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Business news, market updates, and economic developments

China cracks down on 'ghost kitchens' in food delivery apps

China cracks down on 'ghost kitchens' in food delivery apps

June 02, 2026 • BBC Top Stories

Summary

China is tightening rules on food delivery apps to regulate "ghost kitchens," which are restaurants listed online but have no physical stores. New rules require apps to verify restaurant licenses and addresses, aiming to improve food safety and stop illegal operations.

Key Facts

  • "Ghost kitchens" are food vendors on delivery apps without real storefronts.
  • New rules require food delivery apps to confirm restaurants’ licenses and actual locations.
  • Vendors must state if they do not offer dine-in service.
  • Authorities found a cake chain with 380 online locations but no physical stores, using fake licenses.
  • Investigations revealed 67,000 ghost kitchens on seven major delivery platforms in China.
  • Delivery platforms and order-transfer sites were accused of working together illegally.
  • The government fined seven major e-commerce platforms 3.6 billion yuan ($530 million) mainly over ghost deliveries.
  • Some merchants installed transparent kitchens with live video to assure customers of food safety.
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BBC Top Stories BBC World BBC Business
India’s Zee Entertainment signs World Cup 2026 broadcast deal with FIFA

India’s Zee Entertainment signs World Cup 2026 broadcast deal with FIFA

June 02, 2026 • Al Jazeera

Summary

FIFA has signed a deal with India’s Zee Entertainment to broadcast the World Cup tournaments from 2026 through 2034 in India. The agreement covers 39 FIFA events, including the 2027 Women’s World Cup, and ends a long wait for World Cup broadcast rights in India.

Key Facts

  • Zee Entertainment secured the broadcast rights for FIFA events in India through 2034.
  • The deal includes 39 FIFA events such as the World Cup 2026, 2030, and the Women’s World Cup 2027.
  • FIFA initially sought about $100 million but reduced the asking price to around $60 million.
  • India’s sports broadcast market is largely dominated by Reliance-Disney’s JioStar.
  • Most 2026 World Cup matches will air late at night in India due to a 10-12 hour time difference with host countries.
  • The late match times made broadcasters less interested compared to previous tournaments with more favorable time zones.
  • Zee’s shares rose around 7% after the deal was announced.
  • Cricket remains the leading sport in India’s market, with FIFA World Cup drawing a smaller audience in comparison.
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Al Jazeera
Influencers sought to sell Cambridge homes in China

Influencers sought to sell Cambridge homes in China

June 02, 2026 • BBC World

Summary

A Cambridge estate agent called Pure Living is looking for Chinese-speaking students to help sell UK homes to buyers in China and Hong Kong using popular Chinese social media. The agent says Cambridge homes are popular with East Asian buyers because of safety, good schools, and proximity to London.

Key Facts

  • Pure Living has a poster in Mandarin seeking help to market Cambridge homes on WeChat and Xiaohongshu, Chinese social media platforms.
  • The company targets Chinese and Hong Kong buyers, some using properties for investment or student housing.
  • A housing development near Cambridge airport is nicknamed "mini-China" because it is popular with buyers from East Asia.
  • Pure Living was founded in 2019, during mass moves from Hong Kong to the UK amid protests there.
  • The agent says Cambridge attracts buyers due to low crime, good schools, and closeness to London.
  • The company claims to check buyers carefully, including money laundering controls.
  • Local officials worry foreign investment may raise prices and reduce availability for local families.
  • The agent says higher home prices are more due to building cost increases than overseas buyers.
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BBC World
Steph Curry signs with Chinese brand Li-Ning after Under Armour split

Steph Curry signs with Chinese brand Li-Ning after Under Armour split

June 02, 2026 • BBC US

Summary

Stephen Curry, a famous basketball player, ended his 12-year partnership with Under Armour and signed a new deal with Li-Ning, a large Chinese sportswear company. They will work together on new products and open Curry Brand stores in both the US and China.

Key Facts

  • Stephen Curry signed with Li-Ning after leaving Under Armour in 2025.
  • Li-Ning is a major Chinese sportswear brand with 7,000 shops across Asia.
  • Curry and Li-Ning plan to launch stores in the United States and China.
  • This is Curry’s first deal with a Chinese brand; he previously worked with Nike and Under Armour.
  • Other NBA players like Dwyane Wade and Jimmy Butler also have deals with Li-Ning.
  • Chinese brands like Li-Ning and Anta are expanding globally and competing with Western companies like Nike and Adidas.
  • Anta recently bought a majority stake in Puma to help grow its business in China.
  • Curry aims to grow his brand’s basketball, golf, and other sports products worldwide through this partnership.
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BBC US BBC Top Stories BBC Business BBC World
About 3 million workers on minimum wage to receive 4.75% pay rise in Fair Work Commission ruling

About 3 million workers on minimum wage to receive 4.75% pay rise in Fair Work Commission ruling

June 02, 2026 • Guardian World

Summary

About 3 million Australian workers will get a pay increase of 4.75%, while the lowest paid 100,000 workers will receive a 6% raise. The Fair Work Commission made this decision to help workers cope with rising living costs and inflation.

Key Facts

  • Nearly 3 million workers will get a 4.75% wage increase starting July 1.
  • Around 100,000 lowest-paid employees will receive a 6% pay rise.
  • The minimum hourly wage will go up from about $24.95 to $26.44.
  • The decision aims to address inflation and higher fuel prices.
  • Unions asked for a 6% increase; employers wanted 3.5%.
  • Inflation in Australia was 4.2% to April; forecasts expect it may exceed 5%.
  • The previous minimum wage rise was 3.5% for 2025-26.
  • The government wants wage increases that keep up with inflation but remain sustainable.
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Guardian World
Wholesalers and restaurant owners say they can't keep eating rising prices

Wholesalers and restaurant owners say they can't keep eating rising prices

June 02, 2026 • CBS News

Summary

Wholesalers and restaurant owners are facing higher costs for their products. They are trying to handle these rising prices themselves instead of charging more to their customers.

Key Facts

  • Wholesalers sell goods in large amounts to restaurants and other businesses.
  • Both wholesalers and restaurant owners are seeing prices go up for the products they buy.
  • They prefer to absorb the extra costs rather than increase menu prices for customers.
  • This means they are using their own money or cutting other expenses to cover higher prices.
  • The rising costs affect their business profits and financial stability.
  • These groups are concerned they cannot continue losing money for a long time.
  • The article is based on interviews with wholesalers and restaurant owners explaining their situation.
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CBS News
Cheese bread sold at Costco, Walmart recalled over salmonella concerns

Cheese bread sold at Costco, Walmart recalled over salmonella concerns

June 01, 2026 • The Hill

Summary

A company in Michigan is recalling certain frozen cheese bread products because they might be contaminated with salmonella, a bacteria that can cause food poisoning. The recall affects cheese breads sold at stores like Costco and Walmart.

Key Facts

  • The recall involves frozen cheese bread products.
  • The products were sold at Costco and Walmart.
  • The company making the cheese bread is based in Michigan.
  • The recall is due to possible salmonella contamination.
  • Salmonella can cause food illness if consumed.
  • Consumers are advised to check their purchases and avoid eating the recalled items.
  • The recall aims to prevent any health problems from the contaminated products.
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The Hill
UK’s growing green economy worth more than £100bn a year, research finds

UK’s growing green economy worth more than £100bn a year, research finds

June 01, 2026 • Guardian World

Summary

The UK’s green economy is now worth over £100 billion a year and supports more than one million jobs, according to recent research. It also offers higher wages on average and has nearly £455 billion planned for future investments, driven by government efforts to reduce carbon emissions.

Key Facts

  • The UK’s net zero or green economy contributes £105 billion to the economy, about 4% of UK economic output.
  • Over 1.1 million jobs are linked to the green economy, including direct roles like solar panel installation and electric vehicle production.
  • Workers in this sector earn around £43,000 annually, which is higher than the UK national average of £39,000.
  • An estimated £455 billion is expected to be invested in energy infrastructure to support green goals.
  • Nearly 22,000 small businesses in the UK focus on cutting emissions and boosting renewable energy.
  • The government aims to decarbonize the UK’s electricity by 2030 and achieve net zero carbon emissions by 2050.
  • Some political parties want to end these net zero targets and favor fossil fuels instead.
  • Experts warn that abandoning net zero targets could harm the economy and reduce the UK’s competitiveness in growing green industries.
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Guardian World
White Castle adds veggie burger to menu as plant-based eating grows

White Castle adds veggie burger to menu as plant-based eating grows

June 01, 2026 • Guardian World

Summary

White Castle has introduced a new permanent veggie burger called the Southwest Veggie Slider, made with a crispy brown rice crust and a veggie patty containing sweet potatoes, beans, corn, and vegetables. This launch aims to meet growing customer demand for meat-free options, despite a recent rise in meat consumption trends in the United States.

Key Facts

  • White Castle is adding the Southwest Veggie Slider as a permanent menu item.
  • The slider includes a veggie patty with sweet potatoes, black beans, corn, red peppers, onions, and carrots.
  • The slider comes with jalapeño cheese but customers can choose American or cheddar cheese instead.
  • About 6% to 15% of Americans identify as vegetarian or vegan based on recent surveys.
  • White Castle chose a veggie patty from Dr Praeger’s, a company known for vegetarian frozen foods.
  • Sales of veggie burgers have decreased recently as meat-eating gains popularity.
  • The Trump administration supports diets with increased protein from animals and plants and encourages full-fat dairy.
  • Plant-based burger companies like Impossible Foods are changing their marketing to target meat lovers.
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Guardian World Guardian US
Trump faces a new inflation warning from the bond market, adding to his midterm challenges

Trump faces a new inflation warning from the bond market, adding to his midterm challenges

June 01, 2026 • PBS NewsHour

Summary

Investors are becoming more worried about lending money to President Donald Trump's government, which is causing interest rates to rise. This is making borrowing more expensive, slowing down economic growth, and could create problems for Republicans in the upcoming midterm elections.

Key Facts

  • Interest rates on 10-year U.S. Treasury notes have increased from 3.95% to over 4.44% since the Iran war began.
  • Higher interest rates increase borrowing costs for the government and consumers.
  • Mortgage rates have reached their highest point in nine months.
  • Rising borrowing costs are making it harder for people to afford homes and cars.
  • Auto sales have decreased as a result of higher interest rates.
  • The situation adds economic challenges that may affect the Republican party in the November midterm elections.
  • The spike in energy prices due to the conflict with Iran is contributing to these financial pressures.
  • This trend reflects growing concerns among lenders about the U.S. government's financial outlook.
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PBS NewsHour
A Brief But Spectacular take on cooking with pride

A Brief But Spectacular take on cooking with pride

June 01, 2026 • PBS NewsHour

Summary

Chef Melissa King, known for her cooking skills and appearances on TV shows like Top Chef and Sesame Street, talks about her approach to food and identity. She also shares family recipes from her first cookbook called "Cook Like a King."

Key Facts

  • Melissa King is a Michelin-starred chef.
  • She has appeared on the cooking competition show Top Chef.
  • She has guest-starred on the children's show Sesame Street.
  • She discusses her views on food and personal identity.
  • She has published a cookbook titled "Cook Like a King."
  • The book includes family recipes that are important to her.
  • She describes her cooking style in a short, impactful way.
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PBS NewsHour
Horror films made by YouTubers take top spots at weekend box office

Horror films made by YouTubers take top spots at weekend box office

June 01, 2026 • CBS News

Summary

Two low-budget horror movies made by YouTube creators, "Backrooms" and "Obsession," were the most popular films at the weekend box office. These movies attracted many viewers despite being produced with smaller budgets.

Key Facts

  • "Backrooms" and "Obsession" are horror films created by YouTube personalities.
  • Both movies performed very well at the weekend box office.
  • The films had low production budgets compared to typical Hollywood movies.
  • They outsold many other larger films playing at the same time.
  • Their success shows that small online creators can compete in theaters.
  • The news report was presented by CBS News correspondent Carter Evans.
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CBS News
Alphabet seeks $80 billion to fund AI buildout

Alphabet seeks $80 billion to fund AI buildout

June 01, 2026 • Axios

Summary

Alphabet plans to raise up to $80 billion to fund its artificial intelligence (AI) projects. Part of this funding includes a $10 billion investment from Berkshire Hathaway through a private deal.

Key Facts

  • Alphabet is raising up to $80 billion by selling new shares of its stock.
  • Berkshire Hathaway will invest $10 billion in Alphabet via a private deal.
  • The funds will support building AI infrastructure and increasing computing power worldwide.
  • Alphabet will raise $30 billion through public offerings of different types of stock.
  • An additional $40 billion will come from a stock sale program starting in the third quarter of this year.
  • Alphabet previously raised money by issuing a 100-year bond, which is rare for modern companies.
  • Big tech companies like Alphabet plan to spend over $750 billion on AI this year, possibly growing to $4 trillion by 2030.
  • Alphabet’s CEO says not investing enough in AI is riskier than investing too much.
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Axios
Southwest walks back part of its plus-size seating policy, but advocacy group says it’s not enough

Southwest walks back part of its plus-size seating policy, but advocacy group says it’s not enough

June 01, 2026 • The Hill

Summary

Southwest Airlines has decided to change parts of its new seating policy for plus-size passengers a few months after putting it in place. However, a group that supports travelers with larger bodies says the changes are still not enough.

Key Facts

  • Southwest Airlines recently introduced a new seating policy aimed at plus-size travelers.
  • The airline is now reversing or modifying some parts of this policy.
  • This change comes only a few months after the policy started.
  • An advocacy group representing plus-size passengers has spoken out about the policy.
  • The advocacy group feels the airline’s changes do not fully address their concerns.
  • The original policy affected how passengers with larger bodies are seated on planes.
  • Southwest has not fully detailed all the changes being made yet.
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The Hill
About 1 in 4 professionals is stuck in a mid-career stall, study finds

About 1 in 4 professionals is stuck in a mid-career stall, study finds

June 01, 2026 • CBS News

Summary

A new study found that about one in four white-collar workers have not had a promotion or significant raise for at least five years, a situation called a "mid-career stall." This stall can lead to losing tens of thousands of dollars in wages and missing out on important career opportunities.

Key Facts

  • The study tracked 1.3 million mid-career professionals over 25 years.
  • A "mid-career stall" means no promotion or meaningful pay raise for five years or more.
  • About 24.2% of mid-career workers are stalled in their jobs.
  • Mid-career is roughly 10 to 15 years after starting work.
  • Software developers who are stalled lose an average of $43,000 over 15 years.
  • Different industries have different stall rates, from 20.7% in IT to 30.2% in public administration.
  • Flatter company structures reduce chances for promotions compared to the past.
  • Workers should improve skills like leadership and communication to move forward.
  • Employers miss out on talent when workers do not advance.
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CBS News
Aspiration co-founder gets 14 years in prison

Aspiration co-founder gets 14 years in prison

June 01, 2026 • ESPN

Summary

Joseph Sanberg, co-founder of a green banking company that went bankrupt, was sentenced to 14 years in federal prison. His company is involved in an NBA investigation related to the Los Angeles Clippers.

Key Facts

  • Joseph Sanberg co-founded a green banking company.
  • The company went bankrupt.
  • Sanberg was sentenced to 14 years in federal prison.
  • The green banking company is part of an NBA investigation.
  • The investigation involves the Los Angeles Clippers basketball team.
  • The sentence was announced on a Monday.
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ESPN
Carnival data breach exposes info of nearly 6M cruise travelers

Carnival data breach exposes info of nearly 6M cruise travelers

June 01, 2026 • The Hill

Summary

Carnival Cruise Line said that a data breach in April exposed the personal information of nearly 6 million passengers. The company advised affected travelers to take precautions to protect their information.

Key Facts

  • Carnival Cruise Line experienced a data breach in April.
  • About 6 million cruise passengers had their personal information exposed.
  • Carnival notified the affected travelers about the breach.
  • Passengers were encouraged to protect their personal data after the incident.
  • Details about how the breach happened were not provided in the article.
  • The breach could increase the risk of identity theft or fraud for affected individuals.
  • Carnival is a major cruise company serving many customers worldwide.
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The Hill
$50,000 short-term CD vs. $50,000 money market account: Here's which will earn more interest now

$50,000 short-term CD vs. $50,000 money market account: Here's which will earn more interest now

June 01, 2026 • CBS News

Summary

This article compares how much interest you can earn on $50,000 using short-term certificates of deposit (CDs) versus money market accounts. It explains that CDs generally offer slightly higher guaranteed returns, while money market accounts provide easier access to funds and variable interest rates.

Key Facts

  • A short-term CD locks in a fixed interest rate for up to 12 months.
  • Money market accounts have variable rates that may change with the market.
  • Example rates used: 3-month CD at 3.90%, 1-year CD at 4.11%, money market at 3.90%.
  • Interest earned after one year on a $50,000 deposit is about $2,055 with a CD versus $1,950 with a money market account.
  • CDs are generally more profitable but limit immediate access to money until maturity.
  • Money market accounts allow easy access and check-writing but may earn less interest.
  • One strategy is to split savings between both types to balance higher returns and flexibility.
  • Interest rates are expected to remain stable for now, helping estimate earnings.
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CBS News
How much interest can a 2-year CD earn if opened this June?

How much interest can a 2-year CD earn if opened this June?

June 01, 2026 • CBS News

Summary

A 2-year certificate of deposit (CD) opened in June 2024 offers a fixed interest rate, protecting savers’ money from market changes for two years. The current top CD rate is about 4.16%, which lets savers know exactly how much interest they will earn by the time the CD matures.

Key Facts

  • The top 2-year CD interest rate in June 2024 is 4.16%.
  • Interest earned depends on the deposit amount; for example, $1,000 earns about $85, and $50,000 earns about $4,250 over two years.
  • A CD fixes the interest rate, so it does not change even if economic conditions shift.
  • CDs are insured by the FDIC up to $250,000, meaning deposits are protected against bank failure.
  • Early withdrawals can cause a penalty, so money should stay in the CD for the full two years to avoid fees.
  • Interest rates had several cuts in 2024 and 2025 but are now rising again due to inflation and economic conditions.
  • CDs are seen as a safe option to protect money during unstable market times.
  • Savers should choose an amount they can leave untouched for two years to make the most of the CD benefits.
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CBS News
CBS News veterans urge Paramount CEO to ‘uphold editorial independence’ at 60 Minutes

CBS News veterans urge Paramount CEO to ‘uphold editorial independence’ at 60 Minutes

June 01, 2026 • Guardian World

Summary

Several former and current CBS News and 60 Minutes staff wrote a letter to Paramount Skydance CEO David Ellison. They asked him to protect the show’s ability to report news freely after top producers and correspondents were recently fired. Some of the dismissed employees said the firings harmed the show's independence for political reasons.

Key Facts

  • CBS News fired the executive producer, executive editor, and two main correspondents of 60 Minutes last week.
  • Fired correspondents Sharyn Alfonsi and Cecilia Vega claimed the firings threatened the show’s editorial independence.
  • Over 20 CBS News veterans, including former 60 Minutes staff, signed a letter urging CEO David Ellison to keep the show editorially independent.
  • The letter said editorial independence is key to 60 Minutes’ success and trust with viewers.
  • Nick Bilton, a New York Times veteran, was recently named the new executive producer of 60 Minutes.
  • Lowell Bergman, a well-known former 60 Minutes producer, helped organize the letter.
  • Veteran correspondent Scott Pelley criticized CBS News leadership and said Weiss, the editor-in-chief, was harming 60 Minutes.
  • The letter encouraged management to publicly promise to maintain the show’s journalistic standards and independence.
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Guardian World