Research shows that Brexit has reduced UK exports to the EU by about 12%. Rejoining the customs union would only fix a small part of this problem, while the biggest losses come from leaving the single market.
Key Facts
UK exports to the EU are 12% lower due to Brexit.
Services exports to the EU are 7% lower, and goods exports are 16% lower than if the UK stayed in the EU.
Most of the export loss (10% out of 12%) is caused by leaving the single market.
Regulatory checks and new certification requirements have a bigger impact than customs barriers.
Sectors most affected include travel, finance and insurance, chemicals, pharmaceuticals, and food.
Rejoining the customs union would reduce some trade rules but would not help services exports much.
Being in the customs union means the UK would have to follow EU tariffs and lose freedom to make separate trade deals.
Fully rejoining the single market would mean accepting free movement of people, budget contributions, and following EU rules without voting rights.
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Markuss Hussle runs a business managing women on the adult content site OnlyFans, where he takes half of their earnings. He also sells training to help others start OnlyFans management businesses, promoting it as an easy way to make money online.
Key Facts
Markuss Hussle (real name Markuss Kohs) is 27 years old and works as an OnlyFans manager.
He takes a 50% cut from the income of women who sell explicit videos on OnlyFans.
Hussle promotes a luxurious lifestyle, showing expensive cars, trips, and watches to attract clients and students.
He offers an $8,000 online training program for people wanting to start their own OnlyFans management companies.
OnlyFans is a UK-based adult content platform with 4.6 million creators and made $7.2 billion in revenue in 2024.
The site was founded in 2016 and mostly features women posting nude or semi-nude videos for paying fans.
OnlyFans has only 42 employees but has grown into a major digital platform for adult content.
Hussle avoids directly explaining what the women are asked to do on camera and said he would not want his own daughter to join OnlyFans.
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Australia’s Prime Minister Anthony Albanese announced that small businesses will get generous exemptions from capital gains tax after criticism of planned tax reforms. Changes include raising the turnover threshold and giving special treatment to startups and certain trusts to reduce their tax burden.
Key Facts
Australia has 2.7 million small businesses that will receive capital gains tax (CGT) exemptions.
The government is moving away from a flat 50% CGT discount to an inflation-linked system, which faced industry criticism.
Entrepreneurs and small firms below $2 million turnover were concerned about higher taxes under the proposed reforms.
The turnover threshold for small business CGT concessions will increase to $10 million.
About 98% of active businesses will qualify for CGT concessions after these amendments.
The government will keep all four existing CGT concessions but will make one broader and more generous.
These changes will cost the budget $475 million but are part of reforms expected to raise $8.1 billion overall.
Testamentary trusts (used to distribute income from deceased estates) will be exempt from a proposed 30% minimum tax on discretionary trusts, with more details to come.
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Zimbabwe is growing as a major producer of lithium, a key mineral used in batteries for electric vehicles and renewable energy. The country is moving from exporting raw lithium minerals to processing higher-value lithium products, mainly through Chinese-backed mining projects and new local investments.
Key Facts
Zimbabwe hosts several large lithium mines, many supported by Chinese companies.
Prospect Lithium Zimbabwe (PLZ) recently exported its first shipment of lithium sulphate, a processed lithium product.
PLZ is fully owned by Chinese company Zhejiang Huayou Cobalt.
Bikita Minerals is investing $400 million to shift from exporting raw lithium to making lithium precursor chemicals by 2027.
The state-owned Mutapa Investment Fund is working with Chinese partners to build a lithium processing plant at Sandawana mine.
Zimbabwe banned exports of unprocessed minerals, boosting mineral export earnings and volumes in early 2026.
Lithium export earnings almost doubled from $84 million in early 2025 to $179 million in early 2026.
The mining sector generated at least $2 billion in 2026, helped by good prices for gold, platinum metals, and lithium.
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An 83-year-old man named Ed Mansell lost a very rare and valuable Star Wars Lego collection, including a set worth up to $10,000, after consigning it to a used Lego store franchise. The collection disappeared amid disputes involving the franchise owner, store changes, lawsuits, police reports, and viral internet campaigns accusing the store and police of wrongdoing.
Key Facts
Ed Mansell’s rare Star Wars Lego collection included a Cloud City set valued at about $10,000.
Mansell’s son consigned the collection to a used Lego store chain called Bricks & Minifigs in Salem, Oregon.
The store sold $52,000 worth of Lego pieces but later changed ownership after ousting the original franchise owner, Chrystal Law.
Mansell stopped receiving payments and then discovered the collection was missing; he reported it stolen to local police.
A popular YouTuber named Reckless Ben supported Mansell by creating videos and stunts that accused the store and police of theft and cover-up.
Reckless Ben was charged by police with stalking and trespassing for his protests against the store owners.
Bricks & Minifigs closed the Oregon store due to safety threats against staff linked to the viral online campaign.
The dispute has led to several lawsuits and ongoing accusations between the parties involved.
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A new report from Harvard University says that the number of new households in the U.S. grew more slowly for the third year in a row in 2025. The report points to high housing costs and not enough homes being available as the main reasons for this slowdown.
Key Facts
Household growth means the number of occupied housing units increasing each year.
The growth of new households dropped for the third straight year in 2025.
High prices for homes make it hard for people to afford housing.
There are not enough homes available to meet demand.
The information comes from Harvard University's State of the Nation's Housing 2026 report.
Chris Herbert is the managing director at the Harvard Joint Center for Housing Studies.
The report was discussed in an interview on CBS News.
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The Bank of England is expected to keep interest rates steady at 3.75% amid concerns about inflation and global events, including conflict in the Middle East. A recent peace deal between the US and Iran has helped ease energy price fears, but UK inflation may still rise due to upcoming increases in energy bills.
Key Facts
The Bank of England’s main interest rate is likely to stay at 3.75% for the fourth meeting in a row.
Interest rates help control inflation, which means how fast prices increase.
UK inflation was 2.8% in the year up to May, lower than some experts expected.
Food price increases have slowed down, but transport costs rose the fastest.
President Donald Trump announced a peace deal with Iran, which may lead to more stable oil supplies.
Oil prices have dropped because the Strait of Hormuz, a key shipping route, is expected to reopen.
UK energy bills will rise in July due to a price cap increase by 13%, which could push inflation higher.
Mortgage rates in the UK have risen since March, with two- and five-year fixed deals now around 5.6%.
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The Federal Reserve kept interest rates unchanged in its first meeting with Kevin Warsh as chair. All members agreed to hold rates steady, but some officials now expect a possible rate increase before the year ends.
Key Facts
Kevin Warsh led his first meeting as chair of the Federal Reserve.
The Fed decided not to change interest rates for the fourth time in a row.
All 12 members of the Federal Open Market Committee agreed to keep rates steady.
Some Fed officials released new forecasts suggesting rates might rise later this year.
Amna Nawaz spoke with David Wessel about how the Fed might operate under Warsh’s leadership.
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The Federal Reserve decided to keep interest rates the same in its first meeting with Kevin Warsh involved. This choice was expected and the decision was made by a unanimous vote.
Key Facts
The Federal Reserve made a decision on interest rates.
Interest rates were kept steady, meaning they were not increased or decreased.
This was the first interest rate decision with Kevin Warsh participating.
The vote to keep rates steady was unanimous, meaning everyone agreed.
The decision matched what experts and markets expected.
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Oil prices are going down as the conflict with Iran appears to be nearing an end. Experts say this could lead to lower gas prices for consumers in the near future.
Key Facts
Oil prices have been high due to the war involving Iran.
The conflict might end soon, which is causing oil prices to drop.
Lower oil prices usually lead to cheaper gas at the pump.
Arjun Murti, an energy expert, talked about when gas prices might go back to normal.
The reduction in gas prices depends on global events and oil market changes.
People are watching the situation closely to see how soon fuel costs will decrease.
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The Federal Reserve decided to keep interest rates the same in its latest meeting. This was the first decision made with Kevin Warsh as the new chair of the Federal Reserve.
Key Facts
The Federal Reserve voted to keep interest rates unchanged.
The vote was unanimous, meaning all members agreed.
This is the first interest rate decision under Chair Kevin Warsh.
The decision was announced on a Wednesday.
The Federal Reserve controls interest rates to manage the economy.
CBS News correspondent Kelly O'Grady reported on this event.
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VIVATECH 2026 is a major European event focused on startups and new technology. The event highlights how artificial intelligence (AI) is changing business models and daily life. Amazon Web Services introduced a new AI shopping helper and discussed what jobs AI can do and efforts to increase women leaders in tech.
Key Facts
VIVATECH is Europe’s biggest event for startups and innovation.
A key topic is how AI will influence business and everyday life.
Amazon Web Services revealed a new AI shopping assistant tool.
AI can perform some jobs but not all, and people are exploring its limits.
There is a focus on increasing the number of women leaders in Silicon Valley tech companies.
The event featured interviews with important tech leaders like Amazon’s Julia White.
AI is driving new business models and changes in freelance hiring.
The article also mentions related business and technology news but focuses mainly on AI’s role at VIVATECH.
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The Federal Reserve decided not to change its main interest rate during its recent meeting. This was the first meeting with Kevin Warsh serving as the new chair of the Federal Reserve. Following the announcement, the Dow Jones stock market index dropped.
Key Facts
The Federal Reserve kept the benchmark interest rate steady.
This was the first meeting with Kevin Warsh as chair of the Federal Reserve.
The decision was announced on a Wednesday.
The Dow Jones stock market index fell after the announcement.
The report was from the New York Stock Exchange.
The Federal Reserve uses interest rates to help control the economy by influencing borrowing costs.
No rate increase or decrease was made at this meeting.
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California state regulators accused AT&T of lying to the Federal Communications Commission (FCC) about shutting down its old copper phone network without giving a proper replacement. The state says AT&T wants to replace wired phone lines with wireless service, but wireless service does not fully cover indoor areas or meet quality and safety needs.
Key Facts
AT&T wants to stop providing phone service over its old copper network to about 199,000 customers in California.
California’s Public Utilities Commission disagrees, saying AT&T is allowed to upgrade copper lines to fiber optics but can't just switch to wireless services.
AT&T claims state rules force it to keep the copper lines, but California denies this is true.
AT&T tried to get the FCC to override California’s rules to allow the shutdown of copper lines.
California says wireless service does not provide reliable indoor voice coverage needed to replace wired phone service.
The FCC’s broadband and LTE coverage maps show outdoor coverage, not indoor or reliable voice coverage.
Lack of guaranteed service quality, price concerns, and 911 emergency service access are issues with wireless replacement.
California’s 2008 policy encourages fiber upgrades to improve service rather than delaying them with restrictions on copper line retirement.
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A money market account with $35,000 can earn around 3.9% interest, resulting in about $1,365 after one year if rates stay the same. These accounts offer easy access to money, allowing check writing and payments, unlike certificates of deposit (CDs), which lock funds.
Key Facts
Money market accounts currently offer around a 3.9% interest rate.
A $35,000 deposit can earn about $336 in 3 months, $676 in 6 months, $1,019 in 9 months, and $1,365 in one year.
Interest rates may change, but are expected to remain relatively stable.
Money market accounts allow flexible access, including writing checks and making payments.
CDs have fixed terms and lock in money, making them less flexible.
High-yield savings accounts offer similar rates but usually lack check-writing features.
Savers can compare rates and terms online to find the best money market account.
These accounts combine the benefits of savings and checking accounts in one place.
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Tesco is moving 40,000 server workloads away from VMware products after Broadcom took over VMware and refused to honor previous license agreements. Tesco sued Broadcom for breach of contract, claiming Broadcom raised prices unfairly and stopped essential support, forcing Tesco to find costly alternative software.
Key Facts
Tesco bought perpetual VMware licenses and support until 2026, with options to extend support.
Broadcom acquired VMware in November 2023 and would not honor Tesco’s original license deal.
Broadcom demanded higher prices and required Tesco to buy new subscription licenses to get support.
Tesco stopped receiving support from Broadcom in January and has paid third parties for help since.
Tesco faces operational risks and extra costs due to the forced migration from VMware software.
The new virtualization software Tesco is moving to does not work with some current data security tools.
Tesco seeks at least £100 million (about $133.6 million) in damages from Broadcom and others.
The court case is scheduled to proceed between November 2027 and February 2028.
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The Federal Reserve kept interest rates steady between 3.5% and 3.75% during Kevin Warsh’s first meeting as chairman. Warsh announced plans to simplify how the Fed communicates and said many officials now expect rate increases this year due to rising inflation.
Key Facts
The Federal Reserve's main interest rate target stayed unchanged for the fourth meeting in a row.
Kevin Warsh is the new Fed chairman and is making changes to how the Fed shares information.
The Fed's policy statement was shortened from 341 words to 130 words.
Warsh will lead five task forces to review key Fed policies like communication, balance sheet, and inflation methods.
The economy is growing steadily but faces uncertainty partly due to the conflict in the Middle East.
Inflation is higher than expected, with the Personal Consumption Expenditures price index forecasted to rise 3.6% this year.
More Fed officials now believe interest rates will need to rise, while fewer expect rate cuts.
President Trump appointed Warsh, hoping for lower rates, but rising inflation has complicated this goal.
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Airbnb is offering free tickets to 2026 FIFA World Cup matches with select rentals in all 16 host cities across the U.S., Mexico, and Canada. This promotion allows travelers to book accommodation and match tickets together, helping fans avoid FIFA’s competitive ticket process and possibly boosting bookings in cities with lower travel demand.
Key Facts
Airbnb’s offer includes free 2026 World Cup tickets with certain rental bookings in all 16 host cities.
The promotion runs during the tournament in June and July 2026.
Not all Airbnb listings qualify; eligible ones show a soccer ball icon in search results.
Airbnb plans to give away more than 1,300 tickets through this program.
Each guest in a qualifying booking receives one ticket, up to the maximum occupancy of the rental.
World Cup ticket prices vary widely, from about $60 for early games to thousands of dollars for finals.
The bundled offer may help travelers avoid high and fluctuating ticket prices set by FIFA’s dynamic pricing.
Airbnb is also offering separate World Cup-related experiences, like events with former players, but these do not include match tickets.
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The Federal Reserve decided to keep US interest rates between 3.5% and 3.75% after its latest meeting. This decision came amid ongoing uncertainty about President Donald Trump's deal with Iran and rising inflation currently at 3.8%.
Key Facts
The Federal Reserve held interest rates steady rather than raising or lowering them.
Kevin Warsh led the Fed's meeting for the first time as head of the central bank.
Inflation in the US is currently running at 3.8%, which is above the Fed’s target.
The US-Israel war in Iran has contributed to inflation by increasing energy prices.
President Trump has pushed for interest rate cuts to boost the economy.
The Fed’s statement was shorter and more straightforward than before, reflecting Warsh’s communication style.
Nine out of 18 Fed officials expect interest rates may rise later this year.
The Fed aims to maintain price stability despite economic uncertainties linked to the Middle East conflict.
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The "Devil Wears Prada" movie series has made more than $1 billion in ticket sales worldwide. This milestone was reached after the second movie earned $676 million nearly 20 years after the first film was released.
Key Facts
The franchise has crossed $1 billion in total global box office earnings.
"The Devil Wears Prada 2" alone made $676 million around the world.
The second film's earnings helped push the franchise over the $1 billion mark.
The original "The Devil Wears Prada" movie came out about 20 years ago.
The franchise's success is measured by ticket sales internationally.
This milestone shows the lasting popularity of the movie series.
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