Alan Greenspan, who led the U.S. Federal Reserve for five terms, died at 100 years old due to complications from Parkinson’s disease. His wife, journalist Andrea Mitchell, shared the news.
Key Facts
Alan Greenspan was the chair of the Federal Reserve for five terms.
He died on Monday at the age of 100.
The cause of death was complications from Parkinson’s disease.
Greenspan’s wife is Andrea Mitchell, a longtime NBC News journalist.
Greenspan played a major role in shaping U.S. economic policies during his leadership.
The Federal Reserve is the central bank of the United States, controlling monetary policy.
Greenspan was known as an influential figure in American finance.
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South East Water has named John Halsall as its new chief executive after the previous CEO, David Hinton, resigned. Halsall plans to focus on fixing immediate water supply problems and leading a £2.1 billion investment program to improve the company’s reliability.
Key Facts
John Halsall will become South East Water’s new chief executive, pending regulatory approval.
Halsall has worked before for Thames Water, South West Water, and Network Rail.
David Hinton, the former CEO, resigned in May and will leave after a handover.
South East Water has faced criticism for repeated water shortages in Kent and Sussex.
Regulator Ofwat proposed a £22 million fine for the company due to supply issues affecting 286,000 people from 2020 to 2023.
Halsall aims to deliver South East Water’s largest-ever investment program of £2.1 billion to improve water service.
The company reported £1.3 billion in debt and raised prices by an average of 7% in April, making the average yearly bill £324.
Halsall said he wants to rebuild trust with customers, partners, regulators, and staff while improving the business.
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Alan Greenspan, who led the U.S. Federal Reserve for almost 20 years, has died at age 100. He was known for guiding the U.S. economy through many years and served as Fed chairman from 1987 to 2006.
Key Facts
Alan Greenspan died at home due to complications from Parkinson's disease.
He was 100 years old at the time of his death.
Greenspan was chairman of the Federal Reserve from 1987 to 2006.
He was appointed by President Ronald Reagan.
Greenspan influenced U.S. economic policy under presidents from both political parties.
He was married to NBC journalist Andrea Mitchell for 29 years.
He had strong personal interests in baseball, the Washington Commanders, tennis, golf, and jazz music.
His wife described him as honest about his mistakes in economic decisions.
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Barron Trump and Kai Trump, son and granddaughter of President Donald Trump, have launched new soft drinks called Sollos and Blue Raz Slush. Sollos is a pineapple-flavored yerba mate drink priced at about $40 for 12 cans, while Blue Raz Slush is an energy drink inspired by blue raspberry flavors, sold at around $25 for 12 cans.
Key Facts
Sollos is co-founded by Barron Trump and is described as a pineapple and coconut flavored yerba mate drink.
Sollos costs $39.99 for 12 cans and claims to be inspired by the Florida lifestyle and the sun's cycle.
Blue Raz Slush is co-developed by Kai Trump and a drinks company called Accelerator.
Blue Raz Slush aims to deliver bold, icy flavors and claims “clinically proven benefits” like sustained energy and better focus, though the referenced study is not available.
Blue Raz Slush costs about $24.99 for 12 cans on Amazon.
Both drinks received negative taste reviews from the purchaser, who described Sollos as tasting like sunscreen and pineapple juice, and Blue Raz Slush as having a chemical finish.
Packaging of Sollos was noted as attractive, and the drinks use some natural ingredients like organic honey and monk-fruit extract.
The launches mark the first business ventures for Barron Trump (20 years old) and Kai Trump.
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More Americans are falling victim to job scams as scammers use better technology to trick job seekers. Reports of employment scams doubled in 2025, with younger applicants especially targeted by fake job offers and interviews that can lead to giving away personal information.
Key Facts
Employment scam reports doubled in 2025 compared to 2024, according to the Better Business Bureau.
About 32% of Gen Z job seekers have been victims of job scams, while 15% of Gen X reported the same.
Scammers use advanced technology, including AI, to create convincing fake job messages and emails.
Fraudsters often pretend to be employers and set up fake interviews to steal bank details or install malware.
Many job seekers are vulnerable due to the difficult job market and are eager to respond to promising job offers.
Social media platforms are becoming new places where scammers target job applicants.
Examples include fake interview invitations from companies that job seekers never applied to.
Some scams involve requests for money under the guise of background checks or payroll setup.
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Coca-Cola and the US Internal Revenue Service (IRS) will argue in a Florida court over a $20 billion tax bill related to profits made by Coca-Cola’s foreign subsidiaries. The dispute focuses on how the company sets prices for transactions between its own foreign units and whether the IRS’s tax claims are correct.
Key Facts
Coca-Cola is challenging a 2020 US Tax Court decision that supports the IRS’s claim of underreported profits.
The IRS says Coca-Cola undercharged its foreign subsidiaries in countries like Ireland, Brazil, and Mexico to reduce US tax payments.
The legal fight involves a transfer pricing method agreed on in 1996, which Coca-Cola wants to keep using.
Coca-Cola has agreed to pay $6 billion to the IRS while appealing but may owe up to $14 billion more.
The case could influence how much tax US multinational companies will pay on overseas earnings in the future.
The IRS has been increasing efforts to tax companies that use transfer pricing to lower US taxes.
Another major case involved Microsoft, which the IRS claims owes nearly $29 billion in back taxes.
The outcome could become a guide for future IRS audits of other large companies with profitable foreign subsidiaries.
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EasyJet has rejected a £4.74 billion takeover offer from the US investment company Castlelake, saying the bid undervalues the airline. Castlelake has made three offers this month and wants to make a final firm offer by Friday, proposing a plan that keeps EasyJet majority-owned by European citizens.
Key Facts
EasyJet rejected Castlelake's £4.74 billion takeover bid, calling it too low.
Castlelake has made three takeover attempts this month, all turned down by EasyJet.
The latest offer values EasyJet shares at 625p each, 24% higher than last week’s price.
Castlelake owns about 2.14% of EasyJet through its managed funds.
EU rules require EasyJet to be majority-owned by EU citizens.
Castlelake proposes partnering with two EU nationals, Peter Bellew and Mark Breen, to meet ownership rules.
Peter Bellew is a former EasyJet chief operating officer; Mark Breen is an aerospace consultant.
EasyJet describes the proposed ownership setup as unclear and says it doesn’t prove the takeover can be done.
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The Chairman of Mercedes-AMG, Michael Schiebe, is leaving his position but has introduced a new electric supercar to compete with Lamborghini and Ferrari. The Mercedes-AMG 4-Door GT Coupe delivers 1,169 horsepower, aiming to compete with top performance brands and target growth in Asian and Middle Eastern markets.
Key Facts
Michael Schiebe, Mercedes-AMG Chairman, is leaving at the end of June 2024.
Schiebe promised to create a rival to Italian supercar brands like Lamborghini and Ferrari.
The new Mercedes-AMG 4-Door GT Coupe is an electric car with 1,169 horsepower.
This car has more power than Ferrari’s electric Luce and Lamborghini’s hybrid Revuelto.
AMG plans to compete with new rivals like Chinese car makers BYD and Xiaomi.
AMG values the Chinese market and aims to increase sales there by over 200%.
Stefan Weckbach will succeed Schiebe as AMG Chairman starting July 1, 2024.
AMG focuses on high-margin luxury products to build brand prestige and profitability.
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Consulting firms once promised strong career growth by training young analysts in deep problem-solving and client work. However, the rise of artificial intelligence (AI) has changed entry-level jobs, shifting tasks from learning and ownership to mainly fact-checking and using AI tools, which raises questions about skill development and workforce changes.
Key Facts
Consulting firms like McKinsey marketed themselves as top training grounds for future leaders.
Entry-level analysts used to gain skills by handling challenging client work and creating their own analysis.
Now, AI tools handle much of the detailed work, reducing analysts' opportunities to build deep skills.
New consulting AI platforms include BCG’s Deckster, Bain’s Sage, and McKinsey’s Lilli.
Firms are promoting employees who are good at using AI and managing high workloads.
Consulting companies are cutting staff and freezing wages amid this AI-driven shift.
Clients want AI integrated deeply into their businesses, pushing firms toward partnerships with AI companies.
The consulting role is changing from creative problem solving to processing AI outputs quickly and repeatedly.
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South East Water has chosen John Halsall as its new chief executive after the previous leader, David Hinton, resigned. Halsall plans to focus first on fixing immediate problems for customers and then invest £2.1 billion to improve the company’s water service over time.
Key Facts
John Halsall will replace David Hinton as chief executive of South East Water.
Halsall previously worked at Thames Water, South West Water, and Network Rail.
South East Water has faced repeated water supply failures in Kent and Sussex.
Halsall intends to respond to customers’ urgent concerns and then make long-term improvements.
The company plans to invest £2.1 billion to improve reliability and service.
The appointment requires approval from regulators.
David Hinton resigned in May; he earned £400,000 plus a £115,000 bonus last year.
South East Water has £1.3 billion in debt and recently raised water prices by about 7%, to an average annual bill of £324.
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Babcock International, a major UK defence company, reported a 19% drop in profits due to increased costs on a Royal Navy shipbuilding contract. The company said Brexit, Covid, higher raw material prices, and labour shortages made the contract unprofitable.
Key Facts
Babcock’s annual profits fell by nearly one-fifth to £293.3 million by the end of March.
The company took a £140 million charge on its contract to build five Type 31 frigates for the Royal Navy.
The contract, won in 2019, offered limited protection against rising costs caused by Brexit, Covid, and labour shortages.
Design changes to the first two ships in the contract caused additional cost increases.
A delay or increase in production hours or labour costs could increase losses by tens of millions of pounds.
Babcock’s nuclear and aviation divisions performed well, increasing profits by 19% excluding the ship contract losses.
The company has £9.8 billion in forward contracts, including a US partnership to build nuclear submarines.
Babcock’s chief executive said the company is positioned to benefit from growing global demand for defence capabilities.
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Johnny Marr is auctioning nearly 100 guitars he has played throughout his career, including ones used with The Smiths and on Billie Eilish's song "No Time To Die." The auction will take place in London this September after the guitars are displayed in New York and London over the summer.
Key Facts
Marr owns over 100 guitars and is selling about 95 of them.
The guitars include ones played on The Smiths' "This Charming Man" and Billie Eilish's James Bond theme "No Time To Die."
A Cherry Red Gibson ES-355, given to Marr as part of The Smiths signing to Sire Records, is part of the auction.
The auction guitars range in estimated price from £1,000 to £150,000.
Some guitars highlight important moments, like the Rickenbacker 330 Jetglo used on several Smiths songs and the Cherry Gibson Les Paul Standard linked to The Smiths' album "Meat Is Murder."
Marr decided to sell after photographing his collection for his book, preferring the guitars to inspire new musicians rather than stay in storage.
Proceeds from 10 lots will be donated to Guide Dogs for the Blind Association and The National Autistic Society.
The guitars will be shown at Christie's in New York and London before the auction on 17 September.
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A new prize called the Windrush Prize for British Caribbean Playwrights has been created using compensation money awarded to a Windrush victim who died before receiving it. The prize will give £10,000 and a theatre run to a UK-based British Caribbean playwright to support their work and honor the contributions of the British Caribbean community.
Key Facts
The Windrush Prize is dedicated to British Caribbean playwrights living in the UK and offers £10,000 to the winner.
The winning play will be staged for at least three weeks at the Arcola theatre in 2027 and published by Methuen Drama.
The prize was set up by Shereener Browne in memory of her father, Myron Brown, who was wrongly stripped of his British citizenship.
Myron Brown died before receiving compensation meant for Windrush victims; his family had to navigate complex legal processes to claim the money.
The prize aims to address the lack of British Caribbean voices in theatre and preserve their cultural impact in Britain.
Windrush Day marks the arrival of Caribbean passengers on the HMT Empire Windrush in 1948, a key moment in British history.
Research shows low awareness of the Windrush story among young people in the UK, highlighting the need for education about this history.
Over 50 Windrush victims died while waiting for compensation; public figures are calling for a review of the compensation scheme.
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EasyJet has turned down a £4.74 billion takeover offer from the US investment firm Castlelake. Castlelake wants to buy the airline and says its offer is good for shareholders, but EasyJet called the bid "highly opportunistic" and has rejected three offers this month.
Key Facts
Castlelake, a US investment firm, owns about 2.14% of EasyJet shares.
Castlelake made three takeover proposals to EasyJet this month, all rejected.
The latest offer values EasyJet at £4.74 billion and offers 625p per share.
The offer price is 24% higher than EasyJet's share price last Friday.
EasyJet's board described the proposals as "highly opportunistic."
Castlelake says it plans to keep EasyJet as a strong European airline under European control.
EU rules require EasyJet to be majority-owned by EU citizens.
Castlelake proposes an ownership plan that complies with EU regulations.
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The US investment firm Castlelake has made a third offer to buy the British budget airline easyJet, valued at just over £4.7 billion. EasyJet’s board has rejected all three offers, saying they undervalue the company, and Castlelake has gone public with its latest proposal to give shareholders a chance to consider it before the takeover deadline.
Key Facts
Castlelake’s third offer to buy easyJet is an all-cash bid of 625p per share, valuing the airline at around £4.7 billion.
EasyJet’s board rejected the offer on the grounds it undervalues the company and called it opportunistic.
Castlelake has partnered with two European investors to meet EU rules requiring majority ownership by EU nationals.
The EU partners include Peter Bellew, with experience at easyJet and other airlines, and Mark Breen, CEO of Oneiros Aerospace.
Castlelake’s previous offers were 560p and 600p per share, both rejected by easyJet.
EasyJet’s shares dropped about 20% earlier in the year but have risen 36% in the past month amid takeover talks.
There is a takeover deadline for Castlelake to announce an offer by 5pm on June 26.
Past takeover interest included approaches from MSC and Wizz Air, both rejected by easyJet.
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China’s Commerce Ministry has banned 10 US technology companies from receiving dual-use exports, which are goods that can be used for both civilian and military purposes. This move follows recent US restrictions on Chinese tech firms linked to the military, and it also limits Chinese government purchases of products from 46 American companies.
Key Facts
China sanctioned 10 US tech companies, blocking exports of dual-use items to them.
Dual-use items can be used for both military and civilian purposes.
The sanctioned US companies include drone makers and rare earth mining firms.
China’s sanctions respond to the US Pentagon’s blacklist of several Chinese tech companies with alleged military links.
China also banned government entities from buying products from 46 US companies such as Lockheed Martin and Raytheon.
The US restrictions prevent Chinese firms like Alibaba and Baidu from getting US military contracts.
China says its sanctions protect national security and counter what it calls wrongful US expansion of sanctions.
The moves are part of ongoing tensions over military ties and trade between the US and China.
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A couple who are fans of the BBC show Gavin and Stacey bought the house used for Uncle Bryn’s character in the series. They plan to turn the house into a holiday rental where visitors can enjoy a themed stay related to the show.
Key Facts
Jaxx Nelson and Tom Bodfish from Banbury bought Uncle Bryn’s house in Barry, south Wales, for £210,000.
The house appeared in the Gavin and Stacey show, which started in 2007.
The purchase happened shortly after another fan bought Doris’s house from the same street.
The couple plans to make the house a holiday rental with decorations and surprises related to the show.
The house is known for famous scenes, including Bryn using the internet to help Gavin.
Fans often visit the house, sometimes taking photos, which the new owners find unusual.
The couple is connected with Gavin and Stacey-themed tours in Barry and wants fans to enjoy an authentic experience.
Guests will be asked not to mention a fishing trip, a notable moment from the series.
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Research shows that Generation Z workers are earning more money early in their careers than millennials did at the same age. This pay increase is partly due to rises in the minimum wage, but challenges like higher living costs and economic troubles could affect future earnings.
Key Facts
Generation Z includes people born roughly between 1997 and 2012.
Research from the Resolution Foundation finds Gen Z’s real pay at age 24 is 12% higher than millennials at the same age.
Millennials, born in the 1980s and 1990s, faced lower income growth partly due to starting work near the 2008 financial crisis.
The lowest-paid Gen Z workers saw a 36% real pay increase between 2012 and 2025, mainly due to minimum wage increases.
Median hourly pay for Gen Z workers aged 22-29 grew by 15% between 2012 and 2025.
Those aged 16-24 who are not working, studying, or training (called "Neets") number about 1 million in Britain.
Experts warn the number of Neets could grow by 25% by the early 2030s without government help.
Economic problems like higher prices and weaker growth from the Middle East conflict may lower real wages for Gen Z soon.
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Less than half of the homes put up for auction in Australia's main cities sold recently, marking the lowest rate in six years. This decline in sales comes as interest rates remain high and the government debates changes to property tax rules.
Key Facts
The overall auction clearance rate in Australian capital cities was 47.4% for the week ending June 21.
Sydney had a clearance rate of 47.4%, Melbourne 50.6%, Brisbane 33.3%, Perth and Adelaide 40%, and Canberra 47.1%.
These clearance rates are the lowest since April 2020, during the start of the COVID-19 pandemic.
Nearly 24% of scheduled auctions were cancelled, and about 48% sold before auction.
The Reserve Bank of Australia kept interest rates at 4.35%, affecting mortgage repayments.
The government plans to change capital gains tax discounts and negative gearing rules, which are currently being debated in parliament.
Some politicians criticize the proposed changes as unfair, while others say they aim to help first-time homebuyers.
A senator remarked that the housing market is struggling because many people cannot afford to buy homes.
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Toy Story 5 earned over $300 million worldwide in its opening weekend, marking the highest opening for the Toy Story series. The film made $160 million in North America and $150 million internationally but still needs to earn more than twice its $250 million production budget to cover all costs.
Key Facts
Toy Story 5 was released on June 19 and faced competition from a digital tablet in the story.
It had the biggest opening weekend ever for the Toy Story franchise.
The film earned more than $160 million in North America and $150 million internationally in its first weekend.
The movie’s production budget was about $250 million.
Films usually need to earn at least twice their production budget to cover marketing and other expenses.
The Toy Story series has made over $3 billion worldwide since 1995.
Previous Toy Story films, especially parts 3 and 4, each made over $1 billion.
The film industry faces challenges like lower box office revenue since the Covid-19 pandemic and competition from streaming services.
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