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Skeleton judged to be one of the largest and most complete ever unearthed was excavated on a ranch in South DakotaA vast, fossilized Tyrannosaurus rex nicknamed Gus sold at Sotheby’s in New York on Tuesday for $50.1m with fees (£37.4m) to a phone bidder – making it the most valuable dinosaur fossil sold at auction.It also sold well above a pre-sale estimate of $20m to $30m (£15m to £22.4m). Continue reading...

Recent strikes have sent oil prices climbing again, with average gas price per gallon up by 70 cents on last yearInflation cooled to an annual rate of 3.5% in June as the brief US-Iran ceasefire, which has since ended, brought energy prices down, according to new data from the Bureau of Labor Statistics.The consumer price index (CPI), which measures a basket of goods and services, has been elevated since the start of the war, largely because of higher energy prices. After mostly stayin

Brent crude rises over $85 a barrel after US carries out third night of strikes against IranGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Oil prices rose more than 2% after the conflict in the Middle East worsened, with the US carrying out a third consecutive night of strikes against Iran. Two tankers came under fire in the strait of Hormuz.Stasis has taken over markets as investors wait for the latest twist in the Iran confl

Proposed legal settlement over 2022 oil spill would resolve allegations that South Bow violated clean water lawsA proposed legal settlement with the US government would require the Keystone pipeline system’s operator to pay a $26.9m civil penalty over a large oil spill in Kansas in December 2022 and spend about $40m more to prevent future accidents.The agreement would resolve allegations from the US Environmental Protection Agency (EPA) and Kansas that South Bow, based in Canada, viola

Larger vehicles crowd our roads and are far more dangerous to pedestrians. Let’s curb them before they do even more damageWe need an Ozempic for cars. They are growing at a phenomenal rate, wreaking havoc on the roads, squeezing out smaller vehicles in car parks and endangering pedestrians.Like ever-hungry teenagers, cars in Europe are growing, on average, a centimetre wider every two years, according to new research reported by the Guardian. And fewer than half of new cars in the UK c

Timing of Devon switchoff ‘could not be worse’, says board, as members face an estimated £2m in lost revenue Britain’s biggest community solar project has been forced to shut for the duration of its first summer by the government’s energy system operator to avoid overloading the local grid with renewable energy.The north Devon solar farm was ordered to shut weeks before record high temperatures across Europe led to power supply warnings, due to concerns that the large amount of rooftop

Exclusive: Campaigners voice concerns over rising costs of £11bn Essex to Kent road tunnelThe UK’s public spending watchdog has said it plans to investigate the Lower Thames Crossing, as campaigners voice concerns over the rising costs of one of the UK’s largest infrastructure projects.The head of the National Audit Office (NAO) said he anticipated the agency would “examine and report” on the planned £11bn road tunnel between Kent and Essex, and that work to monitor the project had alr

All three companies say they still aim to achieve net zero carbon output despite construction boomMicrosoft, Amazon and Google’s collective carbon emissions have increased by nearly a fifth in the past year, driven largely by datacentre construction.In the financial year ending March 2026, the three tech companies emitted 119m mTCO₂e (metric tonnes of carbon dioxide equivalent), or about a third of those of France. Continue reading...

Direct oversight of ‘critical third parties’ such as Oracle and Microsoft given to ensure resilient cyber-defences and help safeguard UK economyThe Bank of England has been handed powers to regulate important tech firms including Amazon and Google from next week, amid fears that system failures could threaten financial stability and harm consumers.From Monday, the Bank and fellow City regulator the Financial Conduct Authority (FCA) will be in charge of ensuring that four large-scale pr

Xavier Niel buys 16% through investment vehicle Vega after Emirati telecoms group sells shareholdingThe French telecoms billionaire Xavier Niel has become Vodafone’s largest shareholder after buying a 16% stake for £4.4bn.On Friday, the Emirati telecoms group e&, which first took a stake worth £3.3bn in Vodafone in 2022, announced the sale of its entire shareholding for 112.5p a share. Continue reading...

Reform UK presents itself as the people’s voice while opaque digital wealth flows around it. That makes transparency a democratic necessityTwice now, the Guardian’s questions about Reform UK’s finances appear to have been pre-empted by stories friendly to the party. This paper revealed in April that Nigel Farage received £5m from the crypto billionaire Christopher Harborne – but an interview with Reform UK’s leader, claiming he needed the cash “for security”, was published hours earlie

AI companies want to capture the value created by entire industries. That concentration of wealth and power is society’s greatest riskOpposition to AI datacenters has emerged as a primary theme in US politics, one that – surprisingly – doesn’t fall along party lines. We applaud people coming together for constructive debate on any issue, and agree that communities need to evaluate whether any economic benefits these datacenters bring is worth their costs. Still, we worry that a focus o