Business news

Trump administration announces new tariffs as small businesses show resilience from prior

The Trump administration announced new tariffs ranging from 10% to 12.5%, but U.S. small businesses are largely unmoved compared to previous rounds that reached 145%. Lower rates, $122 billion in refunds from prior tariffs, and confidence in court challenges have made the latest levies less disruptive. Business owners say they have adapted through supply chain innovations and alternative sourcing strategies.

The Guardian Australia – Business · 2 days ago

Trump invokes Smoot-Hawley Act to impose fifty percent Canadian tariffs

Trump invoked the 1930 Smoot-Hawley Tariff Act's Section 338 to impose a 50% tariff on Canadian imports, establishing a precedent that may prove difficult to challenge legally. The statute grants the president broad authority to impose duties whenever he determines the U.S. faces trade disadvantages. Legal experts warn this interpretation could enable sweeping tariffs on any country.

The Guardian Australia – Business · 2 days ago

Water shortages threaten England's ambitious new housing development targets across regions

England's government housebuilding targets face serious obstacles from water shortages and failing infrastructure, particularly in the drought-stricken south and east. Council leaders warn they cannot meet demands to build over 1,000 homes annually in areas like Basingstoke without sufficient water supplies. Environmental groups say roughly a third of England lacks available river water for new development under normal conditions.

The Guardian Australia – Business · 2 days ago

Fuel tax discount expires, pushing petrol prices up 16 cents nationwide

Australia's temporary fuel tax discount expires at midnight Monday, pushing petrol prices up roughly 16 cents per litre and diesel by 17 cents. Unleaded fuel is expected to exceed $2 per litre nationwide, with increases taking weeks to fully flow through service stations and supermarkets. Motorists are urged to fill up only as needed to avoid panic buying.

7 News – Business · 2 days ago

Capital One says it closed Trump Organization’s accounts after anti-money-laundering review

Capital One cited anti-money-laundering concerns Friday in defending its 2021 decision to close Trump Organization accounts, marking the first time a bank formally tied such concerns to Donald Trump's business. The bank said its AML team conducted months of analysis before closing over 300 Trump-affiliated accounts. The Trump Organization sued Capital One in March 2025, claiming political discrimination.

The Guardian Australia – Business · 2 days ago

California announces minimum wage increase as governor taunts Trump

California Governor Gavin Newsom announced Friday the state's minimum wage will rise to $17.40 on January 1, becoming the nation's highest. The increase from the current $16.90 follows years of growth since Newsom took office in 2019, when the minimum was $12. Newsom criticized the federal minimum wage of $7.25, last raised during the Bush administration.

The Guardian Australia – Business · 2 days ago

Trump offering early access to online posts in move seen as corruption

Donald Trump's Truth Media launched a paid subscription service Saturday offering early access to his posts for up to $100,000 monthly, drawing accusations of corruption and market manipulation. Critics argue the service lets wealthy traders profit from Trump's market-moving announcements before other investors. Democratic senators have urged the SEC to investigate whether the company violates securities.

The Guardian Australia – Business · 2 days ago

Marks & Spencer launches Ann Summers crotchless knickers targeting younger shoppers

Marks & Spencer is selling Ann Summers crotchless knickers online, drawing outrage from some customers. The partnership reflects M&S's decades-long evolution in underwear offerings, from full briefs to thongs and period knickers. Retail experts say the move targets younger shoppers, who comprised one-third of underwear sales in 2024, double the previous year's share.

The Guardian Australia – Business · 3 days ago

‘Proteinmaxxing’ could lead to higher prices for infant formula, say experts

Rising demand for whey protein from "proteinmaxxing" consumers and weight-loss drug users is driving up costs for a key infant formula ingredient, experts warn. Whey protein concentrate prices more than doubled to €25,875 per metric tonne from €11,733 in July 2025. Manufacturers say unsustainable ingredient costs will force further consumer price increases unless raw material prices decline.

The Guardian Australia – Business · 3 days ago

ECB official warns climate crisis poses growing threat to ‘core financial stability’

ECB executive board member Frank Elderson warned Wednesday that climate change and ecosystem collapse pose growing threats to financial stability. Elderson said the central bank is stepping up monitoring of financial risks from destruction of ecosystem services—nature-related processes supporting human activity. He emphasized that assessing nature-related risks to banks' credit exposure requires more work than evaluating single extreme weather events.

The Guardian Australia – Business · 3 days ago

US Treasury considers first yen intervention since 2011 after Bessent's leaked Camp

US Treasury Secretary Scott Bessent's visible notepad at Camp David on Friday revealed a plan to buy $5-10 billion in Japanese yen, photographed by Reuters during a cabinet meeting. The notation suggested potential currency market intervention, which hasn't occurred since 2011. Japan's authorities had separately supported the yen earlier Friday.

The Guardian Australia – Business · 3 days ago

Dogs trained to sniff black truffles worth thousands in New South Wales

Pet dogs in New South Wales are being trained to sniff out black truffles worth $2,000 per kilogram, with successful hunters locating up to 60 truffles per hour. Trainer Kate Le Bars uses synthetic truffle-scented cotton balls in classes near Narooma, rewarding dogs.

ABC News – Business · 3 days ago

Washington Post’s opinion editor resigns after just one year in role

Adam O'Neal resigned Friday as Washington Post opinion editor after one year, giving no reason for his departure effective August 31. O'Neal, hired to lead the section's controversial reorientation toward free markets and personal liberties championed by owner Jeff Bezos, cited pride in accomplishments without explanation. His exit marks another leadership shakeup at the publication following February's major layoffs.

The Guardian Australia – Business · 3 days ago

UK Chancellor Healey announces October budget with VAT and business rate cuts

UK Chancellor John Healey set an autumn budget for October 28, pledging to "spread money and power" beyond Westminster while adhering to fiscal rules. Prime Minister Andy Burnham has announced VAT cuts on energy, business rate cuts for venues, and regional tax-sharing devolution.

The Guardian Australia – Business · 3 days ago

UK petrol price hits Iran war high, adding to pressure on households

UK petrol prices hit 160p per litre on Friday, the highest level since November 2022, as Middle East tensions escalated. Diesel rose 14.5p to 179p, with further increases expected. The RAC warned the surge adds financial pressure on households during peak holiday season, reversing earlier gains from ceasefire announcements.

The Guardian Australia – Business · 3 days ago

Trump convenes Cabinet meeting at Camp David amid Iran conflict

President Donald Trump convenes a Cabinet meeting at Camp David today amid ongoing military conflict with Iran and rising gasoline prices ahead of November midterms. This marks only his third Camp David visit during his second term, with press secretary Karoline Leavitt calling it the 13th Cabinet meeting.

The Guardian Australia – Business · 4 days ago

Sainsbury’s to sell Argos to three retail veterans in £120m deal

Sainsbury's agreed Friday to sell Argos retail chain to Swift Partners, a new company formed by retail veterans Richard Pennycook, Trevor Strain and Matt Truman, for £120 million. The supermarket bought Argos over a decade ago for more than £1 billion but struggled with the non-food business.

The Guardian Australia – Business · 4 days ago

Britain installs record solar panels as households dodge soaring energy costs

Great Britain installed 142,536 solar panels in the first half of 2026, the highest six-month total since 2011, as households seek to reduce energy bills amid soaring fossil fuel costs. Energy supplier E.ON Next reported a 151 percent rise in home solar installations compared with the same period last year. The surge reflects growing demand for low-cost renewable energy alternatives.

The Guardian Australia – Business · 4 days ago

Suffolk wildfire near Sizewell nuclear plant ‘stabilising’ after 24 hours

A wildfire near Britain's largest nuclear power station stabilised after burning for more than 24 hours near Leiston, Suffolk. More than 100 firefighters battled the blaze across 150 hectares while a helicopter dropped seawater on the flames. About 50 residents evacuated as the fire, which broke out Wednesday evening, posed no immediate threat to Sizewell B operations.

The Guardian Australia – Business · 4 days ago

UK house prices rise 0.1% in July as buyer caution persists over

UK house prices rose 0.1% in July to an average of £277,542, with annual growth slowing to 1.8%, Nationwide said Thursday. Buyer caution over interest rates and geopolitical tensions dampened demand during the traditional peak season. The Bank of England held rates at 3.75% but warned escalating conflict could push inflation above 4%.

The Guardian Australia – Business · 4 days ago

BP seeks buyer for North Sea business as political disputes intensify over

BP is seeking a buyer for its North Sea business amid political disputes over future drilling licences. International Airlines Group reported steep profit declines and expects no passenger capacity growth this year, citing increased fuel costs from Middle East tensions and regional instability affecting demand.

The Guardian Australia – Business · 4 days ago

Will prediction market ‘catch fire’ in UK, replicating US boom?

UK prediction markets like Polymarket are attracting British gamblers despite regulatory barriers, exploiting loopholes similar to those used in the United States. The platforms, which rebranded sports betting as financial trading, sidestepped US state restrictions after 2018. UK regulators have stated prediction markets require gambling licenses, yet consumers easily access them, raising concerns about inadequate oversight of cross-border betting platforms.

The Guardian Australia – Business · 8 days ago

Small businesses deploy AI to boost productivity while maintaining workforce growth

Small businesses are deploying AI to enhance worker productivity rather than replace jobs, according to recent trends. A windows company invested $10,000 in AI that helps salespeople handle more customers with fewer errors, while another used Claude to speed customer support. Labor data shows 9% employment growth since mid-2021, with small firms planning continued hiring amid worker shortages.

The Guardian Australia – Business · 9 days ago

UK consumer confidence surges fastest in nearly three years after Starmer appointment

UK consumer confidence surged in June at its fastest monthly pace in nearly three years, buoyed by new Prime Minister Keir Starmer's appointment and measures including VAT cuts on energy bills.

The Guardian Australia – Business · 9 days ago

Thames Water investors offer ‘golden share’ in bid to head off nationalisation

Thames Water investors offered the government a "golden share" on Tuesday to prevent nationalisation of Britain's biggest water company. The £17bn debt-holding consortium would grant ministers veto power over major decisions and hostile takeovers as part of a revised £10bn rescue package.

The Guardian Australia – Business · 14 days ago