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Richard Desmond, a media businessman, lost his legal claim seeking up to £1.3 billion in damages after the Gambling Commission decided not to give him the national lottery license. The court found no major mistakes in the lottery awarding process, confirming that the decision was lawful.
Key Facts
Richard Desmond wanted the national lottery licence for 10 years but was not awarded it.
He claimed the Gambling Commission made serious errors and sought damages up to £1.3 billion.
Desmond’s companies started legal action against the commission in 2022.
The lottery license, worth £6.5 billion, was given to Allwyn, owned by Czech billionaire Karel Komárek.
The court ruled that no errors were made and the competition result was fair.
Desmond rejected a £10 million settlement offer linked to the case.
He also failed in a previous legal claim about Allwyn receiving a £70 million marketing subsidy.
The damages he sought would likely have come from lottery funds meant for good causes.
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Peter Magyar’s centre-right Tisza party won a large victory in Hungary, defeating longtime Prime Minister Viktor Orban. Magyar plans to improve Hungary’s relationship with the European Union, which could lead to more EU funding and economic support, but budget challenges and currency adoption remain major issues.
Key Facts
Hungary’s centre-right Tisza party led by Peter Magyar won decisively over Viktor Orban’s nationalist party.
Magyar aims to repair Hungary’s strained relationship with the European Union.
Better EU ties could unlock funding for both Hungary and Ukraine.
Many voters were unhappy with the economy under Orban’s 16 years in power.
Magyar’s party has a long list of promises, including increased government spending.
Hungary’s budget deficit is expected to be about 5-5.5% this year.
The war in Iran is causing extra financial strain on the budget.
Magyar wants Hungary to join the eurozone, using the shared European currency.
Hungary currently does not meet the economic requirements (Maastricht criteria) to join the eurozone.
Achieving eurozone membership will take significant economic reforms and effort.
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The International Monetary Fund (IMF) lowered its global growth forecast for 2026 due to the war between the United States and Israel against Iran and related disruptions in the Strait of Hormuz. Despite the negative economic effects, some industries like Wall Street banks, weapons companies, AI, and green energy are benefiting from the conflict and market volatility.
Key Facts
The IMF reduced the world growth forecast for 2026 from 3.3% to 3.1% because of the US-Israel war on Iran.
The Strait of Hormuz closure and US naval blockade have stranded important exports such as oil, gas, chemicals, and fertilizer.
Low-income and developing countries are expected to be hit hardest by rising commodity and energy prices.
Major investment banks like Morgan Stanley, Goldman Sachs, and JPMorgan Chase have reported big profit increases due to increased trading volume.
Wall Street traders are reacting to unpredictable decisions by President Donald Trump, leading to more frequent trades and higher bank profits.
Crypto prediction platforms like Polymarket have seen huge gains by allowing bets on events including the Iran war.
Polymarket changed its fees in March, earning significantly more from users betting on future conflicts and other outcomes.
The conflict has created a mixed economic picture, with some sectors losing and others experiencing growth.
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British banks will soon start using a new AI tool called Mythos, made by the company Anthropic, which was previously considered too risky for public use. Finance leaders and regulators are warning that this AI can find and exploit weaknesses in computer systems, posing risks to financial security and national safety.
Key Facts
Anthropic will give UK financial institutions access to Mythos within the next week.
Mythos is an advanced AI model capable of discovering software weaknesses better than most humans.
Anthropic has so far shared Mythos mainly with big US companies like Amazon, Apple, and Microsoft.
Finance officials, including those at the IMF and World Bank meetings, are concerned about the risks Mythos poses to the global financial system.
The AI’s ability to exploit IT system flaws could have serious economic, safety, and security consequences.
Bank of England Governor Andrew Bailey said regulators must decide the right timing to introduce rules for AI technology.
European Central Bank President Christine Lagarde noted the lack of a current framework to manage these AI risks and stressed the need to develop one.
The Canadian finance minister highlighted the challenge of dealing with an unknown threat like this AI tool, calling for safeguards to maintain financial system resilience.
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Chinese electric car maker Seres has received a patent for a voice-controlled toilet that slides out from under a passenger seat. The toilet is designed for use during long trips, camping, or while staying inside the car, and includes features to manage waste and odors.
Key Facts
The toilet slides out from beneath a passenger seat using voice commands or a push button.
It has a fan and exhaust pipe to remove odors from inside the car.
Waste is collected in a tank that must be emptied manually.
A heating element evaporates urine and dries other waste materials.
When not in use, the toilet is hidden under the seat to save space.
Seres is a Chinese electric vehicle company known for sport utility vehicles (SUVs).
In-car toilets are uncommon but exist in some long-distance buses and vintage luxury cars.
China’s electric vehicle market is crowded and competitive, with many companies facing financial challenges.
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Asian stock markets dropped on Friday, even though U.S. stocks reached new record highs. Investors are watching for progress in U.S.-Iran talks and the possibility of extending a ceasefire in the Iran war, which affected oil prices that fell after earlier rises.
Key Facts
Asian stock markets, including Tokyo's Nikkei 225 and Hong Kong's Hang Seng, fell by around 1%.
The Iran war ceasefire expires soon, and talks are ongoing between the U.S. and Iran to extend it.
President Donald Trump indicated he might support extending the ceasefire.
Oil prices dropped, with Brent crude down 1.1% to $98.31 per barrel after a previous sharp rise.
The Strait of Hormuz remains mostly closed, and the U.S. has a naval blockade on Iranian ports, affecting global energy supplies.
The International Energy Agency warned Europe has about six weeks of jet fuel left, risking flight cancellations.
On Wall Street, the S&P 500 and Nasdaq reached record highs, helped by strong corporate earnings from companies like PepsiCo and J.B. Hunt.
Gold and silver prices rose slightly, and the U.S. dollar strengthened against the Japanese yen.
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Justin Bieber made history at Coachella by setting new records for earnings, ticket sales, and live streaming during his headline performance. His clothing and lifestyle brand SKYLRK also broke sales records by earning over $5 million at the festival, surpassing previous records.
Key Facts
Justin Bieber headlined Coachella on April 10 and again on April 18.
Bieber earned a reported $10 million for his Coachella headlining, the highest ever for the festival.
Ticket demand and ticket prices for Bieber’s show were the highest in Coachella history.
His 90-minute performance was the most viewed live in Coachella’s history.
Bieber’s brand SKYLRK sold $5.04 million worth of merchandise during the festival weekend, beating the previous record of $1.7 million.
SKYLRK’s "Oasis" space and shop covered 10,000 square feet at Coachella.
Bieber co-founded SKYLRK with Neima Khaila and launched it in July last year.
Bieber’s music streams increased significantly during and after his Coachella performance.
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Australia is facing a fuel crisis with rising prices and some fuel station outages since the conflict between the US and Israel and Iran began. The government has released fuel reserves, cut fuel taxes, and launched a plan to maintain fuel security while tracking data on fuel deliveries, prices, and shortages across the country.
Key Facts
The Australian government has released fuel reserves and reduced fuel excise taxes to help during the fuel crisis.
Fuel prices for petrol and diesel have risen since late February, linked to the US and Israel's conflict with Iran.
Many independent businesses and local governments are involved, making it harder to understand the full situation with fuel availability.
Fuel outages have spiked in New South Wales and Victoria around late March, with stations running out and then restocking fuel.
At least six fuel shipments to Australia have been canceled or delayed, and more delays are expected.
Data shows fewer oil tankers visiting Australian ports in February and March compared to past years.
The number of tankers passing through the strait of Hormuz dropped sharply early in March, affecting global oil supply.
Despite the crisis, Australian fuel reserves have increased since before the conflict, and the government lowered mandatory fuel stockpiles for companies.
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NBC has renewed the TV show "Law & Order: SVU" for its 28th season due to its ongoing popularity. The show continues to feature Mariska Hargitay as Olivia Benson and Ice-T, with the next season set to air starting April 23.
Key Facts
"Law & Order: SVU" was renewed by NBC for a 28th season.
"Law & Order: Organized Crime" was canceled after five seasons.
Mariska Hargitay will continue playing Olivia Benson, and Ice-T will return as well.
The show is part of the long-running "Law & Order" franchise.
"Law & Order: SVU" has won six Primetime Emmy Awards.
The show is known for its strong fan base and cultural impact.
It originally premiered in 1999 and remains popular after many years.
The new season will begin airing on April 23.
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Prime Minister Anthony Albanese said that a big fire at the Viva Energy refinery in Geelong caused petrol production to drop by 40%. However, he confirmed the fire will not lead to fuel restrictions, and most diesel and aviation fuel production continues. The refinery normally processes 120,000 barrels of oil daily, and the company plans to cover lost fuel by increasing imports.
Key Facts
A fire burned for 13 hours at the Viva Energy refinery in Geelong, Victoria.
Petrol production dropped to about 60% of normal levels after the fire.
Diesel and aviation fuel production are still running at around 80% capacity.
The refinery processes about 120,000 barrels of oil each day.
Viva Energy said the fire area affects the part that combines LPG into gasoline-type molecules.
The cause of the fire is under investigation, but no signs point to maintenance problems or increased production.
The government says there will be no fuel restrictions or move to higher alert stages in the national fuel plan.
Fuel supply losses from the fire will be offset by imports to avoid shortages.
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A major fire at Australia's Viva Corio oil refinery has reduced fuel production but will not cause fuel rationing, Prime Minister Anthony Albanese said. The refinery makes a significant portion of the state's and country’s fuel, and the government is working to manage fuel supply and prices.
Key Facts
A fire at Viva's Corio refinery near Geelong started just before midnight Wednesday and burned for 13 hours.
The refinery produces about 50% of the state's fuel and 10% of Australia's fuel.
The fire was caused by equipment failure.
Currently, 80% of diesel and aviation fuel production continues, and 60% of petrol production is ongoing.
Australia is at stage two of a four-level fuel security plan; stage three involves possible fuel rationing, which is not planned now.
Prime Minister Albanese returned early from a trip to visit the refinery and secure more oil supplies.
Australia relies heavily on imported refined fuels and recently secured an extra 100 million liters of diesel from Brunei and South Korea.
The prime minister expressed a desire for Australia to have more of its own oil refineries.
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Finance ministers and top bankers are worried about a new artificial intelligence (AI) model called Claude Mythos, developed by Anthropic. This AI can find security weaknesses in major computer systems and web browsers, potentially threatening financial systems' safety.
Key Facts
Claude Mythos is an AI model that can detect security flaws in important operating systems and browsers.
The model has raised alarms among finance ministers and central bankers at the International Monetary Fund (IMF) meeting.
The Canadian finance minister said the risks from Mythos are unclear and need close attention.
Banks like Barclays will test their systems with the model before it is released to the public.
Anthropic has shared access to governments and banks early to help protect against cyber threats.
The Bank of England’s governor emphasized the importance of studying how this AI could increase cybercrime risks.
The US Treasury asked major banks to examine their security ahead of the public release.
Another US AI company may soon release a similar model but without as many protections.
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The UK video game industry grew to be worth £8.76 billion in 2025, showing an increase in software sales, hardware, and related culture products like merchandise and films. Despite this growth, the industry faces challenges such as competition for investment from artificial intelligence and a recent decline in new game startups and jobs, prompting the UK government to introduce a £28.5 million fund to support the sector.
Key Facts
The UK video game industry was valued at £8.76 billion in 2025, a 7.4% growth from the previous year.
Software sales reached £6.03 billion, hardware £2.17 billion, video game-related films and TV £566 million, and toys and merchandise £333 million.
The global video game industry has faced job losses and studio closures recently.
Investment in video games has decreased as many investors focus on artificial intelligence projects.
UK game developers are struggling to secure funding due to the uncertain market and strong competition from platforms like TikTok and AI apps.
The industry group TIGA reported a record decline in employment and a drop in new game startups in the UK.
The UK government announced a £28.5 million fund to provide grants for new and expanding video game companies.
This funding is part of a wider Creative Industries Sector Plan supporting TV, film, and music artists in addition to video games.
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A growing number of Pokémon card shops across the UK have been targeted by thieves in smash-and-grab robberies. These cards have become more valuable recently, with some rare cards selling for tens of thousands of pounds, making shops attractive targets for criminals.
Key Facts
Pokémon card shops in several UK towns, including Warrington, Rugby, and Bristol, have been robbed.
Thieves steal stock valued at tens of thousands of pounds in each robbery.
Pokémon cards have gained higher value especially since the Covid pandemic, attracting more collectors and investors.
Some rare cards have sold for millions of dollars, like a Pikachu card auctioned for $16.5 million.
Thieves may not always understand what they are stealing but know the cards are valuable and easier to steal than other goods.
Warrington’s Celestial Collectibles lost about £40,000 in one break-in.
Police forces across the UK are working together to address these robberies.
Local Pokémon card shops have shown community support by donating stock to help affected businesses.
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The Victoria and Albert Museum (V&A) is facing calls to pay all its workers the London living wage before opening its new site in Stratford. Campaigners say some staff and contractors earn less than the living wage of £14.80 an hour, which is higher than the UK minimum wage of £12.71.
Key Facts
V&A East, the museum’s newest site, opened in Stratford, east London.
The V&A is a group of museums including locations in South Kensington, Bethnal Green, and Dundee.
The UK minimum wage is £12.71 per hour; the London living wage is £14.80 per hour.
Some of the lowest-paid V&A workers and contractors currently earn less than the living wage.
Over 21,000 people have signed an open letter asking the V&A to pay the living wage.
Other museums like the National Gallery and Tate already pay the living wage.
V&A Dundee is accredited as a living wage employer, but the London sites are not.
Campaign groups Organise and Citizens UK lead the push for the V&A to pay fair wages to all employees.
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The Centers for Medicare & Medicaid Services (CMS) released a list of over 150 participants in the ACCESS health model, showing a wide mix of experienced healthcare organizations and new companies from related fields. The program aims to improve care for patients with chronic conditions by paying for results rather than services, but some worry not all participants are ready for the challenges involved.
Key Facts
CMS announced more than 150 participants in the ACCESS model focused on outcomes-based care.
Participants include longtime Medicare Advantage and healthcare providers, as well as companies from consumer tech and data analytics.
ACCESS lowers entry barriers compared to past federal healthcare programs to encourage innovation.
The goal is to improve measurable patient health results while managing costs and care coordination.
Experienced organizations face a familiar challenge of value-based care; newer participants may face a steep learning curve.
Some healthcare leaders see the diverse group as a chance to innovate faster, while others worry some entrants do not fully understand Medicare.
ACCESS emphasizes patient choice, recognizing Medicare patients also act as consumers seeking connected health devices.
Industry experts agree change is needed in Medicare care delivery and payment models.
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The stock market reached new high points on Thursday after making record gains the previous day. Investors are hopeful that the conflict with Iran will be resolved soon, which is helping the market rise.
Key Facts
Stock prices on Wall Street increased to new levels on Thursday.
The market had already seen record gains on Wednesday.
Investors feel positive about a possible quick end to the war involving Iran.
Optimism about resolving the conflict is boosting confidence in the stock market.
The information was reported by CBS News MoneyWatch correspondent Kelly O’Grady.
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Tom Cruise will star in "Top Gun 3," the next movie in the "Top Gun" series. The film has been officially approved by producer Jerry Bruckheimer and is now in development, with a script being worked on by Ehren Kruger.
Key Facts
"Top Gun 3" is officially going ahead after years of rumors.
Tom Cruise will return as the character Pete 'Maverick' Mitchell.
Producer Jerry Bruckheimer has approved the project.
Paramount has been developing the movie for two years.
Ehren Kruger is writing the script.
The cast for the new film has not been announced yet.
