Bank bosses get huge pay rises in sign top City salaries back to pre-crash highs

A trio of bank bosses have been given huge pay packets in the latest sign that the vast salaries and bonuses handed to Wall Street and City of London executives in the run-up to the 2008 financial crisis have started to return.NatWest on Friday revealed a £6.6m pay package for its boss Paul Thwaite, marking the largest payout for a chief executive of the banking group since his disgraced predecessor Fred Goodwin took home £7.7m in 2006.That was 33% higher than his £4

Shares in trucking and logistics firms plunge after AI freight tool launch

Shares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.A new tool launched by Algorhythm Holdings, a former maker of in-car karaoke systems turned AI company with a market capitalisation of just $6m (£4.4m), sparked a sell-off on Thursday that made the logistics industry the latest victim of AI jitters that have already rocked listed companies operating in the software and real estate sectors.The announcement about the performance capability of Algorhythm’s SemiCab platform, which it claimed was helping customers scale freight volumes by 300% to 400% without having to increase headcount, sparked an almost 30% surge in the company’s share price on Thursday.However, the impact of the announcement sent the Russell 3000 Trucking Index – which tracks shares in the US trucking sector – down 6

Tony Blair’s oil lobbying is a misleading rehash of fossil fuel industry spin

Ex-PM’s thinktank urges more drilling and fewer renewables, ignoring evidence that clean energy is cheaper and better for billsA thinktank with close ties to Saudi Arabia and substantial funding from a Donald Trump ally needs to present a particularly robust analysis to earn the right to be listened to on the climate crisis. On that measure, Tony Blair’s latest report fails on almost every point.The Tony Blair Institute for Global Change (TBI) received money from the Saudi government, has advised the United Arab Emirates petrostate, and counts as a main donor Larry Ellison, the founder of Oracle, friend of Trump and advocate of AI.The latest TBI report calls for an expansion of oil and gas production in the North Sea, despite the additional greenhouse gas emissions this would generate, and abandoning the UK government’s target to largely decarbonise the electricity sector by 2030, arguing that doing so is necessary to power AI datacentres.The report claims renewable energy is too expensive

UK economy grows by only 0.1% amid falling business investment

The UK economy expanded by only 0.1% in the final three months of last year, according to official data, as falling business investment and weak consumer spending led to little momentum going into 2026.Figures from the Office for National Statistics (ONS) show that the economy grew at the same rate of 0.1% as the previous three months. This was less than a 0

Jim Ratcliffe apologises for ‘choice of language’ after saying immigrants ‘colonising’ UK

Monaco-based billionaire Jim Ratcliffe faced implicit criticism from the football club he co-owns, after widespread condemnation of his claims that the UK is being “colonised” by immigrants.The Manchester United co-owner was forced to issue a heavily qualified apology on Thursday after citing inaccurate immigration statisticsin comments labelled hypocritical and reminiscent of “far-right narratives”. Following a day of censure from the prime minister, football fans, union leaders and anti-racism campaigners, Ratcliffe said he was sorry his “choice of language has offended some people in the UK and Europe”.Just hours after Ratcliffe’s apology, United took the extraordinary step of publicly asserting their “inclusive and welcoming”. In statement that did not name Ratcliffe but clearly referred to his claims that the UK is being “colonised” by immigrants, United affirmed their commitment to “equality, diversity and inclusion”, adding: “Our diverse group of players, staff and global community of supporters reflect the history and heritage of Manchester; a city that anyone can call home

To revive manufacturing we must first change attitudes towards labour | Letter

Re Larry Elliott’s article (How can Britain regain its manufacturing power?, 5 February), the basis for the revival of our manufacturing industry requires first a shift in attitude that brainwork is superior to manual labour.Changes to the curriculum are needed so that technically oriented students can pursue courses that are a first option rather than second best. Part of my training as a designer-pattern cutter involved a placement in a factory, an experience now rarely available to fashion students. In the 1980s, the government set up the Enterprise Allowance Scheme to encourage innovation, but there was no follow-on support to encourage production; successful entrepreneurs had to apply for personal loans from banks, limited to the value of their houses.I wanted to be part of a trade mission to Germany so I could follow up export inquiries, but I was told my business was too small

Declines in health and education in poor countries ‘harming earning potential’

Deteriorating health, education and training in many developing countries is dramatically depressing the future earnings of children born today, the World Bank has said.In a report, the World Bank urges policymakers to focus on improving outcomes in three settings: homes, neighbourhoods and workplaces.The report, Building Human Capital Where it Matters, finds that in 86 of 129 low- and middle-income countries health, education, or workplace learning declined between 2010 and 2025.Analysing the links with earnings, the World Bank says children born today in low- and middle-income countries could earn 51% more through their lifetime if their country’s human capital matched that of the best-performing nations at similar income levels.Mamta Murthi, its vice-president for people, said: “The prosperity of low- and middle-income countries depends on their ability to build and protect human capital

UK GDP: Chancellor Rachel Reeves predicts ‘stronger growth this year’ after UK economy ends 2025 ‘in the slow lane’ – business live

Reaction to the news that the UK grew by just 0.1% in the final quarter of 2025 (see earlier post) is rolling in, and City experts aren’t impressed.Lindsay James, investment strategist at wealth managers Quilter, warns that the picture is ‘rather bleak at the moment’.“A long list of data revisions from the ONS has revealed the UK economy barely kept its head above water in the final quarter of last year, with GDP growth coming in at just 0.1% after downward revisions to the previous two data prints

Ratcliffe says immigrants cost too much, while Ineos lobbies for state funding

The backlash against Sir Jim Ratcliffe’s comments about immigrants to the UK “costing too much” for the state comes at an awkward time for his loss-making Ineos business.The billionaire industrialist’s sprawling empire, which ranges from chemicals to car making, has sought government financial support worth hundreds of millions of pounds and is lobbying for further state aid from the UK and EU to stay afloat.Britain’s seventh-richest man provoked outrage by accusing immigrants of “colonising” Britain and implying that people on benefits were an unaffordable drain on public funds.But Ratcliffe, who has also described carbon taxes as “the most idiotic tax in the world”, has in recent years laid claim to state support through grants and loan guarantees worth about €800m from UK and EU governments to help his refineries and chemicals plants during an extended downturn for the industry.Ratcliffe told Sky News: “You can’t have an economy with 9 million people on benefits and huge levels of immigrants coming in

Ex-Barclays boss Jes Staley was trustee of Jeffrey Epstein’s estate until 2015, files say

The former Barclays boss Jes Staley was named as a trustee of Jeffrey Epstein’s estate until at least May 2015, according to documents that appear to contradict court testimony given by the banker.This month the Guardian revealed that US prosecutors had reviewed allegations of rape and bodily harm against Staley, who denies any wrongdoing. He has never been charged with a crime related to the allegations.On Thursday, documents emerged that raised questions over whether Staley gave inaccurate evidence in court last year about the nature of his ties to the late convicted sex offender Epstein.Staley’s signature appears on a copy of the Jeffrey E Epstein 2014 Trust, dated November 2014, where he is named as one of three trustees

Schroders agrees £9.9bn takeover by US investor, ending 200 years of family ownership

Schroders has agreed a £9.9bn takeover by a US investor, ending two centuries of family ownership of the historic British asset management group.Chicago-based Nuveen will buy the City firm, it said on Thursday, in a deal that will create one of the world’s biggest fund managers, controlling about $2.5tn (£1.8tn) of assets

UK economy limps along at 0.1% growth – but there are reasons for optimism in 2026

Rachel Reeves has suggested 2026 is the year Labour can start to deliver on its economic promises; but 0.1% GDP growth in the final quarter of last year is hardly the springboard she was hoping for.In the supportive message on X she sent on Monday as Keir Starmer’s future appeared under threat, the chancellor claimed “the conditions for the economy to grow are there”.But the latest data, published by the Office for National Statistics (ONS), suggests that despite six interest rate cuts from the Bank of England since mid-2024, consumers and businesses are not yet taking the hint.Output from the key services sector was flat over the final quarter of the year, the ONS said, with construction – crucial to Labour’s ambitious housebuilding targets – declining by 2

​My love letter to Brittany’s best exports

Every February – or occasionally March – I get together with two friends to gorge on pancakes; I provide the pan, Caro does the cocktails and poor old Harry is invariably the chef because she never fails, even three ciders in. With two half-Frenchies in the room, we always start with buckwheat galettes, usually served complète with gruyère, ham and a fried egg (though the more we eat, the more adventurous the combinations become). Then we move on to softer, thicker British sweet pancakes with lemon juice and crunchy demerara sugar to finish. We rarely manage to meet on Shrove Tuesday itself, but apart from the year I went vegan for Lent, that’s no problem. After all, any cold, dark evening is improved by a pancake party

Rachel Roddy’s recipe for cacio e pepe, the old-fashioned way | A kitchen in Rome

Nightclubs, mechanics, restaurants, a theatre, a wholesale butcher and an Apostolic church occupy some of the network of caves and tunnels that, over the centuries, were burrowed into Monte Testaccio, an ancient rubbish dump hill in the middle of Rome that’s made entirely of broken amphorae. Some places make a feature of their situation, revealing sections of pots not dissimilar to the cross section of snapped wafer biscuits, while others have smoothed the curves with plaster.A few use the caves as originally intended – that is, as natural warehouses offering steady low temperatures and good humidity. In short: the ideal temperature for storing certain foods and wine. Most recently, Vincenzo Mancini, whose project DOL distributes artisanal products from small agricultural realities in Lazio, has taken over a deep cave behind door 93, reclaiming it as an urban ageing space for cheese and cured meat

How to use up leftover pickle brine in a tartare sauce – recipe | Waste not

Depending on country, region, household or restaurant, every cook makes tartare sauce in their own way. Inspired by Auguste Escoffier’s exceptionally simple tartare, I’ve given his recipe a zero-waste twist by using whole boiled eggs and swapping in pickle brine from a jar of gherkins or capers to replace the vinegar. Everything else is optional: tarragon, mustard, cayenne … add what you like or have in store.Traditionally, tartare sauce is delicious with fish and chips, calamari or in a chicken sandwich, but I also like it tossed through potato salad with tinned sardines and radicchio. It’s also great as a dip with crudites and on top of a steaming jacket potato

Cocktails and crepes in bed? Ravinder Bhogal’s recipes for Valentine’s Day breakfast

Give me breakfast in bed over a bunch of limp supermarket roses any day. Nothing says “I love you” more genuinely than a decadent tray of delicious things to savour between the sheets. Because V-Day falls on a weekend this year, you can do better than just buttered toast and an unbidden cup of tea. Whether it’s sweet or savoury (or even a cheeky cocktail), I’ve got you!These French crepes are given the Midas touch with a pinch of saffron. Use your favourite fish – mackerel and salmon also work well here

‘Boy kibble’: why are young men turning to dog food for meal inspiration?

The dried food, traditionally for pets, has become an unlikely influence for meal preppers. Some commenters have even claimed the trend could be an antidote to toxic masculinity Name: Boy kibble.Age: It’s new.Appearance: Like a dog’s dinner.Isn’t that what kibble is? Traditionally, yes, kibble is dried food for pets in pellet form, made of grains, vegetables and meat

Frothing over: the coffee foams and ‘indulgent’ drinks keeping Australian cafes afloat

Cold brews and matcha lattes with airy, dessert-like layers are everywhere. What’s driving the trend for blockbuster toppings?Get our weekend culture and lifestyle emailCoffee brimming with lemon myrtle cream. Matcha banked with strawberry-lychee foam. Cold brew with choc-orange froth thick enough to stuff a pillow. Every caffeinated drink I’ve ordered in Sydney recently has the appearance of a generously frosted cake

What is fibremaxxing – and how much is too much? | Kitchen aide

Why is everyone talking about fibremaxxing?Chris, by emailTikTok-born trends rarely go hand in hand with sage health advice, but that’s not to say upping our fibre – an often-forgotten part of our diets – is a bad idea. “Fibre needed its moment, so this is a good thing,” says dietitian Priya Tew. The non-digestible carbohydrate has two main functions: “There’s insoluble fibre, which is found in things such as whole grains, brown rice or vegetable skins, and I think about it like a broom,” Tew says, “in that it brushes the system out.” Then there’s soluble fibre (oats, beans, lentils), which she likens to a sponge: “It turns into this gel in your gut, and aids digestion and keeps us regular.” But that’s only part of the story, because fibre can also help lower cholesterol and stabilise blood sugar

Moroccan lamb filo pie and rhubarb panna cotta: Thomasina Miers’ Sunday best recipes

There is little as pleasing to cook in the depths of the winter as a pot of enticingly fragrant, slow-braised meat. A shoulder of lamb is one of my favourite cuts; you, or a friendly butcher, will need to trim away its excess fat, a job that will reward you with an exquisite flavour that marries beautifully with bold spicing. Here, we travel to Morocco, with sweetly aromatic ginger, turmeric and cinnamon, and follow that with cardamom, cream and rhubarb for pudding. A sumptuous, colourful feast to stave off any February blues.Many elements of this dish, with its falling apart, richly seasoned lamb and carrots encased in crisp, golden pastry, can be made the day before

Red lentils, and lamb and barley: Ilhan Mohamed Abdi’s soup recipes for Iftar

There is nothing quite like that first bite after a long day of fasting. It’s quiet, intentional and deeply comforting. The stillness just before sunset gives way to movement – the table being laid, the clinking of glasses, the pause as everyone waits for the call to prayer. Then, with a date in hand and water on the tongue, the fast is broken. That moment never loses its meaning, no matter how many times you experience it

RecipeTin Eats founder farewells Dozer the golden retriever: ‘I will love you and miss you forever’

Nagi Maehashi, the celebrated cook behind RecipeTin Eats, has announced the death of her beloved canine companion, Dozer, on Sunday, saying the cover star of her bestselling cookbooks would be missed “forever”.Dozer, a golden retriever, was Maehashi’s supporting star on her hyper-popular cooking blog and featured in many images and stories in her two books: Tonight and Dinner. Dinner was released in 2023, and became the fastest-selling cookbook in Australian publishing history. Maehashi’s blog receives more than 500 million hits each year.On social media, Maehashi said Dozer, who was 13, was hospitalised at the vet in January with a lung infection, which was complicated by his older age and existing medical conditions

How to cook the perfect brigadeiros for Valentine’s Day – recipe | Felicity Cloake's How to cook the perfect …

If you’re not au fait with these soft, chocolatey treats, you clearly haven’t spent much time in Brazil, where, in the words of blogger Olivia Mesquita, they’re national treasures, “a must-have at special celebrations, from kids’ parties to weddings”. As content creator Camila Hurst puts it, “It’s basically not a party without them.” Quick and simple to make from everyday ingredients, they’re also an ideal last-minute gift for someone you love.Older recipes tend to call for hot chocolate powder, but plain cocoa powder makes for a less intensely sweet result. Mesquita’s book, Authentic Brazilian Home Cooking, uses dark chocolate, and TV chef Leticia Moreinos Schwartz suggests combining the two

Cylla, Birmingham: ‘Maybe the best potato side dish being served in the UK today’ – restaurant review | Grace Dent on restaurants

Punchy cocktails and roaringly traditional Greek food in the heart of BirminghamCylla, a classy Greek restaurant on Newhall Street, Birmingham, draws inspiration, it says, from Scylla, the legendary Greek man-eating sea monster that lives close to the whirlpools of Charybdis. She’s a beautiful woman, but has six dog heads, all grumpy and snarling, as well as a serpent’s tail.If Scylla herself were ever to turn up at Cylla, dogs’ heads barking and tail flapping, they’d have to seat her in one of the gorgeous private booths at the front as you enter the room. These are the spots to grab if you want a little privacy, which is why we eschewed the long, prettily lit cocktail bar and headed straight to this cosy hidey-hole for a round of Poseidon’s Wrath. “It’s a bit like a dirty martini,” explained our server, who was one of those warm, bright, commanding, knowledgable souls who, in a hospitality setting, is worth her weight in drachma