Rolls-Royce has agreed to supply 18 engines for nine new Airbus A350-1000 planes for Philippine Airlines. The deal includes ongoing engine maintenance and is worth hundreds of millions of pounds, supporting jobs in the UK.
Key Facts
Rolls-Royce will provide engines for nine Airbus A350-1000 aircraft used by Philippine Airlines.
The deal covers 18 engines and includes a maintenance package to keep the engines running well.
The contract is worth hundreds of millions of pounds, though the exact amount is not announced.
The engines involved are Trent XWB-97 models, designed to use 50% sustainable aviation fuel, with plans to use 100% in the future.
The order was first announced in July at the Farnborough International Airshow as a memorandum of understanding.
The UK government highlighted that this deal supports good quality jobs in Derby (Rolls-Royce site) and Broughton (where Airbus makes wings).
Philippine Airlines had made a similar order for Trent XWB-97 engines earlier in 2023.
The deal strengthens the long-term relationship between Rolls-Royce and Philippine Airlines.
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The article offers advice on what to consider when buying travel insurance. It highlights important points that can help travelers choose the right coverage for their trips.
Key Facts
Travel insurance helps cover costs if something goes wrong during a trip.
It is important to check what the insurance covers, like medical emergencies or trip cancellations.
Some policies may not cover certain activities, like extreme sports.
Travelers should compare prices and coverage from different companies.
It is useful to read the terms and conditions carefully to understand limits and exclusions.
Buying travel insurance early, soon after booking a trip, can offer better protection.
Customers should keep copies of their insurance documents while traveling.
Knowing the claims process helps travelers get money back if needed.
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Vistry Group, a large British housebuilder, cut its profit forecast after reporting big losses in the first half of the year. The company faces challenges like unsold homes, rising costs, and weaker sales, and plans to restructure and focus on building fewer homes in certain regions to improve its finances.
Key Facts
Vistry had a loss before tax of £661.3 million in the first six months, down from a £40.9 million profit last year.
The company now expects a full-year adjusted profit before tax of £165 million, after an adjusted loss of £83.3 million in the first half.
It has £600 million worth of unsold homes, down from which it discounted prices by an average of 7.1% to reduce the stock.
Vistry completed 6,304 homes in the first half, 8% fewer than the previous year.
The company’s debt rose to £468.8 million from £293.1 million.
Rising costs, partly due to fuel price increases linked to the Iran war, and weak sales are pressuring the company.
Vistry received £350 million in government funding to build 3,000 affordable homes under a national support program.
The new CEO, Adam Daniel, plans to reduce the land bank and simplify operations, focusing more on northern and central England.
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A former senior employee at the National Gallery of Victoria is accused of stealing $8 million by buying mobile phones with gallery funds and selling them for personal profit. The state’s corruption watchdog has charged him with theft and misconduct, and he will appear in court in October.
Key Facts
The employee is accused of stealing $8 million over six years by buying phones with gallery money.
He allegedly sold the phones to make personal money.
Charges include seven counts of theft and one count of misconduct in public office.
The alleged theft happened between September 2019 and September 2025.
The Independent Broad-based Anti-corruption Commission (IBAC) began investigating in September last year.
The employee’s job was terminated in September 2025 after the fraud was reported.
The gallery reported the case to Victoria police and IBAC.
The gallery has put new controls in place to prevent future fraud.
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Sales of Chinese hybrid cars in the European Union have grown sharply in recent years, especially after anti-subsidy tariffs were placed on Chinese electric cars. This growth has raised concerns in Brussels, leading the EU to ask China to reduce hybrid car exports or face import limits.
Key Facts
In 2022, the EU sold 659 Chinese-made fully hybrid cars, but 160,662 were sold in the first seven months of 2024.
Sales of Chinese plug-in hybrid cars increased from 56,706 in 2022 to 217,764 in early 2024.
Hybrids now make up nearly 37% of the EU car market, while electric cars account for just over 21%.
Chinese brands BYD, Chery, Leapmotor, and Geely are growing fast in the EU market, with Geely being the top-selling Chinese brand.
Chinese manufacturers are outselling Tesla in the EU this year.
Volkswagen remains the biggest car seller in Europe with 2 million cars sold in eight months.
EU officials are concerned about a €1.18 billion daily trade deficit with China.
EU and Chinese trade officials plan talks in October to ease tensions, while President Donald Trump and President Xi Jinping will meet soon to discuss trade issues related to car industry supplies.
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Wakefern Food Corp. has recalled certain jars of Wholesome Pantry Organic Unsweetened Apple Sauce because the FDA found high levels of patulin, a mold toxin, in the product. The applesauce should not be eaten, and customers can return it for a refund or replacement.
Key Facts
The recall affects 23-ounce jars of Wholesome Pantry Organic Unsweetened Apple Sauce with UPC 04119005677 and a best-by date of June 16, 2027.
Patulin is a toxin often found in apples and apple products when apples are bruised or damaged.
The FDA sets safety limits for patulin, and the recalled product exceeded these limits.
No illnesses or injuries related to the applesauce have been reported so far.
The applesauce was sold in stores such as ShopRite, Price Rite Marketplace, The Fresh Grocer, Gourmet Garage, and Fairway Market.
Wakefern operates over 380 supermarkets in several states, but only select jars are recalled.
Customers with questions can call 1-800-746-7748.
No other products besides the listed applesauce jars are part of the recall.
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Diesel prices in Australia are rising and could go over $3 a litre if President Donald Trump stops US diesel exports amid struggles in talks with Iran. Australia depends on diesel imports, so any cut in supply would increase fuel costs, which could also lead to higher prices for goods and more interest rate hikes.
Key Facts
Diesel prices in Australia have risen nearly 40 cents per litre since early April, with prices approaching $3 per litre in some cities.
Australian diesel relies heavily on imports, with over 18.4 billion litres imported in the first seven months of 2026.
The US is a significant exporter of diesel, shipping over 1.5 million barrels a day globally since the war in the Middle East began.
President Trump is considering banning US diesel exports to lower prices at home before the November midterm elections.
An export ban could cause diesel prices in Australia to rise above $4 per litre within weeks, according to one analyst.
Australia’s diesel stockpiles have decreased from 39 days’ supply in July to 31 days in recent months.
Conflicts in the Middle East and attacks on Russian supplies have reduced global diesel availability, pushing prices higher.
The Australian government temporarily reduced fuel taxes in March but has not made further excise cuts despite rising prices.
High fuel costs threaten industries like farming and mining and could lead to higher prices across food, manufacturing, and transport sectors.
The Reserve Bank of Australia is expected to raise interest rates to 4.6%, partly due to rising fuel costs.
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Australia’s unemployment rate rose to 4.6% in August, the highest since the pandemic, as more people looked for work. Many Australians are taking second jobs to handle rising living costs and prepare for higher mortgage payments, while economists expect the Reserve Bank to raise interest rates again soon.
Key Facts
Unemployment in Australia increased from 4.5% to 4.6% in August.
The number of employed people grew by 39,000, mostly due to more part-time jobs.
Full-time employment fell by 6,000 in the same period.
More people are entering the job market, raising the unemployment rate despite higher employment numbers.
Over 1 million Australians now hold more than one job, a record high.
The share of people with second jobs is 6.9%, about 1% higher than before inflation rose in 2022.
Inflation is 3.5% and remains a concern for the Reserve Bank.
The Reserve Bank is expected to increase its cash rate (interest rate) from 4.35% to 4.6%, the highest in almost 15 years.
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Rising fuel prices are affecting businesses and customers in Hayle, Cornwall. Higher fuel costs make delivering goods more expensive and reduce how often people travel, which impacts shops, tourism, and daily life.
Key Facts
Petrol prices in the area reached 161.3p per litre between July and August, the highest since November 2022.
Diesel prices are expected to rise above £2 per litre soon.
A flower shop has reduced its delivery area due to increased fuel costs.
Some customers are visiting hairdressers less often because they are cutting back on travel.
Tourism businesses say some visitors cancel trips because traveling now costs more.
A surf shop reports that higher fuel prices raise the cost of importing products.
Local people say fuel costs also create financial pressure for everyday travel, like commuting.
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Some charity shops run by hospices are receiving many donations that are dirty, broken, or incomplete, which they cannot sell. These unsellable items create extra costs, with some charities spending tens of thousands of pounds each year to dispose of waste.
Key Facts
St Barnabas Hospice in Lincoln and Dove House Hospice in Hull spent a total of £70,000 on waste disposal last year.
Unsellable items include damaged toys, stained clothing, and objects missing parts or safety marks.
St Barnabas Hospice’s flagship shop has raised over £2 million since 2022 but still faces waste disposal costs.
Dove House Hospice relies heavily on donations, with only 13% of its £12 million annual costs covered by government funding.
Both hospices operate many shops (St Barnabas: 23 shops; Dove House: 35 shops) that depend on donations for income.
Waste costs come from items that cannot be recycled or resold, such as broken crockery and dirty soft toys.
Dumping items outside shops, known as fly tipping, is a common problem causing more waste.
The Charity Retail Association reports that nearly all its members face regular issues with unwanted dumped items.
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The Victorian premier announced that if Labor wins the November election, the state will change food safety laws to allow dogs inside pubs, a practice common in the UK and Europe. The government will leave it up to each venue to decide if dogs are permitted, aiming to benefit the economy and create friendlier public spaces.
Key Facts
Currently, dogs in Victoria are only allowed outside in some venues under limited conditions.
Labor plans to overturn the ban on dogs inside pubs if re-elected.
Individual pubs can decide whether to allow dogs inside.
The change is inspired by pet-friendly pub practices in Europe and the UK.
The government will consult on where dogs can be allowed.
The proposal also includes scrapping rules for pubs to stay open until 3 a.m. and speeding up liquor license approvals.
Pet owners say having dogs in pubs makes outings more enjoyable and inclusive.
The Australia Hotels Association supports clearer pet guidelines to help venues and customers.
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The UK loses up to £6.5 billion each year in exports to the EU because it lacks an agreement to avoid duplicate product testing after Brexit. This affects industries like cars, electronics, and medicines, causing extra costs and fewer sales.
Key Facts
UK exports to the EU could be £3.7bn to £6.5bn higher yearly with a mutual recognition deal.
The loss equals about 0.18% of the UK’s annual income.
Without this deal, some UK companies stopped selling to or set up inside the EU.
The biggest losses are in motor vehicles (£2.48bn-£3.42bn), electronics (£1.17bn-£1.67bn), and pharmaceuticals (£740m-£820m).
The IPPR thinktank recommends the UK reopen talks with the EU to reduce costs and uncertainty.
A “dynamic alignment” deal would mean the UK keeps product rules similar to the EU to allow easier trade.
Covid, global supply changes, sanctions on Russia, and energy issues do not fully explain the export drop.
Political parties like the Liberal Democrats want to rejoin the EU single market to improve trade.
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Mortgage rates for a 30-year fixed loan in the U.S. have risen above 7% for the first time since May 2024. This increase is connected to rising inflation and concerns about the war involving Iran.
Key Facts
The 30-year fixed mortgage rate in the U.S. surpassed 7%.
This is the first time rates have been this high since May 2024.
Rising inflation is one reason for the increase in mortgage rates.
The conflict involving Iran is also affecting mortgage rates.
Higher mortgage rates can lead to more expensive home loans.
Mortgage rates influence how much people pay each month for buying a house.
The news report was featured on CBS News with business contributor Javier David.
The information was accessible through the CBS News app and website.
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Woodside Energy, an oil and gas company, sponsors the Fremantle Dockers AFL team mainly to build goodwill with the community and policymakers. This sponsorship aims to create a positive image rather than sell products, but it has faced criticism due to Woodside’s role in fossil fuel emissions and climate change.
Key Facts
Woodside Energy sponsors the Fremantle Dockers AFL team by putting its logo on the team's jersey.
The company does not sell products directly to sports fans, so the sponsorship is about community goodwill.
Fossil fuel companies like Woodside use sponsorships to gain public support and help with government and local approvals for projects.
Similar sponsorship examples include Bravus (Adani’s Australian business) sponsoring the North Queensland Cowboys near its coalmine.
The sponsorship has sparked criticism and campaigns calling for Woodside to drop its logo due to its environmental impact.
Woodside and Fremantle claimed a shared “focus on sustainability” when renewing their sponsorship, though Woodside recently dropped some emissions targets.
Woodside also sponsors many youth programs and community activities, including Surf Life Saving WA’s “nippers” program for children.
Climate groups warn that fossil fuel sponsorships in sports and schools expose children to industry influence, even when organizations rely on this funding.
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Federal Reserve Governor Michael Barr said the U.S. central bank will probably increase interest rates again to control ongoing inflation. The Fed raised rates last week for the first time in over three years.
Key Facts
Michael Barr is a governor at the Federal Reserve and part of the rate-setting committee.
The Federal Reserve recently raised interest rates for the first time in more than three years.
The decision to raise rates was unanimous among the committee members.
The goal of raising interest rates is to reduce inflation, which means slowing down price increases.
Barr indicated that more rate hikes are likely needed in the future.
Interest rates affect borrowing costs for consumers and businesses.
Controlling inflation helps maintain the overall health of the economy.
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A Texas farmer named Steve Cargil leases part of his land for a large solar farm, which pays him $200,000 a year and helps support his farm during tough times. Texas has become the largest solar power producer in the US, with solar energy now often supplying about one-third of the state's electricity needs.
Key Facts
Steve Cargil leases 600 acres of his farmland to a solar energy company called OCI Energy.
The lease pays Cargil $200,000 annually, helping him financially during droughts and rising farming costs.
Texas recently became the top solar electricity producer in the US, surpassing California.
In March of last year, Texas generated more electricity from solar than from coal for the first time.
Solar power in Texas now regularly provides about one-third of the electricity demand during peak hours.
Texas has a separate power grid, making solar farms cheaper and quicker to connect.
Texas’s population grew by nearly 16% from 2015 to 2025, increasing electricity demand.
Solar energy costs about $40 per megawatt hour, much cheaper than new coal power at nearly $90 per megawatt hour.
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The price of protein supplements, especially whey protein, has risen sharply in recent years, with some products now costing nearly three times more than in 2020. This is due to higher demand and supply challenges, causing consumers and manufacturers to seek alternatives.
Key Facts
Amarpreet Singh’s usual 4.5kg whey protein bag cost £60 in 2020, £120 in 2023, and now costs about £170.
Protein products have become popular beyond bodybuilders, including students and people focused on diet and weight loss.
New weight-loss drugs increase demand for protein, as users need more to maintain muscle while eating less.
Prices for whey protein in Europe rose by 130% compared to last year and more than four times compared to three years ago.
Other dairy proteins also became more expensive, with some increasing by 60-80% in one year.
Producing high-protein whey is costly and requires special equipment, making it hard for manufacturers to quickly increase supply.
Some companies are changing recipes or using cheaper protein sources to manage rising costs.
The UK sports nutrition company Warrior raised its whey protein price from £12.50 to £17.99 but still subsidizes some costs.
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Six Flags is facing three new lawsuits claiming that its X2 roller coaster at Magic Mountain in Southern California caused brain injuries to more than 100 riders. The lawsuits allege that the ride may have unsafe conditions leading to these injuries.
Key Facts
Six Flags has been sued three times over the X2 roller coaster.
The lawsuits claim that over 100 riders suffered brain injuries from the ride.
The roller coaster is located at Six Flags Magic Mountain in Southern California.
The nature of the injuries reportedly involves the brain, suggesting serious health concerns.
Legal action suggests potential safety issues with the X2 roller coaster.
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The yield on the 10-year U.S. Treasury bond reached its highest level since 2007, closing at 5.11% on Wednesday. This increase happened during a market sell-off linked to concerns about the war in Iran and growing U.S. government debt.
Key Facts
The 10-year U.S. Treasury bond yield hit a 19-year high on Wednesday.
The yield closed at 5.11%, rising about 0.14 percentage points from Tuesday.
Rising yields mean investors expect higher returns on government debt.
The market sell-off is partly driven by fears about the conflict involving Iran.
Growing U.S. government debt is also influencing investor behavior.
Higher yields can affect borrowing costs for the U.S. government and consumers.
The 10-year Treasury yield is an important benchmark for many financial products.
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Several American business and energy groups asked President Trump not to ban diesel exports. They sent a letter warning that such a ban could harm the economy while President Trump considers the idea to reduce fuel prices.
Key Facts
Over 30 business, energy, and manufacturing groups signed a letter to President Trump.
They urged him to reject calls for a diesel export ban.
President Trump is thinking about the ban to help lower rising fuel costs.
The groups believe banning diesel exports could hurt the economy.
Diesel is a type of fuel used in trucks, machines, and some cars.
Export bans limit how much of a product can be sold to other countries.
The letter came out on a Wednesday.
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