OpenAI has paused its Stargate UK data centre investment, citing sky-high British energy prices and copyright uncertainty, in a blow to Labour’s AI superpower ambitions. Read more: OpenAI pulls plug on Stargate UK, leaving Starmer’s AI superpower pitch in tatters
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Brent crude jumps 4% towards $100 a barrel after Iran closes the Strait of Hormuz in response to Israeli strikes, threatening 20% of global oil and gas supplies. Read more: Oil price surges towards $100 as Middle East ceasefire begins to unravel
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Vinted revenues rose 38 per cent to €1.1bn as cash-strapped consumers turn to second-hand fashion, with the UK now its second-largest market boasting 16 million users. Read more: Vinted breaks the billion-euro barrier as thrifty shoppers embrace second-hand fashion
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Britain set new solar generation records on consecutive days this week, hitting 14.4GW, as the government approved the Springwell solar farm in Lincolnshire — the UK’s largest. Read more: Britain smashes solar records as ministers greenlight country’s largest solar farm
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John Lewis Partnership chairman Jason Tarry received a 21% pay rise to £1.2m while the retailer shed 3,300 jobs across its department stores and Waitrose supermarkets. Read more: John Lewis chairman’s pay climbs 21% to £1.2m as 3,300 roles disappear across the partnership
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Britain’s private sector barely grew in March as the Middle East conflict drives up costs and dampens confidence, raising the spectre of stagflation for SMEs already under pressure. Read more: The spectre of stagflation returns as Britain’s private sector grinds to a near-halt
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SpaceX is planning the largest IPO in history, targeting a $2tn valuation with up to 30% of shares reserved for retail investors. Here’s what UK investors need to know. Read more: SpaceX woos the small investor as Musk eyes the biggest flotation in stock market history
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Senior climate figures warn that opening new North Sea oil and gas fields would imperil global climate targets, encourage developing nations to exploit fossil fuels, and undermine Britain’s hard-won reputation as a pioneer in climate action. Read more: New North Sea oil fields would “send a shock wave around the world”, climate experts warn
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Workplace pension start-up Compound has raised £500,000 with backing from Monzo co-founder Paul Rippon and Fuel Ventures to challenge legacy providers in a market plagued by poor technology and rising opt-out rates. Read more: Monzo co-founder backs pension start-up Compound in £500,000 raise to shake up workplace savings
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The government has announced £100m in new investment for start-ups and scale-ups through expanded EIS, VCT and EMI schemes, but business leaders say established firms paying higher National Insurance are being left behind. Read more: Government’s £100m pledge for innovators dismissed as a drop in the ocean after £25bn National Insurance raid
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