‘From high flyer to dead parrot’: former billion-dollar eco-shoe brand Allbirds sold for $39m

Allbirds, the San Francisco sustainable trainer brand once valued at more than $4bn, is being sold for just $39m (£29.6m) after global demand for its wool-based footwear failed to materialise.American Exchange Group, the owner of a string of brands including the fashion label Ed Hardy and the accessories maker Born, is snapping up the struggling company once touted as the future of footwear.Allbirds listed on the US stock market in 2021, but its shares have since tumbled by more than 99%, leaving it valued at just over $20m.In its early years, the brand enjoyed rapid success, and in the first two years since its official launch in March 2016, Allbirds sold more than 1m pairs of its original merino wool trainers

‘If he’d stayed on the golf course, we’d be in a better place’: experts on Trump’s tariffs, one year on

Before Donald Trump declared “liberation day” on 2 April 2025 and shocked the world by raising import tariffs on nearly every country the US did business with, he had spent almost three months causing chaos in Washington.The wholesale slashing of government jobs under Doge (the “department of government efficiency”) and the defunding of US aid agencies had shown White House watchers that the US president was in a hurry to upset institutions he considered profligate or useless.Investors quickly understood that chaos was an essential tool in Trump’s armoury. Almost as soon as he was inaugurated, there was a steady decline in the value of the dollar against other currencies. Investors sold assets denominated in dollars and bought assets elsewhere: Europe, Asia, South America

Secondhand clothes sales forecast to hit $289bn as AI helps shoppers find deals

Secondhand clothing sales are forecast to surge 12% this year to $289bn (£217bn) and continue to step up, as AI and social media influencers help shoppers find the items they want.The rise of sites such as Vinted, Depop, Vestige and ThredUp is expected to power an average 9% annual growth over the next five years to reach $393bn, twice the pace of the overall clothing market.The prediction came in ThredUp’s annual resale report, which uses research from market analysts GlobalData. In 2021 the market was worth just $141bn, less than half this year’s expected total.Brands such as Dr Martens, Zara and Mulberry have begun selling their own secondhand items or repairing and reviving used items as demand booms

Thames Water ‘close to deal that would spare it new Ofwat fines until 2030’

Thames Water is said to be close to a deal with its regulator that would allow the company to avoid new fines for four years, as long as it commits to investing in the business.The controversial offer, reported by the Financial Times, has been put forward by creditors who are hoping to save the struggling utility from being temporarily renationalised.Thames has been trying to stave off financial collapse for more than two years, after building up a £17.6bn debt pile in the decades after its privatisation. Bosses tried to sell the company last year but faced embarrassment when their preferred bidder, KKR, pulled out of the deal at the last minute

Larva lamped: Colin the Caterpillar loses to eight lookalikes in cake taste test

After a busy 35 years as a British party favourite, not to mention a bruising court battle with an alleged copycat, you might think Colin the Caterpillar had earned his place at the top.But the “original” chocolate caterpillar cake has now been labelled the worst, bested by lookalikes in a taste test.In a contest against eight supermarket rivals including Cecil, Charlie and Wiggles, Colin came bottom with a score of 64%.Almost half (44%) of the 75-strong panel of cake-testers assembled by the consumer champion Which? complained Colin’s sponge was “too dry”. By contrast, the Waitrose progeny Cecil triumphed with 78% and was awarded a coveted “best buy” gong

Polymarket and other prediction platforms driving oil market, traders say

Online betting platforms are directly driving the global oil market as they increasingly rely on anonymous prediction markets to determine multimillion-dollar trades, energy traders have warned.Market experts have said that datafeeds from prediction platforms such as Polymarket are being used to create the algorithms that influence trading in the global Brent crude futures market.The “widespread” use of Polymarket in oil futures trading has emerged amid concerns that anonymous account holders may be using insider knowledge to place bets.Energy traders have raised concerns that the platform could also be used to influence pricing in the global oil market.One energy trader said Polymarket had become the best predictor of the oil market’s direction since the US-Israel war with Iran triggered a global oil crisis, making it an essential part of the algorithms used to determine trades

UK food inflation ‘could hit 9%’, trade body warns as Reeves meets retail chiefs

Food inflation could hit 9% in the UK this year even if the strait of Hormuz opens within the next few weeks, figures suggest, as the Iran war pushes up energy prices.The Food and Drink Federation (FDF), which represents 12,000 food and drink manufacturers, has predicted prices will rise by “at least” 9% by the end of 2026, almost tripling a forecast of 3.2% that was made before the Middle East conflict.The chancellor, Rachel Reeves, met supermarket bosses on Wednesday to discuss how to ease any impact of cost inflation on prices at the till, while global markets rallied on remarks from Donald Trump suggesting the war could end in “two to three weeks”.The FTSE 100 shut 1

Starmer’s ‘five-point plan’ was not a plan | Nils Pratley

‘We have a five-point plan for the immediate crisis,” declared the prime minister during his remarks from Downing Street on Wednesday. Really? Two of his five points were measures on energy bills that pre-date the Iran war. One was a description of support for a sub-set of consumers but dodged the key question of who else could get help.Another stated the government’s longstanding energy strategy in unchanged terms. The last was a diplomatic policy, presumably shoehorned into the cost-of-living passage because a five-point plan sounds better than a four-point one

UK is most vulnerable European country to jet fuel shortages, Ryanair boss says

The UK is the most vulnerable country in Europe to potential jet fuel shortages as the Iran war throttles supplies from the Gulf, the boss of Ryanair has said.Michael O’Leary, the chief executive of the budget airline, said Britain would be the most exposed to jet fuel shortages because it relies on Kuwait for about 25% of its supply.“Of all the European countries at the moment, the one that is most vulnerable is the UK because of the market share that the Kuwaitis have here,” he said. “There could be a surplus of jet A-1 fuel in the Middle East, but you have still got to ship it to Europe and we don’t know when or how that happens.”Airlines around the world have been forced to cancel some flights after the war in Iran triggered a surge in jet fuel prices

Oil tumbles and UK’s FTSE 100 posts biggest daily rise in a year on hopes Middle East war will end soon – as it happened

As the clocks ring noon in the City of London, here’s the situation.European and Asia-Pacific stock markets have rallied sharply, after Donald Trump signalled that the Iran was could end soon.The UK’s FTSE 100 share index is up 1.9% now at 10,369 points, up 192 points to a two-week high.The pan-European Stoxx 600 index is up 2%, with gains in Frankfurt, Paris, Madrid and Milan

Australia’s land value has gone through the roof. Where does that leave young people who want to buy a home? | Greg Jericho

Land, it is fair to say, is important.In Australia this is very much the case – and even more so in the past 25 years.Last week the Bureau of Statistics released the December 2025 national accounts figures for finance and wealth. These get less attention than the other national accounts, which have the GDP figures, but given they contain the breakdown of household wealth they are vital to understanding why younger Australians especially feel the economy is not working for them.In 2025, total Australian household wealth increased by $1,751bn – 49% of that, or $859

Would more North Sea drilling mean lower energy prices for UK consumers?

Oil prices hit $100 a barrel soon after the US and Israel launched their attack on Iran, and though prices have wobbled since, ongoing supply issues from the partial closure of the strait of Hormuz mean they could leap higher, to $150 a barrel or more, by some estimates.The impacts could be severe – not just increases in the price of petrol, and oil for home heating, but also in the cost of gas, with knock-on inflationary pressures on food, consumer goods and industrial components.Kemi Badenoch, leader of the Conservative party, this week laid out a plan to “get Britain drilling”, which would involve opening new oil and gasfields in the North Sea, to maximise production, alongside measures to cut energy bills. Here we look at this plan and whether it would work.No

How to turn a leftover roast lamb bone into Wales’ national dish – recipe | Waste not

Cawl is Wales’ gift to the world of thrifty, slow-cooked broths and, like all great peasant dishes, it’s seasonal, versatile and immensely practical. A few years ago, Food & Drink Wales invited me to create two food sustainability toolkits, one for hospitality and one for the public, with both celebrating Welsh produce and recipes. This led me to explore Wales’ national dishes and discover cawl (or lobscows, the northern Welsh name for the dish) properly for the first time. Inspired by Welsh culinary legends Dudley Newbery and Tomos Parry’s recipes, it’s the perfect way to turn lamb leftovers, or even just a bone, into a hearty meal.The magic of cawl lies in its sheer simplicity

Australian supermarket Easter eggs taste test: ‘The quality of Easter chocolate is simply worse’

Nicholas Jordan goes on the hunt for good Easter eggs. After nibbling through 29 products, he is glad the ovum ordeal is overGet our weekend culture and lifestyle emailIf you value our independent journalism, we hope you’ll consider supporting us todayWhen I was a kid, chocolate usually came with some kind of regulatory statement: “you can have some if you finish your dinner”, or “don’t eat it all at once”. But at Easter, that went out the window. The amount of chocolate I ate then is barely believable.Now that adult me is making the decisions, I can eat chocolate whenever I want, with the fervour of an unaccompanied labrador in a pet food shop

What a slip-up! The shop in Orkney that accidentally ordered 38,000 bananas

Name: Banana bonanza.Age: A few days old – and getting riper by the minute.Appearance: Try to imagine a lot of bananas.Easy. How many bananas is a lot of bananas? About 38,000 bananas

Ways to use mint sauce without having to roast a lamb

My wife adores roast lamb with mint sauce. However, after an online purchasing blunder, my larder now contains six jars. How can I make use of them apart from serving roast lamb every Sunday from now until the crack of doom?John, by emailAs is so often the case, it all starts with a shift in mindset. “When you see a jar of sauce, there’s a real tendency to think, ‘I must use this as a sauce,’” says Kate Young, author of Dinner at Mine? Start treating that surplus mint sauce as an ingredient instead, however, and your life will be a whole lot easier. “If John is planning on using chopped fresh mint with, say, meat, cheese or veg, then consider how you might use mint sauce in its place,” Young adds

Sami Tamimi’s recipes for slow-cooked lamb with spicy pickled lemon and jewelled Easter rice

Whenever I’m asked about my favourite dish to serve to friends and family, in most cases I’d say slow-cooked lamb at the centre of the table. After a long, slow cook, the meat becomes tender and rich, and the spices melt into every bite. Served with flatbreads, tahini, fresh herbs and sharp pickles, it invites everyone to build their own perfect mouthful. Across the Middle East and Mediterranean, lamb symbolises generosity and celebration, especially at Easter, when roasting it remains an adored tradition.The lamb is marinated with garlic, olive oil and aromatic spices the night before, to give the flavours time to deepen, then, after luxuriating in the oven, it emerges golden, fragrant and meltingly tender

I can’t believe it’s got butter: this double-dairy ice-cream has gone viral – but how does it taste?

What’s yellow, a new superfood (according to the internet) and essential for hot cross bun consumption? Butter. The once-vilified member of the food pyramid is now the snack of choice for many and liberally slathered on to everything. Not even the humble soft serve has been able to escape its greasy grasp.The butter-dipped soft serve, popularised on Instagram, is characteristic of food made for social media: the questionable flavour pairing enhances its desirability. Soft serves with pale yellow shells are already being sold by Cherry’s Goods and Air Lab in Sydney and Timboon Fine Ice Cream in regional Victoria

Rukmini Iyer’s quick and easy recipe for artichoke, olive and feta pithivier | Quick and easy

Pithiviers look absolutely beautiful at the table. For the classic shape, you can buy circular all-butter puff pastry (Picard does an excellent one, with two sheets in one packet) or cut regular puff pastry into circles. That said, it’s just as delicious and there’s more bang for your buck with a big rectangle. Either way, it’s filled with moreish artichokes, olives and feta, with fresh lemon and parsley to lift the flavours. It’s 100% the type of meat-free main that everyone else wants to try, too

Carrot crumble and sprouting broccoli with almond butter: Chantelle Nicholson’s vegetable recipes for Easter

The intense sweetness that comes from roasting carrots should not be underestimated. And, when that’s topped with a savoury, nutty crumble, it’s a great combination. Add the wonderfully seasonal purple sprouting broccoli on the side, and it’s a luscious Easter celebration. A few low-waste tips, too: always use the parsley stalks, and try pickling the shallots in leftover gherkin brine. Trust me! And it wouldn’t be a spring recipe without our beloved wild garlic, so make the most of that while it’s about

How we can improve food security in Britain | Letters

Although I agree with George Monbiot’s analysis of the serious risks that we face from a breakdown in the UK food supply chain, there are two important points we need to recognise (We’re letting big corporations gamble with our lives. Act now, or the food could run out, 25 March). First, we must seek to increase food production on UK farms because this has been falling for several decades.Food self-sufficiency in the UK fell from 78% in 1984 to 62% in 2024. The decline is largely due to the loss of farmland to non-farming use: buildings, roads and railways, conservation and wildlife schemes, solar farms and recreation

How to make Easter chocolate nests – recipe. | Felicity Cloake's Masterclass

Much as I love Easter eggs – and I really do, despite being that irritating person still nibbling away at them at Christmas time – these charming, crunchy little nests full of colourful treasure are up there with hot cross buns as my favourite seasonal produce. Top tip: they’re even easier to make if you enlist a small sous chef or two to help stir the pan!Prep 20 min Cook 5 minChill 2 hr Makes About 1280g Shredded Wheat (about 3½ full-sized ones), or other cereal (see step 1)75g dark chocolate (see step 3)100g milk chocolate 35g butter, or vegan alternative50g golden syrup 1 pinch salt ¼ tsp mixed spice (optional)Finely grated zest of ¼ orange (optional)36 miniature chocolate eggs (about 115g)Shredded Wheat (or another brand of similar cereal) is not the only choice here: you could substitute corn or bran flakes, puffed rice, Weetabix and so on, but it does look the most authentically twig-like. Try to get the big ones, if possible, because it’s all too easy to crush the bite-size variety to dust.Break the Shredded Wheat into pieces (leave flaked cereals, puffed rice and so on whole, and crumble Weetabix) in a large bowl – use your hands, the end of a flat rolling pin or glass, or the bottom of a smaller bowl to do this, and aim for a variety of lengths, rather than crushing the cereal to smithereens.Almost any chocolate will work here (this is, in fact, a great use of last year’s Easter eggs or Christmas chocolate, if you still have some left), though be careful with white chocolate, which doesn’t always melt well

The Wellington, Margate, Kent: ‘Worth risking a werewolf attack to get to’ – restaurant review | Grace Dent on restaurants

The ever-changing menu is a paean to things that make me happyThe Wellington has been drawing crowds to Margate of late, due to a recent takeover by chef Billy Stock and front-of-house queen Ellie Topham. Stock is formerly of nearby Sète, which I loved very much, and also cooked at London’s The Marksman and St John, which is a pedigree that says: “I like feeding people proper food, not fancy, itsy-bitsy suggestions of food.” So with that, I set off to the south-east Riviera on a day when the weather ranged from hailstones to simply freezing gales.Much is said about Margate being freshly desirable, hip and charming, but on a freezing day at the tail end of winter, this seaside town certainly tests the prescription of one’s rose-tinted spectacles. None of the down-from-London brigade cries, “Let’s move to Margate!” as icy hail plink-plonks off their nose while they cower in the door of the Turner Contemporary

Five Guys CEO says he gave a $1.5m bonus to his workers so he wouldn’t get shot in the back

Five Guys’ chief executive officer, Jerry Murrell, said he gave a $1.5m bonus to employees of his US-based burger restaurant chain because “I didn’t want anybody shooting me” after the company recently “screwed … up” a buy-one-get-one-free promotion.Murrell did not elaborate on the comment, which he gave to Fortune in an interview published on Wednesday – but it came a little more than a year after the UnitedHealthcare CEO Brian Thompson was shot dead on a midtown Manhattan street in what was widely considered a murderous rebuke of the US health insurance industry’s profit-driven practices.Fortune’s conversation with Murrell revisited a two-for-one promotion that Five Guys organized in February to celebrate its 40th anniversary that proved to be much more popular than the chain expected. Five Guys’ app crashed as customers sought to take advantage of the promotion, and many overwhelmed chain locations discontinued the offer early, inviting backlash on social media