President Donald Trump has banned foreign access to new artificial intelligence (AI) models developed by the U.S. company Anthropic, citing national security concerns. This move has raised worries in Europe about dependence on American tech companies and the risks to government and corporate security.
Key Facts
President Trump ordered Anthropic to cut off foreign access to its latest AI models within 90 minutes.
The decision was made due to national security reasons.
European companies like BNP Paribas have partnerships with Anthropic for AI and security services.
Europe's reliance on U.S. tech companies includes services like Visa, Google, Amazon, and cloud storage.
Silicon Valley tech firms hold significant global influence over money, data, and digital services.
There are concerns about how dependent governments and businesses are on U.S. technology and policies.
The issue was discussed during the G7 summit and at France's VivaTech trade fair.
European leaders are exploring ways to protect their digital sovereignty and security from sudden U.S. restrictions.
Read the Original
Want the full story? Tap a source to open the original
article.
The number of people starting new jobs in the UK has dropped to the lowest level in five years. Job vacancies are falling, and wage growth is slow, showing some caution among employers.
Key Facts
Fewer people are starting new jobs, the lowest number in five years.
Job vacancies continue to decrease, suggesting employers are cautious about hiring.
The UK unemployment rate fell slightly from 5% to 4.9% between March and April.
Regular pay, excluding bonuses, grew by 3.4% in the year to April, unchanged from the previous period.
Wage growth in the private sector is the slowest in over five years.
Inflation is steady, with food price rises slowing down.
The Bank of England is expected to keep interest rates steady at 3.75%.
These figures come before the Bank of England's interest rate decision and reflect a gradually easing job market.
Read the Original
Want the full story? Tap a source to open the original
article.
Tesco’s sales growth in the UK slowed down significantly due to uncertainty caused by the conflict in the Middle East. While online sales increased strongly, overall sales growth dropped, and sales at its wholesale division fell.
Key Facts
Tesco’s UK sales growth fell from 4.2% to 1.8% in the three months ending in May.
Online sales increased by 8.9%, helping to lift group sales by 1% to £16.8 billion.
The conflict in the Middle East caused higher fuel prices and made consumers less confident about spending money.
Tesco expanded its price-match promise against Aldi to over 2,000 Express stores and launched 520 new products.
Sales at Tesco’s wholesale division, Booker, fell by 3.2%, affected by tough conditions on the high street.
Tesco expects to meet its profit target of around £3.25 billion for the financial year despite the sales slowdown.
In the previous year, Tesco’s profits rose by 8.5% to £2.4 billion with sales increasing by 4.3% to £66.6 billion.
Tesco’s shares dropped 2.4% during early trading following the slow sales growth report.
Read the Original
Want the full story? Tap a source to open the original
article.
The UK unemployment rate fell to 4.9% in the three months to April, and wages grew more than expected, especially when bonuses are included. However, businesses are cautious about hiring due to uncertainty caused by the war in the Middle East, leading to fewer job vacancies.
Key Facts
Unemployment dropped from 5% to 4.9% in the latest three-month period.
Average wages excluding bonuses stayed at 3.4% growth, but including bonuses rose from 4.1% to 4.4%.
Public sector wages increased by 4.8%, private sector wages by 3%.
The Bank of England might keep interest rates at 3.75% despite these figures.
Employers are hiring less permanent full-time staff and making more layoffs due to the war in the Middle East.
Job vacancies fell by 19,000 to 707,000, the lowest in over five years.
Falling oil prices linked to hopes for a peace deal could lower costs for businesses.
The UK government says it is working on economic plans to support growth and stability amid global uncertainty.
Read the Original
Want the full story? Tap a source to open the original
article.
Texas has opened a new trade office in London to strengthen business ties and increase trade and tourism between Texas and the UK. The move aims to create more jobs and opportunities for companies from both regions, including exploring dual stock market listings.
Key Facts
Texas opened a dedicated office in London to promote trade, tourism, and economic support.
Trade between Texas and the UK is currently worth about $17 billion a year.
Senator Tan Parker hopes to create opportunities for businesses through dual listings on the London and Texas stock exchanges.
Austin’s mayor says the city is becoming more international and looks to London for business leadership.
Austin is promoting its own stock exchange, called the Texas Stock Exchange or "Y’all Street," to compete with New York.
The London Stock Exchange has recently seen some companies move their listings abroad.
Economist Alexander Harvey says London needs investment in technologies like artificial intelligence to boost growth.
The City of London Corporation supports the new Texas office and sees it as a way to connect firms to new capital.
Read the Original
Want the full story? Tap a source to open the original
article.
Property sales in Dubai have dropped sharply since the Middle East war began in February. Sales in May were much lower than a year ago, with prices falling, especially for luxury homes.
Key Facts
Dubai property sales fell 19% in May compared to April and are now less than half of last year’s level.
In May, property worth about $6.1 billion was sold, 42% less than in April.
An Iranian missile hit a luxury hotel in Dubai in March, increasing uncertainty in the market.
Sellers have reduced luxury home prices by 20% to 25% due to fewer buyers.
Wealthy buyers, especially from Western Europe, have mostly left Dubai and are hesitant to buy now.
Dubai was the busiest city for luxury home sales worldwide in 2025 before the conflict.
The market is undergoing a correction after very high sales numbers in recent years.
Some real estate brokers in Dubai are expected to close due to the slowdown in sales.
Read the Original
Want the full story? Tap a source to open the original
article.
Research shows that Brexit has reduced UK exports to the EU by about 12%. Rejoining the customs union would only fix a small part of this problem, while the biggest losses come from leaving the single market.
Key Facts
UK exports to the EU are 12% lower due to Brexit.
Services exports to the EU are 7% lower, and goods exports are 16% lower than if the UK stayed in the EU.
Most of the export loss (10% out of 12%) is caused by leaving the single market.
Regulatory checks and new certification requirements have a bigger impact than customs barriers.
Sectors most affected include travel, finance and insurance, chemicals, pharmaceuticals, and food.
Rejoining the customs union would reduce some trade rules but would not help services exports much.
Being in the customs union means the UK would have to follow EU tariffs and lose freedom to make separate trade deals.
Fully rejoining the single market would mean accepting free movement of people, budget contributions, and following EU rules without voting rights.
Read the Original
Want the full story? Tap a source to open the original
article.
Markuss Hussle runs a business managing women on the adult content site OnlyFans, where he takes half of their earnings. He also sells training to help others start OnlyFans management businesses, promoting it as an easy way to make money online.
Key Facts
Markuss Hussle (real name Markuss Kohs) is 27 years old and works as an OnlyFans manager.
He takes a 50% cut from the income of women who sell explicit videos on OnlyFans.
Hussle promotes a luxurious lifestyle, showing expensive cars, trips, and watches to attract clients and students.
He offers an $8,000 online training program for people wanting to start their own OnlyFans management companies.
OnlyFans is a UK-based adult content platform with 4.6 million creators and made $7.2 billion in revenue in 2024.
The site was founded in 2016 and mostly features women posting nude or semi-nude videos for paying fans.
OnlyFans has only 42 employees but has grown into a major digital platform for adult content.
Hussle avoids directly explaining what the women are asked to do on camera and said he would not want his own daughter to join OnlyFans.
Read the Original
Want the full story? Tap a source to open the original
article.
Australia’s Prime Minister Anthony Albanese announced that small businesses will get generous exemptions from capital gains tax after criticism of planned tax reforms. Changes include raising the turnover threshold and giving special treatment to startups and certain trusts to reduce their tax burden.
Key Facts
Australia has 2.7 million small businesses that will receive capital gains tax (CGT) exemptions.
The government is moving away from a flat 50% CGT discount to an inflation-linked system, which faced industry criticism.
Entrepreneurs and small firms below $2 million turnover were concerned about higher taxes under the proposed reforms.
The turnover threshold for small business CGT concessions will increase to $10 million.
About 98% of active businesses will qualify for CGT concessions after these amendments.
The government will keep all four existing CGT concessions but will make one broader and more generous.
These changes will cost the budget $475 million but are part of reforms expected to raise $8.1 billion overall.
Testamentary trusts (used to distribute income from deceased estates) will be exempt from a proposed 30% minimum tax on discretionary trusts, with more details to come.
Read the Original
Want the full story? Tap a source to open the original
article.
Zimbabwe is growing as a major producer of lithium, a key mineral used in batteries for electric vehicles and renewable energy. The country is moving from exporting raw lithium minerals to processing higher-value lithium products, mainly through Chinese-backed mining projects and new local investments.
Key Facts
Zimbabwe hosts several large lithium mines, many supported by Chinese companies.
Prospect Lithium Zimbabwe (PLZ) recently exported its first shipment of lithium sulphate, a processed lithium product.
PLZ is fully owned by Chinese company Zhejiang Huayou Cobalt.
Bikita Minerals is investing $400 million to shift from exporting raw lithium to making lithium precursor chemicals by 2027.
The state-owned Mutapa Investment Fund is working with Chinese partners to build a lithium processing plant at Sandawana mine.
Zimbabwe banned exports of unprocessed minerals, boosting mineral export earnings and volumes in early 2026.
Lithium export earnings almost doubled from $84 million in early 2025 to $179 million in early 2026.
The mining sector generated at least $2 billion in 2026, helped by good prices for gold, platinum metals, and lithium.
Read the Original
Want the full story? Tap a source to open the original
article.
An 83-year-old man named Ed Mansell lost a very rare and valuable Star Wars Lego collection, including a set worth up to $10,000, after consigning it to a used Lego store franchise. The collection disappeared amid disputes involving the franchise owner, store changes, lawsuits, police reports, and viral internet campaigns accusing the store and police of wrongdoing.
Key Facts
Ed Mansell’s rare Star Wars Lego collection included a Cloud City set valued at about $10,000.
Mansell’s son consigned the collection to a used Lego store chain called Bricks & Minifigs in Salem, Oregon.
The store sold $52,000 worth of Lego pieces but later changed ownership after ousting the original franchise owner, Chrystal Law.
Mansell stopped receiving payments and then discovered the collection was missing; he reported it stolen to local police.
A popular YouTuber named Reckless Ben supported Mansell by creating videos and stunts that accused the store and police of theft and cover-up.
Reckless Ben was charged by police with stalking and trespassing for his protests against the store owners.
Bricks & Minifigs closed the Oregon store due to safety threats against staff linked to the viral online campaign.
The dispute has led to several lawsuits and ongoing accusations between the parties involved.
Read the Original
Want the full story? Tap a source to open the original
article.
A new report from Harvard University says that the number of new households in the U.S. grew more slowly for the third year in a row in 2025. The report points to high housing costs and not enough homes being available as the main reasons for this slowdown.
Key Facts
Household growth means the number of occupied housing units increasing each year.
The growth of new households dropped for the third straight year in 2025.
High prices for homes make it hard for people to afford housing.
There are not enough homes available to meet demand.
The information comes from Harvard University's State of the Nation's Housing 2026 report.
Chris Herbert is the managing director at the Harvard Joint Center for Housing Studies.
The report was discussed in an interview on CBS News.
Read the Original
Want the full story? Tap a source to open the original
article.
The Bank of England is expected to keep interest rates steady at 3.75% amid concerns about inflation and global events, including conflict in the Middle East. A recent peace deal between the US and Iran has helped ease energy price fears, but UK inflation may still rise due to upcoming increases in energy bills.
Key Facts
The Bank of England’s main interest rate is likely to stay at 3.75% for the fourth meeting in a row.
Interest rates help control inflation, which means how fast prices increase.
UK inflation was 2.8% in the year up to May, lower than some experts expected.
Food price increases have slowed down, but transport costs rose the fastest.
President Donald Trump announced a peace deal with Iran, which may lead to more stable oil supplies.
Oil prices have dropped because the Strait of Hormuz, a key shipping route, is expected to reopen.
UK energy bills will rise in July due to a price cap increase by 13%, which could push inflation higher.
Mortgage rates in the UK have risen since March, with two- and five-year fixed deals now around 5.6%.
Read the Original
Want the full story? Tap a source to open the original
article.
The Federal Reserve kept interest rates unchanged in its first meeting with Kevin Warsh as chair. All members agreed to hold rates steady, but some officials now expect a possible rate increase before the year ends.
Key Facts
Kevin Warsh led his first meeting as chair of the Federal Reserve.
The Fed decided not to change interest rates for the fourth time in a row.
All 12 members of the Federal Open Market Committee agreed to keep rates steady.
Some Fed officials released new forecasts suggesting rates might rise later this year.
Amna Nawaz spoke with David Wessel about how the Fed might operate under Warsh’s leadership.
Read the Original
Want the full story? Tap a source to open the original
article.
The Federal Reserve decided to keep interest rates the same in its first meeting with Kevin Warsh involved. This choice was expected and the decision was made by a unanimous vote.
Key Facts
The Federal Reserve made a decision on interest rates.
Interest rates were kept steady, meaning they were not increased or decreased.
This was the first interest rate decision with Kevin Warsh participating.
The vote to keep rates steady was unanimous, meaning everyone agreed.
The decision matched what experts and markets expected.
Read the Original
Want the full story? Tap a source to open the original
article.
Oil prices are going down as the conflict with Iran appears to be nearing an end. Experts say this could lead to lower gas prices for consumers in the near future.
Key Facts
Oil prices have been high due to the war involving Iran.
The conflict might end soon, which is causing oil prices to drop.
Lower oil prices usually lead to cheaper gas at the pump.
Arjun Murti, an energy expert, talked about when gas prices might go back to normal.
The reduction in gas prices depends on global events and oil market changes.
People are watching the situation closely to see how soon fuel costs will decrease.
Read the Original
Want the full story? Tap a source to open the original
article.
The Federal Reserve decided to keep interest rates the same in its latest meeting. This was the first decision made with Kevin Warsh as the new chair of the Federal Reserve.
Key Facts
The Federal Reserve voted to keep interest rates unchanged.
The vote was unanimous, meaning all members agreed.
This is the first interest rate decision under Chair Kevin Warsh.
The decision was announced on a Wednesday.
The Federal Reserve controls interest rates to manage the economy.
CBS News correspondent Kelly O'Grady reported on this event.
Read the Original
Want the full story? Tap a source to open the original
article.
VIVATECH 2026 is a major European event focused on startups and new technology. The event highlights how artificial intelligence (AI) is changing business models and daily life. Amazon Web Services introduced a new AI shopping helper and discussed what jobs AI can do and efforts to increase women leaders in tech.
Key Facts
VIVATECH is Europe’s biggest event for startups and innovation.
A key topic is how AI will influence business and everyday life.
Amazon Web Services revealed a new AI shopping assistant tool.
AI can perform some jobs but not all, and people are exploring its limits.
There is a focus on increasing the number of women leaders in Silicon Valley tech companies.
The event featured interviews with important tech leaders like Amazon’s Julia White.
AI is driving new business models and changes in freelance hiring.
The article also mentions related business and technology news but focuses mainly on AI’s role at VIVATECH.
Read the Original
Want the full story? Tap a source to open the original
article.
The Federal Reserve decided not to change its main interest rate during its recent meeting. This was the first meeting with Kevin Warsh serving as the new chair of the Federal Reserve. Following the announcement, the Dow Jones stock market index dropped.
Key Facts
The Federal Reserve kept the benchmark interest rate steady.
This was the first meeting with Kevin Warsh as chair of the Federal Reserve.
The decision was announced on a Wednesday.
The Dow Jones stock market index fell after the announcement.
The report was from the New York Stock Exchange.
The Federal Reserve uses interest rates to help control the economy by influencing borrowing costs.
No rate increase or decrease was made at this meeting.
Read the Original
Want the full story? Tap a source to open the original
article.
California state regulators accused AT&T of lying to the Federal Communications Commission (FCC) about shutting down its old copper phone network without giving a proper replacement. The state says AT&T wants to replace wired phone lines with wireless service, but wireless service does not fully cover indoor areas or meet quality and safety needs.
Key Facts
AT&T wants to stop providing phone service over its old copper network to about 199,000 customers in California.
California’s Public Utilities Commission disagrees, saying AT&T is allowed to upgrade copper lines to fiber optics but can't just switch to wireless services.
AT&T claims state rules force it to keep the copper lines, but California denies this is true.
AT&T tried to get the FCC to override California’s rules to allow the shutdown of copper lines.
California says wireless service does not provide reliable indoor voice coverage needed to replace wired phone service.
The FCC’s broadband and LTE coverage maps show outdoor coverage, not indoor or reliable voice coverage.
Lack of guaranteed service quality, price concerns, and 911 emergency service access are issues with wireless replacement.
California’s 2008 policy encourages fiber upgrades to improve service rather than delaying them with restrictions on copper line retirement.
Read the Original
Want the full story? Tap a source to open the original
article.
