The owner of the Drax power plant in North Yorkshire will give shareholders a £300m windfall after a sharp rise in taxpayer subsidies boosted its profits for the first half of the year to more than £500m. The power station, which receives hefty subsidies from burning biomass wood chips, mainly shipped from North America, generated … Read more
(NewsNation) — A million dollars used to feel like a lot of money, but nowadays, it’s barely enough for a “starter home” in more than 200 U.S. cities, according to new research. An analysis by Zillow found that the typical “starter home” now costs $1 million or more in a record 237 cities, up from 84 … Read more
Eurostar passengers travelling from London to Paris on Friday were asked to postpone trips if possible as the rail operator cancelled one in four trains over the weekend after arson attacks caused widespread disruption to France’s high-speed rail network hours before the start of the Olympics. Most cross-Channel services were leaving St Pancras International station … Read more
Many of yesterday’s talks were littered with the acronyms you’d expect from this assemblage of high-minded panelists: YC, FTC, AI, LLMs. But threaded throughout the conversations—foundational to them, you might say—was boosterism for open source AI. It was a stark left turn (or return, if you’re a Linux head) from the app-obsessed 2010s, when developers … Read more
Labour will seek to persuade people living near proposed pylon routes and other renewable energy infrastructure that the developments are critical to bring down bills and tackle carbon emissions, the energy secretary said. Ed Miliband promised to consider new benefits for communities affected by the construction of renewable energy infrastructure, and community ownership of the … Read more
Rachel Reeves is preparing to announce Treasury analysis of Labour’s spending inheritance from the Conservatives in parliament on Monday to highlight why she will need to make “tough decisions” in her autumn budget. The chancellor’s audit is expected to show £20bn in commitments left unaccounted for by the previous government, building on a narrative that … Read more
UK motorists are still being overcharged for fuel, according to the competition watchdog, which said they paid £1.6bn more than they should have last year alone. In its cost of living report, the Competition and Markets Authority (CMA) concluded that prices at the pump were still too high, and that the lack of proper competition … Read more
Spending on artificial intelligence could hit a staggering $1tn, according to analysts concerned about whether there will be a return on such a spree. Mark Zuckerberg’s answer this week to such jitters was to release his latest AI system for free. Meta’s Llama 3.1 405B is its most powerful yet, it says, and one of … Read more
Mutual fund investors were left shocked when it was reported that Sebi has conducted raids at Quant Mutual Fund offices in a suspected case of front running. Since then, Quant Small Cap Fun, which has been consistently outperforming, has underperformed against its respective benchmark. The scheme gave 1.38% return compared to 2.68% by its benchmark … Read more
Ted Baker could disappear from British high streets as the struggling fashion chain plans to shut all its stores within weeks. The business behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), entered administration in March. It has since shut 15 shops in the UK, resulting in about 245 staff being made … Read more
