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Economy May 18, 2026

Property Auctions Reveal Deepening UK Housing Crisis

A day at a London property auction exposed how repossessions and soaring demand are reshaping the U…
The Auction Floor: A Microcosm of the UK Housing CrisisAt the De Vere Grand Connaught Rooms in central London, a frantic scene of numbered paddles and gavel blows unfolded as a woman shouted, “That’s my house,” while her 20‑year home was auctioned off. The episode encapsulated the human toll of a market where mortgage arrears and rising living costs are pushing long‑term residents into public sales.Escalating Auction Volumes and Repo‑Driven ListingsProperty auctions have become a major channel for disposing of distressed assets. In 2025, Essential Information Group reported that nearly £5.9 bn of residential and commercial stock changed hands at auction, up from £5.5 bn the previous year. Repossessed homes now account for more than 20% of auction inventory, driven by higher mortgage rates and the broader cost‑of‑living crisis.14,025 mortgage repossession orders were issued in England and Wales in 2024 – the highest in five years.300 properties across England and Wales were listed for sale at the London auction, ranging from a £1 guide‑price boarded‑up house in the north‑east to multi‑million‑pound estates.£5.9 bn in Auction Sales Highlights Market ShiftThe jump to £5.9 bn signals a structural shift: auctions are no longer a niche for “homes‑under‑the‑hammer” but a mainstream venue for high‑quality properties. Examples from the day include:A one‑bedroom basement flat in Pimlico sold for just over £450,000.A four‑bedroom townhouse in Wapping fetched £800,000.A Devon bungalow with garden sold for £327,500.Buyers’ premiums of 2‑5% are added to these prices, further boosting auction house revenues.Why Auctions Are Becoming a Mainstream Buying ChannelIndustry insiders note a changing perception. Alex Greaves, a buying agent at Ridgestone Property, expects weekly repossession lots at auction and sees “an uptick” in central London listings. Liam Gretton, an estate agent in Wirral, likens high‑value homes at auction to selling a Picasso – the venue guarantees exposure and swift settlement.Younger buyers are also entering the arena. First‑time purchaser Alice Helps, 26, secured a Somerset semi‑detached house for £178,000 after a virtual bid, illustrating how auctions can provide a pathway onto the property ladder when traditional new‑builds are unaffordable.Future Outlook: Auctions and Affordable‑Home AccessAs mortgage pressures persist, the auction market is likely to expand further. Analysts anticipate:Continued growth in repo‑driven listings, especially in London and the South East.Greater adoption of online bidding platforms, lowering the psychological barrier for first‑time buyers.Potential policy scrutiny over the transparency and consumer protection standards of auction sales.If these trends hold, auctions could become a pivotal mechanism for delivering affordable housing, but they also risk cementing a market where distressed sellers have limited bargaining power.
#UK housing crisis #property auctions #mortgage repossessions
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World Wide May 18, 2026

Mali Army Drone Strikes Kill 10 Civilians at Wedding Celebration

Mali's army drone strikes killed at least 10 civilians preparing for a wedding in the central San r…
The Wedding TragedyDrone strikes by Mali's army have killed at least 10 civilians as they prepared to celebrate a wedding in the central region of San, marking another escalation in the conflict since armed groups launched a widespread coordinated assault late last month. The strikes on Sunday occurred during a security crisis after attacks on the military government's positions last month by fighters from the al-Qaeda-linked Jama'at Nusrat al-Islam wal-Muslimin (JNIM) and Tuareg separatists known as the Azawad Liberation Front (FLA).A resident of the Tene locality, where the strikes took place, told the AFP news agency that "10 of our children" were killed. "What was supposed to be a moment of joy in the village turned into immense sorrow," he said, speaking on condition of anonymity. "The tragedy occurred as the villagers were preparing the second edition of this traditional collective wedding, a major cultural event for this community," a security source who requested anonymity for safety reasons told AFP.The Escalating ConflictMali has been in a critical security situation since JNIM teamed up with rebels in the FLA in April. A deadly offensive on April 25 and 26 targeted strategic towns and killed the country's influential defence minister. Kidal and other towns and villages in the north have been captured and are now controlled by the FLA and JNIM, who have since imposed a blockade on the capital, Bamako.Another wave of attacks by al-Qaeda-affiliated fighters was also reported on May 7, killing at least 30 people in central Mali. The villages of Korikori and Gomossogou in the Mopti region were targeted. Mali, which is rich in gold and other valuable minerals, has been dealing with unrest since 2012. It has faced a deepening security crisis driven by the FLA, JNIM and the Africa Corps, a Russian government-controlled paramilitary that replaced the private Wagner Group.International InvolvementMali's former colonial ruler, France, and the United Nations had deployed soldiers and peacekeepers to the country to try to control the violence by armed groups, but Bamako expelled their forces after military coups in 2020 and 2021 and is now using Russian fighters instead. Al Jazeera's Nicolas Haque, who has reported extensively from Mali, had said, according to military sources, "the fighters involved in this coordinated attack are targeting military armed compounds", adding that "there is an unprecedented level of panic" in the military ranks.Haque told Al Jazeera he learned from witnesses that Russian mercenaries were "fighting in Bamako, around the airport, where they have one of their headquarters". Alex Vines, Africa director at the European Council on Foreign Relations, told Al Jazeera that Malian authorities appear to have been caught off guard by the latest wave of attacks.
#Mali #JNIM #FLA
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Sports May 18, 2026

'Energy, passion and optimism': How Arteta Created Emirates' Red-Hot Atmosphere

Mikel Arteta has transformed the atmosphere at Arsenal's Emirates Stadium, implementing various ini…
The LeadIt's being billed as the biggest Premier League game ever hosted at the Emirates Stadium. Tickets for Monday's meeting with Burnley were being sold for upwards of £650 as Arsenal attempt to edge closer to being crowned champions for the first time since they said goodbye to Highbury.The Atmosphere TransformationIn an attempt to recreate the red-hot atmosphere that inspired the victory over Atlético Madrid in the Champions League semi-final, Arsenal supporters have been encouraged to arrive two hours before kick-off on Monday night to greet the team when they arrive at the stadium. "The players were in the other bus, but I could see straight away all the staff and everybody was there just looking at each other and saying: 'Wow, we've taken this to a different level,'" Mikel Arteta said this week of the Atlético experience. "The engagement, the passion, the enthusiasm of our fans in their eyes, I think that was something special."Arteta's Vision for the EmiratesTransforming the atmosphere at the ground they moved into five years before the former midfielder signed from Everton in 2011 is one of Arteta's proudest achievements. He was there during the tail end of the Arsène Wenger era, when frustrations at no longer being able to compete for the biggest prizes frequently boiled over in the stands. Arteta realised things would have to change five days before he was unveiled as Unai Emery's successor in December 2019. In his final match as an assistant to Pep Guardiola at Manchester City, Arteta was in the visitors' dugout when Arsenal found themselves trailing 3-0 to City at half-time thanks to a Kevin De Bruyne masterclass.The Empty Stadium That Inspired Change"It was the first thing because a few days before I was appointed here, I was on the other bench with Man City and that image, that feeling of the stadium, the crowd … 50% of the stadium was empty," he remembered. "It really got into me. I said: 'With this, there is no project. This is not going to work.' Unfortunately it got worse very quickly when Covid hit. After that we had to rebuild everything. But when it's harder at the beginning, then it's better. So to see that transformation and that joy in the people, it's something that is beautiful to watch."Strategic Initiatives to Ignite the CrowdFrom an initiative to no longer show the second half of matches on screens on the concourse, to the stadium announcer leaving a pause after a goalscorer's first name is read out so the crowd can respond, Arteta has left no stone unturned. It was also his idea to remove the cover from the players' tunnel at the start of this season to allow both sets of players to hear the noise of the crowd before kick-off and promote more interaction with fans. "We need to ignite the atmosphere so they can play every single ball with us because it makes such a difference," Arteta said. "We want to play and win things. That's a non-negotiable. You need to have a stadium that is able to create those moments, for sure."The Impact on Team PerformanceWhile his battle cry for supporters to "bring your lunch" for the early kick-off against Bournemouth last month did not pay off as Arsenal slumped to a defeat that opened the door for City in the title race, there has been a noticeable difference since then. Despite showing a few nerves during the narrow win over Newcastle, the fans more than played their part against Fulham and Atlético and will be expected to stay patient should things not immediately go their way against a Burnley side who only lost 1-0 to City last month, albeit that was at Turf Moor.The Value of Fan Engagement"It's supposed to be like this and especially when you haven't won for that long, it's going to be edgy," said Arteta. "And I'm very glad that now we've turned that point and we are very optimistic, but being very, very present as well. When the stadium provides that level of energy, passion and optimism, they play every single action with the team. When we have the ball, when the opponent has the ball, in every element, they live the game like that. The value of that is just infinite. I think you cannot measure it and the team becomes different."Future Plans for the EmiratesArsenal are understood to be exploring ambitious plans that could include expanding the existing 60,704-capacity of the Emirates to beyond 70,000 in the near future, with reports this week that they are in talks with Populous, the architecture firm that designed the venue in the first place. Any significant redevelopment may require a temporary move away to Wembley or elsewhere, which is a scenario that Arteta will be desperate to avoid after the progress they have made.The Two-Way Street of Fan-Club Connection"Everybody at the club is trying to give his vision, his input, his support, to try to encourage that," he said of the new atmosphere. "But especially the fans or the supporters need to provide that. I think it has to come from them, naturally. And we have to provide that as well, it goes both ways. We are constantly connected with them to try to be the best stadium in the world."
#Arsenal #Mikel Arteta #Premier League
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World Wide May 17, 2026

Israel Kills Five Palestinians in Gaza, Including Three Community Kitchen Workers

Israeli attacks in Gaza have killed at least five Palestinians, including three community kitchen w…
The Gaza Conflict Escalates Israeli attacks across the Gaza Strip have killed at least five Palestinians, including three in Deir el-Balah, and others in Khan Younis and Beit Lahiya. Community Kitchen Workers Killed Sunday’s attack on the central city of Deir el-Balah targeted a community kitchen and all three victims were charity workers, according to Al Jazeera’s Hind Khoudary, reporting from Gaza City. Three community kitchen workers killed in Deir el-Balah Two others killed in Khan Younis and Beit Lahiya The Humanitarian Crisis Deepens “This shows that Israel is not only targeting people, but also organisations serving the community across Gaza,” Khoudary added. Reacting to the same attack, Hamas said it was “a deliberate war crime and a renewed scene of the ongoing genocide against our people in the Gaza Strip”. The Statistics of the Conflict According to Gaza’s Health Ministry’s statistics published on Sunday, Israel’s genocidal war on Gaza has killed at least 72,760 Palestinians since October 7, 2023, including at least 871 since the so-called ceasefire started last October. The Military Occupation Israel’s military occupies about 60 percent of Gaza’s territory, demarcated by a so-called “yellow line” buffer zone. In that zone on Sunday, the Israeli army said its forces killed a person saying, without providing evidence, that the victim was armed and posed an imminent threat to soldiers. The army statement also said a Hamas commander was killed, identifying the man as Bahaa Baroud. There was no immediate confirmation from the group.
#Israel #Gaza #Palestinians
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Tech May 17, 2026

AI Skills Arms Race Reshapes Automotive Workforce and Investment Landscape

Automakers are slashing traditional IT roles while aggressively recruiting AI talent, sparking a ne…
Executive Summary: AI‑Driven Workforce Shift in AutomotiveAutomotive giants are replacing legacy IT staff with AI‑centric engineers, creating a talent arms race that reshapes hiring, layoffs, and capital allocation across the sector.GM’s Strategic IT Layoffs and AI‑Centric HiringGeneral Motors announced the elimination of more than 10% of its IT workforce—about 600 salaried employees—to make room for talent skilled in AI‑native development, data engineering, cloud‑based engineering, agent and model development, prompt engineering, and new AI workflows. The company stresses that these hires will build AI systems from the ground up rather than merely applying AI as a productivity add‑on.Scale of Job Cuts and Investment Flows in the SectorCombined layoffs at Ford, GM and Stellantis exceed 20,000 U.S. salaried positions, roughly 19% of their combined workforces since the decade’s peak.Mind Robotics (Rivian spinoff) raised $400 million two months after a $500 million round, contributing to a total of $12.3 billion invested across RJ Scaringe’s three ventures.Other notable deals: Arkeus secured $18 million Series A; Rapido raised $240 million at a $3 billion valuation; Quantum Systems is courting roughly €600 million (~$703 million) from Airbus, Blackstone and others.Broader Implications for Automotive Innovation and LaborWhile layoffs reflect a net‑negative shift, AI creates high‑value roles that demand new skill sets. Companies like Samsara illustrate practical AI revenue streams—its pothole‑detection model, trained on millions of truck‑camera feeds, is now being sold to municipalities such as Chicago. However, anecdotal evidence suggests many firms are still experimenting with AI without clear roadmaps, raising concerns about mis‑allocation of resources and the speed of workforce reskilling.What the Next Year May Hold for AI Talent and Capital in MobilityExpect intensified competition for AI engineers, prompting further IT reductions at legacy automakers.Venture capital will likely continue to favor AI‑enabled logistics, autonomous fleets, and sensor‑data platforms, sustaining high‑growth funding rounds.Regulators may scrutinize AI‑driven safety features (e.g., Waymo’s flood‑road updates) and the ethical impact of workforce displacement.Successful adopters—those that integrate AI into core product pipelines rather than as an afterthought—will capture disproportionate market share and attract the next wave of investment.
#General Motors #Rivian #Mind Robotics
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Business May 17, 2026

Swatch Closes Stores as Royal Pop Watch Launch Sparks Crowd Chaos

Swatch shut stores in several European cities and New York after massive crowds gathered for the li…
Swatch Stores Shut Amid Crowd Turmoil Over Royal Pop LaunchSwatch was forced to close multiple stores across Europe and the United States after queues of hundreds turned chaotic during the launch of its limited‑edition Royal Pop timepieces, a collaboration with luxury watchmaker Audemars Piguet. Police in the Paris region deployed teargas to disperse a 300‑person crowd, while fights broke out in Milan and stores in Amsterdam, Utrecht, London and six other UK cities remained shut for safety.Mass Queues and Police Intervention Across Europe and New YorkHundreds camped overnight in France, the Netherlands, Italy and the UK.Police used teargas in the Paris region after a metal shutter and two security gates were damaged.In Milan, a fight erupted at opening time; in New York’s Times Square the crowd was described as a "mosh pit".Swatch stores in Amsterdam, Utrecht, London and six other UK cities stayed closed pending security reviews.Resale Prices Skyrocket as Retailers Struggle to Meet DemandRetail price of a Royal Pop watch: $400 (≈£300).One buyer resold a watch for $4,000, a ten‑fold markup.Another purchaser paid $2,400, roughly $2,000 over retail, citing the difficulty of acquiring an Audemars Piguet piece.Retail Security and Brand Reputation Under ScrutinyThe incidents highlight the challenges luxury‑fashion collaborations face when demand outstrips supply. Swatch’s underestimation of security needs led to property damage and police involvement, while the chaotic scenes risk tarnishing both Swatch’s and Audemars Piguet’s brand images.Future Limited‑Edition Drops May Require Tightened ControlsAnalysts expect brands to adopt stricter crowd‑management protocols, pre‑sale reservations and limited‑quantity online allocations for upcoming collaborations. Without such measures, future launches could repeat the safety concerns and market distortions seen with the Royal Pop release.
#Swatch #Audemars Piguet #Paris
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Health May 17, 2026

Counterfeit Flea Treatments Pose Serious Health Risks to Pets

Counterfeit flea treatments sold at discounted prices online contain harmful chemicals that can cau…
The Growing Threat of Fake Pet MedicationsAs pet owners seek to save money on essential treatments, counterfeit flea medications have emerged as a serious health hazard. These fake products, often sold at half the normal price through online marketplaces and social media, contain dangerous chemicals that can cause vomiting, seizures, breathing difficulties, and even death in pets.The Veterinary Medicines Directorate (VMD) has reported an increase in cases involving counterfeit treatments, with one notable case requiring extensive surgery for a cat after its owner used what they believed to be genuine Frontline flea treatment.Identifying Dangerous Counterfeit ProductsCounterfeit flea treatments often display several warning signs that pet owners should recognize. The most obvious indicator is the absence of the VMD logo, which is required on all legitimate veterinary medications in the UK.Other red flags include:Spelling mistakes on packagingBlurred or poorly reproduced logosText in foreign languagesLack of batch numbers and expiry datesUnusual chemical odors (genuine treatments are odorless)In one documented case, a counterfeit version of Frontline treatment incorrectly used the Italian word "gatti" (meaning cats) on packaging that claimed to be for "gats and ferrets."The Financial and Emotional Cost of CounterfeitsWhile counterfeit flea treatments may appear to offer significant savings—typically selling for less than £10 compared to the legitimate £20 for a three-month supply—they can result in substantial veterinary bills when pets suffer adverse reactions. In extreme cases, pet owners face the emotional trauma of losing a beloved family member.Charlotte Inness, a veterinarian who founded VetMedi.co.uk, emphasizes that the consequences range from wasted money to "avoidable suffering or the sudden loss of a beloved family member."The Rise of the Grey MarketA "grey market" for animal medications has flourished online, with unregulated websites and social media accounts selling counterfeit products to unsuspecting pet owners. These sellers often request payment via wire transfer, making it difficult for buyers to dispute charges or seek refunds.The VMD has taken action against multiple eBay sellers and retailers following reports of counterfeit treatments, but the problem continues to grow as more pet owners turn to online shopping for convenience and savings.Protecting Your Pet from Counterfeit DangersTo ensure the safety of their pets, owners should:Purchase medications only from authorized retailers or veterinary practicesCheck for the VMD logo and verify products through the VMD's online databaseBe wary of prices that seem too good to be trueReport suspicious products to local trading standards and the VMDSeek veterinary care immediately if a pet shows adverse reactions after treatmentBoehringer Ingelheim, the manufacturer of Frontline, advises customers to use their official website to find authorized retailers and avoid potentially dangerous counterfeit products.
#Counterfeit Medicines #Pet Health #Flea Treatments
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Business May 17, 2026

Jaguar Land Rover and General Motors Eye £900m Military Truck Contract

Jaguar Land Rover and General Motors are vying for a £900m contract to build thousands of military …
The Defense Sector Expansion by Automotive GiantsJaguar Land Rover and General Motors are considering an expansion into UK defence via a £900m military contract, as carmakers seek to exploit a spending boom by Nato countries racing to rearm. The manufacturers are among a group of automotive firms vying to make thousands of 4x4s for the armed forces to replace an ageing fleet of Land Rovers that have been out of production since 2016.Technical Specifications and Strategic PartnershipsThe new trucks will be used across the army, the Royal Navy and the Royal Air Force for reconnaissance and patrol missions as well as in logistics, with the first deliveries expected in 2030. JLR would be the most high-profile UK carmaker to turn to the newly booming defence sector as manufacturers grapple with a transition to electric vehicles and rising competition from Chinese rivals.General Motors, the US automotive company, is tabling a bid in partnership with BAE Systems, the British defence company, and NP Aerospace, the Coventry-based manufacturer that maintains the existing Land Rover fleet. GM does not have a UK factory and its bid would involve Chevrolet-based trucks produced in the US being shipped to Britain for military modifications.Financial Implications of the Defense ContractThe MoD contract covers an initial tranche of about 3,000 vehicles ranging from patrol and logistics trucks to armoured reconnaissance models, but more are expected that will eventually replace the combined 7,800 Land Rovers and Austrian-made Pinzgauer trucks now used across the military. Defense spending across Europe, including Britain, rose 14% last year to $864bn (£638bn), the sharpest annual increase since the end of the cold war, according to the Stockholm International Peace Research Institute.Industry Transformation Amid Global ShiftsIn Germany, Volkswagen has been in talks to switch production at one of its factories from cars to heavy-duty trucks that carry anti-missile systems for the maker of Israel's Iron Dome air defence system. Renault recently said it was repurposing part of its Le Mans chassis plant to make drones for the French government. Last year, Keir Starmer committed to spending 5% of GDP on defence by 2035, amid a rise in military spending across Nato that has made government contracts an increasingly attractive alternative for carmakers facing flagging profits.Future Outlook for Defense Vehicle ManufacturingCompanies have yet to be told how many vehicles they will need to supply. An industry source said the delay was linked to the late release of the defence investment plan, Britain's blueprint for military spending over the next five years, which was initially supposed to be published last autumn but is still being finalised. Other bidders include Ineos (partnering with SMT), Babcock (using modified Toyota), Rheinmetall (with Mercedes 4x4), and General Dynamics (with Ford pickup).A government spokesperson said: "We are committed to ensuring British industry plays a central role in delivering the next generation of light mobility vehicles expected to be in the hands of soldiers by 2030."
#Jaguar Land Rover #General Motors #UK Defence
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Entertainment May 17, 2026

TV Highlights: Timothy Spall's Murder Mystery Comedy Returns With New Season

Tonight's television lineup features the return of Timothy Spall's quirky murder mystery comedy 'De…
The Return of Quirky Detective DuoDeath Valley returns to BBC One at 8.15pm, bringing back the enjoyably quirky murder mystery comedy featuring retired actor John Chapel (Timothy Spall) and Welsh detective Janie Mallowan (Gwyneth Keyworth). This season, John has a new goatee and girlfriend, which doesn't sit well with Janie, especially since he's now dating her mother. Despite this family complication, they reunite as an unlikely detective duo when a man doing community service is found dead at an outdoor rave site.Adventure in Russia's Far EastAt 7.15pm on BBC Two, Expedition With Steve Backshall begins its second thrilling series at the Kronotsky River in Russia's far-east Kamchatka Peninsula. The explorer and his team of top kayakers attempt a descent that's never been done before, facing additional challenges from active volcanoes and brown bears in this remote wilderness.Documentary on Justice for Rape VictimsBelieve Me airs on ITV1 at 9pm, offering an unrelenting look at the gaslighting and retraumatisation of rape victims as they seek justice. The show continues to follow the case of John Worboys as he continues his attacks while police make glacial progress. Viewers witness the ongoing effects on victims such as Sarah, who has given birth to her second child while navigating the justice system.Amateur Singing Competition Reaches Grand FinalYour Song: The Grand Final on Channel 4 at 9pm brings the amateur singing competition hosted by Alison Hammond to its climax with a sold-out concert at London's Hackney Empire. After heartstring-tugging public heats in Liverpool, Edinburgh, London and Birmingham, five finalists compete for the title. Supportive mentors Sam Ryder and Paloma Faith face the difficult task of deciding the winner.Jools Holland Marks Milestone with New SeriesThe eternal live music show Later … With Jools Holland begins its 68th series on BBC Two at 10pm, coinciding with host Jools Holland turning 68. Despite his age, his passion for new sounds that can be decorated with boogie-woogie piano remains undimmed. The opening episode welcomes Niall Horan, Tomora, Aja Monet, Getdown Services and Jools's old muckers Squeeze to the Ally Pally theatre.Australian Thriller Explores Neighborhood SecretsAt 10.20pm on ITV1, The Family Next Door presents an aesthetically pleasing Australian thriller about secrets hidden in an otherwise idyllic suburb. When Isabelle (Teresa Palmer) rents a home on Pleasant Court cul-de-sac in a seaside town, she becomes obsessed with her neighbors and discovers a mystery to solve.Film Choices Explore Complex Family DynamicsOn BBC Three at 10.40pm, God's Creatures examines how far a mother's love can go when Emily Watson's Aileen faces a life-changing question after her prodigal son, Brian (Paul Mescal), returns home from Australia. When Sarah (Aisling Franciosi), her young colleague at the seafood processing factory, is raped and accuses Brian, Aileen provides him with a false alibi. The claustrophobic drama reveals how tight-knit communities often respond to challenges with denial and exclusion, with women typically bearing the consequences.Following that, at 10.50pm on BBC Two, Brother presents a heartfelt sibling drama about the long reach of trauma. Directed by Clement Virgo, the film follows Lamar Johnson's young Jamaican-Canadian Michael as he ekes out an existence with his grief-numbed single mother, Ruth (Marsha Stephanie Blake). In a parallel timeline, the teenage Michael is guided to adulthood by his older brother, Francis (Aaron Pierre), a charismatic would-be hip-hop musician struggling to rise above police racism, gang violence, and homophobia.Live Sport Action Across Multiple ChannelsSports fans have multiple options tonight, beginning with Women's Six Nations Rugby: Wales v Italy at noon on BBC Two, followed by France v England at 4.25pm on BBC One. Football enthusiasts can catch Premier League matches with Man United v Nottingham Forest at noon on Sky Sports Main Event and Newcastle v West Ham at 5pm.
#Timothy Spall #BBC One #ITV1
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