Business

A collection of 1424 posts

Business

Britain guarantees prices for offshore wind projects to power 12 million homes

On Wednesday the British government said it would provide guaranteed electricity prices to a group of offshore wind farms off England, Scotland and Wales that would, once built, provide power for 12 million homes. The support covers 8.4 gigawatts of capacity, the largest amount secured in a British auction,

Business

Saks Global files Chapter 11, secures $1.75 billion to keep operating

People reports Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, filed for Chapter 11 bankruptcy late Tuesday in U.S. Bankruptcy Court for the Southern District of Texas after struggling under a heavy debt load following its 2024 acquisition of Neiman Marcus. Former Neiman

Business

Scottish farmer turns family dairy into 1.5m-litre organic business

Bryce Cunningham has transformed his family dairy into Mossgiel Organic Farm in Mauchline, which now employs more than 40 people and processes about 1.5m litres of organic milk a year. Cunningham had worked as a technician for Mercedes-Benz before returning home when several family members fell ill. After his

Business

FHFA rollbacks and layoffs reduce support for low‑income homebuyers

Since taking over the Federal Housing Finance Agency, Bill Pulte has overseen a series of rollbacks and staff cuts that have pulled Fannie Mae and Freddie Mac away from efforts to help low‑income people buy homes. The agency has repealed rules and guidance, fired teams focused on fair lending

Business

U.S. refiners poised to gain as administration moves to control Venezuelan oil

U.S. refining companies stand to benefit if the Trump administration’s plan to assert control over Venezuela’s oil industry leads to more Venezuelan crude flowing to the United States. Venezuela’s main crude is heavy, viscous and generally cheaper than many U.S. varieties, making it attractive to

Business

UK self-assessment deadline 31 January — how to complete your 2024–25 return

The deadline to file a UK self-assessment tax return for the tax year from 6 April 2024 to 5 April 2025 is 31 January, and HM Revenue and Customs is urging people to start now rather than leave it until the last minute to avoid mistakes and busy phone lines.

Business

Silver tops $90 as US Mint halts sales; analysts see $100 ahead

Beincrypto reports that XAG surged past $90 per ounce for the first time in history, pushing US Silver Eagles above $100 per coin at dealers and prompting the US Mint to suspend all silver numismatic sales. The Mint cited extreme price volatility and an inability to accurately price products, signaling

Business

Saks Global files for bankruptcy amid heavy debt and vendor strains

Saks Global, the owner of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, filed for bankruptcy protection late Tuesday, saying it had been overwhelmed by billions of dollars in debt, fraying relationships with vendors and lagging sales. The company said it had secured roughly $1.75 billion to help finance

Business

Saks Global files for Chapter 11, putting stores and vendors at risk

Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for Chapter 11 bankruptcy protection, the company said. The filing begins a reorganization under new owners rather than a liquidation. Company insiders and analysts say the group’s large debt load, including debt taken

Business

China posts record $1.19 trillion trade surplus in 2025

China announced the world’s largest trade surplus ever for 2025, with a balance of $1.19 trillion, a 20 percent increase from 2024, according to data released by the country’s General Administration of Customs. The surplus had already exceeded $1 trillion through November, and December alone registered $114.

Business

Orsted says it will quickly finish $6.2 billion Revolution Wind after judge blocks Trump halt

Orsted’s chief executive, Rasmus Errboe, said the Danish developer would move quickly to complete the $6.2 billion Revolution Wind project off Rhode Island, a day after a judge struck down President Trump’s effort to halt the project. "We have seven turbines left to install," Mr.

Business

Banijay enters advanced talks to combine with All3Media

Banijay Group, the Paris-headquartered independent television production company behind shows such as Peaky Blinders, says it has entered discussions about a potential combination with UK-based All3Media, the maker of shows including The Traitors. The company said in a statement: “The company confirms that it has entered into discussions with the

Business

DOJ probe of Powell raises questions over Fed independence and bitcoin's role

Beincrypto reports the US Department of Justice is investigating Federal Reserve Chair Jerome Powell, a development that has renewed scrutiny of the Fed’s independence and shaken investor confidence. In an extraordinary video statement, Powell said prosecutors are probing the Fed’s renovation of its Washington headquarters and described the

Business

U.S. inflation ended 2025 at 2.7 percent, core at 2.6 percent

Consumer prices were 2.7 percent higher in December than a year earlier, or 2.6 percent when excluding food and energy, the Bureau of Labor Statistics reported on Tuesday. The release was the last consumer-price reading before the Federal Reserve meets in two weeks to debate interest rates. Surging

Business

U.S. consumer inflation held at 2.7% as Fed readies January meeting

Consumer prices were 2.7 percent higher in December from a year earlier, and core inflation excluding food and energy was 2.6 percent, the Bureau of Labor Statistics reported, leaving inflation essentially steady as the Federal Reserve prepares to meet later this month. Month to month, the CPI rose

Business

U.S. consumer prices rise 0.3% in December as grocery costs jump

U.S. consumer prices rose 0.3 percent in December and were 2.7 percent higher than a year earlier, while food prices climbed 0.7 percent for the month — the largest one‑month increase in grocery prices since October 2022. Core prices, excluding food and energy, were up 0.

Business

U.S. food prices rose 0.7% in December, biggest monthly gain since 2022

Food prices climbed 0.7 percent in December, the largest one-month increase in grocery prices since October 2022, inflation data showed, offering little relief for consumers facing higher costs at the supermarket. Compared with a year earlier, food prices were up 3.1 percent. Several categories rose in December: fruits

Business

Silver Tops $87 After US Core CPI Cools to 2.6%

Beincrypto reports that spot silver climbed above $87 to a new all-time high after US core CPI for December cooled to 2.6%, easing fears of aggressive Fed rate hikes and lifting demand for precious metals. The US Bureau of Labor Statistics said headline CPI rose 2.7% year‑over‑

Business

Working more hours no longer equals greater productivity

Time reports that working more does not make you more productive as AI promises to transform jobs and the four-day workweek movement gains steam. Historically long hours mattered in assembly-line work, but in today’s knowledge economy many tasks that fill the day add little value, the piece argues, creating

Business

Global central bankers back Fed chair Jerome Powell after criminal probe

Central bankers around the world signed a statement of support for Federal Reserve chair Jerome H. Powell on Tuesday, defending the Fed from attacks by the Trump administration that have been widely seen as trying to erode the U.S. central bank’s independence. Eleven central bankers expressed their support,

Business

Delta forecasts about 20% profit gain as premium travel demand stays strong

Delta Air Lines said it expects profits to rise by about 20 percent in 2026, citing strong demand for premium seats. The airline issued the forecast with its financial results for the final three months of 2025. Delta reported a $5 billion profit last year on more than $63 billion

Business

Goldman Sachs forecasts 11% global equity return in 2026 as Bitcoin correlation fades

Beincrypto reports Goldman Sachs projects global equities will return 11% in 2026, including dividends, driven by earnings growth and broad economic expansion. In its outlook the firm forecasts global GDP growth of 2.8% and expects the US Federal Reserve to deliver modest policy easing this year. Peter Oppenheimer, Goldman

Business

Silver holds above $80 as analysts outline what could push it to $100 in 2026

Beincrypto reports silver is holding above $80 after a roughly 20% year-to-date surge, driven by safe-haven demand, a weakening U.S. dollar and expectations of Federal Reserve rate cuts. The rally has been reinforced by strong industrial demand from electric vehicles, solar and electronics and by tight mining supply amid

Business

Trump’s push to revive Venezuela oil could help some firms but will take years

President Trump’s plans to revive Venezuela’s oil industry are likely to take years to produce large output gains, but analysts and industry officials say clear winners and losers are already emerging. Likely beneficiaries include companies already operating in Venezuela, such as Chevron, and U.S. Gulf Coast refiners

Business

Wayfair drops hidden storefront of storage-focused furniture up to 59 percent off

People reports Wayfair dropped a hidden storefront filled with space-saving furniture on sale for up to 59 percent off, offering pieces that double as storage for smaller homes. The selection includes storage benches, multi-purpose ottomans, lamps with built-in shelves, and dining tables with concealed compartments. Examples listed include the Kelly