BHP, a large mining company, has delayed its plans to reduce emissions, partly because electric trucks and trains are not yet advanced enough to replace diesel. The Western Australian premier says big mining companies have a moral responsibility to reduce pollution as part of their social role. Internal documents reveal BHP may delay major climate actions until 2035 or 2040, risking its goal to reach net zero emissions by 2050.
Key Facts
BHP stopped a project that would have cut 1.7 million tonnes of emissions each year, equal to removing 350,000 cars from the road.
The company delayed renewable energy projects and continues to use polluting diesel trucks.
BHP's WA iron ore head said slower electric vehicle technology has postponed diesel replacement plans without a clear timeline.
Internal documents show BHP might delay major climate investments until 2035 or 2040.
Western Australia’s premier, Roger Cook, said miners have a moral duty to reduce emissions to keep public support for mining.
The federal government gave BHP $622 million in diesel tax rebates, while the company paid less than $9 million for exceeding emission limits last year.
BHP has cut global emissions by 36%, mostly from its Chile operations and closing a nickel mine, but emissions in Australia remain largely unchanged.
Analysts doubt BHP’s current plan will successfully meet its goal of net zero emissions by 2050.
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Energy prices in Great Britain will rise by 13% from July to September, increasing the average household energy bill to about £1,862 a year. The rise is due to higher global energy costs caused by the war involving Iran and supply disruptions, leading to higher gas and electricity charges under the government’s price cap.
Key Facts
The energy price cap in Great Britain will increase by 13% starting in July until the end of September.
Average yearly household energy bills under the cap will rise to £1,862.
Electricity prices for direct debit payers will go up from 24.67p to 26.11p per kilowatt hour (kWh).
Gas prices for direct debit payers will increase from 5.74p to 7.33p per kWh.
The rise is linked to the war on Iran disrupting oil and gas exports from the Gulf region.
Gas prices in Europe have more than doubled from before the crisis, partly due to halted Russian gas exports after the Ukraine invasion.
Petrol prices have increased nearly 20%, and diesel prices have risen over 30% at the pump in the UK.
Household energy debt reached a record £4.5 billion, with unpaid bills partly covered by a £52 annual charge included in the price cap.
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A Manchester startup called Dekiln has teamed up with UK tile supplier Johnson Tiles to test a new way of making tiles without using energy-heavy kilns. Their tiles are made from recycled waste and use much less energy, aiming to help revive the struggling UK ceramics industry.
Key Facts
Dekiln makes tiles from recycled plaster waste and plant-based binders without firing them at high temperatures.
This process uses over 90% less energy compared to traditional tile production, which requires kilns heated to around 1,000°C.
Johnson Tiles will run a pilot manufacturing site in Stoke-on-Trent to try this technology.
The UK ceramics industry has been harmed by rising energy costs, leading many companies to close in recent years.
The government recently announced a £120 million support package for the ceramics sector.
Dekiln’s tiles are waterproof and good for indoor walls but currently not suitable for outdoor or floor use.
The technology allows for more color options because the tiles are not fired at high heat.
Dekiln was founded in 2021 and has received £3 million in funding from the Royal Academy of Engineering.
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China’s electric vehicle (EV) exports increased by 40 percent in April, reaching over 278,000 vehicles. This growth strengthens China’s lead in the global EV market despite trade restrictions from the United States and Europe.
Key Facts
China exported 278,081 electric vehicles in April 2026.
Total Chinese EV exports for the year so far reached 893,852 vehicles.
Asia imported the most Chinese EVs, followed by Europe and Latin America.
Brazil saw the biggest jump in demand, with imports increasing by 221 percent.
The US charges a 100 percent tariff on Chinese EVs and bans some related software.
The European Union applies tariffs up to 35.3 percent on Chinese EV imports.
China made about 75 percent of all EVs globally in 2025.
Chinese EV exports hit a record 2.5 million vehicles in 2025, twice the previous year’s amount.
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Dairy farmers in the UK are being paid less for milk than it costs them to produce it, causing concerns about the future of small family farms. While bigger farms produce more milk overall, many smaller farms are closing due to the low prices and rising costs.
Key Facts
Farmers receive about 32 to 35 pence per litre of milk.
The cost to produce milk ranges from 42 to 49 pence per litre.
Many small family farms are shutting down because they lose money on milk sales.
The number of dairy farms in the UK fell from 8,310 in 2020 to 7,010 recently.
Bigger farms produce slightly more milk, increasing total production by 4%.
Milk prices have fluctuated due to global events like the Russia-Ukraine conflict.
Prices peaked around 55 pence per litre in 2022 but dropped to about 32-35 pence in late 2025.
Rising production costs make it hard for farmers to earn a living from milk.
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Changing Lives Together runs The Very Green Grocery in Crewe, selling surplus and short-date food items to the public for £7 per shop. The store helps reduce food waste by offering good quality food at lower costs, with customers often receiving goods worth £30-£35.
Key Facts
The Very Green Grocery sells surplus food, short-dated items, and damaged packaging foods that would otherwise be thrown away.
Customers pay £7 to shop and can pick items across different food categories like fresh, canned, baked, and frozen goods.
Most customers get a retail value of £30-£35 worth of food for their £7 payment.
The grocery aims to reduce food waste by collecting unwanted food from retailers and redistributing it.
The store currently opens two times a week but hopes to increase to five or six days as logistics improve.
Changing Lives Together also operates similar grocery sites in Northwich and Winsford.
Customers say the store helps them save money and reduces food going to landfill.
The charity is expanding its network of food suppliers to increase the variety and availability of food.
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The Isle of Man is lowering VAT (a type of sales tax) on children's meals and family tickets for entertainment from 20% to 5% between June 25 and September 1. This tax cut aims to help families with rising costs and support local businesses during the summer.
Key Facts
VAT on children's meals in restaurants will drop from 20% to 5% from June 25 to September 1.
The reduced VAT also applies to family tickets for cinemas, theatres, shows, and attractions.
Fuel duty (tax on fuel) will remain frozen until December 31.
Tax on red diesel fuel used by farming and fishing industries will be cut by about one-third starting June 15.
The red diesel duty will fall from 10.18p to 6.48p per litre.
Treasury Minister Chris Thomas said the changes help families manage costs and support local businesses.
Environment Minister Clare Barber said the fuel duty cut will help farming and fishing businesses by lowering their expenses.
These measures align with similar efforts in the UK to ease living costs for families.
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Justin Stevens has resigned from his position as ABC director of news after four years. He cited personal and professional reasons for leaving, and his departure is effective immediately.
Key Facts
Justin Stevens worked at ABC for 19 years, including four years as director of news.
ABC managing director Hugh Marks praised Stevens for his strong commitment and editorial skills.
Stevens said ABC News faces complex challenges and high public expectations.
He aimed to improve ABC’s journalism and adapt to changes in the digital news landscape.
Stevens wanted to improve the working culture in ABC News.
His resignation took effect immediately.
ABC News is considered the number one digital news provider in the country.
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The Insurance Institute for Highway Safety (IIHS) and Consumer Reports released a list of the safest cars for teen drivers, including both new and used models. The list ranks 96 vehicles based on safety features such as crash protection and emergency braking, with price ranges starting under $10,000 for used cars and including new 2026 models.
Key Facts
The list focuses on teen drivers due to their higher risk when driving.
It includes 96 cars, both new and used, selected for safety features like brakes, headlights, and emergency handling.
Used cars priced under $20,000 with top ratings include 29 models; 45 used cars priced under $10,000 offer good crash protection.
New vehicles listed are mostly 2026 models that passed recent IIHS crash tests.
Vehicles with too much horsepower or marketed for performance were excluded for safety reasons.
Minicars and large SUVs or pickups were also excluded because they are less safe or harder to control for teens.
The list provides prices and model years for various categories like small cars, midsize cars, SUVs, and larger cars.
Examples of safe used small cars under $10,000 include Hyundai Elantra, Honda Civic, and Subaru Impreza.
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French luxury department store Galeries Lafayette closed its Beijing flagship store after 13 years due to weaker consumer spending and changing shopping habits in China. The store is shutting indefinitely as the company adjusts its business model to meet modern shoppers' preferences.
Key Facts
Galeries Lafayette opened its first Beijing store in 2013 and closed it in May 2026.
The Beijing location had six floors and sold handbags, clothes, shoes, and toys.
China’s luxury market grew rapidly when the store first opened but has slowed due to COVID-19 and economic problems, including a property crisis.
The company said shoppers now want more convenience, better service, meaningful experiences, and a sense of wellbeing.
Galeries Lafayette will update its business format to address changing consumer needs.
The chain still operates stores in Shanghai (since 2018) and Shenzhen (since 2023).
Local workers noticed fewer customers before the closure and expressed surprise at the shutdown.
The closure highlights challenges faced by luxury brands in adapting to China’s evolving market conditions.
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Paul Keating has urged the Labor government to continue with its planned changes to capital gains tax (CGT) without making exemptions for commercial assets. The government wants to shift the CGT discount to an inflation-based model to reduce housing investment distortions and encourage more balanced economic growth.
Key Facts
Labor plans to change the 50% discount on capital gains tax to a system that only taxes profits above inflation.
Small businesses with revenue under $2 million will be exempt from these CGT changes.
Paul Keating supports these changes and warns against exempting commercial assets, which could cause more economic problems.
Treasurer Jim Chalmers says past tax policies favored established housing too much, harming other investment types.
Investors and entrepreneurs oppose the changes, saying they will reduce investment and risk-taking.
The legislation also includes changes to negative gearing, a $1,000 standard tax deduction, and a $250 tax offset for workers.
Labor aims to pass this legislation by July before parliament’s winter break, but the opposition Coalition wants to delay it until July 2027.
There may be Senate inquiries and negotiations involving the Greens and the Coalition about the tax changes and disability funding.
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The stock market values of chipmakers SK Hynix and Micron have each risen above $1 trillion because of high demand for computer chips used in artificial intelligence (AI). This increase is part of a larger trend where companies linked to AI technology are seeing big growth in sales and stock prices.
Key Facts
SK Hynix’s shares rose 10% in one day and have tripled since the beginning of the year.
Micron’s shares increased nearly 20% after investment bank UBS raised its price target for the company.
Both SK Hynix and Micron now have stock market values above $1 trillion.
Other companies with valuations above $1 trillion include Nvidia, Amazon, Apple, Microsoft, Alphabet (Google’s parent company), and Meta.
The demand for advanced computer chips used in AI has caused a global memory chip shortage.
South Korea’s Samsung Electronics recently joined the $1 trillion club, becoming the second Asian company to do so after Taiwan’s TSMC.
Samsung is a major chipmaker and supplies companies like Nvidia.
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Household energy bills in the UK will rise sharply in July due to higher wholesale prices caused by the war in Iran. The energy regulator Ofgem plans to increase the price cap, leading to typical households paying about £209 more per year for gas and electricity.
Key Facts
Ofgem will announce a new energy price cap for July to September that is expected to rise by 13%.
A typical household’s annual energy bill could increase to around £1,850, up by approximately £209.
The rise is linked to a 25% increase in global gas prices caused by the conflict near the Strait of Hormuz.
Wholesale energy costs make up about 40% of household gas and electricity bills.
The price cap covers about 19 million homes on variable tariffs in England, Scotland, and Wales; fixed tariff customers are not affected until their contracts end.
Many households have already reduced energy use through conservation to save money.
The government is working on targeted support plans to help those most affected before winter.
Energy bills have already increased by about £600 annually since the price rise started in 2022-23.
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The UK government plans to upgrade WiFi on more than 1,400 main line trains by using new technology that connects trains to low-earth satellites. This upgrade aims to deliver faster and more reliable internet service on trains, improving connectivity from around 50-60% coverage to at least 90%.
Key Facts
The government will spend £57 million to fund the WiFi upgrade on nationalised main line trains.
The new system uses satellites to provide internet, which should be better than current 4G and 5G mobile networks.
The upgrade follows successful trials with several train operators like LNER and Great Western Railway.
The plan is to improve WiFi availability so most passengers can connect online during their journeys.
Transport Secretary Heidi Alexander is expected to announce more details about the plan this summer.
Passenger groups say WiFi is important but still see cost, overcrowding, and delays as bigger problems for rail users.
The government is setting up Great British Railway to manage rail services and infrastructure as part of broader improvements.
The upgrade aims to solve common problems with slow internet and dead zones on trains.
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Marie Lora-Mungai has written a new book called "Creative Cash Flow." It helps African artists learn how to manage their money and business so they can keep sharing their talents.
Key Facts
African creative talents are well-known worldwide.
Many creatives struggle financially because they lack business support.
Marie Lora-Mungai advocates for developing Africa’s creative industries.
Her book provides practical financial advice tailored to African artists.
The book aims to help creatives turn their skills into sustainable careers.
"Creative Cash Flow" focuses on the business side of artistic work.
The goal is to empower African artists to maintain and grow their work.
The discussion was featured in the show Across Africa.
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Samsung Electronics workers in South Korea agreed to a deal that gives them large annual bonuses, avoiding a strike. The company’s profits have grown significantly because of increased demand for memory chips used in artificial intelligence (AI) data centers.
Key Facts
Around 78,000 Samsung employees will each get a bonus of about $370,000 this year.
The bonus deal was approved by more than 73% of Samsung union members.
The deal ends the threat of an 18-day strike that worried South Korea’s economy.
Samsung’s memory chip profits rose sharply due to high demand for AI technology.
Bonuses for semiconductor workers will be partly paid in company shares and partly in cash.
Samsung Electronics accounts for about 12.5% of South Korea’s gross domestic product (GDP).
Last year, SK hynix, another chipmaker, paid bonuses more than three times larger than Samsung.
Large bonuses help keep highly skilled workers in South Korea amid growing competition from U.S. tech companies.
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The U.S. government has picked five companies to discuss using surplus plutonium from old nuclear weapons as fuel for advanced nuclear reactors. This move follows President Donald Trump’s order to stop diluting plutonium for disposal and instead use it as fuel, aiming to create cleaner energy but raising some safety and security concerns.
Key Facts
The U.S. Department of Energy chose five companies, including Oklo, to develop fuel from Cold War-era plutonium.
The plutonium comes from dismantled nuclear warheads and lasts for about 24,000 years.
Oklo is working with newcleo, a European company, to create this new fuel.
President Trump ordered the halt of diluting and disposing of plutonium in May last year.
Some lawmakers worry that using weapons-grade plutonium as fuel could cause security risks.
Other companies involved are Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy.
The program aims to help companies get private funding to develop advanced nuclear reactors.
Using the plutonium as fuel could reduce the amount of nuclear waste the U.S. has to manage.
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BP removed its Chair, Albert Manifold, because of serious concerns about how he managed the company and behaved. The decision was made quickly and unanimously by the board, and Ian Tyler will temporarily take over while BP looks for a new permanent chair.
Key Facts
Albert Manifold was removed as BP Chair and director due to governance and conduct issues.
The board acted immediately and agreed unanimously on his removal.
Ian Tyler, a BP board member since April 2025, will serve as interim chair.
BP will start searching for a new permanent chair.
Manifold became chair less than a year before his removal.
Manifold previously led CRH, a global building materials company.
BP’s earnings in 2025 dropped by 16% to $7.49 billion.
BP’s share price fell 5% on the New York Stock Exchange on the day of the announcement.
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The police investigation into the Post Office Horizon IT scandal could be delayed by up to five years without extra funding. The investigation team needs to nearly double in size to keep on track to submit files for possible prosecutions by late next year or early 2028.
Key Facts
The investigation is called Operation Olympos and started in 2020.
It looks into errors in the Horizon IT system used by the Post Office since 1999.
The system caused false accounting shortfalls wrongly blaming sub-postmasters.
Over 900 people were prosecuted, some went to prison, and some died waiting for justice.
111 detectives are currently working on the case, but 99 more are needed.
Police have received £2.8 million from the Home Office but need £16.5 million more this year.
Detectives are reviewing around 8 million documents to find evidence.
Police forces are already under heavy pressure, making funding delays more serious.
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Many people are struggling to pay off their debts because of higher costs and high credit card interest rates. Selecting the right debt relief plan depends on the type of debt, your financial situation, and how it might affect your credit score.
Key Facts
Credit card interest rates average about 22%, making debt grow quickly for those who carry balances.
Rising prices of everyday items reduce the money available to pay both debts and living expenses.
There are many debt relief options, but not all work for every type of debt.
Unsecured debts (like credit cards and personal loans) can be managed with programs like debt settlement or consolidation loans.
Secured debts (like mortgages or car loans) usually require different solutions.
Debt settlement involves negotiating with creditors to reduce the amount owed but can harm your credit score.
Debt consolidation combines multiple debts into one loan, often with a lower interest rate, to save money.
Bankruptcy is another option that affects a wide range of debts but has long-term financial consequences.
Your current income, savings, and cash flow influence which debt relief strategies are possible for you.
Some strategies require consistent lowered payments, while others pause payments temporarily.
It’s important to consider if your financial situation might improve soon before choosing a plan.
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