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Just the Facts, from multiple news sources.

Business News

Business news, market updates, and economic developments

WATCH:  1st class comfort coming to coach class

WATCH: 1st class comfort coming to coach class

Summary

Airlines are creating new options for economy class passengers to enjoy comfort features similar to first class, but at a lower price. Examples include Air New Zealand’s “Skynest” and United Airlines’ “Relax Row,” which aim to improve the flying experience without expensive upgrades.

Key Facts

  • More airlines are introducing ways to make coach (economy) seating more comfortable.
  • Air New Zealand offers a product called “Skynest” for coach passengers.
  • United Airlines has launched a “Relax Row” to provide extra comfort in coach.
  • These options give passengers some first-class comforts without the high cost.
  • Airlines are responding to customer demand for better economy class experiences.
  • These changes may make air travel more enjoyable for more people.
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Why did Michelin snub St Paul in its guide to the best restaurants in the Great Lakes region?

Why did Michelin snub St Paul in its guide to the best restaurants in the Great Lakes region?

Summary

Michelin expanded its famous restaurant guide to the Great Lakes region, including Minneapolis, but Saint Paul was not included. Minneapolis paid for Michelin inspectors to review its restaurants, while Saint Paul did not, which led to its exclusion from the guide.

Key Facts

  • Michelin included Minneapolis but excluded Saint Paul in its Great Lakes restaurant guide.
  • Saint Paul and Minneapolis are close neighbors, only 11 miles apart.
  • Minneapolis’s tourism group paid $250,000 a year for three years to host Michelin inspectors.
  • Saint Paul did not arrange such a paid partnership with Michelin.
  • Saint Paul’s tourism leaders expressed hope the guide’s impact will benefit the broader region.
  • Local restaurant owners and critics said Saint Paul’s exclusion was disappointing.
  • Michelin often focuses on upscale or fine dining restaurants with specific styles and settings.
  • The cost of hosting inspectors includes flights and accommodations, and paying cities or groups helps attract Michelin.
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Customer Buys a Clock—Then Discovers Something Amazing About Who Made It

Customer Buys a Clock—Then Discovers Something Amazing About Who Made It

Summary

A Reddit user noticed a sticker on the back of a clock they bought that said it was assembled by people who are legally blind. The clock was made by Chicago Lighthouse, a nonprofit that provides jobs and support to people with vision impairments in the United States.

Key Facts

  • A Reddit post about a clock assembled by legally blind people gained over 5,500 upvotes and many comments.
  • The clock has a sticker showing it was made by Chicago Lighthouse, a nonprofit supporting visually impaired people.
  • Chicago Lighthouse offers jobs, education, and other help to people who are blind, disabled, or veterans.
  • The nonprofit runs a business that makes clocks and other products to provide steady work for visually impaired workers.
  • "Legally blind" means having limited vision, not always total blindness, as explained by vision experts.
  • About 7 million people in the U.S. have vision impairment, including 1 million who are blind, according to the CDC.
  • Reddit users shared their experiences and clarified misunderstandings about what legal blindness means.
  • Newsweek could not independently confirm all details about the specific clock purchase.
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UK petrol and diesel prices fall after weeks of rises

UK petrol and diesel prices fall after weeks of rises

Summary

Petrol and diesel prices in the UK have dropped slightly after weeks of increases following a conflict in the Gulf region. The recent price falls are small but may continue as wholesale oil prices have decreased since a temporary ceasefire was announced.

Key Facts

  • Petrol and diesel prices in the UK have started to fall for the first time since the US-Israel war with Iran began.
  • Prices dropped by 0.3 pence per litre for petrol and 0.6 pence per litre for diesel over two days.
  • Current prices are just under 158p per litre for petrol and 191p per litre for diesel.
  • Diesel prices are about £26 higher per full tank than in late February; petrol is nearly £14 more expensive.
  • Fuel prices rose due to the closure of the Strait of Hormuz, a major oil shipping route, causing crude oil prices to peak at over $119 per barrel.
  • Since a temporary ceasefire, crude oil prices have fallen below $100 per barrel.
  • A $10 change in oil price usually leads to about a 7p per litre change in pump prices.
  • Many people in the UK are worried about high fuel costs, with 75% saying fuel prices have increased living expenses as of March.
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UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

Summary

OnlyFans, a UK-based adult video platform, is in talks to sell less than 20% of its business to a US investment firm, valuing the company at over $3 billion. The sale aims to provide stability after the death of its founder, Leonid Radvinsky, and may help OnlyFans offer banking services to its content creators.

Key Facts

  • OnlyFans is a London-based adult content platform known for subscription-based videos.
  • The company is negotiating with Architect Capital, a San Francisco investment firm, to sell a minority stake of less than 20%.
  • This deal would value OnlyFans at more than $3 billion (£2.2 billion).
  • Founder Leonid Radvinsky, a Ukrainian-American billionaire, died of cancer at age 43 last month.
  • OnlyFans wants to partner with Architect Capital partly because of their financial services experience, to help creators access banking products.
  • The platform has 4.6 million creator accounts and 377 million fan accounts.
  • In the year ending November 30, 2024, OnlyFans made $1.4 billion in revenue and $684 million in pre-tax profit.
  • Payments to creators totaled $7.2 billion, up nearly 10% from the previous year.
  • Radvinsky received $701 million in dividends in 2024, adding to over $1 billion received before.
  • Earlier talks considered selling a majority stake, but a minority sale would keep control with Radvinsky’s family trust.
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Employees at first ever Starbucks store seek to unionize amid fight for contract

Employees at first ever Starbucks store seek to unionize amid fight for contract

Summary

Workers at the original Starbucks store in Seattle’s Pike Place Market are trying to form a union to negotiate better work conditions. They face challenges including long customer lines, safety issues, and slow union contract talks with Starbucks.

Key Facts

  • The first Starbucks store opened in 1971 at Seattle’s Pike Place Market and is now a popular tourist spot.
  • Workers report long lines and wait times of up to two hours due to high tourist visits.
  • Employees handle extra customer service duties and face safety concerns from difficult customers.
  • Baristas at this store have experienced unfair treatment, favoritism, discrimination, and harassment.
  • Over 600 Starbucks stores in the U.S. have unionized since 2021; the Pike Place store recently filed for a union election.
  • Negotiations for the first union contract have stalled for over four years, longer than the average 465 days it takes unions to reach a contract.
  • Starbucks Workers United filed unfair labor practice charges against the company for trying to cancel tentative agreements.
  • The union is asking the public to support workers by avoiding Starbucks purchases and deleting the Starbucks app during contract talks.
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Airline adding triple-decker bunk beds in economy-class for long-haul flights

Airline adding triple-decker bunk beds in economy-class for long-haul flights

Summary

Air New Zealand will introduce triple-decker bunk beds in economy and premium economy class on its new Boeing 787-9 planes for long flights, starting with the Auckland to New York route. Passengers can book four-hour sleep sessions in these pods for an extra fee, allowing them to lie flat during the 16 to 18 hour flight.

Key Facts

  • The new "Skynest" sleep pods are triple-tier bunk beds located between cabins.
  • Each pod is about 80 inches long and 16 to 25 inches wide, requiring passengers to climb or crawl inside.
  • Passengers can book four-hour sleep slots in advance for about 495 New Zealand dollars ($291) extra.
  • The pods will be available only on Air New Zealand’s Boeing 787-9 planes starting in November.
  • Passengers must wear special socks, avoid eating, sharing the pod, and using strong perfumes.
  • Fresh pillows, blankets, and sheets are supplied and changed after every use.
  • Passengers will be woken up gently by lighting or by flight attendants after four hours.
  • This is the first time an airline offers lie-flat beds to economy-class passengers on such long flights.
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Richard Desmond loses £1.3bn damages battle over national lottery licence

Richard Desmond loses £1.3bn damages battle over national lottery licence

Summary

Richard Desmond, a media businessman, lost his legal claim seeking up to £1.3 billion in damages after the Gambling Commission decided not to give him the national lottery license. The court found no major mistakes in the lottery awarding process, confirming that the decision was lawful.

Key Facts

  • Richard Desmond wanted the national lottery licence for 10 years but was not awarded it.
  • He claimed the Gambling Commission made serious errors and sought damages up to £1.3 billion.
  • Desmond’s companies started legal action against the commission in 2022.
  • The lottery license, worth £6.5 billion, was given to Allwyn, owned by Czech billionaire Karel Komárek.
  • The court ruled that no errors were made and the competition result was fair.
  • Desmond rejected a £10 million settlement offer linked to the case.
  • He also failed in a previous legal claim about Allwyn receiving a £70 million marketing subsidy.
  • The damages he sought would likely have come from lottery funds meant for good causes.
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What Magyar's election win means for Hungary's economy and Europe

What Magyar's election win means for Hungary's economy and Europe

Summary

Peter Magyar’s centre-right Tisza party won a large victory in Hungary, defeating longtime Prime Minister Viktor Orban. Magyar plans to improve Hungary’s relationship with the European Union, which could lead to more EU funding and economic support, but budget challenges and currency adoption remain major issues.

Key Facts

  • Hungary’s centre-right Tisza party led by Peter Magyar won decisively over Viktor Orban’s nationalist party.
  • Magyar aims to repair Hungary’s strained relationship with the European Union.
  • Better EU ties could unlock funding for both Hungary and Ukraine.
  • Many voters were unhappy with the economy under Orban’s 16 years in power.
  • Magyar’s party has a long list of promises, including increased government spending.
  • Hungary’s budget deficit is expected to be about 5-5.5% this year.
  • The war in Iran is causing extra financial strain on the budget.
  • Magyar wants Hungary to join the eurozone, using the shared European currency.
  • Hungary currently does not meet the economic requirements (Maastricht criteria) to join the eurozone.
  • Achieving eurozone membership will take significant economic reforms and effort.
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Iran war’s big winners: Wall Street, weapons firms, AI and green energy

Iran war’s big winners: Wall Street, weapons firms, AI and green energy

Summary

The International Monetary Fund (IMF) lowered its global growth forecast for 2026 due to the war between the United States and Israel against Iran and related disruptions in the Strait of Hormuz. Despite the negative economic effects, some industries like Wall Street banks, weapons companies, AI, and green energy are benefiting from the conflict and market volatility.

Key Facts

  • The IMF reduced the world growth forecast for 2026 from 3.3% to 3.1% because of the US-Israel war on Iran.
  • The Strait of Hormuz closure and US naval blockade have stranded important exports such as oil, gas, chemicals, and fertilizer.
  • Low-income and developing countries are expected to be hit hardest by rising commodity and energy prices.
  • Major investment banks like Morgan Stanley, Goldman Sachs, and JPMorgan Chase have reported big profit increases due to increased trading volume.
  • Wall Street traders are reacting to unpredictable decisions by President Donald Trump, leading to more frequent trades and higher bank profits.
  • Crypto prediction platforms like Polymarket have seen huge gains by allowing bets on events including the Iran war.
  • Polymarket changed its fees in March, earning significantly more from users betting on future conflicts and other outcomes.
  • The conflict has created a mixed economic picture, with some sectors losing and others experiencing growth.
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Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool

Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool

Summary

British banks will soon start using a new AI tool called Mythos, made by the company Anthropic, which was previously considered too risky for public use. Finance leaders and regulators are warning that this AI can find and exploit weaknesses in computer systems, posing risks to financial security and national safety.

Key Facts

  • Anthropic will give UK financial institutions access to Mythos within the next week.
  • Mythos is an advanced AI model capable of discovering software weaknesses better than most humans.
  • Anthropic has so far shared Mythos mainly with big US companies like Amazon, Apple, and Microsoft.
  • Finance officials, including those at the IMF and World Bank meetings, are concerned about the risks Mythos poses to the global financial system.
  • The AI’s ability to exploit IT system flaws could have serious economic, safety, and security consequences.
  • Bank of England Governor Andrew Bailey said regulators must decide the right timing to introduce rules for AI technology.
  • European Central Bank President Christine Lagarde noted the lack of a current framework to manage these AI risks and stressed the need to develop one.
  • The Canadian finance minister highlighted the challenge of dealing with an unknown threat like this AI tool, calling for safeguards to maintain financial system resilience.
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Chinese carmaker patents voice-controlled 'in-vehicle toilet'

Chinese carmaker patents voice-controlled 'in-vehicle toilet'

Summary

Chinese electric car maker Seres has received a patent for a voice-controlled toilet that slides out from under a passenger seat. The toilet is designed for use during long trips, camping, or while staying inside the car, and includes features to manage waste and odors.

Key Facts

  • The toilet slides out from beneath a passenger seat using voice commands or a push button.
  • It has a fan and exhaust pipe to remove odors from inside the car.
  • Waste is collected in a tank that must be emptied manually.
  • A heating element evaporates urine and dries other waste materials.
  • When not in use, the toilet is hidden under the seat to save space.
  • Seres is a Chinese electric vehicle company known for sport utility vehicles (SUVs).
  • In-car toilets are uncommon but exist in some long-distance buses and vintage luxury cars.
  • China’s electric vehicle market is crowded and competitive, with many companies facing financial challenges.
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Asian stocks lower and oil falls after Wall Street sets another record on ceasefire hopes

Asian stocks lower and oil falls after Wall Street sets another record on ceasefire hopes

Summary

Asian stock markets dropped on Friday, even though U.S. stocks reached new record highs. Investors are watching for progress in U.S.-Iran talks and the possibility of extending a ceasefire in the Iran war, which affected oil prices that fell after earlier rises.

Key Facts

  • Asian stock markets, including Tokyo's Nikkei 225 and Hong Kong's Hang Seng, fell by around 1%.
  • The Iran war ceasefire expires soon, and talks are ongoing between the U.S. and Iran to extend it.
  • President Donald Trump indicated he might support extending the ceasefire.
  • Oil prices dropped, with Brent crude down 1.1% to $98.31 per barrel after a previous sharp rise.
  • The Strait of Hormuz remains mostly closed, and the U.S. has a naval blockade on Iranian ports, affecting global energy supplies.
  • The International Energy Agency warned Europe has about six weeks of jet fuel left, risking flight cancellations.
  • On Wall Street, the S&P 500 and Nasdaq reached record highs, helped by strong corporate earnings from companies like PepsiCo and J.B. Hunt.
  • Gold and silver prices rose slightly, and the U.S. dollar strengthened against the Japanese yen.
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Every Record Justin Bieber and SKYLRK Broke Before Coachella Weekend 2

Every Record Justin Bieber and SKYLRK Broke Before Coachella Weekend 2

Summary

Justin Bieber made history at Coachella by setting new records for earnings, ticket sales, and live streaming during his headline performance. His clothing and lifestyle brand SKYLRK also broke sales records by earning over $5 million at the festival, surpassing previous records.

Key Facts

  • Justin Bieber headlined Coachella on April 10 and again on April 18.
  • Bieber earned a reported $10 million for his Coachella headlining, the highest ever for the festival.
  • Ticket demand and ticket prices for Bieber’s show were the highest in Coachella history.
  • His 90-minute performance was the most viewed live in Coachella’s history.
  • Bieber’s brand SKYLRK sold $5.04 million worth of merchandise during the festival weekend, beating the previous record of $1.7 million.
  • SKYLRK’s "Oasis" space and shop covered 10,000 square feet at Coachella.
  • Bieber co-founded SKYLRK with Neima Khaila and launched it in July last year.
  • Bieber’s music streams increased significantly during and after his Coachella performance.
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Australia fuel watch tracker: check current petrol and diesel prices, service station outages and shipments – in charts

Australia fuel watch tracker: check current petrol and diesel prices, service station outages and shipments – in charts

Summary

Australia is facing a fuel crisis with rising prices and some fuel station outages since the conflict between the US and Israel and Iran began. The government has released fuel reserves, cut fuel taxes, and launched a plan to maintain fuel security while tracking data on fuel deliveries, prices, and shortages across the country.

Key Facts

  • The Australian government has released fuel reserves and reduced fuel excise taxes to help during the fuel crisis.
  • Fuel prices for petrol and diesel have risen since late February, linked to the US and Israel's conflict with Iran.
  • Many independent businesses and local governments are involved, making it harder to understand the full situation with fuel availability.
  • Fuel outages have spiked in New South Wales and Victoria around late March, with stations running out and then restocking fuel.
  • At least six fuel shipments to Australia have been canceled or delayed, and more delays are expected.
  • Data shows fewer oil tankers visiting Australian ports in February and March compared to past years.
  • The number of tankers passing through the strait of Hormuz dropped sharply early in March, affecting global oil supply.
  • Despite the crisis, Australian fuel reserves have increased since before the conflict, and the government lowered mandatory fuel stockpiles for companies.
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Is 'Law & Order: SVU' Canceled or Renewed at NBC?

Is 'Law & Order: SVU' Canceled or Renewed at NBC?

Summary

NBC has renewed the TV show "Law & Order: SVU" for its 28th season due to its ongoing popularity. The show continues to feature Mariska Hargitay as Olivia Benson and Ice-T, with the next season set to air starting April 23.

Key Facts

  • "Law & Order: SVU" was renewed by NBC for a 28th season.
  • "Law & Order: Organized Crime" was canceled after five seasons.
  • Mariska Hargitay will continue playing Olivia Benson, and Ice-T will return as well.
  • The show is part of the long-running "Law & Order" franchise.
  • "Law & Order: SVU" has won six Primetime Emmy Awards.
  • The show is known for its strong fan base and cultural impact.
  • It originally premiered in 1999 and remains popular after many years.
  • The new season will begin airing on April 23.
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Albanese says no fuel restrictions in wake of massive Geelong refinery fire

Albanese says no fuel restrictions in wake of massive Geelong refinery fire

Summary

Prime Minister Anthony Albanese said that a big fire at the Viva Energy refinery in Geelong caused petrol production to drop by 40%. However, he confirmed the fire will not lead to fuel restrictions, and most diesel and aviation fuel production continues. The refinery normally processes 120,000 barrels of oil daily, and the company plans to cover lost fuel by increasing imports.

Key Facts

  • A fire burned for 13 hours at the Viva Energy refinery in Geelong, Victoria.
  • Petrol production dropped to about 60% of normal levels after the fire.
  • Diesel and aviation fuel production are still running at around 80% capacity.
  • The refinery processes about 120,000 barrels of oil each day.
  • Viva Energy said the fire area affects the part that combines LPG into gasoline-type molecules.
  • The cause of the fire is under investigation, but no signs point to maintenance problems or increased production.
  • The government says there will be no fuel restrictions or move to higher alert stages in the national fuel plan.
  • Fuel supply losses from the fire will be offset by imports to avoid shortages.
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Major refinery fire won't lead to fuel rationing, Australian PM says

Major refinery fire won't lead to fuel rationing, Australian PM says

Summary

A major fire at Australia's Viva Corio oil refinery has reduced fuel production but will not cause fuel rationing, Prime Minister Anthony Albanese said. The refinery makes a significant portion of the state's and country’s fuel, and the government is working to manage fuel supply and prices.

Key Facts

  • A fire at Viva's Corio refinery near Geelong started just before midnight Wednesday and burned for 13 hours.
  • The refinery produces about 50% of the state's fuel and 10% of Australia's fuel.
  • The fire was caused by equipment failure.
  • Currently, 80% of diesel and aviation fuel production continues, and 60% of petrol production is ongoing.
  • Australia is at stage two of a four-level fuel security plan; stage three involves possible fuel rationing, which is not planned now.
  • Prime Minister Albanese returned early from a trip to visit the refinery and secure more oil supplies.
  • Australia relies heavily on imported refined fuels and recently secured an extra 100 million liters of diesel from Brunei and South Korea.
  • The prime minister expressed a desire for Australia to have more of its own oil refineries.
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Finance ministers and top bankers raise serious concerns about Mythos AI model

Finance ministers and top bankers raise serious concerns about Mythos AI model

Summary

Finance ministers and top bankers are worried about a new artificial intelligence (AI) model called Claude Mythos, developed by Anthropic. This AI can find security weaknesses in major computer systems and web browsers, potentially threatening financial systems' safety.

Key Facts

  • Claude Mythos is an AI model that can detect security flaws in important operating systems and browsers.
  • The model has raised alarms among finance ministers and central bankers at the International Monetary Fund (IMF) meeting.
  • The Canadian finance minister said the risks from Mythos are unclear and need close attention.
  • Banks like Barclays will test their systems with the model before it is released to the public.
  • Anthropic has shared access to governments and banks early to help protect against cyber threats.
  • The Bank of England’s governor emphasized the importance of studying how this AI could increase cybercrime risks.
  • The US Treasury asked major banks to examine their security ahead of the public release.
  • Another US AI company may soon release a similar model but without as many protections.
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Gas prices start to show signs of dropping

Gas prices start to show signs of dropping

Summary

Gas prices have been high for several weeks, but now they are starting to go down. Drivers may begin to pay less when they fill up their cars.

Key Facts

  • Gas prices have been high recently.
  • The prices are now showing signs of dropping.
  • This change could give relief to drivers at gas stations.
  • Patrick De Haan, a petroleum analyst for GasBuddy, discussed this trend.
  • GasBuddy tracks and analyzes gas price changes.
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