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Teens who use social media two hours daily at higher risk of depressive symptoms, study finds

Teenagers who spend hours glued to social media are likely to experience poorer mental health and a decline in wellbeing, a decade-long study shows, with young girls most at risk.

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© Photograph: Asanka Ratnayake/Getty Images

© Photograph: Asanka Ratnayake/Getty Images

© Photograph: Asanka Ratnayake/Getty Images

Expectations are high for the IPO of SpaceX. The company - which includes rockets, satellites, and AI units - could become one of the most valuable in the world following its market launch on Friday. Founder Elon Musk is set to retail near total control of SpaceX, with 85% of the voting rights. Igor Pejic, Tech Investing Strategist and author of the book "Tech Money," says Musk's personal influence is likely to draw in more investors - but the company is overvalued at $1.75 trillion. 

Iranian leadership has not confirmed claim, after the US president announced that planned strikes on Iran had been cancelled

Donald Trump claimed on Thursday that Washington and Tehran were on the verge of signing a peace agreement, and announced that he was cancelling fresh missile strikes, after two days of escalating attacks on Iran that threatened to collapse the fragile ceasefire.

His comments followed a new bout of public diplomacy by social media, but were dismissed by Iran’s foreign ministry, which said a final decision on an agreement had not been reached.

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© Photograph: Aaron Schwartz/Pool/Aaron Schwartz - Pool/CNP/Shutterstock

© Photograph: Aaron Schwartz/Pool/Aaron Schwartz - Pool/CNP/Shutterstock

© Photograph: Aaron Schwartz/Pool/Aaron Schwartz - Pool/CNP/Shutterstock

European Central Bank increases main deposit rate to 2.25%, with two further rises expected by next spring

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The European Central Bank has raised interest rates for the first time since 2023 in response to higher inflation caused by the war in Iran.

The ECB raised its main deposit rate from 2% to 2.25% in a move that financial markets expect to be the first of three rises by next spring.

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© Photograph: Kirill Kudryavtsev/AFP/Getty Images

© Photograph: Kirill Kudryavtsev/AFP/Getty Images

© Photograph: Kirill Kudryavtsev/AFP/Getty Images

Broadcaster reveals its revenues from expanded tournament are running about 30% higher than for Euro 2024

The World Cup will be the most lucrative sports event ITV has ever aired, the broadcaster has said, with bosses calling the tournament a “six-week summer Super Bowl moment” for TV advertising.

The channel is airing 51 of the 104 matches across the men’s tournament, co-hosted by the US, Mexico and Canada, which is the biggest yet after an expansion from 32 to 48 teams.

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© Photograph: John Raoux/AP

© Photograph: John Raoux/AP

© Photograph: John Raoux/AP

It’s the first estimate of how many Americans are sneaking onto Polymarket’s banned crypto-based platform.

SpaceX, Elon Musk's rocket and AI company, presents potential for investors. But its futuristic, unproven plans also carry significant financial risks.

Elon Musk is set to make hundreds of billions even as communities in Mississippi and Tennessee are fighting to stop the gas turbines powering xAI's supercomputers.

Sources say firm is asking for more than £1bn in row that could put pressure on two countries’ relationship

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The Chinese owner of British Steel has started a formal process under an international treaty to win compensation from the UK government over its decision to nationalise the Scunthorpe steelworks.

Jingye Steel said it would seek to recover money via China’s bilateral investment treaty with the UK, after more than a year of negotiations over the size of any payout. The dispute could put pressure on the relationship between China and the UK.

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© Photograph: Ryan Jenkinson/Getty Images

© Photograph: Ryan Jenkinson/Getty Images

© Photograph: Ryan Jenkinson/Getty Images

As the 2026 FIFA World Cup kicks off in Mexico this Thursday, we take a look at the tournament’s expected economic impact – both globally and on host countries. But the real winner, it seems, is FIFA, with record revenues forecast at $11 billion. Also in this edition, markets react to a fresh flare-up in violence in the Strait of Hormuz, and SpaceX faces a lawsuit from an environmental group ahead of its blockbuster market debut this Friday.

Mike Ashley’s retail group has made near-€2bn bid for the German fashion house, in which it holds a 26% stake

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Shares in Hugo Boss jumped nearly 10% on Thursday after the company said it would “thoroughly examine” a near-€2bn takeover approach from the Sports Direct owner Frasers Group.

Mike Ashley’s fashion and sportswear business has pounced on the German fashion house, in which it already owns just over a 26% stake, saying late on Wednesday that it was offering about €1.98bn (£1.73bn) to take full control .

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© Photograph: Danish Siddiqui/REUTERS

© Photograph: Danish Siddiqui/REUTERS

© Photograph: Danish Siddiqui/REUTERS

Home secretary also urged to force tech firms into sharing data on stolen devices and if they are reactivated

The Metropolitan police commissioner, Sir Mark Rowley, has asked the home secretary, Shabana Mahmood, to force all phone companies to make stolen devices “unusable bricks” in order to make them harder to sell on and less desirable to steal.

London is widely regarded as the phone-snatching capital of Europe, with between 200 and 300 devices stolen each day. The city accounts for up to three-quarters of all mobile phone thefts in England and Wales.

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© Photograph: Jeffrey Blackler/Alamy

© Photograph: Jeffrey Blackler/Alamy

© Photograph: Jeffrey Blackler/Alamy

Budget airline describes inquiry as ‘bogus’ as watchdog says it is only large carrier flying from UK to impose charge

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Europe’s biggest low-cost airline, Ryanair, is facing an investigation over the mandatory fee it charges a parent to sit with their child.

The Competition and Markets Authority (CMA) said the Irish carrier’s terms and conditions require at least one parent to sit with their children, including those with disabilities, and bills them about £8 a flight to do so.

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© Photograph: Holger Burmeister/Alamy

© Photograph: Holger Burmeister/Alamy

© Photograph: Holger Burmeister/Alamy

Forbes Ukraine first reported on June 8 that Schmidt and his wife, Wendy Schmidt, had acquired a combined 36% stake in seven companies under the Dragon Capital group, a major Kyiv-based investment firm.

Whistleblowers from Mitie allege some employees have made offensive remarks or liked abusive social media posts

One of the government’s key contractors has launched an investigation into allegations of racism, antisemitism, Islamophobia and hate speech among staff working in immigration removal centres, the Guardian has learned.

Whistleblowers from the company, Mitie, have alleged that some staff members working in immigration removal centres and deporting migrants have made offensive comments at work and in social media posts.

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© Photograph: Gareth Fuller/PA

© Photograph: Gareth Fuller/PA

© Photograph: Gareth Fuller/PA

The company changed course after researchers spoke out against the policy, which would have covertly limited Claude’s ability to develop competing AI models.

Blundy’s investment firm, BBRC International, owns about 13% of the US-listed lingerie brand, giving it a potential platform to launch a hostile takeover

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Australian billionaire Brett Blundy is waging a high-stakes campaign to oust the long-term chair of Victoria’s Secret & Co, setting the stage for a showdown at the company’s annual meeting in the US on Thursday.

Blundy’s investment firm, BBRC International, owns about 13% of the US-listed Victoria’s Secret lingerie brand, making it the second-biggest single shareholder and giving it a potential platform to launch a hostile takeover.

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© Photograph: Dimitrios Kambouris/Getty Images for Victoria's Secret

© Photograph: Dimitrios Kambouris/Getty Images for Victoria's Secret

© Photograph: Dimitrios Kambouris/Getty Images for Victoria's Secret

A new report on Wednesday showed inflation rising 4.2 percent in May, marking its highest level in three years and underlining how hard the Iran war is hitting consumers. The Labor Department report is unwelcome news for President Trump and the GOP in an election year where affordability is the dominant issue. Democrats were already…

A new report on Wednesday showed inflation rising 4.2 percent in May, marking its highest level in three years and underlining how hard the Iran war is hitting consumers. The Labor Department report is unwelcome news for President Trump and the GOP in an election year where affordability is the dominant issue. Democrats were already…

Major artificial intelligence labs are done waiting on Washington to pass a national standard for AI, turning to state bills to carve out their own policy lines while Congress tries to catch up.  Most AI labs support a national safety framework for AI that would eliminate the patchwork of state regulations, but they are also…