‘Massive and unpredictable’ swarm entered filter drums that pull in water, Gravelines operator EDF says
The Gravelines nuclear power plant in northern France has been shut down after a swarm of jellyfish entered the filter drums that pull in cooling water, according to its state-owned operator, EDF.
The plant in northern France is one of the largest in the country and cooled from a canal connected to the North Sea.
Continue reading...Increase of 8% this year in line with ‘strong rebound’ in global market, data shows
UK toy sales have bounced back as adults increasingly muscle in on the market, snapping up everything from Pokémon trading cards and Lego sets to collectibles and action figures based on movie and TV franchises.
After falling almost 4% in 2024, UK toy sales have risen 8% so far this year, in line with the “strong rebound” enjoyed by the global market, data shows.
Continue reading...Economic uncertainty also a factor as bosses ‘stuck in limbo’ and drop in recruitment hits young people hardest
Hiring intentions among Britain’s businesses remain at a record low as they grapple with rising employment costs and worry about the economic outlook, with young people hit hardest by the drop in recruitment.
Three separate surveys issued on Monday painted a gloomy picture on hiring activity, pay and business confidence, with claims that bosses were “stuck in limbo” and waiting for greater clarity in the autumn budget.
Continue reading...Lower mortgage rates have helped cool rental sector after years of above-inflation increases in rent, data shows
Average private rents in Great Britain have fallen for the first time in five years as lower mortgage rates helped take some of the heat out of the rental sector, data shows.
Years of above-inflation increases in rents have put the squeeze on many households but the estate agent Hamptons said the average rent on a newly let property fell by 0.2% year on year in July. It was the first annual decline since August 2020, during the height of the Covid pandemic – although this national figure masks wide regional variations.
Continue reading...US carmaker makes move for licence that would allow it to provide energy to domestic and business premises
Elon Musk’s Tesla is gearing up to launch a household electricity supplier in Great Britain in the coming months.
The US electric car manufacturer run by the world’s richest man has formally applied to the energy regulator for Great Britain, Ofgem, for an electricity supply licence, according to a notice published on the watchdog’s website.
Continue reading...High-profile founder of China Renaissance Holdings went missing in 2023, sending company’s share price plunging
Bao Fan, a star dealmaker and the founder of the boutique investment bank China Renaissance Holdings, has been released more than two years after being detained by Chinese authorities, according to a person with knowledge of the matter.
China Renaissance sent shock waves through the country’s financial sector in 2023 when it announced it was unable to contact Bao, who founded the bank in 2005 with two others and still owns nearly 49% of its issued shares. The company’s share price tanked as a result of his detention.
Continue reading...US suitor KKR lobbies board to accept offer to take Assura private as CMA looks into £1.79bn offer by rival UK investor
The bidding battle for the NHS landlord Assura has heated up after its US suitor KKR lobbied the board to accept its offer, while the competition watchdog stepped up its investigation of Assura’s £1.7bn takeover by a rival UK healthcare investor.
Primary Health Properties (PHP), which invests in buildings housing GP practices, has been blocked from fully integrating Assura by the Competition and Markets Authority while it looks into the takeover.
Continue reading...Restructure by family-owned fashion chain involves 33 store closures but leaves more than 1,000 jobs at risk
River Island has got the green light for a rescue restructure that saves more than 4,000 jobs but will shut 33 of the clothing chain’s 230 stores as people shift to buying online.
The plan to reduce costs, which still puts more than 1,000 jobs and a further 70 sites at risk, won approval from a high court judge on Friday after a majority of creditors gave their backing earlier in the week.
Continue reading...Plans have provoked outrage from communities in areas of Great Britain expected to host new infrastructure
The government is pushing head with a plan to offer those who live near new electricity pylons a discount of £2,500 from their energy bills over the next 10 years to ease the backlash against its clean power plans.
Thousands of households within half a kilometre of new or upgraded electricity infrastructure could each receive up to £250 off their annual energy bill from next year to help speed up the rollout of infrastructure critical to the government’s targets.
Continue reading...Class action lawsuit argues the online travel platform distorted market with ‘best price’ clauses
Booking.com is facing a class-action lawsuit from more than 10,000 European hotels arguing that the accommodation mega-site used its muscle to distort the market to their detriment over a 20-year period.
The Association of Hotels, Restaurants and Cafes in Europe (Hotrec), which represents the industry within the EU and is bringing the legal action, recently extended to 29 August a deadline for hotel owners to join the suit because of high demand.
Continue reading...Prime minister defends government’s handling of economy but will not give assurances over not raising income tax, employee NI or VAT
Ed Davey, the Liberal Democrat leader, has urged Keir Starmer to call Donald Trump to encourage him to use his influence to block Israel’s plans for a “full occupation” of Gaza.
In a statement, Davey said:
[Israeli PM Benjamin] Netanyahu’s latest proposals for the occupation of all of Gaza are utterly horrifying.
If realised, they will only wreak yet more destruction on Gazans - while gravely endangering the lives of the hostages still held in Hamas’ captivity.
I see NIESR is talking today about a £41.2bn hole in the UK public finances
Two things are newsworthy:
Continue reading...President repeats threat to bring in levies ‘within next week or so’ in attempt to get companies to move production to US
Shares in European pharmaceutical companies have sunk to a four-month low, after Donald Trump repeated his threats to introduce tariffs on drug imports “within the next week or so”.
Europe’s Stoxx Health Care index slid by 2.8% on Wednesday, falling to its lowest level since mid-April, shortly after the US president’s initial “liberation day” tariff announcements.
Continue reading...NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap
Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation, according to a leading thinktank.
In a blow to Labour’s hopes of balancing the books without breaking manifesto commitments ruling out personal tax rises, the National Institute of Economic and Social Research (NIESR) said a number of factors would knock off course the chancellor’s plans to stay within Whitehall spending limits.
Continue reading...Chinese fast fashion retailer penalised month after €40m fine from French regulator in July
The Italian authorities have fined Shein €1m (£870,000) for making “misleading or omissive” environmental claims about its products, the second time in as many months the Chinese fashion retailer has been targeted by European regulators.
Environmental sustainability and social responsibility messages on Shein’s website were in some cases “vague, generic, and/or overly emphatic” and in others were “misleading or omissive”, said Italy’s competition authority, AGCM.
Continue reading...Karin Keller-Sutter accused of mishandling talks as shares dive after Switzerland hit with 39% tariff
The Swiss stock market has plunged, the cabinet has been holding emergency talks and President Karin Keller-Sutter has been accused of mishandling a vital phone call with the White House after Donald Trump hit the country with a shock 39% export tariff.
Switzerland, home to some of the world’s best-known luxury brands, was left stunned after the US president on Friday imposed one of the highest tariff rates in his global trade reset. Industry associations warned that tens of thousands of jobs were at risk.
Continue reading...Ex-chancellor criticises hesitant approach to crypto and warns country in danger of missing next surge in market
The UK has been left behind in the cryptocurrency boom and is in danger of missing a second wave of demand, according to the former chancellor George Osborne.
Osborne, who has an advisory role at the crypto exchange firm Coinbase, said the country already missed out on the first generation of crypto because the formerly sceptical US had embraced digital currencies under Donald Trump.
Continue reading...Company to carry out more tests on its Santos basin find as it continues shift from renewables back to fossil fuels
BP has made its largest oil and gas discovery of the past 25 years off the coast of Brazil as it continues to shift its focus away from renewables and back to fossil fuels.
The Santos basin oil and gas discovery, which is located in deep waters, is the company’s 10th oil discovery of the year and could be its largest since its discovery at the Shah Deniz gasfield in Azerbaijan in 1999.
Continue reading...Over 3,200 union machinists around St Louis expected to strike at midnight on Monday as they seek new contract
More than 3,200 unionized workers who assemble Boeing’s fighter jets in the St Louis area rejected Boeing’s latest offer on Sunday and will strike at midnight on Monday, the International Association of Machinists and Aerospace Workers union said.
“IAM District 837 members ... deserve a contract that reflects their skill, dedication, and the critical role they play in our nation’s defense,” the union’s business representative, Tom Boelling, said.
Continue reading...City regulator says motorists should start to get payments in 2026 with ‘most payouts likely to be under £950’
Explainer: what the supreme court ruling means for UK motorists
Editorial: Mis-sold loans demand action, not excuses or spin
Millions of drivers could be handed a share of a multibillion-pound compensation package after the City regulator said it would open a redress scheme for consumers affected by the car finance scandal.
The Financial Conduct Authority (FCA) will consult on the redress scheme, which could cost banks between £9bn and £18bn when it begins paying consumers compensation next year.
Continue reading...US trade representative says ‘the president is the president’ after firing of labor statistics chief amid slow job growth
Donald Trump administration officials fanned out on Sunday’s US political shows to defend the president’s policies after a bruising week of poor economic, trade and employment numbers that culminated with the firing of labor statistics chief Erika McEntarfer.
The US trade representative, Jamieson Greer, said Trump had “real concerns” about the jobs numbers that extend beyond Friday’s report that showed the national economy added 73,000 jobs in July, far below expectations. Job growth numbers were revised down by 285,000 for the two previous months as well.
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