Business

Gold, defence stocks and Venezuelan bonds rise but oil falls after US seizes Maduro – business live
Posted on Monday January 05, 2026

Rolling coverage of the latest economic and financial newsThe oil price remains in the red this morning, with Brent crude now down 1% at $60.15 per barrel.Analysts are in broad agreement that while the Venezuela attack is unlikely to boost demand for oil, it also won’t lead to a rapid surge in supply.The question is, will traders focus on the potential for future Venezuelan oil flooding the market, which could tank the oil price, or will they focus on how much investment will be needed to get Venezuela to pump more oil? Right now, Venezuela pumps less than 1 million barrels per day, at its peak in 1998, before socialist dictators took control, it was pumping out nearly 3.5 million barrels per day. To get back to this level will take hundreds of billions of dollars in investment, which President Trump has said will partly come from US oil companies.However, the type of investments needed including upgrading old and decaying infrastructure, drilling new oil wells and building more refineries to process Venezuela’s heavy crude oil. Optimizing resource-rich Venezuela to generate the income needed to turn the country around could take until 2030 and beyond, according to some oil analysts. Thus, any decline in the price of oil at the start of this week could be short lived.“The reported capture of Venezuelan president Nicolás Maduro might be a geopolitical shock, but for markets it’s not an oil-price earthquake. Venezuela accounts for roughly 1% of global supply, and even in a best-case political outcome, restoring production would take years. Most of the disruption risk is already priced in, meaning this is a slow-moving structural story rather than a trigger for sustained oil price moves.“For investors, the earliest impact is likely to appear in US refining, where heavy Venezuelan crude fits existing infrastructure. Refiners with exposure to complex facilities may see improved economics at the margin, while Canadian oil sands producers face increased competition over time. Continue reading...

Ban on TV junk food advertising before 9pm comes into force in UK
Posted on Monday January 05, 2026

Watchdog will also monitor online ban for high fat and sugar products as part of wider effort to tackle childhood obesityA ban on junk food advertising on TV before 9pm and a total ban online has come into force as the government attempts to tackle the childhood obesity crisis.Under the rules, which will be enforced by the Advertising Standards Authority (ASA) 13 categories of products can no longer be advertised on TV before the watershed or at any time online. The banned products are high in fat, sugar and salt. Continue reading...

Collapse of ‘zombie’ UK firms forecast to fuel unemployment in 2026
Posted on Monday January 05, 2026

Businesses being hit by rising cost of interest rates, energy costs and wages, says Resolution FoundationThe UK is poised for a rise in unemployment in 2026 fuelled by the collapse of “zombie” companies that have struggled to adapt to a rise in business costs, according to a report.At the start of what could be a pivotal year for the economy, the Resolution Foundation said businesses were grappling with a “triple whammy” of multiyear increases in interest rates, energy prices and the minimum wage that could “finish off” some underperforming companies. Continue reading...

World ‘may not have time’ to prepare for AI safety risks, says leading researcher
Posted on Sunday January 04, 2026

AI safety expert David Dalrymple said rapid advances could outpace efforts to control powerful systemsThe world “may not have time” to prepare for the safety risks posed by cutting-edge AI systems, according to a leading figure at the UK government’s scientific research agency.David Dalrymple, a programme director and AI safety expert at the Aria agency, told the Guardian people should be concerned about the growing capability of the technology. Continue reading...

HSBC becomes first big UK lender to cut its mortgage rates in 2026
Posted on Sunday January 04, 2026

Reduction follows Bank of England’s base cut in December, with further cuts expected this yearHSBC has become the first major lender to cut mortgage rates this year, a move that could spark a price war over the coming months.The banking group, which is one of the UK’s largest mortgage lenders, has cut rates across a range of residential and landlord buy-to-let mortgage products. The new rates come into effect on Monday. Continue reading...

Battery electric cars will overtake diesels in Great Britain by 2030, analysis suggests
Posted on Sunday January 04, 2026

London predicted to be the first UK city to go diesel-free, largely because of the ultra-low emission zoneBattery electric cars are poised to overtake diesels on Great Britain’s roads by 2030, according to analysis that suggests London will be the first UK city to go diesel-free.The number of diesel cars on Great Britain’s roads in June had fallen to 9.9m in June last year, 21% below its peak of 12.4m vehicles, according to analysis by New AutoMotive, a thinktank focused on the transition to electric cars. Electric car sales are still growing rapidly, albeit more slowly than manufacturers had expected. Continue reading...

Digital wallet fraud: how your bank card can be stolen without it leaving your wallet
Posted on Sunday January 04, 2026

Fraudsters use phishing to steal card details, which fund a spending spree using Apple Pay or Google PayYou get a call from your bank and the informed voice asks to you to confirm the personal details they have on file, which you do. You are then asked whether you bought something at an electrical retailer recently for £120 and spent £235 in Birmingham, but neither transaction rings true.The caller tells you they have blocked the payments but they must now secure your account, and say they will send you a notification to approve, or a code to pass on to them. You feel under pressure to protect your money, so you do what is asked. Continue reading...