Atom is prematurely split in the ‘golden age’ transatlantic partnership | Nils Pratley

It had all been so harmonious two months ago. “Together with the US, we’re building a golden age of nuclear that puts both countries at the forefront of global innovation and investment,” purred the prime minister about the new “landmark” UK-US nuclear partnership.Now there’s an atomic split over the first significant decision. The UK has allocated Wylfa on the island of Anglesey, or Ynys Môn, to host three small modular reactors (SMRs) to be built by the British developer Rolls-Royce SMR. The US ambassador, Warren Stephens, says his country is “extremely disappointed”: he wanted Westinghouse, a US company, to get the gig for a large-scale reactor

Ineos to cut hundreds of jobs as carmaker struggles with debts

The carmaker owned by the billionaire industrialist Jim Ratcliffe will make hundreds of job cuts across the company’s global workforce as his heavily indebted empire comes under increasing pressure.Ineos Automotive did not specify an exact number of losses from its 1,700-strong workforce, saying only that it would shed “several hundred” head office staff across multiple locations, including the UK and parts of Europe.The company owned by Ratcliffe, who also co-owns Manchester United, said the “strategic measures to structure its business” would help to simplify its head office and improve efficiency.The Guardian understands that the cuts are unlikely to affect the company’s automotive plant in Hambach, France, which is building the Ineos Grenadier, an off-road vehicle that pays homage to the discontinued Land Rover Defender.Ratcliffe has struggled to turn his vision into a profitable business after a string of problems at the French factory, which led the company to recall more than 7,000 of its Grenadier vehicles in the US over faulty doors

‘Whatever it takes’: Starbucks workers launch US strike and call for boycott

More than a thousand Starbucks workers have commenced a strike in more than 40 cities across the US on Thursday amid stagnant negotiations with the world’s largest coffee chain over a first union contract.On the company’s annual “red cup day”, hailing the start of the lucrative holiday season, Starbucks Workers United is launching an unfair labor practice (ULP) strike, with rallies planned in locations including New York City; Philadelphia, Pennsylvania; Chicago, Illinois; Columbus, Ohio; and Anaheim, California.About 65 stores are initially affected. Organizers plan to expand the strike to more locations should executives hold firm – and want customers to steer clear of the chain as part of a campaign dubbed “no contract, no coffee”.Starbucks said it was “disappointed” that Workers United had voted to strike, rather than continue bargaining, but insisted the “vast majority” of stores would be unaffected by the action

UK exports to US hit lowest level since January 2022 as tariffs bite, and economy shrinks – as it happened

UK exports to the US have fallen to their lowest level since January 2022, as Donald Trump’s trade war has hit demand for British goods.New trade data from the Office for National Statistics this morning shows that the value of UK exports to the US, including precious metals, fell by £500m or 11.4% in September.The ONS says:The value of goods exports to the United States in September 2025 were at their lowest level since January 2022 and have remained relatively low since the introduction of tariffs in April.This drop in trade comes despite the deal agreed by Donald Trump and Keir Starmer this summer, under which the UK aerospace sector faces no tariffs at all from the US, while the auto industry now has 10% tariffs, down from 25%

Liberty Steel being investigated in Romania for embezzlement

Sanjeev Gupta’s Liberty Steel is under investigation in Romania for embezzlement and tax evasion, adding to the metals tycoon’s difficulties after the loss of his key British operation.Romania’s prosecutor’s office said in a statement last week that they raided seven homes and the registered office of an unnamed company.Liberty Steel and its parent organisation, the Gupta Family Group (GFG) Alliance, said the company would “vigorously defend itself against the unfounded allegations directed at the company”.Gupta, who is Indian-born and UK-educated, was once known as the “saviour of steel” for his plans to turn around struggling metalworks. However, his empire, previously stretching through the UK, eastern Europe and Australia, has unravelled in the years since the collapse of the lender Greensill Capital in 2021

Scotland plans to issue £1.5bn of its own bonds – ‘kilts’ rather than gilts

The Scottish first minister John Swinney has said Edinburgh is on track to issue its own government bonds, nicknamed “kilts”, after the country was given the same credit rating as the UK.Two ratings agencies Moody’s and S&P Global gave Scotland a score of Aa3 and AA respectively, echoing their judgment for the UK as a whole.The jokey name for the new financial instruments is a play on gilts, as UK government bonds are known.In a statement, Moody’s said its rating was “supported by the well-established devolution framework” that Scotland operated under, “with a requirement to maintain a balanced budget and predictable grant allocation”. The ratings agency added that the Scottish National party (SNP) government had “demonstrated prudent fiscal management”