Green biotech firms to open factories at Grangemouth; Oracle shares tumble 15% after results disappoint – as it happened

Two green biotechnology firms have announced they will build new factories at Scotland’s Grangemouth site which will employ up to 460 people, in the first phase of projects to replace hundreds of jobs lost when the PetroIneos refinery closed down.The projects by MiAlgae, a start-up based in Edinburgh which uses whisky waste to make fish-free Omega 3 oils, and Celtic Renewables, which uses whisky and agricultural byproducts to make chemicals, have won £10m in funding from the Scottish and UK governments to build new plants at Grangemouth.MiAlgae’s founder and chief executive Douglas Martin said their Omega 3 plant would start production in the second quarter of 2026, employing 75 people. It uses whisky wash, a byproduct, of whisky production to produce plant-based Omega 3 for pet food and fish farm feed.Martin said their modular plant, which has been given £3m by the UK and Scottish governments, can be rapidly expanded to eventually create up to 310 jobs

US is the best place for drug companies to invest, says boss of London-based GSK

The chief executive of GSK has declared that the US is the best place for pharmaceutical companies to invest.Emma Walmsley said the US led the world in launches of drugs and vaccines and, alongside China, was the best market for business development.She is the latest boss of a leading UK drugmaker to talk up business opportunities on the other side of the Atlantic, after AstraZeneca’s Pascal Soriot hailed the “vital importance of the US”.The UK government, which has been trying to strengthen the pharmaceutical sector, confirmed on Wednesday that the proportion of revenues from new medicine sales that companies need to pay back to the NHS would fall next year – from 22.5% to under 15%

Disney to invest $1bn in OpenAI, allowing characters in Sora video tool

Walt Disney has announced a $1bn equity investment in OpenAI, enabling the AI startup’s Sora video generation tool to use its characters.Users of Sora will be able to generate short, user-prompted social videos that draw on more than 200 Disney, Marvel, Pixar and Star Wars characters as part of a three-year licensing agreement between OpenAI and the entertainment giant.The agreement – a landmark deal amid intense anxiety in Hollywood over the impact of artificial intelligence on the future of entertainment – will not cover talent likenesses or voices.Bob Iger, Disney’s CEO, hailed a deal which paired his firm’s “iconic stories and characters” with OpenAI’s AI technology. It will place “imagination and creativity directly into the hands of Disney fans in ways we’ve never seen before”, he claimed

EU watchdogs raid Temu’s Dublin HQ in foreign subsidy investigation

Temu’s European headquarters in Dublin have been raided by EU regulators investigating a potential breach of foreign subsidy regulations.The Chinese online retailer, which is already in the European Commission’s spotlight over alleged failures to prevent illegal content being sold on its app and website, was raided last week without warning or any subsequent publicity.“We can confirm that the commission has carried out an unannounced inspection at the premises of a company active in the e-commerce sector in the EU, under the foreign subsidies regulation,” a commission spokesperson said on Thursday.Temu was approached for comment.Its headquarters are on St Stephen’s Green, one of Dublin’s most prestigious addresses

No guarantee tobacco tax cut would lure Australian smokers from illegal trade and raise more revenue, report says

Slashing the tobacco excise might not be enough to lure smokers back to legal cigarettes and could even widen the multibillion-dollar hole blown in the budget by the booming illicit trade, new research shows.The analysis from the e61 Institute comes as Jim Chalmers revealed next week’s midyear fiscal update will reveal an extra $12.7bn in unanticipated spending, including an additional $6.3bn in higher than expected disaster relief payments.The treasurer said “the biggest job … has been making room for unavoidable pressures and payments without a substantial deterioration in the bottom line”

Fed cuts interest rates by a quarter point amid apparent split over US economy

The US Federal Reserve announced on Wednesday that it was cutting interest rates by a quarter point for the third time this year, as the embattled central bank appeared split over how best to manage the US economy.The Fed chair, Jerome Powell, has emphasized unity within the Federal Open Market Committee (FOMC), the board of Fed leaders that sets interest rates. But the nine-to-three vote to lower rates to a range of 3.5% to 3.75% was divisive among the committee that tends to vote in unanimity

Leon to cut jobs and close fast food restaurants

Fast food chain Leon is planning to close restaurants and cut jobs, less than two months after it was bought back from Asda by its co-founder John Vincent.The chain said on Wednesday that it had appointed administrators to lead a restructuring programme, and it was considering how many of its 54 restaurants would need to shut. It did not say how many roles could be affected.Vincent, who founded Leon in 2004 with Henry Dimbleby, who later became a government food tsar, and chef Allegra McEvedy, bought the business back in October, four years after he sold it to the billionaire Issa brothers’ EG Group petrol forecourts business in a £100m deal.The chain has now hired advisers from Quantuma after applying for an administration order, and aims to put the business into administration as soon as possible, a process which will help it to manage debt payments as it attempts to secure its long-term future

Evoke considers sale or break-up after budget tax hikes; SpaceX aims for $1.7tn valuation – as it happened

Just in: UK gambling company Evoke is considering breaking itself up, following the tax rises announced in last month’s budget.Evoke, the firm behind William Hill, 888, and Mr Green, has told the City it has decided to review its strategic options.This will include “the consideration of a range of potential alternatives to maximise shareholder value, including, but not limited to a potential sale of the Group, or some of the Company’s assets and/or business units,” it explains.Evoke says the move is “further to the Company’s announcement on 26 November 2026”, in which Evoke predicted that the rise in gambling duties announced by chancellor Rachel Reeves – including almost doubling the UK’s Remote Gaming Duty from 21% to 40% – would cost it £135m.Before the budget, the company claimed it could close up to 200 betting shops if Reeves raises taxes on the gambling sector

No wonder Michele Bullock’s dramatic departure from the interest rate script left markets swinging wildly | Greg Jericho

The statements on Tuesday by the governor of the Reserve Bank, Michele Bullock, sent markets into a tizz, but even while she suggested rate cuts are now off the table, there’s no reason to think Australia’s economy needs to cool.Usually when the Reserve Bank leaves rates on hold, little happens. But on Tuesday when the RBA monetary policy board announced the cash rates staying at 3.6%, the markets all got a bit spooked.First off, the statement released was a rather big change from the usual

‘What to buy Dad for Christmas’: is retail ready for the AI shopping shift?

Christmas shopping – some love it, to others it’s a chore, and this year for the first time many of us will outsource the annual task of coming up with gift ideas to artificial intelligence.While traditional internet search, social media – especially TikTok and Instagram – and simply wandering a local high street will still be the main routes to presents for most this year, about a quarter of people in the UK are already using AI to find the right products, according to PricewaterhouseCoopers.For brands appealing to younger people, the revolution is well under way: the rival advisory firm KPMG says as many as 30% of shoppers aged 25-34 are using AI to find products, compared with 1% of those aged over 65.Asking a large language model (LLM) such as ChatGPT or Gemini what you should get your father-in-law – rather than typing “whisky” or “socks” into Google or DuckDuckGo – may seem a small change in habits. However, it marks a sea change for retailers accustomed to paying search engines to promote their listings

Travel firm Tui says it is using AI to create ‘inspirational’ videos

Tui, Europe’s biggest travel operator, has said it is investing heavily in AI as more people turn to ChatGPT to help book their holidays, including using the technology to create “inspirational” videos and content.The chief executive, Sebastian Ebel, said the company was investing in generative engine optimisation (GEO), the latest incarnation of search engine optimisation (SEO), to help push Tui to the top of results from AI chatbots including ChatGPT and Gemini.While traditional SEO relies on links and keywords to increase visibility in search engine results, GEO tries to increase recommendations via chatbots by ensuring a product is mentioned in the message boards, videos and other online datasets that the AI agents crunch to produce their answers.Ebel said connecting to large language models and social media companies would help Tui to grow. “By being part of their ecosystem, not depending on Google alone any more, [we are] going into the space where our customer is,” he said

US senator calls for insider trading inquiry over Trump donors buying $12m worth of shares

A senior Democratic senator is calling for an investigation into potential insider trading by fossil-fuel billionaires close to the Trump administration, after a Guardian investigation raised questions about an unusual share buying spree.Robert Pender and Michael Sabel, the founders and co-chairs of Venture Global, a liquefied natural gas (LNG) company headquartered in Virginia, bought more than a million shares worth almost $12m each, just days after meeting with senior Trump officials in March.The meeting included Chris Wright, the energy secretary, who days later granted the company an export license essential for its expansion plans in Europe, the Guardian reported last week.“Dirty oil and gas bucks are fueling the Trump administration, which should outrage all of us. This latest reporting portrays a pattern of pay-to-play donations and favorable actions by the administration,” said Jeff Merkley, senator for Oregon and senior member of the Senate appropriations and budget committees

How to use a spent tea bag to make a boozy, fruity treat – recipe | Waste not

Save a used teabag to flavour dried fruit, then just add whisky for a boozy festive treatA jar of tea-soaked prunes with a cheeky splash of whisky is the gift you never knew you needed. Sticky, sweet and complex, these boozy treats are wonderful spooned over rice pudding, porridge, yoghurt, ice-cream or even panna cotta.Don’t waste a fresh tea bag, though – enjoy a cuppa first, then use the spent one to infuse the prunes overnight. Earl grey adds fragrant, citrus notes, builders’ tea gives a malty depth, lapsang souchong brings smokiness, and chamomile or rooibos offer softer, floral tones. It’s also worth experimenting with other dried fruits beyond prunes: apricots, figs and/or dates all work beautifully, too

Christmas food gifts: Gurdeep Loyal’s recipes for Mexican-spiced brittle and savoury pinwheels

Edible Christmas gifts are a great excuse to get experimental with global flavours. For spice lovers, this moreish Mexican brittle, which is inspired by salsa macha (a delicious chilli-crunch), is sweet, salty, smoky, crunchy and has hints of anise. Then, for savoury lovers, some cheesy pinwheel cookies enlivened with XO sauce. XO is a deeply umami condiment from Hong Kong made from dried seafood, salty ham, chilli and spices. Paired with tangy manchego, it adds a funky kick to these crumbly biscuits

Festive treats: Adriann Ramirez’s recipes for pumpkin loaf and gingerbread cookies

As a self-proclaimed America’s sweetheart (Julia Roberts isn’t using that title any more, is she?) who moved to the UK nearly 10 years ago, there are a few British traditions and customs that I have adopted, especially around Christmas time. However, there are also a few American ones that I hold on to staunchly: one is the pronunciation of “aluminum”, and another is the importance and beauty of a soft cookie. In both of these easy but delicious bakes to share, I use spice and heat to balance the usual sweetness with which the season can often overload us.Prep 5 min Chill 1 hr Cook 50 min, plus cooling Makes 10-12520g plain flour, plus extra for dusting 8g cocoa powder 8g ground ginger 3g ground cloves 5g ground cinnamon 3g aleppo pepper 4g coarsely ground black pepper 7g table salt 3g bicarbonate of soda 225g soft unsalted butter 175g caster sugar 1 large egg (60g) 77g treacle 77g pomegranate molasses 40g golden syrupFor the icing120g icing sugar 30g waterWhisk the first nine ingredients in a bowl and set aside. Either in the bowl of a stand mixer or using a handheld mixer, beat the butter for a few minutes until light and creamy

Nutcracker stocking fillers: Brian Levy’s recipe for sugar plum and coffee cookies | The sweet spot

These festive cookies are inspired by The Nutcracker’s Land of Sweets sequence, in which coffee and sugar plums are two of the flavours used to conjure a fanciful world of decadent diversion. Anything from a hard candy to a candied fruit can qualify as a “sugar plum” and, in the case of these cookies, the sugar plum is represented by the amarena cherry. Coffee’s bitterness balances the sweetness of the fruit and the rich butteriness of the dough, while the oat flour adds a dash of shortbread-like delicateness.Prep 10 min Chill 30 min+ Cook 35 min, plus cooling Makes 36185g room-temperature butter75g sugar2 tsp instant coffee/espresso powder1 tsp unsweetened cocoa powderFinely grated zest of ½ lemon½ tsp vanilla extract⅛ tsp fine salt 180g plain flour 85g oat flour 36 amarena cherries in syrupTurbinado sugar, or pearl sugar or icing sugar, for dippingIn the bowl of a stand mixer fitted with the paddle attachment, beat the butter, sugar, coffee powder, cocoa, lemon zest, vanilla and salt, at first on low and then medium speed, until creamy and fluffy.Add both flours and beat just until combined with no dry flour remaining; don’t overbeat because this can toughen the texture

How to make the perfect Dubai chocolate bar - recipe | Felicity Cloake's How to make the perfect …

If you’re asking what on earth chocolate has to do with a city with an average annual temperature of 28C, then you must have been stuck in the desert for the past three years. Because, since its creation in the UAE in 2022, apparently to satisfy chocolatier Sarah Hamouda’s pregnancy cravings for pistachio and pastry, this bar has taken over the world. Though food (among those with the luxury of choice, at least) has never been immune to the absurdities of fashion, the internet has supercharged and globalised the process, so much so that pistachios, which back in January were dubbed “the new pumpkin spice” by this very newspaper, are now everywhere, from Starbucks lattes to Aldi mince pies.The thing is, however, that whatever your thoughts on green, sugary, coffee-adjacent beverages, Hamouda’s Dubai chocolate developed for Fix Dessert Chocolatier has triumphed, because it really does taste as good as it looks: crunchy pastry, sweet chocolate and rich, slightly savoury nut butter are an incredibly satisfying combination, so a big bar of it is guaranteed to impress under the Christmas tree. Experience demands that I suggest you wrap it in a pet-proof box, however – emergency vet bills are no one’s idea of a great present

The ultimate unsung superfood: 17 delicious ways with cabbage – from kimchi to pasta to peanut butter noodles

Over the last 50 years, cabbage consumption in Britain has declined 80%. But it’s versatile, full of vitamins, and perfect on a winter night. Here’s how to make the most of itIt’s not good news: despite a lot of messaging about healthy eating, Britons consume 12% less vegetables per week than they did in 1974, when the government’s Family Food survey began. And while the consumption of some specific vegetables – courgettes, say – has risen over the past 50 years, others have experienced a sharp decline. Among the biggest losers is cabbage

Christmas dinner in a restaurant or kitchen carnage at home?

Christmas dinner? At home or in a restaurant? It’s at this juncture of the year, with Christmas dinner hurtling towards us, that you may well find yourself muttering: “Well, we could always go out!” Who could blame any home cook for wanting to shove this great burden on to someone else’s back, especially since every culinary TV show, magazine article and advertising break since mid-November has hammered home what a colossal faff Christmas dinner actually is. No, it’s not just a slightly posh Sunday roast with a few more guests.Christmas dinner in the UK these days is more like a cross between dinner at Balmoral and 4 July at Mar-a-Lago. The table has to be heaving with holly-embossed crockery, the carrots must be bejewelled in star anise and Himalayan pink pepper, the turkey has to be brined in aromatic salt water and your roasties shaken in polenta and smothered in duck fat. If you’re the designated martyr organising proceedings, field-marshalling everything and cooking this tinsel-strewn palaver, it is common to try instead to divert it all to the local pub, where they’re doing “turkey and all the trimmings” for £79 a head (and including a cracker and a pre-dinner “glass of something sparkly”)

Christmas mixers: Thomasina Miers’ recipes for fire cider and spiced cocktail syrup

Despite being known for shaking a cocktail on Instagram now and again, very little will induce me to last-minute cocktailery if I am entertaining a serious number of guests. However, a good drinks recipe that you can prep in advance is a lovely thing to dazzle your friends with and to gift over Christmas. With or without alcohol, this pair look good and taste delicious, and should help everyone ease into the December festivities.This makes a delicious base to which you can add soda, juice, tonic or any other mixer for a thirst-quenching and delicious alternative to an alcoholic drink in the evening. Prep 15 minInfuse 1 week+ Makes 500ml bottleFor the fire cider2 jalapeños, finely sliced seeds and all1 large thumb of ginger, peeled and finely sliced2 branches fresh rosemary1 cinnamon stick3 heaped tbsp honey2 garlic cloves, peeled1 thumb turmeric, peeled and finely sliced (optional)350ml apple cider vinegarFor the cranberry fizz (serves 1)30ml fire cider 75ml cranberry juice1 wedge of orange Sparkling water, to topMix all the ingredients for the fire cider in a sterilised 500ml jar, then put in the fridge for at least week, and preferably three to extract the most goodness from the ingredients

Jamie Oliver to relaunch Italian restaurant chain in UK six years after collapse

Jamie Oliver is to revive his Jamie’s Italian restaurant chain in the UK, more than six years after the celebrity chef’s brand collapsed.Jamie’s Italian is poised to be relaunched in the spring, starting with a restaurant in London’s Leicester Square.Oliver’s return to the UK restaurant scene is being backed by Brava Hospitality Group – the private equity-backed group that runs the Prezzo chain – which intends to relaunch the brand across the UK.“As a chef, having the chance to return to the high street is incredibly important to me,” he said. “I will drive the menus, make sure the sourcing is right, the staff training, and ensure the look and feel of the restaurant is brought to life in the right way

Maximum protein, minimal carbs: why gym bros are flocking to Australia’s charcoal chicken shops

From El Jannah’s webpage dedicated to ‘health-conscious individuals’ to Habibi Chicken’s ‘Gym Bro’ pack, businesses are catering to the post-leg day crowdGet our weekend culture and lifestyle emailPopularised in Australia by Balkan and Lebanese immigrants, charcoal chicken has long been part of our comfort-food canon. But recently, the humble chicken shop has had a renaissance – driven by fresh takes on the classics, the expansion of longstanding chains and a surge of protein-conscious gym goers.In June, charcoal chicken chain El Jannah, which has more than 50 stores, launched a page on its website dedicated to protein and macros – complete with recommendations for the best post-leg day order – a clear nod to the fitness crowd.In Wagga Wagga, Habibi Chicken has a “Gym Bro” pack – a half or quarter chicken, tabbouleh, pita and toum, no chips. Co-owner Mariam Rehman says it’s a top seller, designed to maximise protein and reduce carbs

Helen Goh’s recipe for edible Christmas baubles | The sweet spot

These edible baubles make a joyful addition to the Christmas table or tree. Soft, chewy, marshmallow-coated Rice Krispies are studded with pistachios and cranberries, chocolate and ginger, or peppermint candy cane; they’re as fun to make as they are to eat, and they make a perfect little gift. To add a ribbon for hanging, cut small lengths of ribbon, then loop and knot the ends. Push the knotted end gently into the top of each ball while it’s still pliable, then reshape around it, so it holds the knot securely as it sets. Alternatively, wrap each bauble in cellophane, then gather at the top and tie with a ribbon, leaving a long loop for hanging

A gentle trade in edible gifts binds communities together

A guest at our restaurant recently told me about her mother’s seasonal side hustle, though no one would have dared call it that out loud: in the weeks before Christmas, she became a quiet merchant of puddings. The proper kind of pudding, too: all dense but not leaden, heavy with prunes and warm with careful spicing.As December crept in, forgotten cousins and semi-estranged uncles seemed to find reasons to drop by her place. She never advertised the fact, of course, but everyone knew that if you came bearing even a modest offering, you might just leave with a pudding wrapped in waxed paper and still warm with possibility. The exchanges were subtle