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Ted Baker ‘plans to shut all its UK shops within weeks’ July 26, 2024
Hundreds of staff at the fashion chain reportedly told they will lose their jobs Ted Baker could disappear from British high streets as the struggling fashion chain plans to shut all its stores within weeks.The business behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), entered administration in March. Continue reading...
Why Zuckerberg’s multibillion-dollar gamble doesn’t just matter to Meta July 26, 2024
As Llama 3.1 405B is made freely available, investors are asking when the huge industry spend will pay offSpending on artificial intelligence could hit a staggering $1tn, according to analysts concerned about whether there will be a return on such a spree. Mark Zuckerberg’s answer this week to such jitters was to release his latest […]
UK motorists still being overcharged for fuel, says watchdog July 26, 2024
Lack of competition ‘failing consumers’, with drivers paying £1.6bn more than they should have in 2023UK motorists are still being overcharged for fuel, according to the competition watchdog, which said they paid £1.6bn more than they should have last year alone.In its cost of living report, the Competition and Markets Authority (CMA) concluded that prices […]
Eight charts that lay bare Labour’s spending inheritance from Tories July 26, 2024
Rachel Reeves will next week highlight figures showing a tougher picture than Osborne received in 2010Reeves expected to reveal £20bn shortfallRachel Reeves is preparing to announce Treasury analysis of Labour’s spending inheritance from the Conservatives in parliament on Monday to highlight why she will need to make “tough decisions” in her autumn budget.The chancellor’s audit […]
Ed Miliband: people must be persuaded of need for pylons near homes July 26, 2024
Communities affected by construction of renewable energy infrastructure ‘have the right to see the benefits’UK politics live – latest updatesLabour will seek to persuade people living near proposed pylon routes and other renewable energy infrastructure that the developments are critical to bring down bills and tackle carbon emissions, the energy secretary said.Ed Miliband promised to […]
Eurostar cancels one in four trains after France arson attacks July 26, 2024
Disruption to continue all weekend and long diversions in place as passengers asked to postpone if possibleEurostar passengers travelling from London to Paris on Friday were asked to postpone trips if possible as the rail operator cancelled one in four trains over the weekend after arson attacks caused widespread disruption to France’s high-speed rail network […]
Drax Group to give shareholders £300m windfall as profits rise July 26, 2024
Owner of North Yorkshire power station earned £393m in government subsidies for biomassThe owner of the Drax power plant in North Yorkshire will give shareholders a £300m windfall after a sharp rise in taxpayer subsidies boosted its profits for the first half of the year to more than £500m.The power station, which receives hefty subsidies […]
Green economy could generate 3.3m jobs across Africa by 2030 – report July 26, 2024
Policymakers and funders are being urged to invest in training a workforce to serve the industries of the futureA greener economy could bring millions of jobs to some of the largest countries in Africa, according to a new report.Research by the development agency FSD Africa and the impact advisory firm Shortlist predicts that 3.3 million […]
Are you a cash stuffer or a doom spender? The new lingo helping people save money July 26, 2024
Move over ‘thrifty’ and ‘flashy’. A fresh wave of buzzwords are shifting people’s financial habits – meet five of themEvery Thursday night Jen Bowen, 39, a business analyst from Swindon, puts a Post-it on the fridge telling her husband how much to withdraw from the ATM or, if she needs a specific denomination note, the post […]
Climate hero or villain? Fossil fuel frenzy challenges Norway’s green image July 26, 2024
As it rapidly adopts clean technologies while drilling furiously for oil and gas, the Nordic nation is a paradoxThe average Norwegian, better known for loving nature than destroying the planet, is more likely than anyone else to drive to work in an electric car and warm their home with a heat pump. When they turn […]