The UK government has taken full control of British Steel, previously owned by China’s Jingye Group, after the company planned to close the steel plant due to financial losses. Jingye says it will seek full compensation through legal action, while the UK government is preparing rules to decide any compensation.
Key Facts
The UK nationalised British Steel’s Scunthorpe plant to keep it operating and protect national steel production.
Jingye Group, a Chinese company, bought the plant in 2020 but wanted to shut it down due to losing about £700,000 daily.
The government took over operations in April 2025 but only fully owned the company starting this week.
Jingye is demanding full compensation from the UK government for the nationalisation.
The UK plans to release compensation rules in the autumn with an independent assessor to determine payments.
China’s government opposes the nationalisation and says it harms Chinese company rights and investor confidence.
The steelworks employs around 2,700 people and is linked to other industries in North Lincolnshire.
The government is spending roughly £1.3 million a day to keep the plant running and sees closing it as a risk to UK steel independence.
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The article explains how artificial intelligence (AI) is changing traditional “prestige” careers, like management consulting, by automating routine tasks. Instead of relying on old paths through elite schools and firms, future success will depend on human skills such as cultural understanding, creativity, and storytelling, which AI cannot easily replicate.
Key Facts
AI is making traditional white-collar jobs that focus on repeating known processes less valuable.
Management consulting, a typical prestige career, is predicted to decline due to AI automation.
Historically, prestigious careers required elite education and following established methods.
New valuable skills include cultural intelligence, empathy, imagination, and storytelling.
These human skills don’t depend on traditional credentials or narrow career tracks.
Success in the future job market will come from creating meaning and cultural connection, not just technical skill.
The author’s own career path shows alternative ways to achieve success beyond traditional prestige routes.
The shift challenges old ideas that only certain institutions or backgrounds can offer valuable careers.
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A thinktank report says improving the UK population’s health to what it was in 2014 could add 2% to the country’s economic output and bring £72 billion more in public money through higher taxes and lower health costs. The report highlights that poor health reduces the number of people able to work and increases government spending on healthcare and benefits.
Key Facts
The UK’s healthy life expectancy fell by two years between 2014 and 2022-24.
The number of working-age people with long-term health conditions rose from 11.7 million to 15.7 million.
People in the richest areas live up to 20 years longer in good health than those in the poorest areas.
Poor health increases costs for the NHS and disability benefits and reduces tax revenue because fewer people can work.
Restoring health levels to those of 2014 could increase economic output by £57 billion.
This improvement could also boost public finances by £72 billion through higher taxes and lower social security and healthcare spending.
The UK is one of five rich countries experiencing a decline in healthy life expectancy over the past decade.
The research calls for more focus on preventing illness and investing in public health, not just treatment.
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Andy Burnham is set to become the new UK prime minister and faces decisions about North Sea oil and gas drilling. Some existing projects are under legal review, new exploration licenses are banned by his party’s policy, and the industry wants changes to a tax on oil profits to encourage investment.
Key Facts
The Rosebank and Jackdaw oil fields were approved by the previous government but are under legal challenge due to environmental concerns.
Consultations on these projects are ongoing and will close in August.
Labour’s 2024 manifesto promised to ban new oil and gas exploration licenses, a policy already put into effect by the current Energy Secretary.
“Tie-backs” allow production near licensed areas but do not count as new licenses.
Large oil companies have been selling North Sea assets to smaller firms focused on extracting existing supplies rather than exploring new areas.
The Energy Profits Levy (a windfall tax) currently takes 78% from oil profits regardless of price, which the industry says discourages investment.
This levy will be replaced in 2030 by a tax that only applies when prices are high.
Changing or scrapping this tax is seen as a key move to attract more investment and support jobs, and may be a major decision for Burnham.
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The number of visits to Meghan Markle's online store, As Ever, dropped by 46% in the first half of 2026, going from 268,000 visits in January to 145,000 in June. The store sells food, drink, and household items and currently only ships to the United States.
Key Facts
Meghan Markle launched the As Ever website and brand in 2025 alongside her Netflix series With Love, Meghan.
The website sells products like jams, honey, wine, flower sprinkles, and candles.
Visits to the site fell steadily from January to June 2026, with a total drop of about 124,000 visits per month.
About 45% of visits in June 2026 came from the United States, the only shipping destination currently available.
The store initially sold out quickly after its first product drop in April 2025, but supply issues delayed meeting demand until August 2025.
No official sales or profit numbers have been released, so website visits are the main public measure of the store’s performance.
Netflix was an early partner in As Ever but has since stepped back from this business connection.
Meghan and Prince Harry have had mixed success with their media projects and partnerships since leaving royal duties in 2020.
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The Bank of England announced it will stop accepting bonds linked to thermal coal as collateral for loans to commercial banks starting in October. This move aims to reduce financial risks linked to coal, a highly polluting fossil fuel, and encourage a shift towards greener energy.
Key Facts
From October, the Bank of England will no longer accept thermal coal bonds as collateral for key loans.
Thermal coal is burned in power plants and is one of the most polluting forms of energy.
Commercial banks like Barclays, Lloyds, NatWest, and HSBC borrow money from the central bank using bonds as guarantees.
The Bank sees coal-linked bonds as risky because their value might drop due to the move towards net zero emissions.
About 150 big financial companies already limit their involvement with the coal industry.
The Bank’s policy is stricter than most other western central banks, including the European Central Bank.
The announcement was made quietly in early June without much public attention.
Activists want the policy to cover more than coal, including other harmful fossil fuels and deforestation.
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Taylor Farms has increased its recall of iceberg lettuce to include 27 states. The recall is due to a parasite found in lettuce from a supplier in central Mexico, which caused a severe diarrhea outbreak.
Key Facts
Taylor Farms issued a voluntary recall of iceberg lettuce.
The recalled lettuce was sent to 27 U.S. states.
The source of the lettuce is a supplier located in central Mexico.
Federal health officials linked the lettuce to the spread of a parasite.
The parasite causes severe diarrhea.
The Centers for Disease Control and Prevention (CDC) helped identify the contaminated lettuce.
The recall includes shredded iceberg lettuce specifically.
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Russians are using more cash because mobile internet shutdowns make card payments difficult, and many businesses want to avoid paying taxes amid growing financial pressure from the war in Ukraine. The increase in cash use makes it harder for the government to collect taxes while the economy slows and public finances are strained.
Key Facts
Since the start of 2024, Russia has put 1.56 trillion roubles (about $20 billion) more cash into circulation, a largest rise in recent years outside the pandemic.
The government frequently shuts down mobile internet to counter Ukrainian drone attacks, which disrupts card payments and pushes people to use cash.
Cash use surged earlier during events like partial military mobilization in 2022 and a mutiny by a mercenary group in 2023.
The Russian government raised the VAT tax from 20% to 22% and lowered the threshold for small businesses to pay VAT, increasing financial pressure on many firms.
To avoid taxes, some businesses prefer customers pay in cash and pay wages "under the table," which hides income from tax authorities.
About 6% of small business owners reported using illegal methods to reduce tax burden, like skipping cash register receipts.
Russia's economy is slowing, with GDP growth forecast at only 0.4% for 2026, the weakest since 2022.
The government needs more tax revenue to fund the war in Ukraine but faces challenges due to widespread cash use and a growing informal economy.
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Diesel and petrol prices in Australia have risen sharply recently due to higher global oil prices driven by conflict in the Middle East. The increase in fuel costs may lead to higher inflation and a possible rise in interest rates from the Reserve Bank. Meanwhile, some ski fields in Australia have recorded unusually high July temperatures.
Key Facts
Diesel prices increased by about 15 cents per litre over five days in several Australian cities.
Petrol prices also rose by around seven cents per litre in the past week.
Global oil prices have climbed from about $70 to $88 per barrel after renewed conflict in the Middle East.
The federal government’s partial fuel excise cut will expire on August 2, potentially adding 16 cents per litre to fuel costs unless extended.
Higher fuel prices contribute to inflation, increasing the likelihood of an interest rate hike by the Reserve Bank.
Ski fields in the Australian Alps recorded record-high July temperatures, with Mount Hotham reaching 11.1°C, above the previous record from 1994.
Some political debate surrounds migration and multiculturalism in Australia, but this was noted without opinion.
The source of rising oil prices is linked to geopolitical events in the Middle East affecting supply and demand globally.
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Target has recalled over 200,000 pairs of children's sandals because small pearls attached to the shoes can come off and cause choking. Customers who bought the sandals are asked to stop using them and return them for a full refund.
Key Facts
The recalled sandals are Cat & Jack-branded raffia sandals with plastic pearls.
Target received 23 reports of pearls falling off the sandals.
No injuries have been reported so far.
The sandals were sold from January 2026 through May 2026.
Each pair costs about $20.
Customers can return the sandals to Target stores or mail them back using a prepaid label.
Target operates more than 2,000 stores nationwide.
Target had previous recalls in 2020 for children's products due to choking hazards.
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Yingtao, a Chinese restaurant in New York City, has earned a Michelin star for its food. Chef Emily Yuen updates traditional family recipes from different Chinese regions with modern cooking styles.
Key Facts
Yingtao is located in New York City.
The restaurant has received a Michelin star, a prestigious award for high-quality food.
Chef Emily Yuen leads the kitchen at Yingtao.
Yingtao’s menu features recipes from Xi'an, Shanghai, and Hong Kong.
The dishes combine traditional Chinese flavors with modern cooking techniques.
The restaurant aims to offer a new take on classic family recipes.
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The article advises maintaining strong enforcement of the USMCA trade agreement between the United States, Mexico, and Canada. It suggests avoiding any changes that would weaken the terms of this agreement.
Key Facts
The USMCA is a trade agreement among the United States, Mexico, and Canada.
The article recommends not altering the agreement’s terms to make them less strict.
Holding firm on the agreement helps enforce fair trade rules.
The agreement covers trade regulations and cooperation between the three countries.
USMCA replaced the older NAFTA agreement.
Maintaining strong terms supports economic stability among the partner countries.
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An independent bakery owner, Rich Myers of Get Baked, criticized the TV show The Voice UK and ITV for asking his bakery to provide free cakes for their guests and judges. The show's production company apologized and said they would prevent such requests in the future.
Key Facts
The Voice UK asked Get Baked to supply cakes for free for dressing rooms and green rooms during filming.
ITV and Lifted Entertainment said they could not pay or offer anything in return, only "exposure" from influential show participants.
Rich Myers called the request a "kick in the teeth" and a "total disgrace."
Get Baked has 15 years of experience and does not usually give away products for free.
The cost of supplying cakes for one day would be about £100, enough for 20 to 25 people.
Other independent businesses have received similar requests from large companies.
Lifted Entertainment apologized and said the email was not in line with their usual standards.
Steps have been taken to prevent future requests for free products from small businesses.
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The Robert Mondavi Winery, which opened in 1966 and was the first big winery in Napa Valley after Prohibition, helped make the region famous for wine. The winery has recently been renovated and is now going through a renewal period.
Key Facts
The Robert Mondavi Winery opened in 1966.
It was the first major winery in Napa Valley after Prohibition, which ended the legal production of alcohol for many years.
The winery played a key role in making Napa Valley well-known for wine.
Recently, the winery underwent renovations to update its facilities.
The winery is currently experiencing a period of rebirth following the renovation.
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Last year, many unpaid carers in the UK were told to repay large amounts of money due to mistakes in the government’s system for carer’s allowance. Despite changes made to improve the system, over 32,000 overpayments happened, with some carers owing more than £20,000 and facing possible legal trouble.
Key Facts
In 2025-26, 32,559 overpayments were made, totaling £33 million, asking carers to repay money.
Some carers were asked to repay debts over £20,000, with the number of extreme debts rising from 46 to 78.
Over half of the overpayments were more than £500, and many were not caught quickly by officials.
About 1,166 carers owed over £5,000, putting them at risk of fraud investigations.
The Department for Work and Pensions (DWP) introduced new rules to detect overpayments faster starting April 2025.
An independent review found the problem was due to system failures and poor management at the DWP, not carers cheating.
The DWP promised to review and repay some wrongly charged money but has not addressed all compensation issues.
Carer groups and politicians say the current system is unfair and outdated, causing stress and financial problems for carers.
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CBS Mornings Deals offers special discounts on products that can improve daily life. Customers can visit the website cbsdeals.com to find these deals. CBS earns a commission when people buy items through the site.
Key Facts
CBS Mornings Deals provides exclusive discounts on selected products.
The products aim to enhance everyday living.
Customers can access deals by visiting the website cbsdeals.com.
CBS receives commissions from purchases made via this site.
The deals are featured on the CBS News platform.
The offer encourages viewers to shop through the provided links.
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Taylor Farms recalled shredded iceberg lettuce after the FDA found it was linked to a parasite causing diarrhea. The recalled lettuce was sold at Taco Bell restaurants in several U.S. states, and Taco Bell stopped using that lettuce.
Key Facts
Taylor Farms is the supplier linked to the lettuce recall.
The lettuce was connected to a parasite that can cause diarrhea.
The FDA recommended people avoid shredded iceberg lettuce from this supplier.
The affected lettuce was distributed to Taco Bell locations in Indiana, Kentucky, Michigan, Ohio, and West Virginia.
Taco Bell removed the lettuce from their restaurants.
Taylor Farms voluntarily recalled the contaminated lettuce.
The recall aims to prevent illness caused by the parasitic infection.
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Iraq signed 48 agreements with U.S. companies, mostly related to oil and energy, during Prime Minister Ali al-Zaidi’s visit to Washington. These deals include rebuilding an oil pipeline to Syria and partnerships with major U.S. firms like ExxonMobil and Chevron, totaling over $60 billion.
Key Facts
Iraq and U.S. companies signed 48 agreements covering oil, electricity, healthcare, and technology sectors.
Major U.S. energy firms involved include ExxonMobil, Chevron, Shell, Halliburton, and KBR.
Iraq and Syria agreed to rebuild an oil pipeline linking northern Iraq to Syria’s Mediterranean coast.
Chevron will lead the pipeline project, which could transport two million barrels of crude oil per day.
The U.S. State Department supports the pipeline project with an international consortium handling its financial and technical aspects.
Iraq also signed a deal with Starlink to bring satellite internet services to the country.
The agreements aim to reduce Iraq’s reliance on the Strait of Hormuz for oil exports.
Total value of the initial agreements is estimated to be more than $60 billion.
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Andy Burnham plans to close the UK government’s Department for Science, Innovation and Technology as part of a government reorganization. This plan has caused concern among politicians, government officials, and tech experts who worry it will harm the UK’s role in science and technology, especially in areas like artificial intelligence (AI).
Key Facts
Andy Burnham, the incoming UK prime minister, wants to scrap the Department for Science, Innovation and Technology.
The plan is part of a larger rearrangement of government departments but has not been finalized yet.
Many experts and MPs are worried this move will slow down important work on technology and AI, which they see as crucial for the economy and national security.
Some technology responsibilities might be moved to a bigger business department led by a government official named Jonathan Reynolds.
Oversight of AI in the public sector might be given to the cabinet secretary instead of a dedicated minister.
The UK has a strong scientific base and successful companies like DeepMind, which some believe should be supported, not sidelined.
Critics say that merging tech into a large business department risks losing focus and wasting time on organizing rather than developing technology.
Burnham is expected to finalize his government plans soon and may announce policies on housing, energy, and transport costs.
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