Even more energy suppliers are short of capital. Ofgem needs to toughen up

When half the nation’s retail energy suppliers, including Bulb with 1.7 million customers, failed during the gas crisis of 2021-22, the embarrassed regulator, Ofgem, decided it should probably pay more attention to companies’ balance sheets. Better late than never.The cost of mopping up the corporate calamities added up to £2.7bn, or £94 on every household’s energy bill, calculated the National Audit Office

Federal Reserve holds interest rates as Trump piles on pressure

The US Federal Reserve left interest rates unchanged after its first rate-setting meeting of the year on Wednesday, resisting enormous pressure from the White House to lower rates.A majority of members in the Fed’s federal open market committee (FOMC) voted to pause interest rate cuts after slashing rates three times in the fall. Rates currently sit at a range of 3.5% to 3.75%

Artificial intelligence will cost jobs, admits Liz Kendall

Increasing deployment of artificial intelligence will cause job losses, the UK technology secretary has warned, saying: “I want to level with the public. Some jobs will go.”In a speech on government plans to handle the impact of AI on the British economy, Liz Kendall declined to say how many redundancies the technology might cause but said: “We know people are worried about graduate entry jobs in places like law and finance.”She said: “Others will be created in their place”.While some forecasts have suggested the fast-developing technology could create a net increase in employment, Kendall said: “I’m not complacent about that

US TikTok users: tell us how you feel about the app after the new US deal

TikTok users in the US appear to be deleting the app at higher rates after the announcement of a new deal securing its future in the country, according to reports. The short-form video app, which is owned by the Chinese company ByteDance, has faced years of uncertainty in the US amid concerns over data security and a possible ban.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more

ICE agents expected to be deployed for Super Bowl in California, officials say

US Customs and Immigration Enforcement (ICE) agents are expected to conduct immigration enforcement operations during next month’s Super Bowl game in Santa Clara, California.Local officials confirmed to media that ICE is expected to deploy for the game between the Seattle Seahawks and the New England Patriots. ICE’s Homeland Security Investigations team has long worked the Super Bowl and other major sporting events, largely focused on preventing human trafficking and stopping the sale of counterfeit goods, but immigration operations would be unusual.“We have heard from the administration that they intend to have ICE at the Super Bowl. I don’t know how much of that is rhetoric,” Matt Mahan, the San Jose mayor, told KTVU

Patrick Reed quits rebel LIV Golf tour in latest blow to Saudi-backed breakaway

Patrick Reed has delivered the ­latest high-profile blow to LIV Golf by announcing he will leave the circuit before the start of its 2026 season.The 35-year-old American former Masters champion joins Brooks Koepka by instead focusing on the PGA Tour. Reed will spend his immediate time on the DP World Tour, where he won the Dubai Desert Classic on Sunday. Reed tees up in Bahrain from Thursday.It would now be only natural for LIV to be anxious about talent drain which once ran in their favour