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08.01.26 - 18:36
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′Shadow fleet′ ships moving sanctioned oil reflagged to Russia at rising rate (The Guardian)
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Lloyd's List analysis suggests 40 suspicious vessels joined Russian registry last year, with 17 reflagged last monthForty ships accused of belonging to a large “shadow fleet” moving sanctioned oil for Venezuela and others were reflagged to Russia last year in an apparent attempt to gain Kremlin protection from American seizure.Analysis by the shipping intelligence publication Lloyd's List suggests that of those, at least 17 suspicious vessels joined the Russian registry over the past month, compared with 15 ships in the previous five months of 2025. Continue reading......
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08.01.26 - 17:18
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Software firm belonging to Tory donor Frank Hester pays out £50m dividend (The Guardian)
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Payout comes after sales and profits surged at TPP Group, whose software said to be used by 7,800 NHS organisationsThe software company belonging to the Tory donor Frank Hester, a major contractor to the NHS, has paid a £50m dividend after sales and profits surged.TPP Group, which was founded by Hester in 1997 as The Phoenix Partnership, specialises in healthcare technology and provides its SystmOne software to the NHS. The company says it is used by 7,800 NHS organisations, including more than 2,600 GP practices and a third of acute mental health trusts, with 61m electronic health records stored in its database. It has also expanded abroad, including to China, the Middle East and the Caribbean. Continue reading......
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08.01.26 - 17:00
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CMA begins full review of Kingsmill owner′s planned takeover of bread rival Hovis (The Guardian)
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Move by UK competition regulator comes as Associated British Foods, which owns Primark, issues profit warningBusiness live – latest updatesThe UK competition watchdog has ramped up its investigation into a £75m takeover deal that will result in the owner of Kingsmill snapping up its sliced bread rival Hovis.Associated British Foods (ABF), which also owns the Primark clothing chain, confirmed plans to buy Hovis from its private equity owners Endless in August, combining the UK's second and third largest bread brands. Continue reading......
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08.01.26 - 16:30
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Labour to announce pub business rates U-turn after industry outcry (The Guardian)
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Change likely to be welcomed by pub trade and opposition but will represent yet another government climbdownUK politics live – latest updatesBusiness live – latest updatesMinisters are preparing to U-turn over changes to business rates for pubs after a wave of disquiet from the hospitality industry, the Guardian has been told.In yet another government climbdown on a contentious policy, details of revisions to the changes to business rates, which were set to particularly affect the hospitality industry, are to be announced in the next few days. Continue reading......
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08.01.26 - 15:48
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Alleged scam kingpin Chen Zhi arrives in China after extradition from Colombia (The Guardian)
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Chen founded multinational conglomerate Prince Group that US says is front for multibillion-dollar fraud operationChinese television has shown footage of the US-indicted tycoon Chen Zhi being escorted by armed police after his extradition to China from Cambodia, where authorities on Thursday ordered the liquidation of a bank he founded linked to a massive “scam centre” network.Chen, who chairs a conglomerate the United States says is a front for a multibillion-dollar online fraud operation, was shown in handcuffs and hooded as he was led off a plane at a Beijing airport by black-clad Swat officers, with the state broadcaster CCTV describing him as the “leader of a major transnational gambling and fraud crime syndicate”. Continue reading......
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08.01.26 - 15:30
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Tesco aiming for bumper 2026 after best Christmas market share in decade (The Guardian)
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Chain reports strong sales but shares drop 5% after analysts say third quarter performance was behind expectationsBusiness live – latest updatesTesco has said it aims to grab an even bigger slice of the grocery market this year after winning its best share in more than a decade over Christmas with strong sales of fresh food and its Finest own-label range.The supermarket, which has an almost 29% market share, according to Worldpanel by Numerator, said it had taken the most share from Asda, the UK's third-largest supermarket chain that has been struggling to turn around falling sales. Continue reading......
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08.01.26 - 14:48
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Revealed: the crypto entrepreneur linked to illegal weight-loss drug operation (The Guardian)
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Exclusive: Haul of illicit products led by medicines regulator was described as world's largest of its kind, but no arrests have yet been madeWedged between an air-compressor service and an auto repair shop on a Northampton industrial estate is an undistinguished red-brick unit that was, until recently, the base for a major illegal weight-loss drug operation.In late October, enforcement officers arrived here for a two-day raid, seizing thousands of unlicensed Alluvi-branded weight-loss pens, raw chemical ingredients, manufacturing equipment, packaging materials and £20,000 in cash. Some of the pens were labelled as containing retatrutide – a powerful GLP-1 agonist still in clinical trials, unapproved for medical use but widely hyped online as the next Mounjaro. Continue reading......
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08.01.26 - 13:42
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Greggs puts up price of sausage roll by 5p to £1.35 amid rising costs (The Guardian)
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Bakery chain also adds 10p to a latte, bringing it to £2.25, as CEO warns of 'a tough, challenging market'Greggs has added 5p to the price of a sausage roll and 10p to a latte coffee as it leans on some of its bestsellers to soak up rising wage, energy and packaging costs.The UK's largest bakery chain said it had no plans for further price increases at present and it expected inflation to ease this year as it admitted it had sold fewer items in the run-up to Christmas amid a “very tough, challenging market”. Continue reading......
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08.01.26 - 13:13
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Musk lawsuit over OpenAI for-profit conversion can go to trial, US judge says (The Guardian)
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Judge says there is plenty of evidence to suggest OpenAI's leaders made assurances nonprofit structure would be keptBusiness live – latest updatesElon Musk's lawsuit against OpenAI is to go to trial after a US judge said there is plenty of evidence to support the billionaire's case.The world's richest man, who co-founded OpenAI, is suing the ChatGPT developer and its chief executive, Sam Altman, over claims its leaders violated the organisation's founding mission by shifting to a for-profit model. Continue reading......
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08.01.26 - 12:12
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Trump plans to use Venezuela′s huge oil reserves ′to cut US consumer price to $50 a barrel′ (The Guardian)
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President reportedly hopes falling price will cut domestic consumer energy billsBusiness live – latest updatesDonald Trump plans to use Venezuela's vast crude reserves to establish control of most of the western hemisphere's oil in an attempt to drive the market price down to about $50 a barrel, according to reports.The US president has repeatedly raised the prospect of producing enough crude from Venezuela's oilfields to drive down the US oil price from more than $56 a barrel today to about $50 to cut energy costs for consumers, according to the Wall Street Journal, which cited senior Trump administration officials. Continue reading......
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08.01.26 - 11:30
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Tech titans divided over whether to pay billionaire tax or flee California (The Guardian)
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State residents worth more than $1bn could face one-off, 5% tax to help fund education, food assistance and healthcareA battle is brewing in California over a plan to tax billionaires – with tech titans divided over whether they should pay up, or flee the state.Under a tax proposal that could be put to voters this November, any California resident worth more than $1bn would have to pay a one-off, 5% tax on their assets to help cover education, food assistance and healthcare programs in the state. Continue reading......
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08.01.26 - 10:30
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Dog food accounts for 1% of UK greenhouse gas emissions, study finds (The Guardian)
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Study of 1,000 products finds wet, raw and meat-rich products have higher climate impact than dry kibbleDog food accounts for 1% of the UK's total greenhouse gas emissions, according to research that found wet, raw and meat-rich products were associated with substantially higher emissions than dry kibble.The analysis revealed striking differences in the environmental impact of commercial dog foods, with the highest-impact foods being responsible for up to 65 times more emissions than the lowest-rated options. Continue reading......
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08.01.26 - 10:30
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Trump says he will ban big investors from buying single-family homes (The Guardian)
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Median sale price was at $410,800 last year, according to the Census Bureau, even as Trump campaigned on affordabilityDonald Trump said his administration was moving to ban large institutional investors from buying single-family homes in a bid to reduce home prices.In a post on Truth Social, his social media platform, the US president said he will be asking Congress to codify the measure and will be discussing additional housing and affordability proposals in a speech at the Davos World Economic Forum. Continue reading......
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08.01.26 - 10:30
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Venezuela open to oil deal, says Rodríguez, as Vance claims US ′controls′ country′s resources (The Guardian)
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The Trump administration is asserting control over Venezuelan oil, after seizing a pair of sanctioned tankers on WednesdayVenezuela's interim president, Delcy Rodríguez, has defended plans to open up her country's oil market to Washington, as Donald Trump's vice-president JD Vance reiterated that the US would have complete control of the country's supplies.Rodríguez said on Wednesday that America's attack to remove her predecessor, Nicolás Maduro, put a “stain” on the countries' relations, but added it was “not unusual or irregular” to trade with the US, adding that Venezuela was “open to energy relations where all parties benefit.” Continue reading......
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08.01.26 - 08:12
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AI chatbot maker Anthropic plans to raise $10bn to reach $350bn valuation (The Guardian)
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Startup founded by former OpenAI staff is aiming to more than double its annualized revenue run rate this yearAnthropic is planning a $10bn fundraise that would value the Claude chatbot maker at $350bn, according to multiple reports published on Wednesday.The new valuation represents an increase of nearly double from about four months ago, per CNBC, which reported that the company had signed a term sheet that stipulated the $350bn figure. The round could close within weeks, although the size and terms could change. Singapore's sovereign wealth fund GIC and Coatue Management are planning to lead the financing, the Wall Street Journal reported. Continue reading......
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08.01.26 - 08:12
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Trump says he plans crackdown on defense firms over executive pay and stock buybacks (The Guardian)
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President says he wants to raise military budget to $1.5tn and accuses US defense companies of delivery failures Donald Trump has claimed he plans to crack down on executive compensation and shareholder payouts at military defense contractors, as his administration looks to dramatically ramp up spending on the armed forces.In a series of posts on social media, the US president said he wants to increase the military budget to $1.5tn – and complained that defense giants had been failing to swiftly deliver “vital” equipment to the US and its allies across the world. Continue reading......
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08.01.26 - 08:12
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M&S, Tesco and Greggs to report if they were Christmas shopping winners – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsRetail tech firm MRI Software has reported that UK retail ended 2025 on a far stronger note than expected.MRI's data shows that footfall at retail sites in December rose by 1.3% year on year, the biggest annual uplift for the month since 2011.The festive boost was driven by a sharp rise in evening and night-time visits, up +5.3% after 5pm, as shoppers increasingly combined retail with dining, leisure, and socialising. High streets led annual growth (+2.0%), followed by retail parks (+1.2%) and shopping centres (+0.1%), reinforcing the role of experience-led trips in driving footfall.Boxing Day was the standout trading day, recording its strongest performance in a decade. Footfall rose +4.4% year on year across all retail destinations, with evening visits up almost +10%, underlining how post-Christmas trading is shifting away from purely transactional shopping towards social and experiential activity. Continue reading......
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07.01.26 - 19:48
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The Guardian view on Britain and Europe: time to move together, faster and further | Editorial (The Guardian)
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The chaos that Donald Trump is causing in the world makes the case for continental solidarity and explicit repudiation of Brexit divisions Sir Keir Starmer's plan for 2026 was to talk more about the domestic issues that concern British voters. Donald Trump knocked that plan off course. US intervention in Venezuela inevitably demanded the prime minister's attention, as did this week's summit of Ukraine's allies, the “coalition of the willing”, in Paris. Progress towards agreeing security guarantees for Kyiv in the event of a peace deal with Russia was overshadowed by Mr Trump restating his ambition to wrest control of Greenland from Denmark. The dust had not settled when American special forces boarded a Russian-flagged oil tanker in European waters, ostensibly to enforce a blockade against Venezuela.Prime ministers have to multitask, but under these circumstances it is understandable if Sir Keir's mind has been filled with foreign affairs. He should be used to this by now. Mr Trump's return to t...
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07.01.26 - 18:48
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Starmer vows to review franchise legislation in response to Vodafone case (The Guardian)
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Prime minister to 'look closely' at legal claims against FTSE 100 telecoms groupThe prime minister has promised to review laws governing franchising agreements, in response to the case of a former Vodafone store manager whose family alleges took his own life following pressure from the FTSE 100 telecoms group.Keir Starmer said in the Commons on Wednesday that he would “look closely” at the outcome of a high-profile legal claim against Vodafone. Continue reading......
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