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Updated prices of PlayStation 5 consoles to go into effect on 2 April as electronics makers face rising cost pressures Sony is raising global prices of its PlayStation 5 consoles, including a $100 increase in the US, marking its second hike in less than a year as the entertainment giant grapples with rising costs of key components such as memory chips. The tech industry’s race to build out artificial intelligence inf…

Law firm is preparing claim on behalf of 30,000 consumers who fear the FCA’s redress scheme will shortchange them Lloyds Banking Group is facing a court battle with 30,000 aggrieved car loan customers who are to abandon the City regulator’s official redress scheme amid fears it will shortchange consumers and favour lenders. The claims law firm Courmacs Legal is planning to file a £66m omnibus claim on behalf of borro…

Yields on 10-year debt reach highest since the 2008 financial crisis, raising concerns of faster interest rate rises UK government borrowing costs have risen above 5% amid an intensifying global bond market sell-off fuelled by the Iran war. The yield – or interest rate – on 10-year debt hit its highest level since the 2008 financial crisis, rising 13 basis points to 5.081%, as investors acted on concerns about the ec…

Regulator fears use of ‘covert marketing strategies’ by Sephora and Benefit might fuel compulsive habits Italian regulators are investigating Sephora and Benefit Cosmetics over the apparent use of “covert marketing strategies” to sell beauty products to young girls that might be fuelling an unhealthy skincare obsession known as “cosmeticorexia”. The Italian Competition Authority said it was looking into promotions fo…

Allan Leighton predicts food prices will inevitably rise, as group’s full-year profits dive by a third to £764m Asda’s executive chair has called on the government to “stand up and start doing stuff” to support farmers and ease the price of fuel as he warned that food prices would inevitably rise as a result of the conflict in the Middle East. Allan Leighton said farmers were under pressure but the supermarket chain…

• UN votes to describe slave trade as ‘gravest crime against humanity’ Despite resistance from states who had role in chattel slavery, many feel this is an idea whose time has come John Mahama knows a thing or two about beating the establishment. On Wednesday, less than two years after completing a remarkable comeback as Ghana’s president with a landslide defeat of the ruling party candidate, he rallied the world to…

Piece by late South African artist Dumile Feni is part of new series History Doesn’t Repeat Itself, But It Does Rhyme On the second floor of the Reina Sofía, in the very spot where Picasso’s Guernica was first exhibited when it arrived in the Madrid museum 34 years ago, there now hangs a smaller, near-namesake of the Spanish artist’s most famous work. While African Guernica, which was drawn by the late South African…

Nigeria and UK look to strengthen trade and economic ties amid growing calls from Africa and Caribbean for reparative justice “There are chapters in our shared history that I know have left some painful marks,” King Charles said during a state banquet to welcome the Nigerian president, Bola Tinubu, to the UK, in a year in which the monarch is expected to come under renewed pressure to make a formal apology for transa…

Market in North Darfur and truck carrying civilians in North Kordofan hit as civil war approaches fourth year At least 28 civilians have been killed in two separate drone strikes in Sudan, according to health workers, as the country’s brutal civil war between the army and the paramilitary Rapid Support Forces (RSF) approaches its fourth year. A strike hit a market in the town of Saraf Omra, in North Darfur state, on…

Ukrainian president says peace deal proposed by US includes handing over land to Russia. What we know on day 1,492 Continue reading...