Jim Irsay, longtime owner of NFL’s Indianapolis Colts, dies aged 65
UK government borrowing jumps to £20.2bn in April; markets fall after weak US debt auction – business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the eurozone.It’s a new financial year, but the same old story for the UK government, as borrowing rises faster than expected.The latest public finance figures, just released, show that the UK borrowed £20.2bn in April. That’s £1bn more than in April 2024 and the fourth-highest April borrowing since monthly records began in 1993
Will cyber-attack threaten M&S’s hard-won return to fashion relevance?
In September 2019, as Marks & Spencer fell out of the FTSE 100 for the first time, its then chief executive, Steve Rowe, described the retailer as having a “reputation for frumpiness”. Just six years later, thanks to clever campaigns, unexpected collaborations and a focus on catwalk-influenced pieces, the retailer has transformed itself into the go-to fashion destination for high street shoppers.Annual results, released on Wednesday, showed a 22% rise in pre-tax profits in the year to 30 March. Overall sales were up 6% to £13.9bn with fashion and homeware increasing 3
OpenAI buys iPhone architect’s startup for $6.4bn
OpenAI is buying an untested startup for $6.4bn, the ChatGPT maker’s biggest acquisition yet. The hardware startup, called io, was founded by Apple design guru Jony Ive, known best as one of the principal architects of the iPhone. Ive and OpenAI’s CEO, Sam Altman, said in a blog post that their partnership has been two years in the making.“A collaboration built upon friendship, curiosity and shared values quickly grew in ambition,” they wrote in the blog post, which offered scant details on upcoming devices
Scattered Spider is focus of NCA inquiry into cyber-attacks against UK retailers
A hacker community known as Scattered Spider is a key suspect in a criminal inquiry into cyber-attacks against UK retailers including Marks & Spencer, detectives have said.Scattered Spider, a loose collective of native English-speaking cybercriminals, has been strongly linked with hacks against M&S, the Co-op and Harrods. M&S said on Wednesday it will take an estimated £300m hit to profits after its systems were hacked last month.The UK’s National Crime Agency, whose remit includes combating cybercrime, said the group was a focus in its investigations.“We are looking at the group that is publicly known as Scattered Spider, but we’ve got a range of different hypotheses and we’ll follow the evidence to get to the offenders,” Paul Foster, the head of the NCA’s national cybercrime unit, told the BBC
Northampton’s Champions Cup final date with Bordeaux should be all-out attack | Ugo Monye
How do Northampton Saints go again? After pulling off a stunning upset to avenge last season’s semi-final defeat by Leinster and take their place in Saturday’s final, the question is how do Phil Dowson’s side overcome one of the French giants, Bordeaux, to clinch the Champions Cup?Had the final been a week later I’d have feared for Northampton but they are helped by the ability to distract themselves with Premiership action, and I think the manner of victory over Leinster plays into their hands. Northampton need to focus on being unashamedly themselves. In Dublin the gameplan was to put the car into fifth gear from the first whistle and that’s precisely what they did. When your approach is so authentic and in keeping with your culture, it makes it that much easier.I also think we have two teams contesting the final after the heartache of last year – maybe even because of it
Haliburton and Pacers stun Knicks with epic comeback in Game 1 of East finals
The ghosts of Reggie Miller were alive and well at Madison Square Garden on Wednesday night – and Tyrese Haliburton once again played the role of Garden villain to perfection.Haliburton helped Indiana complete an unprecedented 14-point comeback in the final reel, tying the game with a wild jumper at the buzzer in regulation, to beat the New York Knicks 138-135 in overtime in Game 1 of the Eastern Conference finals. The Pacers now hold a 1-0 lead in the best-of-seven-games series for a trip to the NBA finals after pulling off one of the most improbable finishes in playoff history.WHAT A SHOT BY TYRESE HALIBURTON 🤯🤯🤯 https://t.co/8wEwdkeRwZ pic
UK borrowing rises to £20.2bn, putting pressure on Rachel Reeves
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Jim Irsay, longtime owner of NFL’s Indianapolis Colts, dies aged 65