Daily Recap

Tuesday, 12 May 2026

Business news today captured a market torn between financial strain and corporate ambition. In the U.S., inflation accelerated to 3.8% in April, with a sharp monthly rise underscoring how higher energy costs tied to the Iran conflict are feeding through to household budgets and complicating the outlook for consumers and policymakers alike. In Britain, that same affordability pressure is shaping housing finance, as Lloyds rolled out a mortgage for first-time buyers requiring just a £5,000 deposit, a sign lenders are trying to respond to how hard it has become to save for a home. Meanwhile, in the corporate world, eBay firmly rejected GameStop chief Ryan Cohen’s roughly $56 billion takeover approach, dismissing it as not credible or attractive and signaling confidence in its own strategy. The rebuff leaves open questions about whether Cohen escalates, but for now eBay has shut the door on a blockbuster deal.

Recap for Tuesday, 12 May 2026

Photos from today's Business coverage
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