NEWS NOT FOUND

businessSee all
A picture

Cultivated food: from lab grown burgers to medicinal berries

Dogs and cats in the UK are expected to become the first in Europe to be given cultivated meat, a product grown from chicken cells in the laboratory. The pet food promises to alleviate some of the ethical and environmental dilemmas faced by animal lovers. An array of lab-grown dishes, from “cell coffee” to lab-grown oyster meat, could be coming to human plates in the near future.Since the world’s first lab-grown burger, with a price tag of £215,000, was unveiled a decade ago there has been a rush of venture capital investment into cultivated meat startups and McKinsey has predicted a global valuation for the industry of $25bn (£19.3bn) by 2030

July202024
A picture

UK billionaire’s Israeli TV channel accused of axing show for Netanyahu

Len Blavatnik, the second-richest man in Britain, is facing a series of protests in the UK after his Israeli television channel was accused of cancelling programmes to please Benjamin Netanyahu.Aviel Lewis, a London-based Israeli who is part of the anti-Netanyahu WeDemocracy group, said Blavatnik was known in the UK “as a patron of progressive culture and arts” and the British public was not aware that he was also involved in “something that is clearly taking Israeli media years back and corrupting it”.Lewis is part of a group of Israeli citizens opposed to the Netanyahu government who are planning to hold protests on Sunday at the Tate Modern’s Blavatnik wing and the University of Oxford’s Blavatnik School of government.Other cultural institutions featuring the Blavatnik name could later be targeted, with the protesters arguing that the billionaire’s media company is undermining freedom of the press in Israel.Lewis said the oligarch should realise the potential risk to his reputation in the UK: “We want to make Mr Blavatnik feel uncomfortable

July202024
A picture

Yorkshire Water bosses get hefty bonuses after company failed customers

Two bosses of Yorkshire Water have been handed a combined £616,000 in bonuses for a year in which thousands of its customers “struggled to go about their daily lives” for weeks due to a burst water pipe.The payouts, part of a bonus system that could be banned in future under proposals outlined by the Labour government in this week’s king’s speech, were detailed in the company’s annual report.The awards cover a period that also includes nine months of 2023, a year in which Yorkshire Water was named the second-worst water company in England for sewage spills.The company’s chief executive, Nicola Shaw, was paid salary and benefits worth £657,000 for the year to the end of March 2024, topped up by a £371,000 bonus. Shaw, who was appointed in 2022, forfeited her bonus the previous financial year amid public outrage over sewage spills

July192024
A picture

Harland & Wolff rescue talks intensify as government rules out loan guarantee

The government has confirmed that it will not provide a £200m loan guarantee to Harland & Wolff, the owner of the stricken Belfast shipyard that built the Titanic, sparking intensified rescue talks between the company and its Wall Street lender.The shipbuilder had hoped to secure a guarantee of up to 80% to help it avoid collapsing into administration for the second time in five years.However, it said on Friday that the Department for Business and Trade had confirmed it would not provide an export development guarantee, triggering “expedited” discussions with US-based creditor Riverstone Credit Management.Rothschild & Co has been engaged to explore “strategic options” for the company, which one source said could also involve it being broken up and sold.In the meantime, H&W hopes to secure short-term funding from Riverstone, believed to be worth about £20m, in the next few days

July192024
A picture

‘Ugly’ phone boxes that blight UK streets should be removed, says thinktank

The new Labour government should remove “ugly” modern phone kiosks that are blighting high streets and attracting litter and graffiti, a leading thinktank has said.A report by Create Streets, founded by the government adviser Nicholas Boys Smith, says there is little need for phone boxes any more and that they do not feature much on the streets of Paris or New York.Unlike the classic red phone box, these kiosks are created and sponsored by phone companies and usually made of clear glass.The report outlines battles between local councils and the big communications corporations, which mean it can cost councils tens of thousands of pounds to get even a single phone box removed. The authors say legislative changes could be needed to give local government enhanced powers to ensure kiosk removal is more straightforward and less costly

July192024
A picture

Labour says higher-than-forecast UK borrowing shows economic challenge ahead

Labour has said it has received the worst economic inheritance since the second world war after official figures showed the government borrowed more than expected in June.Underscoring the challenges facing the chancellor, Rachel Reeves, the Office for National Statistics reported that UK borrowing – the difference between public sector spending and income – was £14.5bn last month.Although borrowing in the first three months of 2024-25 was £1.1bn lower than the same period a year earlier, at £49

July192024