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00:00Hello and welcome to the latest Business Brief on Monday 5th May.
00:05Heineken's creating around 1,000 jobs as it pumps £40 million into its UK pub estate.
00:11Over 600 pubs will get a revamp, with dozens set to reopen over the next year.
00:15The brewer calls it a vote of confidence in the sector, despite rising costs.
00:20UK interest rates are expected to be cut to 4.25% this week, easing pressure on borrowers.
00:26Most economists see a 0.25-point cut as near certain, with inflation now steadily falling.
00:33The Bank of England meets on Thursday as it weighs global pressures and US tariff risks.
00:38Next is set to post rising profits this week, despite mounting cost pressures also.
00:43It made over £1 billion last year and has raised forecasts for both sales and profits.
00:48Boss Simon Wolfson says early trading this year has been better than expected,
00:52but rising wages and tax costs continue to challenge the high street.
00:56A survey suggests more than half of UK homeowners are choosing to renovate rather than move.
01:02Rising mortgage rates and living costs are pushing people to improve what they already have.
01:06Compare the market found 52% had recently renovated or planned to do so soon.
01:12President Donald Trump has threatened a 100% tariff on films made outside the US.
01:17He says foreign countries are luring studios away and calls it a national security threat.
01:23Trump claimed the US film industry is dying and warned of foreign propaganda,
01:27but it's unclear how such a tariff would work, as most films are shot internationally.
01:32And the legendary investor Warren Buffett is stepping down after six decades at the helm of Berkshire Hathaway.
01:38The 94-year-old investor will hand over to Vice Chairman Greg Abel by year end.
01:43He's been praised as everything good about American capitalism.
01:47Buffett also took aim at President Trump's tariffs, saying trade should not be a weapon.
01:51That's all for today. Thank you for listening.