Reeves defends Grangemouth intervention; Warner Bros urges investors to reject $108bn Paramount bid – as it happened

The UK chancellor has said that the case for intervening to save the Ineos chemical plant in Grangemouth was “compelling”.The government is investing £120m to save the UK’s last ethylene plant at Grangemouth, in a deal expected to protect more than 500 jobs.Rachel Reeves talked of a “genuine partnership” and said the government had been in discussions “over the last few weeks and months”. She vowed to protect British industry, and said this was vital for Britain’s national security.Visiting Grangemouth in Scotland with Peter Kyle, the business secretary, Reeves said:There are loads of things that government can’t do, but there are also some things that business can’t do, and that is why you need a partnership, and indeed, with the workers and the trade unions to be able to have a sort of sustainable model for the future

The stats don’t lie. Australia’s tax system is designed to benefit the wealthiest and the rest of us pay for it | Greg Jericho

New figures from the Australian Bureau of Statistics reveal just how much an average Australian earns. Being “rich” might not see you living like a Kardashian, but we need to acknowledge that earning more than 90% of people puts you in the top 10%, and that much of the tax system is geared to benefit you.Asking who is rich is a question that can send shivers down the spines of politicians.I’ve encountered more than a few progressives who are at pains to protest that they are not rich despite being on a very good wicket. They immediately reel off their CV of working-class roots as though they are worried someone is about to accuse them they came from Greece with a thirst for knowledge

Hackers access Pornhub’s premium users’ viewing habits and search history

Hackers have accessed the search history and viewing habits of premium users of Pornhub, one of the world’s most popular pornography websites.A gang has reportedly accessed more than 200m data records, including premium members’ email addresses, search and viewing activities and locations. Pornhub is a heavily used site and says it has more than 100m daily visits globally.The hack was reportedly carried out by a western-based group called ShinyHunters, according to the website BleepingComputer, which first reported the incident. The site reported that the data included premium members’ email addresses, search and viewing activity and location

Amazon in talks to invest $10bn in developer of ChatGPT

Amazon is in talks to invest more than $10bn (£7.5bn) in OpenAI, in the latest funding deal being struck by the startup behind ChatGPT.If it goes ahead, the market valuation of OpenAI could rise above $500bn, according to The Information, a tech news site that revealed the negotiations.Amazon, which is best known as an online retailer, is also the world’s largest datacentre provider and its investment would help OpenAI pay for its commitments to rent capacity from cloud computing companies – including Amazon.OpenAI said last month it would spend $38bn on capacity from Amazon Web Services – the company’s datacentre arm – over seven years

The Knicks have a trophy and Wembanyama has a chip on his shoulder: Five NBA Cup takeaways

New York got a championship while a high-stakes meeting between the Thunder and Spurs showed where the NBA, and the NBA Cup, is todayAfter toppling the defending champion Boston Celtics in a shocking upset in the Eastern Conference semi-finals this spring, The New York Knicks immediately became the favorites to represent the conference in the NBA Finals. The Indiana Pacers, a team that will no doubt go down as having one of the most compelling Cinderella stories in modern NBA history, had other plans.But this year, the East is more open than ever (though Knicks guard Jalen Brunson insists he’s “not a fan” of the narrative of a wide open conference). The Detroit Pistons have made a remarkable turnaround from being at the bottom of the East standings a few years ago to the top of them, but the Knicks’ showing in Cup play, ultimately hoisting the trophy in the third year of the contest, has shown what many believed heading into this season: they’re the team to beat.Brunson continues to be every bit the superstar his franchise needs, Mikal Bridges is having a fantastic season, and (knocks on wood) they’re as healthy as they’ve been in ages

Khawaja and Carey rise up to fill the gaps as England squander Australia’s gifts | Geoff Lemon

Chalk it up to fates or fortune or a quirk of probability, whatever your inclination. If Australia’s first day of the Adelaide Test was a jigsaw puzzle hurled into the air, most of the the pieces landed face up in the right place. It has been a pattern for Australia in this Ashes series: monstered by England’s bowlers on Perth, only to create on an even greater collapse; sliding in Brisbane, rescued by the lower order.England, meanwhile, brought a gameplan built on the surety that they couldn’t win in Australia with medium-fast seamers and a keeper up to the stumps, then lost to medium-fast seamers with a keeper up to the stumps. They were given the gift of no Pat Cummins, no Josh Hazlewood, no Nathan Lyon and still managed to lose twice in six days