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An architecture firm, Foster + Partners, is not responsible for a man's death caused by a falling window from a London penthouse. The project managers and engineers were found guilty of safety violations related to the incident, which involved a window being blown off its hinges and falling onto the street.
Key Facts
Mick Ferris, 53, died in 2018 when a 130kg window fell 90 meters from The Corniche, a luxury building in London.
Foster + Partners designed the building but were cleared of responsibility by a jury.
The project managers, St James, and engineers, Lindner Prater, were found guilty of safety breaches.
A similar window incident happened a year before Ferris’s death with no injuries, but no design changes were made.
The window blew off its hinges after a restrictor meant to keep it closed was removed.
The window design had been changed from opening inward to outward to avoid clashing with ceiling features.
After the death, the window design was changed back to opening inward.
The court heard that the designers missed several chances to correct the risk of outward-opening windows.
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Palantir Technologies, a US data analytics and AI company, paid only 1.4% in global taxes in 2025 despite growing revenues and large government contracts. A new report shows Palantir shifts profits to the US to reduce taxes and benefits from recent tax cuts under President Donald Trump.
Key Facts
Palantir reported $1.94 billion in revenue for the second quarter of 2025, a 93% increase from the previous year.
The company’s global effective tax rate was only 1.4% in 2025.
Palantir shifts profits from contracts in the UK and Europe to its US parent company, lowering taxable income abroad.
In the UK, Palantir paid about £2 million ($2.7 million) in corporate taxes despite winning over £670 million ($900 million) in government contracts.
Palantir benefits from US tax changes made under President Donald Trump, including the cut of the federal corporate tax rate from 35% to 21% in 2017.
Palantir was founded in 2003 and has connections to US intelligence agencies through early backing by In-Q-Tel, a CIA venture fund.
The company works with US government agencies like ICE and DHS, providing technology to combine large datasets, raising privacy concerns.
Palantir’s market value is about $370 billion, making it one of the largest publicly traded companies.
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A Minnesota woman sued Chipotle after she was hospitalized with sepsis from eating a salmonella-contaminated burrito bowl. The illness is linked to a multistate outbreak traced to jalapeño peppers used by Chipotle, which has caused hundreds of illnesses across many states.
Key Facts
Kristen Behne ate a chicken burrito bowl at a Chipotle in Roseville, Minnesota, on June 24.
She developed sepsis and was hospitalized three days later.
Genetic tests connected her infection to a larger outbreak of salmonella linked to Chipotle jalapeño peppers.
Over 200 illnesses are connected nationally to this outbreak, with at least 110 in Minnesota.
The Centers for Disease Control and Prevention (CDC) reported 345 cases across 27 states as of early August.
Chipotle removed the jalapeño peppers involved and switched to a new supplier.
The lawsuit demands more than $75,000 in damages and references Chipotle’s past food safety issues, including a 2015 salmonella outbreak and a $25 million fine in 2020.
The plaintiff’s lawyers may seek additional damages based on what Chipotle knew about the risk before the outbreak.
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Workers at Octopus Energy, a major UK renewable energy company, want their workplace to officially recognize a union called GMB. The company says there is no current need for a union and denies being against unions, while the GMB union says staff want more say in their work conditions through union representation.
Key Facts
Octopus Energy is one of the largest energy companies in the UK and focuses on renewable energy.
The GMB union plans to formally ask Octopus Energy to recognize the union voluntarily.
Octopus Energy states no demand from staff currently exists for union recognition.
The company says it treats employees well and makes them shareholders.
GMB argues that owning shares does not give employees enough influence over their work terms.
The union says Octopus management does not support unionization plans.
Greenpeace UK supports Octopus Energy’s low-carbon goals and says unions must be part of the energy transition.
There is disagreement between GMB and Octopus over fossil fuels, heat pumps, and electric vehicles.
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Saudi Arabia's Public Investment Fund (PIF) is changing its sports investment strategy by buying a major part of Electronic Arts (EA), a top video game company known for popular sports games like Madden NFL. This move gives Saudi Arabia a new way to influence global sports and reach millions of fans through gaming instead of just owning teams or hosting events.
Key Facts
Saudi Arabia’s PIF previously invested heavily in sports teams, leagues, and events worldwide.
The PIF sold most of its stake in the football club Al-Hilal and stopped funding LIV Golf earlier this year.
PIF and a consortium including Jared Kushner’s Affinity Partners agreed on a $55 billion deal to buy Electronic Arts.
EA makes popular sports video games such as Madden NFL, which is played by over 2 billion people yearly.
EA holds exclusive rights for the NFL in video games, which helps capture fans across all NFL teams.
The purchase allows Saudi Arabia to reach American sports fans through digital gaming rather than just traditional sports ownership.
EA’s games collect detailed data on player behavior, purchases, and usage that can provide valuable consumer insights.
Saudi Arabia’s strategy fits into its Vision 2030 plan to diversify its economy away from oil and gain geopolitical influence through sports.
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Mortgage rates in the U.S. have recently risen to their highest level in over a year, making it harder for many Americans to afford homes. This rise benefits buyers who can pay with cash and foreign investors, creating a bigger gap between wealthier buyers and those relying on loans.
Key Facts
The average 30-year fixed mortgage rate went up to 6.81% in late July 2026.
Higher mortgage rates have caused fewer people to apply for home loans and refinance existing ones.
Cash buyers do not face higher monthly payments unlike those borrowing money for homes.
About 25% of home sales were paid in cash in June 2026, the same as the previous month but less than the year before.
Foreign buyers are more likely to pay cash, with 47% doing so overall and 67% among non-resident foreign buyers.
First-time homebuyers mostly rely on mortgages and are struggling the most due to rising costs and higher rates.
The average age of first-time homebuyers in the U.S. has reached 40 years old, a record high.
Rising mortgage rates strengthen the divide between lower- to middle-income households and wealthier buyers in the housing market.
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Jason Arday, a former Cambridge professor facing plagiarism and false claims accusations, said he received a 1.4 million advance for his upcoming memoir. Cambridge is investigating his qualifications following multiple questions, while his publisher Simon & Schuster plans to publish the book despite the controversy.
Key Facts
Jason Arday resigned from Cambridge amid accusations of plagiarism and exaggerated claims about his career.
He said he was paid 1.4 million (currency unspecified) as an advance for his memoir by Simon & Schuster.
The memoir covers Arday’s life story, including his autism diagnosis and becoming the youngest Black professor at Cambridge.
Cambridge launched an investigation after new information about Arday’s qualifications and career emerged.
Arday has been accused of copying parts of his PhD thesis and making false assertions about fundraising and incidents involving masked attackers.
Liverpool John Moores University cleared Arday of plagiarism, but questions remain among academics.
Arday appears to have falsely claimed to have published another book, which was proposed but never published.
Simon & Schuster said it will proceed with publishing the memoir and may have edited some claims in the manuscript.
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Iraq is facing a serious money shortage that is affecting the government's ability to pay salaries and cover basic expenses. This financial trouble is linked to a big drop in oil revenues after exports stopped through the Strait of Hormuz, highlighting Iraq’s heavy dependence on oil income.
Key Facts
Iraqi Minister of Health said the government is struggling to find money for salaries.
Iraq needs about 10.8 trillion dinars ($8.24 billion) per month to pay salaries and basic costs.
Oil exports through the Strait of Hormuz have stopped, causing a sharp drop in Iraq’s oil revenues.
The government has paid part of the salaries but still owes about 3.2 trillion dinars ($2.4 billion) this month.
Total monthly state revenue recently has been around 3 trillion dinars ($2.3 billion), less than what is needed.
Many government workers are anxious because salary delays are affecting their daily lives and financial obligations.
The economic crisis reveals the risks of Iraq’s dependence on oil and the challenges in diversifying its economy.
The government was planning to boost the economy with new development projects and private partnerships before the crisis worsened.
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Ford announced a new midsize electric pickup truck called the Fathom. The truck will be built on a new universal electric vehicle platform and start production in 2027 at the Louisville, Kentucky plant.
Key Facts
The new electric truck is named Ford Fathom.
"Fathom" is a word that usually means a length of six feet.
The name has no historical connection to previous Ford trucks.
Ford considered many other names but chose Fathom to give the truck character.
Two company copywriters independently suggested the name Fathom.
Engineers helped decide the final name through a survey.
The Fathom will be available in North America starting in late 2027, with pre-orders earlier that year.
The base price for the Fathom will be $28,350.
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French winemakers in southeastern France are concerned that this summer’s wildfires and smoke may affect the taste of their 2026 wine harvest. Experts and farmers are testing grapes to check if the smoke has changed their flavor, which could make the wine less desirable or unsellable.
Key Facts
Wildfires burned parts of vineyards in the Var region, destroying over 6,000 hectares of land.
Winemakers fear the smoke could cause a "smoky" or burnt taste in the 2026 wine vintage.
Smoke can bind to grape sugars, creating changes in flavor that appear after fermentation.
Some vineyards lost half or more of their grape yield due to fire damage.
Lab tests are being done to detect if grapes are still good for making wine.
Wines with smoky flavors are not popular and may be hard to sell even if drinkable.
One winemaker plans to harvest grapes in separate batches to reduce potential damage.
Vineyards sprayed with fire retardant chemicals have been declared unfit for winemaking so far.
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The company that owns the Raleigh bicycle brand has started insolvency proceedings after failing to find a buyer. The Netherlands-based Accell Group, which owns Raleigh and other bike brands, could not find a way to keep the business running in its current form.
Key Facts
Raleigh is a historic bike brand founded in 1887 and was once the largest bike maker in the world.
Production in England stopped in 2002, and the brand was sold to Accell Group in 2012 for $100 million.
Accell Group owns several bike brands and shifted most production to Hungary to reduce costs by about 30%.
Accell was acquired in 2022 by U.S. private equity firm KKR for €1.4 billion, aiming to benefit from growth in cycling.
The bike industry faced challenges after a pandemic-driven surge in demand dropped, leaving too much unsold stock.
KKR handed over Accell to creditors in February 2024 after cost-cutting and takeover talks failed.
Accell’s CEO said all options were tried but no way was found to continue the business as it was.
The company is now working with court-appointed administrators to preserve parts of the business and jobs where possible.
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The article talks about the collapse of the Situational Awareness hedge fund, which is linked to the current boom in AI-driven investing. It also includes advice for someone trying to manage saving for retirement, paying college costs, and caring for a seriously ill parent. Additionally, it mentions a billionaire's suggestion to sell all U.S. stocks.
Key Facts
The Situational Awareness hedge fund recently failed spectacularly.
This failure is connected to the rise of investing based on artificial intelligence (AI).
A caller asks how to handle saving for retirement, paying for children's college, and caring for a mother with a degenerative illness.
Jill and Mark provide guidance on balancing these financial priorities.
Billionaire investor Jeremy Grantham advised people to sell all their U.S. stocks.
The advice from Grantham has sparked reactions because it is seen as extreme.
The discussion was featured on the CBS News show "Money Moves with Jill Schlesinger."
The article mainly focuses on personal finance and investment issues.
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Diageo’s new CEO, Dave Lewis, has announced a plan to save $1 billion over two years by making the company leaner and more flexible. After this announcement, Diageo’s shares rose by 10%, showing investor confidence, but the company also reported a 2% drop in sales and a 27% fall in operating profit.
Key Facts
Dave Lewis, former Tesco CEO, is leading Diageo’s turnaround plan with a goal of $1 billion in savings.
The restructuring may cause job losses, which Lewis acknowledged would impact employees.
Diageo shares went up 10% after the announcement of the cost-saving plan.
The company’s dividend was cut earlier and will stay at a reduced level of $0.50 per share.
Diageo’s net sales fell 2% to $19.6 billion in the year ending June 2026.
Operating profit dropped 27% to $3.16 billion, partly due to one-time costs from restructuring.
The $1 billion savings come from a $1.2 billion overhaul which is already in progress.
Diageo owns famous brands like Johnnie Walker and Smirnoff.
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Nintendo’s profits rose by 53.5% in the three months to June, helped by a refund from tariffs imposed under President Trump’s administration. Although sales dropped 10% compared to last year, the refund offset this and boosted earnings.
Key Facts
Nintendo’s profit reached ¥147.4 billion (£694 million), much higher than the expected ¥77.8 billion.
Sales of the Switch 2 console and popular games remained strong but overall sales fell by 10% to ¥517.8 billion.
The US Supreme Court ruled that President Trump’s tariffs, called “Liberation Day” trade levies, were illegal.
About $100 billion of the $165 billion collected in tariffs has been refunded by the US government.
Nintendo filed a lawsuit demanding a full refund with interest for the tariffs it paid.
The company’s shares rose by 2.87% after announcing the earnings.
Nintendo faces a class action lawsuit claiming it raised prices due to tariffs but did not lower prices after the refund.
President Trump recently imposed new tariffs on more than 80 countries, including Japan, affecting companies like Nintendo.
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SoftBank Group, a Japanese technology investment company, reported an 18% drop in profit for the first quarter of the fiscal year, earning 347.3 billion yen ($2.2 billion) compared to 421.8 billion yen the previous year. Despite this, its sales rose nearly 11% to 2 trillion yen ($12.7 billion), and the company continues to invest heavily in areas like artificial intelligence, energy, robotics, and autonomous driving.
Key Facts
SoftBank Group's profit fell by 18% in the April-June fiscal first quarter.
The company earned 347.3 billion yen ($2.2 billion) in profit, down from 421.8 billion yen last year.
Quarterly sales increased by almost 11%, reaching 2 trillion yen ($12.7 billion).
SoftBank invested an additional $20 billion in OpenAI and plans more investments this year.
The company owns shares in firms like ByteDance (TikTok’s parent), Intel, PayPay, and TSMC.
SoftBank operates through its Vision Fund, which invests in new technology startups with both high potential and high risk.
CEO Masayoshi Son is focusing on future technologies including autonomous driving and robotics.
SoftBank Group’s stock fell 4% in Tokyo trading after the report.
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Fannie Mae and Freddie Mac have introduced new rules for condominium loans to reduce financial risks related to condo buildings’ safety and finances. These rules require more detailed checks on condo associations’ money and building conditions, which may lead to longer loan approval times and more loan denials for buyers.
Key Facts
Fannie Mae and Freddie Mac guarantee most U.S. mortgages and set lending rules for condos.
New rules started on August 3, requiring stricter checks on condo finances and maintenance.
Condo associations now must save 15% of their annual budget for repairs, up from 10%.
The simplified "limited review" process was removed; most condos need a full, detailed review.
These changes aim to lower risks like underfunded repairs and underinsurance in condo buildings.
The rules were motivated by concerns after condo collapses, such as Surfside, Florida, in 2021.
Loan approvals may take longer and result in more denials because of heavier documentation.
Condo owners might face higher fees due to increased reserve requirements.
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Many young people in the UK do not know they have money saved in Child Trust Funds (CTFs), government accounts set up for children born between 2002 and 2011. Over 750,000 accounts remain unclaimed, with an average of about £2,200 each, because owners are often unaware of their existence.
Key Facts
Child Trust Funds were created by the UK government for children born from September 2002 to January 2011.
Each fund had a government voucher starting at £250 (£500 for low-income families), with extra payments when the child turned seven.
Around 6.3 million CTFs were set up, but over 750,000 accounts have not been claimed.
The average amount in each unclaimed fund is about £2,200.
Young people can manage their CTF from age 16 but cannot withdraw money until they turn 18.
Many are unaware of their CTF because they were not informed or the funds are held by various private providers.
The Share Foundation helps young people find their CTFs for free and urges more awareness.
The UK government says the savings belong to individual account holders and cannot be accessed or transferred by the government directly.
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The University of Greater Manchester has ended the contract of its vice-chancellor, Sir George Holmes, after investigations into financial mismanagement and misconduct. Holmes was suspended last year and is no longer employed as the university seeks to restore confidence and find a permanent leader.
Key Facts
Sir George Holmes served as vice-chancellor for 20 years before his contract was terminated.
Holmes was suspended in May last year following an external investigation into allegations of financial mismanagement, bullying, racism, and fraud.
The university, formerly known as the University of Bolton, informed staff and students that Holmes is no longer employed there.
Police are investigating suspected fraud and bribery involving over £1 million in transactions between 2014 and 2025.
Three people were arrested in July as part of the fraud probe but have since been released on bail without charges.
The current acting vice-chancellor, Greg Walker, remains in place while the university plans to find a permanent replacement.
The university’s governing body aims to improve governance and maintain a focus on educational quality and community trust.
Local MP Phil Brickell called for stability and transparency during this time, emphasizing the importance of the university’s role in the community.
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Nintendo’s profit rose by more than half in the first quarter thanks to the success of the Super Mario movie and strong sales of its new Switch 2 gaming console. Despite a drop in overall sales and challenges from tariffs and rising component costs, Nintendo expects solid software sales and continued Switch 2 console sales this fiscal year.
Key Facts
Nintendo’s profit in April-June 2025 was 147.4 billion yen ($933 million), up 53.5% from the prior year.
Sales for the same period fell 9.5% to 517.8 billion yen ($3.3 billion).
Tariffs from President Trump and higher costs for memory chips and components negatively affected Nintendo’s profits.
Nintendo sold 3.82 million Switch 2 consoles globally in the quarter.
Popular Switch 2 games include “Yoshi and the Mysterious Book” and “Pokemon Pokopia,” with software sales totaling 9.46 million units.
The Super Mario Galaxy Movie earned 517.8 billion yen ($3.3 billion), mostly from overseas.
Nintendo forecasts a full-year profit of 310 billion yen ($2 billion), down nearly 27%, with sales expected to drop 11% to 2.05 trillion yen ($13 billion).
Nintendo expects to sell 16.5 million Switch 2 consoles and 60 million game software units this fiscal year.
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Air India has named Tewolde Gebremariam as its new CEO to lead the airline through serious financial losses and safety challenges, including a fatal crash in 2023. Gebremariam, formerly CEO of Ethiopian Airlines, is expected to focus on growth and operational improvements as Air India recovers from setbacks.
Key Facts
Tewolde Gebremariam is the new CEO of Air India, replacing Campbell Wilson.
Gebremariam was previously CEO of Ethiopian Airlines for over 10 years.
Air India was bought by the Tata Group from the Indian government in 2022.
The airline is dealing with heavy losses, recording nearly $2.3 billion in losses recently.
Air India experienced a deadly crash in June 2023 killing 260 people, with the final report due in October.
The airline has cut about one-third of its international flights amid ongoing challenges.
Air India operates 198 aircraft and flies to 91 destinations in India and abroad.
The airline faces wider industry pressures including increased costs, route disruptions, and regulatory issues.
Gebremariam’s priorities include improving employee morale, fleet expansion, and reshaping Air India’s route network.
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