Pocock urges CGT changes as Albanese laughs off AI meme campaign 19. May 2026 (10:23) Independent senator warns budget reform could drive tech investment offshore, as PM thanks startups for ‘very flattering’ imagesGet our breaking news email, free app or daily news podcastAnthony Albanese has laughed off an AI-generated meme campaign against capital gains tax changes from startup founders, thanking them for “very flattering” doctored photos of him working in their businesses.But independent politicians representing some of Australia’s startup hotspots have raised alarm over the proposed increase to capital gains tax, warning the tax changes could see innovative companies and tech firms move overseas to chase higher rewards. Continue reading...(The Guardian)
Energy bills will rise by £209 in July to £1,850 a year, forecast says 19. May 2026 (10:20) Cornwall Insight predicts rise in price cap of nearly 13% in Great Britain as Iran war pushes up gas costsBusiness live – latest updatesEnergy bills for households in Great Britain could increase by more than £200 a year to almost £1,900 from this summer in “a kick in the teeth” for millions struggling with the cost of living crisis.A typical gas and electricity bill is forecast to reach £1,850 a year from July under the industry regulator Ofgem’s quarterly price cap, according to analysis by the energy consultancy Cornwall Insight. Continue reading...(The Guardian)
Calls for release of Sierra Leonean singer jailed in ‘crackdown on free speech’ 19. May 2026 (10:00) Zainab Sheriff unjustly sentenced to four years in prison for incitement and threatening language, say activistsLawyers, politicians and activists have called for the release of one of Sierra Leone’s best-known celebrities, who they said was unjustly imprisoned as part of a government crackdown on free speech and political dissent.Zainab Sheriff, a singer and reality-TV show contestant who became a political opposition figure, was sentenced in April to four years and two months’ imprisonment for incitement and using threatening language. Continue reading...(The Guardian)
No feelgood factor for Reeves as Iran war snuffs out economic upturn 19. May 2026 (09:07) Rise in unemployment and weak pay growth underline how tough this year will be for UK householdsUK unemployment unexpectedly rises to 5%Business live – latest updatesNews that the UK unemployment rate jumped back to 5% in March appears to be the latest evidence that the Iran war has snuffed out the economic upturn Rachel Reeves had hoped to see in 2026.The Office for National Statistics reports that, after an unexpected fall in the unemployment rate to 4.9% in last month’s data, it ticked back up to 5% between January and March – the first set of figures affected by the conflict. Continue reading...(The Guardian)
UK unemployment unexpectedly rises to 5% as firms squeezed by Iran war 19. May 2026 (08:42) Pay growth eases to 3.4% as businesses face pressure from soaring energy costsBusiness live – latest updatesUnemployment in the UK has unexpectedly risen to 5% while wage growth has slowed, according to official figures, in the first snapshot of how companies are reacting to the impact of the Iran war.The Office for National Statistics (ONS) said the rate of unemployment was up in the three months to March, from 4.9% in February, a rate that City economists had expected to hold steady. Continue reading...(The Guardian)
High levels of toxic ‘forever chemicals’ found off coast of southern England 19. May 2026 (08:00) Study of Channel finds levels of toxic Pfas in Solent at 13 times safe limits in some places, with much coming from treated sewageScientists have found high levels of toxic Pfas, or “forever chemicals”, in soil, water and throughout the marine food chain in the UK’s Solent strait, including at protected environmental sites, according to a new study.In some samples, pollution was 13 times the safe threshold for coastal waters. Others, which were below legal limits for individual chemicals, failed tests for combined toxicity. Continue reading...(The Guardian)
Fears of new China shock as EU industry’s reliance on imports grows 19. May 2026 (08:00) Rising volume of components imported from China prompts warning of cannibalisation of European industriesEurope is facing a fresh China shock that threatens to cannibalise local factories, leading to job losses and de facto colonisation of industry by Beijing, trade analysts and representatives have said.They fear the plunging exchange rate and support for Chinese “zombie firms” has echoes of the crisis in the US 25 years ago when the term “China shock” was coined. It referred to the impact of China bursting on to the global trade stage after becoming a member of the World Trade Organization, with soaring imports displacing local industries and causing the loss of up to 2.5m jobs. Continue reading...(The Guardian)
Australian taxpayers to pay $11bn to extend lifespan of ageing Collins-class submarines amid Aukus delay 19. May 2026 (07:42) HMAS Farncomb had been due to be retired this year, but is now expected to operate until about 2036Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastTaxpayers will fork out an extra $11bn to extend the lifespan of Australia’s ageing Collins-class submarines for another decade, bridging the capability gap before the scheduled arrival of the first Aukus vessels in 2032.Originally designed to have a 30-year working life, the six Adelaide-built submarines have already been operational for between 23 and 30 years. The Albanese government announced in 2024 that it would undertake so-called “life of type extension” works to keep the six Collins class boats in the water for an additional 10 years. Continue reading...(The Guardian)
Peter Mandelson scandal: the key questions that remain unanswered 19. May 2026 (07:00) The foreign affairs select committee meets this week to discuss next steps and there are concerns any conclusions reached at this stage may be prematureThe parliamentary inquiry into Peter Mandelson’s appointment as US ambassador has heard more than 77,000 words of evidence from five of the most senior officials and advisers in government. Yet, as MPs on the foreign affairs select committee meet this week to discuss next steps, there are concerns that key questions remain unanswered.The committee’s investigation has been hampered by a lack of documentary evidence, amid concerns that the government is not adhering to the terms of a parliamentary motion that ordered the release of “all papers” relating to the appointment. Continue reading...(The Guardian)
Thames Water rescue deal threatened by uncertainty over next prime minister 19. May 2026 (07:00) Exclusive: Potential investors fear Andy Burnham could push to bring utility companies into public ownershipA rescue deal for Thames Water is under threat because of a potential change in prime minister, government insiders have said.Ministers are negotiating a takeover deal for the stricken water company with a consortium of creditors led by American investment firm Elliott Management. Continue reading...(The Guardian)
