Latest Developments

Europe
BBC Business

Job vacancies at five-year low as smaller firms scale back recruitment

Image source, Getty ImagesPublished18 August 2026, 07:25 BSTUpdated 2 hours agoThe number of job vacancies has fallen to its lowest level in more than five years as smaller businesses cut back on recruitment, official figures indicate. Vacancy numbers fell over the May-to-July period to 707,000, according to the Office for National Statistics (ONS), which said small firms were citing labour and operating costs as reasons for scaling back hiring. Energy costs have risen since the Iran war began, and companies have also said that increases in National Insurance and the minimum wage have made it more expensive to employ staff. Earnings growth picked up slightly, although private sector wages grew at their slowest rate for nearly six years. Regular earnings - which exclude bonuses - grew at an overall annual pace of 3.5% in the three months to June, the ONS said. Pay growth for the public sector was 6.1%, due to the timing of the latest NHS pay awards, while in the private sector it dipped to 2.8%. "The UK labour market remains stuck in a low-churn limbo, with employers reluctant to hire, fire or offer bigger pay rises as they grapple with rising costs, intensifying global headwinds and heightened policy uncertainty," said Suren Thiru, chief economist at the Institute of Chartered Accountants in England and Wales. "The persistent slide in vacancies is a red flag for the jobs market, suggesting labour demand is shrinking amid soaring employment and energy costs, while greater automation is also squeezing some entry-level roles." The ONS said the labour market was "little changed overall", with the unemployment rate remaining at 4.9%. Its figures showed , externalthe number of payrolled employees fell by 13,000 in June, and early estimates suggest it dropped by a further 13,000 in July. Responding to the latest figures, the Secretary of State for Work and Pensions, Pat McFadden, said it was "encouraging to see signs of progress". "We've already put in places reforms to get Britain working again," he added, citing changes to Universal Credit "to remove barriers that held people back from employment" and spending on support to help people with health conditions and disabilities move into work. But shadow chancellor Mel Stride said: "Job vacancies are at their lowest in over five years, and unemployment remains high. Labour are the party of welfare, not work." On Tuesday, the Conservatives announced proposals to make it easier for young people to get summer jobs. The party said it would give young workers more flexibility around breaks and shift patterns, and simplify evening working restrictions at weekends and outside term-time.

Job vacancies at five-year low as smaller firms scale back recruitment
North America
CNBC Economy

An inflation report Wednesday should be a big deal for the Fed. Here's what to expect

An important inflation report Wednesday could give the Federal Reserve a little breathing room in its battle against inflation. The consumer price index, due at 8:30 a.m. ET from the Bureau of Labor Statistics, is expected to show only a modest increase for July — 0.1% on the all-items headline number and 0.2% for the all-important core reading that excludes volatile food and energy prices, according to the Dow Jones consensus. On an annual basis, they are expected to show 3.4% and 2.5% respectively, both down 0.1 percentage point from June. While that will still keep annual inflation rates well above the Fed's 2% goal, two straight muted monthly readings could help buy Federal Open Market Committee policymakers a little time before making a move on interest rates. "If we get a July CPI report anywhere near my forecast, the balance of the committee is going to look right through the supply shock, and the FOMC will remain on hold for the remainder of the year," said Joe Brusuelas, chief economist at RSM. The data, he added, will provide "something of an assist" for Fed Chairman Kevin Warsh, who has faced stiff policy challenges since taking the post in May. At its July meeting, the FOMC split in a 9-3 vote to hold its key borrowing rate unchanged at 3.5%-3.75%. The three dissenting voters all favored a quarter percentage point increase, and Governor Lisa Cook recently indicated that she, too, sees the need for hiking if the inflation data doesn't cooperate. However, a recent spate of less-threatening numbers and back-and-forth signs of easing tensions in the Middle East have caused a repricing in market expectations. Traders now see the September meeting as presenting only a 50-50 chance for a hike, and see a better likelihood in October or December, according to the CME's FedWatch gauge. Fed officials will have the advantage of taking in both the July and August inflation readings before meeting again. The central bank skips an August meeting as the Kansas City Fed hosts its annual symposium in Jackson Hole, Wyoming. "If you're not confused, you're not paying attention," Brusuelas said. "That's a good synopsis of where we're at here in mid-August." The economy is coming off a June that provided some welcome relief in the inflation numbers, with the headline rate down 0.4% on a monthly basis and core flat, largely due to receding energy prices and a moderation in shelter costs. At the same time, a report last Friday showed nonfarm payrolls fell by 23,000 in July even as the unemployment rate dropped to 4.1%. Even with potential signs of a softening labor market, however, some economists are bracing for a potential upside surprise in the July data or at least indications that inflation is too stubborn for the Fed to ignore. Bank of America, for example, is still calling for three rate increases in coming months. The firm's economists said in a client note that the July jobs report "didn't change the overall picture on the labor market — it's stable. And more importantly, the Fed's reaction function is heavily skewed towards the inflation data as noted by recent Fed speak." Should the Fed's primary inflation gauge average 0.25% increases over the next two months, "it is all but guaranteed that the Fed will begin hiking rates in September," BofA said.

An inflation report Wednesday should be a big deal for the Fed. Here's what to expect
North America
CNBC Finance

Housing investors say this is their worst market in at least 3 years

Investors in the single-family housing market are increasingly concerned about interest rates, rising insurance and home costs, and the ongoing war with Iran. As a result, they are less confident in their businesses than they have been in at least three years. Investor sentiment at the end of June fell for the second straight quarter to an all-time low on the quarterly RCN Capital/CJ Patrick Company Investor Sentiment Index, or ISI. The index surveys more than 300 investors in the fix-and-flip and rental businesses. Just 26% of respondents said they believe market conditions are better than they were a year ago, the lowest share since the survey began in 2023 and down from 35% in the first quarter. Fully 45% said the market has gotten worse, the highest in the survey's history. "In addition to the ongoing conflict in Iran, rising finance costs, limited inventory, escalating home and renovation costs and downward pressure on rental rates are all contributing factors for their increased pessimism," said Jeffrey Tesch, CEO of RCN Capital, a private lender to real estate investors, in a release. The vast majority of investors surveyed in this report were small to mid-sized. That's in contrast to large institutional investors covered by the recently enacted 21st Century ROAD to Housing Act, which will generally prohibit investors with at least 350 single-family homes from acquiring additional single-family homes. Small- to mid-sized investors tend to use bridge loans, special investor loans for rental properties and conventional loans that are typically 30-year and fixed rate. Of those surveyed, 28% reported paying cash in their recent purchases. Mortgage rates hit a recent low at the end of February but rose sharply at the start of the war with Iran. They are now at their highest level in over a year. More than half of survey respondents said the high cost of financing is "one of the biggest problems in today's market," according to the report. Three-quarters of them said they do not expect to see any rate relief anytime soon, and some expect rates to rise. CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. "Real estate investors purchased 23% fewer homes in the first quarter of 2026 than they did in the previous quarter and in the first quarter of 2025. The survey also shows that 32% of the respondents don't plan to buy any properties at all this year, and only 9% plan to buy more than they did a year ago," said Rick Sharga, CEO of the CJ Patrick Company. More than 60% of respondents expect home prices to rise over the next six months, up from just under 52% in the prior survey. Higher prices can raise investors' acquisition costs while increasing the potential value of properties they already own. 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.

Housing investors say this is their worst market in at least 3 years
North America
CNBC Finance

Trump wants to split the MMR vaccine. Experts say that's unlikely — and comes with consequences

President Donald Trump's latest executive order calls for splitting the measles, mumps and rubella, or MMR, vaccine into three separate shots – but doctors and other experts say that effort has no scientific basis and is unlikely to get off the ground. Trump on Monday said without evidence that the vaccine could be "quite lethal" in its combined form, even though the shot has repeatedly been proven safe and effective across large-scale studies. Experts called that claim "completely false" and said there is no scientific data showing benefits of separating the shot. Splitting the vaccine would also come with "significant logistical limitations," and having three standalone shots that require multiple doctor's visits could result in more delayed or missed vaccinations among kids, Neil Maniar, a public health professor at Northeastern University, told CNBC. "They're not solving a problem here. They're creating a new one," Maniar said. "Based on false scientific rationale and political ideology, they're changing something that works into something that we have no idea what it will do." The U.S. has already seen a decrease in the share of parents who are willing to use the MMR shot to vaccinate their children, which has contributed to the recent resurgence in U.S. measles cases, Dr. Andrew Racine, president of the American Academy of Pediatrics, told reporters on Wednesday. The U.S. has logged its highest number of measles cases in decades this year. Trump's rhetoric and recommendations could also further undermine the public's confidence in the safety of the MMR vaccine, said William Moss, a pediatrician and epidemiological professor at Johns Hopkins University. Roughly 9% of parents report either skipping or delaying the MMR vaccine for their children, according to a 2025 survey conducted by health policy organization KFF and the Washington Post. It's unclear how that compares to previous years. It's also not clear where Trump initially got the idea to split the shots, but some experts say it can likely be traced to a British gastroenterologist, Andrew Wakefield. He is an anti-vaccine advocate who published a paper in 1998 claiming to show a connection between MMR vaccines and an increase in autism. That paper has since been retracted, and Wakefield was removed from the U.K.'s medical register. Manufacturers of the MMR vaccine – Merck and GSK – seem to have little incentive to develop standalone shots, which would take significant time and resources away from their other crucial work toward treating and finding cures to other diseases. Those vaccines would likely reach the market long after Trump's term ends. "I don't see any world in which vaccine manufacturers have any interest in developing and going through the rigorous regulatory process, getting FDA approval, doing the trials for monovalent measles, mumps, and rubella vaccines," said Moss. "It would be a foolish investment to make." AAP's Racine also said that it would likely take more than a decade to develop those standalone shots. In a statement on Wednesday, Merck added that evidence suggests using combination shots improves childhood vaccination outcomes, increasing the completion of all recommended doses and compliance rates.

Trump wants to split the MMR vaccine. Experts say that's unlikely — and comes with consequences
North America
Yahoo Finance

Wall Street set for steady start after S&P 500's record close

Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Wall Street looks set for a calm end to the week, with US stock futures drifting close to flat on Friday. That comes after the S&P 500 powered to a fresh record high on Thursday, buoyed by softer-than-expected inflation figures and receding worries about further Federal Reserve interest rate rises. Contracts tied to the Dow Jones Industrial Average nudged up 0.1%, while those on the tech-heavy Nasdaq 100 dipped just below the waterline. The mood was helped by a bright session in Asia, where South Korea's KOSPI jumped more than 1.4% and Japan's Nikkei added 0.8%. A run of strong corporate earnings has done much of the heavy lifting for stocks lately.

Wall Street set for steady start after S&P 500's record close
Europe
BBC Business

Wetherspoons bans customers playing music from phones in pubs

Image source, Getty ImagesByMitchell LabiakBusiness reporterPublished18 August 2026, 10:46 BSTUpdated 1 hour agoWetherspoons has banned its customers from playing music out loud or taking calls on speaker, saying the noise from phones and tablets was an increasing problem driving people "nuts". The company – which runs 792 pubs and bars across the UK – said that following complaints it has asked customers to switch their devices to silent or to use earphones. Polling in recent years by various organisations suggests people are largely opposed to others playing music or taking calls on speaker in public spaces. Wetherspoons told the BBC that staff would be asked to use "common sense" when enforcing the ban. "We are not looking to ask anyone to leave a pub if they go against the ruling, but it is an option for managers if they refuse to do so," the company said. The British Beer and Pub Association, which represents Wetherspoons and several other pub companies in the UK, said that "having a clear policy helps staff enforce rules and customers know what they can and can't do". The group added: "We're yet to hear of anyone who relishes having a pint against the backdrop of a speakerphone call or someone loudly playing a video, so we expect this move will be greatly welcomed." Studies suggest the majority of Britons are annoyed by hearing people take calls on speakerphone or playing videos or music on their phones without headphones. A Transport for London survey of 1,000 people last year found 70% of respondents found loud music and phone calls without headphones a nuisance. However, the evidence also suggests there is a clear generational gap. In an Ofcom survey of 1,010 people in August 2022, of the 13-to-17-year-olds questioned, 69% said it was acceptable to make video calls, 73% to listen to music and 83% to watch videos without headphones. The decision by Wetherspoons follows a stricter, longstanding policy from rival pub chain Sam Smiths, which has a ban against phone or tech use of any kind, in addition to a ban on swearing. Wetherspoons does not play music in any of its pubs, with chief executive Sir Tim Martin describing them as "an oasis of tranquillity and contemplation... in a world dominated by other people's music and amplified sound".

Wetherspoons bans customers playing music from phones in pubs
Europe
BBC Business

Ferguson shipyard to cut a quarter of its workforce

Image source, Getty ImagesByCalum WatsonBBC ScotlandPublished18 August 2026, 09:24 BSTUpdated 2 hours agoScotland's state-owned shipyard is to cut nearly a quarter of its total workforce while it waits for confirmation of promised new orders. Workers at Ferguson Marine have been invited to apply for voluntary redundancy as construction draws to a close on the second of two long-delayed CalMac ferries. The Port Glasgow firm currently employs 247 core staff, 31 agency staff and 32 apprentices - but says it expects to shed 70 posts through a voluntary redundancy process. The Scottish government has promised to directly award the yard new orders for four smaller ships, but ministers say they are still conducting "due diligence" on the plan. Ferguson Marine said the job losses would protect the long-term viability of the yard - but unions described the move as "a betrayal of a blameless workforce". BBC Scotland News understands those who choose to leave the firm will receive £1,000 per completed year of service, up to £10,000. It was nationalised in 2019 after a long dispute between its former owner and government-owned ferries agency Caledonian Maritime Assets Ltd (CMAL) over claims for extra costs for two dual-fuel CalMac ferries. The first, MV Glen Sannox, was finally delivered in November 2024, while MV Glen Rosa is due for completion by the end of this year. The shipyard recently completed sub-contracting work for BAE Systems for new Type 26 frigates and currently has no confirmed future orders. Ferguson Marine CEO Graeme Thomson said the yard's immediate focus was the handover of Glen Rosa before the end of this year. "However, as the vessel nears completion, we face an inevitable gap in workload while we work with the Scottish government to make the relevant preparations to enable us to proceed with contract negotiations," he said. "Shipbuilding capability relies on continuity and while changes of this nature are difficult, taking proactive action now ensures we protect the long-term viability of the yard and remain lean, modern, and ready to cut steel on the new fleet as quickly as possible."

Ferguson shipyard to cut a quarter of its workforce
Asia-Pacific
The Straits Times

Want to know if you are paid enough? Start with these salary guides

Besides the Singapore Salary Guide by The Straits Times, which draws on Ministry of Manpower data, other recruitment firms also publish benchmarking guides using their own data. SINGAPORE – The Singapore Salary Guide by The Straits Times offers a broad, national-level view of the wages across more than 500 occupations based on the Ministry of Manpower’s data. Readers can enter their age, occupation and gross monthly salary to see how they compare with peers at the 25th, 50th and 75th percentiles. The guide also shows the highest-paying jobs by median salaries. At the top are diagnostic radiologists, derivatives dealers and flying instructors, each with a median monthly salary of $20,000. They are followed by chief information, information security and technology officers at $17,812, risk management managers at $17,077 and commercial airline pilots at $17,053. Among workers aged 25 to 29, artificial intelligence and machine learning engineers top the rankings with a median monthly salary of $8,970. Among those in their 30s and 40s, the top-earning occupations include financial derivatives dealer, economist and infocomm technology sales and services professional. Among those in their 50s, flying instructor, in-house legal counsel and fund/portfolio manager are among the best-paid occupations. Men earn more than women in 251 of the 365 occupations where comparisons are available. The widest gap observed is among fund/portfolio managers, trade brokers and sales professionals. Women earn more in occupations such as sports centre managers, business valuers and industrial safety engineers. Several recruitment firms also publish their own salary guides. These tend to offer more industry-specific views of the market. Here are some examples: Adecco: Using data from its clients and candidates, it provides salary benchmarks across 10 functions, including finance, engineering, technology and education – a sector rarely featured in other guides. Its figures represent monthly base salaries. Michael Page: It draws on its proprietary data and analyses to project salaries across 13 functions, ranging from banking and legal to procurement and sustainability. Its salary figures include bonuses and incentives.

Want to know if you are paid enough? Start with these salary guides
Europe
The Guardian

BBC seeks to subpoena Trump children and son-in-law over defamation lawsuit

From left, Jared Kushner, Ivanka Trump and Donald Trump Jr at the inauguration of Donald Trump in Washington DC on 20 January 2025. Photograph: Chip Somodevilla/EPAView image in fullscreenFrom left, Jared Kushner, Ivanka Trump and Donald Trump Jr at the inauguration of Donald Trump in Washington DC on 20 January 2025. Photograph: Chip Somodevilla/EPABBCBBC seeks to subpoena Trump children and son-in-law over defamation lawsuitNetwork wants to serve Jared Kushner, Ivanka Trump and Donald Trump Jr after president sues over January 6 documentary The BBC is trying to subpoena Donald Trump’s children as it builds its defense against the president’s defamation lawsuit centered on a documentary on the January 6 insurrection. In a motion filed on Friday, the BBC sought authorization to serve Trump’s two eldest children, Donald Trump Jr and Ivanka Trump, and son-in-law Jared Kushner, with subpoenas for testimony and their records on the events of 6 January 2021. The BBC, its lawyers wrote in court documents, is entitled to discover Trump’s “intention behind the speech and anything that bears on the impression his audience could have reasonably obtained in listening to the speech”, which includes whether Trump “gave it intentionally or otherwise; the breadth of the audience of the message and impression; and the extent of any resulting injury or harm”. Trump filed the lawsuit against the BBC in December over scenes in the 2024 BBC documentary Trump, A Second Chance?. It argued that the BBC spliced scenes from Trump’s 6 January 2021 speech so that it appeared Trump directly urged his supporters to attack the US Capitol building. Trump’s children and son-in-law have, “without question”, knowledge of several incidents that day, BBC’s lawyers wrote, , including when Trump sought to convince former vice-president Mike Pence to refuse certifying the results of the 2020 election. The BBC also said that Kushner allegedly helped to draft a statement for Trump that would have condemned the use of violence at the Capitol. The British broadcaster had been unable to previously serve Trump’s children and son-in-law with subpoenas because they are protected by the US Secret Service as members of the sitting president’s immediate family, according to the court documents. The BBC had tried previously to serve Ivanka Trump and her husband, Kushner, at their home in Florida but were blocked by law enforcement officials. Last week, a federal judge granted Trump’s request to block the BBC from accessing financial records after Trump’s lawyers said they would amend the lawsuit to focus specifically on the reputational damages rather than business impacts. Another judge had previously ruled that Trump would have to start handing over records that would have provided details on the hundreds of businesses owned by Trump’s family trust. Trump recently claimed that the BBC used artificial intelligence to alter his speech, which the network has denied. While the BBC has apologized for the editing, it has maintained that Trump lacks the grounds for a defamation lawsuit. The BBC is being represented by the law firm Ballard Spahr, which has also defended several publications facing lawsuits from Trump and his allies, including the New York Times and the Associated Press. It is one of several media organizations that Trump has targeted after they published critical reporting of him. The Wall Street Journal is also facing a $10bn lawsuit for its reporting on Trump’s alleged contributions to Jeffrey Epstein’s birthday book, and several journalists at the New York Times were subpoenaed over an article detailing security concerns with the Air Force One presidential jet.

BBC seeks to subpoena Trump children and son-in-law over defamation lawsuit