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Business news, market updates, and economic developments
The movie "Spider-Man: Brand New Day" remains the top film at the North American box office with $70 million in its third weekend, reaching over $2 billion worldwide. Two dinosaur-themed movies, "The End of Oak Street" and "Paw Patrol: The Dino Movie," competed closely for third place, earning about $21 million and $20.5 million respectively in their opening weekends.
Key Facts
"Spider-Man: Brand New Day" made $70 million in its third weekend in the U.S. and Canada.
The film’s total domestic earnings are $785.8 million, making it the fourth-biggest release in the U.S. history.
Globally, "Spider-Man: Brand New Day" has earned over $2 billion, one of only eight movies to surpass this mark.
Christopher Nolan’s "The Odyssey" held second place with $23.2 million in its fifth weekend and has made over $1.2 billion worldwide.
"The End of Oak Street," a PG-13 action movie starring Anne Hathaway and Ewan McGregor, earned about $21 million in its opening weekend.
"Paw Patrol: The Dino Movie," aimed at young children and rated PG, earned $20.5 million debuting in over 3,500 theaters.
"The End of Oak Street" had a production budget of around $80 million and received positive critic reviews (86% on Rotten Tomatoes).
Audiences gave "The End of Oak Street" a B CinemaScore, while "Paw Patrol: The Dino Movie" earned an A rating from viewers.
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Some employers are planning pay raises for 2027 that could be bigger than usual. This comes as discussions begin about how to handle future salary increases.
Key Facts
Employers are starting to think about pay raises for the year 2027.
The raises planned might be larger than what workers have received before.
This is an early sign of changes in how companies set salaries.
The article explains the idea of a "peanut butter pay raise," a type of small increase given to many or all employees.
There is concern that some workers might not get any raise next year.
Companies may be adjusting their pay strategies due to economic or business reasons.
The discussion about raises is connected to how businesses manage costs and employee satisfaction.
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Water companies in England and Wales may be allowed to increase water bills during droughts to encourage people to use less water. Regulators are considering rules similar to "surge pricing," where prices rise when demand is higher, to reflect water scarcity and help fund repairs and improvements.
Key Facts
Water firms could raise prices during drought periods under new rules from the regulator Ofwat.
This pricing approach is compared to surge pricing seen in taxi services, charging more when demand goes up.
Five water companies were recently allowed to increase bills more than planned to pay for extra infrastructure spending.
Public anger has grown as water bills rise even though pollution and leaks remain a problem.
Ofwat says more efficient water use and fairer charges would benefit everyone.
Some companies are testing new charging plans, like charging less for low water use and more for higher use.
Seasonal pricing trials are happening for charging more in summer than winter to reflect water availability.
The government says it has no plans for nationwide surge pricing but supports trials that make bills fairer and encourage saving water.
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Oma’s Pride, a pet food company from Connecticut, recalled 639 bags of frozen dog food in 11 states due to salmonella contamination. The Food and Drug Administration (FDA) confirmed a sample tested positive after a consumer complaint, and the recall includes only one specific product batch.
Key Facts
The recalled product is Oma’s Pride Woof Complete Canine Chicken Recipe, 6 lb bags with individually wrapped portions.
The recall covers products sold between February 12 and May 15, 2026, with a lot number BB012729.
States affected include Arizona, California, Indiana, Kentucky, Louisiana, Maryland, New Jersey, Nevada, New York, Pennsylvania, and Virginia.
Salmonella can cause diarrhea, vomiting, fever, and more serious health issues in dogs and can also infect humans, especially vulnerable groups.
Consumers who bought the recalled dog food should stop using it, dispose of it safely, and clean anything that touched the food.
The FDA reported three illnesses linked to the dog food recall but did not specify if these were in dogs or humans.
There is a separate, ongoing salmonella outbreak involving eggs that has caused 98 illnesses and 26 hospitalizations across 17 states.
Midwest Poultry Services recalled over 1.5 million eggs from Texas farms due to the egg-related salmonella risk.
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Policymakers are urged to create financial safety plans to protect workers and reduce income gaps as artificial intelligence changes the job market. Suggested measures include updating support programs for workers and increasing opportunities for people to own capital.
Key Facts
Artificial intelligence could cause many workers to lose their jobs.
Income inequality might grow because of AI-driven changes.
Fiscal insurance means government financial protections or programs.
Adjustment assistance helps workers adapt to job changes.
Expanding capital ownership means giving more people a chance to own business assets.
Policymakers need to prepare plans now to handle these challenges.
These actions aim to protect workers and maintain economic balance.
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Many states require companies to report large job cuts in advance. This helps workers and communities prepare for layoffs. You can check public lists to see if your company plans to reduce its workforce.
Key Facts
Companies must give advance notice if they plan large layoffs.
Most U.S. states have laws requiring this notification.
The rules help employees find new jobs or benefits before layoffs happen.
States maintain public lists or databases showing companies planning big job cuts.
Workers can use these resources to stay informed about potential job losses.
Employers must follow specific state laws about how and when to notify workers.
This system aims to reduce surprise job losses and help local economies adjust.
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The UK government is changing planning rules to make it harder to turn pubs into homes or offices. Developers will need to prove that a pub cannot continue running as a business before converting it. The new rules aim to protect pubs that are important to their communities.
Key Facts
The updated National Planning Policy Framework (NPPF) starts on Monday in England.
Pubs will have more protection from being changed into homes or offices.
Developers must show that a pub was offered for sale for at least 12 months and cannot survive as a business.
Local councils will assess how closing a pub affects the community.
The rules aim to stop owners from shutting pubs just to sell or convert them.
Hospitality groups blame taxes and business costs for pub closures, not planning rules.
The government announced a 20% cut in business rates for pubs and live music venues in England.
The NPPF update also encourages building homes near railway stations to increase housebuilding.
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Sally McManus is stepping down as the secretary of the Australian Council of Trade Unions (ACTU) after nearly a decade in the role. During her time, she worked to improve workers’ rights, including fair pay and protections for gig workers, while facing intense public criticism and online abuse.
Key Facts
Sally McManus served as ACTU secretary for nine and a half years and has been a union official for 33 years.
She and ACTU president Michele O’Neil, who is also stepping down, were the first all-female leadership team in the ACTU’s 99-year history.
McManus helped push for worker-friendly laws such as “same job, same pay,” the right to disconnect, and tougher rules against wage theft.
Her time as leader included dealing with different Australian governments and challenges like the COVID-19 pandemic and union corruption allegations.
McManus faced strong opposition, including online hate and death threats, which she partly blamed on social media.
She supports ideas like a four-day work week and tax reforms for fairness between generations.
McManus warned about the political rise of Pauline Hanson and the risk to worker protections if Hanson’s party gained power.
She sees artificial intelligence as a future challenge for workers’ rights but also an opportunity to reduce working hours without cutting pay.
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Australia’s corporate watchdog, ASIC, warns that scammers are using deepfake videos of Prime Minister Anthony Albanese and other celebrities to trick people into fake investment schemes. Australians have lost $7.4 million to these scams, which often use convincing fake websites, videos, and fake promises of high returns.
Key Facts
Scammers use deepfake technology to create fake videos of Prime Minister Anthony Albanese promoting false investment opportunities.
ASIC handled over 19,400 scam reports last financial year, nearly three times more than the previous year.
Australians lost $7.4 million to scams involving the top 10 impersonated public figures, with Albanese the most impersonated.
Scammers create networks of fake brands, websites, reviews, and news to appear trustworthy and steal money.
ASIC removed thousands of phishing links, fake investment sites, and cryptocurrency scams, all increasing significantly.
Deepfake videos often promise unrealistic returns, like earning $40,000 a month from a $4,000 investment.
Scamwatch advises people to verify companies’ legitimacy and report scams to banks or cyber security agencies.
Research shows most Australians are overconfident about spotting AI scams, catching less than half of them in reality.
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Central banks like the US Federal Reserve, Bank of England, and European Central Bank face a challenge as inflation remains above their 2% goal while economic growth slows. They are reconsidering how to manage interest rates amid worries that rising oil prices, due to conflicts in the Middle East, could push inflation higher again.
Key Facts
Inflation has generally been falling but is still above the 2% target in many industrialized countries.
War in the Middle East threatens to raise oil prices, which could increase inflation again.
Central banks were criticized in 2022 for not acting quickly enough when inflation surged.
US inflation decreased slightly to 3.4% in July but energy prices are rising again.
The Federal Reserve’s new leader, Kevin Warsh, is reviewing how the Fed operates.
Warsh and experts suggest dropping “forward guidance,” the practice of predicting future interest rates.
Economist Lord Mervyn King says central banks should focus less on rigid economic models and more on real-world uncertainty.
Experts want the Fed to explain how it will react to different economic events instead of making firm rate forecasts.
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James Green, director of the Whitstable Oyster Fishery Company (WOFC), wants to expand seating at the Forge oyster shack on a Whitstable beach area. His plan has met strong opposition from local residents and groups worried about public access and environmental impacts, leading to a wider debate about balancing business growth and community interests.
Key Facts
The WOFC harvests about 2 million oysters each year from Whitstable’s seabeds.
James Green inherited the company from his father and is continuing efforts to grow the family business.
The proposed expansion would add seating on a beach area currently used by the Whitstable Yacht Club.
Over 200 objections have been filed against the plan, including from the Environment Agency.
Opponents worry the expansion would harm flood defences and restrict public access to the beach.
Whitstable once had a large oyster industry that declined due to overfishing, pollution, and disease.
The WOFC restarted industrial-scale oyster farming in 2008 using Pacific rock oysters.
Local groups want to preserve the natural state of the beach and prevent commercial intrusion.
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Andy Burnham is being urged to protect 4 million gig economy workers by prosecuting companies that use false self-employment status to avoid giving worker rights. A report from the Fabian Society and Joseph Rowntree Foundation calls for stronger laws and enforcement to ensure gig workers receive protections like parental leave and redundancy pay.
Key Facts
About 4 million gig economy workers, such as drivers and personal trainers, often have limited rights due to being classed as self-employed.
The Fabian Society and Joseph Rowntree Foundation warn many workers miss out on key legal protections like parental leave and protection against unfair dismissal.
The report urges the Fair Work Agency to use its powers to prosecute companies that misclassify employees as self-employed.
Britain’s employment law has three worker statuses: employee (most rights), self-employed (few rights), and an intermediate "worker" status with some rights.
Labour once promised a single worker status but delayed the plan due to political pressure before the 2024 election.
Proposed employment rights changes aim to ban exploitative zero-hour contracts and give sick pay from day one but face business opposition.
The report recommends shifting the burden of proof so employers must prove a worker is self-employed, reducing legal fights for workers.
Burnham has expressed determination to improve employment rights and protect insecure workers.
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A couple in London bought an old house from the 1950s and discovered original parquet wood flooring hidden under old carpet throughout their downstairs. They plan to restore the historic floor, which is expected to require significant work and expense.
Key Facts
The house was bought late last year and described as a fixer-upper.
Original parquet flooring was found under carpet in the living room and other downstairs areas.
Parquet flooring features small wooden blocks arranged in geometric patterns and became popular in 16th-century France.
The couple is sharing their renovation process on Instagram under @hillendhousereno.
A professional floor restorer will assess the condition and restoration needs of the floor.
Restoring vintage parquet can be costly and usually requires allocating 10-15% of the renovation budget for unexpected expenses.
The couple wants to preserve and restore the original flooring rather than replace it.
The discovery was made by peeling back decades-old carpeting covering the entire lower floor.
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The historic Cinerama Dome movie theater in Hollywood, Los Angeles, will reopen in 2028 after being closed since 2020. Sony Pictures announced a new deal to operate the venue through its Alamo Drafthouse chain, preserving its unique design and history.
Key Facts
The Cinerama Dome was built in 1963 and is known for its white, geodesic, golf ball-like structure.
It was designated a historic cultural monument in 1998.
The theater closed in 2020 and remained shut due to the COVID-19 pandemic.
Sony Pictures made an agreement with the theater owners for reopening in 2028.
Alamo Drafthouse, a dine-in theater chain owned by Sony, will run the Dome but without requiring food orders at this location.
The Dome originally showcased films using Cinerama technology with three projectors and a curved screen.
Film fans and local activists campaigned strongly for its reopening through petitions and rallies.
The Dome seats 956 people and will keep showing films on its large curved screen.
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Disney announced the 2026 Disney Legends Awards ceremony will honor 11 individuals, including Anne Hathaway, Bob Iger, and Dwayne Johnson. The event will take place during D23, Disney’s fan convention, and celebrates people who have made a big impact on the company.
Key Facts
The 2026 Disney Legends Awards will induct 11 honorees.
Honorees include actress Anne Hathaway, Disney CEO Bob Iger, actor Dwayne Johnson, the Jonas Brothers, and Lin-Manuel Miranda.
The ceremony will happen at the Honda Center in Anaheim, California.
Ryan Seacrest will host the awards event.
The awards recognize individuals who significantly shaped Disney’s history and success.
The Disney Legends Awards began in 1987, with Fred MacMurray as the first recipient.
Including 2026, a total of 329 people have become Disney Legends.
The awards are part of D23, a Disney fan event held every two years where the company shares new projects and honors past achievements.
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Parents are adding extra water to baby formula milk to stretch supplies because of the high costs. Experts warn this practice is unsafe and can harm babies' health, while a charity calls for price controls on formula as it is a basic need.
Key Facts
Some parents are watering down baby formula to make it last longer due to rising costs.
This practice changes the nutritional balance, which can cause health problems for babies.
Nearly half of parents say they have more financial struggles after having a baby.
Baby formula prices have increased by over 25% in recent years, according to a government report.
Moorside Baby Bank in Consett has helped over 200 families with baby supplies but struggles to get donated formula because it is expensive.
Some parents are making homemade baby wipes and breastfeeding despite difficulties to save money.
Charities advise parents to follow formula preparation instructions and seek support if struggling.
Support services include midwives, health visitors, GPs, and local family hubs.
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British energy bills have risen sharply due to global instability, pushing UK inflation close to 3% in July, according to forecasts. This increase is causing financial strain for households and may lead the Bank of England to raise interest rates soon.
Key Facts
Inflation in the UK is expected to rise to about 2.9% in July, up from 2.6% in June.
The rise is mainly due to a 13% increase in the energy price cap set by Ofgem, the UK energy regulator.
Petrol and diesel prices have fallen slightly, which helps offset some inflation.
The Iran war is causing instability in global energy markets, affecting UK prices.
The Bank of England may raise interest rates starting September to control inflation.
UK inflation had been expected to fall close to 2% before the Iran conflict.
Prime Minister Andy Burnham announced measures like cutting VAT on electricity to reduce energy bills.
The Bank forecasts inflation could reach 3.2% by year-end and potentially 4.5% by mid-2027 if global tensions worsen.
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Miami voters will decide if the city can work with a private company to restore the Miami Marine Stadium, a historic and architecturally unique venue on Virginia Key. The stadium, once a popular site for powerboat races and concerts featuring famous performers like Jimmy Buffett, has been closed and damaged since 1992.
Key Facts
The Miami Marine Stadium opened in 1963 as the only U.S. venue for powerboat racing.
The stadium features a large concrete cantilevered roof and has a view of downtown Miami.
It was designed by Hilario Candela, a Cuban refugee, in his late 20s.
The stadium was damaged during Hurricane Andrew in 1992 and closed afterward.
It is listed on the U.S. National Register of Historic Places since 2018.
Famous events include performances by Jimmy Buffett and Gloria Estefan, and a 1972 campaign rally with President Richard Nixon and Sammy Davis Jr.
The venue has been fenced off and covered with graffiti in recent years.
Restoration would involve a public-private partnership if voters approve the plan.
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Berkshire Hathaway increased its investment in Alphabet, Google's parent company, during the second quarter of 2026. The company also expanded its holdings in homebuilders and some other sectors while reducing shares in several financial companies and other stocks.
Key Facts
Berkshire Hathaway bought about 48.1 million more shares of Alphabet, totaling roughly 106 million shares valued at $37.76 billion by June 30.
At the end of 2025, Berkshire held 17.8 million Alphabet shares worth $5.6 billion.
Berkshire increased its stake in homebuilder Lennar by nearly 30% and started a small position in D.R. Horton valued at about $580,000.
In July, Berkshire completed a $6.8 billion purchase of homebuilder Taylor Morrison.
Berkshire greatly increased shares in Delta Air Lines and Macy’s, worth $5.37 billion and $173 million respectively by June 30.
The company reduced holdings in Kroger, Nucor, DaVita, and sold all shares of Constellation Brands.
Berkshire cut its stakes in Bank of America, Ally Financial, and Capital One Financial by 6%, 6.9%, and 58%, respectively.
Greg Abel became CEO in early 2026, and Berkshire Hathaway does not publicly comment on its stock buying and selling each quarter.
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A national bank regulator appointed by President Donald Trump has given conditional approval for World Liberty Trust, a crypto company linked to the Trump family, to become a bank. This approval allows the company to issue a stablecoin tied to the U.S. dollar, potentially increasing its profits and client base. Democratic lawmakers have raised concerns about possible conflicts of interest.
Key Facts
World Liberty Trust is 38% owned by an entity affiliated with President Trump and his family.
The company received conditional approval to operate as a bank and issue a U.S. dollar-backed stablecoin.
This is the first time a sitting president's family has been granted bank status in the U.S.
Previously, World Liberty Financial used a third-party crypto firm, BitGo, to handle stablecoins but will now do this directly.
Stablecoins are digital currencies tied to stable assets like the U.S. dollar, making them less risky than cryptocurrencies such as Bitcoin.
President Trump has earned over $1.4 billion from his family's crypto ventures, according to his financial disclosures.
The Trump family’s company raised about $5 billion shortly after going public, with investments from individuals and foreign governments.
Some lawmakers worry about conflicts of interest because President Trump’s assets are managed by his children, not an independent trustee.
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