The Bank of England's Monetary Policy Committee dictates interest rates, directly impacting borrowing and saving for UK households and businesses. These decisions, made eight times a year, are driven by inflation targets and economic stability concerns, reflecting the institution's role in the broader financial system.
Starbucks South Korea will close all its outlets for half a day to provide historical awareness training to staff, following public condemnation of a promotional campaign that coincided with the anniversary of the 1980 Gwangju Uprising. The 'Tank Day' promotion, featuring reusable cups, was widely criticised for its insensitivity, prompting the dismissal of the country's chief executive and a commitment from Chairman Chung Yong-jin to also attend the training.
A framework agreement between the United States and Iran has led to a fall in global oil prices, with motoring groups predicting a swift reduction in UK pump prices. The deal aims to reopen the Strait of Hormuz, a critical shipping lane previously disrupted by the conflict.
