UK borrowing costs drop to lowest level in more than a year

UK borrowing costs have dropped to their lowest level in more than a year, as investors were encouraged by more stable government finances and the prospect of further interest rate cuts.The yield, or interest rate, on 10-year UK government bonds fell to 4.34%, down from 4.41%, to the lowest level since December 2024, with the prospect of the UK public finances being put on a firmer footing lowering the risk of holding UK debt.The fall in UK yield on almost £3tn of UK debt represents a boost for Rachel Reeves, who fought hard inside government before November’s budget to increase the Treasury’s financial buffer and win over international investors who had become sceptical about the UK’s ability to balance its books

South East Water could lose operating licence after outages in Kent and Sussex

South East Water could lose its operating licence after residents across Kent and Sussex faced up to a week without water.The environment secretary, Emma Reynolds, has called for the regulator to review the company’s operating licence. If it were to lose it, the company would fall into a special administration regime until a new buyer was found.If the regulator, Ofwat, decides the company has breached its licence but decides not to revoke it, penalties include a fine of 10% of the company’s annual turnover. Ofwat in 2024 decided Thames Water was in breach of its licence but decided to avoid forcing it into special measures and instead insisted on a turnaround plan

Elon Musk’s stubborn spin on Grok’s sexualized images controversy

Hello, and welcome to TechScape. I’m your host, Blake Montgomery, US tech editor for the Guardian. Today, we discuss Elon Musk’s rosy depiction of Grok’s image generation controversy; the seven-figure panic among Silicon Valley billionaires over a proposed wealth tax in California, though with one notable exception; and how AI and robotics have revitalized the Consumer Electronics Showcase.The firestorm over the Grok AI tool has been raging for more than a week now, and it shows no signs of dying down.Last week, I wrote about the rising backlash against Elon Musk’s Grok AI tool, which in recent weeks has allowed users to generate thousands of sexualized images of women

X ‘acting to comply with UK law’ after outcry over sexualised images

Elon Musk’s X is understood to have told the government it is acting to comply with UK law, after nearly a fortnight of public outcry at the use of its AI tool Grok to manipulate images of women and children by removing their clothes.Keir Starmer told the House of Commons on Wednesday that photographs generated by Grok were “disgusting” and “shameful”, but said he had been informed that X was “acting to ensure full compliance with UK law”.“If so, that is welcome,” the prime minister said. “But we are not going to back down. They must act

England’s T20 World Cup plans hit by Adil Rashid and Rehan Ahmed visa delays

England have had a setback in their preparations for the T20 World Cup next month with the Indian government yet to issue visas to the spinners Adil Rashid and Rehan Ahmed. The delay means that both players, who have Pakistani heritage, are unlikely to travel with the rest of the squad this weekend for six warm-up matches against Sri Lanka, and it is unclear when they will join their teammates.The visa delays have not come as a surprise to the England and Wales Cricket Board, which has become accustomed to the Indian government’s bureaucratic approach in recent years due to their worsening diplomatic and political relations with Pakistan.Shoaib Bashir missed the first Test of England’s series in India two years ago, as he had to fly back to London to complete the visa application process, while Saqib Mahmood has had issues in the past.The ECB is understood to have received assurances from the Indian government that it has no objection to both players’ applications, but the timing is uncertain and it has engaged help from the UK government in an attempt to expedite the process

Amateur stuns pros to win One Point Slam and A$1m in boost for Australian Open

Tennis Australia is the big winner as new format draws full house and makes Jordan Smith a millionaireA 29-year-old tennis coach from Sydney won the inaugural One Point Slam at the Australian Open and its A$1m prize on Wednesday, after upstaging a field that included Jannik Sinner, Carlos Alcaraz, Iga Swiatek and Coco Gauff.It is Tennis Australia, however, which won the jackpot, after the new concept – despite its near three-hour duration, often confusing format and awkward exchanges between players – attracted a full house to Rod Laver Arena during opening week as organisers look at non‑traditional ways to attract fans to Melbourne Park.It was a knockout tournament with a difference, one in which each tie was determined by a single point. To assist the amateurs, the professionals in the field were given only a single serve. And to decide the server, a game of rock‑paper‑scissors was held before each point