Spend

• The Canadian Department of Canadian Heritage ordered the CRTC to review its policy requiring streaming services to increase spending on local content. • The government aims to prevent these new regulatory costs from being passed on to consumers through higher subscription fees during a period of high cost-of-living pressure. • While the official reason focuses on consumer pricing, experts warn that the requirements could further strain Canada's trade relationship with the United States.

Australian Bureau of Statistics estimates nicotine consumption rose 40%, with illicit sources accounting for 80% of all tobaccoFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralians are consuming more nicotine than they were eight years ago but are spending less, new data from the Australian Bureau of Statistics shows, as 80% of the cigarettes smoked by the nation last year were cheaper illegal products.The analysis released by the Australian Bureau of Statistics (ABS) on Wednesday showed the amount of nicotine consumed around the country soared by 40% between 2017 and 2025, despite population growth rising by just 14%. Continue reading...

ICC’s decision comes amid growing concerns the team is being influenced by members of a notorious gang in IndiaCricket’s international governing body has suspended Canada over what it described as “serious breaches of its membership obligations”, dealing the latest blow to an organization that critics say has become a “laughing stock” within the sport.The suspension also comes amid growing concerns that one of Canada’s fastest-growing sports is being influenced by members of a notorious gang that operates with impunity from an Indian prison cell. Continue reading...

• Europe's technology spending is projected to reach $1.3 trillion as the growth of artificial intelligence accelerates across the continent. • The "Tech Nation Report 2026: The Next Wave of UK AI" will be officially launched on the Main Stage of London Tech Week on Monday, June 8. • The event will feature a dedicated founder panel focused on strategies for the UK to build, scale, and maintain a competitive edge in the AI era.

One of largest equity fundraisings ever includes $10bn share sale to US investment group Berkshire HathawayBusiness live – latest updatesGoogle’s parent company Alphabet has said it plans to raise up to $80bn (£59bn) in equity to fund its vast artificial intelligence infrastructure investments, raising further questions over the economics of the AI boom.The move, one of the largest equity fundraisings ever globally, includes a $10bn share sale to the US investment group Berkshire Hathaway, which was led until last year by the retired investment guru Warren Buffett for 60 years. Continue reading...

• South Korea experienced a significant tourism boom in April, with Seoul alone welcoming over 1.5 million foreign visitors. • China emerged as the primary driver of this surge, leading other major contributing markets including the United States, Japan, Taiwan, and the Philippines. • The influx of tourists resulted in a massive economic boost, with total visitor spending soaring to 1.15 trillion won.

• SoftBank has announced plans to invest up to €75 billion to develop artificial intelligence data centers across France. • The first of these facilities are expected to become operational within the next five years. • This massive investment underscores the growing global competition to build the physical infrastructure necessary to support advanced AI processing.

• SoftBank plans to invest up to $87 billion to develop AI data centers in France, leveraging the country's robust nuclear energy grid. • The initial phase involves a $52 billion investment to establish 3.1 GW of capacity in the Hauts-de-France region by 2031. • This move highlights a growing global trend of AI infrastructure shifting toward regions with stable, low-carbon power, contrasting with energy shortages in the US.

• SoftBank plans to invest €75 billion to construct Europe's largest artificial intelligence facility in France. • The massive investment is part of a strategic push by the Japanese conglomerate to position itself at the center of the global AI revolution. • This project underscores France's growing role as a primary hub for AI infrastructure and high-performance computing in Europe.

• SoftBank founder Masayoshi Son announced plans to invest €75 billion ($87.5 billion) to develop artificial intelligence infrastructure in France. • The investment will focus on building AI data centers and enhancing the country's technological capabilities to support advanced computing. • This move signals a massive strategic shift for SoftBank as it pivots toward AI-driven growth and strengthens its presence in the European market.

• SoftBank founder Masayoshi Son announced plans to invest $87.5 billion to develop AI data centers in France. • The decision follows a meeting between Son and French President Emmanuel Macron during the leader's visit to Tokyo in April. • France was selected as the primary location due to its status as an energy exporter, which is critical for powering energy-intensive data centers.

• US official Hegseth praised several Asian partners for increasing their security and defense spending during a forum on May 30. • He specifically recognized Australia, Indonesia, Japan, Malaysia, the Philippines, South Korea, Singapore, Thailand, and Vietnam for their contributions. • Notably, Taiwan and New Zealand were omitted from the list of partners stepping up their security efforts.

• During the Shangri-La Dialogue on May 30, US official Pete Hegseth praised several Asian partners for increasing their security and defense spending. • Hegseth specifically recognized Australia, Indonesia, Japan, Malaysia, the Philippines, South Korea, Singapore, Thailand, and Vietnam for their contributions. • The omission of Taiwan and New Zealand from the roll call of partners is a notable detail that may signal shifts in diplomatic priorities or strategic messaging.

• A Barclays survey reveals that 68% of UK business leaders plan to increase their cybersecurity spending over the next 12 months to combat evolving risks. • Despite the investment, 46% of leaders fear that the adoption of new technologies, including AI, is widening their exposure to cyber threats. • There is a significant gap in confidence, as only 29% of businesses feel prepared to respond to a major cyber incident, even though 82% believe their measures are keeping pace with tech adoption.

• 68% of UK firms plan to increase cybersecurity spending due to rising security concerns. • The increase in spending is driven by the adoption of new technologies, including AI, which 46% of business leaders believe is increasing their exposure to cybersecurity risks. • Fewer than three in 10 businesses are confident in their ability to respond to a major cyber incident, highlighting the need for improved cybersecurity measures.

• Tencent Financial Technology has linked PayPal to the WeChat Pay network, allowing U.S. users to make purchases across China via QR codes. • The integration connects Tencent's TenPay Global platform with PayPal World, with plans to roll out the service to other international markets in phases. • To incentivize adoption, Tencent is offering temporary fee waivers for foreign bank cards linked to WeChat Pay through 2026.

• OpenAI’s non-profit foundation will allocate $250 million toward research analyzing how artificial intelligence affects the global economy. • This initiative marks the first specific deployment of funds following the organization's March pledge to distribute $1 billion over a 12-month period. • The research is critical for understanding the systemic shifts in labor markets and economic productivity caused by the rapid adoption of AI.

Party spent £252,000 in last two weeks of campaign on its main Facebook pages compared with Labour’s £276,000UK politics live – latest updatesReform UK ramped up the funding and sophistication of its political Facebook ads in the final weeks of campaigning for the May elections, in a sign of the growing financial muscle of Nigel Farage’s party.There were several days in the fortnight before the party’s breakthrough electoral performance when Reform spent more than any other party on the influential platform. Continue reading...

Exclusive: Mining giant says technology is not yet advanced enough to run a fully electrified fleet but experts say it is hooked on federal fuel tax creditsRead more from the BHP files investigation hereGet our breaking news email, free app or daily news podcastBHP has continued to spend hundreds of millions of dollars buying diesel trucks in the Pilbara despite internal documents suggesting it would increase emissions and be “misaligned” with its decarbonisation goals.The mining giant is Australia’s biggest consumer of diesel and trucks are its biggest single source of diesel emissions. Replacing the fleet with battery-electric trucks is considered a critical step in the multinational’s efforts to decarbonise. Continue reading...

Radiologists say ‘ballooning’ costs reflect staffing failures, forcing a reliance on lower-quality private scan reportsThe NHS is paying private firms record sums to analyse diagnostic scans because hospitals are too busy and understaffed to do the work themselves, research has revealed.The amount being spent on outsourced the interpretation of CT and MRI scans is “spiralling out of control” and reflects a short-sighted failure to train enough doctors, ministers are being told. Continue reading...

Most people have joyful memories of playing outside as children – and now wildlife charities are urging people to ‘rewild their inner child’Climbing trees, squelching in mud, paddling in ponds or making dens in the woods – people’s memories of playing outside as children are often vivid and, a new poll has found, overwhelmingly positive, even those who remember falling in cowpats.Almost 90% of UK adults had rosy memories of the excitement and the feeling of freedom that outdoor play had brought them, the survey found. However, almost half of adults now spend less than three hours a week in natural settings such as gardens, parks, fields or woods, according to the survey. For one in 10 it is less than one hour. Continue reading...

Wait times of more than two hours reported at terminal for cross-Channel ferry to FranceFrench police have temporarily suspended extra EU border checks at the port of Dover as thousands of holidaymakers faced long delays in the hot weather.Wait times of more than two hours were reported at the terminal in Kent for the cross-Channel ferry to France. The delays come a month after the EU’s entry-exit system (EES), which replaces passport stamps with a digital registration, became fully operational. Continue reading...

• Zee Entertainment Enterprises (ZEE) reported a net loss of ₹104 crore for the fourth quarter, as announced on May 19. • The company attributed the financial downturn to a decrease in advertising spend from clients, which was negatively impacted by the ongoing war in West Asia. • This loss highlights the vulnerability of media companies to geopolitical instability and the resulting volatility in global advertising markets.

National Audit Office says potential benefits are ‘considerable but uncertain’ while risks are ‘immediate and substantial’The cost of the government’s £38bn nuclear plant in Suffolk is subject to “significant uncertainty” and may outweigh the benefits for UK households until at least 2064, according to the government’s spending watchdog.The National Audit Office (NAO) has warned that although the potential benefits of the Sizewell C nuclear plant are considerable, they remain uncertain. The risks, however, are “immediate, substantial and borne by the public”. Continue reading...

Dr Sharmila Chandran suspended until 20 September as Royal Australasian College of Physicians agrees to work with regulator to meet its obligationsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe charities regulator has suspended the president-elect of one of Australia’s oldest medical colleges for allegedly contravening a direction from the NSW work health and safety watchdog. The Australian Charities and Not-for-profits Commission (ACNC) on Monday issued a notice suspending Dr Sharmila Chandran as a responsible person of the Royal Australasian College of Physicians, which is a registered charity, until 20 September. SafeWork NSW advised that Chandran’s alleged failure to comply with a directive not to contact RACP staff was exposing them to “immediate and serious risks” to their psychological health and safety, the ACNC said in a public statement.The intervention follows months of conflict within the RACP’s board, which culminated in an extraordinary general meeting last month to which police were called. Continue reading...

Adam Kent suspended after Tory councillors joined forces with Greens and Lib Dems to end Reform’s minority controlThe Conservatives have suspended the party’s leader at Worcestershire county council after he made a deal with the Greens and Liberal Democrats to oust Reform.Reform UK gained control of the council a year ago but its tenure has been marked by a series of controversies and political infighting. This included a bitter leadership battle in which the now former Reform councillor Jo Monk was replaced as leader of the council in April. Continue reading...

Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war falloutHouseholds cut back on their spending in April at the fastest pace in 18 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested.Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its data showed there had been a 0.1% fall in card spending last month compared with a year earlier. This was the first year-on-year fall since November 2024. Continue reading...

• ByteDance has announced a 25% increase in artificial intelligence infrastructure spending for 2026 as part of a major strategic push to strengthen its competitive position in the AI sector. • The investment boost reflects ByteDance's commitment to scaling compute resources, data centers, and AI development capabilities to support its existing platforms and emerging AI products. • The spending increase positions ByteDance alongside other major Chinese tech firms in ramping up AI investments amid intensifying global competition with US technology companies.