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Philip Morris uses secret Senate hearing to warn illegal tobacco in Australia could wipe out legal trade by 2030
Company pushes for lower excise and claims threats warrant secrecy, while critics say it has ‘no interest in public health or safety’Get our breaking news email, free app or daily news podcastTobacco giant Philip Morris told a secret Senate hearing that soaring trade in illegal cigarettes would wipe out legal products in Australia as soon as 2030, claiming executives’ identities should be kept secret because of threats from organised crime.Labor criticised Coalition MPs for allowing the company...
‘It’s quite distressing’: rate rise brings new pain for would-be homebuyers
Property prices are still rising at the entry level and as borrowing costs increase, the home ownership dream is even further out of reach The third Reserve Bank rate hike in a row has delivered a blow not only to mortgaged homeowners, but also to those hoping to break into the property market like Dani Hunterford and her husband.They have been saving for a deposit but have been left frustrated as another rate hike appears to put their homeowning dream out of reach again. Continue reading...
UK homebuyers face worst mortgage affordability since 2008, data shows
‘Least affordable’ areas mainly in London commuter belt, UK Finance finds, with Iran war not yet reflected in dataBusiness live – latest updatesUK homebuyers are facing the worst mortgage affordability pressures for almost two decades, although the “pain” is not being felt equally across the country, according to industry data.The banking body UK Finance said that at a nationwide level, initial mortgage repayments were typically swallowing up more than a fifth (21.3%) of a homebuyer’s gross inco...
UK borrowing costs hit highest level since 1998 as Rachel Reeves faces pressure over Britain's mounting debt
Britain's long-term Government borrowing costs surged to their highest level in nearly three decades on Tuesday afternoon, as fears surrounding the Iran conflict continued to unsettle financial markets.The yield on 30-year gilts climbed by 0.14 percentage points to 5.798 per cent, marking the highest level recorded since 1998.Shorter-term debt also came under pressure, with 10-year gilt yields rising by 0.15 percentage points to 5.122 per cent, although this remains below peaks recorded last mon...
A Climate Activist Wants to Run California. Coal Helped Fuel His Wealth.
Questions linger about the finances of Tom Steyer, who has emerged as a leading contender in the California governor’s race. He says he has asked that his money be separated from fossil fuel investments.
Elon Musk to Pay $1.5 Million to Settle SEC Lawsuit Alleging He Failed to Disclose Twitter Share Purchases Ahead of Acquisition
Tech mogul Elon Musk, the world’s wealthiest individual with a net worth currently estimated at $659 billion, agreed to pay $1.5 million to settle an SEC lawsuit accusing him of failing to properly disclose stock he was amassing in Twitter in violation of securities laws. Musk consented to the settlement “without admitting or denying the […]
America is falling apart: It will cost $1 trillion to fix the nation’s potholes and crumbling infrastructure
NewsWorldAmericasAmerica is falling apart: It will cost $1 trillion to fix the nation’s potholes and crumbling infrastructureMany aging structures, from roads to bridges and buildings, remain in use despite being past their prime, according to a new study Isabel Keane in New York Tuesday 05 May 2026 15:32 BSTBookmarkCommentsGo to commentsBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","re...
Serbia, Russia keep high trade turnover — minister
According to Nenad Popovic, Belgrade and Moscow set the goal of reaching the 2022 trade turnover level standing at $4.3 bln during the next five years
ISM Services Prices Paid Unchanged as US Job Openings Fall Slightly
US job openings were little changed in March, with available positions falling slightly to 6.87 million from a revised 6.92 million in February. Mike McKee reports on "Bloomberg Open Interest." (Source: Bloomberg)
Nissan to close UK line and cut 900 European jobs
Nissan to close UK line and cut 900 European jobs17 minutes agoShareSaveAdd as preferred on GoogleJonny ManningNorth East and CumbriaReutersNissan is planning to merge two of its production lines at its Sunderland plantCar manufacturer Nissan has announced it will be closing one of its UK production lines and will be cutting 900 jobs in Europe.The company confirmed it would be merging two of its lines in its Sunderland plant, but said no jobs would lost through the production change.However, the...
8th Pay Commission: ₹52600 बेसिक सैलरी... 5 फिटमेंट फैक्टर, 8वें वेतन आयोग में बड़ा अपडेट
th Pay Commission
Fed’s Bowman Says Consumer Fraud Poses Risks to Financial System
The Federal Reserve’s top bank cop said that consumer fraud and scams pose increasing risks to the financial system, emphasizing that “nearly every fraud” affects a bank account or is tied to a payment that involves a bank account.
US Trade Deficit Widens in March to $60.3 Billion
The value of imports rose by 2.3% while exports increased 2% in March from the prior month. The trade gap now stands at $60.3 billion. Bloomberg's Michael McKee has the data breakdown. (Source: Bloomberg)
CopilotKit raises $27M to help devs deploy app-native AI agents
Many companies today provide AI simply as a chatbot inside their apps: you type in (or dictate) what you want it to do, and the AI bot goes and tries to do it. Still, the experience tends to feel clunky. A text-based UI doesn’t always translate to a smooth experience, for example, if you want to use a travel app to book an entire itinerary but have to scan through reams of text. According to the founders of CopilotKit, that approach doesn’t make the most of what AI agents and LLMs ca...
Kganyago Links ‘Surprisingly Resilient’ Rand to Dollar Mistrust
South African Reserve Bank Governor Lesetja Kganyago heralded the fortitude of the rand and other emerging-market currencies amid the Iran war, and said this could reflect a wider souring on US assets.
Lower earning self-employed people ‘particularly likely to miss tax deadline’
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For some older Americans, retirement today means unretiring
MoneyWatch For some older Americans, retirement today means unretiring .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Maya Blackstone, Kelly O'Grady May 5, 2026 / 10:02 AM EDT / MoneyWatch Add CBS News on Google On weekday mornings, Myndie Friedman is out the door just as the sun rises over the Atlantic Ocean, a block from her home in Long Beach, New York. Friedman's first stop is a 7:30 a.m. bus, which she takes to a local train stat...
Pakistan misses $8bn SEZ investment, 500,000-job targets: minister
ISLAMABAD: Pakistan’s quest to attract over $8 billion in foreign direct investment (FDI) in Special Economic Zones (SEZs), and to generate 500,000 jobs between 2018 and 2024, remained well below the target, according to the investment minister. As of 2025, only four SEZs have advanced beyond the planning stage with partial implementation, Investment Minister Qaiser Ahmed Sheikh said on Tuesday. Speaking at the ‘Pakistan-China Industrialisation Dialogue’ in Islamabad, the minister explained that...
Portugal Set to Propose New Windfall Tax on Energy Firms
Portuguese Finance Minister Joaquim Miranda Sarmento said his government plans to move ahead with a proposal to impose a tax on energy companies’ windfall profits, drawing on measures used during the 2022 fuel price crisis.
Britain's 'staggering' cost of foreign nationals in UK prisons torn apart by ex-prison governor
The cost of Britain's prisons holding foreign criminals has been branded "staggering" by an ex-prison governor.Speaking to GB News, Reform UK's Prisons Advisor Vanessa Frake urged the Labour Government to "persuade countries" to take their criminals back.A GB News exclusive investigation found the annual bill for incarcerating foreign offenders has reached a total of £629,408,766.Out of the 87,342 prisoners held in British prisons across England and Wales, 10,487 are foreign nationals. TRENDING...