Nigel Farage’s Reform UK party has received large amounts of money from a group of connected donors, including a £5 million gift from billionaire Christopher Harborne. Investigations have revealed secret donations, loans, and financial transactions involving senior party figures, leading to police questioning and reports to the National Crime Agency.
Key Facts
Nigel Farage accepted a £5 million gift from billionaire donor Christopher Harborne.
Reform UK received secret donations and a loan from donors linked to senior party members.
The Metropolitan Police have interviewed two people under caution related to the party’s finances.
Bank staff reported suspicious financial transactions involving Reform UK to the National Crime Agency.
George Cottrell, a convicted fraudster living in Montenegro, transferred over $2 million to his mother, who then donated large sums to Reform UK.
Cottrell is connected to Farage, Harborne, and Richard Tice, Farage’s deputy, and has lent money to Tice.
Reform UK’s leadership believes the party’s funding network is crucial to its chance of forming the next government.
Farage has responded to questions with legal threats and claims of a conspiracy without providing clear answers.
Read the Original
Want the full story? Tap a source to open the original
article.
Experts warn that the trend of eating more protein, called "proteinmaxxing," is increasing the demand and price of whey protein, a main ingredient in infant formula. This rise in whey protein costs is causing infant formula prices to go up, making it harder for families to afford baby formula.
Key Facts
Whey protein, important for infant formula, has become more popular due to health advice and weight-loss drugs that help preserve muscle.
The price of whey protein concentrate 80 nearly doubled from €11,733 to €25,875 per metric tonne between July 2025 and now.
Infant formula uses whey protein to resemble human breast milk and make it easier for babies to digest.
The average price of baby formula in the UK rose 4.8% in the past year, reaching £12.11 for a 750g box.
Rising whey protein costs are pushing formula makers to increase prices or change ingredients.
Some manufacturers now use more demineralised whey powder 90 (D90), which is more expensive but helps keep the right protein balance.
Experts and a public health charity warn that higher formula prices can harm families who may try unsafe feeding methods.
A government price or profit cap on infant formula is suggested to protect families and prevent very high company profits.
Read the Original
Want the full story? Tap a source to open the original
article.
A top official from the European Central Bank (ECB) said climate change and nature loss are increasing risks to the global economy and financial stability. The ECB is working to better understand how damage to natural systems could hurt banks and the wider financial system.
Key Facts
Frank Elderson, an ECB executive board member, called climate and nature crises a major economic risk.
Ecosystem services are natural processes like water supply and food production that support human life and the economy.
Wildfires in Europe, worsened by heat, are causing heavy economic damage.
The ECB is increasing its monitoring of financial risks tied to environmental damage.
The bank will publish research on how ecosystem damage could lead to credit losses in eurozone banks.
Elderson helped form the Network for Greening the Financial System (NGFS), a group pushing central banks to manage climate risks.
The US, under President Trump, left the NGFS last year, leaving Europe as a leader on this issue.
European banks widely agree that climate and nature risks are important and need to be addressed.
Read the Original
Want the full story? Tap a source to open the original
article.
Petrol prices in Australia are expected to rise above $2 per litre after a temporary fuel tax discount ends on August 3. The government confirmed it will not extend the discount, which helped lower prices during recent global oil price spikes caused by renewed conflicts involving Iran and the US.
Key Facts
The fuel excise discount was cut from 32 cents to 16 cents per litre in July and will end completely on August 3.
Ending the discount will add about 16 cents per litre to wholesale fuel prices, increasing the cost of a full 55-litre petrol tank by roughly $8.80.
Petrol prices have already risen above 190 cents per litre in all Australian capital cities, with some above 200 cents, and diesel prices are also increasing sharply.
Rising global oil prices, due to conflicts near the Strait of Hormuz between Iran and the US, have pushed Brent crude oil prices from around US$70 to nearly US$90 per barrel.
Analysts warn oil could reach US$100 per barrel if the conflict continues, potentially driving petrol prices even higher.
The fuel excise discount helped keep inflation lower and supported household spending during economic weakness.
The government assures there are ample fuel supplies, with about 40+ days of fuel stocks and over 3 billion litres being shipped to Australia in the coming weeks.
Energy Minister Chris Bowen advised against panic buying and emphasized that fuel orders are secure through October.
Read the Original
Want the full story? Tap a source to open the original
article.
Amazon announced it received about $600 million in refunds after a court ruled some tariffs set by President Trump were illegal. The company said it plans to give some of this money back to its customers.
Key Facts
Amazon got around $600 million in refunds from tariffs imposed during President Trump’s administration.
These tariffs were challenged in court and many were found to be illegal by the Supreme Court.
The U.S. government began refunding money collected from these tariffs after the court ruling.
Amazon promises to return part of these tariff refunds to its customers.
The tariffs were originally meant to tax certain imported goods.
This decision affects how much companies and consumers pay for some products.
The refunds come after a legal process that confirmed the tariffs should not have been charged.
Read the Original
Want the full story? Tap a source to open the original
article.
US Treasury Secretary Scott Bessent was seen with a note indicating a plan for the US to buy $5 billion to $10 billion in Japanese yen. There were signs the US Treasury might intervene to support the yen as its value rose against the dollar on the same day.
Key Facts
The note saying “Buy Japanese Yen (JPY) $5-10 bil” was seen during a cabinet meeting at Camp David.
The note was visible to Reuters, who took a photo at 11:33 am local time.
The US Treasury had reportedly informed banks about a possible intervention in the yen market earlier that day.
Japanese officials acted to strengthen the yen before the US Treasury’s possible involvement.
The yen strengthened significantly against the dollar in late trading, with the dollar falling about 0.8% against the yen near 5 pm ET.
The US Treasury has not intervened in the yen market since 2011.
There was no immediate comment from the Treasury on the note or any intervention action.
Read the Original
Want the full story? Tap a source to open the original
article.
Adani’s coal mining operation in Queensland earned almost $1 billion in revenue last year but recorded a loss due to high expenses and so paid no company tax. Despite promises that the Carmichael project would contribute billions in taxes and royalties, it has never paid corporate tax since opening in 2021, though it did pay royalties to the government.
Key Facts
Adani’s Carmichael coal mine made $963.5 million in revenue in the year ending March 31.
The company reported a $340.6 million loss after large production and related expenses.
Because of the loss, Adani paid no corporate tax on the Queensland coal mining operation.
Adani paid $58 million in royalties to the government, which are fees for extracting state-owned minerals.
The Carmichael coal project opened in 2021 and has not paid corporate tax since then.
Adani donated $600,000 to the Liberal National party before the 2024 state election using a federal tax loophole.
Adani’s related export terminal business earned $356.6 million but also reported a loss and paid no company tax.
The mining project employs more than 1,400 people and complies with Australian tax and accounting rules.
Read the Original
Want the full story? Tap a source to open the original
article.
The British girl band FLO released their second album, Therapy at the Club, after spending six months working on it and becoming more involved in all parts of the creation process. They have grown their fan base with millions of monthly Spotify listeners and TikTok followers, won awards, and gained recognition in the US with performances and podcast appearances.
Key Facts
FLO is a British girl band made up of Stella Quaresma, Jorja Douglas, and Renée Downer.
They first became popular in 2022 with the song "Cardboard Box."
FLO won Best R&B/Soul Act at the 2026 MOBO Awards.
They have over 5 million monthly listeners on Spotify and 1.2 million followers on TikTok.
Their second album, Therapy at the Club, shows more creative control by the group than their first album.
The album explores themes of love, heartbreak, healing, and friendship.
FLO blended R&B with pop music on the new album, working with Grammy-winning songwriter Amy Allen.
Their debut album, Access All Areas, was nominated for Best Progressive R&B Album at the 2026 Grammys.
Read the Original
Want the full story? Tap a source to open the original
article.
Major oil companies in the U.S. are making large profits because the ongoing war involving Iran is causing energy prices to rise. The conflict is limiting the global supply of oil and gas, which makes fuel more expensive.
Key Facts
The war involving Iran has disrupted global energy supplies.
Oil prices have increased due to the conflict.
America's largest oil companies are reporting big profits.
Higher energy prices are linked to limited supply caused by the war.
The situation is affecting markets worldwide.
The report included analysis from a CBS News business contributor.
The event highlights how international conflicts impact the energy market.
Read the Original
Want the full story? Tap a source to open the original
article.
Puerto Rico’s government approved a $2 billion luxury development called Esencia in Cabo Rojo, which includes hotels, residences, golf courses, and other facilities. Environmental groups oppose the project, saying it threatens natural resources and wildlife, while developers say most of the land will be conserved and the project will use renewable energy.
Key Facts
The Esencia project will cover 2,000 acres in southwestern Puerto Rico.
It will feature 500 luxury hotel rooms, 1,200 private homes, two golf courses, a school (K-12), and a 24/7 medical center.
More than 75% of the land will be set aside for green space and conservation, including wetlands and mangroves.
The development plans to use only renewable energy and have its own water and power systems.
Hotel brands Mandarin Oriental and Rosewood Hotels & Resorts are involved in the project.
Environmentalists criticize the approval process for lacking public hearings and transparency.
The project is expected to create over 17,000 jobs.
Sales are planned to begin later this year, with residents and guests arriving starting in late 2029.
Read the Original
Want the full story? Tap a source to open the original
article.
Small arts organizations in cities and rural areas are struggling financially. While large theaters and museums get more attention, smaller groups play a key role in serving their local communities.
Key Facts
Larger theaters, venues, and museums usually get more public and media focus.
Smaller arts groups are closely connected to their local communities.
These smaller organizations face economic challenges and financial pressure.
Financial problems put the survival of many community-based arts groups at risk.
The report is part of a series exploring how art relates to democracy.
The series aims to show the importance of art in society and community life.
Read the Original
Want the full story? Tap a source to open the original
article.
Some states are planning to change the "sell-by" dates on food packages. Experts say changing these labels could help people waste less food and save money.
Key Facts
States want to update "sell-by" dates on grocery items.
"Sell-by" dates tell stores when to remove products from shelves, not when food goes bad.
Changing labels could make it clearer when food is still good to eat.
Clearer dates could reduce food thrown away unnecessarily.
Less food waste can help people save money on groceries.
Experts discussed these changes and their potential benefits.
The effort aims to improve how food freshness is communicated to consumers.
Read the Original
Want the full story? Tap a source to open the original
article.
More Americans are using credit cards to buy groceries, according to a study by the Urban Institute. This shows that some people may be struggling to pay for food with cash or debit cards.
Key Facts
The Urban Institute conducted research on grocery shopping habits.
The study found an increase in using credit to buy groceries.
Using credit means people borrow money from their credit card companies and pay it back later.
More people relying on credit for groceries might indicate financial difficulties.
Michelle Singletary, a financial expert, discussed reasons behind this trend.
The story was featured on CBS News and covered in The Washington Post.
Read the Original
Want the full story? Tap a source to open the original
article.
The biotech industry is developing advanced therapies like personalized cancer treatments and gene therapies, but many companies struggle to succeed commercially after getting regulatory approval. Industry experts say strong planning and teamwork are needed to turn scientific breakthroughs into profitable products.
Key Facts
New biotech treatments, such as Zi-MA4-1 cancer therapy and new gene/cell therapies, have been approved recently.
Developing a new medicine can cost more than $2 billion due to research and testing.
Regulatory approval does not guarantee a therapy will sell well or be widely used.
Companies must build market demand, educate doctors, and develop sales teams to succeed.
Investors now expect biotech firms to show solid business plans and growth after approval.
Commercial skills and infrastructure are becoming as important as scientific innovation.
Amy Vie, a pharmaceutical executive, says companies often fail because they do not effectively execute their plans.
Vie emphasizes building trust and teamwork within companies to improve performance and growth.
Read the Original
Want the full story? Tap a source to open the original
article.
The article explains that companies in financial trouble are not always worthless. Sometimes, their true value is hidden and can be revealed through careful planning and risk-taking during restructuring. A project at Texas A&M’s RELLIS Campus showed how a struggling data center asset was turned from a low-value property into a highly valuable one through this process.
Key Facts
Bankruptcy or financial distress does not always mean a company has no value.
Many see distressed companies as lost causes, but underlying assets can still be valuable.
The Texas A&M RELLIS Campus data center was initially seen as a limited asset with challenges.
Through restructuring, the asset’s value was increased from $120 million to an estimated $950 million.
Creditors were paid in full during the bankruptcy process, which is rare.
Unlocking hidden value needs a good strategy, financing, and a strong team.
Restructuring involves taking calculated risks even when capital is tight.
The author works as a chief restructuring officer helping turn distressed businesses around.
Read the Original
Want the full story? Tap a source to open the original
article.
The Federal Communications Commission (FCC) Chairman Brendan Carr defended the agency’s recent review of ABC’s broadcast licenses, saying broadcasters must serve the public interest in exchange for using public airwaves. ABC argues the FCC is targeting it unfairly because of political disagreements and claims this is an attack on free speech.
Key Facts
FCC Chairman Brendan Carr says broadcasters get valuable airwaves free but must operate in the public interest.
Carr hopes more broadcasters will meet their public interest obligations to maintain trusted news media.
ABC is fighting an early FCC review of eight local broadcast licenses before they expire.
ABC claims the FCC is singling them out due to political content disliked by President Donald Trump’s administration.
The license review signals a warning that media companies must follow the administration’s news coverage views or face consequences, ABC says.
The FCC also wants to apply equal-time rules to ABC’s show “The View,” which was exempted as news in 2002.
President Trump has publicly criticized ABC and called for firing TV host Jimmy Kimmel.
Carr mentioned ABC’s diversity, equity, and inclusion policies during the license review discussion.
Read the Original
Want the full story? Tap a source to open the original
article.
Artificial intelligence (AI) is making it easier for many investors to access and understand financial information quickly. However, some of the most valuable investment opportunities remain available only through private connections and trusted relationships, which technology cannot replace.
Key Facts
Private equity fundraising fell 24% in 2024, but investors still plan to increase their investments in private markets.
AI tools allow anyone with internet access to analyze earnings reports and economic research in seconds.
This technology narrows the information gap between big institutional investors and individual investors.
Many wealth-building deals happen in private settings, not on public stock exchanges.
Trust and personal relationships are needed to access many exclusive investment opportunities.
Companies are staying private longer, making private investments more important.
The most successful investors will be those who gain early access to opportunities, not just those who have the most information.
AI can help explain investment strategies but cannot build trust or arrange exclusive introductions.
Read the Original
Want the full story? Tap a source to open the original
article.
The Federal Reserve has paused interest rate increases for now, but mortgage rates remain high. Borrowers should avoid common mistakes like skipping mortgage rate locks, not shopping around for better rates, and ignoring wider economic trends to succeed in buying or refinancing homes.
Key Facts
The Federal Reserve paused its interest rate increases for the fifth time recently.
Mortgage rates are still higher than before, affecting homebuyers and those refinancing.
Locking in a mortgage rate now can protect borrowers from future rate rises.
Most lenders allow borrowers to change their locked rate if rates drop before closing.
Borrowers should compare mortgage rates from different lenders instead of sticking with familiar ones.
Shopping around can lead to rates that are 0.5% to 1% lower than average.
Mortgage rates can change due to economic factors like Treasury yields, inflation, unemployment, and global events.
Being informed and cautious helps borrowers handle the current tough borrowing environment.
Read the Original
Want the full story? Tap a source to open the original
article.
New York State has filed a lawsuit against Kalshi, an online betting platform, accusing it of running an illegal gambling operation. Kalshi argues that it is regulated by the federal government and therefore not bound by New York state gambling laws.
Key Facts
New York State is suing the online betting company Kalshi.
The lawsuit claims Kalshi operates an illegal gambling business in New York.
Kalshi is an online platform where people can place bets on future events.
Kalshi says it is regulated by federal authorities.
The company argues it does not have to follow New York state gambling laws because of federal oversight.
The case involves questions about whether federal rules or state laws control online betting activities.
The outcome could affect how online betting companies operate across different states.
Read the Original
Want the full story? Tap a source to open the original
article.
The U.S. workplace is changing faster than ever, with many companies facing frequent disruptions. Business leaders now focus on being adaptable and quick to respond to changes in the economy, regulations, and global events to stay successful.
Key Facts
By 2026, U.S. workplaces will face rapid changes that are more intense than in the past decade.
Many U.S. employees experience over a dozen major changes in a single year, causing fatigue and confusion.
About 70% of U.S. business leaders say speed and flexibility are their main advantages through 2029.
Almost all surveyed corporate growth leaders (97%) have changed their growth plans in the past year due to outside pressures.
Geopolitical issues like interest rate changes, trade policies, inflation, and supply chain problems greatly affect company strategies.
Leaders need to focus on resilience, clarity, and agility to handle constant change effectively.
Ryan Bueter, CEO of The Killer Dueling Pianos, uses lessons from live entertainment—like staying aware and flexible—to lead his company and apply similar ideas to business leadership.
Bueter’s company relies on audience interaction, showing how paying close attention to people’s needs can help organizations succeed in changing environments.
Read the Original
Want the full story? Tap a source to open the original
article.
