The Dutch central bank moved 86 tonnes of gold from the US and Canada to London because of rising political tensions. This move makes it easier and faster for the bank to access and use its gold in a crisis.
Key Facts
The Dutch central bank moved 86 tonnes of gold from the US and Canada to London.
The total Dutch gold reserves are 612.4 tonnes, valued at about €72.2 billion ($83.7 billion) at the end of 2025.
Before the move, 31.3% of gold was in New York, and 19.7% was in Ottawa; afterwards, each held 18.5%.
Gold stored in London increased from 18.1% to 32.1%, while 30.8% remains in the Netherlands.
The transfer happened between March and August and was done by a mix of physical transportation and buying/selling gold.
Moving gold to London is seen as better because London’s market is larger and easier for trading or lending gold during crises.
Some experts say political issues in the US influenced the decision to move gold reserves to London.
Other central banks, like Germany’s Bundesbank, have considered such moves but kept their gold in New York for now.
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Almost half of households in Britain live in areas where economic growth is not improving their quality of life, with the north of England, Midlands, and Wales having less spending power than average. Meanwhile, London and the South East have higher spending power, showing a clear North-South divide in wealth and living standards.
Key Facts
46% of UK households (about 12.5 million) live in regions where economic growth does not increase spending power.
Spending power measures income left after taxes and housing costs, adjusted for household size.
The North East, North West, and Yorkshire & the Humber regions have spending power significantly below the national average.
The South East has spending power 9% above the average, with London also above average.
Within regions like London, there are wide differences; for example, Richmond’s disposable income is almost double that of nearby Hammersmith and Fulham.
Scotland and the South West are exceptions, with spending power slightly above the national average due to lower housing costs and smaller households.
The report suggests that devolution (shifting power from national to local governments) should allow local areas to keep more revenue and have more control over resources.
Success should be measured by whether economic growth improves prosperity and opportunities, not just by growth numbers.
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Victoria Beckham’s fashion company has made a profit for the first time after nearly 20 years. The business earned £7.3 million in operating profit in 2025, with sales rising 15% to £129.8 million, helped by expanding into beauty products.
Key Facts
Victoria Beckham started her fashion company almost 20 years ago.
In 2025, the company reported an operating profit of £7.3 million.
Sales increased by 15% to £129.8 million in 2025.
The company was once losing tens of millions of pounds and faced big debts.
David Beckham financially supported the business in difficult times.
Private equity firm Neo Investment Partners helped restructure the company from 2017.
Launching a fashion brand usually takes 3 to 5 years to become profitable.
The beauty product range, launched in 2019, now makes up about two-thirds of the brand’s revenue.
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Chevron, a large oil company, will invest $7 billion in oil projects in Venezuela. This decision follows a recent agreement between the U.S. government and the Venezuelan government to allow more oil production cooperation.
Key Facts
Chevron plans to spend $7 billion to increase oil production in Venezuela.
The goal is to double Chevron’s oil output in the country.
The investment comes after the U.S. and Venezuela reached a deal concerning oil cooperation.
The deal was made during the administration of President Donald Trump.
Chevron is one of the biggest oil companies in the world.
Venezuela has large oil reserves that have been underused due to political and economic issues.
The agreement allows U.S. companies to work more freely with Venezuela’s oil industry.
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Some recent business school graduates are borrowing large sums of money to buy existing companies and become their CEOs, instead of working their way up in a company or starting a new business. This method, called entrepreneurship by acquisition or search-fund investing, is growing in the US, with many investors supporting young buyers to lead established firms.
Key Facts
Ania Aliev, 27, bought a medical equipment company soon after graduating with an MBA.
She became CEO and led a takeover that doubled the company's size within a few years.
Entrepreneurship by acquisition involves creating a "search fund" to attract investors and buy a business.
In 2023, 94 new search funds were started in the US, with $682 million invested over 2022-2023.
Specialized investment firms back young entrepreneurs buying companies this way.
A Yale School of Management report says search funds often provide strong financial returns.
Some employees welcome new owners and growth, while others may leave or be made redundant.
For sellers, selling to young buyers is a way to retire or move on from the business.
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The UK government named over 600 employers, including B&Q and Five Guys, for paying workers less than the minimum wage. These businesses have paid back £4 million to staff and received £7 million in penalties.
Key Facts
More than 600 UK businesses were found paying below the minimum wage.
A total of £4 million was paid back to workers who were underpaid.
The companies also faced £7 million in fines.
B&Q underpaid 4,530 workers by over £456,000 due to geographical allowance issues.
Five Guys underpaid 3,699 staff by more than £54,000 because of payroll technicalities.
Some NHS trusts and care providers were also on the list for underpaying staff.
The minimum wage rates are £12.71 for people 21 and older, £10.85 for 18-20 year olds, and £8 for under 18s and apprentices.
Government officials stress that underpaying staff is illegal and encourage employers to check their payroll systems.
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Treasury Secretary Scott Bessent met with economic leaders from different countries in Asheville, North Carolina. He aimed to gather support for President Trump’s financial policies related to Iran during this gathering.
Key Facts
Scott Bessent is the Treasury Secretary.
He hosted economic officials from various countries.
The meeting took place in Asheville, North Carolina.
The goal was to build support for President Donald Trump’s financial agenda.
The focus of the agenda relates to economic policies on Iran.
This event happened during a time linked to the G20 summit, a gathering of world leaders on economic issues.
The effort was part of the U.S. government’s broader international financial strategy.
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Uber is cutting about 10% of its workers, or roughly 3,400 jobs, to make the company simpler and more efficient. The company will also require most employees to work in offices, limiting remote work to about 1% of staff.
Key Facts
Uber will lay off around 10% of its global workforce, about 3,400 people.
The company plans to remove extra management layers and simplify team setups.
The job cuts aim to save about $1.7 billion, according to an outside financial report.
Uber wants to invest more money in drivers, delivery workers, sellers, and new technology like self-driving cars.
Most remote workers must move to work in Uber's main office locations.
Only about 1% of employees will be allowed to work from home in the future.
The CEO said working together in person helps team collaboration and problem-solving.
Uber started as a rideshare company in 2009 but now also delivers food and other goods.
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OpenAI is facing new lawsuits in the U.S. after a mass shooting in Tumbler Ridge, Canada, that killed eight people. The lawsuits claim OpenAI and its CEO did not report warning signs seen in interactions with their chatbot, ChatGPT, before the shooting.
Key Facts
The Tumbler Ridge shooting happened in February in British Columbia, leaving eight dead and over 25 wounded.
30 new lawsuits were filed in California federal court, adding to seven earlier lawsuits from April.
Plaintiffs include teachers, students, and witnesses at the school where most victims died.
The shooter, Jesse Van Rootselaar, reportedly described violent scenarios in conversations with ChatGPT before the event.
OpenAI CEO Sam Altman apologized for not alerting law enforcement after seeing these warnings.
British Columbia’s Attorney General said the province will also seek legal action against OpenAI.
OpenAI faces other lawsuits alleging its AI tech contributed to violence and suicides in the U.S. and Canada.
OpenAI’s head of strategy said the company will respect the legal process and work with victims’ families.
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A U.S. federal judge ordered Google to change how it runs its digital advertising system but did not require the company to break up its business. This ruling follows a previous court decision declaring Google’s search engine an illegal monopoly and rejecting a government demand to sell its Chrome browser.
Key Facts
Judge Leonie Brinkema ruled that Google must fix its digital advertising system but stopped short of forcing a breakup.
The U.S. Justice Department had asked for parts of Google’s ad technology to be sold to reduce monopoly power.
Google’s parent company, Alphabet Inc., is valued at $4.11 trillion and makes nearly $400 billion yearly from ads.
This is the second time Google avoided a breakup in court related to monopoly allegations in the past year.
Google argued that breaking up its ad system would harm online publishers who rely on the technology.
The advertising system handles about 55 million requests every second.
The judge’s full detailed decision will be reviewed by both sides before public release.
Some critics say the ruling does not do enough to stop Google from limiting competition in tech.
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Pabst Blue Ribbon is offering up to $20,000 for information to recover 1,602 cases of stolen beer in Southern California. The beer was taken in two thefts from a warehouse on August 17, with a total value of about $70,000.
Key Facts
1,602 cases of Pabst Blue Ribbon and Old Milwaukee beer were stolen on August 17 in Montclair, California.
The theft happened in two parts at an Anheuser-Busch distribution center east of Los Angeles.
The first theft involved about $45,000 worth of beer that never reached its destination in Tucson, Arizona.
The second theft used fake paperwork to get $25,000 worth of beer an hour later.
In total, about 40,000 pounds of beer valued at $70,000 was stolen.
Pabst Brewing Co. CEO is offering a reward of up to $20,000 for information leading to the beer’s recovery.
The company wants the beer returned by September 9.
Similar high-value food thefts happened recently, including seafood in New England and chocolate bars in Europe.
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Uganda has officially named its crude oil blend "Pearl Sweet" as the country prepares to start commercial oil production by the end of 2024. The blend is called "sweet" because it has low sulfur, and Uganda hopes the oil industry will help its economy grow.
Key Facts
Uganda will begin commercial oil production by the end of 2024.
The country named its crude oil blend "Pearl Sweet," referencing Uganda’s nickname as "the pearl of Africa."
"Sweet" refers to the crude oil’s low sulfur content, which is desirable in the oil market.
Uganda has about 1.6 billion barrels of recoverable oil reserves.
Major investors in Uganda’s oil projects include TotalEnergies (France), China National Offshore Oil Corporation (CNOOC), and Uganda National Oil Company, which owns 15%.
Production is expected to reach around 230,000 barrels per day.
The oil pipeline will connect oil fields near Lake Albert to a port in Tanzania.
The pipeline project faces opposition from environmental groups concerned about its impact on protected forests, wildlife, and fresh water sources, and its conflict with climate agreements.
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Chevron, a major U.S. oil company, will expand its work in Venezuela after President Donald Trump announced a deal to develop Venezuela’s oil and share profits with the Pentagon. Chevron plans to invest over $7 billion in the next five years to more than double its oil production in Venezuela.
Key Facts
Chevron is the only major U.S. oil company currently operating in Venezuela.
Chevron received new land in the Orinoco Belt, an important oil area in Venezuela.
The company aims to produce about 600,000 barrels of oil per day, more than twice its current output.
Chevron’s investment plan is over $7 billion for the next five years.
Venezuela has the world’s largest proven oil reserves, with more than 303 billion barrels.
Venezuela’s oil infrastructure is damaged and production is low because of sanctions and other problems.
Venezuela produces just over 1 million barrels of oil a day, much less than Saudi Arabia and the U.S.
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One dollar coins featuring President Donald Trump’s image sold out very quickly when they came out. The coins went on sale at noon and were no longer available within hours.
Key Facts
The coins are gold-colored and show President Donald Trump’s picture.
They were sold by the U.S. Mint starting at 12:00 PM on Wednesday.
The coins were advertised as a chance to “own a piece of American History.”
A roll of 25 coins was priced at $61.
The coins sold out within hours of going on sale, according to the U.S. Mint website.
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Commerce Secretary Howard Lutnick said that data centers do not use water, even though these facilities need a lot of water. This statement came during an interview where concerns about data centers’ water use affecting local communities were discussed.
Key Facts
Commerce Secretary Howard Lutnick said data centers "don’t use water."
Data centers are known for using large amounts of water, especially for cooling equipment.
There are growing concerns that water use by data centers can impact local communities.
Lutnick made the comments during an interview with CNBC.
Data centers are important facilities that help store and manage digital information.
Water consumption by data centers has become a topic of public discussion.
The discussion involves balancing technology needs and environmental concerns.
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Buy now, pay later (BNPL) loans were first meant to help people buy small items. Now, more people are using these loans to pay for important things like rent, groceries, and medical bills. Experts warn this can be risky because the costs and fees are not always clear.
Key Facts
BNPL loans let buyers split payments into smaller parts, usually four payments over a few weeks or months.
These loans often do not require a credit check and are offered quickly during checkout online or in stores.
In 2025, Americans borrowed $160 billion using BNPL loans, double the amount two years earlier.
More than half of BNPL users say they would struggle to pay their bills without these loans.
Nearly 30% of BNPL users spent the loans on groceries, up from 14% two years ago.
About 23% have used BNPL loans for medical expenses or rent.
Lenders make money from fixed fees and a percentage of the loan amount; late fees are less common but late payments can affect future loan approval.
Some companies are creating new services, like letting renters split monthly rent payments into two parts to help with flexibility.
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Uber is stopping its services immediately in Nigeria and Uganda after reviewing its business in these countries. The company will still work in Egypt, Ghana, Kenya, and South Africa in Africa.
Key Facts
Uber started operating in Nigeria in 2014 and in Uganda in 2016.
Drivers in Nigeria complained that Uber’s prices are too low and commission fees are too high.
Uber’s CEO announced a global job cut of 10%, affecting over 3,000 employees.
Over the past year, Uber also left Ivory Coast and Tanzania.
Nigeria’s removal of a fuel subsidy and rising petrol prices increased costs for drivers and commuters.
Other ride-hailing companies, like Bolt and inDrive, operate in Nigeria and Uganda.
Uber will keep its support centers open in Nigeria and Uganda until 23 September to help drivers and employees.
In Lagos, Uber once offered a boat service to help avoid traffic jams.
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Certificate of deposit (CD) accounts offer higher, fixed interest rates compared to regular savings accounts, making them a good choice for savers in September. However, there are common mistakes to avoid, such as opening a CD before the Federal Reserve meeting, choosing short-term CDs over long-term ones, and only using your current bank without comparing other options.
Key Facts
CD accounts pay higher fixed interest rates than traditional savings accounts.
Withdrawing money from a CD before it matures can lead to significant early withdrawal fees.
The Federal Reserve is likely to raise interest rates after its September 16 meeting.
Opening a CD before the Fed’s decision may mean missing out on higher rates.
Long-term CDs currently offer better interest rates compared to short-term CDs.
Only choose a long-term CD if you can keep the money until it matures.
Online banks often offer better CD rates than traditional banks with physical branches.
Using just your current bank for CDs might cause you to miss out on higher interest rates elsewhere.
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A US judge has rejected the government’s request to force Google to sell part of its online advertising business called AdX. The judge agreed that Google broke competition rules but decided that changing some business practices, rather than breaking up the company, was enough for now.
Key Facts
Judge Leonie Brinkema ruled against breaking up Google’s ad exchange platform, AdX.
The US Department of Justice (DOJ) had argued Google illegally stopped competition in online advertising.
The judge found Google had monopolized key parts of the ad tech market and tied products together unfairly.
Details of the changes Google must make are not yet public and will be filed in 14 days.
Google plans to appeal the earlier ruling that it had illegally monopolized the market.
The DOJ said the decision still requires Google to make significant changes and is considering next steps.
This is the third recent case where US courts rejected breaking up a major Big Tech company.
Google said breaking up parts of its ad business would hurt publishers, advertisers, and consumers.
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Chevron and Eni, two big oil companies from the U.S. and Italy, have agreed to expand their oil projects in Venezuela. The agreement was signed in Caracas with Venezuela’s interim President Delcy Rodriguez and U.S. Energy Secretary Chris Wright present.
Key Facts
Chevron (a U.S. company) and Eni (an Italian company) are increasing oil production projects in Venezuela.
The signing ceremony took place in Caracas, Venezuela’s capital.
Interim President Delcy Rodriguez of Venezuela and U.S. Energy Secretary Chris Wright attended the event.
The aim is to boost Venezuela’s oil output.
This expansion comes while the U.S. government closely watches these developments.
Venezuela is a country rich in oil reserves but has faced economic and political challenges.
Previously, Chinese and Russian companies operated some Venezuelan oilfields.
This deal is part of ongoing energy and economic cooperation between Venezuela and foreign companies.
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