Spencer sparkles for Bath to overwhelm Lyon and win European Challenge Cup
Royal Mail faces Ofcom questions over missed delivery targets
The postal regulator has launched an investigation into Royal Mail for missing its annual delivery targets, with almost a quarter of first-class mail arriving late.The company, which has been fined more than £16m in the last two years for failing to meet the delivery targets set by Ofcom, said 23.5% of first-class mail failed to arrive on time in the year to the end of March.This is a slight improvement on the previous year, when more than a quarter of first-class mail failed to arrive within the one-working-day target set by the regulator.Under the watchdog’s rules, 93% of first-class mail must be delivered within one working day of collection, excluding Christmas
Reform UK promises to reverse ban on new North Sea oil drilling if elected
Reform UK has promised to reverse the government’s ban on fresh North Sea oil and gas drilling as a “day one” priority if elected to power, with the taxpayer taking a stake in the projects.Richard Tice, the party’s deputy leader, has met with senior UK oil executives in recent weeks to pledge the party’s support for the industry, which has been hit hard by the government’s windfall tax and moves to block fresh North Sea exploration licences.Tice told the energy bosses to expect a reversal of the government’s ban alongside billions of pounds of public investment in their projects if the party comes to power in the 2029 election.The public investments would effectively hand taxpayers an equity stake in North Sea fossil fuel developments, which have stalled in recent months after Labour swept to power with a manifesto that promised to end fresh exploration licences for new oil and gas fields.“As long as there’s oil in the North Sea, we should be drilling for it,” a spokesperson for Reform UK said
Thames Water boss ordered to tell MPs if executives received bonus payments
The chief executive of Thames Water has been ordered to tell MPs whether any executives have received payments from a controversial bonus package taken from a £3bn loan.Britain’s biggest water company admitted last week that senior managers were in line for “substantial” bonuses linked to an emergency £3bn loan. Thames claimed the payouts were vital to retain staff and prevent rival companies from “picking off” its best employees. The disclosure provoked fury as the company has said its finances are “hair-raising” and that it came “very close to running out of money entirely” last year.On Tuesday, the environment secretary, Steve Reed, announced the bonuses had been withdrawn by the water company after the Guardian revealed the chair of Thames Water had wrongly claimed they were insisted upon by creditors
M&S contractor ‘investigating whether it was gateway for cyber-attack’
An Indian company that operates Marks & Spencer’s IT helpdesk is reportedly investigating whether it was used by cybercriminals to gain access to systems at the retailer, which is battling a devastating hack.M&S said this week that “threat actors” had gained access to the retailer’s systems through one of its contractors – understood to be Tata Consultancy Services (TCS).The clothing, food and homeware retailer confirmed the hackers used “social engineering” techniques to attack them, such as posing as a staff member to fool a helpdesk into giving away passwords.TCS, which has worked with M&S for more than a decade, has been helping the retailer with its inquiries into the cyber-attack, which began over the Easter weekend. The retailer said the attack could cost it up to £300m in profit
Sunny spring drives biggest jump in retail sales in Great Britain in four years
Sunny spring weather sent shoppers flocking to supermarkets and specialists such as butchers, bakers and alcohol outlets last month, fuelling the strongest quarterly jump in retail sales in Great Britain in almost four years.Retail sales volumes rose by 1.2% in April, well above City forecasts of an increase of between 0.2% and 0.4%, marking the fourth straight month of sales growth
UK private sector shrinking as firms cut jobs; pressure to raise taxes as government borrowing jumps – as it happened
Britain’s private sector is shrinking for the second month running as factory output falls at the fastest rate in a year and a half, a new survey shows.The latest poll of purchasing managers at UK companies found that private sector output is decreasing in May, although at a slower rate than in April.Manufacturing production fell at the fastest rate since October 2023, although this was moderated by a “fractional rise” in service sector output.UK firms reported that clients were cautious this month, due to business uncertainty, leading to a drop in new orders. However, worries about US tariffs have dropped this month, after Donald Trump delayed tariffs on America’s trading partners and agreed a trade deal with the UK
OnlyFans owner in talks to sell UK-based adult content platform for £5.9bn
Fear, hope and loathing in Elon Musk’s new city: ‘It’s the wild, wild west and the future’
iPhone design guru and OpenAI chief promise an AI device revolution
OpenAI buys iPhone architect’s startup for $6.4bn
Scattered Spider is focus of NCA inquiry into cyber-attacks against UK retailers
Most AI chatbots easily tricked into giving dangerous responses, study finds