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Aluminum Squeeze Deepens as Spreads Tighten and Inventories Drop
The aluminum market is facing a deepening shortage as the closure of the Strait of Hormuz throttles supply, with spot prices for the metal spiking while exchange inventories slump.
UAE wins first Global Growth Leaders 2026 rankings - Emirates 24|7
UAE wins first Global Growth Leaders 2026 rankings Emirates 24|7
IFF Enters Into Agreement to Sell Its Food Ingredients Business to CVC
IFF (NYSE: IFF), a global leader in flavors, fragrances, food ingredients, and health and biosciences, today announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a leading global private markets manager, in a transaction that values the business at approximately $4.3 billion, representing an enterprise value-to-EBITDA multiple of approximately 10x. As part of the transaction, IFF has chosen to retain an approximately 10%...
I’m 67 and being bankrupted by the summer single tax
Here we go again. Families, families, families. The Government’s Great British Summer Savings drive, aimed at… yes, families and kids. Whoopee! The country’s procreators par excellence will be able to enjoy cheaper children’s meals in restaurants, tickets to cinemas and theatres, and entry to a whole host of other attractions when, over the summer, VAT will temporarily be cut to help reduce the cost of days out. But not for me – again. A single pensioner who benefits from nothing other than a...
Zurich Bank Looks to Brazil, Florida as It Expands in Americas
EFG International AG, a private-banking boutique based in Zurich, is expanding its 300-person team serving clients from the Americas with an emphasis on Brazil and South Florida.
We earn £75,000 – but can only afford to save £20 a month
The average UK household is spending nearly £119 per week on food shopping, amounting to more than £6,000 per year, and for families with children, the cost can increase to £170 weekly. The rising prices mean many people have had to make sacrifices and 61 per cent of adults claim they’ve had to cut back on buying certain items, and more than two in five claim the cost of food has affected their ability to save. In a new series, The i Paper asks families how they budget their weekly food shop. T...
Top UK chefs call for 10% VAT cut for pubs and restaurants
Tom Kerridge, Yotam Ottolenghi, Ravneet Gill and Simon Rogan told BBC Newsnight VAT should be slashed to 10% to ease mounting pressure on the hospitality industry.
IndiGo Posts Unexpected Loss as Mideast Turmoil Lifts Costs
IndiGo, Asia’s largest low-cost carrier, reported an unexpected quarterly loss, amid cost pressures, operational disruptions and softer demand linked to the Middle East conflict.
Indonesia and India Intervene to Prop Up Weakening Currencies
Indonesia and India intervened on Friday to prop up their currencies, which are being pressured by an energy price spike.
Bank of England’s Bailey: Interest rates hike may not be needed
The Bank of England may not raise interest rates in response to the Iran war and has already effectively tightened monetary policy by taking the prospect of future rate cuts off the table, governor Andrew Bailey has said. In a speech in Iceland, the central banking chief said that inflation is “likely to go higher” as a result of the conflict in the Middle East but that the rate-setting Monetary Policy Committee (MPC) could ignore those higher prices if they do not filter through into wage b...
Class Action Claims Administrator Agrees To Stop Taking Vendor Rebates After Kickback Scrutiny
Amid criticism that claims administrators have secretly profited from class action payouts, Philadelphia-based Angeion agreed not to accept rebates from prepaid card issuers, banks or other vendors in a Kansas City data breach case.
Fed’s Schmid Says Officials Must Signal Commitment to Inflation
Federal Reserve Bank of Kansas City President Jeff Schmid said he remained focused on elevated inflation and officials should make it clear they’re willing to do what is needed to achieve price stability.
Extra bank holiday for millions next month
Extra bank holiday for millions next monthBuckingham Palace has confirmed the news Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Kate Lally 11:21, Fri, May 29, 2026 Updated: 11:28, Fri, May 29, 2026 Here's who could get the day off work and school (Image: georgeclerk via Getty Images)Millions of people are set to enjoy an extra bank holiday next month, just days after the 2026 World Cup kicks off. window...
Energy bills to go up for Power NI and Firmus customers
Both suppliers have said the increase is due to higher global energy and gas prices.
Italy’s Growth Was Robust at Start of 2026 in Surprise Revision
Italy’s economy grew more than initially estimated at the start of 2026, keeping up momentum from last year before the shock of the Iran war impacted growth.
BOE May Bear Temporary Above-Target Inflation to Support UK, Bailey Says
The Bank of England could temporarily tolerate inflation staying above its 2% target in order to support the UK’s weak economy, Governor Andrew Bailey said, so long as second-round price effects do not emerge. “Given the context of softness in the real economy and uncertainty around the scale and duration of the shock, tolerating temporarily above-target inflation to provide some support for the real economy is an appropriate way to approach the trade-off,” Bailey said at an economic conference...
Reeves’ savings package to have minimal impact on inflation rise
A discount campaign launched by Chancellor Rachel Reeves will “shave off” an expected rise in inflation, analysis has suggested, as economists have raised concern over Britons’ inflation expectations. Reeves’ move to delay a hike in fuel duty beyond September and offer VAT relief for businesses giving families reduced prices could strip 0.2 percentage points off CPI inflation, according to JP Morgan. The analysis suggests that two-thirds of the £300m package would pass through to lower pr...
Japan Used Record $73.6 Billion to Support Yen in Past Month
Japan spent a record ¥11.73 trillion ($73.6 billion) over the past month to support the yen after the currency slid past 160 per dollar, according to Finance Ministry data confirming the government’s first market intervention since 2024.
Why I’m grateful to the Pope for his encyclical on AI | Francine Prose
The intelligent and thoughtful encyclical is an important warning of the uses and misuses of a rapidly developing technology. Silicon Valley is wrong to dismiss itOften I’m asked if I think that the novels of the future will all be written by AI. It’s not so much a question as a provocation. Do I worry that a machine can do what I do, only better? I usually say something like: “No algorithm is going to write Anna Karenina!” which is also not a real answer.So I’m grateful to Pope Leo XIV, the Ame...
'Best' independent UK brewery sinks into liquidation – founded in 2018
'Best' independent UK brewery sinks into liquidation – founded in 2018The brewery had made popular small-batch craft beers in Scotland. Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Sarah Barltrop 10:58, Fri, May 29, 2026 Updated: 10:59, Fri, May 29, 2026 A brewery has plunged into liquidation (Image: Getty)A Glasgow brewery founded in 2018 has plunged into liquidation after being wound up earlier this y...