Europe
BBC Business

I dropped out of university and built five beauty businesses. Here's how I did it

The name Marcia Kilgore might not be instantly recognisable but her Beauty Pie brand is known the world over for being an industry game-changer with its online-only subscription model. Before founding Beauty Pie in 2016, Kilgore had built other brands including luxury day spa Bliss, make-up and skincare range Soap & Glory and footwear brand FitFlop. Here the 57-year-old serial entrepreneur shares her story and the five secrets to success she learned along the way. Kilgore didn't always know she wanted to be an entrepreneur but growing up she saw first-hand the stress that financial insecurity could cause. "I remember deciding at eight-years-old that when I was my parents' age, I would never want to be stressed about my electric bill," she says. That desire shaped her approach to work and risk. "I knew that working for other people wouldn't necessarily give me the freedom I wanted and at least when you are an entrepreneur, the risk is your own." She didn't begin with a grand business plan - she moved from Canada to New York to study at Columbia University and her tuition plan fell through so she had to get a job to support herself. "You can't sit around thinking: 'What am I going to do? You have to survive. I knew I had to use the skills I had to support myself and then I would figure it out." She started working as a personal trainer and taking beauty classes in the evening. "What ended up transpiring was that I was quite good at the beauty industry job," she says and eventually she dropped out of university to pursue a career in it. Working in her salon, Kilgore says she was involved in every aspect of the business from the laundry, to performing treatments and training staff. She says that practical experience was invaluable when she later opened Bliss Spa in London in the 1990s.

I dropped out of university and built five beauty businesses. Here's how I did it
Asia
The Hindu BusinessLine

Trump says Mideast allies have reached outlines of deal to end Iran war, US to stop new strikes

President Donald Trump in a Saturday evening social media post claimed that Mideast allies have reached the parameters of a deal to end the Iran war and said that he would hold off on ordering new strikes in the five-month old conflict for now. “Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL,” Trump said. He added that Israel has agreed to join the US in the commitment to try to complete the agreement with Iran that would bring about an end to the war. Earlier Saturday, Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto leader, in a phone call with Trump raised concerns about the US potentially escalating the conflict with Iran, according to a person familiar with the leaders' discussion. The discussion, which was first reported on by the news outlet Axios, came as Trump weighed whether to carry out new strikes on Iran. The Saudis, according to the person briefed on the substance of the call but not authorised to comment publicly, are concerned that if the US targets Iran's energy infrastructure or carries out massive strikes on other key infrastructure that Tehran could respond by carrying out attacks on the kingdom's and other Gulf countries' energy infrastructure. The crown prince during Saturday's call sought clarity from Trump on what potential new action he's weighing to take against Iran, the person said. A White House official, who was not authorised to comment publicly and requested anonymity, confirmed the leaders spoke on Saturday but did not offer any detail about the substance of their conversation. Saudi Arabia earlier this week joined the US in striking multiple logistics and weapons sites used by Iranian-backed militias in Iraq, but has been urging the US and Iran to get back to the negotiating table to find an endgame to the five-month old conflict. The crown prince also dispatched his brother, Saudi Defence Minister Khalid bin Salman, to Washington on Wednesday for separate meetings with Trump and Vice President JD Vance to discuss Iran strategy. And Trump met with Israeli Prime Minister Benjamin Netanyahu on Tuesday at the White House, their first in-person meeting since launching the war in February. The Israeli leader has urged Trump to continue to prosecute the war against Iran. The stakes for continued US military action are high for Trump and his party as the conflict, unpopular among many Americans, has jolted the world economy just months before critical midterm elections in November.

Trump says Mideast allies have reached outlines of deal to end Iran war, US to stop new strikes
North America
CNBC Finance

Logistics giants are racing to keep up with healthcare boom as GLP-1s highlight need for cold storage

As demand rises for specialized medications like GLP-1s, logistics companies including UPS and FedEx are adapting their strategies to be able to better ship and store those pharmaceuticals. Most injectable GLP-1 medications, including Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Mounjaro and Zepbound, require refrigerated storage for shipment. The Covid pandemic put healthcare logistics at center stage in 2020, as the shipping of temperature-controlled vaccines quickly became a crucial part of keeping the virus at bay. And as more money has been poured into new pharmaceutical innovations, the transportation of those products have come under the spotlight. Logistics companies are now investing millions of dollars and strengthening dozens of temperature-controlled facilities to tap into the market. In June, UPS announced a new $48 million investment in temperature-controlled facilities as it sees a growing demand for critical treatments. According to Growth Market Reports, the demand for temperature-sensitive biologics is projected to grow at an 8.3% compound annual growth rate through 2033 and reach a market value of roughly $39.1 billion. Obesity and diabetes drugs, meanwhile, have been booming in popularity. A July Gallup poll found that 11% of Americans take GLP-1 medications for weight loss purposes in 2026, up from just 3% in 2024. But if they're not stored and shipped at the correct temperature, they risk losing their efficacy. The Food and Drug Administration has warned that improper storage during shipping can affect the medicine's quality and recommends patients do not use GLP-1 drugs that arrive "warm or with insufficient refrigeration." Other biologics, like some vaccines, insulin and antibiotics, also require specialized shipment to maintain efficacy. For logistics companies, that means ensuring the proper storage and movement every step of the way. Healthcare logistics have proven to be one of UPS' biggest opportunities. On an earnings call with analysts in April, CEO Carol Tomé said the company's global healthcare portfolio has gained market share every year since 2021, generating its first ever $3 billion healthcare revenue quarter in the first quarter of this year. UPS President of Healthcare John Bolla told CNBC that the company is seeing more healthcare companies looking for partners to keep up with the volume. "One of the biggest opportunities we see is supporting the shift toward more specialized therapies and more care delivered outside of traditional healthcare settings," Bolla said.

Logistics giants are racing to keep up with healthcare boom as GLP-1s highlight need for cold storage
Europe
BBC Business

Burnham has no scope to increase borrowing, think tank warns

Prime Minister Andy Burnham will have to raise taxes or cut spending to meet his pledges on defence and the cost of living, a major think tank has said. Burnham has announced a series of new measures since assuming office last week, including cuts to electricity bills and bringing the bus fare cap in most parts of England back down to £2. But the National Institute of Economic and Social Research (Niesr) warned the public finances will continue to be squeezed by more persistent inflation as a result of the Iran war. It questioned whether Burnham had "fully thought through" how his promises would be paid for, but said the prime minister will have to raise taxes or cut spending elsewhere. Stephen Millard, Niesr's deputy director for macroeconomics, said: "There's clearly no scope for increasing borrowing, so it is about choices." Labour's manifesto pledge was to not increase taxes for working people - including income tax, VAT and national insurance contributions - which Burnham has said he will uphold. Millard said Niesr was advocating for cost-of-living measures to be funded through higher taxes – "which could involve tax reform rather than higher marginal rates" – or spending cuts. He said: "People have talked a lot about the welfare bill – that is an obvious place to look. "The triple lock on pensions, that is very, very expensive, and will get more expensive as we age." He also pointed to potentially reforming council tax to move towards a land value tax system, or scrapping some VAT exemptions. "Once you've done all of that, then I'm afraid I would break the manifesto promise and would be looking at the income tax rate." Niesr also said on Wednesday it expects inflation to keep rising until February 2027, peaking at 3.8% before falling back to the Bank of England's 2% target.

Burnham has no scope to increase borrowing, think tank warns
Europe
BBC Business

Data centres could pay hundreds of millions in deposits for power demands

Ofgem has proposed new measures which could see developers of data centres made to pay hundreds of millions of pounds up front. The British energy regulator said a refundable fee should be charged for projects that want to connect to the network, amid mounting demand for connections to the electricity grid. It is proposing developers pay a deposit between £237,500 to £712,500 per megawatt - meaning data centres seeking 1 gigawatt (GW) of power would have to pay hundreds of millions up front, paid back if the project was completed. The proposal follows growing opposition in parts of the country to plans for new data centres, which are needed to power the artificial intelligence boom. Data centres are large buildings which house computer servers used to store and process data and run the digital services which power the internet. Ofgem has started a consultation on its proposals, which will run until 16 September. It said the amount of electricity capacity being requested by projects seeking to connect to the grid had risen from 41 GW to 125 GW in the past year, reflecting a sharp increase in demand. This is significantly more than double 2025's peak electricity demand in Britain of around 46 GW. The regulator said the projects would have to hit key milestones to keep their place in the grid connection queue, which has seen a surge in demand. An increasing number of centres have been built around the world in recent years to provide the computing power needed to train and run AI systems. Residents have raised concerns about noise, electricity demand and the large amounts of water sometimes used to cool the high-performance chips that generate vast amounts of heat. There are currently 564 data centres listed in the UK, according to the data centre map, external.

Data centres could pay hundreds of millions in deposits for power demands
Europe
BBC Business

Matcha and protein pivot pays off for Greggs as profits rise

Greggs's pivot towards healthier products and trending drinks has helped it boost sales, with the bakery chain reporting a 20% rise in profit over the first half of the year. Greggs, the UK's largest fast-food chain, has launched a range of new products this year, many of which latch onto trends such as high-protein salads and matcha. Greggs's chief executive Roisin Currie previously told BBC News the rise of weight-loss drugs has led customers to to look for "smaller portions", which could affect its bottom line. Total sales for the bakery topped £1.1 billion for the 26 weeks to the end of June - 7.2% higher than the same period a year ago. Pre-tax profit for the first half of the year was £76.0m - up from £63.5m for the first six months of 2025. Currie said the company was "broadening and innovating our menu in line with changing tastes and trends". The company relaunched its salad range in May, "adding protein and increased choice for customers". It is also trying to appeal to "new and younger customers" through its new iced matcha lattes, and to health-conscious consumers by making nutritional information on its labels clearer. Greggs, which has more UK outlets than McDonald's, opened 34 stores in the first half of 2026. That brings the total to 2,773, taking into account 31 store closures. More than half of the new openings were in areas with no Greggs stores within a mile. A similar proportion opened away from the High Street in locations including petrol forecourts, supermarkets, retail parks, hospitals and university campuses, it said. Currie said Greggs is monitoring customer behaviour to ensure new stores boost visits "without cannibalising existing shop sales". She also said Greggs had no price rises planned after its breakfast, lunch and "big" deals went up in May, following multiple hikes last year.

Matcha and protein pivot pays off for Greggs as profits rise
Europe
The Guardian

Apple becomes second $5tn company as investors flee AI stocks

Apple’s shares hit a session high ⁠of $342.89 on Tuesday. Photograph: Matthias Schräder/APView image in fullscreenApple’s shares hit a session high ⁠of $342.89 on Tuesday. Photograph: Matthias Schräder/APAppleApple becomes second $5tn company as investors flee AI stocksShare price rally driven by strong product demand as well as decision to sit out AI spending race, amid wider tech sell-off Apple has become only the second company to pass the $5tn valuation mark, as it benefited from investors fleeing AI and semiconductor stocks amid a wider tech sell-off. The iPhone maker’s shares hit a session high ⁠of $342.89 on Tuesday, giving it a market ⁠capitalisation of $5.04tn (£3.78tn), then eased back down to $340.08 – around the $5tn mark. Apple became the world’s most valuable company earlier this month, overtaking the chip giant Nvidia, which had been ⁠at the top since June 2025 and became the first company to breach the $5tn threshold last October. The US consumer electronics company’s rally has been driven ⁠as much by strong demand for its products as its decision to sit out the ​AI spending race that is sapping cash ‌flows at big tech ‌rivals. Its fresh high valuation came amid an intensifying sell-off of AI stocks around the world driven by rising concerns about AI companies’ borrowing to fund datacentre expansion. US chip stocks extended their recent losses when Wall Street opened on Tuesday, with Intel, Advanced Micro Devices, Sandisk, Western Digital and Seagate Technology all down by more than 4%. The Nasdaq 100 index of leading tech stocks fell by as much as 1.8% at one point, meaning since its early June record high it had fallen more than 10% – the technical definition of a market correction. Meanwhile South Korea’s stock market slid to its lowest level since mid-April, with semiconductor companies SK Hynix and Samsung Electronics falling by more than 10%. Analysts attributed the sell-off to renewed worries over AI investment spending, and competition from cheaper Chinese companies, after a report by the Information that China had begun mass production of homegrown deep ultraviolet (DUV) chip-making tools. View image in fullscreenApple’s decision to hold iPhone prices steady, despite increases last month for MacBooks and iPads, has bolstered demand. Photograph: Lucas Jackson/ReutersInvestors may also be growing jittery about the “circular funding” at the heart of the AI industry, through which artificial intelligence companies finance one another. They have also been spooked by the announcement from Google last week that it was further increasing capital spending this year to as much as $205bn to fund its AI plans, while reporting negative free cashflow for ​the first time in its history, burning through $5.9bn in the three months to the end of June.

Apple becomes second $5tn company as investors flee AI stocks
Europe
BBC Business

Ticket prices set to rise by 15p as Heathrow able to recover runway project money

Image source, Getty ImagesByKaty AustinTransport correspondentPublished29 July 2026, 07:18 BSTUpdated 3 hours agoHeathrow Airport will be allowed to charge airlines more for its services to recover money spent on the early stages of its third runway project. The aviation regulator is permitting the airport to claw back up to £320m through higher airport charges to airlines for each passenger. This is likely to end up adding 15p to ticket prices in 2028, rising to 30p in later years. A bidder which unsuccessfully put forward a rival design involving a shorter runway, Arora Group's Heathrow West, will also be allowed to recover £4.1m pounds in costs. The Civil Aviation Authority (CAA) and Heathrow said safeguards would be put in place to protect consumers from unjustified costs. At this stage, the costs being recovered are only for the early planning and design of the runway during 2025 and 2026. How much the cost of actually building the runway will add to ticket prices won't be clear for some time. Tim Johnson, the CAA's director of consumers and markets, told the BBC: "We've announced that the first tranche of costs, which is to help with the planning of this, can be recovered from passengers. That's up to a maximum of £320m." Heathrow airport will also be able to collect Heathrow West's costs up to November last year by adding to its airport charges. The CAA said allowing these costs to be recouped will result in the maximum airport charge per passenger increasing by around 15 pence in 2028, rising to an estimated 30 pence in the following years. A Heathrow spokesperson said: "This project is about making travel more affordable and giving passengers more choice, while providing a real economic boost to every region and nation of the country." "We are carefully considering the CAA proposals and will make investment decisions accordingly," the spokesperson added. In November, the government announced it preferred the £33bn scheme put forward by the airport over Arora's alternative plan.

Ticket prices set to rise by 15p as Heathrow able to recover runway project money
Europe
BBC Business

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.

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