More UK retailers in critical financial distress; fashion brand Quiz needs more funding soon – as it happened

Time to wrap up…After a weak Boxing Day, UK, shoppers are returning to the high street today in greater numbers than last year.New data from MRI Software shows that footfall across all UK retail destinations had risen by +8% as of 12pm, compared to 27th December 2023.That might help the sector, where the number of UK retailers on the brink of collapse has risen by a quarter in the final three months of the year, driven by a combination of rising business costs and weak consumer confidence, according to a report.The proportion of retail businesses classed as being in “critical” financial distress increased by 25% to 2,124 in the fourth quarter compared with the previous three months, the insolvency specialists Begbies Traynor said.The general retail sector is under most pressure, with a 29% quarterly increase in businesses in critical financial distress, rising to 1,457 from 1,127 in the third quarter

Number of UK retailers on brink of collapse soars by 25%

The number of UK retailers on the brink of collapse has risen by a quarter in the final three months of the year, driven by a combination of rising business costs and weak consumer confidence, according to a report.The proportion of retail businesses classed as being in “critical” financial distress increased by 25% to 2,124 in the fourth quarter compared with the previous three months, the insolvency specialists Begbies Traynor said.The general retail sector is under most pressure, with a 29% quarterly increase in businesses in critical financial distress, rising to 1,457 from 1,127 in the third quarter.In the food and drug retail sector there was a 17.2% quarterly increase, with the number of businesses facing collapse rising from 569 in the third quarter to 667 by the end of the 11th week of the final quarter of this year

‘Godfather of AI’ raises odds of the technology wiping out humanity over next 30 years

The British-Canadian computer scientist often touted as a “godfather” of artificial intelligence has raised the odds of AI wiping out humanity over the next three decades, warning the pace of change in the technology is “much faster” than expected.Prof Geoffrey Hinton, who this year was awarded the Nobel prize in physics for his work in AI, said there was a “10 to 20” per cent chance that AI would lead to human extinction within the next three decades.Previously Hinton had said there was a 10% chance of the technology triggering a catastrophic outcome for humanity.Asked on BBC Radio 4’s Today programme if he had changed his analysis of a potential AI apocalypse and the one in 10 chance of it happening, he said: “Not really, 10 to 20 [per cent].”Hinton’s estimate prompted Today’s guest editor, the former chancellor Sajid Javid, to say “you’re going up”, to which Hinton replied: “If anything

There’s no reason for older people to fear smartphones | Letters

In wishing to ban smartphones, Tim Watson (nearly 94) throws the baby out with the bathwater (Letters, 20 December). Being of a certain age myself, I remember when nobody in my close family even had a landline.Smartphone use can become misuse but, used intelligently, the smartphone is one of the greatest modern inventions. With mine, I can call people on the other side of the world cheaply or even at no cost; I can use it as a satnav; I do not have to speak to everyone because I can simply send them a text; I can store important information and use any number of apps.I agree with banning smartphone use during school hours – and appropriate use and misuse should be part of education today because, of course, there are dangers

Val Dancer wins Welsh Grand National: horse racing news and results – as it happened

Well that’s it for Welsh Grand National day and while it was terrific to see (when you could see any of the action) a stirring finish for the Chepstow contest there was just one horse to concentrate on … and that was Sir Gino, who put up one of the most impressive novice chase debuts for many a long year at Kempton.The Arkle Chase beckons for that brilliant winner of the Wayward Lad Chase for trainer Nicky Henderson, who reported afterwards: “He’s always had a huge amount of talent and this sort of track suits him really well because he’s got a lot of speed.“I think he has to have another run. You could say ‘what can you teach him?’. Probably not a lot, but you’ve just got to be respecting these things because it is all a little bit too easy for him today

Handré Pollard relishing chance of another Twickenham masterclass

There will be those at a sold-out Twickenham on Saturday who will be sick of the sight of Handré Pollard. The 30-year-old fly-half returns to the stadium with Leicester six weeks after his accuracy from the tee kept the Springboks out of reach against England, his goalkicking once more a dagger to the heart of Steve Borthwick. That his opposite number will be Harlequins’ Marcus Smith only heightens the sense that England’s bête noire is back.As was the case in the 2023 World Cup semi-final, Pollard began November’s victory over England on the bench, only to come on and turn the screw from the tee. He is the elder statesman of South Africa’s pool of No 10s but is at home playing the role of safe hand on the tiller, just when Rassie Erasmus needs it