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Trump accused of attacking UK energy policies on behalf of fossil fuel industry
Climate campaigners have accused Donald Trump of attacking Britain’s energy policies on behalf of the fossil fuel industry, which made record donations to his presidential campaign.The US president-elect wrote in a social media post on Friday that the British government was gravely mistaken by cracking down on North Sea oil and gas producers – and that the UK should abandon wind generation.The broadside appeared to be a clear condemnation of the Labour government’s decision to raise taxes for oil and gas producers while granting record subsidies to new wind power projects.The UK plans to double its onshore wind generation and quadruple its offshore wind capacity by the end of the decade, aiming to run a clean power system by 2030 and hit legally binding climate targets. At the same time it has ruled out granting any new oil and gas licences
Biden blocks Nippon Steel’s $15bn bid for US Steel over national security fears – as it happened
Time to wrap up…US president Joe Biden has used his final days in office to block Japanese firm Nippon Steel from taking over US Steel, amid national security concerns.The general sentiment: keep key US resources like steel under the control of US companies.The move has prompted pushback from the Japanese industry minister, who says that the decision is ‘regrettable’ and ‘difficult to comprehend’.However, this is one of the few policies that his successor, president-elect Donald Trump, has also backed. Elsewhere, Trump has been making waves after he used his Truth Social media platform to hit out at UK wind farms and windfall taxes on North Sea oil producers
Laura Ashley bought by US owner of Ben Sherman
Laura Ashley has been acquired by New York-based Marquee Brands, the owner of 17 businesses including Ben Sherman and Martha Stewart.The clothing and home furnishings brand, best known for its floaty floral frocks, has been sold by Gordon Brothers.Gordon Brothers has owned Laura Ashley since 2020, when the US restructuring specialist bought the business out of administration after it became the first major retail casualty of the Covid pandemic.The company, which has no stores of its own, made a return to the high street the following year through a deal with Next.Laura Ashley also has deals in place with DFS and John Lewis in the UK, and is available in 150 shops globally via a network of overseas licensees
Profits at GB News owner Paul Marshall’s hedge fund plunge
Profits at the hedge fund co-founded by the GB News and Spectator owner Sir Paul Marshall plunged by almost two-thirds last year, resulting in significantly reduced payouts for its partners.Marshall Wace, one of London’s most successful hedge funds, has declared profits of £192m in the year to the end of February 2024, a sharp fall of 64% compared with the £538m the previous year.Marshall Wace was founded in 1997 by Marshall and Ian Wace and manages more than $71bn (£57.2bn) in funds, making it one of the largest of its kind in the world.Last year, Marshall sealed a £100m takeover of the Spectator magazine, adding to a media empire that includes backing the often controversial GB News TV channel and the UnHerd website
‘It didn’t come as a surprise’: UK workers on being forced back into the office
Christina says it is a “logistical nightmare” working out the school and nursery runs after being ordered to return to the office for three days a week from January. “It didn’t come as a surprise but it was devastating,” she says.The 34-year-old chartered accountant from Scotland was told by her employer that office attendance would be “strictly enforced” in the new year with days potentially increasing based on business need. Her husband, who works in finance, was already working three days in the office after it was mandated in October.Christina is one of scores of people who shared with the Guardian how they felt about bosses reducing the time they spend working from home
‘Drab December’ caps another year of declining footfall on UK high street
High streets and other shopping destinations have had a “drab December”, ending another year of falling visitor numbers and raising fears of disappointing sales in the most important month for retailers.Attendance at UK shopping centres, retail parks and high streets was down 2.2% in December compared with the same period in 2023, according to data from the British Retail Consortium (BRC) and analysts at Sensormatic. The decrease was led by a 3.3% decline at shopping centres
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