BUSINESS

Sony raises PS5 prices by $50 in the US from 21 Aug 2025, citing tariffs and costs. Standard, Digital, and Pro models all affected.

Target CEO Brian Cornell steps down in 2026 as sales slump and DEI backlash grow. Michael Fiddelke named successor amid investor concerns.

A new Empower survey shows one-third of Americans start buying pumpkin-spice products in August, with 45% of Gen Z and millennials leading the charge despite rising seasonal costs.

Citi's global wealth chief Andy Sieg is under investigation after multiple complaints of bullying, foul-mouthed tirades, and the marginalisation of senior women at the bank.

Celebrity chef Paula Deen has closed her famed Lady & Sons restaurant in Savannah after 36 years, but despite speculation, she is not bankrupt and retains a $14m fortune.

So-called 'radioactive shrimp' have sparked panic online, with Walmart pulling the product after safety concerns. But do they really glow in the dark and what's behind the scare?

Pop Mart CEO Wang Ning says hitting a $4.2bn target in 2025 will be 'easy' after record profits and the launch of a viral new Mini Labubu collectable.

Target and Ulta Beauty's retail partnership will officially end in August 2026 after staff exposed crippling theft of up to $10k a month, chronic understaffing, and a lacklustre shopping experience.

Michael Fiddelke, Target's COO and longtime executive, has been named CEO after two decades at the retailer. He succeeds Brian Cornell as the company tackles falling sales, weaker traffic and increasing competition.

AT&T is cutting costs by £2.4 billion, forcing managers to relocate to six offices or face losing their jobs.

Viking Therapeutics shares plunged 40% after trial data for its obesity pill, VK2735, revealed high dropout rates due to side effects, raising doubts about its competitiveness against rivals Eli Lilly and Novo Nordisk.

Mercury Insurance has filed for a 6.9% rate hike in California under a new wildfire modelling law, sparking outrage as residents face soaring premiums amid a deepening insurance crisis.

Tesla's UK sales plunged nearly 60% in July, slashing market share to 0.7% as Chinese rivals like BYD surged. Discounts and energy ventures may not be enough.

Digital bank Monzo is preparing to enter the UK's mobile market, signalling a major shift that could pressure established telecoms providers.

A Chick-fil-A in Kettering, Ohio, has enforced a Teen Chaperone Policy requiring anyone under 18 to be accompanied by an adult, echoing McDonald's Brooklyn teen dining ban. The move has divided customers online.

Swatch faces criticisms in China after releasing the controversial 'slanted eyes' ad. Despite offering an apology, many consumers still want to boycott it.

MSNBC is changing its name to MS NOW as Comcast spins off cable networks into Versant, ditching the peacock but keeping its editorial stance.