The number of heat pumps installed in the UK increased by only 7% last year, much less than the 56% growth seen in 2024. This slowdown follows the government cutting a grant program that helped poorer households install heat pumps, which use electricity instead of gas to heat homes and reduce carbon emissions.
Key Facts
Heat pump installations in the UK grew by 7% in the last year, down from 56% the year before.
The government ended the ECO scheme, which fully funded heat pumps for low-income households after issues with bad installations.
The Boiler Upgrade Scheme still offers a £7,500 grant but households may need to pay over £2,500 themselves.
About 20% of the UK's emissions come from heating homes, most of which currently use gas boilers.
Heat pumps use electricity, which can come from clean sources like wind and solar energy.
The UK has some of the highest electricity bills in Europe, making running heat pumps costly.
Electric car sales continue to rise, with one in four new cars being electric, helped by high petrol prices.
The government plans to weaken the zero emission vehicles target, but climate advisors want to keep it to support cleaner transport.
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Ten years after Brexit, the UK’s trade with the EU has dropped sharply, affecting companies like Eskimo, which faced new costs and delays exporting goods. Studies show the variety of UK exports and imports with the EU has fallen significantly, and many economists agree Brexit has caused long-term economic damage, though global events have also influenced trade.
Key Facts
Eskimo, a UK company, saw its exports to the EU drop from 40% in 2020 to 5% in 2025.
The Brexit deal removed tariffs on EU exports but increased paperwork and delays.
UK exports to the EU decreased by about 26-54% in terms of product variety by 2023.
UK imports from the EU also fell by over 30% in product variety over five years.
Some countries like Australia and New Zealand still follow EU safety standards, complicating UK exports.
Economists generally agree Brexit caused long-term economic harm to the UK economy.
Global events like the COVID-19 pandemic and Ukraine war also affected UK trade during this period.
Negative economic effects took time to appear and were less immediately severe than early predictions suggested.
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Tech stocks fell worldwide on Tuesday as investors became worried about ongoing inflation and the chance that interest rates might rise again. These concerns made investors sell shares of large technology companies.
Key Facts
Stocks dropped globally, especially in the technology sector.
Investors are concerned about continuing inflation, which means prices for goods and services keep rising.
There is a possibility that interest rates will increase in the future.
Higher interest rates can make borrowing money more expensive.
The selloff mainly affected some of the biggest tech companies.
This stock movement shows caution among investors about the economic outlook.
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The next UK prime minister, likely Andy Burnham, will face major economic problems including slow growth, low job opportunities, and pressure on public services. Burnham plans to follow existing government rules on borrowing but may need to find new ways to invest and boost incomes while managing the national debt.
Key Facts
The UK has had six prime ministers in the last ten years, with Andy Burnham possibly becoming the seventh.
Public expects economic changes due to lack of jobs, declining living standards, and strained public services.
Burnham wants to follow current government rules that limit borrowing to investment only, not daily spending.
The UK’s debt interest costs equal about £1 in every £10 the government spends.
Household incomes have grown slower since 2007, making families poorer compared to past decades.
Inflation, especially a 40% rise in food prices, has hurt household finances.
Job growth is slow with young people particularly affected, partly due to automation and higher minimum wages.
A report warns youth not in work, education, or training (NEET) could rise to 1 in 6, impacting their future.
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The UK Advertising Standards Authority (ASA) banned ads from Adidas, Calvin Klein, and Uniqlo because they could not prove their claims about using recycled materials in their clothing and shoes. The ASA said the ads made it seem like the products were fully recycled, which was not true.
Key Facts
Adidas, Calvin Klein, and Uniqlo ran ads claiming their products were made from recycled materials.
The ASA investigated and asked the companies for proof of these recycling claims.
Adidas said it has no fully recycled running shoes but some products include recycled materials.
Calvin Klein said only some tops use environmentally friendly materials, not the entire women’s range.
Uniqlo claimed its products were made to a meaningful extent from recycled materials, backed by certification.
The ASA ruled the ads misled consumers by implying the products were entirely recycled.
The ASA requires strong proof when ads use absolute terms like "recycled."
This ban is part of a larger ASA review targeting misleading environmental claims in fashion advertising.
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A power outage disrupted card payments at many pubs and stores in the UK during an England World Cup match. The outage affected Worldpay, a major payment processing company, causing long lines at cash machines and forcing some venues to accept cash only. Worldpay and affected businesses worked to fix the problem as quickly as possible.
Key Facts
A power outage caused problems for Worldpay, one of the largest payment processors.
The outage happened during England’s World Cup group game against Ghana.
Contactless and card payments failed at shops including Tesco and many pubs.
Videos showed long lines at cash machines because cards were not working.
Some pubs and entertainment places only took cash due to the issue.
Worldpay said the problem was a third-party power disruption and was being fixed.
Tesco confirmed the payment problem and said it affected both stores and online.
The issue was later resolved, and Tesco apologized for the inconvenience.
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Several food companies are removing artificial dyes from their products. This change follows a trend where more brands aim to use natural ingredients instead of artificial colorings.
Key Facts
Many companies are planning to take artificial dyes out of their foods.
M&M’s will soon offer versions without artificial colors.
Other brands are also working on removing artificial dyes.
The goal is to meet consumer demand for cleaner, more natural ingredients.
Artificial dyes are coloring agents made from chemicals.
Using natural colors can make products look different than before.
This shift shows a wider trend in the food industry toward healthier options.
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Alibaba, a large online shopping company, is suing the US government to be removed from a Pentagon blacklist. The US Defense Department says Alibaba is linked to the Chinese military, but Alibaba denies this and says the accusations are wrong.
Key Facts
Alibaba was added to a US Pentagon blacklist that stops the company from working with the US government.
The Pentagon claimed Alibaba supports the Chinese military because it follows Chinese tech rules.
Alibaba says its business focuses on online shopping and cloud computing, not military or spying.
The blacklist will fully ban business with Alibaba starting June 30.
The ban also affects US contractors connected to blacklisted companies, isolating Alibaba politically and legally in the US.
Alibaba tried to share proof that it is not connected to the military but got no response before being blacklisted.
The lawsuit was filed in a federal court in California to challenge the Pentagon’s decision.
The US Defense Department declined to comment due to ongoing legal action.
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At a climate conference in London, United Nations Secretary-General Antonio Guterres urged artificial intelligence (AI) companies to reveal how much energy their systems use and the environmental harm they cause. This call comes as Europe faces a severe heatwave that highlights the high energy demand of AI technologies.
Key Facts
The UN chief made the request during a climate meeting in London.
He wants AI companies to be transparent about their environmental impact.
AI systems require a lot of energy to operate, contributing to environmental challenges.
Europe is currently experiencing a major heatwave, drawing attention to energy use.
The discussion links AI development with its effects on climate change and energy consumption.
The topic is part of broader concerns about sustainability in technology sectors.
Other news included Iran rejecting a US claim over frozen Iranian assets.
The energy intensity of AI is becoming a global issue as AI technologies grow rapidly.
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Germany is planning major pension changes because its system is struggling as the population gets older. The government wants people to work longer, pay more into the system, and create new ways to save for retirement. Experts say the United States faces similar problems with Social Security and could learn from Germany’s approach.
Key Facts
Germany’s pension system is pay-as-you-go, meaning current workers’ contributions pay retirees’ benefits.
The system is under strain because there are fewer workers supporting more retirees due to aging and low birth rates.
Chancellor Friedrich Merz supports reforms recommended by an expert commission to fix these problems quickly.
Proposed changes include raising the retirement age beyond 67 and linking it to life expectancy.
The government wants to end early retirement options without penalties and require more workers to contribute.
A new market-based pension component would require mandatory savings invested to supplement benefits.
Germany’s retirement age could rise to around 70 if people live longer in the future.
The United States faces similar Social Security funding issues, with its retirement trust fund expected to run out by 2032 if no action is taken.
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Tech stocks have fallen sharply, causing the S&P 500 and Nasdaq stock indexes to drop on Tuesday. The decline is linked to worries that building and using artificial intelligence (AI) technology will be very expensive.
Key Facts
Tech companies’ stocks dropped significantly on Tuesday.
The S&P 500 and Nasdaq stock indexes fell due to this sell-off.
Investors are concerned about the high costs related to developing AI technology.
Rising costs could reduce profits for companies involved in AI.
The drop affected major technology firms in the stock market.
This sell-off reflects uncertainty about the future expenses of AI projects.
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Luis von Ahn, the founder of Duolingo, talks about his journey from creating CAPTCHA technology to building a large education technology company. He shares how his childhood in Guatemala and his belief in accessible education inspired him.
Key Facts
Luis von Ahn grew up in Guatemala and became interested in computers early on.
He created CAPTCHA and reCAPTCHA, tools to help computers distinguish humans from bots.
Google bought reCAPTCHA from him.
He founded Duolingo, an education app used by millions worldwide.
Duolingo is now worth billions of dollars.
Von Ahn discusses the sacrifices his mother made to support his education.
He shares lessons he learned as an entrepreneur.
He mentions struggling with conflict as a technology company leader.
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Alibaba has sued the U.S. Department of Defense for labeling it as a “Chinese military company.” Alibaba says this label is wrong and that it is an independent company that does not have any ties to the Chinese military.
Key Facts
Alibaba filed a lawsuit in a federal court in San Jose, California, to remove its name from the U.S. military’s list of Chinese military companies.
The U.S. added Alibaba to this list on June 8, along with other Chinese firms like BYD and Baidu.
Being on the list means Alibaba cannot provide goods or services to the U.S. Department of Defense starting June 30.
From 2027, the Pentagon will also be banned from contracting with Alibaba, even through third parties.
Alibaba says its business focuses on retail, logistics, and enterprise IT, not military or intelligence work.
The Pentagon claims Alibaba is linked to China’s Ministry of Industry and Information Technology (MIIT) and supports military-civil fusion, which means combining military and civilian technology efforts.
China’s embassy in Washington called the U.S. action “discriminatory” and urged the U.S. to stop unfair treatment of Chinese companies doing business abroad.
The Pentagon’s list of Chinese military companies has grown from 134 firms in 2023 to 188 in 2024 as part of increased U.S. restrictions on Chinese tech companies.
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A $75,000 certificate of deposit (CD) can earn savers hundreds to thousands of dollars in interest, depending on the term length. With current high fixed interest rates around 4% or more, CDs offer better returns than traditional savings accounts, which pay much lower rates.
Key Facts
The Federal Reserve has kept interest rates steady, with no changes expected soon.
CD interest rates vary by term but are generally 4% or higher now.
A $75,000 CD can earn about $730 in 3 months and up to $17,130 over 5 years.
Early withdrawal from a CD may result in fees that reduce earnings.
Traditional savings accounts pay an average of only 0.38% interest.
CDs offer fixed interest rates, making returns more predictable than variable rate accounts.
Savers should choose CD terms they can keep until maturity to avoid penalties.
Online platforms help compare CD rates, terms, and banks easily.
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A money market account offers savers higher interest rates than traditional savings accounts, helping their money grow faster without investment risks. These accounts also provide flexible access to funds and the option to write checks, making them a practical choice for managing money today.
Key Facts
Money market accounts currently offer interest rates close to 4%, much higher than the average 0.38% from regular savings accounts.
The interest rates on money market accounts can increase further if the Federal Reserve raises rates again in 2026.
Account holders do not need to take any action to benefit from rate increases; banks adjust rates automatically.
Unlike certificates of deposit (CDs), money market accounts allow easy access to funds without penalties for early withdrawal.
Money market accounts let users write checks, which CDs do not allow, helping simplify banking in one account.
CDs may offer slightly higher rates than money market accounts but limit access to funds and can charge penalties for early withdrawal.
Using a money market account can help savers keep up with inflation better than keeping money in a traditional savings account.
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New business owners often underestimate how long hiring employees takes, which can delay their growth and strain resources. To hire quickly and well, owners should write clear job descriptions, use multiple channels to find candidates, pre-screen efficiently, and structure interviews to save time.
Key Facts
Hiring usually takes longer than new business owners expect, often stretching from two weeks to several months.
Clear and detailed job descriptions help attract qualified candidates and speed up screening.
Using various job platforms, professional networks, and referrals broadens the candidate pool without overwhelming the process.
Pre-screening candidates with short questionnaires or phone calls helps quickly narrow down applicants.
Identifying deal-breakers early, like skills gaps or salary expectations, saves time.
Standardizing interviews improves efficiency and makes it easier to compare candidates.
Hiring the right employees supports business growth and smooth operations.
Hiring delays can lead to lost revenue and overworked owners.
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Technology stocks fell sharply after months of rising prices, as investors questioned if companies’ spending on artificial intelligence (AI) is truly sustainable. The Nasdaq index dropped about 2%, and chipmakers like Nvidia and Intel saw big losses, while SpaceX’s stock showed high volatility after its recent public listing.
Key Facts
The Nasdaq tech-focused index fell about 2% due to renewed selling pressure.
Chip companies such as Nvidia and Intel experienced significant stock price declines.
SpaceX’s stock price dropped below its initial public offering (IPO) price of $150, then rebounded slightly to around $160.
The tech sector had seen a three-month rally, with stock prices more than doubling since 2022 lows.
Investors are uncertain if large AI investments justify current high stock prices.
Analysts disagree whether this drop is a short-term pause or the start of a bigger tech market decline.
Some experts say inflation and demand will support tech growth, while others worry about shrinking corporate budgets and economic challenges.
The FTSE 100 stayed positive partly because it has fewer tech stocks compared to US markets.
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Credit card debt relief can be very helpful this July because interest rates are high and unlikely to drop soon. Borrowers should act now to stop their debt from growing and explore different ways to reduce or manage it before the situation worsens.
Key Facts
Credit card interest rates are around 20% and currently steady, not expected to fall soon.
The Federal Reserve paused interest rate changes in June, with no changes expected in July.
Credit card debt grows daily due to compound interest, increasing the amount owed over time.
Delaying debt relief can lead to worse credit scores and fewer financial options, like loans and mortgages.
There are several debt relief methods, including credit counseling, debt forgiveness, and bankruptcy for severe cases.
Forgiveness programs can take several years to complete, so starting early is important.
Professional help is available to create a plan tailored to individual debt situations.
Acting quickly in late June or early July gives borrowers a better chance to improve their financial situation.
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A heatwave in Europe has caused electricity prices to rise sharply because people are using more air conditioning and some power plants have stopped working. Lower wind speeds and high river temperatures have reduced renewable and nuclear power, pushing prices to their highest levels in years.
Key Facts
The heatwave increased electricity use as millions used air conditioners and fans.
Many gas power plants in Great Britain faced problems and reduced their output.
Wind power fell due to slower wind speeds caused by a high-pressure weather system.
France’s nuclear plants produced less power because warm river water made cooling harder.
Great Britain imported electricity from Europe at over six times the normal price on one day.
Electricity prices reached around £470 per megawatt-hour in Great Britain, compared to £71 last June.
Germany’s electricity price hit over €545 per megawatt-hour, the highest since June 2024.
A program in the UK encourages households to reduce electricity use during peak times to ease demand.
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Many online job posts get ignored because they use unclear titles, lack salary information, or have long, vague descriptions. Employers can improve their chances of attracting qualified candidates by using common job titles, showing pay details, and making descriptions easy to read.
Key Facts
Job posts often have unusual titles that candidates don’t search for, so the listings don’t show up in searches.
Almost half of job seekers want more detailed descriptions to see if the job fits their skills.
About 27% of candidates prefer seeing salary information in job posts.
Some places now legally require employers to share pay ranges in job listings.
Long or unclear job descriptions make it hard for candidates to understand the role.
Clear, simple job titles and descriptions help job posts appear in search results and attract the right people.
Including salary and other pay details can make candidates more likely to apply.
Using formatting that is easy to scan, like bullet points, improves candidate engagement.
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