Daily Recap: Business — 30 July 2026

Business news today captured a market mood split between confidence and caution. The Bank of England kept rates on hold at 3.75%, balancing easing domestic inflation against the risk that renewed Iran tensions and higher oil prices could reignite price pressures. Corporate results, by contrast, offered a show of strength: Apple posted a standout June quarter, with revenue rising to $109.4 billion and profit to $29.8 billion, driven by strong iPhone and services growth. In Nigeria, billionaire investor Femi Otedola deepened that sense of conviction, spending another N222 billion to lift his stake in First HoldCo to just under 26%, close to but below the threshold that would trigger a takeover offer. Yet enthusiasm was not universal: AI-linked optical supplier Zhongji Innolight pulled off a blockbuster Hong Kong listing, only to see its shares slip on debut as investor appetite for AI plays showed signs of cooling.

Top Business stories

• England appoint Stephen Fleming as Test coach; Joe Root returns as captain (17 sources)
• Bank of England holds interest rates at 3.75% amid renewed Iran inflation risks (10 sources)
• Apple reports Q3 2026 earnings: $109.4B revenue, $29.8B profit, EPS $2.02 (6 sources)
• China vows retaliation over U.S. import ban on Chinese robots and power inverters (5 sources)
• Shell profits more than double as Iran-war volatility boosts oil prices (5 sources)
• Zhongji Innolight shares drop after HK$6.8 billion IPO debut (5 sources)
• Adidas shares fall after World Cup marketing spending cuts into second-quarter profit (5 sources)
• Shell second-quarter profit rises sharply on stronger refining and energy trading (4 sources)

Read the full daily recap on NewSumm →