Meet Bus Aunty, the nurse turning London’s doubledeckers into a TikTok sensation
UK court freezes £150m of assets of collapsed Prax Lindsey oil refinery owner
A court has frozen £150m of assets belonging to the owner of the collapsed Prax Lindsey oil refinery, an oil tycoon whose whereabouts have been a mystery since the plant’s sudden financial implosion earlier this year.Administrators sifting through the wreckage of five companies in the Prax empire are suing Winston Soosaipillai, better known by his middle names Sanjeev Kumar, for breach of his duties as a director after the energy group’s failure.On Wednesday freshly published court filings revealed that a judge at the high court in July granted the companies’ request for a “freezing injunction” against Soosaipillai.The order prevents him from removing from England and Wales, or selling, assets up to the value of £150m. If he fails to comply, he can be imprisoned or fined or his assets can be seized
Energy users ‘could save £5bn a year’ if gas plants are removed from market
The government could save energy users £5bn a year by overhauling the electricity market to stop gas-fired power stations from setting the wholesale price for electricity, according to the former energy tsar.Britain relies on gas plants for about a quarter of its annual electricity use, but they play a much greater role during spells of low wind and low solar generation.Removal of gas plants from the market could lead to a drop in household electricity bills by up to £1.7bn a year by 2028, according to a research report. Energy costs for businesses and industrial users could fall by £3
Rescue plan at Thames Water is still too murky | Nils Pratley
The wannabe new owners of Thames Water say they are “fully committed to a new transparent and collaborative relationship with regulators”. Jolly good. Unfortunately, this embrace of transparency does not appear to extend to the poor old customers.At this late stage in the dance to decide Thames’s future, you’d expect London & Valley Water – the banner under which the consortium of creditors now sail – to opt for straight-talking and openness. Their pitch to rescue Thames, after all, rests on the analysis that they are the folk to inject the necessary pragmatism into a company that has lived a hand-to-mouth existence for years while promoting fantasy turnaround plans
Lush closes all its UK stores in protest over starvation in Gaza
The cosmetics retailer Lush has closed its UK shops, factories and website in protest over starvation in Gaza.A statement appeared on its website and on posters on shop windows on Wednesday, which read: “Stop starving Gaza, we are closed in solidarity”, while its flagship spa on London’s Oxford Street was marked as “temporarily closed” on Google Maps.In an interview with LBC radio, the co-founder Mark Constantine said the company’s estimated losses as a result of the closure would be about £300,000. While offering his support for the decision, he added: “It would be nice to be able to pay for food to go into Gaza, rather than just sacrificing [profits].”The statement released on the Lush website asks for customers’ forgiveness for any inconvenience, but says that “many of our customers share the same anxiety about the situation in Gaza”
Bank chief warns against ‘exaggerating’ rise in UK borrowing costs
The governor of the Bank of England has cautioned against “exaggerating” the impact of a steep rise in the UK’s long-term borrowing costs, which he said was part of a global trend.Andrew Bailey told MPs the Treasury had continued to borrow at the same interest rate for most of the year despite a rise in the rate on 30-year bonds to a 27-year high.Bailey’s intervention will bring some relief to Rachel Reeves, who is under pressure from rising debt financing costs ahead of a budget which on Wednesday she set for 26 November.The governor said the government’s switch to borrowing over five or 10 years rather than 30 years meant its borrowing costs had remained flat this year, and commentators should not “over-focus” on the figure.“There is a lot of dramatic commentary on this but I wouldn’t exaggerate the 30-year bond rate,” he said
Hackers linked to M&S breach claim responsibility for Jaguar Land Rover cyber-attack
A group of English-speaking hackers linked to the Marks & Spencer cyber-attack has claimed responsibility for an attack on Jaguar Land Rover.A channel on the Telegram platform posted a screenshot of what appeared to be the carmaker’s internal IT systems, as well as a news article detailing the hack.The name of the Telegram channel is a combination of three English language speaking, or western-based, hacking groups known as Scattered Spider, Lapsus$ and ShinyHunters.Scattered Spider, a collective of teenage and twentysomething hackers, has been blamed for attacks this year on British retailers M&S, Co-op and Harrods. Four people including three teenagers were arrested at UK addresses in July as part of an investigation into the retail cyber-attacks
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Meet Bus Aunty, the nurse turning London’s doubledeckers into a TikTok sensation
Clanker! This slur against robots is all over the internet – but is it offensive?
The good and bad of machine learning | Letters