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Business news, market updates, and economic developments
Ghana has stopped the export of unrefined (raw) gold from the country. The government wants to process gold within Ghana to make more money from its gold resources instead of just selling raw minerals.
Key Facts
Ghana is Africa’s top gold producer.
The export ban applies only to unrefined gold, meaning gold that hasn’t been processed or purified.
The goal is to create more economic value within Ghana by processing gold locally.
This move aims to reduce dependency on exporting raw minerals.
The ban was officially announced on August 27, 2026.
Local gold refining could create jobs and boost Ghana’s economy.
The ban may affect businesses involved in the gold export industry.
This is part of Ghana’s broader plan to move up the value chain in mining.
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Young workers are leaving digital careers because many entry-level jobs are being replaced by AI automation. Instead, they are choosing traditional crafts like bookbinding and metalwork, which rely on skills AI cannot imitate easily and have steady demand.
Key Facts
AI is disrupting many entry-level white-collar jobs, including accounting, software engineering, and law.
Creative jobs are also affected by AI tools that can quickly create art and writing.
Some young people are learning traditional crafts that need hands-on skills and creativity, like bookbinding and metalwork.
These crafts use old techniques and tools that have changed little for centuries.
Apprenticeships in these crafts are in high demand, with many more applicants than available places.
Handcrafted goods are valued commercially, and some publishers avoid using AI in their creative work.
Industry leaders see new interest from young people as essential to keeping these crafts alive.
Craft work is seen as satisfying, meditative, and resistant to automation by AI.
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The Trump administration is planning to introduce new tariffs on semiconductor products and related tech devices like laptops and gaming consoles. This move aims to boost U.S. chip manufacturing but faces concerns from tech companies about its impact on America's leadership in artificial intelligence.
Key Facts
The administration wants to impose tariffs not just on chips but also on many tech products made with chips.
Commerce Secretary Howard Lutnick supports linking tariff relief to foreign companies investing in U.S. chip production.
A gradual phase-in of the tariffs is being considered.
The plan is still being developed and may change in the coming weeks or months.
Technology companies warn these tariffs could slow down progress in artificial intelligence.
The tariffs are part of efforts to encourage more chip manufacturing domestically in the U.S.
The reported information comes from multiple sources cited by Politico.
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Meta has agreed to make major changes to Instagram and Facebook to protect teenage users as part of a settlement that ends a big lawsuit in California. The company will pay up to $18 billion and set new safety rules, like daily time limits and blocking app use at night for teens in the US.
Key Facts
Meta will change Instagram and Facebook to have safety limits turned on by default for teenage users.
The company agreed to pay up to $18 billion to settle the lawsuit.
The lawsuit accused Meta of making addictive apps that harm teenagers’ mental health.
California and 28 other US states joined the lawsuit against Meta.
New rules include daily usage limits and stopping the apps from working late at night for teens.
Meta denies any wrongdoing but calls on other social media companies to adopt similar safety measures.
The settlement ends a major trial in California but does not fully settle broader concerns about app safety.
Meta’s chief legal officer said an industry-wide solution is needed because teens use many apps.
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Texas and Florida have grown their economies partly due to changes in their legal systems called tort reforms. These reforms limited lawsuits and legal costs, encouraging business growth. Now, these legal protections are in danger, which could affect their economic success.
Key Facts
Texas and Florida reshaped their legal rules to limit lawsuits and reduce costs for businesses.
These changes are known as tort reforms.
Tort reforms helped attract companies and investments to these states.
The legal protections made doing business cheaper and less risky.
Currently, these tort reforms face challenges that may reduce their effectiveness.
Losing these protections could slow down economic growth in Texas and Florida.
The states are known for their strong economies in the U.S.
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The average CEO at the 100 largest U.S. companies with the lowest worker pay earned 614 times more than their workers in 2025. CEO pay rose much faster than worker pay and inflation between 2019 and 2025, widening the gap between executives and employees.
Key Facts
The average CEO at these 100 companies earned $17.5 million in 2025.
Median worker pay at these companies was $36,571 in 2025.
CEO pay increased by 41.4% from 2019 to 2025, while worker pay increased by 20.7%.
Inflation rose by 25.9% over the same period.
Walmart’s CEO earned 958 times more than its median worker in 2025.
These companies collectively employed 1,282 federal lobbyists.
Stock buybacks by these firms totaled $108.6 billion in 2025, up from $105 billion in 2024.
Policy ideas to reduce pay inequality include higher taxes on corporations with large CEO-to-worker pay ratios and increased taxes on stock buybacks.
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This article looks at whether young people from Generation Z are moving away from traditional full-time jobs and choosing side jobs or freelance work instead. It also features a conversation with a business owner who started a side business without quitting his main job.
Key Facts
The article discusses the trend of Generation Z considering alternatives to 9-to-5 jobs.
It explains the rise of the gig economy, which involves short-term or freelance work instead of regular full-time jobs.
The hosts include Jill Schlesinger, Mark, and a guest host named Kayla Sabbagh.
They talk about the pros and cons of leaving corporate jobs for side hustles or freelance work.
The episode features an interview with Ben, who started a company called Ready Golf Club as a side business.
Ben successfully manages his side business without quitting his main job.
The discussion highlights different views on working in corporate America versus pursuing more flexible work options.
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Dolly Parton, who recently passed away, had many business projects planned, including a biopic, coffee brand, dog treats, and a themed hotel. Her manager said she worked until the day she died and carefully guided these projects to continue her legacy.
Key Facts
Dolly Parton died peacefully in Nashville after a short battle with cancer.
She was involved in many upcoming projects like a biopic, documentary, hotel, coffee brand, dog treats, and a museum.
Parton had worked closely with a chosen team to create a long-term plan for her projects.
She was exploring new touring methods using avatar performances before her death.
Her Broadway show, "Dolly: A True Original Musical," is set to open in December.
Flags across the US were flown at half-mast in tribute to her.
She left a secret song locked away to be released in 2045.
Experts praised her as a smart businesswoman who inspired others, especially women, about financial independence.
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Singer-songwriter Alex Warren talks about his second music album called WILDCHILD. He also shares how he coped with losing his parents and how music helped him express his feelings.
Key Facts
Alex Warren is a singer-songwriter.
He has released his second album named WILDCHILD.
The interview was conducted by Anthony Mason.
Warren discusses the impact of losing his parents.
He explains how music served as a way to express his emotions.
The interview is available on CBS News and its app.
Viewers can watch it using web browsers like Chrome and Safari.
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The article highlights new and improved consumer products focused on health and convenience, including foods, drinks, personal care, and household items. It features notable product launches and reformulations that use simpler ingredients and cater to current wellness trends.
Key Facts
Nature’s Own bread varieties have been reformulated with up to 38% fewer ingredients and are now Non-GMO Project Verified.
Dave’s Killer Bread introduced mini bagels made with organic whole grains, each containing 100 calories.
Dr. Praeger’s Mac & Cheese Stars combine macaroni, real cheese, and vegetables as the main ingredient for a quick, family-friendly snack.
Ajinomoto released Sweet & Spicy Chili Pork & Chicken Gyoza, Japanese-style dumplings ready in under three minutes.
Welch’s launched Simply Natural Four Berry Spread, made with real fruit, natural sweeteners, and no artificial ingredients.
OIKOS expanded its protein yogurt line with ready-to-drink protein shakes in new flavors like Strawberry and Mocha Latte.
Orthomol Immun offers a ready-to-drink nutritional shot with 25 micronutrients targeting immunity, energy, and beauty.
BODYARMOR FIT sparkling drink combines electrolytes, caffeine, and metabolism support for hydration suitable any time.
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The number of young people in the UK who are not working, studying, or training fell below 1 million in recent months. While this is a positive change, youth unemployment remains high, and some employers have cut entry-level jobs for young people.
Key Facts
The number of young people aged 16 to 24 not in education, employment, or training (called Neet) dropped to 981,000 between April and June.
This number was 1,012,000 in the previous three-month period (January to March).
Compared to a year ago, the total number of Neets increased by 30,000.
More men (530,000) than women (451,000) are currently Neet.
Some employers have reduced entry-level jobs for young people in the past year.
Experts suggest that artificial intelligence and mental health issues may be contributing to youth unemployment.
The government is reviewing education and employment services for young people, with recommendations expected in autumn.
Officials called youth unemployment a national priority to address.
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Kevin Warsh, the new chair of the Federal Reserve, has changed how the central bank talks about the economy by giving fewer details on inflation and interest rates. Many economists and investors want him to clearly explain how he plans to handle inflation when he speaks at an important meeting in Jackson Hole, Wyoming.
Key Facts
Kevin Warsh is the new Federal Reserve chair as of 2026.
He speaks less about the economy and inflation compared to past Fed chairs.
Warsh avoids giving clear hints about future interest rate changes to keep flexibility.
Some experts want Warsh to explain his strategy without revealing exact future moves.
Inflation remains above the Fed’s 2% goal, affecting prices of gas, food, and housing.
Interest rates rose after Warsh’s last public comments, increasing mortgage costs.
Warsh plans to discuss big topics like AI, demographics, and global economic shocks at the Jackson Hole meeting.
Investors and economists await clearer guidance on inflation and monetary policy from Warsh’s upcoming speech.
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Canada’s Prime Minister Mark Carney is standing firm against US tariffs by responding with his own trade measures. After talks failed, the United States and Canada risk entering a full trade war, with Canada trying to reduce its reliance on the US market and build trade relationships with other countries.
Key Facts
Canada and China are the only two countries to retaliate against US tariffs so far.
Trade talks between the US and Canada have broken down.
The US and Canada may enter a full-scale trade war.
Prime Minister Carney aims to reduce Canada’s dependence on the US market.
Canada is working to strengthen trade ties with other nations.
Carney seeks to unite other middle-power countries against economic pressure from the US.
Canada faces economic costs by pushing back against US trade policies.
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Elderly Aids Ltd, a company that sells devices to block nuisance calls, was fined £190,000 for making more than 750,000 unwanted sales calls to elderly people. The company ignored legal rules about marketing calls and continued to contact people who had asked not to be called.
Key Facts
Elderly Aids Ltd made 758,053 cold calls between May 2024 and February 2025.
The company targeted elderly people trying to sell call-blocking devices.
Around 20 complaints were made about aggression, misleading information, and callers not identifying themselves.
The company charged upfront fees of £139 plus a £6.99 monthly fee for their services.
Elderly Aids Ltd ignored requests for information during the ICO investigation.
The company tried to remove itself from the Companies House register during the investigation.
The Information Commissioner’s Office (ICO) fined the company £190,000 and ordered it to stop illegal marketing calls.
It is illegal to call people registered on the Telephone Preference Service without permission.
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The trade conflict between the U.S. and Canada has led to new tariffs on Canadian goods, including building materials, which could raise costs for American homebuilders and buyers. These tariffs add to rising material prices and may slow down home construction during a time when housing is already hard to afford.
Key Facts
The U.S. and Canada have imposed new tariffs on $20 billion worth of goods due to failed trade talks.
Canada responded with tariffs up to 50% on items such as hockey sticks, clothing, wine, dairy, cement, and plywood.
Canadian lumber faces a 35-45% tariff in the U.S., increasing building costs.
Tariffs have caused building material prices to rise 40% since December 2020.
The National Association of Home Builders warns that tariffs increase housing costs and reduce new construction.
Lumber imports to the U.S. are at their lowest quantity since 2014.
Higher costs mainly affect plywood, veneer, engineered wood products, aluminum, and steel used in homebuilding.
Rising mortgage rates have a bigger impact on housing affordability, but tariffs exacerbate the cost challenges.
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South Korea’s central bank raised its interest rate to 3.00 percent due to strong growth in the semiconductor sector driven by AI demand. This situation shows how new technology can first increase costs by requiring heavy investment before improving productivity, a pattern that may influence U.S. Federal Reserve policy decisions.
Key Facts
The Bank of Korea increased its policy rate from 2.75% to 3.00%, the second consecutive hike.
South Korea’s semiconductor exports and investments are growing, partly because of AI-related demand.
Core inflation in South Korea rose to 2.6% in July, with higher forecasts for 2026 and 2027.
The rise in semiconductor prices boosted South Korea’s income and helped recovery in spending.
The AI-driven growth shows that investment and productivity gains do not happen at the same time.
The Bank of Korea also cited cost pressures, currency risks, wage rises, housing prices, and household loan growth as reasons for the rate increase.
The U.S. Federal Reserve is watching similar trends as AI drives demand for data centers, software, and equipment.
Federal Reserve Chair Kevin Warsh will discuss these issues in his upcoming speech while U.S. inflation remains above target.
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Tarr's Ice Cream, a family-run shop in Bristol that has been open for 106 years, is closing due to rising costs and financial difficulties. The family said factors like Brexit, the pandemic, and higher energy bills made it too hard to keep the business running.
Key Facts
Tarr's Ice Cream started in the 1920s in Brislington, Bristol.
It was named Bristol’s Family Business of the Year in 2018.
The shop survived Covid-19 lockdowns but could not handle ongoing rising costs.
The family cited Brexit, the pandemic, global conflicts, and higher prices as challenges.
Energy bills climbed from £14,000 in 2012 to £78,000 in 2023.
Fourth-generation family member Bradley Tarr said closing is sad but necessary.
The shop will close after selling remaining stock, sometime after November.
The family thanked customers for their support and expressed mixed feelings of pride and sadness.
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Starting next month, nearly 40,000 financial firms in London must report serious bullying and harassment cases to the Financial Conduct Authority (FCA). The rules aim to stop bad workers from moving between firms without facing consequences, and firms are preparing by updating policies and finishing investigations.
Key Facts
The FCA will extend rules to cover hedge funds, insurers, pension funds, investment managers, and brokers.
Companies must report serious misconduct like racism, sexual harassment, violence, and intimidation to the regulator.
Employers must share reports of bad behavior with a manager’s next potential employer.
This aims to prevent “rolling bad apples,” or problem employees moving without penalty.
Firms are updating policies, training staff, and completing internal investigations before the rules start in September.
The rules apply to any company under the FCA’s senior managers and certification regime, which holds leaders accountable.
Recent misconduct cases at Lloyd’s of London and Barclays have pushed the FCA to act more strongly.
The FCA is involved in a court case to uphold a ban on hedge fund boss Crispin Odey, accused of serious harassment, which he denies.
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Asian stock markets showed mixed results after modest losses on Wall Street, with Japan’s Nikkei slipping slightly and South Korea’s Kospi rising notably. Nvidia’s strong quarterly earnings, driven by high demand for its AI chips, helped U.S. futures rise, while oil prices dropped.
Key Facts
Japan’s Nikkei 225 fell 0.2% to 66,162.72.
South Korea’s Kospi gained 1.5% to 6,909.81, with Samsung Electronics shares up 2%.
Taiwan’s Taiex index rose 0.5%, while Hong Kong’s Hang Seng dropped 0.4%.
China’s industrial profit growth slowed to 11.2% in July, down from 15.1% in June.
U.S. stock indexes declined slightly on Wednesday; the S&P 500 lost less than 0.1%, Dow dropped 0.2%, Nasdaq fell 0.1%.
Nvidia reported quarterly revenue more than doubled year-over-year due to strong AI chip demand.
Brent crude oil price dropped 0.5% to $86.49 per barrel; U.S. crude also fell 0.5% to $81.84 per barrel.
The U.S. economy grew at an annual rate of 1.5% in Q2, with inflation at 3.7%, above the Federal Reserve’s 2% target.
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