Move expected to help reduce waits of up to 15 years to connect solar power installationsBritain’s electricity system operator will tell energy developers to get on with their projects or get out of the queue for a grid connection as it struggles to manage the growing backlog of delayed green energy projects.The ultimatum is expected to help speed up the 10- to 15-year wait for a grid connection, which is holding back billions in green investment and threatens to derail the UK’s progress towards its climate targets. Continue reading...
US adds 339,000 jobs in May, surpassing forecasts, as unemployment rate increases slightly to 3.7%High interest rates, a recent banking crisis and Washington’s fight over the debt ceiling may have shaken the US economy recently, but the US jobs market continues to show signs of strength.The US Bureau of Labor Statistics (BLS) reported 339,000 jobs were added in May, surpassing forecasts that predicted the increase would be approximately 190,000 jobs and a sign of continued growth from the jobs market despite the Federal Reserve’s continuing efforts to cool the economy. Growth in the labor mark[...]
Michelin-starred Wolfgang Puck and Alain Ducasse join forces to create one-off ‘last supper’ for diners at Park Lane hotelFor the super-rich, it appears, one world-famous Michelin-starred chef is no longer quite enough to make a memorable meal. Wealthy gastronomes are increasingly asking high-end restaurants and hotels to host so-called “four hands” dinners in which pairs of renowned chefs team up to create collaborative set-course meals.Next Wednesday, 60 diners will sit down to a “glorious four-hands banquet” created by the pioneering French chef Alain Ducasse in partnership with Wolfgang Pu[...]
Corporation board member to assume role from 27 June after resignation of Richard SharpUK politics live – latest updatesProf Dame Elan Closs Stephens, a politically neutral expert on broadcasting regulation, has been appointed as the acting chair of the BBC after the Conservative donor Richard Sharp resigned from the position over a perceived conflict of interest in a secret loan arrangement for Boris Johnson.Sharp stepped down as chair of the corporation in April, after being found to have broken rules by failing to disclose at the time of his appointment that he played a role in helping the [...]
Investors also vote to delist firm from London’s junior market and change name to Bricks Newco plcShareholders in Purplebricks have voted overwhelmingly to sell the online estate agent for only £1 to Strike, a competitor backed by the telecoms tycoon Sir Charles Dunstone.In a vote held on Friday, 91% of the votes were cast in favour of the deal, which was recommended to investors by the board last month. Continue reading...
Rises of up to 0.75 percentage points follow increases at First DirectCustomers of HSBC will receive a boost to their savings after the bank announced an increase to interest rates, as Britons enjoy some of the highest rates in more than a decade.The lender is increasing rates on some of its savings accounts, with increases of up to 0.75 percentage points. Continue reading...
Ella Irwin oversaw content moderation at the struggling social network, which has been plagued with woes since Musk’s takeoverTwitter’s head of trust and safety, Ella Irwin, has resigned from the company, marking the latest high-profile departure from the struggling social network since Elon Musk acquired it in October.Irwin confirmed her departure to news outlets on Thursday but declined to comment further. Fortune earlier reported that Irwin’s internal Slack account appeared to have been deactivated. Continue reading...
Key subsidy scrapped last year, and carmaker says growth in sales has tailed off in BritainBusiness live – latest updatesFiat has called on the government to boost incentives for British motorists to buy electric vehicles, after warning that growth in UK sales of the vehicles has tailed off after a key subsidy was scrapped last year.Writing in an open letter to the government, the car manufacturer said other countries around the world were providing more support for the transition to electric vehicles and argued more action was required in Britain. Continue reading...
40,000 sq ft manor overlooking the Pacific Ocean in Malibu is thought to be California’s most expensive home everWith its steep green cliffs overlooking the Pacific Ocean, Malibu is a top contender in America’s ultra-luxury real estate market. Its rise in the rankings of the favorite spots of the super-rich was solidified again in past weeks, with reports that Beyoncé and Jay-Z purchased a 40,000 sq ft oceanfront mansion in the coastal enclave.TMZ first reported that the star couple had snapped up a modernist mansion designed by the celebrity Japanese architect Tadao Ando. With a sale tag of $[...]
Half of services on affected lines cancelled on Friday with only 40% of trains set to run on Saturday during Aslef industrial actionWhich trains will run on Friday and Saturday in Great Britain?More than 20,000 rail workers in England have begun a 24-hour strike that will cancel half of the services on affected lines as part of a long-running dispute with train operators over jobs, pay and conditions.The stoppage by the National Union of Rail, Maritime and Transport Workers (RMT) – the second of three by rail unions to hit the network this week – will affect most operators in England and some [...]
Guardian News and Media Limited or its affiliated companies. All rights reserved. 2023
Fearing a potential conflict in Asia, western companies are looking to move production out of Taiwan. But turning away from the self-ruled island will come at a high price for manufacturers
The sector’s switch to renewable energy is a good start — but the supply chain accounts for most of its carbon footprint
BT and Vodafone have unveiled large job cuts, but investors await evidence they can prosper
Move follows sweeping restructuring plans announced by rivals including BT and Vodafone
Diversified SSE powers on despite the energy crisis
Lisbon’s new security assessment could deal blow to Chinese telecom equipment group’s ambitions in Europe
New model for clients including Sky, TalkTalk and Vodafone not a threat to competition, regulator says
UK would probably block full purchase of the telecoms group by a debt-heavy foreign buyer
Billionaire raises holding from 18% but says he has no plans to make an offer for UK telecoms company
The telecoms operator says it will shed 55,000 staff by 2030, but investors quickly see through the latest plan
© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.
The company, which trades in doom-laden warnings, may have found the crisis it was looking for
Social media platform’s parent company Meta seeks to deter law forcing online groups to pay publishers and broadcasters for content
Oliver Samwer quietly transforms one of Europe’s most aggressive VC firms into a more conservative investment house
Big investor says chipmaker will be among handful of tech groups to drive stocks higher
Group has growing customer base and emerging profits, but the threat from Microsoft looms
Virtual world venture makes sense ahead of a technology revolution that could threaten the iPhone empire
The Starlink internet service is vital for Ukraine but the billionaire has expressed concerns about its military use
Chief Mark Zuckerberg teases new Quest 3 product as tech group continues to develop metaverse ambitions
Generative AI has uses for the legal and health professions but is also a trap for the unwary
The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times
© Copyright The Financial Times Ltd 2023. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.