Independent bookstores make quiet comeback as big chains dominate retail

About 422 indie bookshops opened in 2025, up 31%, defying predictions of retail consolidation

For years now, we have heard that Amazon and the big chains are crushing small businesses, but independent bookstores are suddenly making a comeback.

About 422 new indie bookshops opened in 2025, according to the American Booksellers Association, a 31% rise from 2024. Countless independent restaurants, coffee shops, fitness centers, movie theaters, clothing stores and other small businesses also continue to thrive even in this era of ever-bigger retailers, fast-casual restaurants and massive e-commerce platforms.

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Vodafone incentivised security staff to fine its own franchisees

Shopkeepers charged millions of pounds, including alleged £10,000 penalty for mistake that cost firm £7.08

Vodafone incentivised its security staff to increase “clawbacks” levied on its own franchisees, as part of a programme that led to the telecoms group fining its own shopkeepers millions of pounds for seemingly small administrative errors.

The policy – which included one alleged case of a £10,000 penalty for a franchisee whose mistake cost Vodafone £7.08 – involved setting “key performance indicators” (KPIs) for the telecoms group’s internal employees to collect total annual fines of £1.5m from the small business people running the FTSE 100 company’s high street stores.

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Reform UK’s Richard Tice allegedly failed to pay £100,000 in corporation tax

Deputy leader ran shell companies that reportedly did not pay tax on profits from 2020 to 2022, during which time his firm donated £1.1m to party

Richard Tice allegedly failed to pay almost £100,000 in corporation tax to the benefit of his investment company, which in turn made donations to Reform UK, it has been reported.

In response to the report in the Sunday Times, the deputy leader of Reform UK posted a lengthy statement on X, in which he said: “A long career with multiple businesses is bound to feature some errors. Naturally I am always happy to put things right and if numbers need rechecking, of course I will pay what is owed – be that more or less.”

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Carmakers scramble to plug £3bn shortfall for UK loan scandal payouts

Filings suggest manufacturers’ lending arms have massively underestimated bill from FCA’s £9.1bn redress scheme

Carmakers are under pressure to drum up £3bn to cover payouts for motor finance scandal victims after failing to adequately prepare for a UK-wide compensation scheme that is due to begin this summer.

Company filings show the lending arms of big vehicle manufacturers including Ford, BMW, Stellantis and Volkswagen may have massively underestimated the final costs of the financial regulator’s £9.1bn redress scheme.

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Ben Roberts-Smith denies war crimes allegations – As it happened

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Defence Minister Richard Marles says the success of Australia’s alliance with the United States should not be measured against a single president or federal government in Canberra, insisting the longstanding ties will endure.

US President Donald Trump has repeatedly criticised Australia for not assisting with the war in Iran, while federal Labor, including Marles and Prime Minister Anthony Albanese, say the White House has not made any specific request for assistance.

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Air Canada temporarily suspends some flights to New York and other locations

Spirit Airlines reportedly seeks emergency US government funding as war against Iran keeps aviation fuel costs high

Air Canada has announced a temporary suspension of flights from Toronto and Montreal to New York’s John F Kennedy airport, citing rising fuel prices.

The move comes amid growing concerns that airlines worldwide may scale back services as aviation fuel costs climb in the wake of the US and Israel’s ongoing war with Iran, which entered a fragile ceasefire earlier in April. Although Iran announced on Friday that the strait of Hormuz had reopened, helping ease oil prices, fuel costs remain significantly elevated after weeks of disruption.

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US Live Nation and Ticketmaster verdict triggers calls for Australian investigation into ticketing rules

One insider estimates Australians pay A$10 in fees per ticket, with fans bearing the burden of monopolised music tour schedules and inflated artist values

Australia is being urged to improve ticketing transparency after a US federal court found Live Nation Entertainment had a harmful monopoly over big concert venues.

This week, a New York jury found the global entertainment giant and its subsidiary Ticketmaster liable for systematically stifling competition to extract excessive profits from concertgoers. The jury identified a baseline overcharge of US$1.72 for every ticket sold by Live Nation since 2010 – totalling an additional US$595m in 2025 alone.

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UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

Adult video platform to sell minority stake to increase stability after death of its founder Leonid Radvinsky

OnlyFans, the UK adult video platform, is in talks to sell a minority stake to a US investor that will value the business at more than $3bn (£2.2bn).

The London-based company is in advanced talks to sell a stake of less than 20% to the San Francisco-based investment firm Architect Capital, according to the Financial Times. Sources familiar with the process confirmed the talks to the Guardian.

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Ukraine war briefing: €90bn EU loan for Ukraine to be released in second quarter

EU economy commissioner says Iran war is feeding Russia’s war machine; Trump condemns massive strikes on Ukraine. What we know on day 1,513

The EU expects to start releasing a new €90bn loan to Ukraine in the second quarter, the bloc’s economy chief told AFP on Thursday. The EU’s economy commissioner, Valdis Dombrovskis, was speaking on the sidelines of the International Monetary Fund and World Bank’s spring meetings, which brought finance ministers, central bankers and other leaders to Washington. “Our support for Ukraine, also continued pressure and sanctions against aggressor Russia was very much part of the agenda,” Dombrovskis said. He warned that Moscow was “emerging as a winner from this war in Iran, because it provides windfall profits to feed Russia’s war machine”.

Russia hammered civilian areas across Ukraine with drones and missiles on Thursday, killing at least 17 people and wounding more than 100 others in the worst aerial attack in weeks, Ukrainian authorities said. Nearly 700 drones and dozens of ballistic and cruise missiles were used, as Ukrainian officials said vital stocks of advanced interceptors were running low.

Donald Trump on Thursday condemned a massive Russian drone and missile attack across Ukraine that ripped through apartment buildings in the capital, Kyiv. Asked by reporters at the White House for his reaction to the barrage, Trump said: “I think it’s terrible.”

It is not in the interest of the US that Russia is the winner of the Iran war, the German vice chancellor, Lars Klingbeil, said on Thursday in Washington. “It’s not in our interest and it cannot be in the interest of the United States,” he said in a joint statement with the finance ministers of Ukraine and Norway on the sidelines of the IMF spring meetings. Klingbeil said the Russian economy was growing thanks to the Middle East conflict and the country was profitting from the energy situation. As the conflict in the Middle East dominated the gathering of finance officials at the IMF in Washington, the ministers of Norway, Germany and Ukraine spoke about not forgetting to support Ukraine in its defence against Russia. “All the meetings here are about the question of what’s happening with the war in Iran, and I think it’s really important we show solidarity with our friends in Ukraine,” Klingbeil said.

The heads of the EU and Nato on Thursday discussed efforts to bolster Europe’s arms production, as Donald Trump threw doubt on Washington’s commitment to the transatlantic alliance. “We need to invest more, to produce more and to do both faster,” the European Commission’s president, Ursula von der Leyen, posted online after meeting Nato’s chief, Mark Rutte. European nations are scrambling to bolster their militaries in the face of Russia’s war on Ukraine and pressure from Trump.

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Australia news live: refinery fire will not lead to tougher fuel restrictions, PM says, though petrol production down by 40% at plant

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Australia secures extra fertilizer and 100m extra litres of fuel, PM says

Albanese has also provided an update on Australia’s talks with its allies in Asia to shore up imports of fuel and other goods affected by the effective closure of the Strait of Hormuz.

The advice that we have received today is that 80% of diesel production is continuing, 80% of aviation fuel is continuing, ongoing.

It has been slowed down just slightly because of the circumstances which are there, but 60% of petrol production [is] proceeding today as well.

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Next chief Simon Wolfson paid record £7.4m – and could get far more this year

‘Sustained outperformance’ merits pay rise, says company after it ups profit guidance to £1.2bn for year to January 2027

The Next chief executive, Simon Wolfson, took home more than £7m last year, his highest ever pay package, and could be handed up to £9.27m this year after the retailer announced plans to increase his basic salary and bonuses.

The listed company said it was increasing its pay deal for the long-term leader of the fashion and homewares retailer, which now controls a string of brands in the UK including Gap, Victoria’s Secret, Cath Kidston, Reiss and FatFace, as his remuneration was 30% below the average for FTSE 100 bosses.

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Pedro Pascal v Pedro Piscal: actor in legal battle with Chilean spirit brand

Pedro Piscal pisco is latest Chilean brand to resemble a Hollywood name – and others have fought off the lawsuits

The actor Pedro Pascal is waging a legal battle against a Chilean pisco merchant who has chosen a cheeky name for his brand of the country’s national spirit: Pedro Piscal.

David Herrera registered the brand name with a Chilean commercial regulator in 2023 and began selling his pisco in off-licences and restaurants.

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‘A dollar or two increase is devastating’: US consumers on toll of rising gas prices

Guardian readers describe how their lives have been upended by cost hikes stemming from Trump’s Iran war

With the US and Israel’s war on Iran now in its seventh week, with a fragile ceasefire in place since earlier this month, Americans are continuing to feel the effects at the pump as global fuel prices rise.

For several readers who spoke to the Guardian, the impact has forced difficult trade-offs – from accessing essential medicines and groceries to facing the brink of homelessness amid an already rising cost of living.

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Australia fuel watch tracker: check current petrol and diesel prices, service station outages and shipments – in charts

How much fuel does Australia have left today, and when could we run out? Track how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country.

The federal government has released fuel reserves, cut fuel excise taxes and rolled out a national fuel security plan as Australia battles a fuel crisis.

While we know there have been outages and price increases, it can be difficult to get a full picture of what is happening – this is partly due to the thousands of independent businesses and different governments involved. We have brought together the latest data on prices, outages and oil tanker deliveries.

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Drax claimed record £999m in subsidies for burning trees in 2025, thinktank says

Company has received about £8.7bn in renewable energy subsidies since 2012, despite claims wood pellets are not sourced sustainably

The owner of the Drax power plant in North Yorkshire received record subsidies of almost £1bn for burning trees to generate electricity in 2025, a climate thinktank has calculated.

The company was paid £999m last year for generating about 4.5% of Great Britain’s electricity from its biomass plant, costing each household £13 a year, according to analysts at Ember.

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Gina Rinehart has been forced to share her riches. But will she fight on or end the family feud?

A 15-year court battle costing millions of dollars ended in a partial defeat for the tycoon. Will she now bury the hatchet or double down and keep fighting her children and rivals?

Gina Rinehart does not like to lose.

Engaged in bitter legal battles for most of the past 35 years, Australia’s richest person has shown her propensity to fight tooth and nail to retain control of her family’s iron ore empire – and the riches that flow from it.

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Aegon offloads 200-year-old UK business to Standard Life for £2bn

Deal will create pensions and savings group with 16m customers and £480bn of assets, while Aegon focuses on US

The Dutch financial services group Aegon has struck a £2bn deal to sell off its almost 200-year-old UK arm to Standard Life, as part of a US push in which the group will be rebranded as Transamerica.

Standard Life, previously known as Phoenix Group, said the deal to buy Aegon UK would create a pensions and savings group with 16 million customers and £480bn of assets under administration.

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Gina Rinehart’s son says he wants to be a ‘united family’ in olive branch to mother after court ruling

John Hancock welcomes findings on ownership of mines and companies although judge says dispute should be determined in private arbitration

Gina Rinehart’s son has said he wants to reunite his family after a landmark court case left a long-running feud over ownership of mines and companies unresolved.

The Western Australian supreme court on Wednesday found Rinehart’s children were at one point set to inherit 49% of her company and said their ownership claims should be determined in separate proceedings.

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China Evergrande’s billionaire boss pleads guilty to fraud

Hui Ka Yan expresses remorse in trial proceedings after collapse of world’s most indebted property developer

A former steelworker who rose to become one of China’s richest people has pleaded guilty to charges including fundraising fraud after the collapse of Evergrande, the world’s most indebted property developer.

The property group’s founder, Hui Ka Yan, “pleaded guilty and expressed remorse” in trial proceedings at a court in China’s southern city of Shenzhen against him and Evergrande, the court said in a posting on its official WeChat account. He also pleaded guilty to misuse of funds and illegally taking public deposits.

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Uber adds fuel surcharge for non-EV fares in Australia amid petrol price rises

Trips in electric vehicles will be exempt from the temporary fee of 5 cents a kilometre, rideshare firm says

Uber customers in Australia will be charged a fuel surcharge for almost two months from Wednesday unless they ride in an electric vehicle.

Trips in petrol, diesel and hybrid vehicles will attract an extra fee of 5 cents a kilometre from 15 April to 8 June, Uber announced on Monday.

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