Ed Miliband to double down on net zero with measures to combat Iran energy shock

Ed Miliband will double down on Labour’s commitment to net zero in the face of the Middle East conflict this week, insisting that as fossil fuel prices soar “the era of clean energy security must come of age”.The energy secretary is set to announce a package of new policies in a speech on Tuesday in response to an expected energy crisis prompted by Donald Trump’s war with Iran.These will include speeding up the warm homes plan to encourage the rapid take-up of solar panels and electric vehicles; expanding the use of solar on public land; and delinking gas and electricity prices, to cut consumers’ bills.“As we face the second global energy shock in less than five years, the lesson for our country is clear; the era of fossil fuel security is over, and the era of clean energy security must come of age,” he is expected to say.Oil prices plunged on Friday amid claims that the key maritime choke point of the strait of Hormuz was reopening – but those hopes were dashed over the weekend, with Iran insisting it would remain under “strict control”

ABF poised to reveal result of Primark and food business demerger plan

Primark may break free from Kingsmill, Twinings and the sugar business this week when Associated British Foods announces plans on a mooted demerger.The potential split comes at a tricky time for the group controlled by the billionaire Weston family, with its fashion and food arms facing tough competition and rising costs.ABF, which owns bakeries, a sugar production business and provides ingredients to the restaurant trade alongside selling brands including Patak’s spice flavourings, Blue Dragon sauces and Jordans cereals, said in November last year that it was considering a demerger of Primark, its fashion arm. It said a strategic review carried out with the help of the advisory company Rothschild & Co had “a view to maximising long-term value”.That was followed by a subdued statement on Christmas trading in January when the company admitted that annual sales were likely to be flat year on year and profits down

We all share blame for the decline of our high streets | Brief letters

I sympathise with people mourning the demise of once‑loved stores and the pitiful state of their high streets (Wildings in Newport, Wales: the grand department store that became an illicit cannabis farm, 16 April). This is not the fault of the government, but rather a result of changing consumer habits. Perhaps we are all guilty. These shops are not charities, there to adorn the public realm. They are businesses and if people don’t shop there they will close

Independent bookstores make quiet comeback as big chains dominate retail

For years now, we have heard that Amazon and the big chains are crushing small businesses, but independent bookstores are suddenly making a comeback.About 422 new indie bookshops opened in 2025, according to the American Booksellers Association, a 31% rise from 2024. Countless independent restaurants, coffee shops, fitness centers, movie theaters, clothing stores and other small businesses also continue to thrive even in this era of ever-bigger retailers, fast-casual restaurants and massive e-commerce platforms.The reasons are obvious.For starters, we live in a big country

Bank bosses called to meeting with Reeves over impact of Iran war on UK economy

The bosses of Britain’s “big five” retail banks have been summoned to a meeting with the chancellor, Rachel Reeves, this week to discuss how to limit the economic impact of the crisis in the Middle East triggered by the US and Israel’s attacks on Iran.The chief executives of HSBC, Barclays, Lloyds, NatWest and Santander have been asked to attend an emergency summit on Wednesday, amid increasing acceptance that a major economic hit from the Iran war is unavoidable.Talks will focus on how to protect those most vulnerable to the ripple effect, according to a source familiar with the plans, with borrowers who are braced for mortgage rate increases a particular area of focus.This will include an update on banks’ commitment to support 1.6m customers whose fixed-rate deals end between now and the end of the year, under the government’s mortgage charter

Falling fertility, debt and AI: is the US headed toward a population crisis?

Americans having fewer kids plus an ageing population could be a recipe for disaster that further erodes social stabilityRemember environmentalist Paul Ehrlich’s 1960s-vintage prediction about how overpopulation would deplete the Earth’s resources and condemn millions to starvation? His Malthusian condemnation of humanity’s voracious appetite has kept a grip on the debate over the future of the planet, even scaring the young out of having children.Ehrlich was wrong. Yet as we have come around to the thought that overpopulation won’t kill us all, we are being walloped by another demographic emergency: we are not having too many kids, we are having too few. This problem is real.The most recent scare came from government figures released last week suggesting the fall in US fertility – the number of children a woman will have over her lifetime – may be speeding up, hitting a record low of 1