Business

LONDON/ABU DHABI, Feb 28 – The United States and Israel carried out coordinated strikes on Iran on Saturday, aiming at senior leadership targets and triggering a fresh wave of conflict in the Middle East. President Donald Trump said the action was intended to eliminate a security threat and create an opening for Iranians to challenge their government. The developments unsettled neighboring oil-producing Gulf Arab states as concerns about a broader escalation mounted. Tehran responded swiftly,

Ocado has announced plans to eliminate 1,000 roles as the retail technology group seeks to save £150m through a sweeping restructuring effort. The company said around 5% of its global workforce will be impacted, with approximately two-thirds of the reductions taking place in the UK. Most of the affected positions will be cut from its UK operations, headquartered in Hatfield, Hertfordshire. Roughly half of the roles being eliminated are in technology, while the remainder are support positions.

NEW YORK (AP) — While death and taxes may be unavoidable parts of life, leaving your loved ones with a large financial burden doesn’t have to be. Affluent individuals have long used strategies to preserve wealth and pass it on to the next generation with minimal interference from taxes. However, the same tools and techniques can also benefit those with more modest savings who want to optimize what they leave behind. “It’s a carefully planned game, often played over many years,” explains Mark

Federal Reserve Chairman Jerome Powell revealed on Sunday that he is the subject of a criminal investigation launched by federal prosecutors. In a recorded statement, Powell explained that the U.S. Department of Justice had served subpoenas to the Federal Reserve and warned him of potential criminal charges related to his testimony before the Senate concerning renovations of Fed buildings. Powell described the investigation as extraordinary and suggested it stemmed from his refusal to lower

A senior Google executive claims she was dismissed after raising concerns about a colleague who discussed his swinger lifestyle with clients and shared an explicit photo of his wife. Victoria Woodall told an employment tribunal that she faced retaliation from the company after reporting a male manager’s conduct, who was later terminated following an internal inquiry. Documents presented in court and reviewed by the BBC reveal that Google's internal investigation found the manager had

NEW YORK (AP) — Key tax credits aimed at making health insurance more affordable for most participants in the Affordable Care Act expired as the new year began, resulting in increased healthcare costs for millions across the country. A 43-day government shutdown driven by Democrats highlighted the urgency of the issue. Meanwhile, some moderate Republicans pushed for a resolution with an eye on preserving support ahead of upcoming elections. Former President Donald Trump proposed a possible

Since taking office in January, President Donald Trump has dramatically shifted the United States’ approach to trade by imposing a broad set of tariffs, effectively surrounding the nation’s economy with hefty trade barriers. These import taxes, applied at double-digit rates to goods from nearly all countries, have disrupted global trade flows and brought financial pressure to both businesses and consumers worldwide. At the same time, they’ve funneled tens of billions of dollars into the U.S.

Dec 16 (Reuters) - Amazon.com Inc is currently in discussions to invest in OpenAI, the developer behind ChatGPT, in a potential agreement that could push the artificial intelligence company's value beyond $500 billion, according to a person with knowledge of the situation. Amazon's potential contribution could reach around $10 billion, although talks remain in early stages and may change, the source noted, speaking anonymously due to the confidential nature of the discussions. This

PARIS, Nov 27 (Reuters) – After eight weeks in court, the trial surrounding the 2009 crash of an Air France jet that claimed the lives of all 228 on board entered its final phase on Thursday, with Air France and Airbus defending themselves against charges of involuntary manslaughter. On Wednesday, the prosecution appealed to the Paris Appeals Court to overturn a previous ruling that had cleared both companies of responsibility for the crash. The Airbus A330 had plummeted into the Atlantic Ocean

WASHINGTON (AP) — For many years, U.S. officials have cautioned against relying on loans from China’s state-run banks, which have played a central role in Beijing’s transformation into a global power. Yet a recent study has surfaced a surprising reality: the United States has received more funding from these institutions than any other nation. The full impact of this financial relationship on security and technology still remains unclear. According to AidData, a research center at the College

Just over a year ago, Ryan Sprankle welcomed President Donald Trump to one of the three family-owned grocery stores near Pittsburgh. At the time, Trump was campaigning and spoke with Sprankle about the rising costs of groceries, even picking up a bag of popcorn during the visit. Today, Sprankle’s message is quite different. If Trump or other lawmakers were to visit now, he’d express concern over the delayed distribution of SNAP benefits during the government shutdown, which has negatively

NEW YORK (AP) — Air travelers across the United States are bracing for worsening delays and cancellations this week unless lawmakers can come to an agreement to end the ongoing federal government shutdown. On Saturday, U.S. airlines were forced to cut over 1,500 flights, and more than 2,900 were scrapped on Sunday after the Federal Aviation Administration instructed carriers to reduce traffic due to staffing shortages. The shortage is mainly a result of unpaid air traffic controllers calling

US President Donald Trump has declared an immediate halt to all ongoing trade discussions with Canada in response to a televised ad criticizing the tariffs he implemented against the country. The commercial, funded by Ontario’s provincial government, featured a quote from former President Ronald Reagan—widely regarded as a conservative icon—stating that tariffs "hurt every American." Reacting on social media, Trump denounced the ad as "FAKE" and "egregious,"

Last week, China's Ministry of Commerce issued "Notice No. 62 of 2025". Unlike ordinary administrative updates, this one has disrupted the delicate trade truce between China and the United States. The announcement outlined broad new restrictions on rare earth exports, strengthening China’s hold over the global supply of these key materials—reigniting concerns in Washington about China’s strategic economic position. China dominates the rare earth processing industry, which is

The UK job market appears to be stabilising following a period of increased unemployment that was largely attributed to recent tax hikes initiated by Chancellor Rachel Reeves. As Reeves prepares to unveil her budget on 26 November, new figures from the Office for National Statistics (ONS) show that the unemployment rate edged up to 4.8% in the three months to August, compared to 4.7% in July. Economists had anticipated the rate would remain unchanged during the period. Additional data from HM

The Trump administration has initiated large-scale layoffs of federal employees as part of an effort to gain leverage over Democrats during the ongoing government shutdown. "Reductions in force have begun," confirmed White House Office of Management and Budget Director Russell Vought on Friday via a social media post, referencing the term commonly abbreviated as "RIFs". A spokesperson for the office verified that the layoffs were underway and described them as “significant.”

BEIJING/LOS ANGELES, Oct 10 - China will begin imposing port charges on ships that are owned, operated, built, or registered in the United States starting Tuesday, in response to similar fees implemented by the U.S. targeting vessels linked to China, according to China’s transport ministry on Friday. Later that day, U.S. President Donald Trump announced a new round of measures, including raising tariffs on Chinese goods to 100% and setting restrictions on vital software exports, citing

Oct 7 (Reuters) - Tesla has introduced more budget-friendly versions of its popular Model Y SUV and Model 3 sedan. Priced at $39,990 and $36,990 respectively, these new models aim to attract new buyers, though some critics feel the prices are still too high to appeal broadly to cost-conscious consumers. CEO Elon Musk has previously emphasized the importance of offering a car priced under $30,000—after incentives—to capture a larger share of the market. The company is responding to declining

U.S. Advances Deal for Lithium Mine Investment WASHINGTON (AP) — The White House is pushing ahead with an agreement that would allow the U.S. government to acquire a minor ownership in a Canadian company working on one of the world’s largest lithium projects located in northern Nevada, according to a government official. The Department of Energy and Lithium Americas, which is leading the Thacker Pass lithium mine and processing initiative about 200 miles north of Reno, have reached new terms