A government report finds that higher-earning immigrants in the UK are more likely to leave the country, while lower earners tend to stay longer. Proposed rule changes to settlement rights may further discourage wealthy migrants from staying, which could affect the labor market and public finances.
Key Facts
The Migration Advisory Committee studied about 900,000 migrant journeys from 2014 to 2024.
Migrants earning less than £40,000 and health care workers have high stay rates, with 94% of nurses remaining after five years.
Higher earners (over £125,000) tend to leave the UK more often, possibly due to better job opportunities globally.
The government plans to increase the period required to qualify for settled status from 5 to 10 years.
Some groups, like higher earners and academics, might be discouraged from staying if settlement rules become stricter.
Younger migrants under 45 are more likely to stay long-term (81% remain after five years) than those aged 45 or over (65%).
Migrants from Africa and South Asia have higher stay rates than those from North America, Oceania, and East Asia.
London keeps more immigrants long-term compared to Scotland and Wales, which have lower retention rates.
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Mortgage rates for 30-year fixed home loans have risen to around 6.5-6.65%, reaching their highest levels since last August. This increase comes after the start of the Iran war, causing higher borrowing costs and slowing down the U.S. housing market this spring and likely through the summer.
Key Facts
The average 30-year fixed mortgage rate rose from 6.36% to 6.51% for the week ending May 21.
By May 25, the rate increased further to 6.65%, according to Bankrate data.
Mortgage rates had been expected to drop below 6% this year but instead rose after the Iran conflict began in late February.
The Iran war has led to higher gas prices and lower consumer confidence, affecting the housing market.
Mortgage rates were very low during the pandemic, around 2.6%, which boosted home buying.
Rates peaked at 7.8% in October 2023 but had dropped below 7% until the recent rise.
The future direction of mortgage rates depends on the situation in Iran and related impacts on oil prices and inflation.
If tensions ease, rates could fall toward 6% by the end of 2024; if not, they might rise back toward 7%.
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Due to disruptions in oil supply caused by the US-Israel conflict with Iran and sanctions on Russia, countries like China and India are buying more oil from Brazil. Brazil has increased its oil exports to Asia, especially China and India, as they look for safer sources outside the Middle East.
Key Facts
The war involving the US and Israel against Iran has disrupted oil trade through the Strait of Hormuz.
Sanctions on Russia have also limited its oil supply to global markets.
China and India have increased their purchases of Brazilian crude oil.
Brazil’s oil exports to Asia rose from 1.2 million barrels per day in 2025 to about 1.8 million barrels per day in early 2026.
Brazil’s oil production grew slightly from 3.77 million barrels per day in 2025 to over 4 million barrels per day in early 2026.
Petrobras, Brazil’s state oil company, now sends more than 60% of its exports to China, while exports to the US have stopped.
Higher oil prices are expected to improve Brazil’s trade balance and boost government revenue.
Brazil cannot fully replace Middle Eastern oil but is seen as a safer and more reliable supplier amid rising shipping risks through the Gulf.
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Oil prices dropped below $100 per barrel as hopes grew for a peace deal between the US and Iran. Although talks have made some progress, key issues remain unresolved, and oil flow through the Strait of Hormuz is still limited, keeping the market cautious.
Key Facts
Brent crude oil price fell 6% to $97.28 a barrel, the lowest in two weeks.
The potential peace deal could help end the nearly three-month US-Israeli war on Iran.
The US and Iran disagree on key points, including Iran’s blockade of the Strait of Hormuz.
The Strait of Hormuz is a vital route for oil shipments; its partial closure has pushed energy prices up.
Experts say oil flows may take months to return to normal due to damage and restrictions.
Some oil tankers have recently been able to pass through the strait after months of delays.
Stock markets rose, with Japan’s Nikkei up 3% and Europe’s Stoxx 600 up 0.9%.
Inflation fears remain due to high energy prices, influencing central banks to consider raising interest rates.
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Oil prices fell on Monday as talks continued between President Trump's administration and Iran about reopening the Strait of Hormuz and resolving the conflict in the Middle East. The price of West Texas Intermediate (WTI) crude dropped by over 6.1% to $90.68 per barrel.
Key Facts
Oil prices dropped sharply at the start of Monday trading.
The decline happened during negotiations between the U.S. government and Iran.
Discussions focus on reopening the Strait of Hormuz, a key shipping route for oil.
The talks aim to reduce tensions and end conflicts in the Middle East.
West Texas Intermediate crude, a main U.S. oil price marker, fell to $90.68 per barrel.
Brent crude, the global benchmark for oil prices, also decreased.
Changes in oil prices can impact fuel costs and the global economy.
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A new Trump Tower is planned for Tbilisi, Georgia, on land partly owned by the son of a Georgian billionaire and politician who was sanctioned by the U.S. government in 2024. The project is a partnership between the Trump Organization, run by President Donald Trump's sons, and several Georgian firms.
Key Facts
Trump Tower in Tbilisi will be built on land owned by the International Charity Fund Cartu.
Cartu is 35% owned by Uta Ivanishvili, son of Bidzina Ivanishvili, a powerful Georgian politician under US sanctions.
Bidzina Ivanishvili was sanctioned by the Biden administration in 2024 for undermining Georgia's democratic future.
Uta Ivanishvili reduced his ownership share after his father was sanctioned; the rest of the ownership is unclear.
US citizens are banned from doing business directly with Bidzina Ivanishvili without permission, but there are exceptions for his businesses.
The Trump Organization, managed by Donald Trump Jr. and Eric Trump, is partnering with four Georgian companies and one US company on the tower.
The Tbilisi plot was formerly a Soviet horse-racing track and was agreed to be sold to a new company in 2023.
The Trump Organization has similar projects abroad, including in Oman and Saudi Arabia, some involving government-owned land or partners.
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The U.S. Postal Service has brought back a stamp featuring Fred Rogers from Mister Rogers' Neighborhood after it won a public vote. More than 500,000 people voted, and the stamp beat other favorites like DC superheroes and Bugs Bunny. The new stamp and a souvenir sheet will be available at the Boston 2026 Expo and later in post offices and online.
Key Facts
The Mister Rogers stamp was first issued in 2018 and sold out quickly despite a large initial print of 12 million stamps.
The stamp won the Stamp Encore contest with over 500,000 votes, beating other popular options.
The vote was held to celebrate the U.S. Postal Service’s 250th anniversary and the country’s upcoming 250th anniversary.
The new stamp and a four-image souvenir sheet were unveiled at the Boston 2026 World Exposition.
The stamps will be sold exclusively at the Boston 2026 Expo until May 30, then available nationwide and online starting June 1.
Fred Rogers was known for his gentle and respectful communication style on his TV show, which made him beloved by many.
Rogers valued letters from children and saw mail as an important way to connect, making the stamp especially meaningful.
Fred McFeely Rogers was born in 1928 and helped start an educational TV station in Pittsburgh before creating his famous children’s program.
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Most rural shops in the UK have faced crime in the past year, including theft and shoplifting. These crimes have caused big financial losses for shop owners, and many have also experienced threats or attacks on their staff.
Key Facts
Nine out of ten rural retailers in the UK experienced crime in the last 12 months.
On average, each affected rural shop lost about £83,000 due to crime.
Almost 25% of rural retailers faced crime more than six times in the year.
Inner-city shops had the highest crime rate, with 94% reporting incidents, followed closely by urban and rural shops with around 91%.
One example is a farm shop in Kent that had a break-in at Easter, losing £5,000 and donations for charity.
A new UK law now makes assaulting retail workers a specific crime and removes a low-level theft threshold, increasing penalties.
Nearly half of rural retailers reported verbal abuse of their staff, and a quarter reported physical assaults.
Many retailers believe crime has increased across the UK in the past year.
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BHP, the world’s largest mining company, has delayed or canceled several projects aimed at reducing greenhouse gas emissions. Internal documents show BHP paused key climate initiatives, including renewable energy projects and plans to replace diesel trucks with electric ones, pushing investments into the 2030s.
Key Facts
BHP stopped or delayed major projects meant to cut emissions in its Western Australian iron ore operations.
A 50-megawatt solar farm and 20MW battery project at the Jimblebar mine was shelved after board approval and funding.
A large renewable energy system of nearly 500MW has been delayed with no funding planned before 2031.
BHP canceled an iron ore processing plant that could have cut 1.7 million tonnes of emissions yearly, equal to removing 350,000 cars from roads.
The company continues to buy diesel trucks instead of switching to electric, including a $500 million purchase for new diesel trucks.
BHP says it has cut emissions by 36% since 2020 but acknowledges some net-zero technologies are not yet ready.
Experts warn BHP’s delay in decarbonizing could undermine Australia’s national climate goals for 2030.
Internal warnings noted the risk to BHP’s reputation if climate actions were delayed, yet the slowdown proceeded.
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BHP, Australia’s largest miner, has bought many new diesel trucks for its Pilbara mines even though these trucks produce pollution and go against its climate goals. The company delayed switching to electric trucks because it said the technology is not ready, and it plans to keep using diesel trucks at new and existing mines until at least 2040.
Key Facts
BHP is the biggest user of diesel fuel in Australia’s mining sector.
Trucks are the largest source of BHP’s diesel emissions.
BHP planned to test electric trucks in Western Australia in 2024 and start using them widely by 2027-2028.
Instead, BHP bought 62 new diesel trucks worth over $500 million for the Jimblebar mine.
BHP stated electric truck technology is not yet ready for full use.
Plans for the new Ministers North mine include using diesel trucks expected to operate until 2041.
BHP’s original plan was to refurbish old diesel trucks to last until electric trucks could replace them by the 2030s.
The company’s climate strategy aims to replace all diesel trucks by 2040, but recent purchases may delay this goal.
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BHP stopped plans to build a plant near its Jimblebar mine that would have improved iron ore quality and greatly cut emissions. This project, along with other climate-related initiatives, was canceled or delayed despite being seen as beneficial for reducing pollution and aligning with BHP’s climate goals.
Key Facts
BHP planned to build a beneficiation plant near Jimblebar mine to improve iron ore quality and lower emissions.
The plant would have reduced emissions by 1.7 million tonnes annually, equal to removing over 350,000 cars from the road.
Higher quality iron ore helps steelmakers cut their emissions more cheaply.
BHP stopped the project in June 2025, citing economic concerns and competition for investment.
The company also paused a 50MW solar and battery project and delayed a nearly 500MW renewable energy system.
BHP continues acquiring diesel trucks despite promises to switch to electric vehicles in Pilbara.
Documents revealed BHP’s delays raise questions about Australia’s safeguard mechanism, a policy requiring large polluters to reduce emissions intensity.
The Australian government updated the safeguard mechanism in 2023, demanding yearly emission intensity reductions of up to 4.9%.
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Investors in Metro Bank are being advised to vote against the bank’s pay report because of concerns over a complex bonus plan that rewards executives based on the bank’s share price, regardless of overall performance. The CEO’s pay has increased significantly, prompting criticism from a major shareholder adviser ahead of the bank’s annual meeting in June.
Key Facts
Institutional Shareholder Services (ISS), a major proxy adviser, recommended rejecting Metro Bank’s pay report.
ISS criticizes a bonus plan called the “shareholder value alignment plan” (SVAP) that links executive bonuses directly to the bank’s share price.
CEO Dan Frumkin’s pay could reach £60 million under this bonus scheme.
Frumkin’s fixed salary will rise 11.3% to £1.05 million in 2026, following a roughly 20% increase in 2024.
His total pay doubled to £2.6 million in 2025, the highest since the bank was founded in 2010.
ISS also noted inadequate disclosure about how bonuses tied to non-financial targets like “people objectives” and risk management are measured.
Despite these pay concerns, Metro Bank reported record revenue and its highest pre-tax profits in history last year.
Metro Bank is undergoing a turnaround focused on corporate lending after a near collapse in 2023, backed by a £925 million rescue deal involving investor Jaime Gilinski Bacal, who owns 53% of the bank.
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Many Americans are spending money on small, affordable treats even though they feel worried about the overall economy. These smaller purchases, like movie tickets and food delivery, help keep consumer spending steady during a time some call a "vibecession," where people feel okay personally but pessimistic about the bigger economic picture.
Key Facts
Americans are buying small, affordable items such as movie tickets and collectible watches to enjoy themselves while being cautious with money.
The "vibecession" describes a situation where consumers feel stable personally but are pessimistic about the economy.
Inflation, slower income growth, and rising credit card debt are causing people to limit bigger expenses and instead choose smaller splurges.
Movie theaters offer relatively low-cost tickets with some premium options selling at higher prices, like $50 for special events.
Food delivery services like DoorDash saw a 27% increase in orders during the first quarter.
Beauty product sales rose 6.7% in the first quarter, showing consumers still buy personal care items during economic worries.
High-income households increased spending on clothing, while lower-income groups reduced it.
Rising oil prices connected to the Iran conflict could lead to higher travel costs, potentially impacting summer travel plans.
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Oil prices dropped on Monday after President Donald Trump said a peace deal with Iran was mostly agreed upon. Although prices fell, the cost of Brent crude oil remains much higher than before the conflict started on February 28.
Key Facts
President Donald Trump announced that a deal with Iran has been "largely negotiated."
Oil futures fell following this announcement.
Brent crude oil prices are still much higher than they were before the war began on February 28.
Some commercial ships are able to pass through the Strait of Hormuz, an important shipping route.
The article briefly mentions Ferrari planning to release its first fully electric supercar.
The Middle East conflict and energy crisis remain major concerns in global markets.
The news source is France 24, and the article was published on May 25, 2026.
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Wendy’s, once a popular fast-food chain known for its fresh, never frozen beef and iconic square burgers, is facing tough challenges with declining sales and shrinking presence in the U.S. The company recently hired Robert D. “Bob” Wright as its new CEO to lead a turnaround effort amid discussions of a possible buyout.
Key Facts
Wendy’s was founded in 1969 by Dave Thomas in Columbus, Ohio.
The chain is famous for its fresh, never frozen beef and square burger patties.
Wendy’s has lost more than half its stock value in the past five years.
The company’s U.S. footprint is shrinking as it faces strong competition.
McDonald’s and fast-casual chains like Shake Shack and Five Guys have overtaken Wendy’s market position.
Wendy’s recent CEO change appointed Bob Wright, who previously helped turn around Potbelly.
Fresh beef increases costs and complicates Wendy’s supply chain compared to frozen beef used by competitors.
Wendy’s menu prices are higher than typical fast food but lower than premium fast-casual brands, creating a difficult market position.
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U.S. oil supplies are falling quickly due to increased exports and using emergency reserves to cope with the effects of the war in Iran on oil markets. This drop in oil stocks lowers the safety backup meant to protect against sudden oil shortages and could cause higher fuel prices for Americans.
Key Facts
U.S. crude oil inventories dropped by 17.8 million barrels for the week ending May 15.
Total oil stocks, including emergency reserves, are at their lowest level in nearly a year.
The war in Iran led to the closure of the Hormuz Strait, a key oil shipping route, causing global oil prices to rise sharply.
Gas prices in the U.S. have increased by about 50%, averaging over $4.50 per gallon.
The U.S. Strategic Petroleum Reserve is being used to help stabilize oil supply.
U.S. crude oil stocks are about 2% below the five-year average for this time of year.
Experts warn that continued inventory drops will reduce the U.S.'s ability to respond to further supply problems and may push fuel prices higher in summer.
Some analysts say that when inventories fall to a critical minimum, prices will need to rise further to reduce demand.
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Most fast food and casual dining restaurants will be open on Memorial Day, May 25, but their hours might be shorter or different depending on the location. This is because many restaurants are run by independent owners who decide their own holiday hours.
Key Facts
Memorial Day is on Monday, May 25.
Most major fast food chains like McDonald’s, Taco Bell, Burger King, and Chick-fil-A will be open.
Hours may be reduced or vary by location because many restaurants are franchises.
Starbucks, Domino’s, Pizza Hut, Wendy’s, and Applebee’s are also expected to be open.
Some restaurants in malls, airports, or office buildings might close if the facility is closed.
Delivery and takeout options like Domino’s and Papa John’s will be available.
Some chains, like Chick-fil-A, are open on Memorial Day but closed on other holidays like Thanksgiving or Christmas.
It’s best to check individual restaurant apps or websites for exact hours before visiting.
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SpaceX, the aerospace company founded by Elon Musk, plans to sell its shares to the public on the Nasdaq stock exchange, an event called an initial public offering (IPO). This sale could raise up to $80 billion and value the company between $1.75 trillion and $2 trillion. The IPO is highly anticipated because it may be the largest ever and could make Musk the first trillionaire.
Key Facts
SpaceX designs and launches rockets and spacecraft, and partners with NASA to supply the International Space Station.
The company also offers internet and artificial intelligence services through its Starlink and xAI divisions.
An IPO allows private companies to sell shares to the public for the first time.
SpaceX will trade under the symbol “SPCX” on the Nasdaq stock exchange.
The IPO is expected to happen around June, though no official date is confirmed.
The deal is backed by 23 major financial institutions, including Goldman Sachs and Morgan Stanley.
If successful, this IPO could be the largest in history, surpassing even the Saudi Aramco IPO in 2019.
The event is important for the growing private space industry and may influence future investment trends worldwide.
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A research report by the Joseph Rowntree Foundation says the best way to reduce the welfare bill is to focus on creating more jobs, not cutting benefits. The study shows that if 80% of working-age people had jobs, the government could save £10 billion on universal credit costs.
Key Facts
Getting 80% of working-age people into jobs could reduce universal credit costs by £10 billion.
Spending on non-pensioner benefits is expected to stay about 5% of GDP through the current parliament.
Polling shows 59% of voters want the government to reduce welfare costs by tackling root causes like job creation, housing, and health.
Only 20% of voters support cutting benefits quickly by limiting eligibility.
Claims for health-related universal credit are higher in areas with fewer local jobs, often in former industrial or coastal regions.
Nearly 1 million young people aged 16 to 24 are not in education, employment, or training (called Neets).
The government is investing in jobs programs, apprenticeships, and training for young people and disabled individuals.
The Department for Work and Pensions emphasizes helping people into work while allowing those on sickness or disability benefits to try working without losing benefits immediately.
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Singapore’s economy grew by 6 percent in the first quarter of 2026, beating earlier predictions. The growth was mainly due to strong demand for AI-related products, despite worries about the impact of the US-Iran conflict on global trade.
Key Facts
Singapore’s GDP increased 6 percent compared to the first quarter of the previous year.
This growth exceeded the government’s initial estimate of 4.6 percent.
Growth was led by strong sales in wholesale trade, manufacturing, finance, and insurance sectors.
High demand for AI chips boosted manufacturing and equipment supply businesses.
The government expects overall growth of 2 to 4 percent for 2026, but notes risks from rising energy prices and shipping disruptions at the Strait of Hormuz.
The conflict between the US and Iran has led to blockades that affect global shipping and economic activity.
Singapore produces about 10 percent of the world’s semiconductors and 20 percent of semiconductor equipment.
Economists see the Q1 growth as positive but remain cautious due to Singapore’s reliance on global trade conditions.
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