Rachel Reeves to raise windfall tax on low-carbon electricity generators

Rachel Reeves is poised to raise the government’s windfall tax on low-carbon electricity generators to help limit UK household energy bills, the Guardian understands.The chancellor is ready to hike the levy introduced in 2022 to target the excess profits made by the owners of older renewable energy and nuclear plants as electricity market prices soared after Russia’s full-scale invasion of Ukraine.She could announce the plans to raise the so-called electricity generator levy as early as Tuesday, alongside a consultation on “radical” proposals to permanently weaken the link between soaring gas market prices and the cost of Britain’s electricity for the long term.Executives across the industry have been told to expect contact from officials on Monday to set out the government’s determination that electricity costs should be protected from the surge in gas markets and be set more often by cheaper renewable sources.Currently, the overall price is set by the most expensive source of power, which is usually gas power plants

Oil price drops below $90 a barrel after Iran says strait of Hormuz is open

Oil and gas prices fell sharply on Friday after Iran said the strait of Hormuz was open to commercial shipping, potentially clearing the way for tankers holding millions of barrels of oil and gas to reach the global market.Iran’s foreign minister said vessels would be free to transit the strait of Hormuz for the duration of the 10-day ceasefire between Israel and Lebanon, which was struck on Thursday.Brent crude, the international benchmark, fell more than 10% to $88.8 a barrel. That is well below a peak of $119 last month, but still much higher than the $72 before the war

Kenyan firm sacks more than 1,000 workers after losing Meta contract

More than 1,000 low-paid workers in Kenya have been abruptly sacked by an outsourcing company contracted by Meta, in what activists said was a shocking move exposing the precariousness of tech jobs in the global south.Sama, a company based in Nairobi to which Meta outsourced content moderation and AI training work, announced on Thursday that the workers were being laid off after Meta terminated a contract.Last month reports said some Kenyan workers involved in data annotation were asked to view content filmed using Meta’s AI smart glasses showing wearers using the toilet or having sex.The sacked workers, many involved in AI training, have been given six days’ notice, according to the Oversight Lab, an organisation that advocates for fair regulation and deployment of technology across Africa. It said it was advising the workers on legal options

UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

OnlyFans, the UK adult video platform, is in talks to sell a minority stake to a US investor that will value the business at more than $3bn (£2.2bn).The London-based company is in advanced talks to sell a stake of less than 20% to the San Francisco-based investment firm Architect Capital, according to the Financial Times. Sources familiar with the process confirmed the talks to the Guardian.OnlyFans has decided that offloading a minority stake is the best guarantee of stability for a business dealing with the death of its owner, Leonid Radvinsky

O’Sullivan and Trump no-shows spoil mood before World Snooker Championship

Neither former world champion was at obligatory event as two British prospects look forward to moment in spotlightIf there were any doubt remaining that Ronnie O’Sullivan retains a gravitational pull on the world of snooker, few moments hammered home the point better than Friday’s launch of this year’s World Snooker Championship when the seven-time champion became the story without even being there.The first ball will not be potted in Sheffield until Saturday morning and the first headline has been generated by a player not in action until Tuesday. When the traditional photo of the world’s top 16 took place as usual outside the Crucible on Friday afternoon it did so without two of the sport’s biggest names in O’Sullivan and Judd Trump.Both were a no-show at the press event that the seeded players are contractually obliged to attend, with the reasons for their absence unclear. It could yet lead to disciplinary action from the authorities: not that either will be hit too hard financially

Lancashire to put matches behind paywall; Rew sparkles for Somerset on rain-hit day – as it happened

James Rew was the bright spark in a rain-ruined day. Thanks for your company, back tomorrow – bye!DIVISION ONESouthampton: Hampshire 238 v Somerset 154-3Edgbaston: Warwickshire 113-7 v Essex rainDIVISION TWOBristol: Gloucestershire 124-6 v Lancashire rainNorthampton: Northants v Middlesex 284-6 bad lightTime for me to write up again, sorry about the truncated coverage today – back tomorrow!Tom Abell wakes up the Friday evening crowd with six off a sun-glassed Liam Dawson’s second ball. And now Rew gently, so gently, drives him for four. And another. Fifteen from the over, Somerset 92 for three