.5 billion to $50 billion by 2026.
Indian pharmaceuticals, an important supplier to the U.S., are exempt from these tariffs.
The Indian government aims to increase self-reliance and boost local production.
India is implementing tax cuts and other measures to support affected industries.

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Al Jazeera

'KPop Demon Hunters' and Conan Gray set new benchmarks on the charts

August 27, 2025

KPop Demon Hunters and Conan Gray are making a significant impact on the Billboard 200 albums chart. Conan Gray's new album, Wishbone, has reached No. 3, marking his highest placement yet, while KPop Demon Hunters achieved the notable feat of having four top 10 singles from a soundtrack simultaneously.

Key Facts:

Conan Gray's album Wishbone entered the Billboard 200 chart at No. 3.
Conan Gray is a former YouTube star who has become a well-known pop singer.
KPop Demon Hunters is a soundtrack that has four singles in the top 10 at the same time.
Morgan Wallen's album I'm the Problem is currently No. 1 on the Billboard 200 chart.
Billie Eilish's album climbed to No. 6 after releasing a special vinyl edition.
Taylor Swift's album re-entered the top 10, moving from No. 18 to No. 10.
KPop Demon Hunters might soon reach No. 1 due to a recent CD release and successful theatrical edition.

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NPR News

Trump not looking at taking stake in Nvidia, Bessent says

August 27, 2025

The Trump administration is not planning to invest in Nvidia but is looking to support other industrial companies. Treasury Secretary Scott Bessent mentioned that the focus is on industries where the U.S. wants to be self-sufficient.

Key Facts:

The Trump administration does not intend to invest in Nvidia.
The government is looking to invest in various industrial companies.
This approach follows similar actions taken with companies like Intel.
The intent is to establish U.S. self-sufficiency in critical industries.
Investors are uncertain about which companies and industries will be targeted for investment.
Industries such as shipbuilding are being considered for investment.

Source Information

Axios

Four ways to keep your energy bills down

August 27, 2025

Energy prices in the UK are set to rise again in October. The article provides tips for managing energy costs, such as switching to fixed rates, paying by direct debit, checking for financial support, and reviewing energy usage.

Key Facts:

Energy prices in the UK are increasing by about £35 a year for a typical household due to a rise in the price cap.
Ofgem suggests consumers consider switching to fixed rate plans, which could be cheaper than variable rates.
Switching to a fixed deal might save an average household £250 over the next year.
Direct debit payments could offer cost savings and are often required for fixed rate deals.
Customers on prepayment schemes pay 3% less than the capped variable rate.
Financial support is available for low-income households, including discounts on bills and grants.
It's important to review energy usage, especially with colder weather approaching, to manage bills effectively.

Source Information

BBC Business

Exclusive: Lower-income, Gen Z people are investing at record rates, data shows

August 27, 2025

New research from the JPMorganChase Institute shows that more young people and those with lower incomes are investing in the stock market. This trend coincides with fewer young people owning homes, indicating a potential shift in how younger generations plan to build wealth.

Key Facts:

Younger and lower-income individuals are investing in the stock market more than before.
As of early 2025, lower-income earners were five times more likely to invest compared to a decade ago.
About one-third of 25-year-olds have investment accounts, a significant increase since 2015.
There is a slight increase in the gap between men and women investing, seen around November 2024.
Personal savings remain low, even as investing rates rise.
The pandemic, accessible technology, and high asset prices have contributed to the rise in investing.
Younger and lower-income investors tend to respond quickly to market price changes.
Traditional advice encourages regular, steady investing rather than reacting to market trends.

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Axios

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