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Oil price dives as US and Iran pause attacks

BBC Business7/27/2026

Oil price dives as US and Iran pause attacks

Image source, Getty ImagesByNick EdserBusiness reporterPublished27 July 2026, 11:43 BSTUpdated 9 minutes agoThe price of oil has fallen sharply on hopes that a pause in attacks between the US and Iran could help lead to a resolution to the conflict. Brent crude, the global benchmark for oil, sank more than 9% to below $88 a barrel at one point, marking a sharp turnaround from last week when it had risen above $100. The fall came after the US ambassador to the UN said attacks on Iran had been halted for a second night in a row to give "talks some space". An Iranian army spokesperson said on Sunday that Tehran had halted "retaliatory" attacks in the region in response. The outbreak of the Iran war triggered a sharp rise in oil prices as the conflict led to the effective closure of the Strait of Hormuz, a key shipping route which usually carries about 20% of the world's oil and liquefied natural gas (LNG). When Iran and the US signed a memorandum of understanding in June to halt military operations and reopen the strait, the price of oil fell back to pre-war levels of around $70 a barrel. However, the collapse of the ceasefire earlier this month reignited fears over global energy supplies and pushed the oil price back up. Last week it hit $100 a barrel for the first time since May, with added concerns coming after Houthi militia in Yemen attacked oil tankers in the Red Sea, threatening a key export route that Saudi Arabia had used to bypass the Strait of Hormuz. Susannah Streeter, chief investment strategist at Wealth Club, said markets were remaining "cautious given the twists and turns during this conflict". Despite the sharp fall in crude, "there is still significant uncertainty baked into these prices and a reticence about whether negotiations will lead to a lasting breakthrough," she added. The conflict between the US and Iran - and its impact on oil - has pushed up the cost of fuel such as petrol and diesel in many countries. This often has knock-on effects on other prices, such as food, as businesses pass on the higher costs they are facing to customers, and this can push up the rate of inflation.

Chinese chipmaker shares surge nearly 470% in blockbuster stock market debut

BBC Business7/27/2026

Chinese chipmaker shares surge nearly 470% in blockbuster stock market debut

Image source, ReutersByPeter HoskinsBusiness reporterPublished27 July 2026, 05:25 BSTUpdated 1 hour agoShares in China's biggest memory chip maker have soared by nearly 470% as they made their debut on the Shanghai Stock Exchange's tech-heavy Star Market. The surge has pushed ChangXin Memory Technologies' (CXMT) stock market valuation to around 3.3 trillion yuan ($487bn; £365bn), making it the most valuable listed company in mainland China. The spectacular debut comes despite a sharp sell-off in technology stocks around the world this month. CXMT manufactures dynamic random-access memory (Dram) chips that power AI data centres, mobile phones, PCs, tablets and other devices. The firm, which was founded in 2016 by Chairman Zhu Yiming, is headquartered in Hefei, Anhui Province in eastern China. The company has said it plans to use most of the proceeds from the initial public offering (IPO) to boost production of memory chips and carry out more research and developments. The stellar performance of its IPO will offer some comfort to Chinese financial officials, who have been rolling out measures to help curb a stock market slump that wiped out more than $1.5tn in recent weeks. Analysts said the jump was also being driven by demand for the shares far outstripping supply. "The reason for the extraordinary bounce this morning is that only 7% of the shares are available for trading," Anna Macdonald, investment strategy director at Hargreaves Lansdown told the BBC's Today programme. It also highlights Chinese investors' strong appetite for a homegrown chipmaker, as the government in Beijing pushes ahead with plans to make its technology industry self-reliant. South Korean tech giants Samsung Electronics and SK Hynix and US-based Micron dominate the Dram market, with the three companies accounting for around 90% of global production. Earlier this month, SK Hynix raised $26.5bn (£19.8bn) in its New York share offering, marking the largest ever listing by a foreign firm in the US.

NBCUniversal and YouTube ink deal to embed Peacock in the video platform for premium subscribers

NBCUniversal and YouTube ink deal to embed Peacock in the video platform for premium subscribers

All of the streaming service's content — including NBC Sports' portfolio of the NFL and NBA, Universal films like the Minions franchise, and original Peacock and Bravo content like the Real Housewives franchise and "Love Island USA" — will be included in YouTube Premium subscriptions in the U.S. starting early next year. Google's YouTube Premium is the subscription version of the streaming platform that offers videos without ads and the ability to download most videos, depending on the subscription tier. The service offers a variety of plans beginning at $8.99 per month. Peacock Premium currently costs $10.99 per month. "The first principle for us was, does this accelerate Peacock's long-term growth? And the answer to that is yes," said Matt Strauss, chairman of NBCUniversal media group, in an interview. "Peacock will now be one of the largest domestic streamers. It's going to significantly expand our reach." NBCUniversal's partnership with YouTube was formed after Comcast co-CEO Brian Roberts reached out to YouTube CEO Neal Mohan about nine months ago, according to a person familiar with the matter. Following a meeting between the executive teams that took place at Google offices, the two companies began to brainstorm partnerships such as this, the person added. The partnership comes at a fast-moving moment in the industry. Traditional media companies like NBCUniversal, Warner Bros. Discovery and Disney have been chasing business initiatives to boost revenue and profitability while tech platforms like YouTube and TikTok grab increasing share of viewership time. Media companies have also been shapeshifting as the business model changes due to consumers' departure from pay-TV bundles in favor of streaming. Paramount Skydance has agreed to acquire WBD; Fox Corp. reached a deal to acquire Roku; and Comcast is preparing to spin off NBCUniversal in the next year. While streaming services have been announcing a growing slate of bundles to grab more subscribers, this partnership goes a step further and will see Peacock's content live inside YouTube — or be ingested into the platform so viewers don't have to leave YouTube to access the content. Peacock has already signed deals with other streaming and tech platforms including Apple and Amazon. During an earnings call with investors last week, Comcast co-CEO Mike Cavanagh said while other media companies have taken a so-called "walled garden" path with their content, NBCUniversal will continue to "look for opportunities to partner, bundle and exhibit other people's [intellectual property]" across its theme parks and media platforms. While NBCUniversal's announced spinout from Comcast has raised industry hopes for more mergers and acquisitions, Cavanagh and others have poured cold water on the notion, focusing on potential partnerships and bundles instead. YouTube has long been considered a dominant force in streaming, as it claims a large share of viewership time as showcased in Nielsen's monthly "The Gauge" report. So-called creator-made videos — a category that amasses millions of viewers on YouTube — are becoming more attractive to media companies like NBCUniversal as they chase reliable and dedicated audiences. The category even hit the stage at this year's annual Upfront advertising presentations.

JetBlue overhauls fare options, from basic first to flexible economy. Here's what to know

JetBlue overhauls fare options, from basic first to flexible economy. Here's what to know

JetBlue Airways is overhauling its fare options as it gears up to launch its domestic first-class seats and, yes, there is a restrictive basic option at the front of the plane. Travelers flying on JetBlue will start by choosing how much legroom they want and how premium they want their seat to be. The airline will have an economy section, or "Main," a section with extra legroom seats that it calls "Even More," which also come with earlier boarding and priority airport screening, and a domestic first class that it's named BlueFirst, which it's slated to debut later this year. From there, customers will have the following options for each class: With the new groupings, JetBlue is getting rid of the "Core" fares it sells now and putting economy class options in a "Main" category. JetBlue's lie-flat Mint business class, which is used on longer-haul flights like cross-country trips and flights to European destinations including Paris, London and Milan, will only have the Standard and Flex option. JetBlue stopped short of offering a basic lie-flat business option that competitors United Airlines and Delta Air Lines launched this year. Those airlines have made similar moves to break up premium economy by offering different fares even at the front of the cabin. United this month said that on some aircraft it will charge a premium for a blocked middle seat. JetBlue hasn't yet provided a date for its BlueFirst seats, but the changes come as airlines are racing to capitalize on high demand for pricier seats from consumers seeking extra comfort and perks on board. JetBlue is set to report results on Tuesday. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Chip firms fall in US and Asia as AI jitters rattle investors

BBC Business7/28/2026

Chip firms fall in US and Asia as AI jitters rattle investors

Image source, AFP via Getty ImagesByOsmond ChiaBusiness reporterPublished9 minutes agoShares in major chip firms have fallen sharply in the US and Asia as a sell-off in artificial intelligence-related stocks deepened. Trading on South Korea's benchmark Kospi index was paused temporarily on Tuesday morning after sliding by 8%. It fell further after the 20-minute halt was lifted to trade around 10% lower. The slump was led by technology firms, with Samsung Electronics and SK Hynix both falling by more than 10%. It comes after AI chip giant Nvidia fell by 5% in New York on Monday, meaning it lost its position as the world's most valuable listed company to Apple. The tech-heavy Kospi has been halted eight times so far this year under a stock market mechanism known as a circuit breaker, which is designed to calm panic selling. The index had more than doubled from the start of the year to mid-June but has since lost around a third of its value. In recent months, stock market trading has been particularly volatile in South Korea as it has attracted large numbers of retail investors. On Monday, US-listed shares in SK Hynix fell by 7.5% to well below the $149 offer price when it made a record-breaking debut on the Nasdaq on 9 July. Japan's Nikkei 225, which is also dominated by tech companies, was almost 4.5% lower on Tuesday morning. Nvidia shares fell on Monday after the Wall Street Journal reported that it is in talks to provide around $250bn for OpenAI as part of a massive data-centre project. The decline allowed Apple to overtake Nvidia as the world's most valuable company after the iPhone maker rose by about 25% this year. As governments and companies spend hundreds of billions of dollars on developing AI capabilities, some analysts have questioned whether the technology can become profitable enough to recoup such huge investments.

Burnham says pupils in England need clearer pathway into work

BBC Business7/28/2026

Burnham says pupils in England need clearer pathway into work

Image source, Getty ImagesByBranwen Jeffreys, Education Editor, Nathan Standley, Education reporter and Toby MannPublished27 July 2026Updated 1 hour agoChildren should be given a clearer pathway into work from the age of 14, Prime Minister Andy Burnham has said as he unveils reforms that will allow pupils in England to study subjects like manufacturing and AI alongside core academic learning. The government said the courses, available from Year 10, would be linked to local jobs and industries. Data published earlier this year showed more than one million young people across the UK were not in education, employment or training, or "Neet" - the highest level in more than 12 years. While the government is describing it as a "fundamental change to the education system", there are few details behind the broad political vision. The Association of School and College Leaders, which speaks for many secondary headteachers, said they welcomed the ambition of preventing young people falling out of education or work at 16. With schools already asked to manage on tight budgets and support radical reforms to special educational needs, the union also said there was an issue of capacity. Burnham said that "for too long" students had been told to take academic subjects to "do well and be respected". "My message to young people is this - whether you choose construction, coding or classics, or maths, manufacturing or mechanics, you'll get the skills you need and be given the respect you deserve," he said. The government, he added, was delivering the "major shake-up" required to fix the youth unemployment crisis in Britain, starting with improving the availability and quality of technical education. Pupils, the government said, would be able to combine subjects such as English and maths with high-quality technical education linked to the jobs available in their area. "They will be able to spend time with employers and gain real-world experience," it said. In an Op Ed piece for the Times, external, Burnham wrote: "In the age of AI, practical and technical skills haven't become less valuable - they've become more valuable than ever. Britain will need brilliant engineers, electricians and cybersecurity experts more than ever before."

Consolidated food supply may be worsening cyclospora outbreaks, experts say

Consolidated food supply may be worsening cyclospora outbreaks, experts say

The cyclospora outbreak that has sickened thousands in the U.S. is drawing renewed attention to a decades-long shift in how fresh food moves through the country. While investigators work to identify the original source of contamination, some food safety experts say the industry's centralized sourcing and distribution networks after a wave of consolidation can help turn what once may have been an isolated contamination event into a multistate outbreak. "The general trends that have taken place in the food industry, the way in which food has been sourced and then distributed has played some role here," said Dr. David Relman, a professor of microbiology and immunology at Stanford University. The cyclospora parasite's long incubation period, the difficulty in tracking its path and what some experts have criticized as a bumpy federal response have all played a role in the widening outbreak. Some experts say the structure of the food system has also contributed. "It's possible that as food sourcing and distribution becomes consolidated you get pooling and then redistribution of what might have been a very local contamination problem, so that it now becomes a widely distributed contamination problem," Relman said. Marion Nestle, professor emerita of nutrition, food studies and public health at New York University, said the shrinking of the industry has amplified the consequences when contamination occurs. "Consolidation means that if something goes wrong, it goes wrong big time," Nestle said. The current FDA investigation around cyclosporiasis has focused on shredded iceberg lettuce distributed through Taylor Farms' foodservice business, an ingredient that reached Taco Bell restaurants and other foodservice customers across multiple states. Relman referenced bagged lettuce as one example of how changes in distribution could spread a foodborne illness. "Think of the difference between one head of lettuce and a bag of chopped lettuce that may have come from many, many heads," he said. "These bags are now being produced in huge numbers and distributed in far-flung distribution networks." The industry's evolution toward fewer distributors has been driven in part by a push for efficiency. Nestle said those improvements for businesses come with trade-offs for food safety. "Big is not necessarily better," she said. "The bigger the supplier, the greater the opportunity for contamination."

Is it time to stop using glue and labels on paper?

BBC Business7/27/2026

Is it time to stop using glue and labels on paper?

While paper or cardboard packaging might on its own be recyclable, the presence of a label, a seal or a coating can negate that. That's because non-recyclable adhesives, or "stickies" as they are known as in the industry, can cause damage to recycling machinery, make the resulting batch of recycled paper inferior, or even cause a batch of paper to be recycled to be rejected, according to scientists, external at NC State University. And that's a shame as paper is one of the most recycled materials in Europe - with around 74% of paper and board consumed in 2024 being recycled. In August, a new Europe-wide packaging, external and packaging waste regulation (PPWR) kicks in ordering that all packaging should be minimum 70% recyclable by 2030, rising to 80% from 2038. In addition, German law will also, external require stricter reporting and licensing fees. So, tackling stickies would be helpful. One solution has been to develop water soluble adhesives, external. That's the idea that three firms from Germany - Fraunhofer, Hermann Ultraschall, and Henkel - have come up with. It's no coincidence they are all German, as the country is known for its Packaging Valley, external, a hub for the packaging industry. Their efforts to innovate are partly a bid to satisfy ever tightening regulation around commercial recycling, and rising fines for those who fall foul. With that in mind, German research organisation Fraunhofer established the PAPURE project in 2023 to develop a laser-based heating process that can seal paper packaging without an adhesive at all. From September, when the project is set to officially close, Fraunhofer hopes to find an industry partner to take the technology to market. Fraunhofer researchers exhibited their work at the Interpack packaging trade show in Dusseldorf in May, and are hopeful that the interest they attracted will come to fruition. "There are not really many paper sealing technologies without any foreign materials, so it's a great technology and we feel it's likely that we can bring it to market," says researcher group leader Fabian Kayatz. Also in 2023, engineering firm Hermann Ultraschall bought the rights to develop a patented ultrasonic paper sealing technology, a process which it likens to welding.