June 09, 2025

The Actual News

Just the Facts

Business News

Business news, market updates, and economic developments

Ed Miliband 'considering' regional energy pricing

Ed Miliband, the energy secretary, is thinking about making energy prices different in various parts of the country. How this would work is not clear, but it might make energy bills less for areas like Scotland, where a lot of energy is made. However, this idea is not liked by everyone, with some folks saying it could mean higher bills for a lot of people.

Key Facts:

  • Ed Miliband is reviewing plans for "zonal pricing", a way of setting energy costs differently in different places.
  • This idea might lower bills in areas that make a lot of energy, like Scotland.
  • Not everyone likes this idea. Some people think it could make bills higher.
  • This change could be the biggest one in the energy market since the 1990s.
  • Different countries, like Australia, Italy, and Sweden use this kind of pricing.
  • Some energy businesses like this idea, but others do not.
  • The government has not made a decision yet. They are still thinking about all the options and want to make sure everyone's bills get lower, no matter where they live.

Source Information

BBC Business

Tax-free parcels rule used by Shein and Temu under review

The UK government is looking into changing a rule that lets small packages enter the UK without taxes if they are worth less than £135. Companies like Shein and Temu use this rule and some British businesses think it is not fair.

Key Facts:

  • There is a rule that lets packages worth less than £135 enter the UK without taxes.
  • Some people believe this rule gives companies like Shein and Temu an advantage over UK businesses.
  • Rachel Reeves, a government worker, said they are going to review the rule because some businesses are not happy with it.
  • This rule has helped Chinese retailers like Shein and Temu who ship small packages to lots of customers.
  • Businesses that bring bigger shipments into the UK have to pay taxes.
  • There are worries that companies may sell goods that don't meet the UK's environmental and ethical standards.
  • Some people are concerned that the UK government is missing out on tax money because of this rule.
  • Some people worry about goods from other countries like China being sold in the UK to avoid paying taxes in other countries.

Source Information

BBC Business
The Briefing Room

The Briefing Room

The article talks about if the UK can become a superpower in AI, which is what the government hopes for.

Key Facts:

  • The UK government wants the country to become a superpower in AI.
  • This topic is discussed in the "The Briefing Room" program on BBC Sounds.
  • The program was released on 24 Apr 2025 and is available for over a year.
  • AI stands for Artificial Intelligence, which means computers and machines that can think and learn like humans.
  • The article does not provide more detailed information or other facts.

Source Information

BBC Business
The Inquiry

The Inquiry

I'm sorry, but there seems to be an error as the text provided doesn't contain any information related to President Trump's economic plan. It appears to be a glitch. Could you please re-enter the contents of the news article?

Key Facts:

Source Information

BBC Business

Opportunity for big US-China trade deal, says Bessent

America's Treasury Secretary, Scott Bessent, said there might be a big trade deal between the United States and China. This comment came while there's a trade dispute between the two countries, with higher costs on goods coming in from both sides.

Key Facts:

  • Scott Bessent is America's Treasury Secretary.
  • Bessent said that there could be a big trade deal between the United States and China.
  • This comes at a time when these two countries are having a trade dispute.
  • A trade dispute means the countries are charging each other more to bring goods in.
  • The United States has put up to 145% extra cost on goods from China.
  • In return, China has put 125% extra cost on goods from the United States.
  • Bessent expressed hopes that the current situation, the trade dispute, would calm down.
  • He also mentioned that the World Bank and the International Monetary Fund should focus more on making economies stable and helping them grow.

Source Information

BBC Business

China sends Boeing planes back to US over tariffs

China has sent back airplanes it bought from the American company, Boeing, because the two countries are having disagreements over trade rules. The boss of Boeing said 50 more planes that were supposed to go to China this year might not be accepted.

Key Facts:

  • China decided to return planes it bought from an American company, Boeing.
  • This came about because of disagreements over trading rules between the US and China.
  • Two airplanes have already been sent back, and more might follow.
  • The US has put a very high extra cost, called a tariff, on stuff it buys from China. China did the same in return.
  • Boeing's boss says they might have to sell the planes meant for China to other customers.
  • Most of the planes Boeing makes are sold to other countries, not just America.
  • Boeing said they talk to Trump's team every day about the trading disagreement between the two countries.
  • Because of these problems, Boeing made less money in the first part of this year.
  • Boeing had already been having trouble before this because their workers went on strike.
  • Boeing hopes to make and sell more planes in the future.

Source Information

BBC Business

Minister pledges 10,000 extra driving tests a month to clear backlog

The transport secretary in England said the government will do more driving tests to lessen the long wait times for learners. The goal is to decrease the wait time to seven weeks by summer 2026.

Key Facts:

  • The transport secretary wants to decrease the number of learner drivers in England waiting more than five months for driving tests.
  • The plan is to provide at least 10,000 extra driving tests a month to help with this.
  • Right now, some people have to wait at least six months to book a driving test.
  • By summer 2026, the government wants to reduce average waiting times to no more than seven weeks.
  • The government originally had hoped to reduce waiting times to seven weeks by the end of this year.
  • A lot more tests were booked last year — 1.95 million in total.
  • One reason for the long wait times is fewer examiners available to do the tests.
  • The government also wants to stop 'test booking bots' — computer programs that book lots of test slots quickly before people can get them.
  • The system for booking driving tests might change to help with these problems.

Source Information

BBC Business

Pressure builds on UK finances as Reeves pushes for US trade deal

The UK government borrowed more money than planned last year, which might affect how much the government can spend or how much people have to pay in taxes. The UK Chancellor, Rachel Reeves, is trying to make a deal with the US to avoid extra charges on UK goods sold in America.

Key Facts:

  • The UK government borrowed £151.9 billion in the year to March, which was £20.7 billion more than the previous year.
  • Chancellor Rachel Reeves is trying to make a new trade deal with the US. This could help the UK avoid extra charges, called tariffs, on goods sold in America.
  • Some people think that the government might have to cut its spending or increase taxes to handle the extra borrowing.
  • The UK, like many countries, is being charged extra money (tariffs) by the US on goods it sells there.
  • The International Monetary Fund, a big organization that helps with money matters globally, thinks that the UK's economy won't grow as much as expected in 2025.
  • Tariffs, increasing prices (inflation), and rising costs of borrowing may slow down the UK's economic growth.
  • Taxes brought in more money for the government, but they still borrowed more than expected because of higher spending on pay and benefits.
  • The government's debt interest, which is money it pays because it borrowed money, increased by £1.3 billion to £4.3 billion last month.

Source Information

BBC Business
The record-breaking tunnel being built from Denmark to Germany

The record-breaking tunnel being built from Denmark to Germany

Denmark and Germany are building a big tunnel under the sea that will be the longest road and train tunnel ever made. This will make traveling between the two countries faster.

Key Facts:

  • Denmark and Germany are building a very large tunnel under the Baltic Sea.
  • When finished, the tunnel will be the longest made-for-roads-and-trains tunnel in the world.
  • This tunnel is 18 kilometers (or 11 miles) long.
  • The sections of the tunnel are being made at a factory and then placed on the sea floor.
  • The project cost about €7.4bn ($8.1bn; £6.3bn). Most of this money came from Denmark and €1.3bn was given by the European Commission.
  • When the tunnel is finished, a car drive or train ride between Rødbyhavn in Denmark and Puttgarten in Germany will take just 10 minutes.
  • The new railway will also make the travel time between Copenhagen, Denmark, and Hamburg, Germany, half as long.
  • The tunnel builders are a Danish company called Femern.
  • The builders use special equipment and careful methods to put the tunnel sections in the right place under the sea.

Source Information

BBC Business
Five ways for first-time buyers to get on the housing ladder

Five ways for first-time buyers to get on the housing ladder

The article talks about different ways that can help first-time home buyers get their own house. It includes starting to save early, exploring low-deposit mortgage options, thinking about shared ownership, and considering an 'income boost' mortgage.

Key Facts:

  • Mortgage rates, which are the costs you pay to borrow money to buy a house, are expected to come down.
  • The average deposit for a first-time home buyer is £34,500.
  • A Lifetime ISA (individual savings account) gives bonuses for those who are saving to buy their first home.
  • Low-deposit mortgages, where you don't need to save as much money before taking the loan, are becoming more available.
  • Shared ownership is an option where you can buy a portion of a house and pay rent for the rest.
  • ‘Income boost’ mortgages let homebuyers add family members to their mortgage to borrow more money.
  • Digital mortgage broker Tembo and some others offer help to first-time buyers.
  • Some options may not work well for self-employed homebuyers because of strict loan rules.

Source Information

BBC Business
Why China curbing rare earth exports is a blow to the US

Why China curbing rare earth exports is a blow to the US

China has cut back on giving out important minerals and magnets called rare earths to the United States. This could make things hard for the United States because they need these materials to make things like computer parts and powerful magnets. The United States is trying to figure out how to make more of these materials on their own.

Key Facts:

  • China and the United States are not getting along in trade, meaning they're not dealing fairly with each other when buying and selling goods.
  • China has stopped sending out some minerals and magnets, known as "rare earths," to the United States.
  • These rare earths are used a lot in high-tech items, like computer hard drives, loudspeakers, and even jet engines.
  • Rare earths are hard to find on their own in nature and can be dangerous to get out safely.
  • China is in control of most of the production and processing of these rare earths.
  • The United States wants to make more of these materials themselves to not depend on imports.
  • China built its control over rare earths on a plan made by their government.
  • Some examples of these rare earths are neodymium, yttrium, and europium.

Source Information

BBC Business
Firms say Meta not helping them to recover hacked accounts

Firms say Meta not helping them to recover hacked accounts

Wedding dress designer Catherine Deane's company had trouble getting their Instagram account back after it got hacked. It took them four months and a lot of emails to get help from Meta, the company that owns Instagram.

Key Facts:

  • Catherine Deane's company uses Instagram as its main way to connect with customers.
  • Her company's Instagram account got hacked after someone tricked them into sharing their login info.
  • The hackers took over the account, preventing the company from using it.
  • Catherine Deane tried to get help from Meta, who runs Instagram, but didn't hear back for a long time.
  • It took four months and a lot of effort before her company's Instagram account was given back.
  • Other people also find it hard to get their hacked Instagram and Facebook accounts back, according to Jonas Borchgrevink, who runs a company to help with this problem.
  • Meta encourages people to use good passwords and use features like Security Check-up to stay safe, but wouldn't give further details about how big this problem is.
  • Hackers can use the social media accounts they hack to do bad things like trick people into sending money, spread harmful computer programs, or block a company's access to its account.

Source Information

BBC Business
Was China the reason Guyana faced higher Trump tariff?

Was China the reason Guyana faced higher Trump tariff?

The president of the United States, Donald Trump, decided not to make the taxes on goods from the country of Guyana higher than they were. Before, he planned to make Guyana pay more for selling their stuff in the US, but then he changed his mind. Now, Guyana will pay the same amount as most other countries.

Key Facts:

  • The United States president, Donald Trump, decided not to increase taxes on goods from Guyana.
  • Before, Guyana was supposed to pay 38% more to sell their goods in the US.
  • Now, Guyana will only need to pay an extra 10% (called a tariff).
  • This is the same amount as most other countries, except for Canada, China, and Mexico.
  • The US and China are in a fight over who has more power in Guyana.
  • China has spent a lot of money building things like roads and hospitals in Guyana.
  • Even though they're fighting, the US still buys a lot of important stuff from Guyana, like oil, gold, and bauxite (which is used to make aluminum).
  • All the countries in the Caribbean area, not just Guyana, will have to pay a 10% tariff on their stuff that they sell to the United States.
  • Goods from China that go through the US to reach the Caribbean will be 125% more expensive because of the tariff.
  • The Caribbean buys a lot of their stuff from the US, so this could make things more expensive for them.

Source Information

BBC Business
The curious case of why a billionaire wants to buy Royal Mail

The curious case of why a billionaire wants to buy Royal Mail

Soon, a man from Czech who is very rich will be in charge of Royal Mail, a company in the UK that has been around for 500 years. Although Royal Mail has been having difficulties lately, this man still wants to buy it.

Key Facts:

  • Royal Mail was started over 500 years ago.
  • Daniel Kretinsky, a rich man from Czech, is planning to buy Royal Mail.
  • Kretinsky also owns parts of a football club and a supermarket.
  • Royal Mail is not making as much money as it used to and is losing customers.
  • The number of letters being sent by Royal Mail has been going down for years.
  • Because more people are buying things online, there are more packages to deliver, but other companies are delivering more of these than Royal Mail.
  • Royal Mail was separated from The Post Office in 2012, and then it was sold the next year.
  • Right now, Royal Mail is worth just over £2 billion.

Source Information

BBC Business
Do we need cocoa-free chocolate and is it nice?

Do we need cocoa-free chocolate and is it nice?

Cocoa-free chocolate, made with ingredients like sunflower seeds and fava beans, is appearing in European stores as the cost of real chocolate rises. The price of cocoa, the main ingredient in chocolate, has gone up because of changes in weather and less cocoa farming.

Key Facts:

  • The price of chocolate has gone up by 9% over the last year.
  • The main ingredient in chocolate, called cocoa, has gone up in price by 300% in one year.
  • Cocoa is made from grounded cacao beans that are first fermented and roasted.
  • Weather changes and less cocoa farming are causing the increase in cocoa's price.
  • Some cocoa-free chocolates are made with sunflower seeds or fava beans.
  • Cocoa-free chocolate might not smell or taste like regular chocolate.
  • One company making cocoa-free chocolate is Foreverland. They use carob husks to make their product.
  • Another company, Planet A Foods, uses sunflower seeds to make their cocoa-free chocolate. They already have their product in about 35 different things you can buy in the store.

Source Information

BBC Business
The plans to put data centres in orbit and on the Moon

The plans to put data centres in orbit and on the Moon

Lonestar Data Holdings, a company based in Florida, has tested a small data center that went to the Moon on a lunar lander. They plan to build more data centers in space, because these centers can use solar energy, store a lot of data, and won't disturb people on Earth.

Key Facts:

  • Lonestar Data Holdings is a company that wants to put data centers in space.
  • They have already tested a tiny data center that went to the Moon on a spacecraft called the Athena Lunar Lander.
  • A data center is a big building full of computers that hold and manage lots of information for websites, companies, and governments.
  • Putting data centers in space can offer secure and reliable data handling because there's less chance of someone messing with it and there's a lot of solar energy in space to power them.
  • Because more data than ever needs to be stored and managed due to things like artificial intelligence, the demand for data centers is going to grow 19%-22% by 2030.
  • Data centers take up a lot of space and use a lot of power and water. Plus, people don't want them surrounding their homes, schools, and parks.
  • Having data centers in space could make dealing with data for things in space like satellites or spacecraft quicker and easier because the information wouldn't have to travel back and forth between Earth.
  • The Ascend report studied the possibility of data centers in space and found it could change the way data is handled in Europe and be better for the environment.
  • But, they need to create rockets that emit 10 times less pollution to make space-based data centers really environment friendly. They also need to consider how these large systems can handle lots of data and how to get them into space.

Source Information

BBC Business
The Canadians and Danes boycotting American products

The Canadians and Danes boycotting American products

Many people in Canada and some parts of Europe are choosing not to buy things made in the United States. This is because they are not happy with some decisions made by President Trump, such as high taxes on items coming into the U.S. from other countries.

Key Facts:

  • People in Canada and Europe are avoiding buying U.S. products.
  • They are doing this because they are not happy with President Trump's decisions about taxes on products coming into the U.S. These types of taxes are called "tariffs."
  • There are new apps in Canada, like Maple Scan, to help people find and buy Canadian products.
  • Some of these decisions include taxes on cars, steel, and aluminum from other countries. This has made many people and businesses around the world worried.
  • President Trump suggested that Canada could become part of the U.S. as a 51st state, but the Canadian government said no.
  • Canada has responded by placing its own taxes on U.S. products.
  • Some grocery stores in Denmark show a symbol to help people find European brands.
  • People are also canceling their subscriptions to U.S. online entertainment services like Netflix and Disney Plus.

Source Information

BBC Business
A revolution is under way in India's trainer industry

A revolution is under way in India's trainer industry

Taiwan's Hong Fu Industrial Group, a company that makes sports shoes, is building a big factory in India. The factory, once finished, could make 25 million pairs of shoes every year and give jobs to about 25,000 people. India's government welcomes this, believing it can help improve the quality of shoes made in India.

Key Facts:

  • Hong Fu Industrial Group makes about 200 million pairs of sports shoes every year.
  • The company is currently building a factory in India, which will be ready in three to five years.
  • When the factory is working at full speed, it will be able to make 25 million pairs of shoes each year.
  • The new factory may have up to 25,000 workers.
  • India's government hopes this will help to make better quality shoes in India.
  • Most shoes sold in India have to follow new quality rules made by the Bureau of Indian Standards.
  • A large part of India's shoe market is made up of small, local shoe makers.
  • These local shoe makers can make cheaper shoes, which more people in India can afford.
  • Some new Indian shoe companies are starting up to cater to India's growing number of people with more money to spend.

Source Information

BBC Tech
Trump has turned his back on the foundation of US economic might - the fallout will be messy

Trump has turned his back on the foundation of US economic might - the fallout will be messy

President Donald Trump made a decision to put big fees, called tariffs, on almost every product that comes into the US from other countries. The purpose of this decision is to try to keep more jobs and work in the US.

Key Facts:

  • Donald Trump decided to put tariffs of at least 10% on almost all products coming into the US.
  • This decision is like building a wall to keep jobs in the US, not to keep people out.
  • These tariffs take the US back to old times when it tried to protect its industries by putting high fees on foreign goods.
  • Donald Trump believes that high tariffs made America great before and could do it again.
  • The decision made by President Trump goes against the idea of free trade. This idea says that all countries do better when they make what they're best at and then trade freely with each other.
  • The tariffs are different for each country and are worked out by studying the amount of goods that country sells to the US.
  • The White House sees selling more goods to the US than the US sells to them as "cheating", and the tariffs are meant to fix that unfairness.

Source Information

BBC Business
Starmer's response to Trump tariffs is both to slow down and go faster

Starmer's response to Trump tariffs is both to slow down and go faster

President Trump has decided to put extra charges, called tariffs, on goods coming from all countries to the US, including the UK. This is causing a lot of worry because it can impact how money moves around the world. Now, UK leaders are trying to figure out a way to lessen the damage, maybe through making a deal with the US.

Key Facts:

  • President Trump has put an extra 10% charge, known as a tariff, on all goods coming into the US from other countries, including the UK.
  • This decision has caused the stock markets, which is where people buy and sell parts of companies, to drop in value.
  • UK Prime Minister Keir Starmer and other UK leaders are working to make a deal with the US to lessen the damage.
  • The US and China both have not backed down and are putting extra charges on each other's goods.
  • The UK has been thinking of making adjustments to rules about electric cars and online safety to help with the situation.
  • The potential deal with the US will be simple, not detailed, according to someone in the government.
  • The UK government isn't just waiting for this possible deal - they're also exploring other solutions.
  • A group of UK leaders had been getting ready for many situations that could happen because of these extra charges, but now that they have arrived, they're asking businesses for their opinions on what to do next.

Source Information

BBC Business