Business

Trump's new tariffs on 80+ countries took effect Friday, imposing 10% on nations with forced labor bans and 12.5% on others. Analysts warn of higher consumer prices but say the economic shock may be limited.

The UK government has officially nationalised the Scunthorpe steelworks under emergency powers, bringing British Steel into public ownership to safeguard domestic steel production.

Billionaire investor Warren Buffett has stopped making donations to the Bill and Melinda Gates Foundation, weeks after Bill Gates appeared before the US Congress over his ties to Jeffrey Epstein.

German discount supermarket Aldi is pushing into US urban markets including Manhattan with a $9bn investment, betting its $4 almond butter and low-price model can challenge Walmart.

Global markets tumbled on July 8, 2026 as Iran and the US traded fresh strikes. Brent crude surged from $72 to $78 per barrel, S&P 500 futures fell 0.82%, while Asian markets led by South Korea's KOSPI dropped over 5%. Gold also fell unusually, slipping 2.24% to $4,066 per ounce.

The Australian Competition and Consumer Commission is suing Amazon, alleging the tech giant imposed unfair contract terms on subscribers and broke Australian consumer protection law.

Ferrari's marketing director has stepped down just weeks after the launch of the Luce, the luxury carmaker's first all-electric vehicle. The model's design attracted fierce criticism from Ferrari enthusiasts and the automotive press, with many calling it a departure from the brand's iconic aesthetic.