The Financial Conduct Authority (FCA) is reviewing child trust fund providers to see if they are helping savers find and access their accounts. About £1.5 billion in unclaimed funds remain, and the FCA wants firms to make sure fees are fair and vulnerable people get support.
Key Facts
Around 760,000 child trust fund accounts, worth about £1.5 billion, are unclaimed.
The child trust fund scheme started for children born between 2002 and 2011 to encourage saving.
Families received at least £250 from the government for each child’s account.
The FCA wants banks, insurers, and fund managers to do more to find customers who lost contact with their accounts.
The FCA warned against paying expensive fees to companies that offer to find lost funds, since this service is free through HMRC.
The review will check if fees and charges are fair under a 2023 consumer duty rule requiring good customer outcomes.
Some providers will face more detailed questions if they hold large shares of the market or if there are signs of problems.
The FCA will report its findings next year and may take action against providers if needed.
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Shares of Shein, a fast-fashion online retailer, dropped about 10% after its first day of trading on the Hong Kong stock market. The company raised around $1.7 billion in its initial public offering, but increasing tariffs and higher costs have hurt its profits.
Key Facts
Shein’s shares fell roughly 10% on their first day in Hong Kong.
The company raised $1.7 billion by selling shares at HK$48.56 ($6.19) each.
Shein’s business depends on delivering cheap, fast fashion from China to Western customers.
New tariffs in the U.S. and EU on low-value goods from China increased costs for Shein.
Higher shipping costs, partly due to the Iran conflict, also hurt Shein’s profits.
Shein reported a $99 million loss in early 2026, compared to a $395 million profit in early 2025.
Shein moved its headquarters from China to Singapore around 2021 but returned to list shares in Hong Kong.
The company benefits from a unique supply chain system in Guangdong province, China, where it started.
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The Trump administration has made a deal involving a private company, North American Blue Energy Partners (NABEP), to develop Venezuelan oil reserves. The U.S. Defense Department will own 35% of this company, and the State Department can buy a significant portion of its oil, aiming to increase production while costing no money to American taxpayers.
Key Facts
Venezuela has granted NABEP a 100-year agreement to drill in 17 oil fields holding about 65 billion barrels of oil.
The U.S. Defense Department will own 35% of NABEP.
The U.S. State Department can buy 20% of NABEP’s oil at production cost and has the first option to buy more.
NABEP currently produces over 200,000 barrels per day and aims to increase to over 1 million barrels daily soon.
The deal includes plans to invest up to $100 billion to improve Venezuela’s oil infrastructure.
President Trump says this deal will help lower energy prices and strengthen U.S. energy security without costing taxpayers.
Some experts warn it may take years for Venezuelan oil to impact U.S. prices due to infrastructure challenges and the quality of the oil.
The deal has faced criticism from U.S. politicians and Venezuelan opponents who question its legality and purpose.
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The article gives advice on how to make going back to work after summer holidays easier. It suggests starting with small tasks, being gentle with yourself on the first day, and keeping some holiday habits at home. It also encourages thinking about the deeper reasons for feeling unhappy at work and planning future holidays.
Key Facts
Easing back into work with small tasks can help avoid feeling overwhelmed by a full inbox.
Being kind to yourself on the first day back, such as avoiding back-to-back meetings, can reduce stress.
Using a clear out-of-office message can manage others’ expectations and reduce pressure.
Bringing parts of holiday routines, such as evening walks or screen-free meals, into daily life can improve wellbeing.
Exploring your local area with curiosity helps keep the holiday feeling alive.
Long-lasting or intense feelings of unhappiness at work may suggest deeper issues beyond simple adjustment.
Thinking carefully before making major job changes is important to avoid impulsive decisions.
Looking forward to and planning new holidays can boost mood and motivation.
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Houses near top state secondary schools in the UK cost about £40,000 more on average than those in the surrounding areas. This extra cost is similar to the price of several years of private school fees. The price difference varies by location, with some areas showing much larger premiums.
Key Facts
The average house near a top 50 state secondary school costs about £415,791, which is £40,574 (11%) more than homes in the wider local area.
Private school fees average £23,000 per year, so over seven years, the total cost is similar to the extra house price near top state schools.
In Sutton Coldfield, near Bishop Vesey’s grammar school, home prices are £275,814 higher than the wider Birmingham area.
Near Henrietta Barnett School in London, homes cost 37% more than the rest of the Barnet borough, adding an extra £354,288 in value.
Some areas show the opposite trend; near Reading School and Kendrick School, houses are cheaper than the local average by £84,373.
Families often consider the quality of local schools when choosing where to live, leading to these price premiums.
Near top private schools in London, prices can be up to 77% higher, with Queen’s College area homes costing around £1.92 million on average.
Premiums near private schools like Westminster School and Francis Holland School are about 54.5% higher than the wider Westminster area.
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The United States and Venezuela have made a new agreement related to oil reserves. President Donald Trump says the deal is positive, but experts think it may take a long time before the agreement produces results.
Key Facts
The U.S. and Venezuela signed a new oil reserve agreement.
President Donald Trump supports the deal and downplays concerns.
Experts warn the deal could take years to become fully operational.
The agreement involves managing or using oil resources between the two countries.
Details on how the deal will work or its exact benefits were not provided.
CBS News reported on this development and included expert opinions.
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The Federal Trade Commission (FTC) and 22 states have sued Amazon, accusing it of charging customers too much for online advertising by misleading them about prices. The lawsuit says Amazon said their ad auctions had competitive prices, but actually raised prices for about 1.2 million customers.
Key Facts
The lawsuit was filed in the U.S. District Court in the Western District of Washington.
Amazon is accused of defrauding advertising customers by inflating prices in online ad auctions.
Around 1.2 million customers were affected by these allegedly higher charges.
The FTC claims Amazon misled customers by saying the prices were competitive.
FTC Chairman Andrew Ferguson said the company’s actions had a big impact because Amazon has so many advertising customers.
Amazon responded by denying the allegations, calling them false and based on oversimplified statements.
The case centers on honesty and fairness in how Amazon sells advertising space online.
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Shein, a fast-fashion company known for low prices and trendy items, is going public on the Hong Kong stock market after failing to list in the US and UK. The company raised about $1.7 billion, valuing it at $26.3 billion, down from an earlier estimate of nearly $100 billion, amid challenges like competition, trade tensions, and concerns about labor and environmental practices.
Key Facts
Shein is listing its shares on the Hong Kong stock market, raising 13.6 billion Hong Kong dollars (about $1.7 billion).
The company’s stock market value is approximately $26.3 billion after the listing.
Shein was once valued close to $100 billion but now has a much lower valuation due to market and regulatory challenges.
The company sells fashion products in over 150 countries and has 281 million active customers.
Shein has faced criticism over labor practices, including allegations of forced labor, which it denies and says it has zero tolerance for.
Shein’s attempts to list in the US and UK were blocked by concerns about labor and environmental issues.
The rise of fast fashion on e-commerce was boosted during the COVID-19 pandemic when more people shopped online.
The company is headquartered in Singapore with production primarily in China and faces competition and regulatory scrutiny globally.
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Japan is increasing its investments and business activities in India as it faces slowing growth and tensions in China. Japanese companies, including big retailers and banks, are expanding their presence in India, signing deals worth billions of dollars in sectors like finance, retail, and technology.
Key Facts
India’s commerce minister led the biggest Japanese business group visit to strengthen trade ties.
Japanese brands like Uniqlo, Muji, and Onitsuka Tiger are rapidly expanding in Indian cities.
Japanese banks are buying major stakes in Indian financial companies, with a $4.4bn deal for Shriram Finance and a large shareholding in Yes Bank.
Over 100 Japanese firms run global capability centers in India, focusing on important jobs like research and AI development.
Japan’s local market is shrinking due to population decline, making India a key growth market.
Investment in China by Japanese firms has dropped because of political and economic problems.
Indian Prime Minister Modi and Japan have a "special strategic and global partnership" aimed at boosting business ties.
In July, Japanese companies announced $12.5bn in new investments in India across various sectors during the Japanese Prime Minister's visit.
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The US Federal Trade Commission (FTC) and 22 states have sued Amazon, accusing the company of secretly raising ad prices by changing online auction results. The lawsuit claims this practice has earned Amazon about $20 billion since 2019 and has harmed advertisers and customers.
Key Facts
The FTC and states filed the lawsuit in Washington state on Monday.
Amazon is accused of replacing auction prices with higher prices to increase profits.
Amazon denies the claims and says the lawsuit is based on misunderstanding.
The alleged practice involves charging advertisers near their own bid prices instead of the expected lower second-price auction rate.
The lawsuit says these higher ad costs are passed on to customers, causing harm.
Amazon's stock price dropped by 2.5% after the lawsuit was announced.
Amazon previously settled a separate FTC case in 2024 for $2.5 billion over Prime subscription issues.
Amazon says average winning ad bids have actually gone down in recent years, and that most ads are not given to the highest bidder.
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A judge allowed J.M. Smucker to continue a lawsuit against Trader Joe’s for allegedly copying the look of Smucker’s Uncrustables frozen sandwiches. Smucker claims Trader Joe’s sandwiches and packaging are too similar, while Trader Joe’s denies copying and says the design is functional.
Key Facts
Smucker sued Trader Joe’s in federal court in Ohio over frozen peanut butter and jelly sandwiches.
Smucker says Trader Joe’s sandwiches copied the round shape and crimped edges of Uncrustables.
Smucker also claims Trader Joe’s packaging looks very similar to Uncrustables’ box design.
Trader Joe’s says its sandwiches are shaped as “squircles” (square with rounded edges) not round.
Trader Joe’s argues the crimped edge is needed to keep sandwich contents inside.
A judge ruled that Smucker’s Uncrustables brand has established customer recognition over 20 years.
The court denied Trader Joe’s request to move the case to California.
Smucker wants Trader Joe’s to pay restitution and destroy all disputed products and packaging.
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Ernst & Young (EY), a large consulting firm, will give $100 million in bonuses to workers who show strong human skills like leadership and teamwork. EY believes these skills are important for the future, especially as technology and artificial intelligence (AI) change how work is done.
Key Facts
EY is one of the "Big Four" management consulting firms.
The company plans to award $100 million in bonuses for human skills such as leadership, good judgment, business sense, teamwork, and adaptability.
EY will also reward employees who adopt new technology.
The CEO of EY Americas, Dante D'Egidio, said this shows the firm’s commitment to building a future workforce.
EY sees a future where technology leads work but human skills remain essential.
Economists say AI may eliminate some jobs but create new ones.
Workers who do not learn to use AI with their skills risk being left behind.
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Crystal Temptations is recalling certain Chocolatey Eyeballs candies sold at TJ Maxx, Marshalls, HomeGoods, and Sierra stores in 13 states because they contain milk that is not listed on the package. People with milk allergies could have serious reactions if they eat these candies. No illnesses have been reported so far.
Key Facts
The recall involves five types of Chocolatey Eyeballs with specific package sizes and style numbers.
The candies were sold in Arizona, California, Connecticut, Georgia, Indiana, Massachusetts, Nevada, New Jersey, North Carolina, Ohio, Texas, Virginia, and Wyoming.
The issue was found when a store analyst noticed milk was in the candy but not declared on the label.
The problem happened due to a temporary error in the company's production and packaging.
Milk is a common allergen and has caused many food recalls in the past because people did not know it was in the product.
About 2% of people in the U.S. have a milk allergy.
Symptoms of a milk allergy can be mild or severe and may include hives, swelling, stomach pain, vomiting, wheezing, or a life-threatening reaction called anaphylaxis.
Consumers who bought the candies should throw them away and contact Crystal Temptations for a refund; refunds are not available at the stores.
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Pabst is offering a reward to anyone who helps return 40,000 pounds of its beer stolen from a warehouse in southern California. The theft involved two shipments taken under false pretenses on August 17 from a distribution center near Los Angeles.
Key Facts
About 40,000 pounds (18,000 kg) of Pabst Blue Ribbon and non-alcoholic Old Milwaukee beer were stolen.
The theft happened at an Anheuser-Busch warehouse in Montclair, California.
Two separate pickup frauds occurred on the same day, August 17.
The stolen beer's estimated value is $70,000 total.
In the first heist, $45,000 worth of beer was taken but not delivered.
The second pickup involved fake documents from a supposed subcontractor to take $25,000 worth of beer.
Pabst is offering a cash reward equal to half the value of the stolen beer.
Police are investigating whether both thefts are linked as part of a cargo-theft scheme.
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The movie *Coyote vs. Acme* has been released after three years of development and tells the story of Wile E. Coyote suing the Acme Corporation for defective products. The film combines humor and satire while featuring many references to classic Looney Tunes cartoons.
Key Facts
*Coyote vs. Acme* is based on a 1990 satirical story by Ian Frazier.
The film’s development began in 2018 and includes work by writer James Gunn.
Warner Bros. initially delayed the film in 2023 to use a tax write-off, causing criticism.
The plot centers on Wile E. Coyote hiring a lawyer to sue Acme for faulty products used in his attempts to catch the Road Runner.
The main human characters’ names honor famous Looney Tunes creators, like Tex Avery and Chuck Jones.
The story includes a large lawsuit against Acme prompted by a filing mistake, followed by a court trial.
Acme has a secret project called “Project Sisyphus” and a missing scientist from 1992.
The film features many Looney Tunes character appearances and pays tribute to the franchise’s history.
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President Donald Trump encouraged communities to support the building of data centers. He stated that supporting data centers can help people become successful and wealthy.
Key Facts
President Trump posted about data centers on social media.
He said people who want to be successful and rich should back data centers.
Data centers are facilities that store and manage large amounts of digital information.
Communities sometimes resist data centers due to concerns about land use or energy consumption.
President Trump’s message suggests data centers can bring economic benefits.
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The US Federal Trade Commission (FTC) and 22 states sued Amazon, accusing it of secretly overcharging advertisers by more than $20 billion through hidden fees. The regulators say these extra charges increased the cost of many products for customers. Amazon denies the claims and calls the lawsuit wrong.
Key Facts
The FTC and 22 states filed a lawsuit against Amazon on allegations of overcharging advertisers.
The overcharges come from secret fees in Amazon’s advertising auction system.
The alleged extra charges totaled more than $20 billion since 2019.
About 1.2 million advertisers, including over 500,000 small and medium businesses, were affected.
Amazon’s advertising business is the third largest online, after Google and Meta, with over $68 billion in revenue.
Regulators say Amazon used “second-price auctions” but manipulated the process by adding fake bids to raise prices.
Amazon denies the accusations and claims it offers low prices across many products.
The lawsuit seeks to stop Amazon’s alleged unfair practices, fines, and refunds to advertisers.
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The Federal Trade Commission (FTC) and 22 states sued Amazon for allegedly charging secret extra fees in its online advertising auctions. These hidden surcharges are said to have increased advertising costs for over a million Amazon sellers and may have cost customers billions of dollars over seven years.
Key Facts
The FTC and 22 states filed the lawsuit against Amazon on Monday.
Amazon is accused of secretly raising prices in its online ad auctions without telling sellers.
The extra charges affected more than 1 million brands and sellers on Amazon’s platform.
The alleged surcharges lasted for seven years.
The increased costs for advertisers were likely passed on to customers.
The states involved include Alaska, California, Florida, New York, and others.
FTC Chairman Andrew Ferguson said Amazon’s actions misled advertisers and harmed consumers.
Amazon has not yet responded publicly to the lawsuit.
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Money market accounts currently offer interest rates around 3.8% to 4.0%, which is much higher than traditional savings accounts. If the Federal Reserve raises interest rates in September, these rates could increase, helping savers earn more money while keeping access to their funds flexible.
Key Facts
Traditional savings accounts have an average interest rate of about 0.38%.
Money market accounts offer higher rates, currently between 3.80% and 4.00%.
These accounts have variable rates, so their interest can rise if the Federal Reserve increases rates.
Higher interest rates help savers earn more money on their deposits.
Money market accounts allow easier access to money compared to some other account types.
Online banks often provide better money market rates than banks with physical branches.
Interest earned varies by deposit size; for example, $5,000 at 4% earns about $200 in one year.
With potential rate hikes, money market account returns could increase without needing any action from savers.
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This September is a good time for people with debt to think about getting professional help. With inflation high and borrowing costs possibly rising again, waiting to manage debt could cost more in interest and make paying off debt harder.
Key Facts
Managing debt has become harder due to inflation and economic uncertainty.
The Federal Reserve will meet mid-September and might raise interest rates again.
Credit card interest rates average around 22.15%, which is very high.
When interest rates rise, credit card payments get more expensive.
Debt relief options include debt consolidation (combining debts into one payment) and debt settlement (negotiating to reduce the amount owed).
Debt settlement can sometimes save 30% to 50% of the total balance.
Taking action now may help avoid higher costs if interest rates increase.
Waiting to handle debt might lead to paying more interest and slower progress on paying down balances.
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