Europe
BBC Business

Bill debt soars but many don't know help is available

Billions of pounds are owed to water, broadband, and energy companies by customers - the majority of whom are unaware that support is available. More than £7bn in bills and charges was owed by March last year, the UK's spending watchdog said, but estimates suggest that total has grown since. One pensioner told the BBC the credit on her energy meter often ran out three or four days before she received her pension, but she said her energy supplier had been helpful after she let them know she was struggling. Most people did not know repayment plans and cheaper social tariffs were available to those in debt, the National Audit Office (NAO) said. Only a third of eligible broadband customers and 39% of water customers who were struggling to pay their bills were aware of social tariffs, the NAO added. These are generally discounted packages on essential bills, such as water, energy and broadband, often available to people on benefits or who are struggling to pay. They can vary between suppliers. The NAO said energy customers on repayment plans owed £1,000 less on average than those in debt who were without. "Regulators have made progress to support consumers, but they're not keeping up with the pressure now facing millions of households," said Gareth Davies, head of the NAO. "With debt rising sharply, it's more important than ever to make regulation work so that people know what support is available and can contact essential providers when they need to." Its report looked at the work of the three regulators in these sectors – Ofgem, Ofcom, and Ofwat. The watchdog said household energy debt had jumped following Russia's invasion of Ukraine, rising by 118% since 2021. It said regulators could still improve how they identified vulnerable customers and promoted the support available.

Bill debt soars but many don't know help is available
Europe
BBC Business

Illegal mini-marts to shut for up to 12 months under law change prompted by BBC

Illegal mini-marts, barbers and vape shops could be shut for up to a year under new powers announced by the government, following lengthy investigative reporting by BBC News into organised crime on British high streets. We have exposed drug gangs, child sexual exploitation, money laundering and immigration crime linked to shops selling illegal cigarettes, vapes and drugs. As the law stands in England and Wales, authorities can only close a shop for three months, with an option to extend closure to six months using anti-social behaviour legislation. The government's planned change will double the potential closure time. Making the announcement, Home Secretary Shabana Mahmood praised the BBC's reporting, saying that people felt high streets were being taken over by "organised crime [and] immigration criminality". The government was "not prepared to tolerate it", she said. This type of criminality "makes people lose faith, not just in their local area but in democracy, in what our country is, and we can't let that happen", she added. The Home Office says the extended closures will give investigators more time to gather evidence, pursue prosecutions and identify business owners, while preventing rogue operators from simply reopening and resuming illegal activity. The news has been welcomed by Trading Standards officers, who have repeatedly told us they lack the necessary powers to tackle the problem. "Closure orders are a key enforcement tool... for tackling 'dodgy shops'" says John Herriman, chief executive of the Chartered Trading Standards Institute (CTSI). There is "almost universal support" from his profession for the new measures, he adds. Other Trading Standards officers told us it would become less financially viable for unscrupulous business owners to simply sit out closure orders, and it would force landlords to pay more attention to who they are renting to. For nine months, we have repeatedly asked the home secretary for an interview to discuss what we had found. Last week, we were invited to join Mahmood on police raids of mini-marts on Soho Road in the Handsworth area of Birmingham - a high street bordering her own constituency.

Illegal mini-marts to shut for up to 12 months under law change prompted by BBC
North America
CNBC Finance

Rivian is betting on its R2 EV to turn the automaker into a household name like Tesla

The company founder moves quickly from the EV's suspension and software systems to different models of the R2 that will soon begin to reach American consumers, including a roughly $45,000 entry-level model that Rivian said Tuesday is being pulled ahead from late 2027 to next summer. But there's an anxiousness in Scaringe's voice as he talks to employees and media at the R2 launch event in western Utah and prepares to release the vehicle, starting Tuesday for current reservation holders, to the world. Scaringe founded the EV maker in 2009. He has grown Rivian into a company with a $22 billion market cap that ranked highest in Consumer Reports' most recent customer satisfaction survey, but lowest in predictive industry reliability due to consumer-reported problems with its early vehicles. That's unusual for an automotive brand. Typically, the more problems a brand has, the lower its customer satisfactions rank — but not Rivian. It's a testament to the brand Scaringe, a 43-year-old automotive enthusiast and tech entrepreneur, has built. That kind of customer satisfaction is also harder to maintain as a brand grows, which is Rivian's goal with the R2. The new SUV is meant to transform Rivian from a niche EV manufacturer that sells luxury vehicles — largely in California and states where electric vehicles sell well — to a more mainstream brand that can not only compete against U.S. EV leader Tesla but with broader mainstream automotive brands such as Jeep and Subaru. "Its goal is for it to be a high-volume product," Scaringe told CNBC. "Certainly, we're going to draw on some Tesla customers, but the market of non-Tesla customers is many, many times larger." Wall Street analysts have described the R2 as Rivian's make-or-break moment, comparable to Tesla moving from its pricey, first-generation EVs to the mainstream Model 3 and Model Y that currently dominate the U.S. market. "When you build a company from scratch, everything is make or break. There is no company if things don't work," he said. "Saying that it's 'make or break,' it's like, of course, it is." Shares of Rivian were down by about 5% during intraday trading Tuesday following the new timing announcement for the entry-level model as well as expert reviews being released for the R2, which were largely positive. Rivian is also hoping to achieve its main goal with the R2: profitability. The EV maker lost $3.6 billion last year, while only delivering 42,247 vehicles. After promising investors it would be profitable on an adjusted basis by 2027, Rivian earlier this year withdrew that target without disclosing a new time frame to achieve the milestone. That comes as its automotive segment lost about $6,000 per vehicle it delivered during the first quarter of this year.

Rivian is betting on its R2 EV to turn the automaker into a household name like Tesla
Europe
BBC Business

World's largest chipmaker does not rule out price rises as costs increase

The world's largest chipmaker has told the BBC that inflation is pushing up the cost of doing business, and did not rule out price rises. Taiwan Semiconductor Manufacturing Company (TSMC) makes the most advanced chips designed by companies such as Nvidia, AMD and Apple, so any increase in pricing could ripple through to the cost of AI infrastructure, and potentially over time, the prices customers pay for their electronic devices. However, the firm's chief financial officer, Wendell Huang, said it would not introduce sudden "fourfold, fivefold" price rises. "We reflect our value," he said, pointing to its "technology leadership" and "manufacturing excellence". In an exclusive and wide-ranging interview, Huang also denied that the AI boom was a bubble and that the firm's global expansion was due to geopolitical pressure. The global chip industry and TSMC sit at the centre of escalating US-China trade tensions, with Washington pressing leading chipmakers to expand production in the US to secure critical supply chains. Taiwan, the US ally and self-governed island that Beijing claims, produces the majority of the world's most advanced chips, the tiny processors that sit inside smartphones, laptops and AI data centres. Chinese President Xi Jinping warned at a recent summit with US President Donald Trump that mishandling Taiwan could put the relationship between the two superpowers in an "extremely dangerous situation". The BBC travelled to Hsinchu Science Park, a dense cluster of fabrication plants or "fabs" south of the capital Taipei, for TSMC's annual shareholder meeting and for a rare interview with Huang. TSMC is expanding manufacturing in the US, Germany and Japan as well as in Taiwan itself, but Huang pushed back against the idea that this was a response to pressure from either Washington or Beijing. "We go out of Taiwan to build capacity based on customers' demand. The customers want us to go there. It's not the request of government," he said. But on the question of where the world's most advanced chips will be made, Huang was clear: the most cutting-edge production will remain in Taiwan. Moving the manufacturing ecosystem to the US, he said, would take "five or 10 years, or even longer" - a timeline that directly challenges the ambitions of US industrial policy, which has pushed TSMC to commit $165bn to its Arizona operations.

World's largest chipmaker does not rule out price rises as costs increase
North America
CNBC Finance

JPMorgan Chase plans to deploy more powerful AI agents this year

JPMorgan Chase plans to deploy artificial intelligence agents later this year that can work autonomously for far longer than existing versions, marking another milestone in the corporate adoption of AI, CNBC has learned exclusively. AI agents are evolving from tools that complete single tasks to digital workers that manage workflows across multiple steps and disparate software programs, Derek Waldron, JPMorgan chief analytics officer, told CNBC in an interview. "We've entered now the era of long-running autonomous agents," Waldron said. That "means that agents don't just run for two or three minutes to carry out a goal or some instructions of a human, they can run for an hour or two." Long-running agents have already emerged over the past year as examples including Anthropic's Claude Code and OpenClaw went viral. JPMorgan's planned deployment, however, suggests the technology is close to clearing the security and governance hurdles that have slowed adoption inside large companies. JPMorgan, run by CEO Jamie Dimon since 2006, is the biggest U.S. bank by assets and has a nearly $20 billion annual technology budget. While much of the conversation around generative AI has focused on model intelligence, tech leaders are increasingly focused on a different question, said Waldron: How long can AI systems operate effectively before requiring human intervention? That concept, which Waldron called "intellectual coherence," has been helped by improvements in how AI models reason, enabling them to be more of a "team manager than an individual worker," he said. "Just like how people function, team managers can parse out a problem and delegate activities, and teams can run for a lot longer to do more complex things," Waldron said. Other recent advances that have helped agents do more complex jobs include the ability to write code, control web browsers and interact directly with desktop software, he said. While long-running agents aren't yet ready for corporate use because of security concerns, their arrival isn't far off, Waldron said: "We will have those in 2026." Eventually, AI agents will remain coherent for "multiple hours, then days, then weeks," he said. AI-driven productivity gains have been most visible in software development and back-office type operations, but Waldron said it is increasingly boosting revenue-generating roles.

JPMorgan Chase plans to deploy more powerful AI agents this year
Europe
BBC Business

How to enjoy the World Cup - and keep your boss on side

With the 2026 FIFA World Cup about to get under way, many fans in England and Scotland are honing their strategy to balance late kick-offs with work the next morning. Matches are happening across the US, Canada and Mexico, with England's group games starting at 2100 and 2200 BST and Scotland's even later at 2300 and 0200. Some football fans have already strategically booked annual leave around potential knockout fixtures. Others are hoping to negotiate flexible working - later starts or working from home after late-night matches. Scotland fan Cameron Rae has already booked the Monday after the Haiti game off work so he can attend a Tartan Army fan zone at his local town hall, complete with a bar and DJ running until 4am. Pubs will be allowed to stay open until 01:00 BST for England or Scotland matches in the knockout stages that kick off between 17:00 and 21:00 and until 02:00 for kick-offs between 21:00 and 22:00. Rae says: "I booked the Monday off a while ago. I work in a garage and we're open as normal, so I probably wouldn't get away with flexible working." Fellow Scotland fan Krys Kujawa, a business analyst, thinks he can survive the late-nights without needing days off work - just about. "Haiti is early Sunday morning so there's still all of Sunday to recover," he says. "Morocco is late Friday night so you can just stay up and sleep in on Saturday. Brazil is the difficult one - that's coffee-your-way-through-work territory." In Scotland, there will be a one-off national Bank Holiday on 15 June to celebrate the national team playing in its first World Cup since 1998. All NHS Scotland staff and Scottish government employees are entitled to the day off. Local councils can choose to opt in or out and private businesses are not legally obligated to close or grant the extra holiday. Kujawa says he would have "preferred the Bank Holiday after the Brazil match" as it's a "bit of a buzzkill" knowing you have to go to work the next morning. Unions and employment experts have warned businesses to prepare for a spike in so-called "World Cup sickies". BrightHR, which monitors absences across more than one million UK employees, predicts at least 1.5 million workers will call in sick during the tournament, resulting in more than 2.3 million additional sickness absences.

How to enjoy the World Cup - and keep your boss on side
Europe
The Guardian

US stadium and hotel workers threaten strikes ‘to make things fair’ during World Cup

Fifa signage seen at the LA Stadium, temporarily renamed from SoFi Stadium. Photograph: Patrick T Fallon/AFP/Getty ImagesView image in fullscreenFifa signage seen at the LA Stadium, temporarily renamed from SoFi Stadium. Photograph: Patrick T Fallon/AFP/Getty ImagesWorld Cup 2026US stadium and hotel workers threaten strikes ‘to make things fair’ during World CupLow wages and fears of ICE crackdowns have set workers on edge of strike as thousands set to arrive during World Cup Hospitality and food service workers in several US cities hosting World Cup games are warning of looming labor disputes and possible strikes as the largest single sport tournament in the world gets ready to kick off on 11 June. In Los Angeles, California, cashiers, dishwashers, cooks, bartenders, concessions workers and food attendants at the SoFi stadium reached a tentative agreement on Tuesday afternoon, but the union noted it had a contractual right to walk off the job if it determines that federal immigration enforcement is threatening worker safety during the World Cup. The US’s opening match, against Paraguay, is scheduled to take place at SoFi Stadium – rebranded as the Los Angeles Stadium for the tournament – on 12 June. About 2,000 workers at SoFi Stadium represented by Unite Here Local 11 had voted 96% in favor of a strike authorization before the agreement was reached on Tuesday. Workers are seeking a new union contract with wage increases and protections from Immigration and Customs Enforcement (ICE). “We’re just trying to make things fair,” said Eva Miles, a bartender at SoFi stadium since it opened in 2021. “Without us, they don’t have a stadium. Are they going to cook? Are they going to pour those drinks? Are they going to serve these people?” Miles said she and her co-workers cannot afford to live near the stadium on the wages they are currently paid. She commutes two hours to work every day and said some co-workers have even longer journeys. “Let’s see them live on our wage, let’s see them raise a family,” added Miles. Workers are pushing for pay above $30 an hour. “I’ve been there since the beginning. I love meeting new people. I want my guests to be happy, and I want them to enjoy it and have a great experience. I know they spend a lot of money, and I know they’re spending a lot of money on this Fifa World Cup, so I don’t understand why we can’t get what we want and everybody be happy.” The unions ACLU of Southern California and LAANE have also filed a formal complaint with California privacy protection agency and the California department of justice, over Fifa’s accreditation policy that requires workers to divulge immigration information in order to work this summer’s World Cup. Enrique Fernández, the general vice-president for immigration, civil rights and diversity at Unite Here, noted many members of the union are immigrants who will be working at hospitality venues across World Cup host cities. Members of the union include immigrants from nearly 200 countries; the union traces its foundation back to the 1912 Bread and Roses strike of textile workers in Lawrence, Massachusetts, organized by immigrant founders of the union. “They experience the effects of anti-immigrant policy and rhetoric every day, and they don’t need the added stress of tracking ICE agents at their workplaces,” said Fernández. SoFi Stadium declined to comment, deferring to Legends Global, the concessionaire that employs the workers.

US stadium and hotel workers threaten strikes ‘to make things fair’ during World Cup
Europe
The Guardian

UK watchdog to look at Paramount’s $110bn takeover of Warner Bros Discovery

The premiere last week of Paramount’s Scary Movie. Photograph: Jesse Grant/Getty for ParamountView image in fullscreenThe premiere last week of Paramount’s Scary Movie. Photograph: Jesse Grant/Getty for ParamountCompetition and Markets AuthorityUK watchdog to look at Paramount’s $110bn takeover of Warner Bros DiscoveryDeal to create a streaming and sports powerhouse will be scrutinised by Competition and Markets Authority The UK competition watchdog has opened an investigation into Paramount Skydance’s $110bn (£82bn) takeover of Warner Bros Discovery (WBD). The deal will create a media powerhouse controlling assets including the Paramount and HBO Max streaming services, Channel 5 and TNT Sports, which broadcasts Champions League, Premier League and the Olympics, the Hollywood studios behind franchises including Superman, Batman and Top Gun, as well as HBO, home to shows including Game of Thrones, The White Lotus and Succession. The Competition and Markets Authority (CMA) said it has opened an investigation to ascertain whether the tie-up will result in a “substantial lessening of competition” in the UK. The CMA said it will decide by 7 August whether the deal warrants a more in-depth phase 2 investigation, which can take up to five months. In February, Paramount beat Netflix to take over WBD, bringing an end to a high-stakes bidding war between the media companies. Netflix refused to increase its bid, saying that at the price offered for WBD it was “no longer financially attractive” to continue the bidding war. Paramount, which paid a $2.8bn fee to Netflix for breaking the streamer’s $82.7bn deal for WBD’s streaming and studio assets, is facing regulatory scrutiny and a backlash from critics worried about the impact on Hollywood. In April, more than 1,000 film and TV industry professionals, including Mark Ruffalo, Kristen Stewart, Ben Stiller and Joaquin Phoenix, signed an open letter protesting against the deal. “The integrity, independence and diversity of our industry would be grievously compromised,” the letter said. “Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement.” The US senator Elizabeth Warren has described the deal as “an antitrust disaster threatening higher prices and fewer choices for American families”. In April, David Ellison, chief executive of Paramount, told a movie theatre owners convention that he promised to continue to make a minimum of 30 films a year across the Paramount and Warner Bros film studios.

UK watchdog to look at Paramount’s $110bn takeover of Warner Bros Discovery
North America
Yahoo Finance

Aktsiaselts Infortar own share acquisition transactions

Aktsiaselts Infortar acquired its own shares on the Nasdaq Tallinn StTemplate Manager ock Exchange during the period of 1 June – 5 June 2026 as follows: DateAggregated volume (pcs)Weighted average price per day (EUR)01.06.202627648,113802.06.202628148,533103.06.202625448,400004.06.202625148,487305.06.202625448,6382 Aktsiaselts Infortar is acquiring its own shares based on the stock exchange announcement published on 20 April 2026. The share buyback programme is managed by SEB Pank AS, which will

Aktsiaselts Infortar own share acquisition transactions