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Business News
Business news, market updates, and economic developments
A group of investors including Jeff Bezos is close to buying a 30% share of Liverpool Football Club for about £1.35 billion. The deal involves several wealthy participants and is expected to be finalized within a month.
Key Facts
The investors are led by Amit Bhatia, related to billionaire Lakshmi Mittal.
Eduardo Saverin, co-founder of Facebook, is part of the group.
Jeff Bezos will get ownership shares but will not manage the club day-to-day.
This is Bezos' first investment in a football team.
Fenway Sports Group (FSG) has owned Liverpool since 2010 and sold 3% to another firm in 2023.
FSG has overseen Liverpool winning two Premier League titles.
Recent changes at Liverpool include a new head coach and key player transfers.
Amazon, founded by Bezos, has been involved in sports broadcasting but no longer holds UK Premier League rights.
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Peter Ruis, the managing director of British retailer John Lewis, has resigned after less than three years in the role. He will be replaced by Will Kernan as the company faces difficult trading conditions caused by rising inflation and global conflicts affecting costs and shoppers.
Key Facts
Peter Ruis is leaving John Lewis to pursue new projects and will stay until 6 September.
Will Kernan, a board member since 2023, will take over as managing director in mid-September.
John Lewis is dealing with “really tough” trading conditions due to inflation and higher oil prices linked to the US-Israeli and Iran conflict.
The company previously paid its 69,000 employees an annual bonus for the first time in four years after profits rose.
Ruis had been investing in modernizing John Lewis stores after closing 16 locations during the pandemic.
Kernan has experience as CEO of retailers River Island, The White Company, and Wiggle and appreciates John Lewis’s employee-ownership model.
John Lewis aims to grow both in physical stores and online despite current economic challenges.
Separately, the Co-op Group’s chair Debbie White stepped down after two years, with Moni Mannings appointed interim chair.
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The article discusses how wind, solar, and battery industries rely heavily on government subsidies to stay financially stable. These industries spend a lot of money on political campaigns that may give misleading information to maintain their support.
Key Facts
Wind, solar, and backup battery industries depend on large government subsidies.
Without these subsidies, these industries would struggle or fail.
These industries invest significant money in political campaigns.
The campaigns may contain misleading information.
The goal of these campaigns is to keep receiving subsidies.
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Taylor Fresh Foods is recalling some of its jalapeño products because of a possible salmonella contamination linked to a supplier in Mexico. The recall affects products sold in several major stores, and health officials are investigating related illnesses across multiple states.
Key Facts
Taylor Fresh Foods is voluntarily recalling certain jalapeño products due to salmonella concerns.
The recall follows a similar recent recall of iceberg lettuce linked to another outbreak.
The recalled jalapeños were supplied by Coast Citrus Distributors, linked to a grower in Sinaloa, Mexico.
Taylor Fresh Foods is no longer buying from that grower and will use other suppliers.
No illnesses have been reported so far from Taylor Fresh Foods’ recalled jalapeño products.
The recalled items have a “Best If Used By” date up to August 16, 2026.
Affected stores include Kroger, Stop & Shop, Target, Whole Foods, Trader Joe’s, and Walmart.
Consumers should throw away recalled products and can get refunds at the stores.
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Pamela Anderson shares a simple recipe for Watermelon Granita, a refreshing frozen dessert, from her cookbook titled “I Love You.” The recipe is easy to make and perfect for summer gatherings like barbecues or picnics.
Key Facts
The recipe is for Watermelon Granita, a cool and light frozen dessert.
Ingredients include diced watermelon, lemon juice, and sugar.
The watermelon mixture is blended, strained, frozen, and scraped to create fluffy ice crystals.
The recipe serves 4 to 6 people.
Pamela Anderson’s cookbook “I Love You” started as recipe cards for her sons.
Anderson is an actress, activist, and cook who values sharing food and moments with family and friends.
The cookbook is published by Voracious, part of Little, Brown and Company.
The recipe is presented as a no-fuss, visually appealing dessert for hot weather.
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Taylor Farms is recalling certain salsa and guacamole products because they might have salmonella bacteria. The FDA, CDC, and local health departments are investigating a salmonella outbreak linked to fresh jalapeños from a supplier.
Key Facts
Taylor Farms announced a recall of some salsa and guacamole products.
The recall is due to a possible risk of salmonella contamination.
The FDA, CDC, and local officials are investigating the outbreak.
The salmonella outbreak is linked to fresh jalapeños supplied by Coast.
The announcement was posted on the FDA website on a Sunday.
Salmonella is a bacteria that can cause food poisoning.
The recall aims to prevent illness among consumers.
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Taylor Farms is recalling several prepared foods containing jalapenos because of a salmonella risk. The recalled items were sold at major stores like Walmart and Target in 26 states, but no illnesses have been reported yet.
Key Facts
Taylor Farms recalled jalapeno products such as pico de gallo salsa and guacamole.
The recall followed a warning from Coast Citrus Distributors, which supplied jalapenos linked to salmonella.
The jalapenos came from a farm in Sinaloa, Mexico, identified as the potential source.
Taylor Farms stopped buying from this farm and switched to other suppliers.
Salmonella can cause symptoms like diarrhea, fever, and stomach pain within 8 to 72 hours.
The recalled products have "best if used by" dates through August 16.
Affected retailers include Walmart, Target, Kroger, Hannaford, Trader Joe’s, and Whole Foods.
The recall covers various states across the US, including Texas, Illinois, Florida, and others.
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Many well-known consumer brands are owned by large corporations and private equity firms that often reduce product quality to increase profits. This has led to more problems and complaints from customers about goods like backpacks, cookware, and clothing. Experts say the pressure to satisfy shareholders can cause companies to focus less on quality and more on making money quickly.
Key Facts
Popular brands like North Face and JanSport are owned by the VF Corporation after many acquisitions.
A study found that about 75% of Americans had quality or service problems with products in 2025, double the rate since 1976.
Customer complaints are at record levels according to the University of Michigan’s Customer Satisfaction Index.
Founder-owned brands often get sold to big companies or private equity that lack emotional ties to the brand.
Large investors and shareholder activism put heavy pressure on company leaders to increase profits quickly.
Corporate profits in the first quarter of 2025 reached a record $3.9 trillion annually.
Some founders, like Ben & Jerry’s co-founder, say cutting quality gradually happens to boost profits but harms the product in the long run.
The shift toward prioritizing shareholder returns can reduce product quality and damage customer trust.
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Great Britain’s largest home energy provider, Octopus Energy, is asking customers to use less electricity during a solar eclipse expected this Wednesday evening. The eclipse will reduce solar power output just as a heatwave increases electricity use, so the company wants people to delay running appliances to help avoid extra gas power use.
Key Facts
The solar eclipse may block up to 95% of the sun over parts of Great Britain between 6pm and 8pm.
This will stop most of the country’s solar power generation for a short time.
At the same time, the heatwave will raise electricity demand for cooling devices like air conditioners and fans.
Octopus Energy offers two free hours of electricity next weekend to customers who avoid using unnecessary power during the eclipse.
If households reduce electricity use, the need for gas power stations could be lessened.
Solar power loss due to the eclipse in Europe is expected to reach 9.7 gigawatts, with 700 megawatts to 1.3 gigawatts lost in the UK alone.
Heatwave effects have already forced some nuclear and coal power plants in Europe to reduce or stop output due to low cooling water levels.
The National Energy System Operator recently faced criticism for managing the electricity grid during these challenges.
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Oil prices rose by about 1% following concerns about ongoing tensions in the Middle East, especially regarding Iran's conditions for reopening the Strait of Hormuz. At the same time, wheat prices increased due to worries about risks to grain exports from the Black Sea amid conflicts and restrictions on ship traffic.
Key Facts
Oil prices went up by 1% as worries about the Iran conflict continued.
Iran has set several conditions before reopening the Strait of Hormuz, a key shipping route.
Wheat prices increased because traders fear disruptions to grain exports from the Black Sea.
Turkey temporarily restricted commercial ship traffic entering the Black Sea but later allowed normal passage through the Turkish straits.
Turkey has asked Russia and Ukraine to pause attacks in the Black Sea to protect grain exports.
US stock markets showed mixed performance, while gold prices rose due to lower interest rate hike expectations and Middle East tensions.
Heatwaves in Europe caused thousands of deaths and warnings from insurance companies about underestimated risks.
The disruptions in trading markets reflect concerns over global conflicts and climate-related risks.
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A 35-year-old Mars Bar was found during a house clearance in Scunthorpe. The old chocolate bar weighs 62.5 grams, which is 20 grams heavier than a current Mars Bar that weighs 40 grams, showing how the size of the bar has shrunk over time.
Key Facts
The Mars Bar found was made in 1991 and has a best-before date from that year.
It was discovered by Victoria Gordon while clearing out a hoarder’s house.
The 1991 Mars Bar weighs 62.5 grams.
A Mars Bar sold today weighs 40 grams.
This difference points to "shrinkflation," where products become smaller but often keep the same price.
Victoria Gordon shared photos on social media, and the discovery has gone viral.
She runs a cleaning service called Pocket Rockets.
Gordon is considering showing the old Mars Bar in a UK tour or keeping it as a collectible.
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Starting a physical product business is easier now due to online platforms and digital marketplaces. However, as businesses grow and sell more products, managing production, quality, and delivery becomes a bigger challenge that requires new skills beyond just making a good product.
Key Facts
Over 21 million new business applications were filed in the U.S. from 2021 to 2024, showing strong growth in entrepreneurship.
Online commerce platforms like Shopify have greatly increased the number of first-time sellers, lowering entry barriers.
Many entrepreneurs start by designing products but later need to learn about production, logistics, and operations to succeed.
Manufacturing is becoming a key part of business strategy, not just a step in making products.
Entrepreneurs often make the mistake of buying cheap production equipment, which can lead to problems and extra costs later.
Reliable, consistent manufacturing is an investment that helps keep production running smoothly.
Successful companies combine good production with strong marketing and sales to grow their business.
Operational excellence in manufacturing helps businesses meet demand, but creating demand first is crucial.
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Fed Chair Kevin Warsh has created a new task force to improve how the Federal Reserve uses real-time economic data to guide its decisions. This group includes former Walmart CEO Doug McMillon and aims to use better data and AI technology to help the Fed make smarter policy choices.
Key Facts
Kevin Warsh is the current Chair of the Federal Reserve.
He appointed a task force to improve the quality and timing of economic data for the Fed.
The task force members include Harvard professor Raj Chetty, former Walmart CEO Doug McMillon, and economics professor Kevin Murphy.
They want to use real-time sales data and banking trends instead of older government surveys.
Artificial Intelligence (AI) is expected to help analyze this data more effectively.
Better data could help the Fed make clearer decisions about interest rates and economic policy.
Warsh’s approach signals a new way of using modern technology and data in economic planning.
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Small independent restaurants are starting to use artificial intelligence (AI) to improve their operations and connect better with customers. This technology helps with tasks like marketing, ordering, and managing schedules, which can help restaurants grow despite tight profit margins.
Key Facts
Nearly 60% of small businesses used generative AI in 2025, up from 40% in 2024, according to the U.S. Chamber of Commerce.
Nearly half of adults pick up takeout weekly, and 37% order delivery every week, showing the importance of off-premises dining.
Many restaurant owners feel they are behind in adopting technology, especially in marketing, ordering, payments, and back-office work.
Paul Birrell, founder of Decade Strategy, uses his experience to help restaurants create AI-supported tools for marketing, ordering, and customer communication.
AI allows small restaurants to adapt quickly and build systems that were once only affordable for large companies.
Decade Strategy works with restaurants to automate tasks, improve customer connections, and encourage repeat business.
Using AI can help restaurants regain personal connections with customers that were more common before digital ordering became widespread.
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Communities across the United States are concerned about the impact of new data centers on their water, land, and jobs. There is a growing idea that people with different political views could work together to set clear standards for data center projects to ensure they benefit local communities and the environment.
Key Facts
In July, 142 protests against data centers took place in 42 states, organized by a conservative former Tea Party activist.
Some political leaders, including Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders, have voiced concerns about data centers affecting water quality and are calling for limits on their construction.
Both conservatives and progressives share concerns about environmental protection and local community impacts related to data centers.
Companies have made some efforts toward using clean energy, saving water, and creating jobs, but communities find it hard to know which promises are genuine.
Ideas include using technologies like geothermal power, rainwater harvesting, and waste heat reuse to reduce environmental harm.
There is a proposal to create a certification system, like Energy Star for appliances, to rate data centers on social and environmental responsibility.
Such a certification would help communities judge data center projects fairly and encourage developers to meet high standards.
The certification system would aim to be simple and avoid creating heavy bureaucracy.
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Harvey Nichols, a luxury department store chain, said it cannot continue operating without new investment and is up for sale by its Hong Kong owner, Dickson Poon. Mike Ashley’s Frasers Group is a leading buyer, but the company reported large financial losses and warned it will run out of money within a year.
Key Facts
Harvey Nichols was put up for sale in June by owner Dickson Poon.
The store has not been profitable since the COVID-19 pandemic reduced tourist spending.
It reported a £105 million loss for the year ending March 2025.
The company warned it will run out of money within a year without new funding.
Several bids have been made to buy the company; Frasers Group, led by Mike Ashley, is a top contender.
Next, a FTSE 100 retailer, showed interest but later withdrew.
Mike Ashley plans to keep main stores and rebrand others under Frasers Group’s other brands.
Harvey Nichols was founded in 1831 and has locations across the UK and internationally.
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Federal Reserve Chairman Kevin Warsh is working to rethink how the central bank manages the economy by using artificial intelligence (AI) to improve decision-making. While developing this new approach, he is still relying on traditional methods like raising interest rates to control inflation.
Key Facts
Kevin Warsh became Federal Reserve Chairman about 10 weeks ago.
Warsh wants to use AI to better understand the economy in real time and improve future policy decisions.
Current Fed policy focuses on raising interest rates to reduce inflation, which has been high for over five years.
A recent market reaction showed uncertainty after Warsh’s press conference, where he was vague about interest rate hikes.
Warsh encourages Fed staff to use generative AI to explore new ways to analyze economic data.
Some traders were surprised by Warsh’s reluctance to confirm immediate rate hikes, causing market swings.
Experts say it is too early to judge Warsh’s AI-driven strategy and advise giving it more time.
Warsh created AI bots based on famous economists to help with economic questions before taking office.
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Thames Water paid its new finance chief a £1 million signing bonus recently, even though the company is dealing with a huge amount of debt and possible government takeover. The payment came from emergency loan funds, and the company is working with lenders and the government to avoid temporary nationalisation.
Key Facts
Thames Water gave its finance chief, Steve Buck, a £1 million signing-on fee in July 2025.
Steve Buck joined Thames Water in April 2025, but the payment was delayed until after legal advice.
The money likely came from emergency funding provided by the company's lenders.
Thames Water owes about £20 billion in debt.
If no agreement is reached with creditors, Thames Water could enter a "special administration regime," a temporary government control to keep it running.
The company has faced criticism for environmental issues, including sewage leaks.
Thames Water was fined £122.7 million last year for poor customer service and environmental failures.
The company’s chief executive wants to improve but says some environmental targets are unrealistic.
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A woman staying at a Travelodge hotel in London was assaulted after hotel staff gave her abuser a key to her room. Travelodge said it regrets the incident, called such cases rare, and has updated its security policies and staff training to prevent this from happening again.
Key Facts
A woman escaped her abuser by staying in a Travelodge hotel in London.
The abuser entered the hotel, lied about her condition, and asked reception for her room details.
Staff gave the man a key and directed him to her room without confirming with the woman.
The man kicked in the door, assaulted the woman, and tried to take her phone.
Travelodge apologized and said their safety rules were not properly followed.
The company hired an expert to review its security and changed policies and staff training.
MPs have asked Travelodge to improve safety measures for vulnerable women.
A similar 2022 case involved a man getting a key without consent and sexually assaulting a guest; the victim received a small refund.
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Thames Water paid its chief financial officer, Steve Buck, a £1 million signing fee recently, despite facing financial problems and restrictions on bonuses due to environmental failures. The company is negotiating with creditors to avoid government takeover as it struggles with debt and infrastructure issues.
Key Facts
Thames Water paid CFO Steve Buck a £1 million signing fee last month.
The payment came from a £3 billion emergency debt fund agreed with creditors.
Thames Water serves 16 million customers in London and the Thames Valley.
The company has been restricted from paying performance bonuses due to environmental problems.
Thames Water has been nearly collapsing for over two years.
Creditors are negotiating to take ownership, offering the government a “golden share” to avoid debt write-offs.
Steve Buck’s base salary increased to £630,000 in April, with total pay previously around £591,000.
Thames Water also paid £4.1 million in bonuses to senior managers despite the bonus ban.
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