Paramount Skydance makes $108.4bn bid for Warner Bros Discovery, challenging Netflix’s offer – as it happened

Newsflash: Paramount Skydance has launched a hostile takeover offer for Warner Bros Discovery, in an attempt to derail Netflix’s bid for the movie studio and streaming network.Paramount claims that its offer “provides superior value, and a more certain and quicker path to completion to WBD shareholders” than the Netflix offer, which has led to a backlash since it was announced last Friday.Paramount are offering to pay $30.00 per share in cash for Warner Brothers Discovery, which equates to an enterprise value of $108.4bn – ahead of Netflix’s offer which was worth $83bn

Bank of England cutting jobs as part of overhaul after critical Bernanke review

The Bank of England has said it is cutting jobs amid sweeping changes at Threadneedle Street after a highly critical review into its failure to forecast surging inflation.Under budget pressures as it responded to the report from the former US Federal Reserve chair Ben Bernanke, the Bank has opened a voluntary scheme last week as part of an efficiency drive to find savings.The process, which will run until mid-January, with staff expected to leave in March, was first reported by Bloomberg. The Bank said it was “a mutually agreed, time-limited scheme for staff to choose to apply to leave.“We are now implementing a significant, multiyear transformation of our operations and this will condition our decisions

Divided Fed ponders US interest-rate cut at end of tumultuous year

A divided Federal Reserve meets this week to decide whether to cut interest rates, the US central bank’s last meeting before the end of a tumultuous year.The US central bank faces a number of unique challenges as it weighs its latest interest-rate decision.After the six-week government shutdown briefly shuttered the Bureau of Labor Statistics, the federal agency that collects economic data on prices and employment, Fed officials have less data to make their decision.Making matters more complicated is what appears to be growing internal division among the committee’s voting members, who are split on whether there should be a third rate cut before the end of the year. Rates currently sit at a range of 3

Anglo American drops plan to pay bosses millions in bonuses after $50bn Teck merger backlash

London-listed miner Anglo American has dropped plans to award its bosses multimillion-pound bonuses if its planned $50bn mega-merger with a Canadian rival goes through, after a backlash from its investors.The FTSE 100 miner had sought shareholder approval for a plan to award its chief executive, Duncan Wanblad, a share bonus worth £8.5m if the deal to buy Teck Resources to create a copper producing giant was completed.Other senior executives were also incentivised through the plan, which would have updated long-term awards made in 2024 and 2025 to hand them a minimum of 62.5% of share awards when the merger was completed

‘We’ll never be able to rebuild’: despair of ex-Vodafone franchisees and pressures on their mental health

Experiences raise questions about how telecoms firm treated small business owners, whose commission it cutWhen Adrian Howe drowned in August 2018, his family found some solace in the support of his longtime employer.The bond between the 58-year-old and Vodafone – the multinational mobile phone group for which Howe had worked for 20 years – was so tight that his funeral featured a wreath shaped like the company’s speech mark brand.Meanwhile, his widow was paid the equivalent of a death-in-service benefit, even though Howe had left the company weeks earlier. “I was reassured that Dad would be ‘reinstated’ back into Vodafone as if he had never actually left,” recalls daughter Kirsty-Anne Holmes. “He had [left] in order to open [Vodafone] stores as a franchise

Extracting hangovers from beer: inside Budweiser owner’s ‘nolo’ brewery in south Wales

A “de-alcoholisation facility” sounds like somewhere to check in after a boozy Christmas, but in the new annexe of a brewery in south Wales they are extracting hangovers from beer.With demand for no-alcohol and low-alcohol (“nolo”) beer taking off in the UK, the hi-tech brewing apparatus enables the plant at Magor, which produces more than 1bn pints of Budweiser, Corona and Stella Artois a year, to make the increasingly popular teetotal versions too.The new unit is part of AB InBev’s global brewing empire and at its official opening on Friday, Brian Perkins, whose wider management responsibilities include running the drinks group’s UK arm, acknowledged that in the early days alcohol-free beer tasted “lousy”.Alcohol gives beer a sweet, warming, full-bodied taste, as well as affecting how other flavour compounds evaporate, resulting in its distinctive flavour. So removing it and being left with a drink that still tastes good has been a huge challenge for the industry

‘Zombie’ electricity projects in Britain face axe to ease quicker grid connections

Britain’s energy system operator is pulling the plug on hundreds of electricity generation projects to clear a huge backlog that is stopping “shovel-ready” schemes from connecting to the power grid.Developers will be told on Monday whether their plans will be dismissed by the National Energy System Operator (Neso) – or whether they will be prioritised to connect by either the end of the decade or 2035.More than half of the energy projects in the queue will be removed to make way for about £40bn-worth of schemes considered the most likely to help meet the government’s goal to build a virtually zero-carbon power system by 2030.The milestone marks the end of a two-year process to clear the gridlock of laggard “zombie” projects awaiting connection that meant many workable proposals were facing a 15-year wait to plug into Britain’s transmission lines.Ed Miliband, the energy secretary, said: “We inherited a broken system where zombie projects were allowed to hold up grid connections for viable projects that will bring investment, jobs and economic growth

Keir Starmer to make Iceland boss Richard Walker a Labour peer

The formerly Conservative-supporting boss of the supermarket Iceland is to be made a Labour peer when the party appoints another 25 representatives to parliament’s upper house later this month.Keir Starmer will appoint Richard Walker to the House of Lords, the Guardian understands, the culmination of an unusual and rapid political transformation for someone named as a prospective Tory MP candidate a little over three years ago.It was only February this year when Iceland’s executive chair was rating Starmer’s government six out of 10, saying that Labour needed to focus on “inclusive growth and everyday growth” that could “trickle down in everyday people’s lives”.As a Labour peer, Walker will get the chance to push for policies close to his heart including closer relations with the EU and also for a more positive message on the economy.He took over the leadership of Iceland in 2023 after his father, Malcolm Walker, stepped down from the frozen foods chain he had founded in 1973

Bill Kingdom obituary

My husband, Bill Kingdom, who has died aged 69, was a global leader in water supply and sanitation. He worked for 20 years with the World Bank, based in Washington DC from 1999 to 2019, where he led urban and rural water supply and sanitation projects. He developed innovative financial and governance frameworks in south and east Asia, southern Africa, and the Middle East. His work provided access to clean and affordable water for some of the poorest people in the world.Bill’s early career was with Mott MacDonald, the engineering consultants based in Cambridge, from 1978 to 1986

Let it be: Paul McCartney urges EU to drop ban on veggie ‘burgers’ and ‘sausages’

Paul McCartney has joined calls for the EU to reject efforts to ban the use of terms such as “sausage” and “burger” for vegetarian foods.The former Beatle has joined eight British MPs who have written to the European Commission arguing that a ban approved in October by the European parliament would address a nonexistent problem while slowing progress on climate goals.The new rules would spell the end the use of terms such as steak, burger, sausage or escalope when referring to products made of vegetables or plant-based proteins. Suggested alternatives include the less appetising “discs” or “tubes”.McCartney said: “To stipulate that burgers and sausages are ‘plant-based’, ‘vegetarian’ or ‘vegan’ should be enough for sensible people to understand what they are eating

Forcing UK banks to support credit unions would help keep loan sharks at bay | Heather Stewart

Nikhil Rathi, chief executive of the Financial Conduct Authority, made a pilgrimage on Friday from its glass and steel HQ in east London to the Pioneers Museum in Rochdale – the spiritual home of the co-operative movement.His unlikely day trip aimed to highlight the City watchdog’s role in opening the way to a doubling of the size of the mutuals sector – a Labour manifesto pledge.Among these customer- or worker-owned organisations, including huge companies such as John Lewis and Nationwide building society, are the 350 credit unions.These are locally based lenders whose interest rates are capped by law and whose clients tend to include the low-income consumers left behind by the big banks. Holding assets of £4

The K-shaped Christmas: wealthy few drive holiday spending splurge while many struggle to get by

A soaring stock market rewards the already well-off but Trump’s handling of the economy has caused his approval ratings to plungeEntering Printemps in downtown New York City feels like an escape. A slight smell of musk hangs in the air as shoppers weave carefully around racks of coats and shelves of handbags and shoes. For the holidays, the store set up a small ice rink on its second floor where skaters perform on weekends.The French luxury retail emporium opened its first New York outlet earlier this year and has said it wants shoppers to feel so comfortable that it feels like their own chic “French apartment”. The store has a bar upstairs, along with a roving champagne cart, and encourages shoppers to sip on their drinks while they browse

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

Chocolate tart and zabaglione: Angela Hartnett’s easy make-ahead Christmas desserts – recipes

When you’re the cook of the house, you spend quite enough time in the kitchen on Christmas Day as it is. And, after those time-consuming nibbles, the smoked salmon starter and the turkey-with-all-the-trimmings main event, the last thing you want is a pudding that demands even more hands-on time at the culinary coalface. For me, the main requirement of any Christmas dessert is that it can be made well in advance, not least because, by the time the pudding stage comes around, I’ll be completely knackered and more than ready to put up my feet and finally relax (or, more likely, fall asleep on the sofa).Prep 15 minRest 3 hr+Cook 40 minServes 6-8For the sweet pastry500g plain flour, plus extra for dusting 150g caster sugar 250g cold butter, diced2-3 eggs, lightly beatenFor the filling640g 70%-cocoa dark chocolate, broken into small pieces800ml double cream 64g glucose syrup 64g cold butter, cubed 100g roasted hazelnuts, lightly choppedPut the flour and sugar in a large bowl, stir to combine, then add the diced butter and work it in with your fingertips until the mix takes on the consistency of rough breadcrumbs. Add two of the beaten eggs, then mix until the dough comes together into a ball; if need be, add the third beaten egg, but take great care not to overwork the dough

I called my recipe book Sabzi – vegetables. But the name was trademarked. And my legal ordeal began

Vegetables, in my experience, rarely cause controversy. Yet last month I found myself in the middle of a legal storm over who gets to own the word sabzi – the Hindi, Urdu, Punjabi, Persian, Dari and Pashto word for cooked veg or fresh greens. It was a story as absurd as it was stressful, a chain of delis threatened me with legal action over the title of a book I had spent years creating. But what began as a personal legal headache soon morphed into something bigger, a story about how power and privilege still dominate conversations about cultural ownership in the UK.When the email first landed in my inbox, I assumed it must be a wind-up

Goodbye avocado, hello ssamjang: here is the new posh nosh

Name: Posh nosh.Age: We’re talking new food trends here, so – new.Avocado? Hummus? Old news, keep up!Who with? The Joneses? Only if you make that “with whom”, and if the Joneses shop at Waitrose. Every year the famously upmarket supermarket publishes a report that gives some indication of middle-class eating trends.And? No one’s talking about avocados or hummus any more

Choice taste test: the best Australian supermarket Christmas ham is also ‘one of the cheapest’

Consumer advocacy group Choice has found when it comes to supermarket Christmas hams, pork price is not necessarily an indicator of quality.In a blind taste test of 12 Christmas hams from Aldi, Coles, IGA and Woolworths, the best and worst-ranked pork products retail at almost identical prices.The best-scoring product was the Coles Christmas Beechwood Smoked Half Leg Ham, with a price per unit of $8/kg. Judges awarded it a score of 80% and described it as a “good overall ham” for its “mild but pleasant” aroma with “a nice balance between sweet and smoky flavours”.The worst-performing product, the Aldi Festive Selection Australian Half Leg Ham On-The-Bone, is similarly priced at $7

How to turn excess nuts and seeds into a barnstoming festive pudding – recipe | Waste not

Last Christmas we visited my in-laws in Cape Town, where, at over 30C, a traditional Christmas pudding just didn’t feel quite right. But my mother-in-law and her friend created the most delicious feast: a South African braai (barbecue) followed by an incredible ice-cream Christmas pudding made by mashing vanilla ice-cream with a mix of tutti frutti, candied peel, raisins and cherries. This semifreddo is a take on that dessert: a light frozen custard that still carries all the festive flavours.Tutti frutti semifreddo Christmas puddingWe stopped using clingfilm in our kitchen 15 years ago now, because it’s not easily recycled and because of health concerns about the possible transfer of microplastics into our food. Most semifreddo recipes tell you to line the freezer container with clingfilm, but I suggest using no liner at all, or silicone-free, unbleached baking paper instead

The great Christmas taste test: I tried seven fast food offerings. Which will make me feel festive?

From a cranberry katsu curry to a dozen thickly glazed doughnuts, the biggest chains are getting Christmassy. I found out which seasonal meals will leave you carolling and carousing – and which will leave you coldBy now, most major fast food outlets will have launched their festive special. There is no established framework for what “festive” means, and no recognised metrics of Christmassyness. It could be indicated by a lurid green/angry red colour in a place you’re not expecting it (McDonald’s Grumble Pie, I’m looking at you); or an existing thing, made into a more seasonal shape, or the introduction of a quintessential Christmas ingredient, such as a brussels sprout (though seriously, food giants, get over yourself if you think it’s cinnamon – this is an autumn spice).I am not here to critique the essentials of fast food (I love it)

Party starters: Jacob Kenedy’s Italian Christmas canapes – recipes

Three Italian light bites to get you started on the big day: pinzimonio crudites, chilled prawns with boozy mayo, and a delicate frittata that you can stud with artichoke, radicchio or celeryI am evolving as a host, and coming to realise that those rich dishes that crown our festive tables shine brightest when surrounded by contrasting and lighter bites – before, around and after, rather than just on the day itself. I do enjoy angels and devils on horseback, devilled eggs, little sausages wrapped in bacon, mince tarts crowned with goose liver, fried breads and cheesy pizzette, buffalo wings, paté en croute, crab beignets, oysters Rockefeller, shrimp tostadas and rich tamales, but, for the most part, I save these for the parties earlier in December. For Christmas day itself, I start with lighter bites, as better preparation for the rich meal ahead. A trio of dainty, grazing canapes served alongside sparkling Alta Langa …My grandmother, Ginny, knew how to entertain. She would spike her mayonnaise with brandy, and so do I – at home and at my restaurant Plaquemine Lock

Australian supermarket sorbet taste test: is this the most enjoyable taste test yet?

After blind-tasting more than a dozen supermarket sorbets, Nicholas Jordan and friends award a rare nine out of 10 score to a magical iced confectionIf you value our independent journalism, we hope you’ll consider supporting us todayGet our weekend culture and lifestyle emailThe only bad sorbet I’ve ever had was made by me. If it wasn’t for that syrupy pineapple-flavoured stack of ice shards, I don’t think I’d be able to imagine the characteristics. What’s a bad version of winning the lottery? You’d only know when it happens.To make a bad sorbet you need to be inept or cheap. But supermarkets distribute the cheapest foods on earth and usually the range in quality is hellish to “huh, pretty good”