Coles and Woolworths have tested facial recognition technology in their supermarkets to help reduce retail crime and protect staff, but have not decided whether to use it permanently. Privacy advocates warn this technology raises concerns about shoppers’ personal data and the risks of incorrect identification.
Key Facts
Coles and Woolworths tested facial recognition technology in some stores but have not made final decisions to install it widely.
The technology scans shoppers’ faces and creates a unique faceprint to compare against a list of known aggressive or banned individuals.
The supermarkets aim to use the technology to reduce crime and protect staff from aggression and violence.
Privacy experts warn this kind of technology may invade customer privacy and lead to misuse of biometric data.
People of colour are more likely to be wrongly identified by facial recognition systems compared to white people.
Bunnings received approval from a tribunal to use facial recognition despite privacy concerns from previous rulings.
Coles said their test did not use real customer or employee data, and Woolworths tested the technology in New Zealand offices.
Both supermarkets said they will continue exploring ways to improve safety while considering privacy impacts.
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A trust company linked to the Trump family’s crypto business, World Liberty Financial, has received conditional approval to start a bank. This bank would allow the company to issue and manage its own stablecoins, a type of digital currency, without needing a middleman.
Key Facts
The Office of the Comptroller of the Currency (OCC) gave preliminary approval to World Liberty Trust Company to create a bank charter.
World Liberty Financial was founded in 2024 by President Trump’s sons and the sons of Steve Witkoff, a Trump administration envoy.
The Trump family owns about 38% of World Liberty Financial through an affiliated entity.
Critics including some Democrats say the approval creates a conflict of interest because of the Trump family’s involvement.
Senator Elizabeth Warren and other Democrats plan to introduce a law to stop the president, vice president, and their families from controlling banks.
World Liberty says there are firewalls in place to keep the Trump family out of the bank’s direct operations while President Trump is in office.
The company emphasizes it will operate under strong federal oversight from the OCC.
President Trump earned at least $1.4 billion last year from cryptocurrency ventures, but says he is not involved in daily business activities.
World Liberty must meet more requirements before it gets full approval to operate as a bank.
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A new study reveals that the amount of money needed to live comfortably changes depending on the state and the size of a family. Different places have different costs for housing, food, and other living expenses.
Key Facts
The cost to live comfortably is not the same in every state.
Family size affects how much income is needed to cover expenses.
This study looks at basic expenses like housing and food.
Some states have higher costs for daily living than others.
The study helps people understand how much they need to earn to have a comfortable life where they live.
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Nvidia revealed it owns nearly 123 million shares in SpaceX, worth about $21 billion at the end of June. This shows how Nvidia is financially connected with SpaceX and other AI companies, supporting their growth through investments and partnerships.
Key Facts
Nvidia owns almost 123 million SpaceX shares, valued at $21 billion as of June.
SpaceX shares dropped in value since their June initial public offering, making Nvidia’s stake now worth about $17 billion.
Nvidia invested in xAI, which Elon Musk merged with SpaceX.
SpaceX has an exclusive partnership with Nvidia to use its AI computing technology in their data centers.
Nvidia has invested over $100 billion in AI companies in the last two years.
Nvidia is gathering over $500 billion with other investors to help finance its customers using chip-backed loans.
SpaceX plans to grow its computing power from 2 gigawatts now to around 10 gigawatts by 2027.
Other major investors in SpaceX include Google, which owns about 7% of the company valued at $94 billion.
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Homeowners today can choose between two main ways to borrow against their home’s value: a home equity line of credit (HELOC) or a home equity loan. HELOCs offer flexible access to money with usually lower interest rates but variable rates, while home equity loans provide a fixed amount with a steady interest rate that won’t change over time.
Key Facts
HELOCs let borrowers access a credit line over about 10 years and only pay interest on the money they use.
The average interest rate for HELOCs is around 7%, which is about 1% lower than home equity loans right now.
Home equity loans give a one-time lump sum with a fixed interest rate lasting 5 to 30 years.
Fixed rates on home equity loans protect borrowers from interest rate increases.
HELOC rates can rise or fall because they change with the Federal Reserve’s prime rate plus a margin.
Experts say home equity loans are better when interest rates are rising, while HELOCs are better when rates are stable or falling.
HELOCs may tempt borrowers to withdraw more money than needed, while home equity loans limit borrowing to a set amount.
Knowing your fixed payment with a home equity loan can help with budgeting when other costs are unstable.
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The U.S. Department of Defense awarded Raytheon a nearly $23 billion contract to speed up production of Tomahawk cruise missiles over seven years. This comes after the U.S. used many of these missiles during the war with Iran, reducing its stockpile.
Key Facts
Raytheon received a $23 billion Pentagon contract for Tomahawk missile production.
The contract covers a seven-year period.
Raytheon plans to increase annual missile production to over 1,000 units, about five times recent production levels.
In the first half of 2026, Raytheon produced three times more Tomahawks than in the same period in 2025.
Tomahawks are long-range cruise missiles launched from ships like U.S. Navy destroyers.
The U.S. has been using Tomahawks since the 1980s.
Since February, the U.S. has used nearly half of its Tomahawk stockpile, firing over 1,000 missiles during the Iran war.
The Tomahawk missile allows the Navy to strike targets from far away without risking sailors’ lives.
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Sainsbury’s paused the use of AI face scanning technology in one of its stores after a customer was wrongly accused of shoplifting and asked to leave. The company apologized and is investigating the situation, while the customer expressed concerns about the potential risks of AI in retail.
Key Facts
A customer, Matt Arnold, was falsely identified as a shoplifter by AI facial recognition at a Sainsbury’s store in East Dulwich, London.
Arnold was asked to leave the store by managers without proper investigation of the situation.
The store used Facewatch, a facial recognition system aimed at identifying shoplifters to protect staff.
After the incident, Sainsbury’s apologized and paused the AI scanning technology at that specific store.
Arnold and others have called for the technology to be suspended in all stores until it can guarantee flawless operation.
Similar false accusations using Facewatch have happened before in other UK stores, including at Home Bargains and B&M.
Sainsbury’s said the mistake was due to human error, not the technology, which it claims is 99.98% accurate.
Facewatch stated the system worked correctly in this case, sending a valid alert to the retailer.
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Government borrowing costs are rising to their highest levels in many years in France, Germany, Japan, and the United States. Investors worry that inflation will stay high because of the Middle East crisis, causing bond yields to increase as countries pay more interest to borrow money.
Key Facts
French 30-year bond yields reached 4.8558%, the highest since 2008.
Germany’s 10-year bond yield rose to 3.2138%, the highest since 2011.
Japan’s 10-year government bond yield hit 2.93%, the highest since 1996.
The US 30-year Treasury yield climbed to 5.29%, the highest since 2007.
Investors expect central banks to raise interest rates to control inflation.
Japan faces a dilemma between supporting growth and managing inflation.
Rising oil and gas prices contribute to inflation concerns.
Government debt is more expensive to finance due to higher borrowing costs.
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A bank regulator appointed by President Donald Trump has given conditional approval for World Liberty Financial to become a bank. World Liberty Financial is a cryptocurrency company started by President Trump’s sons and the sons of Steve Witkoff, a special envoy.
Key Facts
World Liberty Financial is a crypto business linked to President Trump’s family.
The company was founded by President Trump’s sons and the sons of Steve Witkoff.
Steve Witkoff is a special envoy.
A bank regulator appointed by President Trump reviewed the application.
The regulator granted conditional approval for World Liberty Financial to become a bank.
Conditional approval means the company can proceed but must meet certain requirements.
This approval marks a step for a crypto company moving into traditional banking.
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Many young people find dating too expensive and are choosing not to go on dates because of the high costs involved. However, there are affordable or free ways to spend time with someone and get to know them without spending a lot of money.
Key Facts
Dating costs, like $150 for dinner and drinks, are seen as too high by many young singles.
Some people suggest enjoying the date itself rather than worrying about finding love immediately.
Low-cost date options include free museums, parks, beaches, and other public activities.
When one person earns much more than the other, money can create tension in the relationship.
Some believe dating should wait until people are more financially stable.
Dating requires both money and emotional time, which can be difficult during tough economic times.
The author shares a personal experience of feeling financially stressed while dating someone who paid for most expenses.
There is advice to be thrifty and enjoy simple moments instead of expensive outings.
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Au Vodka, a drinks company based in Swansea, is reportedly close to being sold for £500 million to Sazerac, the owner of Southern Comfort and BuzzBallz. The founders, Charlie Morgan and Jackson Quinn, are expected to each earn over £100 million from the sale.
Key Facts
Au Vodka is based in Swansea and was founded in 2015 by Charlie Morgan and Jackson Quinn.
The company is known for its gold-colored vodka bottles and ready-to-drink cans.
Sazerac, which owns Southern Comfort and BuzzBallz, is the potential buyer.
The deal is worth about £500 million.
Co-founders Morgan and Quinn could each make over £100 million from the sale.
Au Vodka grew quickly, partly due to celebrity endorsements like DJ Charlie Sloth and YouTube star Jake Paul.
The firm opened a new headquarters in Swansea in 2025 with a unique gold theme, including gold-wrapped cars and a themed mini golf course.
Charlie Morgan gained early media attention in 2013 as a Swansea City ball boy involved in a football incident with Eden Hazard.
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The article discusses how the growth of clean energy depends on mining minerals needed for technologies like batteries and solar panels. It says that mining these minerals can be done responsibly while also protecting the environment.
Key Facts
Clean energy technologies require minerals such as lithium, cobalt, and nickel.
Mining these minerals is necessary to support the transition to renewable energy.
Responsible mining means extracting minerals in ways that minimize harm to people and nature.
Strong environmental protections can be maintained alongside mineral development.
The article suggests that responsible mining and environmental care are complementary goals.
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Virgin has been given permission by the UK regulator to run up to 20 daily train services through the Channel Tunnel between London and destinations like Paris, Brussels, and Amsterdam. This approval, valid from 2030 to 2040, is a major step towards ending Eurostar’s long-held monopoly on the route, although Virgin still needs to secure trains and approvals before starting.
Key Facts
The UK’s Office of Rail and Road (ORR) approved Virgin to run up to 20 daily return trips through the Channel Tunnel.
The approval covers travel from London’s St Pancras station to the Channel Tunnel, starting in October 2030 until December 2040.
Eurostar has been the only passenger train operator through the Channel Tunnel since 1994.
Virgin must still get safety clearances from UK and EU authorities and secure train access in mainland Europe.
Virgin plans to buy 12 high-speed trains from train maker Alstom for these services.
Italy’s FS Italiane Group is also planning to run trains through the tunnel using its Trenitalia France subsidiary.
Last year, Virgin got permission to share a key rail depot in London with Eurostar, helping their preparations.
Eurostar said it remains committed to investing in its own services and expects to carry 30 million passengers annually.
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Wildfires are causing utilities in the U.S. to redesign the electric grid to better resist fire damage. As wildfire seasons worsen, utilities are planning long-term upgrades, such as burying power lines and using microgrids, to make the grid more reliable and safer.
Key Facts
This year's wildfire season has more fires and burned acres than the average of the last 10 years.
Utilities are using weather and wildfire data to guide where to invest in making the grid stronger.
Burying power lines underground helps protect against wildfires and other disasters like hurricanes and storms.
Old power infrastructure is a major problem that utilities must manage alongside building new systems.
California was one of the first states to require utilities to publish wildfire resilience plans.
Some utilities use microgrids to keep power running during wildfires by disconnecting parts of the grid.
Utilities have spent billions on wildfire prevention and often must balance costs with safety improvements.
Expanding and upgrading the U.S. electric grid includes efforts to build in more wildfire resilience.
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Virgin Trains has received approval from the UK rail regulator to run up to 20 daily passenger services through the Channel Tunnel between London and cities like Paris, Brussels, and Amsterdam starting in 2030. This decision allows Virgin to challenge Eurostar’s long-standing control over international rail travel through the tunnel.
Key Facts
The Office of Rail and Road (ORR) granted Virgin Trains track access for services from October 2030 to December 2040.
Virgin Trains can run up to 20 new daily return trips on the cross-Channel route.
Virgin was previously given access to Eurostar’s Temple Mills depot in London to maintain and store trains.
Eurostar has had a monopoly on passenger rail services through the Channel Tunnel since 1994.
Virgin plans to run trains from London’s St Pancras station to Paris, Brussels, and Amsterdam.
Virgin aims to invest £700 million in this project and expects to create around 400 UK jobs.
Virgin still must secure access to other rail networks and obtain safety approvals from UK and EU regulators before starting the services.
The ORR sees this as a step toward increasing competition and growth in international rail travel from the UK.
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Jamie Dimon, the head of JP Morgan, asked UK Chancellor John Healey not to raise taxes on bank profits in his upcoming budget. Dimon warned that higher taxes on banks might lead to job losses and hurt the business environment in the UK.
Key Facts
JP Morgan CEO Jamie Dimon spoke with Chancellor John Healey about avoiding tax hikes on banks.
There is speculation about a new windfall tax on UK banks to help fund Andy Burnham’s cost of living plans.
Campaigners estimate such a tax could raise £19 billion.
UK banks currently pay a 28% corporation tax and an extra tax on their balance sheets, higher than standard rates.
Dimon has previously said raising bank taxes could have bad effects on business.
JP Morgan plans to build a large new office in London if the UK business environment remains positive.
The UK’s four biggest banks made £29.2 billion in profits in the first half of the year.
Nearly half of those profits were paid out to investors via dividends and share buybacks.
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Japan’s economy grew by 0.3% in the second quarter of 2026, which is slower than expected and less than the previous quarter’s growth. The growth was mainly supported by strong exports, but weak consumer spending and lower business investments weighed down overall economic activity.
Key Facts
Japan’s GDP grew 0.3% from April to June 2026, below the forecast of 0.5%.
This growth marks the third quarter in a row of economic expansion.
On an annualized basis, Japan’s economy grew 1.1%, underperforming the expected 1.67%.
Private consumption (what people buy) stayed flat, and capital spending by companies fell by 1.2%.
Net exports contributed positively (+0.5%) to GDP growth, while domestic demand reduced it (-0.2%).
Rising energy costs and a weak Japanese yen have increased financial pressures on consumers and companies.
The Bank of Japan raised interest rates to 1% in June, its highest level in over 30 years, aiming to move away from very low borrowing costs.
Japan’s stock market and other regional markets like South Korea and Hong Kong showed gains following the report.
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Asian stock markets mostly rose Monday, following a small drop in U.S. stocks after weaker economic data. U.S. stock futures and oil prices remained steady amid concerns about economic growth and inflation.
Key Facts
Tokyo’s Nikkei 225 index rose 0.3% after Japan reported its economy grew 1.1% yearly in the second quarter.
Hong Kong’s Hang Seng increased by 1.6%, and Shanghai’s index went up 0.8%.
U.S. stocks fell slightly on Friday after reports showed consumers spent less in July.
The Federal Reserve may keep interest rates low due to slower growth but high inflation remains a concern.
Oil prices stayed mostly steady with Brent crude at $88.62 per barrel and U.S. crude at $82.19 per barrel.
The Strait of Hormuz is nearly closed, raising concerns about oil supply stability from the Middle East.
Major U.S. retailers like Home Depot, Target, Lowes, and Walmart will report earnings this week.
The Federal Reserve will release meeting minutes on Wednesday to clarify its interest rate plans.
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Sainsbury's stopped using facial recognition cameras at a London store after a customer was wrongly accused of shoplifting and asked to leave. The supermarket said the mistake was due to human error, not the technology, and apologized to the customer while promising to investigate.
Key Facts
A customer named Matt Arnold was mistakenly flagged as a shoplifter by AI-powered cameras at Sainsbury's East Dulwich store.
He was asked to leave the store despite having scanned and paid for his items and using his loyalty card.
Sainsbury's said the error was caused by staff, not the facial recognition software itself.
This was not the first wrong accusation involving the same facial recognition system from the company Facewatch.
The system has also been used in other stores and has had similar mistakes before.
Sainsbury's paused the use of the technology at this location while investigating.
The company said the use of facial recognition is part of their effort to reduce violence against retail workers.
The customer expressed concern that staff may rely too much on technology without applying human judgment.
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Four states have begun a trial against Meta in California, accusing the company of harming children by creating addictive social media features and collecting data without parental consent. The states seek large financial penalties and changes in how Meta runs Facebook and Instagram.
Key Facts
The lawsuit claims Meta knowingly designed features that make children addicted to its platforms.
It alleges Meta collected data on children under 13 without parental permission, breaking federal law.
The trial involves California, Colorado, Kentucky, and New Jersey, with 25 other states expected to have separate trials.
States are seeking up to $1.4 trillion in damages and operational changes to Meta’s platforms.
Meta denies the allegations and says it works to support young people, citing expert research and law enforcement cooperation.
Meta has already lost two similar cases this year and has spent $2.4 billion on legal costs recently.
The proposed financial penalty is close to Meta’s total market value, which could threaten the company’s existence.
The court will decide the size of any penalty, but experts say the full $1.4 trillion is unlikely.
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