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Phillipson is the frontrunner in race to replace Angela Rayner

Education Secretary Bridget Phillipson has emerged as the frontrunner

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Mandelson called Epstein ‘best pal’ in birthday message

A picture understood to have been taken on the Caribbean island of St Barts in 2006

NewsPakistan

Faysal Bank honoured at ADB’s annual Trade and Supply Chain Finance Program Awards 2025

Prestigious recognition highlights FBL’s role in driving innovation and sustainable global trade

NewsPakistan

Chenab floodwaters put Multan at risk, next 24 hours critical

Indian water aggression worsens floods as Sutlej and Chenab swell

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IAEA sees progress in Iran nuclear talks but warns time is short

Grossi says time is running out for a breakthrough as tensions with West remain high

Information TechnologyNewsPakistan

Connectivity problems exist in Pakistan, India, and the UAE. Here’s why.

Microsoft confirms rerouting delays; Pakistan among affected countries

NewsPakistan

5 family members killed in Hazara Motorway accident

High-speed trailer rammed into car near Shah Maqsood Interchange

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India releases more water in Sutlej; flood alert issued across Punjab

Emergency measures underway as rivers swell, hundreds of thousands evacuated

NewsPakistan

Funeral prayers held for Major Adnan Aslam in Rawalpindi

PM Shehbaz pays tribute to Major Adnan

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Nepal lifts social media ban after protests leave 19 dead, says minister

Govt to pay relief for families of dead and provide free treatment for injured, says cabinet spokesperson

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Kelp Farmer Suzie Flores Pushes Seaweed Farming in the US After Leaving Manhattan Career
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Candy Stores Are Growing in NYC Despite Economic Pressure Why small sweet shops are expanding during tough times New candy shops are appearing across New York City even though many retailers are struggling due to weak consumer confidence and ongoing inflation. While people are cutting back on larger purchases, demand for small treats like candy remains steady. Industry owners say sweets continue to sell because they are affordable and offer quick comfort. Even during financial stress, customers still want small indulgences they can easily justify. A business model that survived the Great Depression One of the strongest examples is Economy Candy on Manhattan’s Lower East Side. It first opened in 1937 during the tail end of the Great Depression and is now known as the city’s oldest candy store. The shop did not start as a candy store. It began as a hat and shoe repair business, with candy sold outside on a small cart to earn extra income. Over time, repairs became less affordable for customers, so the family shifted fully to sweets. That decision helped the business survive, and it is still running today under third generation ownership. Why candy still sells in uncertain times Owner Mitchell Cohen says people still buy candy even when money feels tight. He explains that inflation and uncertainty reduce spending power, but candy remains an easy and low cost purchase. Recent retail data shows overall US sales are still rising, yet consumer sentiment has dropped to record lows. This gap reflects a split between what people feel and what they still spend on. Experts say candy fits into a pattern often called the “lipstick effect.” When budgets shrink, people avoid expensive items but still buy small luxuries that give emotional comfort. New shops are betting on small treats This trend is also attracting new entrepreneurs. Kate Bolger, a former movie producer, is preparing to open The Village Confectionery in Sleepy Hollow, a town near New York City known for its literary history. Bolger believes customers may delay big purchases but will still spend on small treats like candy. She sees it as a simple way for people to enjoy something small without financial strain. A small luxury that stays resilient Even as the wider retail sector faces pressure, candy stores continue to grow in select areas. Their success is linked to low prices, emotional appeal, and steady demand during uncertain economic conditions.
Candy Stores Are Growing in NYC Despite Economic Pressure
Business News
Deputy Mayor Defends Blocking £25m Palantir Met Police Contract Amid Job Cut Fears Contract decision sparks debate over policing costs and reforms in London London’s deputy mayor for policing and crime, Kaya Comer Schwartz, has defended her decision to stop a £25.3 million contract between the Metropolitan Police and US tech company Palantir. The deal was planned for 2026 to 2027 and included an optional extra year. It was intended to improve criminal investigations and support internal reforms within the force. She told the London Assembly’s Police and Crime Committee that her priority was ensuring public money is spent properly. She said the decision was based on concerns about value for money and accountability. “I make no apologies for making sure we have the right oversight over significant spending,” she said. “We must ensure contracts deliver value for Londoners.” Concerns over procurement and supplier choice The Mayor’s Office for Policing and Crime raised concerns about how the Met Police handled the procurement process. It said the force engaged seriously with only one supplier during the process. It also noted concerns about the company’s values and ethics, although those issues could not legally determine the final decision. Palantir rejected the criticism. The company said its proposal offered strong value for money and supported ongoing policing needs. It also confirmed it was considering legal action to challenge the decision. Impact on policing and possible job losses Met Police Commissioner Sir Mark Rowley warned that the blocked deal could affect staffing plans. He said the force must make budget savings this year and next year, which may lead to difficult decisions affecting public services. He said up to 750 job cuts could be required if funding pressures continue. Those decisions are expected to be finalised in the coming weeks. Conservative Assembly member Susan Hall criticised the decision. She warned it could lead to further cuts in frontline policing and questioned whether the deputy mayor would accept responsibility for the impact. Oversight and unanswered questions During the committee session, Liberal Democrat member Gareth Roberts asked how much detail the deputy mayor had seen about potential cutbacks. Comer Schwartz said she had not yet reviewed a full contingency plan. She added that discussions with the Met were still ongoing. Officials continue to assess how the funding gap will be managed while balancing technology investment, staffing levels, and service delivery across London policing.
Deputy Mayor Defends Blocking £25m Palantir Met Police Contract Amid Job Cut Fears
Business News
Inflation Holds at 2.8% as Food Price Rises Slow in UK Inflation stays unchanged despite earlier forecasts UK inflation stayed at 2.8% in May, according to the Office for National Statistics (ONS). Analysts had expected a rise to around 3%, but prices remained steady instead. Food price growth slowed during the month, helping balance increases in other areas such as transport and fuel. Experts had warned that global tensions, especially the Middle East conflict, could push prices higher. However, the latest peace deal between the US and Iran may reduce some of that pressure in the coming months. Transport costs drive inflation higher Transport prices continued to rise and remained the strongest contributor to inflation. Motor fuel prices were 24.6% higher than a year earlier. Overall transport inflation reached 6.8%, the highest level seen since December 2022. ONS chief economist Grant Fitzner said higher costs came mainly from airfares, vehicle taxes, and fuel prices. Food inflation slows to a 17-month low Food prices rose at a slower pace compared to previous months. Food inflation dropped from 3% in April to 2.2% in May, its lowest level since December 2024. Prices for meat, dairy, and vegetables increased, but at a reduced rate. Beef and veal prices still rose by 9.4% over the year. However, this was lower than the 13.2% rise in April and 18.8% in March, showing a clear slowdown. Retailers and food industry outlook The British Retail Consortium said lower food inflation reflects strong competition among supermarkets. Still, it warned that prices could rise again later in the year. The Food and Drink Federation said retail prices often lag behind production costs. It added that recent global disruptions, including issues around the Strait of Hormuz, have not yet fully affected shop prices. Chief executive Karen Betts explained that farmers, processors, and manufacturers face higher costs first, and these usually reach consumers after several months. Long term contracts for energy and ingredients also delay price changes. Inflation trend context Inflation has moved sharply over recent years. It fell close to zero in late 2020, then surged to 11.1% in October 2022. It later dropped to 1.7% in September 2024 before rising again to 2.8% in May 2026.
Inflation Holds at 2.8% as Food Price Rises Slow in UK
Economics
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