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Business News
Business news, market updates, and economic developments
Ferrero Group is buying WK Kellogg, a U.S. cereal brand, for about $3.1 billion. This deal comes as the cereal industry faces less demand and rising costs. The acquisition is expected to complete in the second half of 2025.
Key Facts
Ferrero Group will purchase WK Kellogg for approximately $3.1 billion.
Ferrero's offer is $23 per share, a 31% increase over the previous stock price.
The deal will close in the second half of 2025.
WK Kellogg was spun off from a company called Kellanova.
Kellanova, Cheez-It's parent company, is being acquired by Mars for nearly $36 billion.
WK Kellogg expects lower sales and profit than analysts predicted.
US Health and Human Services is pressuring food companies to stop using synthetic dyes.
Ferrero employs 14,000 people in North America and bought Nestle's US candy business in 2018.
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A BBC program titled "The Bottom Line" explores what helps a start-up business grow into a successful, multi-million-pound company. The episode, released on July 10, 2025, is available for over a year and discusses key factors for scaling up a business.
Key Facts
The BBC program is called "The Bottom Line."
The episode focuses on how start-ups can become successful and grow into multi-million-pound businesses.
It was released on July 10, 2025.
The episode is 31 minutes long.
The program will be available to listen to for more than a year.
The discussion includes what is needed to expand a new business.
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The government has decided not to change electricity bills based on location, sticking with the current national pricing where everyone pays the same rate. This decision came after discussions about a zonal pricing approach, which some believe could lower costs in energy-rich areas but might have discouraged investment.
Key Facts
The government decided against a plan to set electricity bills based on customer's location.
Energy Secretary Ed Miliband initially considered zonal pricing but chose to reform the national pricing system instead.
Zonal pricing could lower bills in areas that generate more energy but might reduce investment from energy companies.
Currently, everyone in the country pays the same flat rate for electricity, regardless of where they live.
The decision followed a three-year consultation on electricity pricing.
Zonal pricing has been used in countries like Australia, Sweden, and Italy.
Some industry voices argue that keeping a national system provides a stable environment for investment.
Energy UK supported the government's choice, while others feel this does not address underlying market issues.
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Millions of UK homeowners will see their monthly mortgage payments increase by an average of £107 as their current deals expire. The Bank of England has also reported that some mortgages will cost less due to recent interest rate cuts, and first-time buyers may find it easier to get loans as some lending restrictions are relaxed.
Key Facts
About 3.6 million home loans in the UK are up for renewal over the next three years.
This affects 41% of all outstanding mortgages in the country.
The expected average monthly payment increase is £107, which is lower than earlier estimates of £146.
Approximately 2.5 million households could see reduced mortgage bills because of interest rate cuts.
First-time buyers may have better access to mortgages as banks ease restrictions on riskier lending.
Up to 36,000 new, higher loan-to-income mortgages may be available each year due to these relaxed rules.
Individual banks can issue more high loan-to-value mortgages, but the industry must maintain a 15% limit on such loans.
The global trade war has led to increased financial instability, affecting the strength of the US dollar.
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A court blocked a new rule from the Federal Trade Commission (FTC) that would have made it easier for people to cancel subscriptions. The rule was supposed to start soon, but the court said the FTC didn't follow required steps in their process.
Key Facts
The new rule, called "click-to-cancel," aimed to help consumers easily cancel unwanted subscriptions.
The rule required businesses to get customer approval before charging for memberships or renewals.
Businesses also needed to tell customers when free trials were ending and make cancellations easy.
The Biden administration supported this rule as part of its "Time is Money" effort to reduce consumer hassles.
The rule was blocked by the U.S. Court of Appeals for the Eighth Circuit due to procedural mistakes.
The court said the FTC should have done a preliminary analysis because the rule could impact the economy by more than $100 million yearly.
An administrative judge stated the rule would have more than a $100 million economic impact.
The FTC is also preparing for a trial against Amazon regarding its Prime program over subscription issues.
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Nvidia has become the first company in the world to reach a market value of $4 trillion. The increase in value is due to a high demand for the technology that powers artificial intelligence. Nvidia's share prices have risen, despite earlier drops caused by trade tensions.
Key Facts
Nvidia is the first company to reach a market value of $4 trillion.
The company's shares went up by 2.4% to $164 on a recent Wednesday.
The demand for technology used in artificial intelligence is boosting Nvidia's value.
Nvidia passed a market value of $1 trillion for the first time in June 2023.
In April, Nvidia's shares fell due to concerns over trade policies under former President Trump.
Since spring, Nvidia's shares have increased despite ongoing trade worries.
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Linda Yaccarino announced she is stepping down as CEO of X, previously known as Twitter, after two years. Her departure follows a recent controversy involving X's merging with xAI, which drew criticism for inappropriate statements. Yaccarino did not give a reason for her resignation.
Key Facts
Linda Yaccarino served as CEO of X for two years.
She announced her resignation shortly after a controversy involving Elon Musk's company, xAI, which merged with X.
xAI faced backlash for making offensive statements and praising Hitler.
Yaccarino did not specify why she decided to leave the company.
She was hired to stabilize X's advertising business and bring back advertisers.
Elon Musk thanked Yaccarino for her contributions via a post on X.
Yaccarino had a background in global advertising and partnerships at NBCUniversal.
Musk previously criticized advertisers who stopped using the platform, claiming they could harm the company.
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NPR's A Martínez interviewed Jay Foreman, the CEO of Basic Fun!, a toy company. They talked about how recent decisions by President Trump on tariffs are affecting the toy business.
Key Facts
Jay Foreman is the CEO of Basic Fun!, which makes toys like Tonka and Care Bears.
NPR's A Martínez conducted the interview.
They discussed the effects of President Trump's tariff decisions on business.
Tariffs are taxes on goods coming into the country from abroad.
The interview will be available as audio later on the same day.
The segment aired on NPR's Morning Edition program.
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An Instagram post by Gemma Collins advertising a weight-loss drug and app has been banned by the Advertising Standards Authority (ASA). It's against the law to advertise prescription-only weight loss drugs, and this was part of a crackdown involving nine adverts.
Key Facts
Gemma Collins' Instagram post promoted Yazen's weight-loss app and medication.
The ASA banned her advert because it's illegal to promote prescription-only weight loss drugs.
The ASA is the UK body that regulates advertising to make sure it's legal and truthful.
Collins admitted her post promoted the Yazen service and agreed to follow guidelines in the future.
Yazen is a Swedish digital health brand offering a weight-loss program with medication and coaching.
The ASA consulted with the Medicines and Healthcare products Regulatory Agency about the advert.
Eight other adverts were also banned for promoting prescription weight-loss drugs.
These banned adverts appeared on platforms like Meta (formerly Facebook) and Google.
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U.S. beef prices have reached their highest levels since the 1980s, causing higher costs for consumers and restaurants. The main reasons are strong demand, fewer cattle due to drought, and higher costs in the supply chain, with prices expected to stay high for several years.
Key Facts
Beef cost reached $5.98 per pound in May, the highest since tracking began in the 1980s.
Ground beef prices increased 45% over the last 10 years, more than overall food prices.
The U.S. has fewer beef cattle now than since the 1960s, with about 27.8 million head in 2025.
Severe droughts since 2021 have forced ranchers to reduce cattle herds, lowering supply.
Beef cattle reproduce slowly, meaning herds take a long time to grow again.
High grain prices, tariffs, and rising interest rates add to the cost of beef production.
Despite cheaper and plentiful alternatives like pork and poultry, beef demand remains high.
The U.S. Department of Agriculture expects beef prices to continue rising and stay high for the next several years.
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NPR's Planet Money highlighted five recent economics papers in their newsletter. One paper, by Nicholas Muller, focuses on the history of firewood's role in the American economy. It details how firewood was the primary energy source in the U.S. until coal became more prominent.
Key Facts
Nicholas Muller is an economist from Carnegie Mellon University.
His paper is titled "Firewood in the American Economy: 1700 to 2010."
Firewood was the main energy source in the U.S. until around 1860.
Around 1860, firewood accounted for 85% of energy consumption in the U.S.
Coal production increased in the 1830s but was initially more expensive than firewood.
Coal became the main energy source by 1900, making up 71% of energy use.
After World War I, coal's dominance decreased as oil and natural gas became more popular.
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Tesla shares fell by 7% after CEO Elon Musk announced he would start a new US political party, which caused tensions with President Donald Trump. Investors are worried about how Musk's political plans might affect Tesla, especially given a recent decline in sales. Analysts are concerned that Musk's focus on politics could distract him from his role at Tesla.
Key Facts
Tesla shares dropped by 7% on Monday following Elon Musk's announcement about starting a new political party.
Elon Musk's announcement has increased concerns among analysts about his commitment to Tesla.
President Donald Trump criticized Musk's political party idea, calling it “ridiculous.”
Tesla reported a sales decline in the second quarter, which some link to Musk's political involvement.
Musk is involved in a public dispute with President Trump, who threatened to cut federal subsidies to Musk’s companies.
Tesla’s market valuation could decrease by over $80 billion if the stock losses continue.
Investors and analysts are worried about Musk's focus on politics, preferring him to concentrate on Tesla’s business.
Tesla's board has faced criticism for not controlling Musk's activities outside the company.
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Erin Patterson was found guilty by an Australian jury for the murders of her estranged husband's parents and aunt with a meal of beef Wellington that contained poisonous mushrooms. The incident happened in Leongatha, Victoria, and resulted in the deaths of three people, while a fourth individual survived after serious illness. Patterson is facing life imprisonment, and the sentencing date has not been set yet.
Key Facts
Erin Patterson was convicted of murdering three people and attempting to murder a fourth using poisonous mushrooms in a meal.
The incident occurred on July 29, 2023, during a lunch at Patterson's home in Leongatha, Victoria.
The meal served was beef Wellington containing death cap mushrooms, which are highly toxic.
Three of the guests died: Gail Patterson, Donald Patterson, and Heather Wilkinson.
Ian Wilkinson survived but was in a coma for several weeks.
Patterson claimed the deaths were accidental and showed medical tests to prove she also fell ill.
Patterson and her estranged husband, Simon Patterson, have two children who did not consume the food.
She was arrested in November 2023 and has been in custody since then.
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The UK government plans to update the law to allow parents who experience a miscarriage before 24 weeks of pregnancy to take bereavement leave. Currently, this right is available only for pregnancy losses after 24 weeks. The proposed change is part of the Employment Rights Bill, which is progressing through Parliament.
Key Facts
The law change will let parents take bereavement leave if they have a miscarriage before 24 weeks of pregnancy.
Parents currently only get bereavement leave if the pregnancy ends after 24 weeks.
The Employment Rights Bill, which includes this update, is moving through the UK Parliament.
Deputy Prime Minister Angela Rayner supports the change, emphasizing the need for time to grieve.
The law will ensure at least one week of leave, though the exact amount is still under discussion.
Labour MP Sarah Owen has advocated for this change, sharing her personal experience with miscarriage.
In March, business minister Justin Madders expressed support for bereavement leave related to pregnancy loss.
The Miscarriage Association's chief, Vicki Robinson, welcomed the proposed changes, highlighting their importance.
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The Bank of England is asking the public for ideas for new banknote designs. People can suggest themes like famous figures, animals, TV shows, or historic ships. The public has one month to submit their ideas.
Key Facts
The Bank of England is redesigning banknotes and wants public input.
People have a month to suggest themes or ideas for the new designs.
Options for themes include architecture, innovation, the arts, and more.
Popular suggestions involve animals, famous ships, and classic TV shows.
Historical figures have been on UK banknotes since 1970.
Notable suggested themes include the UK's maritime heritage and famous landmarks.
Ideas like using classic British TV and vintage railways have been proposed.
The Bank of England has not disclosed the number of entries received so far.
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Sean Combs was found not guilty of the most serious charges, which were racketeering conspiracy and sex trafficking. However, he was found guilty of two charges related to transporting people for prostitution.
Key Facts
A jury found Sean Combs not guilty of racketeering conspiracy charges.
He was also found not guilty of sex trafficking charges.
Combs was found guilty on two counts of transporting people for prostitution.
These legal outcomes could affect his business ventures.
The announcement was made on a radio program, "All Things Considered."
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The United States added 147,000 jobs in June, which was more than expected. The unemployment rate fell slightly to 4.1%, but there are still concerns that some private companies are careful about hiring new workers.
Key Facts
The U.S. added 147,000 jobs in June.
Analysts had predicted only 110,000 new jobs.
Government and healthcare sectors were the main sources of job growth.
The unemployment rate dropped to 4.1% from 4.2% in May.
Some private businesses are cautious about hiring new employees.
The Labor Department provided the job and unemployment figures.
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A BBC investigation found that many small businesses in the UK, including Gary Pride's graphic design business, are struggling due to high costs from renting phone equipment through long-term contracts. These contracts involve "unethical" sales practices, leading to financial stress for business owners.
Key Facts
Gary Pride is paying over £54,000 to rent five phones and software over 10 years.
His monthly bill increased from around £200 to over £550 after an "introductory offer" ended.
Pride feels the full cost of the contract was not clearly explained to him.
He was offered an upgrade and rebate but had to sign a new contract, adding more to his costs.
Exiting the agreement early would cost Pride £24,584.
A former 4Com manager claims the company ties customers into multi-year leases for financial gain.
Over 160 small business owners have reported similar issues with phone contracts to the BBC.
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President Donald Trump has called for Federal Reserve Chair Jerome Powell to resign, which he has done several times before. Trump criticized Powell for not lowering interest rates quickly, and this latest comment follows a recommendation for an investigation into Powell’s actions by a top housing official.
Key Facts
President Trump called on Jerome Powell, the Federal Reserve Chair, to resign.
Trump criticized Powell for not lowering interest rates fast enough.
Bill Pulte, a top housing official, suggested investigating Powell for political bias and misleading testimony.
The Federal Reserve has kept interest rates steady to assess the impact of tariffs.
Trump has called for Powell’s removal before, citing disagreements on economic policy.
US law allows the president to fire the Fed Chair only for specific misconduct, not policy decisions.
Powell's term as Federal Reserve Chair is set to last until May 2026.
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Rachel Reeves, the Chancellor, has faced setbacks in her plan to reduce government spending through welfare reforms, which were expected to save £5 billion by 2029-30. As the Autumn Budget approaches, Reeves has five potential options to address financial challenges, including waiting for economic growth, finding new savings, changing financial rules, or conducting financial checks less frequently.
Key Facts
Rachel Reeves planned to reduce welfare costs by £5 billion by 2029-30, but these savings have been reduced due to government concessions.
The government was relying on a £10 billion financial buffer, which is now almost gone after recent changes.
The Office for Budget Responsibility (OBR) halved its forecast for UK economic growth this year to 1%.
The UK recently reduced some tariffs with the US, though a final deal on UK steel tariffs is pending.
Reeves' options include waiting for economic growth, which is risky due to debt interest and tax receipt concerns.
A recent Spending Review gave extra funds to the NHS and defense, while other departments had cuts or minimal increases.
Reeves set financial rules requiring day-to-day spending funded by taxes and reducing debt relative to national income.
The International Monetary Fund (IMF) suggested that the OBR report should occur once a year to promote stability, potentially easing the government's financial pressure.
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