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Business news, market updates, and economic developments

Dozens of toys recalled in the UK after asbestos found in play sand

Dozens of toys recalled in the UK after asbestos found in play sand

Summary

More than 30 children’s toys sold in the UK have been recalled because they contained asbestos in the play sand. The asbestos was found in products from several retailers, leading to safety concerns and calls for better testing and regulation.

Key Facts

  • Over 30 toys in the UK were recalled due to asbestos contamination in play sand.
  • Products affected include craft kits, candle-making kits, and stretchy rubber toys sold by stores like Hobbycraft, Tesco, Primark, Matalan, and M&S.
  • Asbestos is banned in the UK as it can cause cancer when inhaled.
  • The contaminated sand mainly came from mines in China where asbestos occurs naturally.
  • Initial safety tests missed asbestos, but more reliable labs later found contamination.
  • The UK government says companies must ensure product safety and report hazards, especially after Brexit reduced some government powers.
  • Consumer groups and campaigners say the UK’s safety checks are failing and want more government action.
  • Hobbycraft issued recalls and advised customers how to safely dispose of affected products after asbestos was discovered.
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Average rent up to nearly £1,000 in Plymouth

Average rent up to nearly £1,000 in Plymouth

Summary

Rents in Plymouth have risen sharply, from around £740 in 2021 to nearly £1,000 in 2026, causing difficulties for many people to afford housing. There are plans to build 10,000 new homes in the city centre, but concerns remain about the availability of genuinely affordable housing.

Key Facts

  • Average private rent in Plymouth increased by more than 30% in five years, reaching £975 in March 2026.
  • More than 7,000 people are on the waiting list for social housing in the Plymouth area.
  • The rising rent and cost-of-living crisis are making it harder for people on low incomes to find housing.
  • Plymouth City Council and the government agency Homes England plan to build over 10,000 new homes in the city centre.
  • Plans include creating taller buildings to increase housing density in the city centre.
  • Affordable housing is usually negotiated during development but often remains close to market prices, limiting access for low-income renters.
  • A charity leader highlighted the shortage of truly affordable housing and the high competition for available rentals.
  • Some landlords report that changes in rental laws have made it less appealing to rent out properties, reducing the private rental supply.
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'I don't want the children to see how worried we are': UK family finances hit by Iran war

'I don't want the children to see how worried we are': UK family finances hit by Iran war

Summary

The war involving Iran has caused fuel and energy prices to rise in the UK, making it harder for families to afford everyday expenses. A family in Lancashire shared how higher diesel costs have increased their travel expenses, especially for medical visits, and they expect future energy bills to go up as well.

Key Facts

  • Fuel prices in the UK have increased sharply since the Iran war began on February 28.
  • Diesel prices rose by 35% and petrol by 19% in nearly two months.
  • Filling a family van with diesel now costs about £27 more than before.
  • Increased travel costs are hitting families who need to make long trips for medical care.
  • UK household energy bills are protected by a price cap but it is expected to rise by about 12% around July.
  • The Strait of Hormuz, a key route for global oil transport, is mostly closed due to the conflict.
  • The closure has reduced oil and gas supply, pushing up international energy prices.
  • Rising fuel and energy prices are expected to lead to higher food costs, putting more pressure on household budgets.
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From Australia to Vietnam, the Iran war is fuelling demand for EVs

From Australia to Vietnam, the Iran war is fuelling demand for EVs

Summary

The recent conflict involving the United States and Israel against Iran has caused fuel prices to rise worldwide. This has led to increased demand for electric vehicles (EVs) in many countries, pushing up prices and sales of EVs, especially in markets like the US, China, Vietnam, Japan, and Australia.

Key Facts

  • Since the US and Israel’s war on Iran started, demand for used electric vehicles has increased, with prices rising by 10-20% in some cases.
  • China saw an 82.6% increase in EV sales in March 2025 compared to the previous month.
  • US EV sales reached over 82,000 units last month, up 20% from February 2025 but still down compared to last year.
  • Vietnam’s local EV brand Vinfast reported a 127% increase in sales year-on-year for March.
  • Japan’s EV sales nearly tripled year-on-year last month, while South Korea’s domestic EV purchases surged by 172%.
  • European countries like France, Norway, Sweden, and Denmark also saw large increases in Tesla car registrations.
  • In Australia, electric vehicles made up 14.6% of total vehicle sales in March, almost double the share from the previous year.
  • Higher fuel prices have resulted in more people visiting EV showrooms and waiting to buy electric cars, causing stock shortages.
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McDonald’s to open on Melbourne street once dubbed ‘world’s coolest’ after winning legal challenge

McDonald’s to open on Melbourne street once dubbed ‘world’s coolest’ after winning legal challenge

Summary

McDonald’s won a legal case allowing it to open a 24/7 takeaway restaurant on High Street in Northcote, Melbourne. The local council had tried to block the plan, but a tribunal ruled that McDonald’s can use the site, which already had permission to be a cafe or restaurant.

Key Facts

  • McDonald’s wants to open a 24/7 takeaway store at 323 High Street, Northcote.
  • Darebin council voted 6-3 to reject McDonald’s application in November 2023.
  • Over 11,000 people signed a petition opposing McDonald’s, saying it would harm the street’s character.
  • Victoria’s Civil and Administrative Tribunal (VCAT) ruled the permission for a cafe or restaurant applies no matter the operator.
  • The site is in a commercial zone, so a planning permit isn’t needed for retail or restaurant use.
  • The site has been vacant for years and suffered vandalism and trespassing.
  • The tribunal said a McDonald’s would improve the area’s safety and activity.
  • The new store is expected to create about 200 jobs in construction and operation.
  • Time Out magazine named High Street the “world’s coolest” street in 2024.
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Michael moonwalks to $217m opening weekend, shattering box office records for a biopic

Michael moonwalks to $217m opening weekend, shattering box office records for a biopic

Summary

The Michael Jackson biopic "Michael" opened with a $217 million global box office, setting a new record for the biggest opening weekend ever for a biopic. Despite mixed reviews and production problems, the film performed very well with audiences, especially in North America.

Key Facts

  • "Michael" made $97 million at the North American box office in its first weekend.
  • The total worldwide opening was $217 million, beating previous biopic records.
  • The movie was co-produced by the Jackson estate and stars Jackson’s nephew, Jaafar Jackson.
  • Critics gave the film a 38% score on Rotten Tomatoes, but audience approval was 97%.
  • Production faced issues after filming, including cutting scenes about abuse allegations due to legal restrictions.
  • The film’s total production cost was close to $200 million.
  • Lionsgate sold international distribution rights to Universal to help cover costs.
  • A sequel is already being planned, with director Antoine Fuqua interested in directing it.
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Oil prices rise as US-Iran peace talks stall

Oil prices rise as US-Iran peace talks stall

Summary

Oil prices went up on Monday after talks between the US and Iran did not make progress. The rise happened because a planned peace negotiation team from the US was canceled, and concerns grew about safety in the key Strait of Hormuz for shipping oil.

Key Facts

  • Brent oil price increased by 2.2% to $107.70 per barrel.
  • US crude oil price rose by 2.1% to $96.40 per barrel.
  • President Donald Trump said the US canceled plans to send negotiators to Pakistan for talks with Iran.
  • The Strait of Hormuz, a critical route for global oil and gas, was threatened by Iran, causing supply concerns.
  • Iran’s Foreign Minister said talks with Oman focus on safe transit through the strait.
  • About 20% of the world’s oil and liquefied natural gas normally passes through the Strait of Hormuz.
  • The Iran war and related military actions have pressured global energy supplies.
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Jason Kelce Has Big Career Move Planned After Failed ESPN Late Show

Jason Kelce Has Big Career Move Planned After Failed ESPN Late Show

Summary

Jason Kelce retired from the Philadelphia Eagles in 2023 and works as a football analyst on ESPN. After a short-lived ESPN late-night show, he plans to launch a new YouTube show with Amazon’s Creator Services.

Key Facts

  • Jason Kelce retired from playing football in 2023.
  • He appears regularly on ESPN’s “Monday Night Countdown” and other shows.
  • Kelce hosts a weekly podcast called “New Heights” with his brother Travis.
  • He signed a three-year, $24 million contract with ESPN.
  • Kelce’s ESPN late-night show in 2025 ran only five episodes and was not renewed.
  • He is partnering with Amazon Creator Services to create a new YouTube show.
  • The new YouTube show's launch date was delayed.
  • Kelce and his brother will host a live podcast episode on June 15 in Los Angeles during the World Cup.
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Children’s shoe retailers say closure of specialist shops is harming foot health

Children’s shoe retailers say closure of specialist shops is harming foot health

Summary

Footwear specialists warn that the closure of many children’s shoe shops in Great Britain is making it harder for parents to get proper shoe fittings, which may harm children’s foot health. A group called Footwear Hub has started a campaign to encourage parents to give children’s feet the same care as their eyes and teeth, highlighting problems caused by ill-fitting shoes.

Key Facts

  • Over 1,000 shoe shops have closed in Great Britain since 2020.
  • Many parents now buy children’s shoes online or travel long distances (up to 50 miles) for fitting services.
  • Footwear Hub is a not-for-profit group made up of 40 specialist shoe shops.
  • Bunions (painful bony lumps on feet) and other foot problems are increasing among children.
  • Ill-fitting shoes can cause foot, ankle, knee, and back issues later in life.
  • Children's feet grow until their mid-teens, and poor shoe fit can affect their walking and stability.
  • The campaign "fit well, grow well" offers free advice and aims to raise awareness of children’s foot health.
  • Shoe fitters report many children wear shoes that are too small or narrow, contributing to foot problems.
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‘Upward pressure’ on oil prices amid Iran war ‘likely to continue’: Chevron CEO

‘Upward pressure’ on oil prices amid Iran war ‘likely to continue’: Chevron CEO

Summary

Chevron's CEO Mike Wirth said oil prices are likely to keep rising due to the ongoing conflict in Iran. The war has reduced oil supply, which pushes prices higher.

Key Facts

  • Chevron CEO Mike Wirth spoke about oil prices on a Sunday interview.
  • He said there is "upward pressure" on oil prices because of the U.S. conflict in Iran.
  • The conflict is now in its second full month.
  • The war has caused less oil to be available in the market.
  • Reduced supply tends to increase oil prices.
  • This trend of rising prices is expected to continue while the conflict lasts.
  • Chevron is a major company involved in oil production and sales.
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The Chinese sports brand taking on Nike and Adidas

The Chinese sports brand taking on Nike and Adidas

Summary

Anta is a Chinese sportswear company that started in 1991 and grew from a small shoe maker to a global brand. It now owns several well-known sports brands, opened its first U.S. store in Beverly Hills, and aims to compete with major global companies like Nike and Adidas.

Key Facts

  • Anta was founded by Ding Shizhong, who started by selling shoes made in a relative's factory.
  • The company owns international brands such as Arc'teryx and Salomon and owns a stake in Puma.
  • Anta has over 10,000 stores in China and sponsors athletes like Olympic skier Eileen Gu.
  • The company opened its first store in the United States in Beverly Hills in February.
  • Anta’s rise reflects China's role as a major global manufacturing hub, especially in footwear.
  • The city of Jinjiang, where Anta began, became known as the "shoe capital" of the world due to specialized factories and suppliers.
  • Manufacturing clusters in China helped companies like Anta improve quality, speed, and consistency of production.
  • Anta’s goal is to become a global brand rather than just a Chinese version of Nike or Adidas.
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Chevron CEO: Aviation industry issues will ‘probably get worse’ amid Iran war

Chevron CEO: Aviation industry issues will ‘probably get worse’ amid Iran war

Summary

Chevron's CEO, Mike Wirth, said that the aviation industry is likely to face more jet fuel shortages. These problems come from Iran limiting shipping through a key water route called the Strait of Hormuz, which affects fuel supplies.

Key Facts

  • Mike Wirth is the CEO of Chevron, a major oil company.
  • He spoke about jet fuel shortages affecting the aviation industry.
  • The shortages are linked to limitations Iran has placed on shipping through the Strait of Hormuz.
  • The Strait of Hormuz is an important waterway used to transport fuel.
  • Before the conflict began, jet fuel supplies were already low in some regions due to seasonal changes.
  • The issues with fuel supply may get worse as the conflict continues.
  • Middle Eastern oil refineries are key players in producing jet fuel.
  • These challenges have a direct impact on airlines and air travel worldwide.
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Australia news live: Wong heads to Japan, China and South Korea to secure fuel supply; new ADF armoured vehicles ordered

Australia news live: Wong heads to Japan, China and South Korea to secure fuel supply; new ADF armoured vehicles ordered

Summary

Australia’s Foreign Minister Penny Wong will visit Japan, China, and South Korea to secure fuel supplies amid disruptions caused by the Middle East conflict. The Australian government also plans to spend hundreds of millions of dollars on new armored vehicles and upgrades for its defense forces.

Key Facts

  • Penny Wong will travel to Japan, China, and South Korea to discuss fuel and energy supply security.
  • The visits aim to ensure Australia remains a reliable energy partner in the region.
  • Global energy markets are being disrupted by a conflict in the Middle East and the closure of the strait of Hormuz.
  • Australia currently has more fuel than before the Iran conflict after arranging extra shipments.
  • The government will spend $750 million over seven years to buy 268 new armored vehicles made in regional Victoria.
  • An additional $450 million will go toward upgrading protected mobility vehicles for defense.
  • These efforts are part of Australia’s response to ongoing global fuel supply challenges and national defense needs.
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Michael Jackson Biopic Smashes Box Office Record With $97M Debut

Michael Jackson Biopic Smashes Box Office Record With $97M Debut

Summary

The Michael Jackson biopic, titled *Michael*, earned $97 million in its first weekend in the U.S. and Canada, setting a record for music biopics. Despite mixed reviews and a costly, complicated production, the film made over $217 million worldwide, showing strong public interest in Michael Jackson’s story.

Key Facts

  • *Michael* opened with $97 million in North America, the highest ever for a music biopic.
  • The film made $120.4 million internationally, totaling $217.4 million globally.
  • Lionsgate initially predicted around $70 million but the film exceeded expectations.
  • Production faced major challenges, including $50 million spent on new scenes after cutting the third act due to legal issues.
  • The film covers Michael Jackson’s life only up to 1988, avoiding later accusations.
  • Critics gave the movie a low score (38% on Rotten Tomatoes), but audiences rated it highly (CinemaScore "A-").
  • Some family members disapproved of the film, while Jackson’s nephew played Michael.
  • Lionsgate sold international rights to Universal to help cover the nearly $200 million production cost.
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Royal Mail investigating claims that postal worker ‘binned Reform UK election leaflets’

Royal Mail investigating claims that postal worker ‘binned Reform UK election leaflets’

Summary

Royal Mail is investigating a claim that a postal worker threw away Reform UK election leaflets instead of delivering them before local elections. Reform UK has asked Royal Mail to conduct a quick investigation and explain what happened, while Royal Mail says it takes its role in elections seriously and does not allow mail to be deliberately undelivered.

Key Facts

  • A message was posted on a private Facebook group for Royal Mail staff saying a worker dumped Reform UK leaflets in a bin.
  • The incident happened before local elections in some unknown part of the UK.
  • Reform UK sent a formal complaint letter to Royal Mail’s chief executive demanding an internal investigation within three days.
  • Royal Mail stressed their commitment to impartial delivery and said they are actively investigating the claim.
  • Reform UK leader Nigel Farage said an investigation is correct and said destroying election materials harms democracy.
  • Reform UK wants confirmation that any employees involved will face disciplinary action, including possible firing.
  • The leaflets were meant for door-to-door delivery to inform voters about Reform UK.
  • The Facebook group where the message appeared includes Royal Mail staff and union members.
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Greggs rolls back self-service cabinets in shoplifting hotspots

Greggs rolls back self-service cabinets in shoplifting hotspots

Summary

Greggs is removing self-service display cabinets in some stores where shoplifting is common. Instead, staff will give products to customers from a secure counter to reduce theft.

Key Facts

  • Greggs is changing some stores by removing self-service cabinets that were easy to steal from.
  • The stores affected include locations in Croydon, Peckham, Whitechapel, Upton Park, Birmingham, and Wilford.
  • Staff will now serve customers behind theft-proof counters instead of letting them help themselves.
  • Greggs is also testing new software that shares information directly with police.
  • Shoplifting in England and Wales passed 500,000 offenses last year, causing problems for many retailers.
  • Other companies like Pret a Manger and Costa have hired security guards to prevent theft.
  • The British Retail Consortium says criminal gangs are systematically targeting shops and shoplifting costs the industry about £400 million yearly.
  • Violence against shop workers is increasing, with many attacks involving weapons.
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Full interview: Chevron CEO Mike Wirth

Full interview: Chevron CEO Mike Wirth

Summary

Chevron CEO Mike Wirth gave a full interview on the show "Face the Nation" with Margaret Brennan on April 26, 2026. The interview focused on topics related to Chevron and the oil industry.

Key Facts

  • Mike Wirth is the CEO of Chevron, a major oil company.
  • The interview was conducted by Margaret Brennan on "Face the Nation."
  • A portion of the interview aired on April 26, 2026.
  • The full interview is available to watch on the CBS News app and website.
  • The discussion likely included issues about Chevron’s business and the energy industry.
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War, the Gulf & Rethinking Money in Sport

War, the Gulf & Rethinking Money in Sport

Summary

Countries in the Gulf region have invested billions of dollars in global sports, helping to grow the industry quickly. Now, rising political tensions may change how this investment affects the sports business.

Key Facts

  • Gulf countries have provided large amounts of money to support and grow sports worldwide.
  • This financial support helped sports expand rapidly in recent years.
  • Increasing political problems in the Gulf region are causing uncertainty.
  • These geopolitical tensions may slow down or change sports investments.
  • The future of sports business linked to the Gulf depends on these political developments.
  • The article was reported by Samantha Johnson for Al Jazeera.
  • The focus is on how geopolitics can impact sports economics.
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Chocolate Recalled in 40 States for ‘Life-Threatening’ Allergens

Chocolate Recalled in 40 States for ‘Life-Threatening’ Allergens

Summary

French Broad Chocolates has recalled certain boxes of its Bette’s Bake Sale Bonbon Collections after finding undeclared walnuts inside. This poses a risk of serious allergic reactions for people with tree nut allergies who bought the chocolates in 40 states and Washington, D.C.

Key Facts

  • The recall involves six, 12, and 24-piece boxes of Bette’s Bake Sale Bonbon Collections.
  • A labeling mistake swapped the Walnut Fudge bonbon’s name with the Peach Cobbler bonbon on the tasting notes inside the boxes.
  • The chocolates were sold between April 14 and April 20, 2026.
  • Products were sold in French Broad Chocolates stores in Asheville, North Carolina, and shipped online across 40 states and Washington, D.C.
  • Consumers with tree nut allergies are urged not to eat the recalled chocolates due to risk of severe reactions.
  • Customers can return the affected products for a full refund or throw them away.
  • Tree nuts like walnuts are one of the nine major food allergens that must be clearly listed on packaging by law.
  • No illness reports have been made so far linked to the recalled chocolates.
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Cheap spirits, pricey condoms: how war in the Middle East is shifting the way Australians spend

Cheap spirits, pricey condoms: how war in the Middle East is shifting the way Australians spend

Summary

The war in the Middle East has caused petrol prices in Australia to rise, leading many people to change how they spend money. Australians are buying cheaper alcohol, skipping healthcare, delaying furniture purchases, and cutting back on dining out as living costs increase and consumer confidence falls.

Key Facts

  • Australians are buying cheaper alcoholic drinks and lower alcohol content options to save money.
  • Businesses face challenges because they cannot raise prices while their costs, such as freight and fuel, increase.
  • Some people are avoiding or delaying healthcare treatments, like cochlear implants, due to financial worries.
  • Consumer confidence is low, with concerns about jobs reaching levels not seen since the COVID-19 pandemic.
  • Sales of furniture and home appliances have dropped sharply amid economic uncertainty.
  • Shares in Australian retailers like Nick Scali, Harvey Norman, and Adairs have fallen by 20-30% recently.
  • Despite worries, some shopping centers reported strong visits, showing Australians still enjoy going out to shop.
  • Rising oil prices and the prolonged Middle East conflict continue to impact the Australian and global economy.
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