Debenhams boss could receive almost £150m if he turns around struggling retailer

The boss of Boohoo and Debenhams could collect almost £150m in shares if he significantly boosts the value of the struggling fashion group, which is battling to turnaround sliding sales.Debenhams Group said on Thursday that Dan Finley, the chief executive, is in line to receive £148.1m in stock in five years’ time, as part of an incentive scheme for top bosses worth more than £200m.The scheme emerged as Debenhams Group said sales slumped 23% to £297m in the six months to 31 August, dragged down by a 41% dive in sales at its “youth brands”, which include Boohoo and Pretty Little Thing. Sales at its Karen Millen brand fell by 31%

Economists warn budget built on ‘shaky foundations’; December UK interest rate cut looks more likely – business live

Some UK bond yields are now moving a little higher, as the City continues to analyse the budget.The yield (or interest rate) on 10-year gilts has gained four basis points to 4.46% today, which erodes around half of the recovery in yields yesterday.Investors will have noted that while the spending increases in the budget happen quite soon, the tax rises are more back-loaded.As City firm TS Lombard put it:Tightening is mostly kicked into the back-end of the forecast period, with policy actually adding to borrowing in the next few years

Foreign interference or opportunistic grifting: why are so many pro-Trump X accounts based in Asia?

When X rolled out a new feature revealing the locations of popular accounts, the company was acting to boost transparency and clamp down on disinformation. The result, however, has been a circular firing squad of recriminations, as users turn on each other enraged by the revelation that dozens of popular “America first” and pro-Trump accounts originated overseas.The new feature was enabled over the weekend by X’s head of product, Nikita Bier, who called it the first step in “securing the integrity of the global town square.” Since then many high-engagement accounts that post incessantly about US politics have been “unmasked” by fellow users.An Ivanka Trump fan account that posts about illegal immigration to the US was shown to be based in Nigeria

London councils enact emergency plans after three hit by cyber-attack

Three London councils have reported a cyber-attack, prompting the rollout of emergency plans and the involvement of the National Crime Agency (NCA) as they investigate whether any data has been compromised.The Royal Borough of Kensington and Chelsea (RBKC), and Westminster city council, which share some IT infrastructure, said a number of systems had been affected across both authorities, including phone lines. The councils shut down several computerised systems as a precaution to limit further possible damage.The Information Commissioner’s Office (ICO) said the London Borough of Hammersmith and Fulham had also reported an attack. Together the three authorities provide services for more than half a million Londoners

Lando Norris insists nothing has changed in title fight after Vegas shambles

Lando Norris has insisted nothing has changed in terms of his focus on sealing his first Formula One world championship after both he and his McLaren teammate were disqualified from the Las Vegas Grand Prix, a result which catapulted Red Bull’s Max Verstappen back into contention for the title. McLaren’s team principal Andrea Stella however has denied the team took “excessive risks” with their car in Las Vegas.The race in Nevada last weekend was won by Verstappen but Norris took a strong second and Piastri fourth. However, four hours afterwards, following an investigation by the FIA, both were disqualified after the skid blocks on the floor of their cars were found to have been worn down below the 9mm limit defined in the rules.Verstappen had been 49 points behind Norris going into the meeting but with Norris and Piastri stripped of their points he is now only 24 behind, the same deficit as Piastri, as the season enters its penultimate round in Qatar

AFLW clubs’ lack of ambition laid bare by 2025 grand final deja vu | Jack Snape

North Melbourne against Brisbane, take three. Over 116 matches of AFLW in 2025, the competition has delivered the same grand finalists for the third straight year. And few, apart from Melbourne fans, would disagree that Saturday night’s sold-out clash is a fitting conclusion to the 10th season of elite women’s footy.But the consistent brilliance of the Lions and Kangaroos has also highlighted a lack of ambition from other AFLW clubs, whose failure to even spend what they are allowed to on coaches is an open secret in the competition.The Kangaroos enter their third straight grand final on Saturday and are unbeaten in two years