The BBC has released the list of its highest-paid stars for the 2025-2026 financial year. The earnings mainly cover presenters in news, sports, and radio shows, with some well-known names missing because their programs are produced by commercial or independent BBC arms.
Key Facts
Scott Mills was the top earner with a salary between £745,000 and £749,999, up from about £355,000 the previous year.
Greg James earned between £440,000 and £444,999 for his work on Radio 1 and Radio 4.
Alan Shearer earned around £390,000 to £394,999, a decrease from the previous year.
Laura Kuenssberg and Vernon Kay both earned between £405,000 and £409,999.
Gary Lineker earned between £325,000 and £329,999, consistent with previous years.
Some big stars like Claudia Winkleman and Graham Norton do not appear on the list because their shows are made by BBC Studios or other companies.
The salary list only includes presenters who earned more than £178,000 during the year.
Salaries are shown in bands rather than exact numbers, and changes compared to last year are indicated by symbols.
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Oil and gas prices rose sharply after the US launched a third night of military strikes against Iran. This increase pushed expectations higher for interest rate rises by European banks due to fears of inflation.
Key Facts
Brent crude oil price rose by up to 4.6% to $87.08 per barrel, its highest in over a month.
Oil prices had surged as much as 10% the day before, after President Trump announced a blockade of Iranian shipping.
European natural gas prices increased nearly 3%, reaching their highest level since early April.
UK natural gas prices rose 3.3%, marking a three-month high.
Financial markets now expect the Bank of England and European Central Bank to raise interest rates by 0.25% in September and possibly again by the end of the year.
President Trump said the Strait of Hormuz would remain open, with the US charging a 20% fee on ships passing through for security costs.
The Strait of Hormuz is crucial as about 20% of the world’s oil supply passes through it, and recent tensions have slowed traffic significantly.
UK government bond yields increased to their highest levels since May, while stock markets in Europe fell slightly amid the tensions.
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Major oil producers and countries are working to reduce their reliance on the Strait of Hormuz, a key route for global oil shipments, due to risks from conflicts like the ongoing U.S.-Iran war. New pipelines and port projects aim to provide alternative ways to export oil, though the strait remains important for some countries and products.
Key Facts
The Strait of Hormuz is a crucial route for about 20% of the world’s oil supply.
Ongoing conflict and tensions between the U.S. and Iran have increased concerns about disruptions in this waterway.
President Donald Trump announced plans to reinstate a blockade of the strait and to charge fees for shipments, though these charges have no legal backing.
These tensions caused oil prices to rise by over 9%, with Brent crude reaching $86.57 per barrel.
Analysts estimate that by 2027, new and existing pipelines could reroute over 45% of oil exports currently passing through the strait, growing to over 60% by 2028.
Two major pipeline projects are already under construction: one in the UAE and another in Iraq.
Some exports, like Qatar’s liquefied natural gas, cannot be rerouted from the strait.
The global oil market has adapted to past disruptions through reduced imports, oil reserves releases, and alternative shipping routes.
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The BBC is experiencing a faster-than-expected drop in licence fee payments, with over half a million fewer households paying in the past year. This decline is causing financial challenges, leading to job cuts and discussions about changing how the BBC funds itself, including possibly charging viewers who use streaming services.
Key Facts
The number of TV licences in the UK fell by 539,000 to 23.3 million, a bigger drop than the previous year.
BBC Director General Matt Brittin called this a “moment of real jeopardy” for the broadcaster’s funding model.
Fewer than 80% of UK households now pay the licence fee, even though 94% still use BBC services monthly.
The licence fee currently covers live TV and iPlayer viewers, but plans consider including streaming service users like Netflix and Disney+.
The BBC plans to save about £500 million over three years, which may result in up to 2,000 job losses.
Although the licence fee rose to £174.50 last year, the BBC posted a £121 million operating loss in 2025-26.
The fee income is about 25% lower than it was in 2017 when the current charter started.
The BBC’s top earners are mainly radio and TV presenters, with salary details disclosed in the annual report.
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Scott Mills was the highest paid BBC presenter in the last financial year before he was sacked following accusations of historical sexual offences. The BBC's latest annual report also showed a drop in TV licences in force and changes in salaries among other top BBC stars.
Key Facts
Scott Mills earned about £745,000 hosting the BBC Radio 2 breakfast show before his exit in March.
He was accused of historical sexual offences but was not charged after cooperating with a police investigation.
The BBC's annual report shows a drop of 539,000 TV licences in the last financial year and a total decline of 2 million in five years.
Other top earners included Greg James, Stephen Nolan, Laura Kuenssberg, Vernon Kay, and Alan Shearer.
Gary Lineker’s salary fell significantly after leaving BBC two months into the financial year.
Scott Mills’ salary nearly doubled from the previous year, rising from £355,000 to £745,000.
Zoe Ball, Mills’ predecessor, earned over £1.36m in 2019 but her pay decreased before she left BBC Radio 2.
The former single host role of Gary Lineker on Match of the Day is now split between three presenters, all earning significantly less individually than Lineker.
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A couple left New York City and bought a house in rural Italy for $13,000. They share why they moved, how life is different in a small mountain town, and how living cheaper abroad compares to their old life.
Key Facts
A couple from New York City bought a house in Italy for $13,000.
The house is in a small, rural mountain town in Italy.
They moved to live a simpler and lower-cost lifestyle.
They discussed their reasons and adjustments to the new life.
The story also includes explanations about SpaceX joining Nasdaq index funds.
There is mention of a TikTok tax tip that is not true.
The information was shared on the show Money Moves with Jill Schlesinger on CBS News.
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Toyota is expanding its operations in Texas, influenced by trade policies like tariffs and the USMCA agreement. A strong domestic auto industry with reliable supply chains supports the country’s security and economy.
Key Facts
Toyota is increasing its presence in Texas.
Tariffs (taxes on imported goods) play a role in this decision.
The USMCA (United States-Mexico-Canada Agreement) trade deal encourages domestic auto production.
A strong auto industry in the U.S. helps national security.
Reliable supply chains in the auto sector support the economy.
Domestic manufacturing reduces dependence on foreign suppliers.
The expansion aligns with economic and security goals.
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Manufacturers are losing a lot of money—about $1.4 trillion a year—because their machines stop working unexpectedly, often due to missing parts. This has changed how companies buy supplies, focusing more on whether parts are available quickly rather than just their price, to avoid costly production delays.
Key Facts
The world’s 500 largest companies lose around $1.4 trillion every year from unexpected machine downtime.
Downtime at large car factories can cost about $2.3 million per hour, which is more than $600 every second.
Even companies making quick-selling consumer goods lose about $36,000 per hour when production stops.
Manufacturers now care more about having parts ready and available than just getting a low price.
KHK USA Inc. supplies many types of gears and offers fast access to parts, engineering help, and stocked products.
The average wait time to get production materials is still long—about 79 days in April 2024, although it is better than the previous peak of 100 days in 2022.
Manufacturers aim for consistent parts that won’t force redesigns or cause problems later because quality varies with price.
Strong supplier relationships help find alternative materials or solutions when needed, which can keep production moving.
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The article explains that current methods used to measure company value have not kept up with changes in the economy, especially the rise of intangible assets like brand reputation and intellectual property. It argues that artificial intelligence cannot fully solve valuation challenges because valuing a company requires judgment and understanding beyond data analysis.
Key Facts
Many businesses and investors are excited about artificial intelligence (AI) and its role in business.
Traditional valuation methods focus on physical assets and predictable profits, which no longer reflect today’s economy.
Intangible assets now make up over 90% of the market value of companies in the S&P 500 index.
Valuation depends on assumptions that vary and can lead to inconsistent and unclear results.
AI can analyze data well but cannot form opinions or judgments needed for accurate valuation.
Value today often lies in things that are hard to measure, like employee knowledge and brand strength.
Private companies are staying private longer, reducing the availability of public data for valuations.
New approaches are needed to value modern companies accurately in a changing economic landscape.
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Diabetic foot ulcers (DFUs) are wounds that heal very slowly and can lead to serious problems like amputation. New treatments focus on reducing pressure on the wound while allowing patients to stay active, which is helping the wound care industry grow quickly.
Key Facts
Diabetic foot ulcers happen because of poor blood flow, nerve damage, or constant pressure on the foot.
These wounds take a long time to heal and can get worse if not treated properly.
Traditional advice has been to avoid walking to let the wounds heal, but this is hard for many people in daily life.
The wound care industry is now focusing on "functional offloading," which means reducing pressure on wounds without stopping movement.
John Cleese, an actor and comedian, experienced a diabetic foot ulcer for three years before finding pressure-relief treatment.
Dr. Jason Hanft developed a device called Foot Defender that helps reduce pressure on wounds while allowing people to move.
This device offers an alternative to total bed rest or nonremovable casts, which are often hard to manage.
Functional offloading devices are part of one of the fastest-growing areas in wound care products.
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In June, China exported over 1 million cars for the first time as its total overseas shipments rose 27%. Chinese car brands are gaining market share in Europe, increasing the trade surplus with the EU and causing pressure on European car makers. China's exports are also boosted by rising chip sales linked to global AI demand.
Key Facts
China’s car exports surpassed 1 million units in June for the first time.
Overall exports from China increased by 27% compared to the previous year.
China’s trade surplus with the EU reached €900 million per day in early 2026, totaling 1.225 trillion yuan (£135 billion).
Chinese electric and hybrid vehicle exports avoid EU tariffs introduced in 2024.
European car company Volkswagen plans to reduce its workforce by up to 100,000 amid restructuring.
China’s exports of integrated circuits (chips) rose to 32 billion units, driven by global AI demand.
The ratio of China’s exports to total manufacturing sales hit 24%, the highest since joining the World Trade Organization in 2001.
Suppressed domestic demand in China partly explains the strong focus on exports.
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A new WalletHub report ranked 300 U.S. cities to find the best and worst places for first-time homebuyers. Berkeley, California, was rated the worst city due to its high housing costs, poor market conditions, and lower quality of life. Many of the hardest cities to buy a first home in are located in California, while Florida and Arizona offer more affordable options.
Key Facts
WalletHub used 22 factors like housing costs, taxes, crime rates, and job market strength to rank cities.
Berkeley, California, ranked last among 300 cities with a low score in affordability, housing market, and quality of life.
Nine of the 10 worst-ranked cities for first-time buyers are in California; Anchorage, Alaska, is the only non-California city in the bottom 10.
High home prices and mortgage rates have reduced first-time buyers to 21% of the market, down from a historical average of 40%.
The average 30-year mortgage rate was 6.49% as of early July 2024.
New York City also scored low, ranking 288th due to high costs and market challenges.
Cities in Florida and Arizona were ranked more favorably for first-time homebuyers.
The study looked only at city limits, not the greater metro areas, and categorized cities by population size.
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Rent prices in Manhattan reached a new high of $5,295 per month in June, according to data from real estate company The Corcoran Group. Other boroughs like Brooklyn also saw record rent increases, driven by high demand and limited available apartments.
Key Facts
Manhattan's median rent hit $5,295 in June, surpassing the previous record of $4,995 from November.
Brooklyn's median rent increased 8% year-over-year to a record $4,350 per month.
The number of available rental listings in Manhattan fell 16% compared to last year, while Brooklyn’s listings remained almost unchanged.
Apartments in Manhattan stayed on the market for an average of 36 days, 29% faster than a year ago; in Brooklyn, it was 37 days, 30% faster.
High demand and low supply are causing rents to rise quickly in New York City.
New York City had the highest average rent among U.S. cities in June, at about $4,107 per month.
Other expensive rental markets include San Francisco, Jersey City, and Boston.
Officials warn that the housing shortage in NYC is severe and requires stronger efforts to fix.
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Removing the island’s goods and services tax (GST) from food would cost £14.4 million a year, according to the treasury minister. The tax removal would mainly benefit wealthier islanders, as they spend more on food, while lower-income households would save less.
Key Facts
GST currently applies to food on the island.
Removing GST from food would reduce government revenue by £14.4 million yearly.
Wealthier islanders would benefit more because they spend more on food.
Lower-income households would save around 12% annually, while the richest could save 28%.
When GST was introduced, the government increased personal tax allowances and support payments to help residents.
Officials say a broad GST with targeted support helps people best manage food costs.
A protest happened in Guernsey against a proposed new 3% GST, which might start in 2028.
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New York Governor Kathy Hochul has announced a pause on new large-scale data centers in the state for up to one year. This pause aims to allow time to create rules that protect the environment, the energy system, and electricity costs for residents.
Key Facts
New York is the first state in the U.S. to impose a statewide freeze on new hyperscale data centers.
The freeze will last for up to one year.
This pause stops state approval of environmental permits for new large data centers.
The goal is to develop a plan to protect the environment and the state’s power grid.
Officials want to prevent sharp increases in electric bills for New Yorkers.
Hyperscale data centers are very large facilities that store and process vast amounts of digital information.
The freeze gives New York more time to balance technology growth with environmental and energy concerns.
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South East Water must pay £30.5 million after failures caused water supply problems for hundreds of thousands of homes in Kent and Sussex. The company’s shareholders will cover the cost, not the customers, and the payment includes support to help customers affected by the disruptions.
Key Facts
The water supply interruptions affected over 286,000 people between 2020 and 2023.
More recent supply issues occurred between November 2025 and January 2026, leaving up to 70,000 homes without water.
Customers could not use tap water, shower, or flush toilets during these outages.
Schools closed and some people had to miss work due to childcare problems caused by the water cuts.
Ofwat, the water regulator, said the company failed to communicate properly and did not provide enough bottled water during the outages.
The £30.5 million payment will fund free water butts, early smart water meters for businesses, and on-site storage to manage high demand.
An independent monitor will be hired to check South East Water’s improvement plans, with the company paying for this separately.
South East Water accepted the failures and apologized for the disruptions and the inconvenience caused.
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South East Water will pay a £30.5 million penalty after investigations found it failed to provide reliable water supply and breached its licence. The regulator Ofwat said the fine covers multiple supply interruptions affecting hundreds of thousands of customers between 2020 and 2023.
Key Facts
South East Water faced three separate investigations by water regulator Ofwat.
The company caused water supply problems for over 286,000 people from 2020 to 2023.
Additional supply issues occurred between November and January, affecting up to 70,000 homes in Kent and Sussex.
Moody’s lowered South East Water’s credit rating in May, causing a licence breach.
Ofwat imposed a £30.5 million penalty, including a previously proposed £22 million fine.
An independent monitor will now oversee South East Water’s improvement efforts.
Ofwat expects the company to make lasting improvements to avoid future supply interruptions.
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Peterborough City Council is hosting a pop-up event on July 31 where people can donate or pick up school uniforms and prom dresses for free. The event aims to help families save money and promote recycling by reusing clothing.
Key Facts
The pop-up shop will open on July 31 from 12:00 to 17:00 at 31 Bridge Street, near the Town Hall.
Families can bring clean, good-quality school uniforms and prom dresses to donate.
Donated clothing can be swapped or taken for free by those who need it.
The event supports the idea of reducing waste by reusing and recycling clothes.
Peterborough City Council held a similar event last summer and wants to continue helping local families.
The council believes this helps reduce clothing waste and protects the environment.
The event aims to ease the financial burden on families preparing for the new school year.
Local council members encourage participation to support the community and sustainable living.
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A U.S. trade expert says the United States, Mexico, and Canada should have three-way talks to finalize a trade agreement. The expert also says that the longer it takes President Trump to reach a deal, the more it may strengthen China’s position.
Key Facts
The United States, Mexico, and Canada are trying to reach a cross-border trade deal.
A U.S. trade expert, Harry Broadman, recommends trilateral talks involving all three countries.
Harry Broadman is a former lead U.S. international trade negotiator.
The trade talks have been delayed and are not yet finalized.
The expert warns delays could make the U.S. appear weaker, especially to China.
President Trump is leading the effort to negotiate the trade deal.
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The British Beer and Pub Association (BBPA) says that strict UK rules on what counts as alcohol-free beer are stopping pubs and brewers from growing the market. They want the government to raise the alcohol limit from 0.05% to 0.5%, which is common in other countries, to encourage more sales and investment in no- and low-alcohol beers.
Key Facts
Over 64 million pints of low- and no-alcohol beer are expected to be sold in the UK this summer, 8 million more than in 2025.
The UK’s current legal limit for alcohol-free beer is 0.05% alcohol by volume, much lower than the 0.5% limit used in many other countries.
Making beer with zero alcohol but keeping its taste and smell is very difficult and costly.
No- and low-alcohol beer sales have grown by 870% in the UK since 2013.
Brewers and the BBPA believe raising the alcohol limit to 0.5% would boost investment and expand the market.
The trend is driven by younger people drinking less alcohol and the popularity of moderation during events like hot weather and football matches.
The BBPA’s chief executive says changing the definition would help keep the UK competitive internationally and offer more choices to consumers.
Lucky Saint, a no-alcohol beer brand, saw increased sales during the World Cup, showing demand for these drinks during social occasions.
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