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UK government moves to acquire Speciality Steel UKNewsflash: The UK government has decided to acquire the country’s third-largest steel producer.The Business Secretary Jonathan Reynolds has announced the Government will “work towards” the public acquisition of Speciality Steel UK (SSUK), after ministers decided they could not support its sale to Norwegian steel startup Blastr Green Steel.SSUK has been in liquidation since last year, and was part of Sanjeev Gupta’s Liberty Steel before its recent collapse.The company is an important part of the UK steel sector as it can make steel for use in the auto, aero and defence sectors.According to the…

BEIJING — China on Monday pushed back on calls by U.S. AI executives for companies to slow down the development of the cutting-edge technology.”Fear mongering, confrontation, competition will just disrupt [the] process of global AI governance,” Guo Jiakun, a spokesperson for China’s Foreign Ministry, said on Monday, per an English translation published by Reuters. He was responding to a question about U.S. CEOs, including Anthropic’s Dario Amodei, OpenAI’s Sam Altman and Elon Musk, calling for the industry to slow down because of the dangers rapid advances in the technology pose.China’s Minister of State Security, Chen Yixin, published an article on…

If you think high crude prices are a headache, look a little further down the energy value chain. For independent oil refiners, the stars have aligned into a once-in-a-generation bonanza. Refiners don’t care what crude costs. They care about the crack spread, the margin pocketed by turning a barrel of oil into usable fuels and chemicals. Right now, those margins look like the ultimate holiday bonus, and the stocks of independent refiners are trading near all-time highs. The disconnect between refining capacity and product fuel demand has handed refiners an extraordinarily lucrative opportunity. Rather than a fleeting seasonal spike, independent…

Free NewsletterGet the hottest Fintech Singapore News once a month in your InboxStashAway has named Nandini Joshi as its new Group CEO. Co-founder Michele Ferrario, who has led the Singapore-based digital wealth platform since 2017, moves to the role of chairman and will continue working with Joshi and the management team.Joshi has served as Deputy CEO and joined the company in 2020. Before StashAway, she spent more than two decades in consumer businesses across Europe and Asia.Michele Ferrario, the Co-Founder and Chairman of StashAway, shared in an email,Michele Ferrario“Since joining in 2020, she’s shaped much of what the company is…

A sign displays unleaded gasoline and diesel fuel prices at a Shell gas station in San Jose, California, Sept. 10, 2026.David Paul Morris | Bloomberg | Getty ImagesU.S. oil prices are again above $100 per barrel, sending gasoline prices to multi-month highs. But traders on prediction market platforms expect the amount Americans are spending at the pump will hit fresh highs this year. Gas prices peaked at $4.56 per gallon on May 21, according to AAA’s national average. Now, traders on Kalshi think there’s a 71% chance that the average will surpass $4.60 in 2026. Speculators on Kalshi also place 57% odds…

CNBC’s Jim Cramer on Friday said falling oil prices helped revive the stock market, but warned that next week’s Federal Reserve meeting could quickly change the outlook for investors.”Thank heavens oil went down today,” the “Mad Money” host said. “It changed everything.”Stocks rebounded Friday as oil prices retreated, helping the major averages recover some of their losses after four straight down sessions. The Dow Jones Industrial Average traded 509 points higher, or 0.98%, while the S&P 500 and Nasdaq Composite gained 0.86% and 0.96%, respectively. Technology stocks helped lead the recovery, thanks to positive updates from Adobe and Oracle after…

Hundreds of UK hospitality businesses, backed by celebrity chefs including Angela Hartnett and Heston Blumenthal, have asked Andy Burnham to lay out plans to lower VAT for the sector, urging him to make good on his previous pledge.More than 800 businesses have written an open letter to the prime minister as part of the #VATsTheProblem campaign, to warn that without a “fairer tax burden for hospitality”, there will be more closures and job losses, and fewer opportunities for young people.The signatories include pubs, bars and brewers such as Fuller’s, Greene King, Mitchell’s & Butlers and Wetherspoons, along with restaurant groups…

Kurt Kelty, GM’s vice president of battery and sustainability, speaks June 9, 2026, during the automaker’s “Empower” event in which it announced the development of sodium-ion batteries for energy storage systems.Courtesy GMDETROIT — General Motors is in the early stages of developing next-generation battery cells that the company believes can reduce U.S. dependence on China, while boosting domestically sourced materials.”We’re developing a supply chain such that, two years from now, three years from now, it will be domestic,” Kurt Kelty, GM vice president of battery and sustainability, told CNBC during an exclusive interview. “That’s what we’re aiming for — when…

Tailoring Third-Party Risk Management to the Risks That Matter Most Bolstering Core Service Providers’ Transparency in Community Bank Engagements WASHINGTON–The Office of the Comptroller of the Currency today continued to empower community banks and reduce their burden with a proposal to tailor third-party risk management to actual risk, and by providing greater clarity regarding supervision and enforcement of core service providers. The OCC’s proposed guidance would help banks focus their resources on third-party relationships based on the magnitude and likelihood of potential harm actually posed by each relationship, while tailoring risk management to each bank’s size, complexity, and risk profile.…

Key Points Interested in Cognizant Technology Solutions Corporation? Here are five stocks we like better. AI and weak discretionary spending are pressuring IT-services growth, but Cognizant’s banking, financial services and insurance business delivered double-digit growth in the second quarter. AI is reshaping competition, delivery models and staffing: Cognizant said 40% of software-engineering work is AI-assisted, while industry employment is expected to remain largely flat over the next 18–24 months. Cognizant reported 5% trailing-12-month bookings growth, plans gradual margin improvement and will maintain its 50/25/25 capital-allocation framework, including a recently accelerated $1 billion buyback. Cognizant Technology Solutions (NASDAQ:CTSH) CFO Jatin Dalal…