Industry can’t wait any longer for a fix to its energy crisis. Ministers should get a move on | Nils Pratley

In the long list of budget submissions from the business world, here’s one the chancellor is probably disinclined to smile upon.Make UK, the body representing manufacturers, would like the government to expand its energy support scheme – the one unveiled in June as part of the shiny new industrial strategy – from 7,000 firms to 115,000 businesses. And it would like the promised savings in electricity bills to be backdated to April this year; as scheduled, the so-called British industrial competitiveness scheme, or BICS, is due to arrive only in April 2027.One doubts Rachel Reeves will go there for three reasons. First, these things never get backdated

‘No contract, no coffee’: what to know about the Starbucks workers’ strike in 65 US cities

Unionized Starbucks workers are threatening to expand a US strike against the world’s biggest coffee chain into “the largest and longest” in the company’s history – and urging customers to steer clear.Starbucks has said the vast majority of its cafes remain open, and expressed disappointment that Starbucks Workers United launched the strike.Negotiations over the first ever union contract for Starbucks workers in the US broke down in recent months. Both sides have blamed the other.Prominent politicians including Zohran Mamdani, the New York City mayor-elect, have backed the striking workers

‘We excel at every phase of AI’: Nvidia CEO quells Wall Street fears of AI bubble amid market selloff

Global share markets rose after Nvidia posted third-quarter earnings that beat Wall Street estimates, assuaging for now concerns about whether the high-flying valuations of AI firms had peaked.On Wednesday, all eyes were on Nvidia, the bellwether for the AI industry and the most valuable publicly traded company in the world, with analysts and investors hoping the chipmaker’s third-quarter earnings would dampen fears that a bubble was forming in the sector.Jensen Huang, founder and CEO of Nvidia, opened the earnings call with an attempt to dispel those concerns, saying that there was a major transformation happening in AI, and Nvidia was foundational to that transformation.“There’s been a lot of talk about an AI bubble,” said Huang. “From our vantage point, we see something very different

Nvidia earnings: Wall Street sighs with relief after AI wave doesn’t crash

Markets expectations around Wednesday’s quarterly earnings report by the most valuable publicly traded company in the world had risen to a fever pitch. Anxiety over billions in investment in artificial intelligence pervaded, in part because the US has been starved of reliable economic data by the recent government shutdown.Investors hoped that both questions would be in part answered by Nvidia’s earnings and by a jobs report due on Thursday morning.“This is a ‘So goes Nvidia, so goes the market’ kind of report,” Scott Martin, chief investment officer at Kingsview Wealth Management, told Bloomberg in a concise summary of market sentiment.The prospect of a market mood swing had built in advance of the earnings call, with options markets anticipating Nvidia’s shares could move 6%, or $280bn in value, up or down

Cadillac copy Nasa playbook to build F1 team from scratch to hit Melbourne startline

Twelve months ago at the Las Vegas Grand Prix, Cadillac were finally given the green light as Formula One’s newest entry for 2026. Building the team from scratch has entailed a frenetic work rate that the team principal, Graeme Lowdon, has compared to the Apollo moon landing. As F1 descends on Vegas this weekend, Cadillac know time is getting tight.At the final race of the season to be staged in the United Statess, with just over 100 days to go before they take to the track for the first time in Melbourne at the 2026 opener, Cadillac have come on in leaps and bounds but, in what must seem like a sisyphean task, they are aware there will never be enough hours in the day.The chief technical officer, Nick Chester, joined the nascent operation in March 2023 shortly after it was formed, when the team were without even an approved entry

Chiefs heir Gracie Hunt backs rival Super Bowl half-time show over Bad Bunny

Gracie Hunt, the daughter of Kansas City Chiefs owner Clark Hunt, is throwing her support behind Turning Point USA’s plan to stage an alternative Super Bowl half-time show, a direct counter to the NFL’s decision to feature Bad Bunny at Super Bowl LX.Hunt said in an appearance on Fox News Channel’s The Will Cain Show on Tuesday that she “most definitely” backs Turning Point’s counter-programming effort, spearheaded by Erika Kirk, the widow of Charlie Kirk. The NFL’s choice of Bad Bunny for the half-time show has attracted strong pushback from many on the right, who object to his criticism of Donald Trump and US immigration enforcement.“I really respect Erika for all that she’s done, especially with creating a half-time show for America,” she said. “You know, children are young, they’re impressionable