Business

Economy and markets, Swiss companies.

Business

Andy Burnham, Manchester Mayor, Tipped as Next UK Prime Minister

According to the Financial Times on July 13, 2026, Andy Burnham, Mayor of Greater Manchester and member of the Labour Party—the centre-left British party in government since July 5, 2024—is positioned as the probable next Prime Minister of the United Kingdom. Burnham must navigate between calls for stricter border controls and the expectations of his party's liberal wing on immigration. This balancing act illustrates a persistent internal fracture within the Labour Party over migration policy.

13 July 2026 at 20:48

Business

Jan Wachtel leaves Burda Media's media division after six months over strategic disagreement

Jan Wachtel, head of Hubert Burda Media's media division (8,600 employees, 449 titles), stepped down in June 2026 after approximately six months in the role, according to Handelsblatt. Burda announced his departure on the eve of a press inquiry from the German business daily. The official reason: inability to achieve consensus on the division's strategic direction. Wachtel's strategic plan, developed with external consultancy OC&C Strategy Consultants, was reportedly rejected by shareholders before even being presented to internal teams. He is succeeded by Elisabeth Varn. No decisions on staff or portfolio will be made until the new strategy is finalized.

13 July 2026 at 19:48

Business

US Strikes Against Iran: Teetering Ceasefire and Disputed Strait of Hormuz

The United States conducted a new series of military strikes against Iran on July 12, 2026, continuing an ongoing campaign, according to the Financial Times. A ceasefire between the two powers is described as "teetering"—extremely fragile and at risk of collapse amid escalating combat. The status of the Strait of Hormuz, a critical maritime passage in the Persian Gulf, remains disputed: Washington maintains it remains open to navigation, while Tehran claims it is closed.

13 July 2026 at 03:04

Business

2026 World Cup: England and Argentina advance to semi-finals, Klopp-DFB negotiations progress

England and Argentina qualify for the semi-finals of the 2026 World Cup. According to Handelsblatt, England beat Norway 2-1 after extra time and Argentina eliminated Switzerland 3-1, also after extra time. The England victory was marred by controversy over a Bellingham goal that appeared to touch suspended cables, but FIFA rejected Norway's protest. Argentine star Lionel Messi, 39, left the field bleeding after the Switzerland match. According to Kicker, negotiations to recruit Jürgen Klopp as German national team manager have entered a decisive contractual phase.

13 July 2026 at 02:59

Business

Strait of Hormuz: Oil jumps 4% after fourth wave of US-Iran airstrikes

On July 12, 2026, oil prices surged following the fourth US military strike against Iran in a week. WTI crude jumped 4.1% to $74.33 per barrel, while Brent advanced 3.88% to $78.96 per barrel at 21:15 ET, per CNBC and Bloomberg. The escalation followed an attack by Iran's Revolutionary Guard on a container ship in the Strait of Hormuz. Tehran declared the strait closed "until further notice" and struck US military installations in Jordan, Kuwait, Bahrain, and Oman. US Central Command denied the closure, claiming traffic continued unimpeded. European natural gas rose 2.7%.

13 July 2026 at 02:24

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