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Thinktank urges prospective prime minister to reclaim UK’s role as an international leader on developmentInfluential backbenchers are calling on Andy Burnham to reclaim Labour’s leadership on international development and chart a course back to spending 0.7% of national income on overseas aid.In a collection of essays to be published soon by the New Economics Foundation (NEF) thinktank, MPs lay out proposals for a Burnham-led government to rethink foreign policy. Continue reading...

Plans specify tolls must not be compulsory, as US officials urge Iran to make public statement that strait is open and that shipping can safely passEurope is studying proposals that may allow the charging of navigational fees in the strait of Hormuz so long as the tolls are not compulsory and have the support of the UN agency that regulates maritime transport.Britain’s deputy prime minister, David Lammy, said the imposition of compulsory tolls would be disastrous. But some of his cabin

Exclusive: Move comes as allies of Andy Burnham work on proposals to take water companies into public controlMinisters are drawing up plans to set legally binding debt targets for England’s water companies as they look for ways to avoid another corporate failure such as Thames Water.Sources say Emma Reynolds, the environment secretary, is working on proposals that would force companies to keep their debt below certain levels for the first time or face legal punishment. Continue reading

Rolling coverage of the latest economic and financial newsThe sudden appearance of Apollo on the scene follows multiple rounds of talks between easyJet and Castlelake. EasyJet had told investors earlier this week that it had reached an agreement in principle with the firm at £6.90 per share. Apollo has said today regarding its chunkier offer:EasyJet management’s operational and commercial ambitions can be substantially accelerated via the access to incremental capital and longer-term b

Ministers consider bringing e-cigarette laws in line with tobacco as data shows 20% of teenagers have tried vapingVapes could be sold in plain packaging as part of a range of proposals to stop them being marketed to children.The UK-wide plans also include limiting device colours to white, black or grey, and keeping vapes out of sight in shops, according to the Department of Health and Social Care. Continue reading...

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

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

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

Whenever major reform is proposed the media, big business and Westminster quickly conclude it’s too expensive and disruptive. This doesn’t bode well for Andy BurnhamIn an old, often anxious and conservative country, the perception of risk is a potent political weapon. If a policy or a project for reforming the UK seems too risky, or can be made to seem so by its opponents, then it can usually be quickly killed off. It can be added to the pile of possible futures that never occurred.In

Ministers also considering licence requirement and regulator to try to cut bills and increase choice UK vets may have to have a licence and cap prescriptions for pet medicine at £21 under plans being considered by the government.Ministers are also considering establishing a regulator for the veterinary sector, including inspections, a mandatory licensing system and published compliance reports to improve accountability and choice. Every vet practice could need an official operating lic

The company’s target to hit £1bn profitability is intact. Why isn’t the board putting up a proper fight?Some foreign takeover swoops on UK listed companies are easier to swallow than others. Sometimes it is hard to mount an argument that shareholders should stick to the virtuous path of independence and say no to an offer of hard cash at a fat premium. The current £10bn bid for Intertek, the FTSE 100 product testing and quality inspection firm that had been going sideways for a while,