Business

The Dutch central bank confirmed this week that it had shifted tonnes of the country’s gold reserves away from North America, saying the move would leave it “better prepared for severe crises”. About 86 tonnes from roughly 313 tonnes previously held in the US and Canada were moved to London, citing rising geopolitical tensions. The aim was to ensure the gold would be easier to access should an emergency arise. The announcement naturally raised questions. Why had the Netherlands chosen to act

US President Donald Trump has said Canada wants “the advantages of being a state without actually becoming one” after trade negotiations between the two countries collapsed late on Friday. In his first remarks since the talks failed, prompting new US tariffs of 50% on a selection of Canadian products, Trump also claimed American farmers had faced “enormous tariffs” for many years. His comments followed Canadian Prime Minister Mark Carney’s description of the new duties as a “miscalculation”

A new round of US tariffs targeting a broad range of Canadian products took effect on Saturday after trade negotiations collapsed at the last moment. Announcing the suspension of talks shortly before Friday night’s deadline, Canadian Prime Minister Mark Carney said his government would respond with matching tariffs on US products “dollar for dollar”. Carney argued that late revisions to the American proposal were unfair and economically unsound, while also raising doubts about whether any

Sportswear retailer JD has lowered its profit outlook as rising living costs, intensified by the US conflict with Iran, reduced demand for trainers. JD Sports, which stocks major athletic labels such as Nike and Adidas, said broad-based inflation had squeezed household finances. This contributed to weaker sales in key regions, including the US, where the retailer found it difficult to clear trainers and other footwear quickly. Executives also warned that subdued consumer spending was likely to

Water companies may be permitted to increase customer bills during droughts under proposals being examined by the regulator for England and Wales. Ofwat’s plans would allow suppliers to reflect “water scarcity” in their charges as part of measures intended to curb consumption. The idea has been compared with surge pricing, where taxi and private-hire operators increase fares when demand is high. The proposals emerged only days after senior political figures expressed anger at water companies

Fragments from a damaged engine shattered a window on a Ryanair aircraft, leaving a passenger partially pulled outside the cabin during a flight in July, according to US investigators. A preliminary report from the National Transportation Safety Board (NTSB) said an engine fan blade separated shortly after the 10 July service departed Greece for Germany. Serbian businessman Ljubisa Karović, who was seated beside the window in 11F, had his head and right arm drawn through the broken opening

Repeated and disruptive heatwaves this summer are expected to have cost the UK economy more than £4bn in lost output by the end of July, according to new analysis. Environmental thinktank Verdant previously estimated that June’s unusually hot conditions caused £2.36bn in economic damage. After expanding its assessment to cover July’s high temperatures, it now puts the total loss at £4.4bn. With temperatures climbing again this week, Verdant director James Meadway said: “The economic

For generations, a typical visit to a British pub has meant waiting at the bar, trying to catch the bartender’s attention to order a pint, and then returning to stand with friends for a chat. This informal, bustling atmosphere has long defined the traditional pub experience. However, Westminster city council has been accused of attempting to change that custom. The council, which oversees one of Europe’s busiest nightlife areas – including Soho and the West End – has proposed discouraging what

BP has announced plans to sell its North Sea oil and gas operations, signalling the end of nearly 60 years of activity in the region. On Friday morning, the company confirmed it had begun a formal process to market its North Sea assets for a possible sale. The decision forms part of a broader strategy by BP’s new chief executive, Meg O’Neill, to streamline operations and reduce overall debt. O’Neill stated: “The North Sea continues to play a key role in the UK’s energy system. However, as we

Wessex Water granted its chief executive a pay rise well above inflation despite being prohibited from issuing bonuses due to sewage discharge incidents, newly released accounts show. Ruth Jefferson’s base salary rose by 14% in October, increasing from £590,000 to £670,000, before additional benefits were included. This uplift significantly exceeded the 3.5% awarded to staff and placed her earnings at 18 times the company’s median salary. Executive compensation in the water sector has faced

The co-founder and chief executive of Ocado has said he has “no intention of being a puppet master” overseeing staff decisions, amid signs of tension in the boardroom over succession plans at the grocery technology group. Tim Steiner, who is due to step down as chief executive in 2028, indicated that any incoming leader would be comfortable continuing to work alongside him. Shares in the company fell by almost 15% on Thursday, reaching their lowest level in more than ten years, after Ocado

China’s economic expansion slowed markedly from April to June, as subdued domestic demand and the effects of the Iran conflict on oil prices weighed on the economy, despite robust export performance. Official gross domestic product (GDP) data indicated that the world’s second-largest economy grew by 4.3% in the second quarter, falling short of Beijing’s yearly target and down from the 5% growth recorded in the first quarter. The figures were released a day after separate statistics showed that

Apple on Friday accused OpenAI of misappropriating trade secrets as the artificial intelligence company moves forward with plans to develop its own hardware for ChatGPT, marking a significant breakdown in relations between the longtime partners. In a lawsuit filed in federal court in California, Apple alleges that OpenAI encouraged Apple employees it was attempting to hire to share confidential company information, and even advised them on how to avoid detection during the transition. “This

Budget carrier EasyJet has announced that it has reached an agreement in principle on a £5.7bn takeover approach from US private equity group Apollo Global Management, only days after backing a proposal from a competing bidder. The airline stated that Apollo’s proposal offered “a superior outcome” for shareholders compared with the earlier bid from US investment firm Castlelake, which EasyJet had provisionally supported over the weekend. EasyJet ranks among Europe’s biggest airlines. It employs

ITV has agreed to sell its media and entertainment operations to Sky in a £1.6bn transaction that the companies say will establish a powerful competitor to international streaming platforms. The agreement covers ITV’s traditional broadcast channels as well as its ITVX streaming platform, with Sky chief executive Dana Strong describing the move as “a landmark moment for British media”. The acquisition ranks among the largest deals ever seen in the UK media sector. Talks began in November last

Warning: This story contains descriptions of abuse An investigation by BBC Eye has found that Instagram has been displaying paid advertisements in India that promote child sexual abuse material. The adverts, reviewed by the BBC World Service, included phrases such as “rape video” and “child video” and directed users to channels on the messaging platform Telegram, where the illegal material was offered for sale for as little as 99 rupees (around 80p). Within hours of the investigation being

King Charles’s property management company has surpassed £1bn in annual earnings for the third year in a row, driven largely by the rapid expansion of offshore wind projects funded through consumer energy bills. The Crown Estate, which oversees the royal family’s land and property holdings, posted profits of £1.2bn for the most recent financial year—nearly triple the figure reported three years ago. Around two-thirds of this total was generated by offshore wind activities. Last year alone, wind

June 12 (Reuters) - Anthropic announced on Friday that it will "immediately disable" its most advanced artificial intelligence models for all users after the U.S. government instructed the company to suspend access for foreign nationals, citing national security concerns. According to a company statement, Anthropic received an export control order requiring it to halt access to its Fable 5 and Mythos 5 models for all foreign nationals. The directive did not include detailed

Chief executive pay climbed by almost 6% in 2025, reaching an average of $17.7 million, as corporate boards rewarded leaders for increasing profits and delivering stronger returns to shareholders. Compensation packages were also designed to encourage executives to remain in their roles and sustain company performance in the coming years. Among the companies reviewed in the AP’s analysis, a worker earning the median salary would need 200 years to match what a CEO earned in a single year. In the