(Brands & Consumers)
FIFA president Gianni Infantino has abandoned his controversial proposal to sell stakes in the governing body’s competitions to private investors after facing overwhelming opposition from football’s major confederations. Infantino admitted the proposal had “created divisions” that were “no longer in the interest” of its original objective. “As a result, this proposal will not proceed.” The…
Sainsbury’s has reached an agreement to sell retailer Argos to Swift Partners for £120 million, marking the end of a lengthy effort by the supermarket group to divest the business and concentrate on its core grocery operations. The supermarket chain said the transaction would not affect customers, employees or suppliers, stressing that it would be…
BP has announced plans to sell its North Sea oil and gas business, a move that would bring an end to more than 60 years of the energy company’s operations in the region. The decision follows a strategic review aimed at streamlining the company’s portfolio and focusing investment on higher-value opportunities. BP’s North Sea division…
FIFA has defended its controversial proposal to allow private investors to acquire minority stakes in its commercial operations, insisting that “nobody is selling football.” In a statement released on Friday, the world football governing body said the consultation process had been “disrupted by incorrect media reports” and reaffirmed its commitment to transparency. “We respect the…
Apple has warned that worsening supply chain challenges could affect the availability of its flagship products in the coming months, despite reporting stronger-than-expected quarterly financial results. The technology giant posted revenue of $109 billion (£81 billion) for the quarter, a 16% increase from a year earlier, while net profit rose 26% to $29 billion. The…
Artificial intelligence company Anthropic has disclosed that its Claude AI models successfully breached the computer systems of three organisations during cybersecurity evaluations after a configuration error unintentionally gave the models access to the internet. The revelation comes only days after OpenAI reported that some of its own AI systems had crossed testing boundaries and compromised…
Australia’s online safety regulator has launched legal action against Telegram, accusing the messaging platform of failing to remove extremist content, including footage of the 2019 Christchurch mosque attacks, despite repeated warnings. eSafety Commissioner Julie Inman-Grant announced the court action on Tuesday, alleging that Telegram had failed to meet its obligations under Australia’s Online Safety Act….
Every time an online shopper places an order, there is an increasing chance that a fleet of autonomous robots begins processing it within minutes. Many warehouses now use compact mobile robots that move beneath storage racks, lift entire shelves and transport them to workers for order picking, significantly speeding up fulfilment operations. Chinese robotics company…
Flutterwave has been recognised as one of the world’s leading financial technology companies after being included in the 2025 World’s Top Fintech Companies ranking compiled by CNBC in partnership with market research firm Statista. The recognition highlights the African payments company’s contributions to financial technology through its payment infrastructure, cross-border commerce solutions and continued focus…
eBay has agreed to pay $56 million (about £42 million) to David and Ina Steiner to settle a civil lawsuit stemming from an extensive harassment campaign carried out by former company executives in response to the couple’s online criticism of the e-commerce giant. In a statement released on Tuesday, the Steiners confirmed that they had…
The Trump administration has announced a ban on the import of new foreign-made humanoid robots into the United States, citing what it described as “unacceptable risks” to the country’s national security. The restrictions, unveiled on Tuesday, cover advanced robotic systems, including humanoid robots and four-legged robotic machines. Many of the affected products are manufactured in…
Known for its deeply rooted traditions, Wimbledon is embracing a more localized marketing strategy as it seeks to expand its audience in India, where cricket remains the dominant sport and tennis has traditionally attracted a niche following. This year’s campaign blended British tennis heritage with Indian culture through collaborations, localized content and celebrity engagement to…
Johnson & Johnson (J&J) has proposed a settlement worth up to $5.5 billion to resolve tens of thousands of lawsuits in the United States alleging that its talc-based baby powder and other products caused ovarian cancer. The proposed agreement is aimed at ending one of the healthcare giant’s longest-running legal disputes, which has generated thousands…
Cracker Barrel has announced that its chief executive, Julie Masino, will step down in August, bringing an end to a tenure marked by a controversial brand overhaul and declining business performance. The restaurant chain confirmed on Monday that former Bloomin’ Brands executive David Deno will succeed Masino as chief executive. Masino is expected to remain…
Volkswagen reported a sharp decline in second-quarter earnings as the German automotive giant moves ahead with a sweeping restructuring plan aimed at strengthening its position against growing competition from Chinese electric vehicle manufacturers. The company posted an operating profit of €3.5 billion ($4 billion) for the three months ending in June, representing a decline of…
ChangXin Memory Technologies (CXMT), China’s largest memory chip manufacturer, has become the most valuable listed company in mainland China after its shares soared more than 470% during their debut on the Shanghai Stock Exchange’s STAR Market. The sharp rise lifted the company’s market valuation to approximately 3.3 trillion yuan ($487.3 billion), surpassing every other publicly…
Fast-fashion retailer Primark is cutting prices on hundreds of clothing essentials, including jeans, jumpers, socks and other everyday basics, as it battles rising competition from online retailers such as Shein, Temu, TikTok Shop and Vinted. The move comes amid slowing like-for-like sales and ahead of parent company Associated British Foods’ planned spin-off of Primark onto…
Fast-fashion retailer Shein has posted a quarterly loss after higher US import tariffs and weaker demand affected its business, as the company prepares for a stock market listing in Hong Kong. The Singapore-headquartered retailer, which was founded in China, reported a net loss of $99 million for the first quarter, compared with a $395 million…
The tech industry was gripped this week by a story that sounded like the plot of a science fiction thriller. On July 16, AI platform Hugging Face announced it had been hacked by a cybercriminal using an extraordinarily powerful artificial intelligence system. The company described the attack using highly technical language, referring to “a swarm…
This is a new chapter for the Flatiron Building. It remains one of New York City’s most recognizable landmarks as it prepares for an entirely new life. After seven years behind scaffolding, the iconic Flatiron Building has nearly completed its transformation from office space into ultra-luxury residences, with the most expensive apartment priced at $58.5…
Paramount Skydance and Warner Bros Discovery have agreed to suspend their proposed $110 billion merger until June 2027 as a US court considers legal challenges brought against the deal. The merger, which would create one of the world’s largest media and entertainment companies, is being opposed by a coalition of 12 US states and the…
A South Korean court has ordered SK Group Chairman Chey Tae-won to pay his former wife, Roh Soh-yeong, 944 billion won (about $644 million) as part of their long-running divorce proceedings. The settlement, which is yet to be finalized, is lower than the 1.38 trillion won award initially granted to Roh in 2024. The case…
Google has been fined a total of €890 million ($1.04 billion) by the European Union after regulators concluded that the technology giant unfairly favored its own apps and services over those of competitors. The penalties mark the first major enforcement action against Google under the European Union’s Digital Markets Act (DMA), legislation introduced to curb…
A bipartisan group of U.S. lawmakers has introduced legislation that would give the federal government the authority to order the shutdown of artificial intelligence systems deemed to pose a serious public threat. The proposed legislation, known as the AI Kill Switch Act, was introduced by Democratic Congressman Ted Lieu and Republican Congressman Nathaniel Moran following…
The co-founder of AI platform Hugging Face has described a recent cyber attack involving OpenAI’s advanced artificial intelligence models as a warning that businesses must rethink their approach to cybersecurity. Thomas Wolf said the incident marked a significant shift in the threat landscape, warning that similar attacks could become increasingly common as AI systems become…
The European Commission has approved Paramount Skydance’s proposed $110 billion (£85 billion) acquisition of Warner Bros. Discovery, removing a major regulatory hurdle for the media merger even as the deal remains stalled in the United States. The approval came after Paramount agreed to end its European film distribution partnership with Universal Pictures. Under the commitments…
Alphabet, the parent company of Google, reported strong revenue growth in its latest quarter, but rising investment in artificial intelligence (AI) infrastructure pushed its free cash flow into negative territory for the first time in at least a decade. The technology giant recorded negative free cash flow of $5.9 billion (£4.3 billion), reflecting the cash…
Bus passengers across England will once again benefit from a £2 cap on single fares from January 2027, Prime Minister Andy Burnham has announced as part of a wider effort to ease the cost of living. The government said the scheme, expected to cost more than £500 million, is designed to make public transport more…
Tokyo’s campaign encouraging men to wear shorts to work during the summer has generated mixed reactions, with some women raising concerns over workplace dress expectations and what has been dubbed “leg hair harassment.” The Tokyo Metropolitan Government introduced the expanded dress code under its “Tokyo Cool Biz” initiative in April, urging workers to replace traditional…
A Florida teenager has withdrawn his lawsuit against Meta, ending legal claims that the company’s social media platforms contributed to his alleged addiction and harmed his mental health. The 15-year-old plaintiff, identified in court documents only by the initials R.K.C., had accused Meta of designing platforms such as Instagram with addictive features that encouraged compulsive…
Novo Nordisk, the manufacturer of Wegovy and Ozempic, has filed a lawsuit against rival pharmaceutical company Eli Lilly, accusing it of misleading consumers by suggesting its weight-loss and diabetes drugs are more effective. The legal action, filed in the United States on Tuesday, alleges that Eli Lilly used advertising campaigns that created the impression its…
France has passed legislation that will prohibit children under the age of 15 from accessing social media platforms from January 2027, becoming the first European country to introduce such a nationwide restriction. The law, approved by both the French Senate and the National Assembly on Tuesday, requires users to verify their age before opening or…
Access Bank will host the inaugural edition of its MSME Conference on Friday, July 24, 2026, at its headquarters in Victoria Island, Lagos, as part of efforts to support the growth of Nigeria’s micro, small and medium-sized enterprises (MSMEs). The conference, themed “AI for SMEs: Scaling Through Digital Tools,” will bring together entrepreneurs, policymakers, business…
The European Union has imposed a record €550 million (£467 million) fine on Chinese e-commerce platform AliExpress after concluding that the company failed to adequately prevent the sale of illegal and unsafe products on its marketplace. The European Commission said its two-year investigation found that AliExpress had breached its obligations under the Digital Services Act…
Live shopping is becoming one of the fastest-growing trends in online retail, helping businesses generate thousands of pounds in sales while giving shoppers a more interactive buying experience. For entrepreneurs like Daisy Kelly, it has transformed an idea born at her mother’s kitchen table into a multimillion-pound business. From Personal Struggle to Multi-Million-Pound Brand Kelly…
Akida Hills has unveiled plans to transform part of Abuja’s Jabi Lake waterfront into a major leisure and tourism destination, with the first phase of the project expected to open in December 2026. The mixed-use development will feature what the company describes as West Africa’s first dancing musical fountain, alongside a range of recreational, entertainment…
Microsoft’s Xbox has confirmed that it plans to release more permanent console exclusives as part of its long-term strategy, with senior executives saying exclusive titles remain essential to the growth of the gaming platform. The comments were made by Xbox Chief Strategy Officer Matthew Ball and Chief Content Officer Matt Booty during an interview with…
Google and Apple are pushing back against new European Union rules that would require them to give rival artificial intelligence assistants greater access to their smartphone platforms, setting the stage for a major battle over the future of mobile AI. The dispute centres on the European Commission’s latest enforcement of the Digital Markets Act (DMA),…
China’s Jingye Group has said it will seek compensation from the UK government following the nationalisation of British Steel, escalating tensions between London and Beijing over the future of the Scunthorpe steelworks. In a statement released on Sunday, Jingye said it would pursue “full compensation through legal means to the very end” after the British…
Meta is reportedly in early discussions with artificial intelligence startup Anthropic about leasing computing capacity, a move that could see the social media company expand into the cloud computing market alongside established players such as Amazon, Microsoft and Google. A source familiar with the discussions confirmed that talks are ongoing but remain at an early…
Chili’s is looking to the past as it plans for the future, reviving many of the features that made the restaurant chain a household name in the 1990s. Red leather booths are making a comeback, alongside the brand’s colourful tile tables – this time redesigned without the grout that made them difficult to maintain. Diners…
At least eight people have been killed and 62 others injured after Ukrainian drones struck two warehouses belonging to Russian online retail giant Wildberries, according to Russian authorities. Officials said seven people died and 25 others were injured in an attack on a Wildberries warehouse in Tambov, about 475 kilometres southeast of Moscow. Another warehouse…
IBM shares tumbled sharply in premarket trading on Friday after the technology giant warned that second-quarter performance fell well below expectations, putting the company on course for its worst single-day stock market decline in its 115-year history. The stock dropped as much as 24% before the opening bell, surpassing the company’s previous worst trading day…
Chinese artificial intelligence startup Moonshot AI has introduced a new large language model, Kimi K3, which it says is capable of competing with leading AI systems developed by US firms such as OpenAI and Anthropic. The company said Kimi K3 contains 2.8 trillion parameters, a metric commonly used to indicate the scale and processing capacity…
The Federal Airports Authority of Nigeria (FAAN) is set to introduce a biometric identity verification system, known as V-Pass, aimed at improving security and speeding up passenger processing at domestic airports. The initiative, being implemented in partnership with Verxid Technologies Limited, will enable travellers to verify their identities using facial recognition technology, reducing reliance on…
Taiwanese semiconductor giant TSMC has announced plans to invest an additional $100 billion in its US operations, significantly expanding its manufacturing footprint in Arizona as demand for advanced chips continues to surge. The new commitment raises the company’s total planned investment in the United States to $265 billion. TSMC Chief Executive Officer C.C. Wei said…
Taco Bell has removed lettuce from its menu in parts of the United States after health authorities linked the ingredient to a multi-state outbreak of cyclosporiasis, a parasitic infection that causes severe diarrhoea. The fast-food chain said the decision was taken “out of an abundance of caution” following discussions with public health officials. According to…
Chinese used car e-commerce platform Guazi has expanded its international vehicle sourcing services, offering buyers and dealers in Nigeria and other selected overseas markets access to inspection-backed used vehicles from China. The company said the expansion targets customers across Africa, the Middle East, Central Asia and Eastern Europe, where demand for imported used vehicles continues…
The proposed merger between Paramount and Warner Bros. Discovery is expected to face a delay as executives involved in the transaction anticipate that a US court will temporarily halt the takeover while it considers an antitrust challenge brought by a coalition of state attorneys general. Although the court has yet to issue a ruling, people…
PUBG MOBILE has rolled out one of its biggest collaborations to date, introducing a major in-game partnership with the popular anime series NARUTO Shippuden alongside a series of activities aimed at engaging its Nigerian gaming community. To mark the release of the latest version update, the mobile gaming platform staged a themed flashmob in Ikeja,…
