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No consensus has been reached during talks in Geneva on the world's first legally binding treaty to tackle plastic pollution, delegates said this morning. "South Africa is disappointed that it was not possible for this session to agree a legally binding treaty and positions remain far apart," its delegate told a closing meeting of the negotiations early on Friday. Talks between nations to reach a treaty to end plastic pollution continued behind closed doors in Geneva yesterday evening, the final day of negotiations, as civil society groups called on countries to secure a strong agreement. Negotiations then went into overtime, and ran into Friday.

 

Reuters

The Guardian

Ahead of their meeting in Alaska today, the Daily Telegraph reports that US president Donald Trump is preparing to offer his Russian counterpart Vladimir Putin access to rare earth minerals to incentivise him to end the war in Ukraine. Other incentives for Putin include opening up Alaska’s natural resources to Moscow and lifting some of the American sanctions on Russia’s aviation industry, The Telegraph reports.

 

The Daily Telegraph

WhatsApp has accused Moscow of trying to block secure communications for over 100 million Russians after Russia began restricting WhatsApp and Telegram calls. Authorities claim the platforms refused to share data in fraud and terrorism cases. Messaging and voice notes remain unaffected. The move follows broader restrictions on foreign tech since the 2022 Ukraine invasion, including bans on Facebook and Instagram. “WhatsApp is private, end-to-end encrypted, and defies government attempts to violate people’s right to secure communication,” the company said, as Russia promotes domestic platforms and tightens control over internet access.

 

Reuters

China has imposed sanctions on two Lithuanian banks, UAB Urbo Bankas and Mano Bankas AB, in response to the European Union's recent sanctions against Chinese financial institutions linked to Russia. The Ministry of Commerce condemned the EU's actions, claiming they harm China's legitimate interests and negatively impact China-EU economic relations.

 

Reuters

HSBC is to boost surveillance of staff and buildings by adding more cameras and biometric access to its premises globally. Access to the bank's top-tier buildings, including in the UK and the US, is to be based on biometric verification, including full-hand recognition. Access can also be "digital," with staff expected to use their own mobile phones to badge in, according to a presentation document seen by Reuters. An HSBC representative said: "We regularly risk assess every building and dependant on the identified risk and vulnerabilities, we continue to invest in the latest cutting-edge technology to safeguard our colleagues, customers and visitors in line with industry standards."

 

Reuters

The Daily Telegraph

The Times

Following the increase in employer National Insurance contributions from 13.8% to 15% in April, small businesses in the UK are increasingly hiring virtual staff and contractors instead of full-time employees. The Office for National Statistics reported a decline of 169,000 payrolled employees from June 2024 to June 2025. Debbie Porter, managing director of Destination Digital Marketing, said: "The risk and the cost of investing in a younger or more inexperienced person is now too much."

 

Daily Mail

UK exports to the United States fell to a three-year low in June, declining by 15%, or £700m. The drop follows President Trump's imposition of tariffs, which began in April. The UK's overall trade deficit widened to £9.2bn in the second quarter, driven by rising imports. William Bain, head of trade policy at the British Chambers of Commerce, said: "Implementation of the UK's trade deal with the US in full is now needed to improve prospects." Meanwhile, Anna Titareva from UBS warned that rising protectionism could hinder economic growth in the coming years.

 

The Independent UK

The Times

Food prices have stabilised in Spain compared to last year but remain 15% higher than in 2021. In July, the overall inflation rate was 2.7%, down from 10.8% three years ago. While some items, like eggs, saw significant price increases, others, such as olive oil and sugar, decreased. This mixed trend does not reverse the overall upward trajectory. According to the Ministry of Agriculture, individuals will spend an additional €48 on food this year, averaging about €4 more per month.

 

El Pais

The Financial Conduct Authority is concerned that more than 225,000 people in the UK were identified as “money mules” for letting criminals use their accounts to launder funds last year.

 

Financial Times

HM Revenue & Customs payroll data has found no evidence to suggest more non-doms left Britain following the Chancellor’s changes to the regime last year.

 

Financial Times

Aviva has reported a 22% increase in half-year operating profit, reaching £1.07bn, driven by growth in UK and Ireland general insurance premiums and higher wealth net flows. The insurer raised its interim dividend by 10% to 13.1 pence per share. CEO Amanda Blanc said: "Direct Line integration is well underway . . . and we are confident the deal will contribute significantly to Aviva's future growth." While some rate softening is expected in general insurance, growth is anticipated in the wealth and health divisions. More details on the Direct Line acquisition will be provided in November.

 

Daily Mail

Swiss lender UBS is on track to miss an internal target to cut its headcount to 85,000 by the time it completes its integration of Credit Suisse next year.

 

Financial Times

Frasers Group has urged Boohoo to suspend founder and executive vice-chairman Mahmud Kamani and launch an independent investigation into allegations he sought repayment of a £100,000 personal debt through supplier payments. A report claims Kamani told a middleman to deduct 20% per garment from Manchester-based PDQ Textiles, linked to the alleged debtor. Frasers, which owns 29% of Boohoo, said the claims could damage the retailer’s reputation and breach Kamani’s director duties. The dispute follows failed Frasers attempts to remove Kamani and gain board seats. Frasers called for a forensic review of communications.

 

The Daily Telegraph

The I

The Times

A nuclear plant in northern France was shut down after jellyfish clogged the cooling pumps, according to energy group EDF. The automatic shutdown of four units posed no safety risks to personnel or the environment. The Gravelines plant, which is the largest nuclear facility in western Europe, is currently offline, with two units already under maintenance. EDF's teams are working to diagnose and resolve the issue to safely restart the production units.

 

South China Morning Post

Washingtonpost.com

Starbucks customers in South Korea have been asked to stop bringing "bulky items," including printers and desktop computers, into cafes to do their office work. Others have brought in partitions and more than one computer to mark their office territory. Starbucks said laptops, iPads, and mobile phones are still welcome but not items that "impact the shared space." BBC News notes that the growing trend of studying and working at cafes - cagongjok - has become a subject of intense debate in Korea. "Good job," said one Korean user on social media after the announcement. "Now that Starbucks has started, other cafes should follow suit".

 

Fortune

Times of India

BBC News