Jonathan Andic, son of Mango clothing founder Isak Andic, denies accusations of killing his father. He has stepped down as vice president of Mango’s board to focus on his legal defense after being arrested and released on bail in Spain.
Key Facts
Jonathan Andic is the son of Mango founder Isak Andic, who died in December 2024.
Isak Andic fell to his death while hiking in the Montserrat mountains near Barcelona.
Investigators first considered the death an accident but reopened the case in October 2025.
Jonathan Andic was arrested recently but released after paying one million euros (about $1.2 million) bail.
Jonathan denies the murder accusation, calling it unjust and false in a letter to Mango staff.
He has resigned as vice president of Mango’s board to focus on his legal defense.
Jonathan was appointed executive vice president of Mango’s holding company in January 2025, shortly after his father’s death.
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Home sellers in the U.S. are cutting prices less often than a year ago, showing signs that the housing market is balancing out. However, some regions, especially those that grew quickly during the pandemic, still see many price reductions.
Key Facts
In April, 16.7% of home listings in the U.S. had price cuts, which is 1.2% lower than last year but still higher than pre-2024 levels.
The median listing price for a typical U.S. home was $425,000 in April, down 1.4% from a year before.
Sellers are setting more realistic prices before listing homes, which gives buyers more negotiating power.
Some areas hit hard by pandemic growth, like Phoenix, Tampa, San Antonio, Denver, and Portland, have the most price cuts. Phoenix led with 29% of listings cutting prices in April.
In these markets, homes are not selling quickly due to a large number of homes for sale and weak demand at current prices.
The Northeast and Midwest housing markets are stronger and have fewer price cuts compared to the South and Sunbelt region.
Some homeowners are removing listings because they refuse to lower prices, especially those who bought homes at pandemic peak prices.
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B&Q, part of Kingfisher, saw lower sales of garden and barbecue products during a cold, rainy Easter but expects better results during a heatwave. While B&Q sales fell, its tool-focused brand Screwfix grew, helping Kingfisher keep its profit forecast steady.
Key Facts
Kingfisher owns B&Q, Screwfix, Castorama, and Brico Dépôt.
From February to April, Kingfisher’s sales fell 0.9% overall in the UK and Ireland.
B&Q sales dropped 4.1%, mainly due to poor weather affecting BBQ and garden product sales.
Screwfix sales increased by 4.1%, driven by trade customers who buy tools and materials for their jobs.
Seasonal products like garden furniture and plants make up 20% of Kingfisher’s sales.
Bathroom product sales fell, but kitchen sales grew by 4.5% with new product ranges.
Kingfisher expects a pre-tax profit between £565 million and £625 million for the year.
Sales to trade customers increased by 17% excluding Screwfix, showing growth in business buyers.
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Starbucks Korea is experiencing a large drop in sales because of a marketing campaign called "Tank Day." The campaign upset people because it seemed to reference a violent event against pro-democracy protesters in 1980, leading to public anger.
Key Facts
Starbucks Korea is owned by the Shinsegae Group, chaired by Chung Yong-jin.
The company released a marketing campaign called "Tank Day."
The campaign was seen as referencing a deadly crackdown on pro-democracy protesters in 1980.
Public reaction to the campaign has been very negative.
Chung Yong-jin apologized twice within two weeks due to the controversy.
Starbucks Korea is facing a significant loss in sales because of the backlash.
This event highlights the sensitivity around historical political events in marketing.
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A potential U.S.-Iran deal could reopen the Strait of Hormuz, allowing more oil to reach markets and changing the global oil supply. The recovery of exports and production will take time, and new fees or risks may affect shipping costs and oil prices.
Key Facts
The U.S.-Iran deal aims to reopen the Strait of Hormuz, a key route for oil shipments.
Clearing mines and resuming exports through the Strait could take at least 2-3 months.
Iran may charge new fees for oil tankers passing through the Strait, possibly costing the oil industry billions annually.
Oil market prices might include a permanent risk premium due to ongoing geopolitical tensions.
Some countries, like the UAE, are building pipelines to reduce reliance on the Strait of Hormuz.
Higher oil prices are encouraging increased U.S. oil production, reversing previous decline forecasts.
U.S. shale companies are planning to spend almost half a billion dollars more on drilling in 2026 compared to before the war.
The reopening of the Strait is uncertain and depends on vessel owners feeling safe navigating the area.
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The era when rich countries could borrow freely without facing higher costs or inflation appears to be ending. Rising inflation, government borrowing, and supply problems are causing interest rates to rise and become more unpredictable worldwide.
Key Facts
For many years, rich countries could spend and cut taxes without increasing borrowing costs or inflation.
Now, the global bond market signals that governments will face higher costs for borrowing money.
Supply problems, government debt, and money needed for artificial intelligence projects are driving inflation and demand for capital.
This leads to higher interest rates, making borrowing more expensive for homebuyers and companies.
Long-term government bond yields in the U.S., Japan, and the U.K. have recently hit their highest levels in years.
Investors in government bonds face risks from inflation reducing returns and future rises in interest rates.
Rising mortgage rates in the U.S. show the impact on everyday Americans.
Policymakers will face tougher choices balancing economic support and the risk of increasing borrowing costs.
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The U.S. Consumer Product Safety Commission (CPSC) has recalled two products sold on Amazon due to safety risks. These include PandaEar children’s hook-on dining chairs and HomeProGym resistance bands, both of which can cause serious injury if used.
Key Facts
About 9,700 PandaEar hook-on chairs were sold on Amazon from February 2022 to November 2025 for about $25 each.
The chairs were recalled because their removable crotch restraint could allow a child to slip through and fall.
Consumers are advised to stop using the chairs, cut the fabric and straps, and send photos to PandaEar for a refund.
Around 700 HomeProGym resistance bands sold from December 2025 to April 2026, priced between $40 and $296, are also recalled.
The resistance bands can detach from their handles and snap back, posing an impact hazard.
Five reports were made about the bands detaching, but no injuries have been recorded.
Users should stop using the affected bands, cut them, send photos to HomeProGym, and request a refund or $50 store credit.
The CPSC stresses immediate action to prevent potential injuries from these product failures.
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The boss of the UK retailer Next warned there has been a big drop in entry-level jobs, causing more young people to struggle to find work. He said the company now gets almost twice as many job applications per role as two years ago, showing a growing problem with youth unemployment. New rules on zero-hours contracts and higher costs for employers could make hiring even harder.
Key Facts
Next’s CEO, Lord Wolfson, said job applications for entry-level retail roles have nearly doubled from 10 to 19 per job since 2024.
This rise reflects a significant crisis in youth unemployment in the UK.
A government-commissioned report suggests current efforts to help young people not in education, employment, or training (NEET) have been ineffective.
Next supports banning zero-hours contracts but says the new law requiring guaranteed hours could make staffing more inflexible and costly.
More than one million people in the UK work on zero-hours contracts, often in sectors like retail and healthcare.
Next’s CEO asked the government to reverse increases in employer national insurance contributions and minimum wage hikes to help job growth.
Next reported strong sales growth and raised its full-year profit forecast to £1.2 billion.
Technology like self-service options is reducing the need for some entry-level jobs at Next.
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Ferrari introduced its first fully electric car, called the Luce, with a top speed of 310 km/h and a range of over 530 km. This comes as some rivals like Porsche and Lamborghini slow down their electric vehicle plans due to weak customer demand. Despite the new model, Ferrari’s stock price dropped sharply after the announcement.
Key Facts
The Ferrari Luce is the company’s first fully electric car and seats five people.
It has a top speed of over 310 km/h (190 mph) and can go more than 530 km on a full charge.
The Luce uses a large 122 kWh battery and fast charging can reach 80% in about 20-25 minutes.
The car is expected to cost over 700,000 euros ($815,000) after customization.
Ferrari designed the Luce with input from well-known designers Jony Ive and Marc Newson.
The car will be built in a new factory in Maranello, Italy, with first deliveries planned for late 2026.
Ferrari’s stock price fell 6% after the Luce was unveiled, as investors are unsure about the profitability of an expensive electric model.
Ferrari now expects electric vehicles to be 20% of its lineup by 2030, down from an earlier goal of 40%.
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A man named Dean from Bradford fell into £8,000 of debt due to many life problems like illness, job loss, and bereavement. A charity called Christians Against Poverty (CAP) helped him, and their report shows many people in Yorkshire struggle with growing debts mostly related to basic living costs, causing serious mental health issues.
Key Facts
Dean, aged 58, had debts of about £8,000 from catalogues and online credit after losing his job and facing health problems.
Dean attempted suicide three times due to the stress from debt.
Christians Against Poverty (CAP) helped Dean and many others cope with debt and its mental toll.
CAP’s report says the average debt for people seeking help is about £12,000, with payments taking almost nine years.
Most debts are now for essentials like food, fuel, school uniforms, and rent, not luxury items.
Only about 25% of CAP’s clients can repay their debts within a reasonable time, compared to 40% fourteen years ago.
Around 46% of people helped by CAP have considered or attempted suicide.
Debt advisers are seeing more calls from people in deep financial distress, unable to afford basic needs after paying rent.
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Warm weather during the bank holiday weekend brought more visitors to the South West of England, helping local tourism businesses after a slow start to 2026. Many shop, beach, and hotel owners said the summer season needs to be good because costs are rising.
Key Facts
Temperatures reached 31°C (88°F) in parts of the South West over the bank holiday weekend.
The hot weather led many people to visit beaches and coastal areas.
Tourism businesses reported more bookings and customers after a quiet Easter and a slow start to the year.
Owners say the cost of living and rising prices make business challenging.
Some guest houses and hotels in Torquay are for sale because owners cannot cover costs.
Last-minute bookings and shorter stays are common trends this year.
Local business owners hope for a strong summer to improve their financial situation.
A yellow heat health alert was in place until Wednesday during the hot period.
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Starbucks Korea saw a large drop in sales after a marketing campaign reminded people of a violent 1980 military crackdown on democracy protests, causing public anger. The local owner, Shinsegae Group, apologized, fired the Starbucks Korea head, and is investigating the issue while facing calls for boycotts.
Key Facts
The "Tank Day" campaign coincided with the anniversary of the May 18 Gwangju Uprising, when the military suppressed pro-democracy protests with tanks and troops.
Shinsegae Group owns Starbucks stores in South Korea through its subsidiary E-Mart.
The campaign caused anger because it was seen as insensitive to victims and families of the 1980 crackdown.
Shinsegae Group chairman Chung Yong-jin apologized publicly and asked people not to blame Starbucks employees.
The head of Starbucks Korea was fired due to the controversy.
Starbucks Global also apologized and started an investigation.
Sales have dropped sharply since the campaign began.
Government officials, including South Korea’s Interior and Safety Minister and President Lee Jae Myung, criticized the campaign and encouraged boycotts of Starbucks.
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UK consumers are expected to face higher prices for several months due to rising costs in energy, raw materials, and shipping disruptions linked to international conflicts. Retailers are trying to offer promotions, but businesses warn that without more government support, prices will continue to rise.
Key Facts
Global shipping problems and high energy and raw material prices are increasing costs for UK companies.
Shop prices rose by 1.2% year on year in May, with furniture and health products among the items that increased most.
Supermarket food price inflation was lower at 2.7%, helped by strong competition.
Only 16% of businesses say they are not affected by the conflict involving Iran.
80% of companies have been or expect to be impacted by higher energy costs, shipping problems, and raw material price rises.
Manufacturing firms are the hardest hit, with most already affected or expecting future impact.
Three-quarters of companies expect their energy bills to increase over the next year, with some worried about paying them.
Businesses are asking the government to reduce taxes on energy bills, cut red tape, and provide more financial help.
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Ferrari has introduced its first fully electric car, called the Luce, which is also its first five-seater model. The car features an electric motor on each wheel and can accelerate to 60 mph in about 2.5 seconds. Ferrari plans to offer this electric vehicle alongside petrol and hybrid cars.
Key Facts
The Ferrari Luce costs $640,000 and is expected to be available later this year.
It is designed in partnership with LoveFrom, a company led by former Apple design chief Jony Ive.
The Luce took five years to develop and uses all Ferrari-made components.
The car’s name, Luce, means “light” in Italian.
Ferrari’s rivals like Lamborghini and Porsche have reduced their electric vehicle plans due to weak demand and competition from Chinese makers.
Ferrari's CEO is Benedetto Vigna, and the company aims to keep repairing the car with its own parts to maintain resale value.
Some social media responses praised the design, while others criticized it for changing Ferrari’s traditional style.
Ferrari has seen a drop in shares over the past year, reflecting lower demand for luxury goods worldwide.
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Australia’s climate change minister, Chris Bowen, has told major polluters like BHP to reduce emissions at their sites. Leaked documents show BHP has delayed and dropped some climate actions, despite previous commitments and government rules requiring cuts in pollution.
Key Facts
Chris Bowen expects big polluting companies, including BHP, to cut emissions directly at their operations.
Leaked documents revealed BHP stopped a major project to cut global emissions and delayed renewable energy projects in Western Australia’s Pilbara region.
BHP also plans to postpone switching diesel trucks and trains to electric power for up to 20 years.
The safeguard mechanism is an Australian policy making about 200 large polluters cut emissions intensity (pollution per unit produced) each year.
Companies can meet targets by cutting pollution onsite or by buying carbon offsets, such as government-approved carbon credits or credits from emitting less than allowed.
The Albanese Labor government improved the safeguard mechanism in 2023 by tightening emission limits for facilities.
Minister Bowen wants all big polluters to reduce emissions onsite, not just buy offsets.
Resources Minister Madeleine King says BHP is meeting its responsibilities and making commercial decisions.
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Energy bills for homes and small businesses in parts of eastern Australia will drop by up to 10% starting in July. This is mainly because more renewable energy and battery storage are reducing reliance on coal and gas, which helps lower electricity prices.
Key Facts
Electricity prices will fall by up to 10.7% for households in South Australia, New South Wales, and southeast Queensland.
Small businesses will see even larger drops, up to 20.9%, in their electricity bills.
The Australian Energy Regulator sets a maximum price limit to protect consumers in these states.
New consumer rules from July 1 will stop price hikes during fixed contracts and ban unfair fees.
Renewable energy provided 43% of Australia’s electricity in 2025, up from 39% in 2024.
Australia is third worldwide in large-scale battery capacity, with 2 gigawatts connected to the grid.
Investment in new wind and solar projects dropped by 48% in 2025, raising concerns about future growth.
Home battery installations increased by 260% in 2025, helped by a government program lowering costs.
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The boss of retailer Next, Lord Wolfson, says entry-level jobs in the UK have dropped sharply, with more people applying for fewer positions. He also warns that new rules ending zero-hours contracts will make hiring harder and urges the government to reconsider increases in employer taxes and minimum wages to help create more jobs for young people.
Key Facts
Entry-level job applicants for Next shops nearly doubled from 10 to 19 people per job in two years.
Youth unemployment in the UK is 16.2%, much higher than the general rate of 5%.
A ban on zero-hours contracts starts next year, requiring more predictable work hours.
Lord Wolfson says high employer costs, including National Insurance and wage rises, make hiring harder.
The government says raising the minimum wage helped over 200,000 young workers and provides a £2.5 billion youth employment support package.
Next's physical stores have fewer staff, while its online business grows, using more technology like self-scanning lockers.
Next owns several well-known brands and employs over 30,000 people.
The company expects profits of £1.2 billion this year, with sales up 6.2% in the first quarter.
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Raaw Energy is recalling dog food products made between July 17, 2025, and December 23, 2025, plus one batch from March 31, 2026, over possible contamination with listeria bacteria. The affected products were sold in several northeastern U.S. states, and the company has stopped production temporarily while investigating the issue.
Key Facts
The recalled dog food may contain Listeria monocytogenes, which can cause illness in humans and pets.
Symptoms of infection in humans include vomiting, diarrhea, fever, and lethargy; severe cases can lead to meningitis, abortion, or death.
Pets may carry the bacteria without showing symptoms and spread it through saliva or feces.
The recalled products come in 2-pound or 5-pound clear tubes sealed with metal clips and frozen boxes containing 5 to 20 tubes.
The recall impacts customers in Connecticut, New Hampshire, New Jersey, New York, Delaware, Massachusetts, Maryland, Pennsylvania, and Virginia.
Not all products were tested, but some tested positive for Listeria by the New Jersey Department of Agriculture.
Production of the dog food was stopped on May 21 to review and fix the contamination problem.
Consumers are advised to stop using, selling, or feeding the recalled dog food and to dispose of it safely.
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Custard apple farming is growing in parts of India due to the fruit’s ability to withstand dry conditions and increasing demand. Farmers and scientists have developed new varieties that last longer, have more edible flesh, and are easier to sell, creating new business and export opportunities.
Key Facts
Custard apple trees can survive with little water, making them suitable for dry areas like Kolar in southern India.
Ashoka Shivareddy revived his family farm in 2018, growing custard apples using scientific methods and producing around 25 tonnes recently.
Traditional custard apple varieties have short shelf life and many seeds, limiting their market appeal.
Scientists at the Indian Institute of Horticulture Research developed a hybrid called Arka Sahan with longer shelf life and more pulp.
The hybrid increases the usable fruit from 30% to about 70%, doubling farmers’ effective yield without extra land.
Researchers are working on ways to keep the custard apple pulp from turning brown quickly after extraction to boost processed food uses.
Maharashtra produces about one-third of India’s custard apples, and farmer Navnath Malhari Kaspate created the high-yield variety NMK-01.
NMK-01 has helped expand exports of custard apples to Gulf countries and Europe for the first time at a large scale.
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France's energy company EDF is about to start taking apart the Fessenheim nuclear power plant. The project will cost €1.4 billion and is expected to take 22 years to complete. The plant, which began operating in 1971, has been closed since 2020 due to safety concerns.
Key Facts
The Fessenheim nuclear plant is located on the border between France and Germany.
It has two reactors and is the oldest nuclear facility in France.
The plant operated for 43 years before shutting down in 2020.
Safety problems were a main reason for closing the plant.
EDF, France’s main electricity company, will handle the dismantling.
The decommissioning project costs about €1.4 billion.
The process is expected to last 22 years.
The project includes carefully taking apart and disposing of the nuclear equipment.
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