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Starbucks pours a bitter brew: Plans laying off 300 workers in $400 m restructuring
Starbucks is laying off approximately 300 US-based roles as it consolidates its office network and shutters several locations. This move is part of a broader strategy to achieve "durable, profitable growth" by reducing complexity and costs. The company expects additional international job cuts as it reviews its global support structure.
Google’s Android Upgrade—Why You Need A New Phone In 2026
InnovationCybersecurityGoogle’s Android Upgrade—Why You Need A New Phone In 2026ByZak Doffman,Contributor.Forbes contributors publish independent expert analyses and insights. Zak Doffman writes about cybersecurity, surveillance and privacy.Follow AuthorMay 16, 2026, 04:39am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.All change for Android gettyBad news for hundreds of millions of owners of Android smartphones. It tur...
Reeves to overhaul ring-fencing regime in a bid to boost the UK economy
The Treasury is set to unveil a sweeping overhaul of the ring-fencing regime next week, in a bid to protect depositors at the UK’s biggest retail banks, as ministers scramble to boost economic growth. According to reports in Sky News, Chancellor Rachel Reeves has signed off plans aimed at unlocking billions of pounds of additional lending capacity at five high street giants. Barclays, HSBC, Lloyds Banking Group, Natwest and Santander UK will all be subject to the rules. Both government and...
Sri Lanka raises tax on imported cars as Middle East crisis bites
Sri Lanka slapped a 50 percent surcharge on customs duties on vehicles Saturday in a bid to discourage imports and ease currency pressure stemming from the Middle East conflict.The increase in taxes comes as the local rupee has sharply depreciated since the start of US and Israeli attacks on Iran, which prompted retaliation by Tehran.Get updated faster and for FREE: Download the Gulf News app now - simply click here. "Given the current pressure on foreign exchange, we want people to delay their...
'Not easy to replace Rohit Sharma': Ashwin on Pandya captaincy and MI struggles
Mumbai Indians have endured a disappointing IPL 2026, failing to reach the playoffs after just four wins in 12 matches. Captain Hardik Pandya has faced criticism for his batting and leadership, but Ravichandran Ashwin defended him, stating it's unfair to solely blame the captain when the team has underperformed collectively.
UAE motorist alert: Dubai Police alert drivers after Sheikh Zayed Road accident
DUBAI: Dubai Police issued a traffic advisory following a road accident on Sheikh Zayed Road after Expo Bridge in the direction of Abu Dhabi.Motorists have been urged to exercise caution, follow traffic instructions, and allow safety teams to manage the situation. #حالة_الطرق | #حادث مروري على شارع الشيخ زايد بعد جسر إكسبو بالاتجاه إلى أبوظبي، رافقتكم السلامة. pic.twitter.com/LQrzIq84cg— Dubai Policeشرطة دبي (@DubaiPoliceHQ) May 16, 2026 Authorities also advised drivers to maintain safe distan...
Sindh also lifts curbs on market timings; minister says takes to facilitate businesses, citizens
Sindh Senior Minister Sharjeel Memon on Saturday said that the provincial government had exempted shops, markets, malls, hotels, restaurants, wedding halls and marquees from fixed closing timings to “facilitate businesses and citizens”. According to the notification, which he shared on the social media platform X, all shops, markets, shopping malls, hotels, restaurants, food outlets, marriage halls, and marquees have been exempted from the 9pm closing time, which was enforced last month. “This d...
UAE skilled private-sector workforce grows 1.5%
Dubai: The UAE recorded fresh growth in its skilled private-sector workforce during the first quarter of 2026, with numbers rising by 1.5 per cent, thanks to the continued momentum of the country’s labour market and its ability to attract specialised talent from around the world despite ongoing global economic and geopolitical pressures.Latest figures released by the Labour Market Observatory at Ministry of Human Resources and Emiratisation showed continued expansion in the number of skilled wor...
California governor proposes software tax like UK & Canada announced on US companies
California Governor Gavin Newsom has proposed expanding the state's sales tax to include digital prewritten software, aiming for parity with physical software sales. This move could impact software and SaaS companies, drawing comparisons to digital services taxes in other countries. The proposal, if approved, is projected to generate significant revenue for the state.
India-Brics trade booms to $416 billion, but deficit keeps rising
India's trade with BRICS countries surged over five years, with imports growing significantly faster than exports. This has led to a near doubling of India's trade deficit with the bloc, now reaching $224 billion, primarily driven by increased purchases from Russia and China.
Record numbers of UK renters crowdfunding to cover bills
Rent donations on GoFundMe up 60% since 2022, with 100,000 donors helping people keep a roof over their headsA record number of people in the UK are turning to crowdfunding to cover rent and household bills, with GoFundMe reporting more rent-related fundraisers were created in April than in any month on record.The platform said donations towards rent support had risen by 60% since 2022, with more than 100,000 people a month contributing to help others meet their housing costs. Continue reading.....
UK Rich List 2026: David Beckham becomes first British billionaire sportsman
London: Former David Beckham and England star has become Britain’s first billionaire sportsman, according to the 2026 Sunday Times Rich List. Beckham and his wife Victoria Beckham’s collective wealth reached an estimated GBP1.185 billion ($1.583 billion) this year, the Rich List compilers said. The couple moved into second place among the UK’s wealthiest sports figures, behind the family of former Bernie Ecclestone chief executive, whose wealth was valued at GBP2 billion. Get updated faster and...
Popular airline slashes Aussie routes to Bali as price of jet fuel skyrockets
Popular airline slashes Aussie routes to Bali as price of jet fuel skyrocketsREAD MORE: Air Asia flight is forced to make emergency landing By MATT JONES, SENIOR NEWS REPORTER, AUSTRALIA Published: 06:27, 16 May 2026 | Updated: 06:27, 16 May 2026 e-mail View comments
Octopus Energy to offer free electricity when power surges on the grid
Octopus Energy is expanding its free electricity scheme for customers during periods when renewable power generation exceeds demand on the national grid.The supplier said the initiative is designed to reduce wasted renewable energy while helping households lower their electricity costs at certain times of the day.The move comes after Britain spent close to £1.5billion last year compensating wind farms to switch off turbines when the grid could not absorb excess electricity generation.Periods of...
UK restaurant chain crashes into administration - 101 jobs lost
UK restaurant chain crashes into administration - 101 jobs lostA popular UK Italian restaurant chain has entered administration, revealing in a statement that all of its restaurants are now closed. Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Alycia McNamara, News Reporter, Brian Dillon, Audience Writer 05:00, Sat, May 16, 2026 The restaurant chain was based in London (Image: Getty)A popular Italian res...
Audemars Piguet x Swatch Royal Pop Dubai release called off in Dubai Mall and Mall Of The Emirates over public safety concerns
Dubai: The highly anticipated Royal Pop launch — a collaboration between luxury watchmaker Audemars Piguet and Swatch — scheduled for May 19 in Dubai, has been cancelled due to public safety concerns."In view of public safety considerations, we have decided not to proceed with the sale of the product at Dubai Mall and Mall Of The Emirates, and the event has been cancelled," said a post on Swatch's regional Instagram account.No new date of the launch has been revealed. Meanwhile, social media act...
Trump, Boeing say China agreed to buy 200 aircraft, reopening a key market for the US planemaker
Aircraft manufacturer Boeing will make its first major sale to China in nearly a decade with an order for 200 planes, President Donald Trump told reporters Friday as he flew back from his summit with Chinese President Xi Jinping.Speaking to reporters aboard Air Force One, Trump said China reserved the right to buy as many as 750 Boeing aircraft as part of a deal reached during the summit. The White House did not specify the types of planes or provide any other details.Neither the Chinese governm...
VinFast Seeks to Shed Most Debt With Vietnam Factory Spinoffs
VinFast Auto Ltd. said its planned sale of two Vietnamese factories will enable the electric vehicle maker to shed about 182 trillion dong ($6.9 billion) in debt and obligations while potentially speed its path toward profitability.
A new fiscal compact
PAKISTAN’S forthcoming budget confronts a difficult reality. The formal economy is overtaxed, investment remains weak, exports struggle to compete regionally, and salaried individuals face rising tax burdens even as inflation erodes purchasing power. Yet meaningful tax relief appears fiscally difficult at a time when economic growth is slowing, debt servicing costs remain elevated and IMF discipline continues to constrain policy choices. This dilemma has triggered an important national debate. I...
The oil shock
THE oil shock is real, with the whole of the Middle East affected, oil and financial markets shaken, consumer prices shooting up, and several economies struggling to deal with the wider repercussions of the war between US-Israel and Iran. The intersection of oil is a defining factor in the ongoing conflict that will reshape global geopolitics and economic partnerships. It is crucial to understand that the ‘oil factor’ remains a primary strategic lever in determining the duration, intensity, imp...