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Business news, market updates, and economic developments

PlayStation Plus to raise monthly subscription by £1 in UK

PlayStation Plus to raise monthly subscription by £1 in UK

May 18, 2026 • BBC Tech

Summary

Sony is increasing the price of its PlayStation Plus Basic subscription by £1 per month in the UK starting May 20. The price rise is due to market conditions and follows a recent increase in the PlayStation 5 console price.

Key Facts

  • The PlayStation Plus Basic monthly price will rise from £6.99 to £7.99 in the UK.
  • Three-month Basic subscriptions will increase by £3 to £21.99.
  • The price increases also apply in some other regions, such as the US and Europe, but exact areas were not fully specified.
  • Current subscribers outside Turkey and India will not see an immediate price change unless they update or renew their subscription after it ends.
  • Sony raised the price of the PlayStation 5 console last month due to global economic pressures.
  • The video game industry faces supply problems caused by global conflicts and a rise in memory chip costs linked to AI growth.
  • Nintendo also announced a price increase for its Switch 2 console in the US and Europe.
  • Despite falling sales, Sony expects higher profits in its gaming division by 2027, partly due to the upcoming launch of Grand Theft Auto 6.
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BBC Tech BBC Business
$7,500 CD vs. $7,500 high-yield savings account vs. $7,500 money market account: Which will earn more now?

$7,500 CD vs. $7,500 high-yield savings account vs. $7,500 money market account: Which will earn more now?

May 18, 2026 • CBS News

Summary

Certificates of deposit (CDs), high-yield savings accounts, and money market accounts all offer ways to earn interest on deposits around $7,500, with rates near 4% or higher. Over one year, CDs tend to earn slightly more interest than the other two, but savings and money market accounts offer more flexibility since their rates and access to funds can change.

Key Facts

  • CDs have a fixed interest rate, which means the rate stays the same until the CD matures.
  • High-yield savings and money market accounts have variable rates that can change over time.
  • A $7,500 1-year CD at 4.1% can earn about $307.50 in interest.
  • A $7,500 high-yield savings account at 4.03% can earn about $302.25 in one year.
  • A $7,500 money market account at 3.9% can earn about $292.50 in one year.
  • CDs usually pay slightly more interest but do not allow easy access to funds before maturity without penalties.
  • High-yield savings and money market accounts offer easier access to money and may benefit if interest rates rise.
  • Splitting funds among different account types can help savers gain both higher earnings and better access.
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CBS News
Prediction market Kalshi to give $2m to problem gambling group as it fights ‘gambling’ label

Prediction market Kalshi to give $2m to problem gambling group as it fights ‘gambling’ label

May 18, 2026 • Guardian World

Summary

Prediction market company Kalshi will give $2 million over two years to the National Council on Problem Gambling (NCPG) to support trader health and safety. Kalshi says it is not a gambling platform but a financial exchange, while some state officials disagree and want more regulation.

Key Facts

  • Kalshi lets users bet or trade on outcomes like elections, sports, and other events.
  • Kalshi calls itself a derivatives market, unlike casinos or traditional sportsbooks.
  • The $2 million investment will fund NCPG’s new initiative to promote safe trading practices.
  • NCPG is a nonprofit mostly funded by the gambling industry, focusing on education and prevention of risky behavior.
  • Kalshi will join NCPG as a "Platinum-level" member under a new category for financial trading firms.
  • Other Platinum members include casino companies, sports betting firms, and major sports leagues.
  • Prediction markets are growing fast, with over $1 billion traded on Kalshi on Super Bowl Sunday this year.
  • State officials argue prediction markets are a form of gambling and should be regulated as such rather than as financial exchanges.
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Guardian World Guardian US
NextEra seeks Dominion to create massive power company as AI drives energy demand

NextEra seeks Dominion to create massive power company as AI drives energy demand

May 18, 2026 • PBS NewsHour

Summary

NextEra Energy plans to buy Dominion Energy in a deal worth about $67 billion in stock. This merger would create the largest regulated electric utility company in the world, serving around 10 million customers in several U.S. states. The combined company aims to meet growing electricity needs, partly driven by artificial intelligence data centers.

Key Facts

  • NextEra Energy is offering to acquire Dominion Energy in an all-stock deal valued at approximately $67 billion.
  • The new company would serve about 10 million utility customer accounts across Florida, Virginia, North Carolina, and South Carolina.
  • Dominion serves 3.6 million electricity customers and 500,000 natural gas customers in Virginia, North Carolina, and South Carolina.
  • NextEra owns Florida Power & Light, which provides power to about 12 million people in Florida.
  • The deal would create the world’s largest regulated electric utility by market value.
  • Dominion shareholders would receive 0.8138 shares of NextEra for each Dominion share, plus a $360 million one-time cash payment.
  • NextEra shareholders would own 74.5% of the new company; Dominion shareholders 25.5%.
  • The combined company would have two main headquarters in Florida and Virginia, and continue an operations center in South Carolina.
  • The merger still needs approval from both companies’ shareholders and regulators, including the Nuclear Regulatory Commission.
  • The deal comes as demand for electricity rises due to AI data centers, which has led to some concerns about higher electric bills in several states.
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PBS NewsHour
NextEra, Dominion to create huge power biz as AI drives US energy demand

NextEra, Dominion to create huge power biz as AI drives US energy demand

May 18, 2026 • Al Jazeera

Summary

NextEra Energy plans to buy Dominion Energy in a stock deal worth about $67 billion. This merger would create the largest regulated electric utility company in the world by market value, serving around 10 million customers mainly in four U.S. states. The new company aims to better meet the growing electricity needs from data centers supporting artificial intelligence technologies.

Key Facts

  • NextEra Energy is acquiring Dominion Energy in an all-stock deal valued at $67 billion.
  • The combined company will be the world's largest regulated electric utility by market capitalization.
  • It will serve roughly 10 million utility customer accounts in Florida, Virginia, North Carolina, and South Carolina.
  • The region includes the world’s biggest data center hub located in Virginia, driving high electricity demand.
  • The merger supports faster development of power infrastructure for data centers tied to AI technologies.
  • NextEra and Dominion together manage about 130 gigawatts of electricity demand (1 gigawatt powers about 750,000 homes).
  • Dominion has customers like Alphabet, Amazon, Microsoft, Meta, and others involved in data centers.
  • The deal will give NextEra shareholders 74.5% ownership and Dominion shareholders 25.5% of the new company, with a combined dual headquarters in Florida and Virginia.
  • The merger is expected to close in 12 to 18 months, pending shareholder and regulatory approval.
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Al Jazeera
Elon Musk took too long to sue OpenAI, jury unanimously agrees

Elon Musk took too long to sue OpenAI, jury unanimously agrees

May 18, 2026 • Ars Technica

Summary

A jury decided that Elon Musk waited too long to sue OpenAI over claims related to a charity he helped start. The jury found Musk knew about OpenAI’s plan to create a for-profit business by 2021, but he filed his lawsuit after the allowed three-year limit, so his claims were dismissed.

Key Facts

  • Elon Musk sued OpenAI in 2024, accusing it of betraying a charity he funded with $38 million.
  • Musk said OpenAI’s for-profit part harmed the charity and enriched executives like Sam Altman and Greg Brockman.
  • The jury found Musk knew about OpenAI’s plan to become partly for-profit by 2021.
  • Because Musk filed the lawsuit after three years, the jury ruled it was too late.
  • The jury cleared Sam Altman, Greg Brockman, and Microsoft of any wrongdoing.
  • The judge agreed immediately with the jury’s decision.
  • Musk’s team said they plan to appeal the ruling.
  • Musk missed part of the trial and prioritized a meeting between President Trump and China’s leader over attending court.
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Ars Technica
Court rules in favor of OpenAI and Sam Altman in lawsuit brought by Elon Musk

Court rules in favor of OpenAI and Sam Altman in lawsuit brought by Elon Musk

May 18, 2026 • ABC News

Summary

A court decided in favor of OpenAI and its CEO, Sam Altman, in a lawsuit filed by Elon Musk. The lawsuit accused OpenAI of wrongdoing during its change from a nonprofit to a for-profit company.

Key Facts

  • Elon Musk sued OpenAI and Sam Altman.
  • The lawsuit involved claims about OpenAI’s change from nonprofit to for-profit.
  • The trial lasted three weeks.
  • Both Elon Musk and Sam Altman gave testimony in court.
  • The court ruled in favor of OpenAI and Sam Altman.
  • This ruling allows OpenAI to continue operating as a for-profit company.
  • The case is still developing, and more updates may be released later.
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ABC News
Halifax could disappear from UK high streets as Lloyds assesses branding strategy

Halifax could disappear from UK high streets as Lloyds assesses branding strategy

May 18, 2026 • Guardian World

Summary

Lloyds Banking Group is reviewing its branding and may stop using the Halifax name for retail banking in England and Wales. This could lead to the Halifax bank disappearing from UK high streets, with customers moved to the Lloyds brand.

Key Facts

  • Lloyds Banking Group currently uses three banking brands: Lloyds, Halifax, and Bank of Scotland.
  • Bank of Scotland will continue as the brand for retail banking in Scotland.
  • Halifax operates alongside Lloyds in England and Wales, which is why its future is being reconsidered.
  • The Halifax brand might start being phased out from 1 July, with customer transfers beginning in autumn.
  • No customer account numbers would change if Halifax is merged into Lloyds branding.
  • Lloyds has already allowed customers to use any branch between the three brands.
  • The group plans to close more branches, reducing total branch numbers to 610 across the brands.
  • Halifax was founded in 1852 and became a major UK lender before merging with Bank of Scotland to form HBOS, which Lloyds rescued in 2008.
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Guardian World
Avanti West Coast to cut one in seven trains on its busiest intercity routes

Avanti West Coast to cut one in seven trains on its busiest intercity routes

May 18, 2026 • Guardian World

Summary

Avanti West Coast will cut about one in seven trains on its busiest routes this summer to reduce costs, following a government request. The changes will affect weekday trains between London and Birmingham, Liverpool, and Manchester, starting July 20, during times when fewer passengers travel.

Key Facts

  • Avanti typically runs 248 trains daily on the affected routes and will remove 38 weekday services during summer.
  • The government’s Department for Transport approved the new timetable to lower spending on rail services.
  • The 7:00 am Manchester to London fast train, which was previously saved from cancellation, will continue running.
  • Cuts will only happen during less busy times when there are other trains available, aiming to minimize disruption.
  • Avanti has the worst punctuality record among UK national rail operators but has seen some improvement in customer satisfaction.
  • Train services by Avanti are planned to be nationalized in early 2027 under the new Great British Railways system.
  • The reduction is not due to a lack of resources but is part of a cost-saving measure under a government contract.
  • The government has kept rail spending around £12 billion annually since the Covid pandemic.
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Guardian World
How to get your job ads more exposure

How to get your job ads more exposure

May 18, 2026 • CBS News

Summary

Many companies find it hard to get qualified job candidates because hundreds of new job ads appear daily, making it easy for listings to be overlooked. To increase visibility, employers should use common job search words, carefully sponsor important listings, and make ads easy to read on phones.

Key Facts

  • Thousands of job listings appear every day, causing ads to get buried quickly.
  • Job seekers are more selective and focus on jobs that match their goals and expectations.
  • Using keywords that candidates commonly search for helps job ads show up in search results.
  • Paid promotion of job ads can place listings at the top of search pages but should be used selectively.
  • Mobile-friendly job descriptions with short sections and clear headings improve engagement.
  • Candidates look for salary transparency, workplace flexibility, career growth, and company reputation.
  • Companies should focus paid ads on the hardest or most urgent roles to fill.
  • Job titles and descriptions should match common language candidates use, not just internal company terms.
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CBS News
Andy Burnham’s change in tack on fiscal rules and bond markets is understandable

Andy Burnham’s change in tack on fiscal rules and bond markets is understandable

May 18, 2026 • Guardian World

Summary

Andy Burnham, a candidate to replace Keir Starmer as UK prime minister, has softened his stance on government borrowing rules to reassure investors in the bond market. Rising borrowing costs and political uncertainty in Britain have made it important for Burnham to show he supports keeping debt under control while still proposing new policies.

Key Facts

  • Andy Burnham is a leading candidate to replace Keir Starmer as UK prime minister.
  • He previously criticized Britain’s high debt ("in hock" to bond markets) but now supports current fiscal rules that limit borrowing.
  • The UK government’s borrowing costs have risen to their highest since 1998 due to inflation and worries about the Middle East conflict.
  • Investors prefer political stability and favor current Labour leaders because they appear committed to balancing the budget.
  • The International Monetary Fund said the UK has limited room to change debt policies because its debt is nearly 100% of the country’s GDP.
  • Rising borrowing costs risk creating a cycle where more debt leads to even higher costs and less money for other government needs.
  • Burnham’s policy ideas include tweaking taxes and spending and possibly increasing borrowing for defense without breaking fiscal rules.
  • Political instability and bond market reactions have made Burnham adopt a cautious approach to fiscal policy.
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Guardian World
Starbucks Korea CEO resigns over ad evoking massacre of pro-democracy protesters

Starbucks Korea CEO resigns over ad evoking massacre of pro-democracy protesters

May 18, 2026 • Guardian World

Summary

The CEO of Starbucks Korea resigned after the company ran an online campaign that offended many by referencing a tragic event in South Korean history. The promotion used phrases linked to the 1980 Gwangju massacre of pro-democracy protesters, leading to public outrage, an official apology, and the removal of the CEO and campaign executive.

Key Facts

  • Starbucks Korea launched a “Tank Day” promotion on May 18, tied to its “Tank” tumbler products.
  • May 18 marks the anniversary of the 1980 Gwangju Uprising, where military forces violently suppressed pro-democracy protests.
  • The campaign’s slogans evoked military tanks and phrases linked to torture cover-ups during South Korea’s dictatorship.
  • The promotion sparked widespread anger and calls for boycotts due to its insensitivity to a tragic national event.
  • Starbucks Korea quickly removed the campaign and issued an apology promising stricter internal reviews.
  • The CEO, Son Jung-hyun, and the executive in charge of the campaign were fired by Shinsegae Group, Starbucks Korea’s majority owner.
  • South Korean President Lee Jae Myung publicly condemned the campaign and demanded accountability.
  • Shinsegae Group chair Chung Yong-jin, known for far-right views and ties to President Trump’s family, faced renewed criticism for his past controversial statements.
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Guardian World Guardian Business
'I sold it for over £1k': Swatch launch sparks 'chaotic' scenes

'I sold it for over £1k': Swatch launch sparks 'chaotic' scenes

May 18, 2026 • BBC World

Summary

Large crowds gathered worldwide to buy Swatch’s new pocket watch made with Audemars Piguet, causing some stores to close for safety reasons. The watch sells for £335 but is being resold online for much higher prices, sometimes over £1,000 and up to £16,000.

Key Facts

  • Swatch released a new Royal Pop pocket watch in partnership with Audemars Piguet.
  • The watch’s retail price is £335.
  • Many people queued outside Swatch stores globally to buy this watch.
  • Some stores had to close because of safety concerns caused by the crowds.
  • Police were called in the UK, France, and Switzerland to manage large groups of shoppers.
  • Some buyers quickly resold the watch online for much higher prices.
  • Resale prices have reached as high as £16,000.
  • One person reported buying the watch for £335 and selling it for just over £1,000.
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BBC World BBC Business
What's the required minimum distribution from a $200,000 retirement account?

What's the required minimum distribution from a $200,000 retirement account?

May 18, 2026 • CBS News

Summary

Retirees must take required minimum distributions (RMDs) from their retirement accounts starting at age 73. The amount depends on their age and account balance, with older retirees needing to withdraw more each year, and these withdrawals have tax consequences.

Key Facts

  • RMDs start at age 73 for retirement accounts like 401(k)s and traditional IRAs.
  • The required withdrawal amount is calculated by dividing the account balance by a life expectancy factor from an IRS table.
  • For a $200,000 account, the annual RMD is about $7,547 at age 73 and increases to around $9,479 by age 79.
  • The life expectancy factor decreases with age, so withdrawals get larger each year.
  • Withdrawals from tax-deferred accounts are subject to income tax.
  • Retirees should plan for these withdrawals and their tax impact ahead of time.
  • Gold can be part of a retirement portfolio as a way to reduce risk but usually should not exceed 10% of investments.
  • The exact RMD amount varies yearly as the account balance and IRS tables change.
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CBS News
Ice cream voluntarily recalled for possible presence of metal fragments

Ice cream voluntarily recalled for possible presence of metal fragments

May 18, 2026 • ABC News

Summary

Straus Family Creamery, based in California, has voluntarily recalled six types of its organic ice cream because they might contain metal pieces. The recalled products were sold in 17 states and customers are advised not to eat or return them.

Key Facts

  • The recall affects certain pint and quart sizes of six ice cream flavors, including Vanilla Bean, Strawberry, Cookie Dough, Dutch Chocolate, and Mint Chip.
  • The "best by" dates on the recalled products range from December 23 to December 30, 2026.
  • The ice cream was sold starting May 4, 2026, in stores across 17 states such as California, Texas, Florida, and Illinois.
  • No injuries have been reported related to this issue.
  • Straus Family Creamery is working with stores to remove the affected products from shelves.
  • Customers who bought the recalled ice cream are asked to throw it away and not return it to stores.
  • The company is offering replacement vouchers to customers who fill out an online form.
  • Consumers can contact Straus Family Creamery for questions via email or phone during business hours.
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ABC News
NextEra to buy Dominion in $67bn deal creating US utility giant

NextEra to buy Dominion in $67bn deal creating US utility giant

May 18, 2026 • Guardian World

Summary

NextEra Energy plans to buy Dominion Energy in a $67 billion deal, creating the world’s largest regulated utility company if regulators approve the merger. The combined company would serve about 10 million customers in several southern US states and aims to address rising electricity demand and offer bill credits after the deal closes.

Key Facts

  • NextEra Energy announced it will buy Dominion Energy for $67 billion.
  • The merger would create the largest regulated utility business in the world.
  • The combined company would serve around 10 million utility customers in North Carolina, South Carolina, Florida, and Virginia.
  • The deal is an all-stock transaction; NextEra shareholders would own about 75% of the new company, Dominion shareholders the rest.
  • NextEra’s stock dropped over 5% after the announcement, while Dominion’s stock rose nearly 10%.
  • The companies pledged $2.25 billion in bill credits over two years to customers after the merger closes.
  • Rising electricity needs are partly driven by big datacenters built to support growing demand for AI.
  • Utility companies have been working against efforts by communities to create public power systems, using front groups to oppose those campaigns.
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Guardian World Guardian US Guardian Business
New York Governor Predicts Fewer Will Pay New Housing Tax

New York Governor Predicts Fewer Will Pay New Housing Tax

May 18, 2026 • Newsweek

Summary

New York Governor Kathy Hochul now expects about 10,000 luxury second homes in New York City to be taxed under her proposed pied-à-terre tax, down from an earlier estimate of 13,000. The tax, part of the state’s $268 billion budget, targets expensive second homes owned by non-residents to raise an estimated $500 million yearly and help the city’s finances.

Key Facts

  • The pied-à-terre tax applies to second homes in NYC valued over $5 million owned by people who live elsewhere.
  • Tax rates range from 0.8% to 1.3% based on property value.
  • Co-ops and condos will face higher, temporary rates of around 4% before moving to the graduated scale.
  • The tax is expected to bring in about $500 million annually and will expire after five years unless renewed.
  • New York’s real estate industry strongly opposes the tax, arguing it will reduce property values and increase costs for local owners.
  • The tax is included in the state budget deal that is overdue and expected to be voted on soon.
  • Earlier proposals for similar taxes were defeated, but this one appears likely to pass.
  • The tax is intended to raise revenue from wealthy non-residents without broadly increasing taxes on all New Yorkers.
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Newsweek
Summer travelers who relied on Spirit Airlines may struggle to find affordable alternatives

Summer travelers who relied on Spirit Airlines may struggle to find affordable alternatives

May 18, 2026 • PBS NewsHour

Summary

Spirit Airlines shut down suddenly after 34 years, leaving price-sensitive travelers with fewer cheap flight options. Rising fuel costs and increased competition have made it harder for budget airlines to keep fares low, while bigger airlines use advanced pricing to attract more customers.

Key Facts

  • Spirit Airlines stopped flying on May 3, 2024, affecting many travelers who relied on low-cost flights.
  • A Spirit Airlines lawyer apologized to customers who may now face higher prices.
  • High jet fuel prices, linked to the ongoing Iran conflict, have raised airfares across the airline industry.
  • Larger airlines like American, Delta, and United use flexible pricing to sell some low-cost seats while charging more for premium tickets.
  • Budget airlines struggle because they can no longer compete only by being the cheapest.
  • The Association of Value Airlines, representing some budget carriers, asked the Trump administration for $2.5 billion in temporary aid but was denied.
  • The trade group for major airlines opposed this aid, saying it would hurt competition.
  • Mergers and consolidations, like Alaska Airlines buying Hawaiian Airlines, are changing the budget airline market.
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PBS NewsHour
HS2: Heidi Alexander to set out true cost of rail project – and when trains will begin to run

HS2: Heidi Alexander to set out true cost of rail project – and when trains will begin to run

May 18, 2026 • Guardian World

Summary

The UK government will soon share an updated cost estimate and schedule for the HS2 high-speed rail project, including plans to reduce train speeds to cut expenses. The project, originally planned to connect London with Manchester and Leeds, has been scaled back to a line only between London and Birmingham, with completion delayed beyond 2033.

Key Facts

  • The government will release the HS2 cost estimate in 2026 prices, hoping to keep it under £100 billion.
  • Trains might run slower (320 km/h instead of 360 km/h) to save money.
  • Automatic train operation, which helps manage busy train lines, may be dropped from the project.
  • A report criticized earlier decisions for making the project too expensive and focusing too much on high speeds.
  • Officials felt pressure from political leaders to keep the project moving despite rising costs.
  • The project started in 2012 with a £32 billion plan for a larger rail network but was cut back in 2023.
  • The London Euston station designs are still not finalized.
  • Delays mean trains will not start running until after 2033.
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Guardian World
WATCH: James Comey talks new book 'Red Verdict'

WATCH: James Comey talks new book 'Red Verdict'

May 18, 2026 • ABC News

Summary

James Comey, the former FBI director, talks about his new legal thriller book called "Red Verdict." The story follows a prosecutor investigating a poisoning linked to a high-level spy conspiracy.

Key Facts

  • James Comey is a former FBI director.
  • He has released a new book titled "Red Verdict."
  • The book is a legal thriller, a type of novel focused on law and crime.
  • The plot centers on a prosecutor investigating a poisoning case.
  • The poisoning is connected to a risky espionage (spying) conspiracy.
  • The discussion about the book was shared on May 18, 2026.
  • The article also lists various news live streams and other unrelated news headlines.
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ABC News