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Outsourcing firm counts cost of failures that left retired UK civil servants without an income for monthsCapita has revealed that the bill for cleaning up its mess at the crisis-hit Civil Service Pension Scheme could wipe up to £40m off annual profits – a day after its chief executive apologised to MPs for a “very poor service”.The company had faced a grilling at a Commons committee hearing on Wednesday, with its chief executive Adolfo Hernandez repeatedly apologising for failures that

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

The supermarket’s central Europe stores may be sold as it doubles down on domestic dominance A couple of decades ago, Tesco was going to bestride the globe. Little ol’ UK, plus Ireland, didn’t offer enough room for the country’s biggest supermarket chain to expand, ran a theory that was encouraged from outside by complaints about a “Tescopoly”.“We are on the threshold of becoming one of the few successful international retailers,” declared Sir Terry Leahy, then the chief executive, in

Seven consumers sue the retailer, alleging it violated consumer protection and false advertising lawsA group of consumers have filed a proposed class-action lawsuit against Costco Wholesale Corporation, accusing the retailer of selling protein powder “tainted” with toxic heavy metals with no warning to consumers.The lawsuit, filed on Tuesday in federal court in Washington state, names seven consumers as plaintiffs. They allege that Costco violated consumer protection and false advertis

Plan unveiled for ground 350 metres from Old TraffordWorking cost of stadium previously stated as £2bnManchester United have said their proposed new 100,000-capacity stadium may lead to further debt being loaded on the club but insisted it will be “a sanity, not vanity project”.Plans for United’s new home were unveiled on Thursdayand showed it would be built 350 metres north-west of the current Old Trafford. The club are about £1.3bn in debt and in March 2025 Omar Berrada, United’s chi

Questions swirl about origins of gifts, loans and donations as even party supporters wonder if it can weather the stormUK politics live – latest updatesWhy is Farage quitting as an MP, only to stand again?Scrutiny is mounting on Reform UK’s finances.On Tuesday, amid an investigation by parliamentary standards into an undisclosed £5m gift, Nigel Farage announced he would resign and trigger a byelection in his constituency of Clacton-on-Sea. Continue reading...

Measures aim to make it easier for victims to gain compensation, with firms such as Bolt and Lime held responsible for damageVictims hit by rental e-scooters on German streets will have an easier time gaining compensation from their operators under legislation due to be passed in parliament that would put the vehicles on a legal footing similar to that of cars.The draft law by the right-left coalition government, which has been welcomed by consumer rights advocates, says that given the

Economists including Jim O’Neill write an open letter calling for a single levy to replace six major taxesProminent economists including Jim O’Neill, an ally of Andy Burnham, are urging the MP for Makerfield to pursue radical tax and spending reform to “unlock the gridlock that plagues the country” when he is confirmed as prime minister.O’Neill joins Jonathan Portes, an economics professor at King’s College London, and Danny Sriskandarajah, the chief executive of the New Economics Foun

Cross-party group backs call last month from science and technology committee to look at alternative optionsA second parliamentary committee has urged Labour to scrap Palantir’s £330m contract with the NHS, increasing pressure on the next prime minister over government deals with the controversial US tech company.MPs on the health and social care select committee want the NHS to cut ties with Palantir and find a replacement for its system, which is supposed to unify and analyse huge am

Business secretary Peter Kyle says asset managers should feel a patriotic duty to make the UK a successBusiness live – latest updatesThe business secretary, Peter Kyle, has warned UK pension funds to “get off their high horses” and invest in Britain or be forced to do so by law.Expressing frustration at the level of investment in British companies after years of government initiatives, Kyle said the UK’s biggest asset managers “should feel a patriotic duty in making Britain a success”.

Airports have had to use gazebos to shield passengers from sun as they wait to be processed, says Alexander ZinellThe boss of 14 Greek airports has called for a serious overhaul of the EU’s new border checks, after being forced to erect gazebos for passengers to cope with queues.The chief executive of Fraport Greece, Alexander Zinell, joined a growing chorus of critics calling out “fundamental flaws” in the entry-exit system (EES), which requires non-EU passengers to have their fingerp

Demonstrations at 18 sites set up as radical transformation plan put to board of Europe’s biggest carmakerVolkswagen’s proposal to slash up to 100,000 jobs and close factories faces a major test on Thursday as formal proposals are put to the supervisory board at Europe’s biggest carmaker, with protests planned at all plants in Germany.IG Metall, the influential staff union, has organised demonstrations involving shop stewards and union council members at 18 sites, including the company