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Business news, market updates, and economic developments
Asian stock markets mostly rose on Friday after strong earnings reports from tech companies like Nvidia boosted U.S. stocks. While South Korea's main index fell slightly, other markets in Tokyo, Hong Kong, Australia, and Taiwan saw moderate gains. Investors are also watching for a Federal Reserve speech that could affect inflation policy.
Key Facts
Nvidia’s latest quarterly profits and revenue were higher than analysts expected.
Nvidia’s stock rose 8.7%, driven by strong demand for AI-related computer chips.
Salesforce’s stock jumped 22.6% after reporting a very strong quarter helped by AI technology.
Other Asian markets mostly gained: Tokyo’s Nikkei rose 0.8%, Hong Kong’s Hang Seng 0.3%, Australia’s S&P/ASX 200 0.3%, and Taiwan’s Taiex surged 1%.
South Korea’s Kospi index fell 1% to 6,841.50.
U.S. futures were mostly unchanged, while oil prices fell slightly on Friday.
The price of Brent crude oil was $88.24 per barrel, down 0.3%; U.S. crude oil was $83.17 per barrel, down 0.4%.
Investors are awaiting a speech from Federal Reserve Chairman Kevin Warsh, who is expected to provide limited guidance on inflation policy.
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The federal Labor government will introduce new national laws requiring datacentres to use 100% renewable energy, without special exemptions for Queensland or the Northern Territory. States can apply for exceptions only if they can prove using coal or gas power is cheaper, but the Australian Energy Regulator will make the final decision.
Key Facts
The government will require datacentres across Australia to use only renewable energy supported by firming (backup power sources).
No automatic exemptions will be given to Queensland or the Northern Territory despite their interest in using coal or gas.
States or territories can request an exemption if they prove fossil fuels are cheaper, but this is expected to be difficult.
The Australian Energy Regulator will review all exemption requests and decide whether to approve them.
The national rules aim to prevent datacentres from raising energy prices for homes and businesses.
Datacentre energy use in Australia is expected to grow seven times in the next decade.
The government will use constitutional powers to enforce these national datacentre energy standards even if states disagree.
Australia’s carbon emissions fell 1.6% in the year to March 2026, mainly due to more solar, wind, and battery use replacing coal and gas.
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The Trump administration is negotiating a deal with Venezuela to secure long-term access to Venezuelan oil fields, allowing American companies to develop them and supply oil to the US. The agreement could involve leasing oil fields and aims to help US refineries and replenish the country's emergency oil reserves.
Key Facts
The US is working on a deal to gain control over some Venezuelan oil fields.
The deal would let American companies operate these fields and send oil to the US.
Negotiations include 17 oil fields in Venezuela, including new areas in the Orinoco Belt and older ones in Lake Maracaibo.
Venezuela might leave OPEC as it strengthens relations with the US.
Venezuela’s current laws do not allow leasing of oil areas, but recent reforms permit joint ventures and production-sharing contracts.
The deal faces potential legal and constitutional challenges in Venezuela.
The US aims to reduce fuel prices and refill its Strategic Petroleum Reserve amid recent supply challenges.
Former Venezuelan President Nicolas Maduro was removed from power in January, and the US wants stable Venezuelan oil exports after that change.
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Selena Gomez faces a lawsuit where investors claim she did not support the mental health company Wondermind as promised, leading to nearly $1.2 million in alleged losses. Gomez denies the claims and her lawyer has asked to dismiss the case, saying the accusations are vague and wrong.
Key Facts
Selena Gomez co-founded the mental health platform Wondermind with her mother five years ago.
Investors say Gomez promised to actively lead marketing for the company but failed to do so.
The investors claim they lost almost $1.2 million because of her alleged breach of contract.
Gomez’s lawyer says she never agreed to manage the company or make the commitments investors describe.
Gomez is asking the court to remove her from the lawsuit entirely.
Her mother and other Wondermind co-founders are also involved in the fraud allegations.
Experts note that mixing family and business can create risks and unclear responsibilities.
Despite negative headlines, the impact on Gomez’s reputation may be limited among her main fans.
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This article tells how Ella Hewitt overcame a shopping addiction that made her spend up to £700 each month on clothes she didn’t need. She used strategies like waiting 30 days before buying and setting imaginary budgets to reduce her spending by about 60%. Experts say shopping addiction affects mostly women and offer tips to control impulsive spending.
Key Facts
A study found that 7% of adults worldwide struggle with shopping addiction, especially younger women.
Ella Hewitt spent roughly £700 a month in 2021 on fast fashion she often never wore.
Ella’s addiction was linked to feeling a dopamine “hit” or pleasure from shopping, fueled by social media trends.
She used tactics such as postponing purchases for 30 days and creating imaginary daily budgets to control impulses.
Ella reduced her shopping by 60% and now works as an ethical fashion influencer.
The Ukat Group reports 90% of their shopping addiction cases are women and lists signs like mood improvement after buying and guilt afterward.
Tips to reduce spending include waiting before purchasing, deleting saved cards and apps, making lists, setting budgets, and avoiding triggers like boredom or stress.
Support groups like Citizens Advice and National Debtline provide help for people with money problems related to shopping addiction.
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The Shanghai Ravioli Corporation is recalling about 24,900 pounds of frozen Buffalo chicken products because they were made without required federal inspection. The U.S. Department of Agriculture warns the products might contain harmful contaminants or allergens and advises foodservice locations to discard or return them.
Key Facts
The recall involves frozen Buffalo chicken products like Buffalo Chicken Rangoon and Buffalo Chicken Mozzarella Sticks.
Products were made between July 8, 2025, and June 29, 2026, with sell-by dates from July 8, 2026, to June 29, 2027.
These products were wrongly labeled with a federal inspection number (“EST. 18004”), but the facility does not have inspection approval.
The recalled items were sent to foodservice locations in Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
No illnesses or injuries linked to these products have been reported so far.
The USDA’s recall is a Class I recall, meaning the products could cause serious health problems or death.
Consumers and foodservice providers are asked not to eat these products and to return or throw them away.
Similar recent recalls involved blueberries and pistachio nut butter due to bacteria contamination risks.
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Disney has agreed to pay $50 million to settle a lawsuit alleging it used its popular channels, like ESPN, to increase the price of streaming TV services YouTube TV and DirecTV Stream. Subscribers who used these services between April 2019 and March 2026 have until September 8 to claim part of the settlement.
Key Facts
The lawsuit claims Disney’s programming practices raised the cost of live TV streaming.
Disney denies any wrongdoing but settled for $50 million.
The case involves YouTube TV and DirecTV Stream subscribers from April 1, 2019, to March 31, 2026.
Eligible customers include past and current subscribers.
Consumers must file claims by September 8 to receive payment.
Settlement payments depend on how long subscribers had the service.
Notices about the settlement were sent by email or mail to inform subscribers.
Claims can be submitted online at OnlineTVSettlement.com or by phone.
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Federal Reserve Chair Kevin Warsh is attending an important economic meeting in Jackson Hole, Wyoming. Investors are closely watching him for clues about the future of the U.S. economy.
Key Facts
Kevin Warsh is the Chair of the Federal Reserve, which oversees U.S. monetary policy.
He is traveling to Jackson Hole, Wyoming, for an economic symposium.
The Jackson Hole meeting is a well-known event where economic leaders discuss financial and economic issues.
Investors pay close attention to statements made at this event as they can affect markets.
Warsh’s comments may impact expectations about interest rates and economic growth.
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The government is launching a new scheme to protect people doing home renovations from dishonest builders, often called "cowboy builders." This plan includes a database of trusted traders and a payment system that releases money only after certain work is done. Alongside this, new rules will regulate private bailiffs to prevent unfair treatment of people in debt.
Key Facts
The new scheme starts next month and requires traders to show good customer service and fair dispute handling.
More than 25% of people doing home improvements recently have faced problems like builders disappearing after upfront payments.
Customers lost over £10 billion in 2024 due to bad practices by builders and traders, according to a government survey.
Payments for home work will be held in an account and released step-by-step as the job progresses.
The National Federation of Builders says the scheme may not stop dishonest builders, and suggests a work "passport" to track builders’ performance.
Some politicians warn the scheme could add extra paperwork for honest businesses without stopping fraudsters.
The government will introduce rules for private bailiffs to protect debtors from intimidation and unfair payment demands.
An independent complaints system will be available for people dealing with private bailiffs.
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Federal Reserve Chair Kevin Warsh is attending an important economic meeting in Jackson Hole, Wyoming. Investors will watch closely for any signs about the Federal Reserve’s plans to handle high inflation and a nervous bond market.
Key Facts
Kevin Warsh is the Chair of the Federal Reserve.
He will speak at an economic symposium in Jackson Hole, Wyoming.
The event is a key meeting where central bankers and investors discuss economic issues.
Inflation remains a significant concern for the economy.
The bond market is showing signs of nervousness, meaning investors are worried about risks.
Investors want to know how the Federal Reserve will address inflation and market instability.
Warsh is known for a careful communication style, sharing only limited information.
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Canada's lead trade negotiator welcomed the US decision to not apply tariffs on measures supporting the French language and Canadian culture during trade talks. The change comes amid ongoing tariff disputes between the two countries, with Canada imposing retaliatory tariffs on US goods and later adjusting some of them.
Key Facts
Canada’s top trade negotiator, Dominic LeBlanc, praised the US for not taxing French language promotion and cultural measures.
The US Trade Representative said that French language discoverability on streaming services is not a major issue for the US in talks.
Commerce Secretary Howard Lutnick denied that the US raised concerns about the French language and called the issue "manufactured."
Canada and the US have recently imposed tariffs on each other's goods, including Canada’s tariffs on about $20 billion of US products starting September 8.
President Donald Trump signed an executive order to rename Lake Ontario as "Lake America."
Canadian Prime Minister Mark Carney claimed the US threatened the French language and Canadian culture during talks.
Canada later removed seafood and fish products from its list of retaliatory tariffs to reduce economic harm.
Canada is monitoring how tariffs affect industries targeted by US tariffs and may adjust measures accordingly.
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Author and personal finance expert Anthony O’Neal shares advice on how people can avoid financial problems when their paycheck does not increase. His tips focus on helping people stop living paycheck-to-paycheck and reduce money stress.
Key Facts
Anthony O’Neal is a personal finance expert and author.
He wrote a book called “Stop Living Paycheck to Paycheck.”
His advice aims to help people manage money better when income stays the same.
The focus is on avoiding financial stress and building financial stability.
Living paycheck-to-paycheck means spending all your money before the next paycheck arrives.
The article shares practical tips to improve financial situations.
The advice is meant for people who do not see their paychecks getting larger.
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Mike Ashley, the billionaire founder of Sports Direct, has criticized Prime Minister Andy Burnham’s recent retail and cost of living policies, calling them short-sighted and harmful to businesses. Ashley urged Burnham to lower costs for employers, especially by reforming business rates, and expressed concern that the current plans could damage the High Street.
Key Facts
Mike Ashley wrote a letter to Prime Minister Andy Burnham criticizing policies on business rates and worker costs.
Ashley described Burnham’s ideas as “populist” and “disastrous,” particularly the plan to raise business rates on large warehouses.
Burnham’s government plans include cutting VAT on household electricity and reducing business rates for pubs, social clubs, and live music venues.
Burnham has proposed measures to help local councils block new vaping and betting shops and to regulate misleading retail prices.
Ashley called for a fundamental overhaul of business rates to make competition fairer between physical stores and online retailers.
Ashley’s business, Frasers Group, owns Sports Direct and recently bought luxury department store Harvey Nichols.
Ashley warned that without major changes, Britain’s High Street could suffer further decline.
A Downing Street spokesperson said these policies aim to support British businesses and make essentials like energy and housing more affordable.
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Opening a 9-month certificate of deposit (CD) account with $100,000 can earn savers close to $3,000 in interest, depending on the bank's rate. CDs offer a fixed, guaranteed return and protect the deposit up to $250,000 through FDIC insurance, making them a safe option for saving money short-term.
Key Facts
A 9-month CD lets savers lock in higher interest rates than most savings accounts.
Interest earned ranges from about $2,985 to $3,060 on a $100,000 deposit.
This equals roughly $332 to $340 earned per month during the 9 months.
CD rates vary by bank, so shoppers should compare offers before investing.
Early withdrawal from a CD usually leads to a penalty, so money should stay invested until maturity.
The principal (initial $100,000) does not change and is protected by FDIC insurance up to $250,000.
Online banks often provide better CD rates than traditional banks with physical branches.
After 9 months, savers can review their strategy based on the economic environment then.
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Senator Susan Collins from Maine has called for the United States to restart trade talks with Canada. She expressed concern over the ongoing trade tensions and high tariffs that both countries have applied to each other.
Key Facts
Senator Susan Collins is a Republican from Maine.
The U.S. and Canada have imposed 50 percent tariffs on each other.
These tariffs came after trade negotiations between the two countries failed recently.
Collins has criticized the high tariffs as harmful.
She urged the U.S. to return to trade discussions with Canada.
Collins shared her message on the social media platform X.
The current trade conflict involves a tit-for-tat exchange, meaning each country responds to the other's tariffs with similar measures.
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Donors in De Smet, South Dakota, helped raise over $15 million in private funds for local projects over 15 years, including a community and event center completed in 2015. The projects were mostly paid for by donations, with little city or federal money used, showing strong local support for town development.
Key Facts
De Smet has about 1,100 residents.
A community and event center was built in 2015 with $5 million raised mostly from private donations.
The initial project budget was $3.8 million but bids came in $1 million higher than expected.
Local donors gave over 1,400 individual contributions, many matched by the company Lyle Signs.
The city contributed about $400,000 and received a $100,000 federal grant for the event center.
The city covers up to $90,000 per year in the center’s running costs; the rest comes from fees.
The council initially hesitated to approve the project because of cost concerns and social media questions.
At the last moment, local supporters donated the final funds needed, allowing the project to move forward.
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Canada decided not to include seafood and fish products in its planned tariffs on goods from the United States. This change aims to avoid wider harm to the economy and comes after receiving feedback from stakeholders.
Key Facts
Canada announced it would remove seafood and fish products from retaliatory tariffs on U.S. goods.
The decision was made by Canada’s Department of Finance.
The government acted in response to feedback they received.
Removing these products from tariffs is meant to protect the economy from larger damage.
The tariffs are part of Canada’s measures in trade disputes with the United States.
The changes were announced on a Wednesday evening.
The seafood industry was directly affected by this exemption.
Canada and the U.S. have ongoing trade tensions involving tariffs and levies.
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A privacy class action settlement is about to start paying out money to eligible people. Hundreds of millions of people may qualify to receive money through this settlement.
Key Facts
The settlement is related to privacy issues.
Payments will start in the next few weeks.
People should watch their bank accounts, Venmo, and PayPal for incoming payments.
Up to hundreds of millions of people may qualify for the payout.
This is a result of a class action lawsuit, which means a group of people sued a company or companies together.
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Pet insurance helps pet owners manage the cost of expensive veterinary treatments by reimbursing part of the bill, giving them more financial flexibility. However, insurance does not change the treatment a vet recommends, and coverage limits and exclusions mean not all costs may be covered.
Key Facts
Veterinary treatments can be very costly, especially for emergencies or specialized care.
Pet insurance reduces the money pet owners have to pay out of pocket but does not cover all expenses.
Insurance coverage varies widely with different policies having deductibles, reimbursement rates, and limits.
Some conditions, like pre-existing illnesses, may be excluded from coverage.
Most pet insurance pays claims by reimbursing the owner after payment, requiring upfront funds.
A few insurers offer direct payment to vets, but this is uncommon.
Pet insurance allows owners to consider vet recommendations without being limited strictly by cost.
The insurance policy influences financial decisions but does not affect medical treatment choices.
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This article explains how much interest $40,000 can earn in one year depending on where it is saved. It compares four types of accounts: traditional savings, money market, high-yield savings, and one-year certificates of deposit (CDs), highlighting their interest rates and risks.
Key Facts
A traditional savings account pays about 0.38% interest, earning $152 on $40,000 in one year.
A money market account offers around 4.00% interest, earning $1,600 in one year.
A high-yield savings account pays about 4.10%, earning $1,640 in a year.
A one-year CD pays the highest at 4.30%, earning $1,720 but requires leaving money untouched to avoid penalties.
Money market and high-yield savings accounts have variable rates that may change, while CDs have fixed rates.
Traditional savings accounts offer very low returns and may not keep up with inflation.
Stock market investments can average around 10% annually but come with risks of losing money.
Choosing the right account depends on balancing security, interest earnings, and risk tolerance over the year.
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