Business and economic news — companies, markets, trade, and corporate developments.
Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut
Elon Musk crossed into uncharted wealth territory this week, becoming the world's first trillionaire as his net worth hit $1.11 trillion on the Bloomb…
'I was employee number one': SpaceX co-founder reacts to firm's market debut
Tom Mueller, SpaceX's first employee and co-founder alongside Elon Musk in 2002, reflected on the rocket company's trajectory from scrappy startup to …
India's 'blue gold' starts a new drinks industry
India's agave boom is reshaping the country's spirits landscape. Local distillers are harvesting the succulent plant, which grows wild across Indian t…
UK signals it may block payout to British Steel owner
The UK government is preparing to block a substantial compensation claim from Jingye Group, the Chinese steelmaker that has owned British Steel since …
Ryanair investigated over charging parents to sit with children
The UK's Competition and Markets Authority launched a formal investigation into Ryanair's practice of charging parents to sit adjacent to their childr…
Elon Musk's stratospheric rise to trillionaire status - in charts
Elon Musk's net worth has entered uncharted territory, with the Tesla and SpaceX founder now approaching trillionaire status faster than any individua…
UK economy contracts as Iran war impact felt
Britain's economy contracted in April as geopolitical tensions with Iran started weighing on business confidence and investment decisions. The Office …
Watch: Three things to know about SpaceX's stock market debut
SpaceX is heading toward its initial public offering, marking a watershed moment for Elon Musk's space company after nearly two decades as a private e…
Elon Musk's SpaceX raises $75bn ahead of world's biggest stock market launch
SpaceX has raised $75 billion in a funding round ahead of what sources describe as the world's biggest stock market launch. The capital injection valu…
'By the grace of God': Miners dig on as lab-grown diamonds change market
Lab-grown diamonds are reshaping the mining industry, forcing traditional diamond miners to dig harder in an increasingly competitive market. The synt…
How 'confused' AI rollout hurts firms and baffles staff
Companies are rushing AI adoption without clear strategy, creating confusion among employees and undermining productivity gains. The pressure to imple…
Caribbean hot sauce producers warn of shortages and higher prices
Caribbean hot sauce manufacturers are bracing for supply shortages and price hikes due to dwindling chilli pepper stocks, according to producers based…
Why the economics make this the craziest World Cup ever
The 2026 FIFA World Cup arrives amid economic turbulence that reshapes how the tournament operates and who can afford to attend. Hosted across the Uni…
Villagers take fight against Lidl store plans to Welsh government
Residents in Llantwit Major and Llanmaes are escalating their opposition to a proposed Lidl supermarket, taking their campaign directly to Welsh gover…
Trump says 'I love the inflation' as US prices rise at fastest rate in three years
Donald Trump claimed to love inflation as U.S. prices climbed at their fastest rate in three years, sparking immediate pushback from economists and ma…
Paper plant closure fears spark community protest
A paper mill in Launceston faces closure, threatening 167 jobs and sparking community protests. Workers and families gathered to oppose the shutdown, …
The £5 coffee that tells a story of global economic turmoil
Coffee prices hit a 13-year high across UK cafes, with premium city-centre cups now fetching £5. This spike reflects a perfect storm of economic press…
SpaceX IPO: Preparing for the biggest liftoff yet?
SpaceX edges closer to a potential initial public offering that could reshape the space industry and silicon valley's venture capital landscape. Elon …
New candy stores are popping up across NYC. Why?
# Candy Stores Are Opening Across NYC Despite Consumer Slump New candy stores are expanding across New York City at a moment when US consumer confide…
Korea fines e-commerce giant $400m over data breach affecting millions
South Korea's antitrust regulator imposed a 400 million dollar fine on e-commerce giant Coupang, marking the country's largest penalty for a data brea…
Why does your World Cup pint cost so much this time round?
World Cup viewing in UK pubs is becoming expensive. Landlords across the country face higher operating costs that force them to raise prices on drinks…
Dozens of crisis payments handed out by council
A local council has distributed dozens of emergency financial payments to households struggling with soaring heating oil expenses. The assistance targ…
Mike Ashley's Frasers offers £1.73bn to buy all of Hugo Boss
Mike Ashley's Frasers Group has launched a £1.73 billion takeover bid for Hugo Boss, moving to acquire the remaining shares of the German fashion bran…
World Cup expected to be the biggest betting event in history
Sports betting operators brace for record wagers on the expanded 2026 FIFA World Cup, with the tournament's enlarged format driving unprecedented bett…
'A little goes a long way': New York's candy stores sweeten economic gloom
New York's candy stores are bucking national consumer sentiment by expanding operations despite historic lows in US consumer confidence. The retail se…
Why does Amazon have no Western rivals?
Amazon's dominance in e-commerce spans continents. The Seattle-based company controls roughly 40 percent of U.S. e-commerce sales and wields comparabl…
Parents find lifeline in 50p kids' clothes shop
Families across the UK are flocking to budget second-hand clothing shops, with one 50p kids' wear retailer reporting surging footfall as households ti…
Raspberry Pi raises profit forecast as AI demand grows
Raspberry Pi has raised its profit forecast for the first half of 2026, now expecting adjusted earnings of at least $38 million. The UK-based computin…
The ancient trick making food waste useful and tasty
Fermentation is transforming food industry waste into profitable products with real market demand. Byproducts that once landed in landfills, rice bran…
'Six eggs used to be £1' - why everyday essentials cost so much more now
UK supermarket eggs have become a flashpoint for consumer frustration over inflation. Six eggs that cost £1 in 2022 now run significantly higher, driv…
Love factually: Dating start-ups promise to cut the cheats
Dating app startups are launching verification-heavy platforms to combat the epidemic of fake profiles that plague mainstream services like Tinder and…
Robo-top: The machines that could make your next t-shirt
Automation technology is poised to reshape garment manufacturing by bringing textile production back to Western nations. Advanced robotics and AI-driv…
Illegal mini-marts to shut for up to 12 months under law change prompted by BBC
England and Wales toughened enforcement against illegal mini-marts with a law change that extends shop closure orders from six months to 12 months. Th…
World's largest chipmaker does not rule out price rises as costs increase
Taiwan Semiconductor Manufacturing Company, the world's largest contract chipmaker, is not ruling out price increases as production costs climb. The r…
Bill debt soars but many don't know help is available
Millions of households face mounting utility bills without realizing assistance programs exist to offset costs. The spending watchdog found that the m…
Beauty Pie LED mask ad banned over misleading anti-wrinkle claim
The UK's Advertising Standards Authority banned a Beauty Pie LED mask advertisement for making unsubstantiated anti-wrinkle claims. The company claime…
Kalshi to make some users reveal job details to tackle insider trading
Kalshi, the New York-based prediction market platform, is tightening user verification to combat insider trading. The platform will now require certai…