The UK government is investing £71 million into reopening the Hemerdon tungsten and tin mine in Devon. This funding will help restart mining operations, with half of the tungsten produced kept for use within Britain.
Key Facts
The National Wealth Fund will provide £71 million to Tungsten West to reopen the Hemerdon mine near Plymouth.
The investment includes £36 million in equity and up to £35 million in loans.
Hemerdon holds one of the world’s largest tungsten deposits.
Tungsten is important for industries like steel, electronics, aerospace, defense, and energy.
The government plans to reserve 50% of the mine’s production for UK use.
The mine aims to reach full production by 2027.
This investment supports economic growth and job creation in the South West of England.
The project builds on recent government investments in mining, like funding to reopen a tin mine in Cornwall earlier in 2025.
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Two planned datacentres in England are expected to produce more carbon emissions than ExxonMobil’s total UK emissions. Experts warn this could harm the UK’s climate goals, as these datacentres will use a lot of power and some plan to run on their own gas-fired power stations.
Key Facts
The Wapseys Wood and Quest Park datacentres will use 1.3 gigawatts of power and produce over 4.5 million tonnes of carbon emissions annually.
ExxonMobil’s UK emissions in 2023 were 3.9 million tonnes.
There are 315 datacentres waiting to connect to the UK electricity grid, which would demand 73 gigawatts—almost twice the UK’s peak winter energy use.
Due to delays in connecting to the grid, the two datacentres plan to build their own gas power plants on-site.
The government says the emissions estimates are misleading because they assume the datacentres operate at full capacity from the start.
Critics argue that it is reasonable to estimate emissions at full capacity since that is the goal for these datacentres.
The government claims there are ways to meet climate targets despite datacentre growth, but uncertainty remains.
The two datacentres are being fast-tracked by the government, bypassing local planning, which has raised concerns among campaigners and politicians.
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This episode of Money Moves with Jill Schlesinger gives career advice. It discusses choosing between a good mentor and a higher salary, when it makes sense to change careers, and whether owning a business is better than working for someone else. It also covers office dress codes, saying men should not wear shorts to work.
Key Facts
The episode focuses on career and money advice.
It explores the choice between working for a great mentor or getting a bigger paycheck.
It talks about when switching career fields might be a good idea.
It compares owning a business with being an employee.
The hosts say men should not wear shorts to the office.
They also discuss personal spending habits on accessories.
The show is part of CBS News programming.
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OnlyFans, a subscription-based content platform known for adult material, made $714 million in profit before tax in 2025. The company’s owner, Leonid Radvinsky, who died earlier this year, received over $700 million in dividend payments before his death, and the company is now owned by his widow.
Key Facts
OnlyFans made $714 million profit before tax in 2025, a 5% increase from the previous year.
Owner Leonid Radvinsky was paid over $700 million in dividends before he died from cancer at age 43.
OnlyFans has 132 million paying subscribers and 2.5 million active content creators as of 2025.
The site takes a 20% cut from all payments made to creators.
OnlyFans employs only 47 people, which is very small for a company with such high profits.
The platform’s popularity rose sharply during the Covid-19 pandemic.
The company faced regulatory scrutiny over age verification and content safety, including a UK investigation that ended with a fine of about £1 million.
OnlyFans CEO stated the company has paid over $30 billion to content creators since its start and has contributed over £600 million in UK corporate taxes.
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Data centers in the U.S. are receiving massive investments, mainly from big tech companies like Amazon and Microsoft, to support AI development. This growth creates challenges such as competition for resources, strain on the electrical grid, and political debates about their construction.
Key Facts
The top five large tech companies plan to spend over $750 billion on data centers this year, a 67% increase from last year.
About 75% of this spending is for AI-related infrastructure.
Data centers require a lot of physical resources like land, cooling systems, and energy, leading to competition with other industries.
Utilities expect electric demand to increase six times more by 2030 than previously thought, mainly due to data centers.
Political leaders on both sides support limiting or pausing new data center projects because of concerns about jobs, environment, and energy use.
There are around 4,000 data centers in the U.S., with 580 classified as very large "hyperscale" facilities.
In early 2026, about 75 data center projects worth roughly $130 billion were delayed due to political reasons.
Building a large data center typically costs around $2.1 to $2.4 billion and employs about 50 people for operations, with up to 1,500 workers needed during construction.
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The cost of after-school care for primary school children in parts of the UK has risen significantly over the past decade, now exceeding £2,800 per child in some areas. Parents also face high expenses for holiday childcare, school uniforms, and extracurricular activities, which add to their financial stress.
Key Facts
After-school childcare costs in England have increased by 42% over the last 10 years, reaching an average of £2,636 per year.
In Scotland, the average yearly cost is £2,701, and in Wales it has risen by 64% in 10 years to £2,824.
Holiday childcare costs add about £191 per child each week, totaling over £1,700 annually.
Extracurricular activities such as sports and music lessons cost around £700 per year.
Parents spend an average of £381 yearly on school uniforms and sports equipment.
Nearly half of UK parents feel stressed about the costs of sending children back to school.
Some families adjust their work schedules to reduce childcare costs.
Additional school equipment costs, like tablets and special calculators, add to parents’ financial burdens.
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Saudi Arabia is investing six billion euros to build a large manga-themed amusement park near Paris. This project follows a recent visit by Saudi Arabia’s Crown Prince to France and is part of the country’s economic investment in the region.
Key Facts
The amusement park will have a manga theme, which is a style of Japanese comic books and cartoons.
It will be located in the greater Paris area.
The total investment amount is six billion euros.
The project is backed by Saudi Arabian money.
The announcement came shortly after the Crown Prince of Saudi Arabia visited Paris.
This investment is part of Saudi Arabia’s efforts to invest economically in France.
Manga-themed attractions are gaining popularity worldwide, combining culture and entertainment.
This is one of the largest foreign investments in France related to entertainment and tourism.
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Gold prices reached their highest level in over three months due to ongoing conflict in the Middle East and uncertainty about US economic policies under President Trump. The price rose about 15% in August, as investors see gold as a safe choice during unclear times, with concerns over US inflation, bond markets, and international tensions influencing the rise.
Key Facts
Gold price hit $4,651 an ounce on Tuesday, the highest in over three months.
Gold is considered a safe investment when there is political or economic uncertainty.
The price of gold rose about 15% during August, heading for its best monthly gain since 1999.
Tensions between the US and Iran, including conflict and sanctions, have increased gold prices.
Investors are also cautious about US inflation and the new Federal Reserve chair’s upcoming speech.
President Trump recently announced new tariffs on cars and raw materials from Canada.
Bitcoin also rose to a three-month high, influenced by a weaker US dollar and similar factors as gold.
Higher oil prices and expected interest rate increases can sometimes reduce gold demand despite conflict.
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Lego's sales rose by 21% in the first half of 2026, helped by new products tied to the World Cup, Formula One, and popular films. The company also increased profits by 32% and is investing in solar energy and sustainable packaging.
Key Facts
Lego's revenue reached 41.9 billion Danish kroner (£4.8 billion) in the first six months of 2026.
Sales to consumers grew by 22%, with strong growth in the Americas, Europe, and Asia Pacific.
Net profit rose 32% to 8.6 billion Danish kroner (£1 billion).
Lego introduced 330 new products, including a Smart Play kit with bricks that glow and make sounds.
The company is building its largest solar power installation in Billund, Denmark, with 160,000 panels to meet its electricity needs.
Lego is shifting to paper bags for packaging and expects to complete this transition by next year.
Adults, called "kidults," are buying more expensive Lego sets and collectibles, making up a significant part of toy sales.
Toys now connect to sports, films, and TV shows, showing how play is becoming part of wider cultural trends.
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The United States, under President Donald Trump, has imposed 50 percent tariffs on about $20 billion worth of Canadian goods, including items like hockey sticks and agricultural products. Canada plans to respond with its own tariffs starting September 8, escalating a trade conflict between the two neighboring countries.
Key Facts
President Trump applied new 50 percent tariffs on select Canadian imports starting August 22, 2026.
The tariffs affect goods totaling around $20 billion, about 5 percent of Canada’s yearly exports to the U.S.
Products targeted include hockey sticks, wine, cement, honey, seeds, makeup, clothing, and furniture.
These tariffs also impact items previously protected under the US-Mexico-Canada Agreement (USMCA).
Canada announced it will impose retaliatory tariffs of equal value beginning September 8, 2026.
Ontario’s Premier Doug Ford warned that the province might cut off electricity and critical minerals to the U.S. if the trade dispute worsens.
President Trump threatened additional tariffs on Canadian automobiles next year.
The tariffs are based on Section 338 of the Tariff Act of 1930, a law from the Great Depression era rarely used before.
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Scott Bessent, US Treasury official, is trying to lower government borrowing costs by buying back bonds. Billionaire investor Stanley Druckenmiller warns this approach may fail and says the US should reduce its budget deficit instead of interfering in the bond market.
Key Facts
Scott Bessent plans to increase Treasury bond buybacks from $2 billion to $4 billion.
Stanley Druckenmiller, Bessent’s former mentor, argues that government efforts to control bond prices usually fail.
Druckenmiller suggests the US should allow bond yields (borrowing costs) to rise and focus on cutting the budget deficit.
The US national debt reached $40 trillion, with an expected annual deficit of $2 trillion this year.
Bond yields go down when bond prices go up, and vice versa.
Bessent may use the Treasury’s $1 trillion General Account at the Federal Reserve to buy more bonds.
Druckenmiller says that fiscal reforms would lower long-term interest rates more effectively than bond buybacks.
Rising borrowing costs show Washington’s concern about managing the US debt situation.
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Australia's recorded music industry will ban songs made entirely by artificial intelligence (AI) from its official music charts starting next week. Songs that have some AI help but are mainly created and performed by humans can still compete. This rule aims to protect artists and ensure the music charts reflect human creativity.
Key Facts
Australia’s music industry will stop songs fully made by AI from appearing on official charts.
Some songs partly assisted by AI but mainly made by humans will still be allowed.
The ban includes exclusion from the prestigious ARIA music awards.
Songs qualify only if humans wrote the lyrics and performed the main vocals and instruments.
AI-created music must come from legal AI tools, not unauthorized uses of other artists’ music.
The rule follows new global guidelines saying charted songs must be mostly made by humans.
An AI version of Madonna’s “Like a Prayer” was a top hit in Australia for weeks.
Industry leaders say the change protects human creativity while adapting to new technology.
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Bathla Group, a major home builder in Australia, has entered voluntary administration due to rising costs, fewer sales, and other challenges. The company aims to restructure its business and continue building homes while working with administrators and partners.
Key Facts
Bathla Group is a large Australian home builder and property developer founded in 1997.
The company entered voluntary administration, meaning it is restructuring its business to handle financial difficulties.
Causes include higher building material costs, labor shortages, fixed-price contracts, and softer home sales.
Bathla’s founder Bhart Bhushan described the situation as a “perfect storm” of problems.
The company hopes to keep building housing in western Sydney and other key markets.
Teneo has been appointed as the administrator to manage the restructuring.
Over 1,500 construction firms in New South Wales collapsed in the 2025/26 financial year.
Bathla has expanded operations beyond New South Wales into South Australia and Victoria.
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Asian stock markets showed mixed results while oil prices stayed steady. The U.S. increased sanctions on Iran, warning others not to do business with the country, adding to market uncertainty.
Key Facts
Asian stock markets moved in different directions with Tokyo’s Nikkei up 0.4% and South Korea’s Kospi down 0.4%.
Oil prices did not change much despite new U.S. sanctions on Iran.
U.S. Treasury Secretary Scott Bessent announced fresh sanctions and warned of consequences for countries working with Iran.
U.S. stocks had a mixed finish: the S&P 500 fell 0.3%, the Dow Jones rose 0.3%, and the Nasdaq dropped 0.8%.
Tech stocks led the recent declines due to concerns over artificial intelligence (AI) stock prices and demand for AI-related chips.
Nvidia, a major AI chip maker, fell 2.9% and is expected to release earnings soon.
Bond market yields eased slightly after the U.S. Treasury announced increased buybacks of government bonds.
Analysts say the bond buybacks are too small to solve deeper problems in the market.
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An Australian court found that dating site eHarmony misled customers with confusing subscription plans that automatically renewed and cost users hundreds of dollars. The court ruled that eHarmony’s website gave wrong impressions about free memberships and subscription costs, causing many customers to be charged without clear consent.
Key Facts
The Australian Competition and Consumer Commission (ACCC) sued eHarmony in 2023 over misleading subscription claims.
eHarmony told users they could communicate for free, but important subscription costs and automatic renewal details were unclear.
Around 1.3 million Australians signed up for basic memberships from 2019 to 2024; about 259,000 paid for premium plans.
Nearly 45,000 users had their subscriptions automatically renewed; over 7,000 had renewals two or more times.
Many customers did not realize their subscriptions would renew automatically and were charged hundreds of dollars.
Some users faced debt collection efforts after disputes over charges.
The court said eHarmony should have clearly shown that subscriptions would renew at higher, non-discounted prices.
eHarmony said it is reviewing the ruling and has updated its platform to be more transparent.
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A severe drought in Somerset has caused apple trees used for cider-making to produce far fewer apples than usual, with many apples dropping early or rotting. Cider producers are facing lower harvests this year, although demand for cider has been strong due to hot weather.
Key Facts
Somerset's cider orchards have been heavily affected by a long summer drought.
Many apple trees produced very little or no fruit because of stress from the dry weather.
Kimberly Jones’ orchard produced only about 10% of its usual apple crop.
Some orchards have apples that fell early and have rotted before ripening.
George Scott’s cider farm, normally harvesting 20-30 tonnes of apples, has very little fruit this year.
Cider makers have some stock saved from previous years but worry about ongoing drought impacts.
Hot weather increased cider sales, but the shortage of apples threatens future production.
Climate experts warn that more hot and dry summers may continue, putting orchards at risk.
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A food writer in Bristol created a fake restaurant to test food influencers’ honesty and found some would promise positive reviews for free meals without saying their posts were ads. UK rules require paid promotions, including free meals, to be clearly marked as ads. Some influencers and critics say it is important to be honest and transparent about promotions to maintain trust.
Key Facts
A Bristol food writer created a fake Japanese restaurant to test influencer reviews.
She contacted 48 influencers; 33 responded with varying prices for promoting the fake restaurant.
Some influencers would post positive content in exchange for free food without labeling it as an advertisement.
UK advertising rules require paid posts and free meal exchanges to be clearly marked as ads.
Influencer Oscar Bostock says credibility and authenticity are important, and he only promotes places he values.
Food critic Jay Rayner believes honest, truthful restaurant reviews remain important despite more media around food.
The study showed social media often has repetitive, positive messages about restaurants, which may mislead customers.
Transparency about paid promotions helps consumers know when they are seeing an advertisement versus an honest opinion.
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Australia has banned songs mostly or entirely made by artificial intelligence (AI) from its official music charts. The Australian Recording Industry Association (ARIA) now requires songs to be mostly made by humans to be eligible for charts, while still allowing some AI tools under human control.
Key Facts
Songs must be "substantially human made" to appear on Australia’s official music charts.
AI can be used in music mastering and effects, but humans must write and perform the main parts.
The rule follows a controversy with an AI-assisted cover of Madonna’s "Like A Prayer" that was popular on charts and streaming services.
Artists must declare any AI use when submitting songs for chart consideration.
If AI-made music is found after charting, ARIA can change its position and ask for awards to be returned.
The new code aims to protect human artistry in a crowded music market.
Other regions, including Sweden and parts of Latin America, have also created AI music chart rules.
Australian Prime Minister Anthony Albanese supports strong protections for creatives against unauthorized AI use.
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Europe’s heatwaves are causing more insurance claims, especially for life and health insurance, due to heat-related deaths and worsening health issues. This may lead to higher insurance costs for customers as companies try to cover these growing expenses.
Key Facts
Europe is experiencing intense heatwaves that increase drought and wildfire claims for insurers.
Life and health insurers, along with reinsurers (companies that insure insurers), face rising costs from heat-related deaths and health problems.
The ageing population in Europe is more vulnerable to heat, increasing life insurance claims.
Between 2004 and 2024, the percentage of Europeans aged 65 and older rose from 16.4% to 21.6%.
Most excess deaths during recent heatwaves (about 9,000 out of 10,650) occurred in people aged 65 and above.
Older adults are more affected by heat because their bodies cool down less effectively.
Recent heatwaves in Europe have caused thousands of excess deaths and broken temperature records.
S&P has not yet downgraded insurers but warns risks may rise as heatwaves become more frequent and the population ages.
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Woolworths’ popular Disney-themed Ooshies toy collection has caused a temporary drop in sales at rival supermarket Coles in Australia. The Ooshies promotion encouraged customers to shop at Woolworths to collect toys, changing shopping habits and sparking a resale market.
Key Facts
Woolworths offered a promotion giving customers a collectible Disney Ooshie toy with every $30 spent.
The Ooshies come in random packaging, so kids open packs to find and trade different characters.
Coles reported a sales slump linked to Woolworths’ Ooshies promotion, affecting mainly physical store sales.
Woolworths ran out of Ooshies early due to strong demand.
The toys have created a trading culture among children, including swapping games and battles.
Some schools and after-school centers banned Ooshies due to conflicts and distractions from trading.
Many adults are buying and trading Ooshies online, with a large Facebook swap group created for collectors.
The promotion led nearly two-thirds of parents to change shopping patterns, often favoring Woolworths.
Environmental concerns arise about the long-term impact of producing many small plastic toys.
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