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Lisa Nandy says BBC staff have been strongly affected and have expressed frustration that high-paid presenters and executives are unlikely to be affectedThe BBC's sudden announcement of 2,000 job cuts has had a “very strong effect” on staff, the UK's culture secretary, Lisa Nandy, has said, as employees expressed frustration that highly paid presenters and senior staff would not be the prime targets of the cuts.Nandy, who has been having conversations with BBC staff during discussions about the broadcaster's charter renewal, is understood to be keen that staff are involved in making the cost-cutting plan, which will affect as many as 10% of the broadcaster's 21,000 employees over the next three years. Continue reading......

ONS figure for February suggests Britain was gaining momentum before conflict dashed hopes of recoveryBusiness live – latest updatesUK GDP expanded by a stronger than expected 0.5% in February, official figures show, suggesting the economy was gaining momentum before the onset of war in the Middle East dashed hopes of recovery.The jump, reported by the Office for National Statistics (ONS), was significantly bigger than the 0.1% forecast by economists. January's flatlining figure was also revised up, to 0.1% growth. Continue reading......

Guardian readers describe how their lives have been upended by cost hikes stemming from Trump's Iran warWith the US and Israel's war on Iran now in its seventh week, with a fragile ceasefire in place since earlier this month, Americans are continuing to feel the effects at the pump as global fuel prices rise.For several readers who spoke to the Guardian, the impact has forced difficult trade-offs – from accessing essential medicines and groceries to facing the brink of homelessness amid an already rising cost of living. Continue reading......

Exit of former Newsnight editor after eight years comes after appointment of new chief executive Priya DograChannel 4's content chief, Ian Katz, who holds responsibility for the broadcaster's £650m annual programming budget and output, is to leave after almost nine years in the post.Katz, a former senior executive at the Guardian, became the channel's director of programmes in January 2018, having moved from being the editor of BBC's Newsnight. Continue reading......

For decades, Wildings was the poshest shop in town. But since it closed down in 2019, the storied building has fallen into disrepair and been commandeered as a drug den and a skate park. What happened?I'm standing outside a lift in a department store in Newport, Wales, looking at the sign, wondering where to go. Stay on the ground floor for shoes, giftware and presents, ladies' accessories and Estée Lauder? Or up to the first floor for furniture and ladies' fashions – Annabelle, Tigi-Wear, Autonomy? It's the second floor for cookshop and homeware. Lingerie is on three, plus Alfred's coffee shop and tea room. Maybe I'll go straight there for a cappuccino and a ponder …But nothing happens when I press the button. The panel is hanging from the wall by its wires and doesn't look safe. I'd be nervous about stepping into this lift. Plus, it's dark. I'm using the torch on my phone to read the sign. There's no giftware on this floor, no presents, no cosmetics counter. Once, this floor would have s...

Budget airline says passengers are leaving it later to book flights owing to economic uncertaintyBusiness live – latest updatesThe budget airline easyJet has warned the impact of the Iran war on bookings and oil prices will hit its profits, having driven up fuel costs by £25m in the last month alone.It said it expected to report an increased pre-tax loss of £540-£560m for the six months to March, up from £394m in the first half of 2024-25. The carrier typically makes its money in the second half of the year which includes the peak summer period. Continue reading......

Every wave of new tech has come with a doomsday scenario. But governments just aren't planning a human response on the scale required The transition to a world of artificial intelligence has given a whole new meaning to the concept that capitalism can only renew itself through creative destruction. This is the idea that clapped-out technologies have to be replaced by new ways of doing things, even though the process can be brutal.That has been the way of things for every new wave of inventions since the dawn of the industrial age in the mid-18th century, but with machines now displaying cognitive skills, able to both think and learn, the potential for economic disruption is all the greater.Larry Elliott is a Guardian columnist Continue reading......

Ministers drawing up contingency plans for 'reasonable worst-case scenario' if supply of CO2 is disruptedBusiness live – latest updatesThe UK could face some gaps on supermarket shelves this summer if disruption caused by the Iran war continues, with shortages of carbon dioxide potentially hitting supplies of chicken, pork and fizzy drinks.Government ministers are reportedly drawing up contingency plans for a “reasonable worst-case scenario” if the key shipping lane of the strait of Hormuz does not reopen, disrupting supplies of the CO2 required by the food industry. Continue reading......

British designer aims to bring eco-friendly awareness to the high street in second collection with retailerStella McCartney, the luxury fashion designer who refuses to use leather, fur or feathers, is returning to the high street for a sustainable collection with H&M.The collaboration between the British designer and the Swedish retail company will go on sale in May. Continue reading......

UK's biggest supermarket voices caution for year ahead despite annual profits rising 8.5% to £2.4bnBusiness live – latest updatesTesco has warned that profits could fall back in the year ahead amid “increased uncertainty caused by the conflict in the Middle East”.The warning came after the UK's biggest supermarket hit its highest share of the market in a decade. Continue reading......

Resignation announced of Jai Patel, whose liquidated crypto firm was relaunched as Stack BTC this yearThe chief executive of a bitcoin company promoted by Nigel Farage has left his role as the venture attempts to convince investors that it is going to deliver “long-term value” for shareholders.Stack BTC was launched to much fanfare in March this year, with Farage and former chancellor Kwasi Kwarteng becoming some of its first shareholders. The company says its founder is Paul Withers, a friend of the Reform UK leader who owns a gold bullion company that Farage has also promoted, Direct Bullion. Continue reading......

Energy crisis unfolding in Middle East has added political urgency, and more funding, to transform South Korea's solar industryIn Guyang-ri, a farming village of 70 households about 90 minutes south-east of Seoul, people gather for communal free lunches six days a week. The meals are funded by the village's one-megawatt solar installation, which generates roughly 10m won ($6,800) in net profit each month.“Residents eat lunch together every day, so we see each other's faces, talk together,” says Jeon Joo-young, the village chief. “Bonds and solidarity between residents become much stronger. Life becomes more enjoyable.” Continue reading......

Rolling coverage of the latest economic and financial newsRachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced.With the economy stagnating to start the year, we expect a rebound in February. We don't discount an upward revision to January GDP either. Our nowcast models point to both a potential upward revision to January and some further upward momentum in February.What do we see for February GDP? We see GDP expanding by 0.2% m-o-m, lifted by broad-based momentum across the services, production and construction sectors. Continue reading......

Rebrand as NewBird AI sent shares up 582% in bizarre and rapid turnaround for firm that had fallen on hard timesAllbirds, the maker of minimalist wool sneakers beloved by Silicon Valley, announced on Wednesday that it is leaving shoes behind and pivoting to artificial intelligence. The new focus and rebrand as “NewBird AI” sent the company's stock up 582% as of mid-day during a flurry of trading.The surging stock price and new direction is a bizarre, rapid turnaround for a company that had fallen into disrepair in recent years. Once valued at $4bn, Allbirds' shares had lost 99% of their worth since 2021 and earlier this month the company announced plans for a $39m sale to brand management firm American Exchange Company. Continue reading......

More landlords having to cut prices to secure tenants, Rightmove data showsAverage private rents have stopped rising in Great Britain after almost a decade of increases, as more landlords cut their prices to secure a tenant, data shows.The typical advertised private rent outside London for properties coming on to the market remained flat at £1,370 a calendar month in the first three months of 2026, according to the property website Rightmove. Continue reading......

Verdict in states' case says concert giant stifled competition in ticketing industry, raising pressure for changesConcert giant Live Nation and its Ticketmaster subsidiary had a harmful monopoly over big concert venues, a Manhattan federal jury has found, dealing the company a loss in a lawsuit over claims brought by dozens of US states.The jury deliberated for four days before reaching its decision on Wednesday in the closely watched case, which helped peel back the curtain on a business that dominates live entertainment across much of the world. Continue reading......

Company has received about £8.7bn in renewable energy subsidies since 2012, despite claims wood pellets are not sourced sustainablyThe owner of the Drax power plant in North Yorkshire received record subsidies of almost £1bn for burning trees to generate electricity in 2025, a climate thinktank has calculated.The company was paid £999m last year for generating about 4.5% of Great Britain's electricity from its biomass plant, costing each household £13 a year, according to analysts at Ember. Continue reading......

Scheme cutting bills by up to 25% expanded to cover 10,000 firms, but they will not be paid until next yearRachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced. Continue reading......

Keir Starmer can't be blamed for the crisis in the Middle East, but he has to reassure people that he is prepared for its long-term consequencesPublic reassurance is one of the first duties of the government in difficult times. The early months of the Covid pandemic offer a case study in how to get this wrong. Boris Johnson was paralysed by indecision and denial of the severity of what was unfolding. Panic-buying cleared supermarket shelves of essential goods.Sir Keir Starmer is unlike Mr Johnson in temperament and work ethic, but he too is struggling to get ahead of events in a global crisis. It isn't easy when the origin of turbulence is a superpower gone rogue. Donald Trump's impulsive actions can't be anticipated with epidemiological precision like a virus. Continue reading......

UK chancellor tells US audience she is 'not convinced that this conflict has made the world a safer place'Middle East crisis – live updatesBusiness live – latest updatesRachel Reeves has stepped up her criticism of Donald Trump's war on Iran, describing it as a “mistake” that has destabilised the global economy and damaged living standards around the world.In a marked fraying of the transatlantic relationship, the UK chancellor said Trump breaking off from diplomatic talks with Iran and launching airstrikes had not made the world a safer place. Continue reading......