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Britain’s PM-in-waiting is right that the country has been failed by 40 years of neoliberalism. There will be obstacles, but he must embrace radicalism Of all the many prime ministers who have walked through the doors of 10 Downing Street in the past decade, the one Andy Burnham resembles most is Liz Truss. Both had a view of what was going wrong with the economy. Both wanted to break with the politics of managed decline. Both had ambitious ideas for what needed to be done.Truss, of co

Unesco report shows children lost out to servicing debt in 113 countries, with 18 spending five times more on loansMost developing countries spent less on education than they did repaying debt last year, according to the UN, at the same time as global aid to education is predicted to decline by up to 30%.More was spent on servicing foreign debt than on education in 113 developing countries in 2025, according to research by the UN’s culture and education agency, Unesco. In sub-Saharan A

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

People in Thornton-Cleveleys want answers on the impact of widespread contamination around the chemical plant“Everything I wanted was finally coming to fruition. A house, a change of job and getting married,” says Liz Hurst, looking out to sea on a hot evening in Blackpool.“But then all of a sudden, everything was put on hold.” Fifteen years ago, Hurst was diagnosed with kidney cancer aged 32. Continue reading...

SK hynix, a supplier of advanced memory chips, has seen profits skyrocket thanks to the global race to build AI datacentresSouth Korean chip maker SK hynix set pricing for its mega US listing on Friday, aiming to raise $26.5bn as it takes advantage of the AI boom in what will be one of the world’s biggest ever stock sales.The Asian semiconductor giant plans to issue the equivalent of about 18m shares on Wall Street’s tech-heavy Nasdaq index later in the day. Continue reading...

Exclusive: Plan to improve skills of thousands of financial sector workers to keep pace with tech revolutionChancellor Rachel Reeves is to announce a new City “skills compact” that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution.The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves’s final Mansion House speech to City bosses before Andy Burnham’s expected takeover of

The High Pay Centre revealed the excesses of CEO wages. But then anti-diversity winds blew in from across the AtlanticShock ricocheted around the world of social research this week with the sudden news of the imminent closure of the High Pay Centre (HPC). Founded in 2011 by the former Guardian business editor Deborah Hargreaves to focus on analysis of extreme pay at the top and the widening pay gap between CEOs and their average employees, its closure feels like the death of an idea.Ot

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...

Newly minted rich and those anticipating huge IPOs are fueling buying and charter spree in the private jet sectorSign up for the Breaking News US newsletter email Aviation lawyer Amanda Applegate skipped her annual vacation last month as a surge of wealth from AI startups and SpaceX sent a wave of tech investors shopping for private jets, ⁠burying her in paperwork for aircraft-purchase agreements.The ⁠attorney, based in Cleveland, Ohio, attributed the rush to a handful ​of major “liqui

George Cottrell’s mother, Fiona, at centre of criminal inquiry over potential evasion of restrictions on donationsPolice are investigating donations worth £500,000 made to Reform UK by the mother of a convicted fraudster and ally of Nigel Farage.The investigation concerns two donations of £250,000 made by Fiona Cottrell, whose son George has often accompanied Farage to Reform events and media appearances. The May 2024 donations are under investigation over whether they were intended to

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

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