Air France-KLM CEO on What It's Like Negotiating with Former Colleagues
Air France-KLM CEO Ben Smith discusses what it's like negotiating with former colleagues following his airline's partnership with Indigo.
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UK consumer morale ticks up but Middle East conflict clouds outlook
LONDON (Reuters) -British consumer confidence rose this month to its highest level of 2025 as sentiment about the economy improved, but the threat of rising energy bills stemming from war in the Middle East is hanging over the outlook, a survey showed on Friday. The consumer confidence index from market research firm GfK rose to -18 in June from -20 in May, the highest reading since December. A Reuters poll of economists had pointed to an unchanged reading. Nonetheless, the index remains below its long-run average of -11, and is lower than a year ago. Brent crude oil futures have increased by around 20% since the end of May - potentially a bigger problem for Britain which already has some of the most expensive energy prices in Europe and the highest rate of headline inflation in the region. The Bank of England said on Thursday it would remain vigilant about the risks to inflation from the conflict between Israel and Iran. "With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers," said Neil Bellamy, consumer insights director at GfK. The survey's gauges of past and future economic ticked higher in June, although the indexes that measure personal financial confidence - a better guide to consumer spending - were flat. Official retail sales data for May, due at 0600 GMT, are expected to show a fall in sales volumes following a surprise surge in April that statisticians linked to good weather. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Controversial Telegram Co-Founder Says He'll Leave $17 Billion Fortune to His 106 Children
Pavel Durov said in a new sinterview he will divide his estate among at least 106 children upon his death The Telegram co-founder is "the official father" to six children, conceived naturally with three different women, as well as over 100 children conceived via sperm donation, he said Durov has faced controversy for his work with Telegram, including accusations by French authorities that criminal activity thrives on the popular messaging appA controversial co-founder of the messaging platform Telegram says he is dividing his fortune between his children — and he says he has at least 106 of them. Pavel Durov, 40, told the French outlet Le Point in an interview about his decision to allocate his fortune. He's worth about $17.1 billion, per Forbes. Father to six children via natural conception, Durov said he has also been a sperm donor for 100-plus kids in 12 countries. The billionaire first became a sperm donor to "help a friend," he said, but otherwise it was anonymous. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. "I want to specify that I make no difference between my children: There are those who were conceived naturally and those who come from my sperm donations," he said. "They are all my children and will all have the same rights!" Durov said that his children will not have access to their inheritances, after his death, until 30 years from the day he gave the interview to Le Point, or June 19, 2055. "I want them to live like normal people, to build themselves up alone, to learn to trust themselves, to be able to create, not to be dependent on a bank account," he said. Durov decided to allocate his estate now because his "work involves risks," he said — an apparent reference to the legal issues he has faced over Telegram. The messaging app, founded in 2013, is popular for its privacy and encryption options. But that has also created problems with law enforcement. French authorities charged Pavel in August 2024 and accused him of allegedly being complicit in running a platform in which illegal activity — such as child sex abuse material, drug trade and fraud — could thrive, according to The New York Times and NBC News. The status of that case is not clear, but Durov told Le Point: "Defending freedoms earns you many enemies, including within powerful states." Telegram has also said it uses various content moderation techniques to weed out illicit behavior, NBC News reported. Read the original article on People
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38 minutes ago
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Consumer confidence up in June amid ‘dark shadow' of inflation and war
Consumer confidence improved marginally in June despite the 'dark shadow' of inflation and turmoil in the Middle East, figures show. GfK's long-running Consumer Confidence Index rose two points but remains firmly in negative territory at minus 18. Confidence in the general economy over the coming year rose five points, driving the improvement, but still remains at minus 28 – 17 points worse than last June. The forecast for personal finances over the next 12 months remained unchanged at positive two – two points down on this time last year. The major purchase index, an indicator of confidence in buying big ticket items, also remained unchanged at minus 16, seven points better than last June. Neil Bellamy, consumer insights director at GfK, said: 'Consumers have been resolute in their views on their wallets, with June's personal financial situation scores – past and future – unchanged from May. 'Yet confidence is still fragile because the dark shadow of inflation is a day-to-day challenge for so many of us. 'With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers. 'With so much volatility, now is certainly not the time to hope for the proverbial 'light at the end of the tunnel'.' Sign in to access your portfolio
