The Actual News

Neutral summaries of your favorite news sources — just the facts.

Business News

Business news, market updates, and economic developments

Swatch stores close for second day after crowds

Swatch stores close for second day after crowds

May 17, 2026 • BBC Top Stories

Summary

Swatch stores in the UK closed for a second day because large crowds came to buy a new pocket watch priced at £335. The company asked people not to rush stores since the watch will be available for months, and police were called to several locations due to safety concerns.

Key Facts

  • Swatch stores in Manchester and Liverpool closed for two days due to crowd safety.
  • The new watch, called the "Royal Pop," costs about £335 but is reselling online for up to £16,000.
  • Police were called to stores in the UK, France, Switzerland, and an event was canceled in Dubai.
  • One man was arrested in Cardiff, and threats were reported outside a Liverpool store.
  • The watch is a collaboration between Swatch and luxury brand Audemars Piguet.
  • The design is inspired by 1950s-60s Pop Art and combines styles from both brands.
  • Swatch advised customers not to form large queues and said sales might pause if too many people gather.
  • In New York, people camped in Times Square for a week to buy the watch, with some getting sick.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Top Stories BBC Business
Favorite Philly foods: Cheesesteaks, pretzels and hoagies

Favorite Philly foods: Cheesesteaks, pretzels and hoagies

May 17, 2026 • CBS News

Summary

This article highlights three popular foods in Philadelphia: cheesesteaks, soft pretzels, and hoagies. It shares details from local business owners about what makes these foods special and their significance in Philadelphia culture.

Key Facts

  • The cheesesteak is a sandwich with thinly sliced ribeye steak, onions, and cheese, served on an Italian roll.
  • Pat’s King of Steaks in Philadelphia is a famous cheesesteak shop owned by Frankie Olivieri, who emphasizes not chopping the meat.
  • Soft pretzels have been a popular Philly food since at least 1861 and are known for their figure-eight shape.
  • Center City Soft Pretzel Co. produces tens of thousands of pretzels each week and sells them for 90 cents each.
  • Pretzels are considered a convenient, on-the-go food and a staple of Philadelphia’s blue-collar culture.
  • Liberty Kitchen offers 25 kinds of hoagies, another popular Philadelphia sandwich.
  • Philadelphia-style pretzels are thick, crusty, salty, and traditionally eaten with mustard.
  • Both cheesesteaks and pretzels hold cultural significance and are cherished by many Philadelphians.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
The distinctly Finnish designs of Marimekko

The distinctly Finnish designs of Marimekko

May 17, 2026 • CBS News

Summary

Marimekko is a Finnish company known for its bold designs on fabrics, home goods, and clothes. The company has been creating colorful and unique designs for 75 years.

Key Facts

  • Marimekko is based in Finland.
  • The company specializes in fabrics, housewares, and fashion.
  • Its designs are known for being bright and bold.
  • Marimekko has a 75-year history.
  • The company’s style is widely recognized around the world.
  • The article was reported by CBS News correspondent Seth Doane.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Soft pretzels, an essential Philly food

Soft pretzels, an essential Philly food

May 17, 2026 • CBS News

Summary

Soft pretzels are a traditional and popular food in Philadelphia. The Center City Soft Pretzel Company produces tens of thousands of pretzels every week to meet local demand.

Key Facts

  • Soft pretzels are an important food tradition in Philadelphia.
  • The Center City Soft Pretzel Company is a major producer of soft pretzels in the city.
  • This company makes tens of thousands of pretzels each week.
  • Soft pretzels have a twisted shape, a crunchy outside, and a doughy inside.
  • The pretzels are known for their salty taste.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Designing the future of Louis Vuitton

Designing the future of Louis Vuitton

May 17, 2026 • CBS News

Summary

Louis Vuitton is a well-known French luxury brand founded in 1821 that revolutionized travel with its flat, stackable trunks. Today, designer Nicolas Ghesquière blends the brand’s rich history with new ideas, creating collections that honor craftsmanship while looking to the future.

Key Facts

  • Louis Vuitton was started by a French trunk maker in 1821.
  • The brand's original innovation was a flat, stackable trunk that changed how people travel.
  • Louis Vuitton trunks are made to last a lifetime and are crafted using traditional methods.
  • Nicolas Ghesquière is the current designer shaping Louis Vuitton’s style.
  • Ghesquière draws inspiration from the original trunks for each new fashion collection.
  • The Petite Malle is a small handbag design inspired by the classic trunk.
  • Louis Vuitton is the world’s largest luxury brand with a globally recognized "LV" logo.
  • Upcoming collections include a collaboration with the late artist Keith Haring’s estate.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Is the answer to the housing crunch right in your own backyard?

Is the answer to the housing crunch right in your own backyard?

May 17, 2026 • CBS News

Summary

After the 2020 Almeda Fire in Southern Oregon destroyed many homes, there was a housing shortage. Some people like Jacob and Elize Fry built small rental homes called Accessory Dwelling Units (ADUs) in their backyards to help people who lost housing. California has made it easier and cheaper to build these units, which helps provide affordable long-term rentals.

Key Facts

  • The 2020 Almeda Fire in Oregon destroyed thousands of homes, worsening the housing crisis.
  • Jacob and Elize Fry built two small rental homes (ADUs) in their backyard to help displaced people.
  • ADUs are small, separate houses built on the same property as a main house, also known as granny flats or mother-in-law suites.
  • California laws now allow multiple ADUs on single-family lots, but only for long-term renters, not short-term like Airbnb.
  • There are currently 82,000 ADU building permits in California, showing strong growth in this housing option.
  • UCLA professor Dana Cuff helped pass the California ADU law and lives in an ADU herself.
  • Some neighbors worry ADUs strain local infrastructure such as parking, sewers, and waste services.
  • Tenants living in ADUs often include young families or newlyweds looking for affordable housing options.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Thames Water investors say temporary nationalisation would slow its recovery

Thames Water investors say temporary nationalisation would slow its recovery

May 17, 2026 • Guardian World

Summary

Investors in Thames Water warn that temporarily nationalizing the company would slow its recovery. Thames Water is close to agreeing on a rescue deal with creditors and the water regulator, Ofwat, to avoid running out of money by November.

Key Facts

  • Thames Water faces a financial crisis and needs £10 billion to stabilize and improve services.
  • The company risks running out of money by November without new investment.
  • Creditors and Thames Water are working on a rescue plan that involves no government funding.
  • A “special administration regime,” a form of temporary nationalization, could happen if no deal is reached.
  • Investors say temporary nationalization would cause delays, increase uncertainty, and hinder improvements.
  • Labour politician Andy Burnham supports renationalizing utilities like water and energy.
  • Thames Water has a £17.6 billion debt accumulated since it was privatized.
  • Share prices of other water companies fell after Burnham’s renationalization comments.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World
‘It was like a mosh pit’: Swatch closes stores as watch launch causes crowding and scuffles

‘It was like a mosh pit’: Swatch closes stores as watch launch causes crowding and scuffles

May 17, 2026 • Guardian World

Summary

Swatch’s release of a special edition watch made with Audemars Piguet caused very large crowds and some fights in several cities in Europe and New York. Stores in multiple locations closed temporarily due to safety concerns and crowd control issues.

Key Facts

  • The limited-edition Royal Pop watch was launched by Swatch in collaboration with luxury brand Audemars Piguet.
  • Crowds in Paris reached about 300 people; police used teargas to control the situation.
  • Stores in Milan, Amsterdam, Utrecht, London, and six other UK cities also closed because of crowd problems.
  • In the Netherlands, police had to stop people near The Hague after quarrels broke out.
  • In New York’s Times Square, people pushed and shoved while waiting in line for days.
  • The watch sells for about $400 in stores but is being resold for up to $4,000.
  • Some buyers waited several days in line or paid high prices to get the watch.
  • Swatch has not given a public response about the incidents or store closures.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World Guardian Business
Demand for cruises appears undimmed despite hantavirus and other onboard outbreaks

Demand for cruises appears undimmed despite hantavirus and other onboard outbreaks

May 17, 2026 • AP News

Summary

Recent outbreaks of hantavirus and norovirus on cruise ships have caused passenger illness and deaths, but the cruise industry expects more people to travel by cruise this year than before. Experts and travelers say these outbreaks have not reduced enthusiasm for cruises, which remain popular worldwide.

Key Facts

  • Three passengers died from hantavirus on the Dutch cruise ship MV Hondius after it stopped in Argentina.
  • A norovirus outbreak occurred on the British cruise ship Ambition, docked in Bordeaux, France.
  • Despite these outbreaks, the Cruise Lines International Association forecasts 38.3 million cruise passengers worldwide in 2026, up 4% from last year's 37.2 million.
  • Major cruise companies like Royal Caribbean, Norwegian, and Carnival did not comment on how outbreaks affect bookings.
  • The company owning MV Hondius, Oceanwide Expeditions, plans to continue normal operations and has a cruise scheduled from Iceland on May 29.
  • Some experienced cruise travelers say they are not changing their plans and believe cruising is as safe as other holidays if health advice is followed.
  • Industry experts say travelers see outbreaks as isolated and not unique to cruises.
Read the Original

Want the full story? Tap a source to open the original article.

AP News
As electric bills rise, some states are focusing on the growing profits of utilities

As electric bills rise, some states are focusing on the growing profits of utilities

May 17, 2026 • AP News

Summary

Some U.S. states are challenging utility companies about rising electricity bills and growing profits. Officials and lawmakers in states like Arizona, Maryland, and Pennsylvania are trying to stop rate hikes and want utilities to change how they pay for big upgrades.

Key Facts

  • States including Arizona, Indiana, Maryland, New Jersey, New York, and Pennsylvania are pushing back against utility companies raising rates.
  • Rising electricity bills are linked partly to the growing power use of AI data centers.
  • Utility profits increased from about $39 billion in 2021 to over $52 billion in 2024.
  • Consumer advocates say utility companies are making higher returns than reasonable, contributing to high bills.
  • Arizona Attorney General Kris Mayes is actively challenging rate increase requests.
  • Utilities have traditionally been seen as safe investments with steady returns.
  • The current energy demand and growth have led to record-high utility profits.
  • Some suggest utilities should seek the cheapest financing like borrowers shopping for low interest rates.
Read the Original

Want the full story? Tap a source to open the original article.

AP News
Hawaii’s worst flooding in 20 years leaves farmers struggling and fewer veggies at the market

Hawaii’s worst flooding in 20 years leaves farmers struggling and fewer veggies at the market

May 17, 2026 • AP News

Summary

Severe flooding hit farms on Oahu’s North Shore, Hawaii, causing widespread crop and equipment damage. Many small farms lost a large portion of their produce, leading to financial struggles and a reduced supply of local vegetables at markets.

Key Facts

  • Hawaii’s North Shore experienced the worst flooding in 20 years due to storms in March.
  • More than 600 farms reported about $40 million in damage, with estimates rising to $50 million affecting nearly 2,000 farms.
  • Flooding destroyed crops such as lemongrass, cucumber, okra, choy sum, bitter melon, tomato, banana, coconut, and mango.
  • Small farms dominate Hawaii’s agriculture, often under a few acres and focused on diverse crops for local markets.
  • These farms generally earn less than $10,000 a year and often cannot afford crop insurance.
  • The Hawaii Farm Bureau urges farmers not to give up, emphasizing the importance of local food supply on the island.
  • Hawaii has increased support for local farms through funding, farm-to-school programs, and loans, especially after supply chain issues during the COVID-19 pandemic.
  • Many farmers are immigrants who faced financial struggles before the flooding.
Read the Original

Want the full story? Tap a source to open the original article.

AP News
Popular Walmart Seasoning Recalled Over Salmonella Risks

Popular Walmart Seasoning Recalled Over Salmonella Risks

May 17, 2026 • Newsweek

Summary

Blackstone Products has recalled certain lots of its Parmesan Ranch seasoning sold at Walmart due to a possible salmonella contamination linked to an ingredient supplier. No illnesses have been reported so far, but consumers are advised to check, discard the affected products, and contact the company for replacements.

Key Facts

  • The recall involves Parmesan Ranch seasoning in 7.3-ounce containers from specific lot numbers with best-by dates in 2027.
  • The seasoning was sold nationwide exclusively at Walmart stores and the company’s website.
  • The recall stems from a dry milk powder supplier, California Dairies, which found possible salmonella contamination in certain lots.
  • Salmonella is a bacteria that causes food poisoning, leading to symptoms like diarrhea, fever, nausea, and abdominal cramps.
  • Most healthy people recover without treatment, but young children, older adults, and people with weak immune systems have higher risks.
  • No confirmed illnesses linked to this product have been reported as of the recall announcement.
  • Consumers should not eat the recalled seasoning and should discard it immediately.
  • Blackstone Products offers replacements and has a customer service line for questions and returns at 1-888-879-4610.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
'Vicious circle of rising costs is fuelling crisis for traders'

'Vicious circle of rising costs is fuelling crisis for traders'

May 17, 2026 • BBC Business

Summary

Rising costs of food ingredients and fertilizers are causing serious problems for traders, farmers, and shoppers. Businesses like cheesemakers are paying more than double for key supplies, leading to higher prices and making it harder to sell products. Farmers warn the government needs to do more help, or they may reduce crop production.

Key Facts

  • Some food ingredient prices, like dried apricots, have nearly tripled in a year.
  • Fertilizer costs are rising and threatening farmers' ability to grow crops.
  • A cheesemaker from Northampton says higher costs force price increases, which hurts sales.
  • Farmers have protested to demand more government support for agriculture.
  • The government says it is working with farmers and groups to support the farming sector.
  • The Bank of England expects food prices could rise by 7% before the end of the year.
  • Consumers report noticing big price hikes on everyday items like salt and meat.
  • Some shoppers are changing buying habits, choosing cheaper foods like chicken instead of red meat.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business
Boomers have the space. Millennials have the kids

Boomers have the space. Millennials have the kids

May 17, 2026 • Axios

Summary

Older homeowners, called baby boomers, own more large family homes than younger families, even though it is younger families who mostly need bigger homes. This difference is making it harder for families with children to find and afford the houses they want. Many boomers keep their homes because they have low mortgage payments and want to stay near family or avoid moving.

Key Facts

  • Baby boomers who no longer have children at home (empty nesters) own about 28% of homes with three or more bedrooms.
  • Millennial parents own 16% of large homes, and Gen Z parents own less than 1%.
  • Cities with the most large homes owned by millennial families include Austin, Columbus, and Minneapolis, each around 19%.
  • Cities with the fewest large homes owned by millennial families include Los Angeles (11%), Miami (13%), and San Jose (13%).
  • Boomers own more than 30% of large homes in Memphis, Cleveland, and Pittsburgh.
  • Many boomers prefer to stay in their homes because they have no mortgage or low mortgage rates.
  • Younger families face problems like high prices, high mortgage rates, and not enough big homes for sale.
  • Between 2014 and 2024, millennials increased their share of large home ownership from about 5% to 16%, partly by buying homes from older generations.
Read the Original

Want the full story? Tap a source to open the original article.

Axios
'We need working-class voices to enrich culture'

'We need working-class voices to enrich culture'

May 17, 2026 • BBC Business

Summary

Kate Pasola, a journalist from Northumberland, has edited a book called Bread Alone that highlights the challenges working-class writers face in the creative industry. The book includes essays about how economic and social barriers limit opportunities for people from lower-income backgrounds to succeed as writers.

Key Facts

  • Kate Pasola experienced difficulties in her writing career due to costs and class barriers.
  • The number of working-class people in creative roles has dropped by half since the 1970s.
  • Only about 10% of writers come from working-class backgrounds, according to research.
  • Pasola’s book Bread Alone contains 33 essays about institutional obstacles for working-class writers.
  • Many working-class people feel their social class has hurt their career chances.
  • New Writing North, a charity, supports writers from all backgrounds and launched a magazine focused on working-class stories.
  • Cost-of-living pressures make it harder for working-class writers to break into the industry.
  • Increasing working-class voices in culture brings diverse stories and makes art richer.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business
Betting on war: Mysterious traders make millions on well-timed bets on Iran

Betting on war: Mysterious traders make millions on well-timed bets on Iran

May 17, 2026 • France24

Summary

Some traders made millions by betting on changes in the oil market linked to possible conflict with Iran. The US Congress is investigating whether these traders had secret information to time their bets successfully.

Key Facts

  • Traders placed large bets on oil prices related to possible war involving Iran.
  • These bets earned the traders millions of dollars.
  • The timing of the trades has raised questions about insider knowledge.
  • US Congress is demanding answers about the trades and market behavior.
  • The investigation involves the oil and gas industry and financial markets.
  • The article links this situation to ongoing political tensions involving the USA and Iran.
  • It remains unclear who the traders are or how they obtained their information.
  • There is no confirmed evidence yet of illegal activity, but the matter is under review.
Read the Original

Want the full story? Tap a source to open the original article.

France24
Fire and ‘sheer volume’: how Britain’s 6m-vape problem is putting recycling under strain

Fire and ‘sheer volume’: how Britain’s 6m-vape problem is putting recycling under strain

May 17, 2026 • Guardian World

Summary

More than 6 million vapes are discarded weekly in the UK, creating challenges for recycling centers. These devices contain lithium-ion batteries that often cause fires, making recycling difficult and costly.

Key Facts

  • Single-use vapes were banned in the UK in June 2025, but millions are still thrown away every week.
  • Recycling staff must carefully dismantle vapes, removing batteries separately to reduce fire risks.
  • Lithium-ion batteries in vapes caused or were suspected in over 80% of fires at a major recycling company’s sites in 2025.
  • The company Suez reported 670 fires in 2025 at its UK sites, with many linked to vaping devices.
  • Fires at recycling centers are expensive, sometimes destroying entire facilities and costing millions.
  • People often incorrectly dispose of vapes with normal recycling, unaware of the fire risk from batteries.
  • The shift from disposable to rechargeable vapes has changed the waste but not reduced the volume.
  • Experts estimate around £1 billion is spent yearly dealing with fires and issues caused by vape waste.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World
Tech founders use AI-generated images to poke fun at Anthony Albanese in protest against tax changes

Tech founders use AI-generated images to poke fun at Anthony Albanese in protest against tax changes

May 17, 2026 • Guardian World

Summary

Tech founders in Australia have used AI-generated images of Prime Minister Anthony Albanese to protest new changes in capital gains tax (CGT). They warn that these tax changes could make it harder to attract employees and encourage startups to move overseas, potentially harming innovation.

Key Facts

  • The Australian government plans to change the capital gains tax discount from 50% to a system called “cost-base indexation” with a minimum 30% tax rate.
  • Startups often give employees equity (shares in the company) instead of higher pay, which may be less valuable with the new tax rules.
  • Tech entrepreneurs worry that higher taxes will make it less attractive to start and grow new businesses in Australia.
  • Some founders posted AI images showing Prime Minister Albanese in their offices as a way to criticize the tax changes.
  • The Prime Minister and Treasurer said they want to support innovation and are still consulting with the tech sector.
  • Shadow Treasurer Tim Wilson warned of “founder flight,” meaning business founders might move overseas to avoid higher taxes.
  • Founders compared Australia’s policies unfavorably to countries like Singapore and the UAE, which offer better support to startups.
  • The changes may reduce incentives for risk-taking and could slow down job creation and economic growth in the startup sector.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World Guardian Tech
India’s Tata and Dutch giant ASML sign semiconductor deal during Modi visit

India’s Tata and Dutch giant ASML sign semiconductor deal during Modi visit

May 17, 2026 • Al Jazeera

Summary

India’s Tata Electronics and Dutch company ASML have made an agreement to build a big semiconductor factory in western India. The factory will use advanced tools from ASML to produce chips for AI, cars, and other uses, with Tata planning to invest $11 billion in the project.

Key Facts

  • Tata Electronics signed a deal with ASML during Prime Minister Modi’s visit to the Netherlands.
  • The semiconductor plant will be built in Dholera, Gujarat, Modi’s home state.
  • ASML makes special machines that help produce advanced microchips used in phones, cars, and more.
  • Tata plans to invest $11 billion in the new factory.
  • The chips made will support artificial intelligence and the automotive industry.
  • ASML wants to build long-term partnerships in India’s growing semiconductor market.
  • Modi met with Dutch leaders to discuss trade, defense, space, and visa arrangements.
  • The visit is part of Modi’s European tour and aims to strengthen economic ties between India and the Netherlands.
Read the Original

Want the full story? Tap a source to open the original article.

Al Jazeera
JLR and General Motors eye £900m contract to build new range of military trucks

JLR and General Motors eye £900m contract to build new range of military trucks

May 17, 2026 • Guardian World

Summary

Jaguar Land Rover and General Motors are competing for a £900 million UK military contract to build thousands of 4x4 trucks for the armed forces. These vehicles will replace older Land Rovers and are expected to be delivered starting in 2030 for use by the army, navy, and air force.

Key Facts

  • Jaguar Land Rover (JLR) and General Motors (GM) want to make new military 4x4 trucks for the UK armed forces.
  • The contract is worth £900 million and could involve thousands of vehicles.
  • The trucks will replace old Land Rovers no longer produced since 2016.
  • The new vehicles will be used for patrol, reconnaissance, and transport duties across the army, navy, and air force.
  • First deliveries are planned around the year 2030.
  • GM is working with British firms BAE Systems and NP Aerospace on its bid, using US-built trucks modified in the UK.
  • JLR has not made military vehicles since it stopped making the classic Land Rover Defender, but plans to explore partnerships with the UK Ministry of Defence.
  • Defence spending in Europe, including the UK, rose sharply last year, making such contracts more attractive for car companies facing other challenges.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World Guardian US
Save articles & personalize your feed — Create a free account