Drax is the subsidy show that goes on and on | Nils Pratley

Surprise, surprise, a mighty £7bn of subsidies since 2012 have not been enough to get Drax to stand on its own feet. More bungs are required to keep the wood fires burning at the enormous power plant in North Yorkshire – this time an estimated £1.8bn from 2027-31.The energy minister Michael Shanks at least sounded embarrassed. He railed against the “unacceptably large profits” Drax has made, said past subsidy arrangements “did not deliver a good enough deal for bill payers” and vowed that that the definition of a “sustainable” wood pellet would be tightened

Asil Nadir, Polly Peck tycoon turned fugitive, dies aged 83

Asil Nadir, the Turkish Cypriot who built Polly Peck International, once Britain’s fastest-growing company, before going on the run after it was discovered he had stolen millions from the conglomerate, has died. He was 83.Tributes poured in on Monday in the Turkish-held north of Cyprus, where the one-time fugitive businessman was regarded as a hero and for many years had lived in exile and isolation.“Every person is as long-lived as his works. Asil Nadir is immortal with his works,” wrote Hasan Hastürer, a columnist in Kıbrıs Gazetesi, the newspaper once owned by the tycoon

Macron touts Europe and trolls Trump at Paris AI summit

Emmanuel Macron touted Europe and France as artificial intelligence powerhouses, amid speculation that the US and UK are playing hardball over a diplomatic declaration at the Paris AI summit.The French president told investors and tech companies attending the summit to “choose Europe and France for AI” as he teased his US counterpart Donald Trump over his swing towards fossil fuels.Referring to the vast energy consumption needed by AI, Macron said France stood out due to its reliance on nuclear energy. Trump said in his inauguration address that the US will “drill, baby, drill” for oil and gas under his leadership.“I have a good friend on the other side of the ocean saying ‘drill, baby, drill

‘Engine of inequality’: delegates discuss AI’s global impact at Paris summit

The impact of artificial intelligence on the environment and inequality have featured in the opening exchanges of a global summit in Paris attended by political leaders, tech executives and experts.Emmanuel Macron’s AI envoy, Anne Bouverot, opened the two-day gathering at the Grand Palais in the heart of the French capital with a speech referring to the environmental impact of AI, which requires vast amounts of energy and resource to develop and operate.“We know that AI can help mitigate climate change, but we also know that its current trajectory is unsustainable,” Bouverot said. Sustainable development of the technology would be on the agenda, she added.The general secretary of the UNI Global Union, Christy Hoffman, warned that without worker involvement in the use of AI, the technology risked increasing inequality

Government officials ‘more pessimistic’ about financial health of rugby union

Government officials say they are increasingly pessimistic over the financial stability of professional rugby union, as they defended loans given to sports organisations during the pandemic.A National Audit Office (NAO) report published last year said that as much as £29m of a total £474m lent to sports organisations during the pandemic will not be recovered. Central among the defaulters are three rugby clubs – Worcester, Wasps and London Irish – who went into administration after being lent £41.6m in public money.Speaking in front of the Public Accounts Committee in parliament on Monday, the director general of policy at the Department for Culture, Media and Sport (DCMS), Polly Payne, said the government was now monitoring financial risks not only to clubs but the Premiership itself, and that concerns over financial viability had grown

White cornerback, Black QB: did Eagles grab ultimate DEI Super Bowl win?

Observers have jokingly pointed to Cooper DeJean as a diversity hire for the NFL champions. But they have succeeded by challenging outdated ways of thinkingBy now, those who watched Sunday’s Super Bowl have most likely forgotten about the house ads promoting racial and cultural unity. That’s no doubt because a much stronger statement was delivered midway through the second quarter when a pass by the Kansas City Chiefs’ Patrick Mahomes was intercepted and returned for an touchdown by Philadelphia’s Cooper DeJean.DeJean, the first white player to start at cornerback in a Super Bowl in 24 years, has cheekily been described by media figures such as Bomani Jones as the league’s ultimate DEI hire. But while those comments have been made with tongues firmly planted in cheeks, there is some merit in describing the Eagles’ victory as a win for diversity, equity and inclusion – something that suddenly finds itself under attack in America