The Actual News

Just the Facts, from multiple news sources.

Business News

Business news, market updates, and economic developments

Young drivers targeted by 'ghost brokers' selling fake car insurance online

Young drivers targeted by 'ghost brokers' selling fake car insurance online

May 19, 2026 • BBC Business

Summary

Young drivers in the UK are being tricked by "ghost brokers" who sell fake car insurance online, often through social media or messaging apps. Many of these fake policies are cheaply priced but invalid, and drivers using them risk fines, prosecution, or having their cars taken away.

Key Facts

  • Half of drivers aged 16-25 have bought car insurance through social media or messaging apps.
  • Many of these insurance policies are fake or invalid.
  • Driving without valid insurance is illegal in the UK.
  • Fake policies often cost much less than genuine ones, attracting young drivers on tight budgets.
  • Victims may face criminal prosecution, fines, or car seizure.
  • Legitimate insurance brokers have websites, phone numbers, and addresses and are listed on the FCA Firm Checker.
  • The Financial Conduct Authority (FCA) works with social media influencers to warn young drivers about ghost brokers.
  • Insurance companies and fraud bureaus have reported a rise in ghost broking cases.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business BBC Top Stories
Spending watchdog warns £38bn cost of Sizewell C nuclear plant is ‘risky’

Spending watchdog warns £38bn cost of Sizewell C nuclear plant is ‘risky’

May 19, 2026 • Guardian World

Summary

The UK government’s planned £38 billion Sizewell C nuclear power plant faces high financial uncertainty, with public costs possibly exceeding benefits until around 2064. The National Audit Office warns of risks like delays and cost overruns that could raise bills for households, while project leaders say it will reduce long-term electricity costs.

Key Facts

  • The Sizewell C nuclear plant is estimated to cost £38 billion.
  • It is expected to start operating in the late 2030s and provide low-carbon electricity for about 6 million homes.
  • The government claims Sizewell C could save £2 billion per year compared to other low-carbon energy sources.
  • The National Audit Office says the financial risks of the project are significant and immediate for the public.
  • Households have started paying for Sizewell C through their energy bills as construction begins.
  • The project uses a funding method (regulated asset base model) where costs are paid during construction, not just after the plant starts producing electricity.
  • Similar nuclear projects have often faced delays and increased costs.
  • Sizewell C’s developer, EDF, along with the UK government and other investors, have put billions into the project.
  • Critics warn that if construction is delayed, consumers will pay longer without receiving power, increasing financial risk.
  • Project leaders say the construction supports thousands of jobs and benefits UK businesses by sourcing most supplies domestically.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World
Multilateralsim at work: Eurogroup President on G7 meeting, Europe's priorities and challenges

Multilateralsim at work: Eurogroup President on G7 meeting, Europe's priorities and challenges

May 19, 2026 • France24

Summary

G7 finance leaders and central bankers met in Paris for two days to discuss challenges like the Iran conflict and energy problems. Eurogroup President Kyriakos Pierrakakis said they agreed that working together with many countries (multilateralism) is important to handle these global issues.

Key Facts

  • The G7 meeting included finance ministers and central bankers from major economies.
  • The discussions focused on problems affecting the global economy, such as the war involving Iran and energy supply issues.
  • Kyriakos Pierrakakis represented the 21 countries using the euro currency (euro area).
  • Participants acknowledged some disagreements but agreed on the need for a joint international effort.
  • Multilateralism means countries working together on shared problems.
  • The meeting took place in Paris and lasted two days.
  • The outcomes of this meeting are important for Europe’s economic priorities and for handling worldwide challenges.
Read the Original

Want the full story? Tap a source to open the original article.

France24
Exclusive: Clean energy deals on track for "biggest year ever"

Exclusive: Clean energy deals on track for "biggest year ever"

May 19, 2026 • Axios

Summary

Companies are expected to buy more clean energy in 2026 than ever before, helped by increased interest from the AI industry and soon-ending tax credits for wind and solar energy. In the first three months of 2026, businesses signed deals for more clean energy than they did in all of 2021.

Key Facts

  • Companies contracted 13.4 gigawatts of clean energy capacity in Q1 2026.
  • This amount is bigger than all the clean energy contracts made in 2021.
  • The growth is partly due to the rush to benefit from expiring tax credits under President Trump's One Big Beautiful Bill Act.
  • To get tax credits, clean energy projects must start building by July 4, 2026, or be ready by the end of 2027.
  • Demand for "clean, firm" power sources like advanced nuclear, geothermal, and natural gas with carbon capture is increasing.
  • Contracts for "clean, firm" power in early 2026 are almost as much as all of 2025.
  • The Clean Energy Buyers Association shared these findings in their annual report presented in Seattle.
  • The trend shows strong corporate support for clean energy despite federal policy changes.
Read the Original

Want the full story? Tap a source to open the original article.

Axios
Chinese execs, shipping container companies accused of price fixing during pandemic

Chinese execs, shipping container companies accused of price fixing during pandemic

May 19, 2026 • CBS News

Summary

Seven Chinese executives and four large shipping container companies were charged with illegally fixing prices during the COVID-19 pandemic. The U.S. Justice Department says their actions raised container prices and hurt global trade, especially affecting American consumers.

Key Facts

  • Seven Chinese executives and four major container manufacturers face criminal antitrust charges.
  • The charges allege illegal price fixing to raise container costs during the pandemic.
  • The case was indicted in 2025 but only made public after one defendant was detained in France.
  • The companies involved include Singamas, China International Marine Containers (CIMC), Shanghai Universal Logistics Equipment (Dong Fang), and CXIC Group Containers.
  • The accused executives are high-ranking officers such as CEOs and general managers of these companies.
  • The price fixing affected about $35 billion of global trade during the COVID-19 pandemic.
  • The Justice Department states this hurt Americans trying to get goods and supplies during the crisis.
  • The antitrust division says this case is separate from other COVID-19 investigations focusing on the virus's origin.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Maybach Brand Head Used To Be a Maybach-Driving Chauffeur

Maybach Brand Head Used To Be a Maybach-Driving Chauffeur

May 19, 2026 • Newsweek

Summary

Markus Bauer, who once drove Maybach cars as a chauffeur, is now the head of Mercedes-Maybach, a luxury car brand. The company is expanding its product line and exploring new experiences, such as luxury yachting and personalized car options.

Key Facts

  • Markus Bauer drove first-generation Maybach cars when he was a young chauffeur.
  • He is now the leader of Mercedes-Maybach, describing it as his dream job.
  • Maybach recently introduced the SL convertible coupé to the market.
  • The Maybach VLS full-size van, called the Grand Limousine, will be revealed soon.
  • There are currently no plans to create a Mercedes-Maybach version of the G-Class SUV.
  • Maybach is planning a shared-ownership luxury yachting experience.
  • The brand appeared in the movie “The Devil Wears Prada 2” to boost its image.
  • The company offers a Made to Measure program that lets buyers customize their cars, which is different from just choosing paint colors or options.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
Indictments announced against Chinese container firms for alleged price-fixing during COVID pandemic

Indictments announced against Chinese container firms for alleged price-fixing during COVID pandemic

May 19, 2026 • CBS News

Summary

The U.S. Justice Department charged four Chinese shipping container makers with working together to raise prices during the COVID-19 pandemic by producing fewer containers. This action aims to stop unfair business practices that hurt trade and consumers.

Key Facts

  • Four Chinese companies that make shipping containers were indicted by the U.S. Justice Department.
  • They are accused of cutting back production on purpose to increase container prices.
  • The alleged price-fixing happened during the COVID-19 pandemic.
  • Price-fixing means companies agree to set higher prices instead of competing.
  • These charges are part of efforts to promote fair business and trade.
  • The action was announced on a Tuesday by U.S. officials.
  • Shipping containers are essential for moving goods worldwide, so price changes can affect many businesses.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
AI Is Making Workers Faster. That May Be the Problem.

AI Is Making Workers Faster. That May Be the Problem.

May 19, 2026 • Newsweek

Summary

A new study found that workers using AI save about 2.3 hours daily, but many feel they rely too much on AI, which may weaken their skills and judgment. Companies face the challenge of balancing faster work with the risk that employees, especially younger ones, may lose important problem-solving abilities.

Key Facts

  • Employees save an average of 2.3 hours a day by using AI tools.
  • Half of employees say they rely too much on AI.
  • 39% of workers believe relying on AI makes them less intelligent.
  • Younger workers (Gen Z) are more concerned, with 46% saying AI erodes their skills.
  • 50% of Gen Z feel relying on AI could hurt their long-term careers.
  • 35% of Gen Z think AI does their jobs better than they can.
  • 60% of employees feel pressured to use AI to improve productivity, including 76% of Gen Z workers.
  • Many companies don’t have clear rules on when or how to use AI, leading to work quality issues and unclear accountability.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
How to find candidates for hard-to-fill roles

How to find candidates for hard-to-fill roles

May 19, 2026 • CBS News

Summary

Many companies find it hard to hire workers for specialized or in-demand jobs, especially in fields like healthcare and manufacturing. To solve this, employers need to improve their pay, flexibility, and work culture, build relationships with potential candidates before jobs open, and use different ways to find workers beyond regular job boards.

Key Facts

  • Hiring for specialized or high-demand jobs is more difficult despite some sectors slowing hiring.
  • Candidates want better pay, flexible work, and good workplace culture.
  • Some roles remain open for a long time, affecting company growth and staff workload.
  • Employers should review their job offers to ensure they are competitive.
  • Building connections with potential candidates before hiring can speed up the process.
  • Using niche job platforms and professional networks helps reach more qualified candidates.
  • General job boards like ZipRecruiter are helpful but might not be enough alone.
  • Partnering with local schools and training programs can provide future skilled workers.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
Social Security recipients could receive a large COLA adjustment, forecasters say. Here's how they can earn 4% on their money now.

Social Security recipients could receive a large COLA adjustment, forecasters say. Here's how they can earn 4% on their money now.

May 19, 2026 • CBS News

Summary

Social Security recipients may get a cost-of-living adjustment (COLA) near 4% next year due to recent high inflation, increasing their monthly benefits by about $80. Meanwhile, they can earn around 4% interest today using high-yield savings accounts or certificates of deposit (CDs), which offer better returns than traditional savings accounts.

Key Facts

  • Inflation recently surged to its highest in about three years, prompting a potential 3.9% COLA for Social Security in 2027.
  • A 3.9% COLA would raise the average Social Security monthly payment to roughly $2,150, adding about $80 per month.
  • The official COLA announcement for 2027 will be made in October 2026.
  • High-yield savings accounts currently offer about 4% interest, much higher than the 0.38% average on regular savings accounts.
  • Interest rates on these high-yield accounts are variable but are unlikely to fall soon due to no Federal Reserve rate cuts expected in 2026.
  • Certificates of deposit (CDs) provide a fixed interest rate around 4%, but funds are locked until the CD matures, with penalties for early withdrawal.
  • Gold investments are suggested as a way to protect savings because gold typically holds value during economic uncertainty and inflation.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
'Liquid on lips': Noughty makes premium alcohol-free wine really nice & 'appealing to wine drinkers'

'Liquid on lips': Noughty makes premium alcohol-free wine really nice & 'appealing to wine drinkers'

May 19, 2026 • France24

Summary

Amanda Thomson founded Noughty in 2019 to create premium alcohol-free wine. She aims to offer wine lovers a high-quality, non-alcoholic option that expands the wine market rather than just imitating regular wine.

Key Facts

  • Noughty is a premium brand of alcohol-free wine started in 2019 by Amanda Thomson.
  • Thomson trained with expert sommelier Gérard Basset and studied at Le Cordon Bleu in Paris.
  • The company focuses on making good wine first, then removing the alcohol.
  • Alcohol-free wine is seen as a new segment that competes with water, not just a substitute for regular wine.
  • Younger consumers, especially Gen Z, are drinking less alcohol and are open to alcohol-free wine.
  • "Zebra stripe drinking" refers to alternating alcoholic and non-alcoholic drinks in an evening.
  • The rise of alcohol-free wine reflects a social shift toward combining wellness and enjoyment.
  • The wine industry faces a question of whether it will adopt alcohol-free wine as part of its future.
Read the Original

Want the full story? Tap a source to open the original article.

France24
Paramount expresses support for CBS News leader Bari Weiss amid criticism

Paramount expresses support for CBS News leader Bari Weiss amid criticism

May 19, 2026 • Guardian World

Summary

Paramount, the company that owns CBS News, said it supports Bari Weiss, the editor in chief of CBS News, despite talks about changing her role due to low ratings and controversies. There are reports she might focus more on digital news and have less control over traditional TV programs like 60 Minutes.

Key Facts

  • Paramount confirmed Bari Weiss has full support as the editorial leader of CBS News and 60 Minutes.
  • There were discussions about reducing Weiss’s control over CBS News and possibly CNN if a merger with Warner Bros Discovery is approved.
  • Weiss was new to TV when she took charge of CBS News editorial operations after Paramount bought her digital site, the Free Press, for about $150 million.
  • Reports suggest Weiss might shift focus to growing digital news platforms while keeping editorial influence.
  • Insiders fear Weiss may make big changes to the show 60 Minutes, which has lost some key correspondents and is entering its 59th season.
  • CBS’s evening and morning news shows have been struggling with low viewer numbers compared to competitors.
  • Paramount could bring in a new executive to oversee CBS News and possibly CNN if the merger goes through.
  • It is unclear whether CNN’s CEO, Mark Thompson, will stay with the company after a potential merger.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World Guardian Business
Polymarket to let users make prediction market bets on private companies

Polymarket to let users make prediction market bets on private companies

May 19, 2026 • CBS News

Summary

Polymarket has started offering prediction markets where users can bet on the performance of private companies. They partnered with Nasdaq Private Market to provide trading based on company valuations, IPO plans, and secondary market activities.

Key Facts

  • Polymarket is a New York-based company that runs prediction markets.
  • Users can now trade contracts related to private company milestones, like valuations and IPO plans.
  • Nasdaq Private Market provides data and partners to help offer these markets.
  • This service lets individuals speculate on private companies, not just institutional investors.
  • The trading can offer real-time insights on private company performance.
  • Contracts are available now with more private company markets coming soon.
  • Prediction markets let users bet on future events by buying "yes" or "no" contracts.
  • Competitor Kalshi also has similar prediction contracts on company IPO announcements.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
High prices in Iran’s stunted housing market leave tenants with few options

High prices in Iran’s stunted housing market leave tenants with few options

May 19, 2026 • Al Jazeera

Summary

Housing prices in Tehran, Iran, are rising faster than most people’s incomes, making it hard for tenants to afford rent. War and economic problems, including sanctions and inflation, have worsened the situation, causing many to seek cheaper living options or stay with family.

Key Facts

  • Rent for a 20-year-old apartment in western Tehran increased from about $73 to $130 per month.
  • Monthly minimum wage in Iran is around $90 to $120 with government help, while average family income is about $400.
  • Rents in Tehran have gone up 30 to 40 percent compared to last year.
  • Inflation is about 73 percent and rising, putting more pressure on housing costs.
  • Many tenants face large rent and deposit payments that are hard to afford.
  • Due to the war and economic uncertainty, fewer new housing contracts are being signed.
  • Some tenants seek roommates, move to smaller cities, or return to live with parents to cut costs.
  • Authorities have limited rules to control rent increases and allow short contract extensions during the war.
Read the Original

Want the full story? Tap a source to open the original article.

Al Jazeera
Faisal Islam: Why a full HS2 line could still be built despite the latest fiasco

Faisal Islam: Why a full HS2 line could still be built despite the latest fiasco

May 19, 2026 • BBC Business

Summary

The HS2 high-speed rail project in the UK faces major challenges after decisions to cancel or slow parts of the line. The government is considering finishing a shorter section from London to Birmingham and possibly completing the Western leg to Manchester later, but the project remains very costly and delayed.

Key Facts

  • HS2 was originally planned as a Y-shaped high-speed rail line connecting London, Birmingham, Manchester, and Leeds.
  • Parts of the project, including the Leeds and Manchester legs, have been canceled or delayed.
  • The line now is planned to stop at Birmingham, cutting off northern England connections.
  • Costs for completing HS2 are estimated at around £60 billion from the current point, with total costs possibly reaching £100 billion.
  • The West Coast Main Line (WCML), which the HS2 trains would use after Birmingham, is old and crowded, causing slower train speeds beyond Birmingham.
  • The government is committed to Northern Powerhouse Rail, which could use HS2 routes in Manchester.
  • Finishing the Western leg from Birmingham to Manchester Airport might offer the best benefits for the money, with lower costs expected.
  • Other countries are building high-speed rail faster and cheaper, highlighting the UK’s difficulties with HS2.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business BBC Top Stories
Map Shows Most Affordable Cities to Buy a Home

Map Shows Most Affordable Cities to Buy a Home

May 19, 2026 • Newsweek

Summary

A new study by WalletHub ranked the most affordable cities in the U.S. to buy a home. Flint and Detroit in Michigan, and Surprise in Arizona, were named the top three most affordable places based on costs like home prices, taxes, and maintenance compared to local incomes.

Key Facts

  • Flint, Michigan is ranked the most affordable city to buy a home, with very low cost of living and home prices relative to income.
  • Flint’s median home price is $59 per square foot, while some expensive cities have prices over $1,000 per square foot.
  • Detroit is second, with housing costs just over twice the median household income and a median price of $89 per square foot.
  • Surprise, Arizona ranks third, with strong home price growth and low real estate tax rates.
  • The study reviewed 300 U.S. cities using 10 different factors like cost per square foot, cost of homeowner insurance, taxes, and housing availability.
  • Cities with high vacancy rates like Flint and Detroit offer more choices and lower prices for buyers.
  • The top 10 affordable cities included places mostly in the Midwest and South, such as Akron, Pittsburgh, Memphis, and Indianapolis.
  • Data was scored on a 100-point scale to compare affordability across cities.
Read the Original

Want the full story? Tap a source to open the original article.

Newsweek
The 10 most affordable U.S. cities to buy a home

The 10 most affordable U.S. cities to buy a home

May 19, 2026 • CBS News

Summary

A recent study by WalletHub shows Flint, Michigan, as the most affordable U.S. city to buy a home, with a median house price around $66,000. Despite some affordable cities, most Americans face high home prices and mortgage rates, requiring about $120,000 yearly income to afford a typical home.

Key Facts

  • Flint, Michigan, ranks as the most affordable city to buy a home in the U.S.
  • Median home price in Flint is about $66,000; Detroit’s median price is $76,500.
  • Santa Barbara, California, is the most expensive city, with a median home price of $1.85 million.
  • Nationwide median home price is around $400,000.
  • Buyers now need about $120,000 annual income to afford the typical home, up from $63,000 in 2020.
  • People often consider factors like taxes and job opportunities when deciding where to move.
  • Many Americans move from high-tax states like California to lower-tax states such as Texas and Florida.
  • Flint’s housing affordability does not reflect concerns such as its 2014 water crisis, though water quality has met safety standards for six years.
Read the Original

Want the full story? Tap a source to open the original article.

CBS News
NS&I to begin contacting victims of lost funds scandal

NS&I to begin contacting victims of lost funds scandal

May 19, 2026 • BBC Business

Summary

National Savings and Investments (NS&I) will soon contact people affected by a mistake that delayed payments from deceased relatives’ accounts. NS&I plans to pay the full money owed, plus interest, to around 34,000 estates by mid-next year.

Key Facts

  • About 34,000 estates were affected, with a total of £476 million in unreturned funds.
  • The problem happened because NS&I failed to identify all savings products belonging to customers who died.
  • NS&I will contact people holding accounts with £10 or more and start payments soon.
  • Payments will include interest, either at the Bank of England base rate plus 1% or the interest NS&I failed to pay, whichever is higher.
  • The money repaid will not be taxed as inheritance or income.
  • NS&I will offer details for claiming legal costs caused by delays.
  • Families and executors do not need to take action at this time.
  • NS&I has fixed the error and improved its process for handling bereavement claims starting January 2024.
  • The former NS&I boss resigned in March due to the scandal.
  • Some victims reported long delays and difficulty accessing funds, causing distress and extra legal costs.
Read the Original

Want the full story? Tap a source to open the original article.

BBC Business BBC Top Stories
Ticketmaster’s monopoly verdict opens the door to real reform

Ticketmaster’s monopoly verdict opens the door to real reform

May 19, 2026 • The Hill

Summary

A jury decided that Live Nation-Ticketmaster operates as a monopoly, breaking antitrust laws that are meant to keep markets fair. The states involved in the case are encouraged to use this ruling to push for agreements that protect customers and bring more competition to ticket sales.

Key Facts

  • A jury found Live Nation-Ticketmaster guilty of being a monopoly.
  • The company broke federal and state antitrust laws designed to prevent unfair market control.
  • The case was brought by state governments.
  • States are advised to use this verdict to negotiate a settlement.
  • The goal of the settlement is to create stronger protections for consumers.
  • Another aim is to increase competition in the ticket-selling market.
  • The ruling could lead to changes in how tickets are sold for events.
  • Live Nation-Ticketmaster currently dominates the online ticket sales business.
Read the Original

Want the full story? Tap a source to open the original article.

The Hill
NS&I to contact bereaved families owed £367m after missing savings scandal

NS&I to contact bereaved families owed £367m after missing savings scandal

May 19, 2026 • Guardian World

Summary

National Savings and Investments (NS&I) will soon contact thousands of families owed £367 million after the bank failed to properly pay out savings and prizes from accounts of people who had died. The bank has apologized and started fixing the problems that caused delays and missing payments.

Key Facts

  • NS&I previously estimated £476 million was owed but now says the correct amount is £367 million.
  • Around 34,000 estates are affected by the missing savings issue.
  • The bank’s former chief executive was replaced after the problem was revealed.
  • The problem came from failures in searching for all accounts linked to deceased customers during bereavement claims.
  • NS&I changed its procedures in January 2026 to prevent this type of error from happening again.
  • The improved process takes longer, causing delays in claim payments currently.
  • NS&I will contact personal representatives of estates with £10 or more, with payments expected through the first half of 2027.
  • Payments will include extra money to cover lost interest or inflation, whichever is higher, and will be exempt from some taxes.
Read the Original

Want the full story? Tap a source to open the original article.

Guardian World