Ed Miliband needs a plan now to help industry weather UK transition to net zero | Phillip Inman

Ed Miliband may want his political legacy to be a transition to net zero, but he could find his eventual political epitaph includes words on how he helped bury UK industry under the weight of high electricity charges.Industrial ovens are being switched off and turbines spun for the last time as businesses add up the cost of powering their factories and decide it’s not worth the time and trouble.It would be harsh to blame the energy secretary for a crisis he inherited and a decline in manufacturing that has been going on for four decades. But the way the transition to renewables was managed under the Tories, and now under Miliband can only be described as a disaster that will see much of UK industry depart for an easier life elsewhere.The decline is not new

What is private credit, and should we be worried by the collapse of US firms?

The collapse of two US firms, First Brands and Tricolor, has shone a light on private credit and its growing influence in the global economy.The failures have led to ballooning losses at traditional banks, and, coupled with worries about the health of US regional banks, have raised concerns about weak lending standards and potential threats from an opaque corner of the so-called shadow banking sector.But what is private credit and should we be worried?Private credit emerged in the 1980s as a relatively niche industry offering private loans to businesses.Unlike banks, where loans are backed by customer deposits, private credit firms’ loans are backed by money raised from private investors, including pension funds, insurers and high net worth individuals. But they have become increasingly intertwined with the traditional banking industry, with lenders in Europe and the EU significantly exposed to private credit firms

‘I lost 25 pounds in 20 days’: what it’s like to be on the frontline of a global cyber-attack

The security chief of SolarWinds reflects on the Russian hack that exposed US government agencies – and the heart attack he suffered in the aftermathTim Brown will remember 12 December 2020 for ever.It was the day the software company SolarWinds was notified it had been hacked by Russia.Brown, the chief information security officer at SolarWinds, immediately understood the implications: any of the company’s more than 300,000 global clients could be affected too.The exploit allowed the hackers remote access to the systems of customers that had installed SolarWinds’ network software Orion, including the US treasury department, the US department of commerce’s National Telecommunications and Information Administration, along with thousands of companies and public institutions.Brown says he was “running on adrenaline” in the first few days after the attack

Inside San Francisco’s new AI school: is this the future of US education?

In the world’s tech innovation epicenter, an “AI-powered” private school has made headlines for unabashedly embracing the technology.Alpha School San Francisco, which opened its doors to K-8 students this fall, is the newest outpost of a network of 14 nationwide private schools. Its learning model entails just two hours of focused academic work per day, during which the school says students can learn twice as fast as their counterparts in traditional schools – with the help of artificial intelligence.AI, Alpha says, is central to the school’s learning philosophy, brand and impact on students.Alpha is not alone in its efforts to incorporate AI into the classroom

Verstappen wins sprint race after Norris and Piastri collide, before US Grand Prix qualifying – live

Lando Norris and Oscar Piastri collided with each other on the first lap again as the title rivals were both dumped out of the United States sprint.The buildup to the weekend has been dominated by the “consequences” imposed by McLaren on Norris after the team held him responsible for banging wheels with Piastri in Singapore a fortnight ago. That minor tap paled into insignificance compared with the carnage at turn one of Saturday’s sprint in Austin, as Norris was left with only three tyres on his car.Starting from third, Piastri – who leads Norris by 22 points in the championship standings – attempted to cut back up the inside of his teammate but turned into Sauber’s Nico Hülkenberg and, as a result, smashed into the rear left of Norris’s car.Norris was spun round as his left-rear tyre was sent careering across the track

Champions Day horse racing at Ascot: shock winners at 200-1 and 100-1 – as it happened

Greg Wood’s report from AscotChampions Day pain for puntersAll eyes were on the Champions Stakes ahead of Champions Day at Ascot and while Calandagan was a worthy winner and may have put up the Flat racing performance of the season it was the big-priced winners on the day who made the headlines with Powerful Glory, at 200-1, and Cicero’s Gift, at 100-1, pulling off almighty shocks on a day when the racegoers flocked to the track to supposedly crown “champions”.With the ground riding fast after a prolonged dry spell this was not what was supposed to be expected. However, those sorts of results can come at the end of a long season and is partly the reason why Champions Day doesn’t always prove to be the day when the best come to the fore. Good night for now – we’ll be back with a live blog on Boxing Day as the focus now turns to jump racing.1 Crown Of Oaks 5/1 2 Ebt’s Guard 10/1 3 Holloway Boy 16/1 4 Shout 6/14