Business

Transport Secretary Heidi Alexander is set to deliver a damning assessment of the previous Conservative government’s handling of the HS2 high-speed rail project, accusing ministers of wasting billions of pounds through poor oversight, mismanagement, and politically driven indecision.

In a statement to be made in the House of Commons on Wednesday, Alexander will unveil the findings of two major reviews into the troubled project, as government sources brace for confirmation that the total projected cost of HS2 could exceed £100 billion—five times the original 2012 estimate for phase one.

“Billions of pounds of taxpayers’ money has been wasted by constant scope changes, ineffective contracts and bad management,” Alexander will tell MPs. “It’s an appalling mess. But it’s one we will sort out.”

The reviews, led respectively by James Stewart and Mark Wild, paint a bleak picture of how costs spiralled out of control and key decisions were taken—or delayed—with little regard for commercial or operational consequences.

One of the central criticisms in Stewart’s review is the decision to sign major construction contracts in 2020, despite recommendations from the Oakervee Review—commissioned by then Prime Minister Boris Johnson—that the government delay contracting until a clear scope had been agreed. Alexander will highlight how successive ministers pressed ahead with signing off on billions in spending before making core political decisions about the route and design of the railway.

Wild’s early assessment, meanwhile, focuses on how to proceed with the now truncated phase one line between London and Birmingham. His findings, according to sources briefed on the report, suggest the entire budget will need to be restated in current prices, pushing the official cost closer to £100bn, compared with the £20bn estimate made in 2012.

Among the most egregious examples of waste, Alexander will cite the £250 million spent on two separate sets of designs for the new HS2 station at Euston, both of which were ultimately discarded. Meanwhile, £2 billion was spent on preparatory work for the now-cancelled northern leg from Birmingham to Manchester, which was scrapped by Rishi Sunak in October 2023.

Despite Sunak announcing the formation of a ministerial task force to oversee improvements to Euston following the cancellation, government sources now confirm the task force never held a meeting.

A Labour source close to the project called it a “comedy of errors” caused by political indecision and inadequate ministerial oversight:

“The cost inflated out of all control. Billions were wasted due to political dithering and a delivery company not fit for purpose. It’s a comedy of errors, but no one’s laughing.”

The transport secretary is also expected to address allegations of fraud within the HS2 supply chain, following whistleblower reports that a labour supplier charged inflated rates for staffing. HS2 Ltd has launched an internal investigation and reported the matter to HMRC.

“There are allegations that parts of the supply chain have been defrauding taxpayers,” Alexander will tell MPs. “These need to be investigated rapidly and rigorously. If fraud is found, then the consequences will be felt by all involved.”

To try and rescue the beleaguered scheme, Alexander will announce the appointment of Mike Brown, the former Transport for London commissioner, as the new chair of HS2 Ltd, replacing Jon Thompson, who resigned earlier this year after publicly criticising the project’s direction—including the now-infamous £100m bat tunnel.

Brown is expected to work closely with Mark Wild, who has laid out the terms for a “reset” of the project. Wild, credited with eventually delivering the Elizabeth Line, has proposed a revised approach aimed at cutting costs and rebuilding credibility. However, insiders suggest this will likely mean pushing back HS2’s full opening into the 2030s, even for the reduced London-Birmingham route, while admitting that real-terms costs will continue to rise.

Despite the challenges, ministers maintain that delivering even a slimmed-down HS2 is vital to modernising Britain’s rail network and increasing capacity in the decades ahead.

The disclosures mark a watershed moment for a project once billed as the crown jewel of Britain’s infrastructure future but now viewed by many as a case study in failed governance. As Labour ministers attempt to clean up what they describe as “an appalling mess”, Wednesday’s statement will crystallise the scale of the financial damage — and the uphill task now facing the new government to get HS2 back on track.

The Conservative Party, which championed HS2 through successive governments, has yet to issue a comment.

Read more:
Reviews show Tories wasted billions of pounds on HS2, transport secretary to say

The UK’s data protection regulator has fined genetic testing firm 23andMe £2.31 million following a large-scale data breach in 2023 that exposed the personal and sensitive health information of thousands of users, including over 155,000 UK residents.

The Information Commissioner’s Office (ICO) said on Monday that 23andMe had failed to implement basic security measures, leaving sensitive user information—including health reports, racial and ethnic identity, profile images, and family histories—vulnerable to cyberattack.

“This was a profoundly damaging breach that exposed sensitive personal information, family histories, and even health conditions,” said Information Commissioner John Edwards. “Their security systems were inadequate, the warning signs were there, and the company was slow to respond.”

The breach originated in October 2023, when hackers launched what’s known as a “credential stuffing” attack. Using usernames and passwords obtained from previous unrelated data leaks, attackers were able to access 14,000 individual 23andMe accounts. Crucially, because 23andMe links users to their genetic relatives, this gave attackers the ability to extract data on an estimated 6.9 million people connected through the platform.

Although DNA data was not compromised, the stolen information included special category data under UK law—such as ethnicity, health information and familial relationships—which requires stricter protection under GDPR due to its highly sensitive nature.

“As one of those impacted told us: once this information is out there, it cannot be changed or reissued like a password or credit card number,” Edwards said.

The ICO’s investigation, conducted in parallel with the Office of the Privacy Commissioner of Canada (OPC), found that 23andMe had breached UK data protection law by failing to implement multi-factor authentication (MFA), weak password policies, and insufficient controls over downloading raw genetic data.

The fine comes as 23andMe is undergoing bankruptcy proceedings and preparing to sell its assets. The company said last week it had agreed to a $305 million sale to the TTAM Research Institute, a non-profit biotechnology group led by co-founder and former CEO Anne Wojcicki. The deal is set to be reviewed by a bankruptcy court on Wednesday.

The sale replaces a previously proposed $256 million deal with Regeneron Pharmaceuticals. According to 23andMe, the higher-value TTAM deal includes binding commitments to enhance customer privacy and data protection—key concerns raised by regulators in both the UK and Canada.

Under the terms of the acquisition, the company said it would continue to allow users to delete their accounts, erase genetic data, and opt out of research participation.

In a statement, 23andMe said it had addressed the issues raised by the ICO and OPC by the end of 2024, implementing the recommended changes including additional security features.

Still, regulators remain cautious. Both watchdogs have called on the company to uphold ongoing privacy standardsduring and after the bankruptcy sale, particularly due to the sensitive nature of the data it holds.

The case represents a significant moment in the regulation of consumer-facing tech firms handling biometric and health-related data. While companies like 23andMe have gained popularity for their accessible genetic testing services, privacy advocates have long raised concerns about how such sensitive data is stored, shared, and monetised.

The ICO said it hoped the fine would send a message across the sector.

“This case highlights the need for robust authentication and verification processes,” Edwards added. “Organisations handling sensitive data must do more than the minimum to protect it.”

As data security standards tighten globally and consumer trust continues to falter in the wake of high-profile breaches, companies dealing in personal genomics may face increased scrutiny over how they manage the intersection of science, commerce, and privacy.

Read more:
UK watchdog fines 23andMe for ‘profoundly damaging’ data breach

Energy Secretary Ed Miliband has vowed that the Labour government will defeat those seeking to derail the UK’s net zero agenda, arguing that the green transition will succeed by delivering thousands of new jobs in Britain’s former industrial heartlands.

Speaking at the launch of a £1 billion investment scheme to boost the country’s offshore wind supply chain, Miliband said the government would win the political and economic case for net zero, not just through policy but by driving job creation in areas historically left behind.

“We’re going to win this fight, and we’re going to win this fight partly because of all the jobs that these companies are creating with us,” Miliband told an energy industry conference on Tuesday. “The forces that want to take us backwards, the forces that oppose net zero, will have to reckon not just with the government. They will have to reckon with all these companies that are creating jobs.”

The remarks were widely seen as a pointed response to the Reform UK party, which has vowed to scrap the country’s legally binding net zero targets if elected, and to Conservative leader Kemi Badenoch, who has described the 2050 goal as “impossible” and signalled her intent to withdraw the party’s support for it.

The new investment scheme, unveiled at the event, aims to catalyse a “green industrial revolution” by channelling support into supply chain companies across Teesside, Scotland, south Wales and East Anglia. These regions—once the heart of Britain’s manufacturing might—are expected to be at the forefront of a new wave of clean energy growth.

The £1 billion package includes:
• £300 million from Great British Energy, the state-backed renewable energy developer
• £300 million in match funding from the offshore wind industry
• £400 million from the Crown Estate, which leases the UK seabed for offshore wind developments

The government expects the funding to unlock thousands of long-term skilled jobs, from turbine manufacturing and electrical engineering to windfarm construction and ongoing maintenance.

The announcement comes as the UK wind sector continues to expand rapidly. A new report from RenewableUK, the clean energy trade body, revealed that the UK wind industry now employs 55,000 people, with 40,000 in offshore wind alone—a 24% rise in just two years.

To meet the government’s plan to quadruple offshore wind capacity by 2030, the industry will require between 74,000 and 95,000 additional workers, pushing the total wind workforce to more than 112,000 by the end of the decade.

The largest concentration of these new jobs is expected in the east of England and Yorkshire and the Humber, both areas where Reform UK made significant gains in recent local elections. New jobs are also projected for Scotland, ahead of its 2027 local elections.

Miliband said the clean energy transition offers not just an economic opportunity, but a chance to renew the social contract between government and communities that were neglected under previous industrial policies.

“This is about more than megawatts and investment figures—it’s about giving people a future. A net zero economy will be one that works for every part of the country, and the transformation is already under way.”

Labour’s push to accelerate clean energy investment comes against a backdrop of increasing political division over the cost and pace of the net zero transition. While Labour remains committed to reaching net zero emissions by 2050, Reform UK and sections of the Conservative Party have sought to position climate policies as economically damaging and electorally risky.

However, business leaders in the renewables sector have broadly welcomed the government’s approach. The investment package, combined with the establishment of Great British Energy, signals a more hands-on industrial strategy focused on scaling up domestic manufacturing, reducing supply chain bottlenecks, and securing energy independence.

As offshore wind remains central to the UK’s net zero strategy and energy security plans, Labour appears determined to anchor its green agenda in the creation of visible, well-paid jobs that will resonate with voters across political divides.

By making the case that net zero is not just an environmental imperative but a pathway to national renewal, Miliband and the government hope to win over critics and reframe the climate debate in terms of economic dignity, regional regeneration and long-term resilience.

As Miliband put it: “We are not just backing net zero. We are backing Britain.”

Read more:
Ed Miliband says Labour will ‘win fight’ against UK net zero critics with offshore wind jobs push

Chancellor Rachel Reeves is considering softening Labour’s flagship plans to scrap the non-domiciled tax regime, amid rising concern over the growing exodus of wealthy individuals and business leaders from the UK.

The Treasury is reportedly reassessing proposals to apply inheritance tax to the global estates of non-doms—UK residents who consider their permanent home to be abroad—after warnings that the measure could drive significant capital and talent out of the country. The changes, part of a wider overhaul of the centuries-old regime, are due to take effect in April 2025, but concerns are mounting that the new system is triggering a level of flight far beyond what had been forecast.

At the heart of the reconsideration is the government’s plan to charge inheritance tax at 40% on worldwide assets held by wealthy non-doms once they have lived in the UK long enough to become deemed domiciled under the new rules. The Treasury is now thought to be exploring revisions or exemptions to this aspect of the policy, in an effort to stem the tide of departures.

“There will most likely be some tweaks to inheritance tax to stop the non-dom exodus,” a senior City figure told the Financial Times.

The exodus of wealthy individuals is already visible in the data. Companies House filings analysed by Bloomberg show that more than 4,400 company directors have left the UK in the past year, with a particularly sharp rise over the past few months. In April alone, departures were 75% higher than the same month in 2023, with the greatest concentration in the finance, insurance and property sectors—fields long favoured by non-doms.

The exodus includes a growing list of high-profile names. Bloomberg has reported that figures such as billionaire heiress Anne Beaufour, investor Max Gottschalk, Magna Capital CEO Alexander Ginzburg, JC Flowers co-president Tim Hanford, and boxing promoter Eddie Hearn have recently left the UK. The steel magnate Lakshmi Mittal, whose family is worth nearly £15 billion and who has lived in Britain since 1995, is also reported to be considering relocation due to the new tax regime.

The Treasury has acknowledged the concerns, issuing a statement saying: “The government will continue to work with stakeholders to ensure the new regime is internationally competitive and continues to focus on attracting the best talent and investment to the UK.”

The original non-dom regime, in place for decades, allowed wealthy foreigners living in the UK to shield foreign income and assets from British taxation for an annual fee starting at £30,000. It was scrapped by Jeremy Hunt during his tenure as chancellor in March 2024, pre-empting Labour’s own pledge to end non-dom status.

Under the new residence-based tax regime, individuals who have been in the UK for more than four years will be taxed on worldwide income and capital gains, and after a longer period, on global estates for inheritance tax purposes. While the Office for Budget Responsibility (OBR) originally forecast that between 12% and 25% of non-doms would leave, a more recent Oxford Economics survey of tax advisers found that 60% expected over 40% of their non-dom clients to relocate within two years of the change.

Critics have argued that while Labour’s reform was intended to ensure fairness in the tax system, the loss of non-doms—and the high levels of capital, spending and business investment they bring—could ultimately result in lower tax receipts and damage to the UK’s competitiveness.

Non-doms often support a wide ecosystem of private employment, investment, and philanthropic activity. Their departure, some fear, may create a ripple effect, weakening everything from real estate investment to venture funding.

Rachel Reeves, who has pitched herself as a pro-business chancellor focused on growth, now faces a delicate political and economic balancing act. On the one hand, Labour’s plans to scrap the non-dom regime were central to its pre-election narrative of building a fairer tax system. On the other, the government is now under pressure to reassure international investors and avoid scaring away entrepreneurs, executives, and wealth creators.

Sources close to the Treasury have indicated that any softening of the policy would be focused specifically on mitigating the impact of inheritance tax—widely regarded as the most punitive element of the changes—while keeping the broader reform intact.

With Mittal, Beaufour, and others already exploring exit strategies, the government is expected to signal its intentions in the coming months, ahead of the policy’s implementation in April. Until then, advisers say the uncertainty alone is fuelling further departures, adding urgency to the debate over how far Labour is prepared to go to keep Britain attractive to global wealth.

Read more:
Rachel Reeves reconsiders non-dom tax changes to halt exodus of wealthy individuals

Global investors are increasingly turning their backs on US stocks and the dollar, shifting their focus toward eurozone equities and emerging markets, according to the latest Bank of America (BoA) fund manager survey.

The closely watched monthly poll of 190 institutional investors overseeing a combined $523 billion in assets reveals a decisive rotation away from American assets following the turbulence caused by President Trump’s renewed trade tariff threats in April. While global confidence has largely recovered from the initial shock, sentiment toward the US remains muted — with dollar holdings now at their lowest levels in two decades and allocations to American equities sharply reduced.

A net 35 per cent of respondents said they were underweight in US stocks, the highest level of scepticism toward American equities in recent memory. By contrast, the eurozone has emerged as a key beneficiary of the shift, with a net 35 per cent overweight in continental European shares. Meanwhile, emerging markets are also attracting strong inflows as risk appetite gradually returns.

The survey, conducted between 6 and 12 June, captures a moment of cautious optimism. It followed a partial easing of US-China trade tensions, though before the recent flare-up in Middle East hostilities. The average investor cash balance dropped from 4.8 per cent in April to 4.2 per cent in June — a signal that many fund managers are moving back into risk assets and away from the safety of cash.

BoA’s analysts describe the post-April rally as driven by what they dubbed the “Taco trade” — a cynical nod to investors’ belief that “Trump Always Chickens Out” after making initial aggressive threats. Markets have responded with gusto. Since the low point on April 8, the S&P 500 has surged 20.6 per cent, while the FTSE 100 and Stoxx Europe 600 have also gained 15 per cent and 15.4 per cent, respectively.

Despite the broader recovery, UK equities remain out of favour, with only a modest improvement in sentiment. The survey shows a net 4 per cent of global investors are still underweight UK stocks, though that figure is less negative than much of the past 25 years. “People are clearly getting less pessimistic about the UK, but it is still missing out on the surge of confidence seen for the rest of Europe,” said Andreas Bruckner, European equity strategist at BoA.

Perhaps the most striking data point in the survey is the scale of the shift away from the US dollar. BoA found that investors are now the most underweight on the greenback in two decades, a sign of mounting concerns about US macroeconomic risks and long-term competitiveness. The dollar’s role as a global reserve currency remains unchallenged for now, but the figures suggest its reputational appeal is weakening among institutional capital allocators.

That sentiment is echoed in longer-term expectations. When asked which asset class or geography would deliver the best returns over the next five years, 54 per cent chose non-US equities, while just 23 per cent backed US stocks. Gold came in third, at 13 per cent, suggesting some residual caution remains baked into portfolios.

One of the most encouraging findings is the sharp turnaround in economic sentiment. Back in April, 42 per cent of investors polled thought a global recession was likely. That figure has now swung to a net 36 per cent who think a recession is unlikely — a remarkable reversal in just two months.

Still, recession remains the top “tail risk”, cited by 47 per cent of respondents. Other perceived threats include a resurgence of inflation leading to higher US interest rates (17 per cent), a bond market crash (16 per cent), and a potential dollar crash (11 per cent) caused by international buyers abandoning US assets.

BoA’s findings add to growing evidence that investors are hedging against American economic volatility by diversifying into alternative markets — particularly those in Europe and Asia that appear to be benefiting from relatively more stable policy environments.

The challenge for the US now lies in restoring confidence amid ongoing geopolitical tensions and domestic fiscal pressures. With President Trump’s trade rhetoric continuing to cast a long shadow over market sentiment, investors appear more inclined to seek opportunities beyond US borders — even as stock indices near all-time highs.

Whether this rotation proves to be a temporary correction or the beginning of a more structural shift in global capital flows remains to be seen. But for now, the message from institutional investors is clear: the era of unchallenged US exceptionalism is on pause — if not under full review.

Read more:
Global investors ‘turning away from US stocks and dollar’ amid Trump-era market unease

If it sounds like a conspiracy theory, that’s because it almost was—until the FBI got involved.

Before A Crypto Tale – Checkmate was a film in development, it was the reality that nearly ended Enzo Zelocchi’s life. A Hollywood actor, producer, and entrepreneur, Zelocchi wasn’t chasing a plotline—he was surviving one. In 2018, after launching the early stages of a healthcare platform called A-Medicare, he became the central target of a tangled network of cybercriminals, terrorists, and corrupt law enforcement officers, all with one goal: stealing his encrypted Bitcoin wallet—and silencing him in the process.

The players were real. The threats were violent. And the conspiracy ran deeper than anyone imagined.

The Criminal Network No One Saw Coming

It started with two cybersecurity experts—on paper, just contractors hired to help draft a white paper for A-Medicare’s blockchain component. In reality, they were affiliated with UGNAZI, an underground hacktivist group infamous for high-profile data leaks, identity theft, and coordinated cyberattacks.

One of those contractors, Troy Woody Jr., would later flee to the Philippines, where he and his accomplice Mir Islam (known online as “Josh the God”) were arrested for the murder of Woody’s girlfriend, Tomi Masters. The body was found taped up and dumped in a river. The motive? She wanted to return home, and she knew too much.

But that was just the surface. Mir Islam, a U.S. fugitive and ISIS affiliate, had been sending threats to Zelocchi through encrypted messaging platforms. The demands were clear: surrender the password to the Bitcoin wallet, or face devastating consequences. It wasn’t just about money—it was about erasing a man who stood in their way.

The Man They Couldn’t Intimidate

Zelocchi didn’t cave. Instead, he documented everything. He handed over evidence to U.S. Marshals, connected with intelligence operatives, and began tracking the same men who were hunting him. What followed were months of escalating attacks: stalking, false lawsuits, cyber defamation, and a coordinated effort to smear his name in the press, including a slanderous article planted in TMZ.

But the most brazen moment came when Zelocchi was nearly kidnapped at gunpoint at a gas station in Riverside County. According to reports and witness statements, two armed men—later identified as Sheriff’s Deputies—jumped out of a black SUV and attempted to force him inside. Zelocchi resisted, physically fought off both men (twice his size), and ran bleeding into the gas station to call the police. It didn’t end there. Months later, armed men broke into his apartment during the night. Zelocchi, anticipating the move, fired back.

Why the Silence?

Despite the gravity of the threats and the eventual arrests, coverage of the story was curiously limited during the last months of the Biden administration. Some outlets hesitated to touch the case. One reason: the political discomfort around Adam Iza (also known as Ahmed Faiq), a co-conspirator and ISIS sympathizer whose family had immigrated from Iraq under the Obama administration with US tax payer money. Others balked at the layers of local law enforcement corruption, fearing blowback.

But behind the scenes, Zelocchi continued to pursue justice. A federal civil lawsuit was filed against Adam Iza and his criminal organization that includes members of the LA and Riverside Sheriff’s Departments. Meanwhile, investigative documents revealed that inmates like Mir Islam and Troy Woody were still running operations from inside their cells, using smuggled laptops and cell phones while detained for murder in the Philippines.

A Script Pulled from Hell—and Turned Into Firepower

Checkmate is more than a movie title. It’s the move Zelocchi made to take control of his own story. After withstanding everything from murder plots to psychological warfare, he decided the best way to dismantle the silence was to put the truth on screen.

The emotional cost has been steep. Friends were threatened. His reputation was dragged. His family lived in fear. But Zelocchi emerged not as a victim, but as a man with evidence, strategy, and now, a film.

As development continues on A Crypto Tale – Checkmate, the film is set to shine a harsh light on the blurred lines between crypto anarchy, domestic terrorism, and institutional failure. It’s not fiction—it’s the part of America’s story no one wanted to admit happened.

And Enzo Zelocchi? He’s making sure it won’t be forgotten.

Read more:
ISIS Terrorists, Dirty Deputies, and Cryptocurrency: The Shocking True Story Behind ‘A Crypto Tale – Checkmate’

When you’re running a charitable organisation, your primary focus is, understandably, on the impact you’re making. You put your energy into organising fundraising events, collecting donations, and delivering meaningful change. But what often gets overlooked is what happens after the fundraiser ends, which includes how you engage with donors and use their data.

Without continued engagement, donors may forget about your organisation or feel disconnected from the impact of their contributions. And when the next fundraising event rolls around, they might not be motivated to give again.

Many growing charities are doing the best they can with limited time and resources. But it’s easy to get caught up in the day-to-day work and forget about the very people funding it.

In this article, we’ll explore some common gaps in donor engagement and data use and share simple, actionable steps your charity can take to use donor data more effectively and build lasting relationships.

Relying on Spreadsheets for Far Too Long

Many small charities start with a single spreadsheet to track donations and supporter details. It works well at first, but can become cumbersome over time due to certain limitations inherent in spreadsheets. They don’t alert you when details are outdated or help segment donors so that you can personalise your appreciation messages to them.

However, there are some free CRM for not for profits available that can help your organisation move from spreadsheets to a more advanced system that will also help with communications.

Treating All Donors the Same

Every donor is motivated by a different story, and every supporter wants different kinds of updates. Many charities make the mistake of sending a standard emailer to all their donors, forgetting that donor relationships are a two-way street. When you don’t personalise your communications using names or referencing something about your shared past, people start to feel like just another number on a mailing list.

That’s why donor segmentation is so important for charitable organisations. A CRM system can help you craft those personalised messages that make your supporters feel valued and connected!

Forgetting to Clean and Validate the Data

It’s easy for data errors to pile up, like misspelt names, duplicate records, or outdated addresses. These small issues can lead to big problems, such as thank-you letters being sent to the wrong place or incorrect Gift Aid claims.

That’s why regular data validation and cleaning should be part of your routine. While some CRM systems can flag errors automatically, it’s still up to your team to review and fix them. Clean, accurate data leads to more effective communication and smoother fundraising efforts.

Focusing Too Much on Numbers

We know it’s tempting to create an email that highlights the impressive numbers showcasing the impact of your charity. While those statistics are important, they don’t always create an emotional connection with your donors. People want to help those in need and support the greater good.

That’s why it’s so powerful to share personal stories, like those of one family or one child, rather than just focusing on the big data. When you highlight individual experiences, you’re more likely to inspire donors to give again. So remember, balancing your impactful data with heartfelt stories can really make a difference!.

Communication Updates

Let’s say there was a past donor who no longer wishes to donate and has unsubscribed from your mailing list. Imagine their frustration when they continue to receive communications from you, even after unsubscribing years ago. They are also more likely to discourage people in their circle from donating towards your cause because of this.

While it’s always tough losing a donor, it’s still important to respect their preferences. It creates a bond of trust with the donor because they know you’re listening.

Using Data Without an Approach

Donor data shouldn’t just sit in a system waiting for someone to look at it. If you’re not using it to understand trends, spot lapsed donors, or evaluate which campaigns are working best, then you’re missing out on huge opportunities. This data should help you make fundraising decisions.

You can find answers to questions like ‘what is the average time before people disengage?’ and ‘what’s the best time of the year to ask for support?’ simply by analysing the data.

Summing It Up

Managing donor data is probably not one of your top priorities when you’re running a charitable organisation because all your efforts are directed towards helping real people. That said, using your donor data wisely doesn’t need to divert your attention from your core mission.

When you make these small changes to the way you handle donor data, you’ll form stronger donor relationships and carry out more impactful fundraising. Initially, it might feel like a lot of effort, but you’re building towards a more sustainable relationship with your donors.

Read more:
What Growing Charities Get Wrong About Donor Data

Buying a home in Italy, whether it’s a countryside farmhouse or a historic city center apartment, remains a goal for many investors. Several factors contribute to the growing interest in Italy’s real estate, including still-competitive prices compared to other countries, specific tax incentives and the widespread adoption of remote work.

However, before finalizing the purchase, it is essential to review market data, understand legal regulations and estimate maintenance costs to determine whether the property serves as a capital protection tool or reflects a genuine plan for permanent relocation.

The real estate market in Italy

Searching for Italy houses for sale offers access to thousands of listings on specialized portals. The supply remains abundant in small villages and rural areas, while in the most sought-after art cities, availability is limited and sale times are short.

Milan and Florence lead the high-end market with moderate price increases, while regions such as Abruzzo, Molise and Basilicata offer large spaces at affordable prices. Coastal areas in Puglia and the islands of Sicily and Sardinia show a balanced mix of tourist and long-term residential demand, making financial planning more predictable.

The economic reasons behind the investment

For many buyers, a home in Italy acts as a store of value during times of financial volatility. There is a high level of legal security, thanks to the strong notarial system and transparent registration rules.

Moreover, those using stronger currencies than the euro gain an exchange rate advantage that can translate into larger properties or higher-end finishes within the same budget. Short- or medium-term rental income—especially in cities with strong tourist or student traffic—can cover regular expenses and municipal taxes, thus improving overall yield.

Unlike purely financial instruments, real estate retains tangible utility: it can host family holidays, provide a base for remote workers or become a primary residence after retirement.

Lifestyle motivations

For many investors, the decision goes beyond return on investment. The temperate climate, public healthcare system and extensive rail and airport networks make Italy ideal for extended stays.

For example, cities like Florence offer international schools and high-level cultural services, while rural areas in Tuscany, Umbria or Le Marche satisfy those in search of peace, nature and high-quality local food products.

The slower pace of life compared to global financial hubs encourages a better work-life balance, without sacrificing technology infrastructure—broadband coverage, for instance, expands every year in many medium-sized towns.

Procedures, requirements and taxes

The process begins with a purchase offer, followed by a deposit (caparra confirmatoria). This step locks in the price and sets deadlines for the final deed. The notary conducts checks on mortgages and urban compliance—an essential step to avoid future risks. The main taxes include:

Registration tax – 2% on the cadastral value if the buyer becomes a resident within 18 months; otherwise, the rate rises to 9%;
VAT – applicable only when buying from a developer; standard rate is 22%, reduced to 10% if the property qualifies as a primary residence;
IMU – municipal tax due on second homes, varying according to the local rate set by each municipality.

Rental income is subject to a substitute tax, cedolare secca, at 21% (or 10% in high-density municipalities), with the possibility of deducting documented costs.

Read more:
Buying a second home in Italy: safe haven or lifestyle choice?

In 1992, a young history graduate walked nervously through the doors of NatWest’s imposing headquarters. She had no grand plan to become the first woman to lead a major UK bank. In fact, she thought she’d be there for maybe two or three years before moving on to something else entirely.

“The building looked quite intimidating,” Dame Alison Rose recalls of that first day. “I had no idea what I was getting into.”

Thirty years later, she would make history as CEO of that same institution. But her journey to the top wasn’t about plotting a careful ascent or following a predetermined career map. It was about staying curious, learning from everyone around her, and focusing on doing the next job well rather than positioning herself for the one after that.

Her story challenges everything we think we know about leadership development. The most effective leaders, it turns out, aren’t necessarily those who chart their course from day one—they’re the ones who remain genuinely committed to learning and growing, no matter where that path leads them.

The Intimidating Beginning

That first day felt “like the first day of school again,” Dame Alison remembers. The mix of excitement and terror that anyone starting a new career will recognise.

Banking, she quickly discovered, was “surrounded by jargon.” You could study it from the outside, but “it’s only really when you get to do the job you understand what it’s about.”

Her plan was modest. Stay for a couple of years, learn what she could, then figure out what came next. She never imagined she’d still be there three decades later, much less running the place.

“I really thought I’d be in banking for two to three years and then go and do something else,” she admits.

Learning from Multiple Masters

What transformed Dame Alison’s uncertainty into expertise was NatWest’s graduate programme structure. As an analyst associate, she found herself working with several managing directors, each with completely different approaches to leadership.

“They’re all completely different and they all have completely different ways of doing things,” she observed. At first, this was maddening. One person would ask her to tackle a project one way, another would want it done entirely differently.

But then she realised something important. This wasn’t a problem—it was an opportunity.

“Actually, it was a brilliant learning experience because, as you went through, you would… I’m a great magpie in that you’d see different ways of people doing different things and you think, ‘Oh, that’s a really clever way of dealing with that situation.’”

The “magpie” approach became her secret weapon. Instead of trying to copy one particular leader’s style, she collected the best techniques from everyone she worked with. She borrowed what worked, discarded what didn’t, and slowly built her own leadership philosophy from the ground up.

This organic approach to development stands in sharp contrast to more formulaic leadership training programmes. Dame Alison learned by watching, absorbing, and adapting—a process that would serve her well throughout her career.

The Team Sport Revelation

One of her most important early discoveries was about the nature of banking itself.

“The most important thing that I learned and found, which has been a big appeal factor, is it’s very much, banking is very much a team-based sport,” she reflects.

This insight shaped everything that followed. Her career naturally gravitated toward “those areas which were very much about teams working together for an outcome rather than the very individualistic nature of other areas of the bank.”

It’s a philosophy she carried all the way to the CEO suite. “Running a bank is a team sport,” she would later say. “You really succeed by being part of a team.”

The Accidental CEO

Perhaps the most remarkable aspect of Dame Alison’s journey is that she never actually set out to become a CEO at all.

“I had no concept when I joined that I would be CEO,” she says. “I didn’t have a 5-year plan or a 10-year plan, it was what was the next most interesting job.”

Her HR team, she jokes, “always hold their head in their hands sometimes when I say” this. But it was true. Rather than plotting her path to the top, she made decisions based on one simple criterion: was the next opportunity more interesting than her current role?

“It was always for me, the next job was more interesting, the next challenge was more interesting… And it was always an interesting challenge and it was always with great people.”

This approach—focusing on the immediate challenge rather than long-term positioning—kept her engaged and growing. It also freed her from the kind of political manoeuvring that can trap ambitious executives in roles that advance their careers but don’t actually develop their capabilities.

Her advice distils this philosophy into something anyone can apply: “Work with great people, work with great teams, have jobs that challenge you.”

Learning Through Mistakes

Dame Alison’s journey wasn’t without its share of humbling moments. She remembers staying up late working hard on reports, only to have them returned with feedback that they weren’t “the right tone” or “the right approach.”

Rather than being discouraged, she treated these setbacks as learning opportunities. This willingness to accept feedback and learn from errors would become central to her leadership philosophy.

Years later, as CEO, she would articulate this understanding: “The thing about being a CEO is, when you win, it’s the team’s success. When you lose, it’s the CEO’s fault. You have to recognise that your role is to allow other people to be successful and to shine.”

This mature perspective on leadership responsibility—taking blame while sharing credit—likely developed through those early experiences of making mistakes and learning from them.

The Evolution of Mentorship

While Dame Alison didn’t have formal mentors when she started, she came to appreciate their importance as her career progressed.

“As I’ve gone through different periods in my career, I’ve had mentors both within the bank and external to the bank and used them quite extensively,” she explains.

She found mentors particularly valuable during moments of career risk-taking. “Certainly as my career has grown at different points of taking risk in career direction, I’ve relied on mentors and role models to help me with that.”

Her approach to seeking guidance was refreshingly honest and vulnerable: “I don’t know what I’m doing. What should I do? Is this a good idea? Is it not a good idea? Help, it’s not going right. Oh my god, I’ve made a mistake. What do I do?”

This openness to admitting when she needed help demonstrates the kind of self-awareness that would later make her an effective leader.

Developing Authentic Leadership

Through all these experiences, Dame Alison developed strong convictions about what leadership should and shouldn’t be. The worst advice she ever received? “Try and be like someone else.”

Instead, she advocates for authenticity over imitation. “You develop your own leadership style, you sort of borrow from other people, and then you find yourself,” she explains.

Her leadership philosophy centres on several key principles that emerged from her decades of experience: authenticity (“Go for it, believe in yourself, and just be yourself”), team orientation (recognising that success comes through collective effort), continuous learning (approaching each challenge as an opportunity to grow), and maintaining perspective (“Don’t sweat the small stuff, it is nothing in the arc of a career”).

The Power of Perspective

One of Dame Alison’s most valuable pieces of advice reflects the wisdom gained through her long career: “Don’t sweat the small stuff, it is nothing in the arc of a career. Keep your perspective on things.”

This ability to distinguish between temporary setbacks and genuine career challenges likely developed through her three decades of navigating various obstacles and opportunities. It’s the kind of perspective that only comes from having weathered multiple storms and understanding that most crises that feel overwhelming in the moment are actually just speed bumps when viewed from a longer timeframe.

Breaking Barriers Through Excellence

Dame Alison Rose’s historic appointment as the first female CEO of a major UK bank wasn’t the result of a campaign for representation. It was the natural culmination of thirty years of excellent performance and authentic leadership development.

“I should not be the only female CEO in banking,” she has said. “There should be more female CEOs across business because there are some amazingly talented women out there.”

Her success opened doors for others, but it came through demonstrating competence and leadership rather than positioning herself as a pioneer. The barrier-breaking was almost a by-product of simply doing excellent work consistently over time.

Lessons for Today’s Leaders

Dame Alison’s transformation from uncertain graduate to groundbreaking CEO offers several crucial insights for emerging leaders:

Don’t obsess over the master plan. “It was all about trying to learn,” she says. Not having a detailed career roadmap can actually be liberating, allowing you to pursue unexpected opportunities and develop skills you never knew you needed.

Learn from everyone. Her “magpie” approach to collecting insights from various leaders and situations proved invaluable. Every person you work with has something to teach you, even if it’s what not to do.

Focus on the next challenge, not the next promotion. Excellence in your current role naturally leads to better opportunities. Rather than constantly positioning yourself for advancement, concentrate on doing exceptional work where you are.

Embrace the team mindset. Understanding that leadership is fundamentally about enabling others to succeed is crucial for long-term effectiveness.

Seek authentic mentorship. Don’t be afraid to admit when you need guidance. The most successful leaders are those who continue learning throughout their careers.

Keep perspective. Most of what feels like career-defining crises today will barely register as footnotes years from now.

Three decades after that nervous first day, Dame Alison Rose’s journey reminds us that the best leaders often aren’t those who mapped out their ascent from the beginning. They’re the ones who stayed curious, remained authentic, and understood that exceptional leadership is ultimately about helping others succeed.

“It was all about trying to learn,” she reflects. That same curiosity and commitment to growth continues to drive her leadership today—and it’s perhaps the most transferable lesson of all.

Read more:
From Graduate to Groundbreaker: Dame Alison Rose’s 30-Year Journey in Banking Leadership

The UK’s largest producer of high-purity carbon dioxide has warned of an imminent shutdown that could cause severe disruption to industries reliant on commercial CO₂, after being blindsided by a recent UK-US trade deal that removes tariffs on American bioethanol imports.

Ensus, which operates a major bioethanol plant at Wilton on Teesside, said it may be forced to close its facility within weeks unless the government steps in with tens of millions of pounds in emergency subsidies. The plant, which uses British-grown wheat to produce bioethanol for E10 petrol, also generates a vital by-product: high-purity CO₂. This gas is critical for numerous sectors, including food and drink manufacturing, healthcare, and the nuclear industry.

Ensus says the government’s trade deal has jeopardised the entire domestic bioethanol industry. By agreeing to remove a 19 per cent import tariff on up to 1.4 billion litres of US bioethanol per year—roughly the UK’s total demand—the deal has made it almost impossible for British producers to compete. US manufacturers already benefit from lower crop and energy costs, and the sudden influx of cheap imports has put UK-based plants like Ensus and Vivergo Fuels on the brink of closure.

Grant Pearson, chairman of Ensus UK, said the situation had become critical: “We are at the 11th hour and the government urgently needs to find a solution to a crisis of its own making. We need a solution which will not only save these skilled jobs on Teesside, but also prevent a catastrophic knock-on effect in other vital sectors of the economy.”

Ensus is understood to be weeks away from deciding whether to commit funds for a scheduled maintenance period in September—without government backing, that investment may not happen, effectively sealing the plant’s fate.

The potential closure is not just a blow to the 100-plus staff at the Teesside site, but could also severely affect national CO₂ supply, which is already under strain. Following the shutdown of CF Fertilisers’ plant in Billingham in 2022, Ensus became the UK’s largest domestic CO₂ supplier, providing around 30 per cent of national demand. With imports already meeting the majority of the UK’s CO₂ needs, the loss of Ensus would leave the country dangerously exposed to global shortages.

While the government has highlighted that bioethanol supply itself is not under threat due to healthy global stocks, Ensus is pushing attention towards the wider consequences of domestic production loss. Its CO₂ is used not only to carbonate drinks and preserve packaged foods but also in NHS operating theatres and for cooling systems in nuclear facilities.

The situation is echoed at Vivergo Fuels, a bioethanol plant on Humberside owned by Associated British Foods. While Vivergo does not supply CO₂, it too has warned that without immediate support, it will begin winding down operations within a fortnight.

Industry sources say the sector is lobbying the government not only for short-term financial aid but also for longer-term policies to bolster demand for British bioethanol. Proposals include increasing the bioethanol proportion in petrol blends beyond E10 and encouraging the use of bioethanol in sustainable aviation fuels (SAFs). However, these initiatives would take years to implement—too late to save the plants at risk now.

The government has defended the trade agreement, arguing that it will save thousands of jobs across other sectors and is part of a broader strategy to deepen economic ties with the US. However, critics say the deal was rushed through without adequate consideration of its impact on domestic bioethanol producers and the CO₂ supply chain.

A government spokesperson said: “We are working closely with the ethanol industry to find a way forward — and the Business and Transport Secretaries met with representatives from the bioethanol industry last week to discuss their concerns.”

Despite those meetings, no concrete support has yet been announced, and time is running out. Ensus’s warning comes against the backdrop of several recent CO₂ supply scares, with UK food and drink firms frequently sounding the alarm over shortages that can disrupt production at short notice.

Without immediate government intervention, Ensus’s closure would not only mean the loss of skilled manufacturing jobs on Teesside, but would also leave critical UK industries scrambling for access to a gas that plays an invisible but indispensable role in daily life.

Read more:
Give us subsidies or lose CO2 production, warns UK’s biggest bioethanol firm