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The Guardian Business
FinanceEN-GB

Labour’s Brexit red lines ready for ‘dignified retirement’, says their co-author

Exclusive: MP Chris Ward believes ditching pledges and forming closer ties with EU would protect it from global threats One of the architects of Keir Stamer’s Brexit red lines has called for Andy Burnham to abandon them at the next election, saying a new relationship with the EU would protect the UK from global threats. The call is the latest voice from a prominent figure in Starmer’s administration for a faster transition to a far closer European relationship, after the former chancellor Rachel Reeves said it was right for Burnham to consider rejoining. Continue reading...

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Chris Ward
The Guardian Business
FinanceEN-GB

Elon Musk and the tech bros banked on Trump and lost. Humbled, humiliated: what will they do next? | Jonathan Liew

Democrats won seats on anti-datacentre tickets and Musk wasted nearly half a billion dollars. Big tech may be losing its grip, but it won’t go quietly Photos That Precede Unfortunate Events: a couple of months back, Donald Trump hosted some of the world’s most powerful tech executives at the White House for a “Super Intelligence luncheon”, which by coincidence is also how my mum described her tuna sandwiches in a forlorn attempt to get me to eat them. Sitting either side of the president were Elon Musk, making a rare offline appearance in daylight hours, and Jensen Huang, the Nvidia chief executive carving out a precious slot in what we now know was an extremely busy schedule. Over a delicious meal of microchips and rare-earth metals, the billionaires sketched out a utopian future of an AI industry unencumbered by regulation or safeguards, powered by their heroic strongman leader, a political genius effortlessly able to impose his will upon an entire nation. And perhaps it should have been apparent even at the time that these (mostly) men were putting their faith in a guy who had recently been defeated by pond algae. But as the drinks and the good times flowed, it was still possible to believe that the sun would never set on the thousand-year American superintelligence empire. Jonathan Liew is a Guardian columnist The Guardian’s year in review 2026. On Tuesday 1 December 2026, join your favourite Guardian writers for an evening of candid conversations, witty remarks and surprises as we look back on the year-defining stories of 2026. With Zoe Williams, Lucy Mangan, Jonathan Liew, Heather Stewart, Pippa Crerar, John Crace and host, multi-award-winning comedian Suzi Ruffell. Book tickets here or at guardian.live Continue reading...

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Donald Trump and Elon Musk at a test flight of the SpaceX rocket, Brownsville, Texas, 19 November 2024.
The Guardian Business
FinanceEN-GB

The hottest product in Britain this year? A 2kg bag of ice

As the UK endured record-breaking temperatures this summer, nothing grew in popularity on Deliveroo like sacks of sweet relief from the supermarket Iceland Name: Iceland’s 2kg bag of ice. Age: The first patents for commercial mechanical production date to the 1850s. Continue reading...

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A blue-and-white plastic bag containing 2kg of ice cubes
The Guardian Business
FinanceEN-GB

Dortmund police attacked as crowd storms kebab shop for €1 doner

Officers pelted with bottles, stones and fireworks after people try to get their hands on special introductory offer Police were called to a doner kebab shop in Dortmund, western Germany on Sunday after hundreds of customers stormed the premises in the hope of securing a portion for a one-off rock bottom introductory price. The owner of the outlet was forced to call the police after becoming overwhelmed by the crowds that turned up for its opening. Continue reading...

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A close-up of a worker cutting meat from a spit
The Guardian Business
FinanceEN-GB

KFC’s arrival at Italian ski slopes angers food and mountain purists

Fast-food outlets at two prestigious Dolomites resorts are Italy’s first, with legal action threatened Europe live – latest updates Skiers on the slopes of two of Italy’s most prestigious resorts will be able to dine from buckets of fried chicken between runs this winter as the US fast-food chain KFC prepares to open outlets, infuriating mountain and food purists while prompting a prominent businessman to threaten legal action. KFC will open its first high-altitude restaurants on the slopes of Cortina d’Ampezzo and Madonna di Campiglio, in the Dolomites, on 5 December, an initiative the company said was aimed at “surprising people” and “reaching places” where nobody would expect to find it. Continue reading...

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Ski resort of Madonna di Campiglio in the morning as sun rises. The buildings are nestled at the foot of the ski slopes in the snow.
The Guardian Business
FinanceEN-GB

EU sues IBM and two European firms over troubled entry/exit border system

Lawsuit filed last year against IBM, Atos and Leonardo after delays to delivery to troubled new system The EU has filed a lawsuit against IBM and two other companies involved in its troubled border-management system, an internal document has revealed. The bloc’s IT agency, EU-Lisa, filed a case last year against IBM, the French IT company Atos and Italian defence contractor Leonardo, the three members of a consortium to implement and maintain the EU’s entry/exit system, which was launched in October 2025. Continue reading...

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a passenger information screen on the EU's entry/exit system at Alicante airport
The Guardian Business
FinanceEN-GB

Thames Water asks creditors for more time to help repay £20bn debt pile

Troubled utility lobbies for deadline on part of the debt to be extended to March 2028 Thames Water has asked creditors for more time to pay back billions of pounds in debt, as the water company scrambles to keep itself afloat. The UK’s largest water company said it had proposed an “interim” deal under which the deadline to pay off an unspecified portion of the £20bn of debt on its balance sheet would be extended from 2027 to March 2028. Continue reading...

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A Thames Water service van with hazard stripes is parked in a car park
The Guardian Business
FinanceEN-GB

‘Obvious risk of further tragedy’ at rail crossing type at which Amazon driver died, inquiry finds

Call for overhaul of manually operated level crossings after delivery worker was killed by passenger train in Kent An Amazon delivery driver was killed by a train after he drove his van on to railway tracks at a manually operated level crossing, apparently without realising he needed to open the exit gate first, an official investigation has reported. Safety inspectors said there was “an obvious risk of further tragedy”, with a second similar fatal event still being investigated, and called for an overhaul of this type of crossing. Continue reading...

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Emergency workers gather on railway tracks at Lower Road level crossing in Teynham
The Guardian Business
FinanceEN-GB

Why is Nvidia’s Jensen Huang at the centre of a US-China row?

Donald Trump praised the chipmaker’s CEO despite reports he had an affair with a suspected Chinese spy Nvidia’s board needs to do some succession planning – sharpish Nvidia has launched an investigation into allegations that its chief executive, Jensen Huang, has been the target of a Chinese espionage operation. Huang has admitted to having an affair with a suspected Chinese spy who was reportedly central to the “foreign intelligence effort”. Continue reading...

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Jensen Huang, co-founder and CEO of Nvidia, speaks during GTC Berlin
The Guardian Business
FinanceEN-GB

Insurance industry workers: how is climate-related risk managed in your company?

Whether you’re a modeller, actuary or underwriter, we’d like to hear how the insurance industry is dealing with climate risk With more frequent storms, floods, wildfires and drought, caused by climate change, having a huge impact on property around the world, we’d like to find out how the insurance industry is managing climate change risk. There have been reports of insurance workers, who analyse risk around a natural disaster, coming under pressure to downplay losses in order to keep premiums affordable for customers. The practice of underestimating risks to keep insurance premiums down could be widespread. Continue reading...

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Aerial view of flooded Brechin streets with submerged houses, cars, and trees in brown water
The Guardian Business
FinanceEN-GB

Anti-AI populism is the future of American politics | Garrison Lovely

Democrats should drag Sam Altman, Dario Amodei and Elon Musk before the world and make them explain just what it is they’re trying to do and why The AI industry had a bad night last week. The Democrats’ sweeping midterms victory is a rebuke of Donald Trump, the industry’s most powerful champion. Continue reading...

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Sam Altman in a tuxedo.
The Guardian Business
FinanceEN-GB

Economic relief is on the way, Democrats say. But what, how and when?

Winning candidates promised to cut costs, rein in corporations, curb billionaire power and improve the economy Don’t worry, cash-strapped Americans, “relief is on the way”, the senator Chuck Schumer promised last week in a press conference celebrating Democrats’ massive midterms win. Winning candidates promised to cut food and healthcare costs, rein in corporations ripping off consumers and workers, curb billionaire power and make the world’s biggest economy better serve the working class. Continue reading...

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a customer bags groceries while a cashier assists another shopper
The Guardian Business
FinanceEN-GB

Crime pays: how Grand Theft Auto became a cultural colossus

Ever since it crashed on to PC and consoles in the late 90s, GTA has been tearing up the game-making rulebook. We explore how its cultural references, rebel spirit and sprawling sense of freedom make it a definitive work of art In the 00s, when the Grand Theft Auto developer Rockstar Games revealed a new project, video game writers from all over the UK would make the journey to the company’s office in London. They would be ushered one by one into a darkened room to sit facing an enormous TV. There would be a dish of sweets on a low bench in front of them but, in the reverential hush that descended, it was never entirely clear if it was acceptable to eat them. After a few moments, the screen would come to life. Rockstar would sometimes begin its presentation not with footage from its new game, but clips from classic movies. This is the context of what we are making, Rockstar was saying, and that is where we belong. Continue reading...

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Grand Theft Auto 6 art: a man aims a pistol beside a woman carrying a case on a dock
The Guardian Business
FinanceEN-GB

UK households face rush to find green energy installer to beat April VAT hike

Ministers pushed to reverse ‘policy madness’ of scrapping exemption on 5% tax rise for heat pumps, solar panels and batteries Households planning to invest in green energy upgrades, including heat pumps and solar panels, risk a nationwide rush to find an installer or face hundreds of pounds in unexpected costs unless the government abandons its looming VAT increase. Ministers are under growing pressure to reverse plans to scrap the 5% VAT exemption on home heat pumps, solar panels and batteries from 1 April which could add up to £1,530 on to the cost of a smart home energy system amid record demand for fossil fuel alternatives. Continue reading...

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Workers in hi-vis vests and hard hats install solar panels on a house roof
The Guardian Business
FinanceEN-GB

Rare call for more electricity supplies as wind power drops across Europe

Neso issued ‘electricity margin notice’ for gas power plants in Britain to fire up and boost generation this morning amid energy shortfall The government body tasked with keeping the lights on issued a rare call for more electricity supplies on Monday morning due to low wind power generation forecasts across Europe. A notice issued by the National Energy System Operator (Neso) on Sunday night said it faced a “shortfall” of almost 1,400 megawatts in its electricity supply margins from 6am until 11am on Monday. Continue reading...

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A flock of common scoter flies low past wind turbines off Hartlepool Bay
The Guardian Business
FinanceEN-GB

Why has Royal Mail only delivered letters twice in three months?

I am waiting for the overdue results of a cancer test, and the postal service seems to be prioritising parcels over letters In the three months since I moved to my village, I’ve had just two deliveries of letters. One of them was only because I caught a passing postman on a parcel round who arranged one just for me. The bundle contained a bank card, two notifications of an overdue bill I was unaware of, a weeks-old letter from my new water company asking me to set up payments, and a letter about a routine cancer test. There has been nothing since. Continue reading...

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A Royal Mail postman delivering letters to a country cottage.
The Guardian Business
FinanceEN-GB

Fixing UK’s youth jobs crisis demands much more investment, TUC boss warns

Paul Nowak also calls on government to avoid arbitrary benefit cuts before much-anticipated Milburn report is published this week Fixing Britain’s youth jobs crisis will require ministers to drastically increase investment in employment support while avoiding arbitrary cuts to benefits, the head of the trade union movement has said. Before an important official report expected next week, the general secretary of the Trades Union Congress, Paul Nowak, said the government had a “once in a generation chance” to secure young people’s futures. Continue reading...

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Alan Milburn gestures with both hands while speaking to a small group
The Guardian Business
FinanceEN-GB

Chinese carmaker BYD’s offices in Netherlands raided over JLR ‘copycat car’ claim

Bailiffs reportedly seized digital records before court case over alleged intellectual property breaches on Land Rover Defender Bailiffs acting for Jaguar Land Rover raided the Dutch offices of a Chinese “copycat” rival before a legal showdown this week over whether its “Defender clone” infringes intellectual property rights. Bailiffs acting on behalf of JLR reportedly seized digital records from the offices of Chinese carmaker BYD in Schiedam and Hoofddorp in August, according to the Sunday Times. Continue reading...

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A green and white new Land Rover Defender drives along a gravel track through tall grass
The Guardian Business
FinanceEN-GB

US employers keep passing rising healthcare costs to workers. There are better options

Choosing a healthcare plan can be extremely complicated, but it’s necessary to attract and retain good workers Again, healthcare costs are going up. According to a recent study from Mercer, total health benefit cost per employee in 2027 is expected to rise 8.2% – after employers’ planned cost-reduction measures (without action, employers told Mercer their existing plans would rise about 11%). This would be the highest increase since 2003. And, again, we see the same reaction from employers. The Wall Street Journal recently reported that even as healthcare costs have gone up, the share of these costs coming out employees’ paychecks has “shot up” even faster. Continue reading...

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A person sits at a cafe with a coffee, laptop, and receipt, using a smartphone.
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