BUSINESS
Short-staffed school districts are hiring students to serve lunch and answer phones
As the nation’s labor crunch hits public education, some administrators say student-employment programs can open up career paths. Skeptics worry teens aren’t well served by the initiatives. While her peers study civics or economics in class, Saniyya Boykin, a 17-year old senior at Camden High School in Camden, South Carolina, preps food for the next […]
Federal Reserve chair Jerome Powell sees inflation battle lasting ‘some time,’ warns of economic pain
“These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain,” Powell said. JACKSON HOLE, Wyo. — The U.S. economy will need tight monetary policy “for some time” before inflation is under control, Federal Reserve Chair Jerome Powell said on Friday in remarks that warned of […]
What to do with clothes you no longer wear
Model Ellie Jolliffe says she was shocked at the amount of waste she saw when working on modelling jobs, in particular for e-commerce companies. “I’ve been on shoots where there are boxes and boxes of deadstock – clothes which are no longer on sale. They’ve never been worn. No-one wants to buy them. Tonnes of […]
How much grain is being shipped from Ukraine?
Over half a million tonnes of wheat and other types of food have been shipped from Ukraine’s ports in the past month, says the United Nations. On 22 July, Russia lifted its blockade of the ports, allowing ships to use a safe corridor through the Black Sea. However, Ukraine is only exporting grain at half […]
Cineworld shares plunge on bankruptcy fears
Shares in Cineworld have fallen more than 60% as concerns mount that the world’s second largest cinema chain is about to file for bankruptcy. The company, which also owns the Picturehouse chain in the UK, is struggling under $5bn worth of debt. Like other cinema chains, Cineworld was hit hard by the pandemic. Cineworld recently […]
Social Security recipients are set to receive a major increase in monthly benefits
The Social Security Administration’s annual cost of living adjustment is based on inflation readings, and inflation has seen 40-year highs for months. Social Security recipients struggling with higher inflation are likely to get a major boost in their monthly benefits starting next year. Thanks to the high inflation reading for July, beneficiaries could receive as much […]
How science is making chocolate taste even better
Luisa Vicinanza-Bedi is an artisan chocolate maker in Nottingham and founder of Luisa’s Vegan Chocolates. “I’ve always had a love for chocolate, but when I discovered all the tastes and nuances of single-origin chocolate – the incredible flavour notes, like a fine wine – my eyes were opened,” she says. Much of the chocolate we […]
Arabs believe economy is weak under democracy
Arabs are losing faith in democracy to deliver economic stability across the Middle East and North Africa, according to a major new survey. Nearly 23,000 people were interviewed across nine countries and the Palestinian territories for BBC News Arabic by the Arab Barometer network. Most agreed with the statement that an economy is weak under […]
UK economic outlook has deteriorated, Bank of England warns
The economic outlook for the UK and the rest of the world has “deteriorated materially”, the Bank of England has warned. Energy and fuel costs are rising rapidly around the world, pushing up prices in general more quickly. However, UK banks are in a position to weather even a severe economic downturn, the Bank said. […]
Norway calls off gas strikes that risked UK supply
Strikes which threatened to cut off most of the UK’s gas imports from Norway have been called off. The Norwegian labour ministry confirmed it had stepped in to end industrial action set for later this week. “Workers are going back to work as soon as possible. We are cancelling the planned escalation,” Lederne union leader […]
British Airways cancels 1,500 more flights
British Airways has cancelled a further 1,500 flights, mostly for July. The wave of cancellations made over the past weeks will affect tens of thousands hoping to jet off this summer from Heathrow and Gatwick. The industry has been struggling with staff shortages as demand for air travel rebounds. British Airways had already removed 10% […]
Pilots’ strike pushes SAS airline into bankruptcy move
Scandinavian airline SAS has filed for bankruptcy protection in the US as a strike by its pilots added to its financial problems. The move will allow the carrier to continue operating, although the strike has grounded about half its flights. SAS said the industrial action meant the airline had brought forward plans to restructure its […]
Sri Lanka: ‘I can’t afford milk for my babies’
The smell hits you first – freshly cooked rice, lentils and spinach, served in ladles from steaming pots. Dozens of families – including mothers with babies – are lined up with plates to get a serving of what will likely be their only meal for the day. “We are here because we are hungry,” says […]
Missing cryptoqueen: Is Dr Ruja Ignatova the biggest Bitcoin holder?
With cryptomarkets in turmoil, files seen by the BBC suggest an unlikely Bitcoin investor may have also lost a fortune – “the missing cryptoqueen”, Dr Ruja Ignatova. The scammer disappeared in 2017 as her cryptocurrency OneCoin was at its height – attracting billions from investors. Fraud and money-laundering charges in the US have led to her becoming […]
UK and New Zealand expand working holiday visas
The UK and New Zealand will allow more younger people to live and work in both countries for longer. UK Prime Minister Boris Johnson and his Kiwi counterpart Jacinda Ardern agreed to extend the Youth Mobility and Working Holiday schemes. The age limit for applicants will go up from 30 to 35, and the maximum […]
Russia moves to take control of Sakhalin-2 oil and gas project
Russia has moved to take over a major oil and gas project in which Shell has a 27.5% stake. Russian President Vladimir Putin signed a decree on Thursday to take charge of the Sakhalin-2 project. The move could force Shell and Japan’s Mitsui and Mitsubishi to abandon their investments as the economic fallout of the […]
Brazil: Rio’s residents garden their way out of hunger
Not too long ago, Fernanda da Silva was going hungry, like millions of other Brazilians. The 40-year-old mother of three was out of work and money was tight. Her husband’s monthly earnings as a doorman – 1,300 reais ($250), just over a minimum salary – kept their family afloat. “It was really difficult for us,” […]
Hong Kong: Xi Jinping defends China’s rule at handover anniversary
China’s “one country two systems” model of ruling Hong Kong has worked in protecting the city and must continue long term, says Xi Jinping. The Chinese leader mounted a stern defence of the political system in a speech in Hong Kong, following recent international criticism. Hong Kong is marking 25 years since Britain returned the […]
John Lee: Who is Hong Kong’s new hardline pro-Beijing leader?
Former security chief John Lee Ka-chiu has been sworn in as Hong Kong’s next leader, in what is widely seen as a move by the Chinese government to tighten its grip on the city. He is replacing Carrie Lam following the city’s chief executive election in May – in which he was the sole candidate. […]
How flowers are ‘put to sleep’ for long sea voyages
Workers in heavy coats shift boxes of flowers from a cold store into a refrigerated container. Once packed, these blooms will travel hundreds of miles by road, in a special ‘controlled atmosphere’ container from Nairobi to the coast. On arrival at Kenya’s biggest seaport, Mombasa, the container is loaded onto a ship for a voyage […]
Heathrow flight cancellations cause queues and ‘chaos’
Passengers have complained of queues and “total chaos” at Heathrow after the airport asked airlines to remove 30 flights from Thursday’s schedule. The UK’s largest airport asked airlines to cut the flights because it was expecting more passenger numbers than it can currently cope with. Some passengers did not know that their flights were cancelled […]
Sri Lanka fuel crisis: Waiting for days to get fuel
Being the first in the queue is usually a coveted spot, but Ajeewan Sadasivam has no idea how long he’ll be stuck in this one. “I’ve been in line for two days already,” he says, as he waits patiently outside a petrol station in the capital Colombo. As a taxi driver, fuel is his lifeblood, […]
Is Brexit adding to the UK’s energy crisis?
Up until now it has been difficult to pick out much difference between the UK’s economic numbers and those across Europe and the world. The size of the common global economic shocks from the pandemic and from Russia’s invasion of Ukraine has been the overwhelming driver of high inflation and slower growth for most European […]
Pride: Amazon restricts LGBT goods in United Arab Emirates
Online retail giant Amazon has restricted search results related to LGBT people and issues on its website in the United Arab Emirates (UAE). The firm took the step after reportedly coming under pressure from authorities in the Gulf state. Same-sex sexual relations are illegal in the UAE. Expressing support for LGBT rights could also be […]
Thousands of BT workers vote to strike over pay
Thousands of BT workers have voted to go on strike in a dispute over pay. Some 30,000 Openreach engineers and 9,000 BT call centre workers were balloted and overwhelmingly backed industrial action, the Communication Workers Union (CWU) said. General secretary Dave Ward said BT now faced its first national strike since it was privatised in […]
Hello Kitty firm strikes China deal after viral hit
The Japanese company behind the Hello Kitty brand has struck a licensing deal in China after one of its lesser-known characters went viral in the country. Sanrio says a unit of e-commerce giant Alibaba will have exclusive rights in China to make and sell merchandise of its 26 characters. The deal comes after Sanrio’s imp-like […]
International headwinds offset Thai economy’s gains
Despite the fast-rising inflation driven largely by food and energy costs, some economic research houses have recently revised upward or at least maintained their economic growth projections for Thailand for the year. Siam Commercial Bank’s Economic Intelligence Center (EIC) recently revised upward its economic growth forecast to 2.9 percent this year, up slightly from the […]
Heathrow Airport announces more flight cancellations
Heathrow Airport has asked airlines to remove 30 flights from Thursday morning’s schedule because it is expecting more passenger numbers than it can currently cope with. In total, 1,200 flights were scheduled to leave throughout the day. The airport claims the cancellations are necessary for both safety and to ensure as many passengers as possible […]
Steel import tariffs extended for two years
Tariffs on steel imports that were due to expire will be retained for a further two years, the government said. International Trade Secretary Anne-Marie Trevelyan said the plans departed from the UK’s “international legal obligations” but was in the “national interest” to protect steel makers. She added the decision was made due to “global disruptions” […]
Why business is still optimistic about Hong Kong
On a cloudy June day, the Jumbo Floating Restaurant was towed out of Hong Kong’s Aberdeen harbour. The giant six-storey structure – in the shape of a Chinese imperial palace – crept past yachts a fraction of its size earlier this month before a foghorn signalled its entry into the open sea. The mega restaurant, […]
Hajj travellers unable to fly due to ticket delay
Some British Muslims who booked pilgrimages to Mecca have been unable to board a flight as problems with a new Saudi registration system continue. About a dozen people were told they could not fly from Manchester on Saturday as e-tickets covering flights and the Hajj were not issued in time, the Council of British Hajjis said. […]
Royal Mail workers to vote on strike over pay
More than 115,000 Royal Mail workers will begin voting today over whether to go on strike over pay. Ballot papers will be dispatched to the Communication Workers Union (CWU) members, with the result on 19 July. Should workers vote in favour of industrial action, the CWU said it could amount to the biggest ever strike […]
Credit Suisse bank found guilty over money laundering charges
Credit Suisse has been found guilty and fined for involvement in money laundering related to a Bulgarian drugs ring. Switzerland’s criminal court found that the bank did not do enough to prevent members of the crime syndicate from profiting off the trafficking of cocaine in to Europe. It was fined around £1.7m and ordered to […]
Sainsbury’s pressed to pay more to subcontracted workers
Pressure is mounting on Sainsbury’s to ensure all its workers are paid the real living wage. Sainsbury’s already pays its direct employees more than the rate set by the Living Wage Foundation, which is higher than the government-set minimum wage. But some investors are calling for it to sign up to the Living Wage Foundation’s […]
Roe v Wade: US firms pledge to pay staff travel expenses for abortions
Major companies including Disney, JP Morgan and Facebook owner Meta have told staff they will cover employee travel expenses for abortions, as millions of US women face restricted access. It follows a landmark ruling by the US Supreme Court that overturned the constitutional right to abortion. The judgement paves the way for individual states to […]
Could flat tyres soon be a thing of the past?
The sight of a car limping along on a near-flat tyre, or a roadside wheel change are still common. So is the expense of replacing tyres that have worn out prematurely, perhaps because the driver may not have been checking the pressure as regularly as they should. Sometimes it’s difficult not to feel tyres are […]
Ukraine war: UK joins ban on imports of Russian gold
The UK, US, Canada and Japan will ban imports of Russian gold in an effort to hit Moscow’s ability to fund the war in Ukraine. The UK PM said the move would “strike at the heart of Putin’s war machine”. Gold exports were worth £12.6bn ($15.4bn) to Russia in 2021, and the UK says their […]
Boris Johnson ‘actively thinking about’ third term as PM
Boris Johnson has said he is “actively thinking” about a third term, amid criticism of his leadership. The prime minister was asked if he would like to serve a full second term in office – to 2028 or 2029. “At the moment I’m thinking actively about the third term and what could happen then, but […]
Why the Ukraine war may power Asia’s green energy shift
For years there have been calls for Asia – which is home to some of the world’s biggest CO2 emitters – to ditch fossil fuels to help tackle climate change. Countries in the region – including its three biggest economies China, Japan and India – were criticised last year for not making a bigger commitment […]
Netflix cuts 300 more jobs after subscriptions fall
Netflix has announced another round of job cuts as it grapples with slowing growth and increased competition. The streaming giant said it was cutting 300 more jobs – roughly 4% of its workforce – mostly in the US, after axing 150 people in May. The moves come after the company reported its first subscriber loss in […]
Caviar sales soar as more people get a taste for posh fish eggs
When high-end restaurants around the globe had to close their doors during the Covid lockdowns, things didn’t look good for the world’s caviar producers. Add glitzy events being cancelled, and cruise liners not being able to leave port, and you might think that it spelled disaster for the sellers of wincingly expensive fish eggs. But […]
Nike latest brand to leave Russia permanently
Nike has announced plans to leave Russia, becoming the latest Western brand to quit the country since the invasion of Ukraine in February. The US sportswear giant halted online orders and closed the stores it owned in the country in March. Shops run by local partners continued to operate, but the firm is winding down […]
US parents turn to black market due to formula shortage
Mum Lauren Galvin needed to get extra milk into her baby. He was spitting up so much after nursing that he wasn’t gaining weight and had to be taken to hospital, twice. But, with the US in the grips of a severe national shortage of infant formula, she couldn’t find any to buy. So Lauren […]
Toyota recalls electric cars over concerns about loose wheels
Motor industry giant Toyota is recalling 2,700 of its first mass-produced all-electric vehicles over concerns their wheels may fall off. A spokesperson told the BBC that bolts on the bZ4X’s wheels “can loosen to the point where the wheel can detach from the vehicle” after “low-mileage use”. The recall comes less than two months after […]
Juul: US bans all products from leading vaping company
The US is banning the sale of all products sold by Juul, one of the country’s top e-cigarette companies. The Food and Drug Administration (FDA) said it did not have enough data to be sure that marketing the firm’s products was “appropriate for the protection of public health”. Juul said it would challenge the move. […]
Two killed as Nio electric car falls from third floor office in Shanghai
Chinese electric carmaker Nio says that two people were killed when one of its vehicles fell from the third floor of its headquarters in Shanghai. One member of staff and a person from a partner company died in the crash. The incident took place on Wednesday at around 17:20 local time, the firm said. The […]
The staff shortage slowing down air cargo and bags
When photos emerged of the largest cargo plane in the world reduced to a smouldering husk, at Hostomel airport in Ukraine, Dan Morgan-Evans recalled the many times his company had chartered it for urgent freight deliveries. That includes transporting personal protective equipment (PPE) and antigen tests during the pandemic – but also plastic Christmas trees, the […]
Union rejects Rolls-Royce £2,000 living-cost bonus
A union representing Rolls-Royce workers has rejected the offer of a £2,000 one-off payment from the firm to help its staff with the rising cost of living. Of the 14,000 staff at Rolls-Royce who were eligible for the payment, 11,000 members are unionised. Unite said the offer “falls far short of the real cost of […]
Inflation hits fresh 40-year high as cost of living crisis deepens
Fuel and food were among the biggest drivers of price growth across the economy UK inflation has hit a fresh 40 year high, climbing 9.1 per cent in the 12 months to May, up from 9 per cent in April. The ongoing surge is partly driven by energy costs, after an increase of £700 a-year […]
Netflix talks with Google about ads as Sarandos is set to address Cannes this week
CANNES, France – As the world’s biggest advertising conference gets underway here this week, all eyes will be on Netflix for clues on how the streaming giant plans to break from its ad-free business model to offer a cheaper subscription for the first time. Netflix Co-CEO Ted Sarandos is scheduled to cap off a week of panels […]