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Hundreds of UK employers — including British Gas owner Centrica, Euro Garages, and Holland & Barrett — have been fined for failing to pay staff the national minimum wage. The Department for Business and Trade (DBT) found nearly 500 companies underpaid 42,000 workers, leading to more than £10 million in fines and £6 million in…
CNN is making another push into the subscription streaming market with the launch of “CNN All Access,” a full-service news hub that combines live video, on-demand content, and premium articles. The platform, set to debut in the U.S. on October 28, will cost $6.99 per month or $69.99 per year, with an introductory offer of…
United Airlines CEO Scott Kirby has cautioned that the ongoing U.S. government shutdown, if extended, could soon start to dent consumer confidence and hurt airline bookings. Speaking during the company’s earnings call on Thursday, Kirby said the carrier has not yet felt a direct impact, but warned that “each passing day increases the risk to…
As US pressure mounts over its energy ties with Moscow, India faces a tough choice — balancing economic pragmatism with diplomatic realities. After President Donald Trump threatened 50% tariffs on Indian goods for continuing to buy Russian oil and claimed that Prime Minister Narendra Modi had agreed to phase out such imports, both New Delhi…
The J.M. Smucker Co. has filed a federal lawsuit in Ohio against Trader Joe’s, accusing the grocery chain of copying its popular Uncrustables sandwiches in both design and packaging. Smucker alleges Trader Joe’s new frozen peanut butter and jelly sandwiches are nearly identical to Uncrustables, featuring the same round, crustless shape and crimped edges resembling…
Australia’s Reserve Bank (RBA) has detected early signs that financial conditions are loosening. This comes after three interest rate cuts this year, bringing the cash rate down to 3.6%. In a speech in Sydney, Assistant Governor Christopher Kent said credit access for households and businesses is improving. He also noted that bank funding costs, business…
Wall Street saw a surge in profits during the third quarter thanks to a booming prime brokerage business. Major banks lent cash and securities to hedge funds executing large trades. JPMorgan, Morgan Stanley, Bank of America, Goldman Sachs, and Citigroup all reported strong results. JPMorgan’s equity market revenue rose 33%, and Morgan Stanley’s equities revenue…
The head of Germany’s Savings Banks Association (DSGV) says the country’s Mittelstand—its small and medium businesses—has the financial strength to invest more. But they hold back because reforms are lagging. Ulrich Reuter told Reuters the Mittelstand boasts solid equity, stable finances, and ready liquidity. He argued that what’s missing are structural changes to boost confidence…
A woman who says she was abused by Jeffrey Epstein has filed lawsuits against Bank of America and Bank of New York Mellon (BNY Mellon). She claims the banks knowingly enabled Epstein’s sex trafficking by handling his finances. She is identified in court papers as Jane Doe. Her lawyers say she became dependent on Epstein…
Renault and Geely’s joint venture, Horse Powertrain, is gaining traction as the shift to electric vehicles (EVs) hits bumps. The company now produces over 8 million engines and transmissions annually, serving automakers like Renault, Mercedes, and Volvo. Horse plans to reach €15 billion in yearly revenue by 2029, an 80% jump from 2024. Their goal…
