Business

The chief executive of Yahoo has sounded the alarm over the rise of artificial intelligence, warning that AI’s use of copyrighted content could wipe out publishers unless tech companies change course.

Jim Lanzone, who runs the American online publishing giant, said Yahoo was one of the most heavily “pilfered” sources of material used to train AI models. He criticised the way AI systems scrape articles without permission, only to repackage them for users without linking back to the source.

“Unlike search, where the business model was an understood agreement – the engine aggregates and then sends traffic downstream to the publisher – the AI model takes content without consent. It’s like signing away your future existence,” Lanzone told reporters.

AI companies rely on vast quantities of data, including books, images and journalism, much of which is protected by copyright. Media groups argue this is an unauthorised takeover of their work that threatens their revenue. Several lawsuits are under way, including a high-profile case by The New York Times against OpenAI.

Some firms, including Reddit and Rupert Murdoch’s NewsCorp, have signed licensing deals with AI developers. But Lanzone said these agreements were damage control rather than genuine partnerships: “The first choice for any publisher would have been for their content not to be taken in the first place.”

Yahoo, which remains one of the top five most-visited websites in the world, takes stories from agencies like Reuters and AP alongside its own journalism. Its model relies heavily on ad revenue driven by traffic – which Lanzone said is being eroded by AI “short-circuiting” the link between readers and publishers.

Since being taken private by Apollo Global Management in a $5bn deal in 2021, Yahoo has tried to strengthen its role as a major aggregator and content provider. Lanzone, who previously ran Tinder and CBS Interactive, said the company would remain “pro-publisher and pro-open web”.

The Yahoo boss also hinted that the company is preparing to unveil its own take on the future of online search. “We’ll continue to shine a light on the need for sustainable traffic for the open web,” he said. “Yahoo has always been about partnerships with publishers. Our future depends on theirs.”

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Yahoo boss warns: AI is a ‘threat to publishers’ very existence’ as copyright battle heats up

Sir Richard Branson has been urged to rethink his plan to run trains through the Channel Tunnel, after the rail minister said rival bids to Eurostar must commit to serving Kent and east London stations.

Virgin Group is one of several operators hoping to break Eurostar’s 30-year monopoly on the route, but Lord Hendy of Richmond Hill warned that proposals focused solely on London St Pancras risk falling short.

Speaking at an event in Ashford, Kent, Lord Hendy said bidders must show “the potential for services to be reinstated” at Stratford International, Ebbsfleet and Ashford stations – a move he said could add £500m a year to the visitor economy.

Eurostar dropped calls at Ebbsfleet and Ashford in 2020 and has never served Stratford, but border facilities remain in place at the Kent stations.

Virgin’s blueprint involves direct trains from St Pancras to Paris, Brussels and Amsterdam from 2030, with possible future expansion deeper into France, Germany and Switzerland. Spanish operator Evolyn, which has teamed up with Italy’s Trenitalia, has a similar St Pancras-only plan.

By contrast, newcomer Gemini Trains – which has struck a marketing deal with Uber – wants Stratford as its London terminus and a stop at Ebbsfleet. Its chief executive, Adrian Quine, argued this would give Gemini a catchment of nearly 20 million people, thanks to 5,000 parking spaces and links to the M25 and the new Lower Thames Crossing.

“Virgin is just copying Eurostar,” Quine said, insisting Gemini’s inclusion of Kent stations gave it a decisive edge.

The Office of Rail and Road (ORR), which regulates Channel Tunnel access, is due to decide by the end of October which operator can use limited maintenance capacity at Temple Mills depot in east London. Virgin, Gemini, Evolyn and Trenitalia are all in the running, alongside Eurostar’s own bid to retain exclusivity.

Lord Hendy has written to the ORR stressing that its evaluation should not be limited to depot logistics but must also weigh the economic impact of serving Kent stations.

Virgin declined to comment on the minister’s remarks.

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Branson told to rethink Eurostar rival bid as rail minister warns Kent stations ‘must be served’

Reform UK has urged Chancellor Rachel Reeves to seize a £20bn “lifeline” from the Bank of England by overhauling its money-printing programme, in a move the party says could plug much of Britain’s looming budget black hole.

Richard Tice, Reform’s deputy leader, revealed he had pressed the case directly with Bank of England governor Andrew Bailey during a meeting this week, describing the encounter as “very civil, polite and courteous”. Party leader Nigel Farage also attended.

The call focuses on the Bank’s programme of quantitative easing (QE), under which it created £895bn to buy government bonds during the financial crisis and Covid pandemic. While the scheme generated £125bn in profits for the Treasury, it also left the government liable for any losses.

With interest rates rising and bond values falling, those losses have ballooned since 2022. Under the Bank’s current “quantitative tightening” policy, it is now selling bonds at a loss — hitting the public purse with an estimated £20bn annual bill.

Reform argues that halting bond sales and paying less interest on the money created through QE would save the Treasury around £20bn each year. Tice said the Bank’s approach was “pushing up borrowing costs” and unfairly leaving taxpayers to shoulder the burden.

“If politicians gave the Bank a different steer, they could do it tomorrow,” Tice claimed.

Wider pressure on Reeves

The intervention comes as Reeves faces a potential £30bn hole in the public finances ahead of her November Budget. Economists say productivity downgrades from the Office for Budget Responsibility will force her into either deep tax hikes or spending cuts.

The New Economics Foundation (Nef), a left-leaning think tank, has echoed Reform’s argument. It warned that the Osborne-era deal tying the Treasury to Bank of England losses is “toxic” for fiscal policy and should be scrapped, with the Bank absorbing losses itself — as happens at the US Federal Reserve and the European Central Bank.

Nef economist Dominic Caddick said: “Instead of billing the Treasury, the Bank of England could absorb its own losses. That would free £20bn for the Chancellor without undermining monetary policy.”

Other think tanks have also joined the debate. The Institute for Public Policy Research (IPPR) has suggested imposing a new levy on commercial banks to claw back £8bn a year, while simultaneously ending bond sales at a loss to save another £12bn.

Reform, however, has set out how it would use the £20bn saving: raising the tax-free personal allowance to £20,000 and slashing corporation tax.

With Reeves under pressure from both the Left and Right, the Bank of England’s QE programme has become an unlikely political battleground — one that could shape November’s fiscal showdown.

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Reform UK tells Reeves to grab £20bn lifeline From Bank of England and scrap tax hikes

For many SMEs, growth often hinges on one big question: hire from outside your organisation or invest in who you already have?

In today’s talent market – shaped by changing expectations, rising recruitment costs and tighter budgets – the answer is increasingly clear. Supporting internal development doesn’t just boost retention and reduce churn, it helps businesses build confident, capable teams who understand the company, live its values and are ready to lead it into the future.

At Chubb Fire & Security, we call this approach Building Great Leaders – our long-term commitment to helping people grow, wherever they are in the business. From apprenticeships and mentoring to personalised learning and internal mobility, we aim to equip every employee to take the next step in their career.

This isn’t just good for culture. It’s good for business.

Why Internal Development Pays Off

The case for growing talent from within has never been stronger.

According to LinkedIn’s Workplace Learning Report 20251, career progression is the top motivation for learning, and organisations that are classified as “career development champions” – those with robust internal development programmes – tend to outperform others on key metrics like retention, engagement and internal mobility.

Meanwhile, a 2025 UK Government rapid review2 found strong links between learning and development and improved employee engagement, retention, wellbeing and job satisfaction – particularly when learning and development  opportunities were clearly connected to individual goals and supported by managers.

For SMEs, that’s a major opportunity. Smaller teams mean greater visibility, faster decision-making and more flexibility to shape roles around people, rather than trying to fit people into roles.

How Chubb Builds Talent from Within

At Chubb, we believe that everyone is a leader and everyone deserves a great leader as well. That belief underpins our approach to internal development, which is built around four key elements:

Career Path Model

Our transparent Career Path Model acts as a development roadmap. It shows employees the roles available, the skills needed and how to progress – whether that means stepping up, sideways or into a completely new function.

This visibility helps people feel in control of their growth. As our People Playbook puts it:

“This model works like a map to guide your growth… helping you shape a career that suits your goals and potential.”

Mentoring and Leader Labs

Our mentoring programme connects employees with colleagues who’ve walked the path before them – helping them build confidence, networks and skills. Meanwhile, Chubb’s Leader Labs offer targeted development opportunities across different levels and disciplines.

Individual Development Plans (IDPs)

We support employees and their managers to create IDPs that are both structured and flexible. These plans are backed by access to Chubb’s Learning Hub, LinkedIn Learning and tailored training aligned to business goals.

Growth in All Directions

We actively encourage lateral moves and cross-functional experiences. At Chubb, career development isn’t just about climbing a ladder – it’s about helping people explore, experiment and evolve.

This multi-path approach helps us build future leaders who know our business and are ready to shape its future.

Four Ways SMEs Can Start Growing Their Own Talent

You don’t need a fully resourced L&D team or a formal framework to start developing internal talent. Here are four simple, scalable ways SMEs can get going:

Start with Conversations, Not Promotions

Development begins with listening. Build a culture where career conversations happen regularly, not just at appraisal time. Ask your team what excites them, what they want to learn and where they see themselves in a year’s time.

Make Learning Part of the Day Job

Support stretch opportunities: a new project, a different client, a cross-department collaboration. Encourage informal shadowing or reverse mentoring. Small learning moments often lead to big confidence leaps.

Bring Structure to the Ambition

Even a one-page development plan can make a big difference. Set goals. Track progress. Create visibility. Most importantly, when someone moves roles internally, tell their story – it sets a powerful example.

Recognise and Reward Progress

Celebrate people who take on learning challenges, support peers or mentor others. Recognition reinforces the message that development matters, even when promotions aren’t immediately available.

The Retention Dividend

When people can see a future for themselves inside your business, they’re far more likely to stay. That loyalty builds continuity, keeps valuable experience in-house and reduces the cost and disruption of external hiring.

In fact, research consistently shows that career development is one of the top reasons people stay within – or leave – a role. According to LinkedIn’s 2025 Workplace Learning Report, many companies are prioritising retention by offering learning opportunities that support clear career paths and internal mobility.

Chubb’s experience reflects that. Many of our senior leaders began their careers in junior or front-line roles and stayed, because they saw real opportunities to grow. That kind of loyalty isn’t accidental. It’s built, day by day, through trust, opportunity and support.

The Bottom Line

Growing internal talent isn’t a nice-to-have. It’s a business strategy.

For SMEs, it offers a cost-effective, culture-aligned way to build skills, drive engagement and prepare for the future. It keeps your best people close and gives them a reason to stay.

At Chubb, our purpose of Building Great Leaders means seeing potential in everyone. It’s not about perfection, it’s about progress. With the right support, people grow – and when people grow, business follows.

Read more:
Why Growing Your Own Talent Is Good for Business

Starbucks is set to close dozens of cafés and slash 900 jobs in a dramatic £750 million restructuring drive designed to revive the struggling coffee giant.

Chief executive Brian Niccol revealed the overhaul in a letter to staff on Thursday, confirming that underperforming stores across North America and the UK would be shut as the world’s biggest coffee chain battles slowing sales. The company would not say how many British outlets face closure, but warned the action was “significant” and would hit both staff and customers.

“This is a more significant action that we understand will impact partners and customers,” Niccol wrote. “Our coffee houses are centres of the community and closing any location is difficult. I know these decisions impact our partners and their families and we did not make them lightly.”

The sweeping plan includes the closure of more than 100 stores in North America, while 900 “non-retail” roles will be axed globally. Starbucks said it would instead focus on upgrading existing outlets with redesigned interiors, more staff hours and enhanced service.

The Seattle-based chain has struggled with a cocktail of problems: slowing demand, boycotts in the Middle East, worker strikes in the US, and fierce competition in the UK from rivals like Gail’s and Greggs. In Britain, Starbucks sales fell from £548m to £526m last year, while losses deepened to £36.2m.

Despite the cutbacks, Starbucks plans to open 80 new UK stores this year, even as others shut. The group employs 5,500 people across more than 500 company-owned stores in Britain.

Niccol, the former boss of Chipotle, was brought in last year to engineer a turnaround. But he has faced backlash over his lucrative $113m pay package and use of a private jet to commute from California to Seattle. Since his appointment, Starbucks shares have dropped by 12 per cent.

The shake-up follows mounting pressure from activist investors and criticism over the chain’s high prices. Global sales fell 2 per cent in the most recent quarter, while the company’s Middle Eastern franchisee was forced to lay off thousands amid boycotts linked to the conflict in Gaza.

In the UK, Starbucks is being squeezed at both ends: premium rivals offering artisanal coffee and cheaper competitors winning budget-conscious consumers.

Unveiling the plan, Niccol said: “We’re investing in green apron partner hours, more partners in stores, exceptional customer service, elevated coffee house designs and innovation to create the future.”

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Starbucks to shut cafés and axe 900 jobs in £750m rescue plan as sales slump and UK losses mount

The gambling market in the UK has always been subject to change, as betting companies look for new ways to appeal to the public.

From the emergence of thousands of betting shops in the 1960s to the internet revolution, new trends have a habit of emerging and changing the way we gamble. One of the latest examples comes from Slingo, so what are these games all about?

A Cross Between Slots and Bingo

The basic idea behind Slingo is that the gameplay is like a cross between slots and bingo. This is an interesting hybrid, since these are two of the most popular ways of playing for British players. Bingo has been massive here for decades, with the move to online games at the start of the century providing a fresh new way of playing that helped expand its appeal even wider.

As for slots, they started life as the eye-catching fruit machines that people love to pop coins into. When the first online slots became popular in the 2000s, it was clear that changing technology was turning this into a different experience by adding new themes and features while retaining the simple, classic gameplay.

Slingo is a game of chance, where a random number generator is used to create a series of numbers on every spin. They’re then matched to the numbers on the player’s card. Every winning line that’s completed is called a Slingo and sees the player move up the prize table at the side of the screen.

Branded and Creative Slingo Games

The large number of versions of Slingo online available reveals how this way of playing has made huge progress. One of the most striking elements has been the emergence of branded Slingo games that add an established brand to the game. Deal or No Deal Slingo is based on the TV game show, while Slingo Deadliest Catch was inspired by the reality show about fishing that was a hit on the Discovery Channel.

Other Slingo games have been inspired by diverse ideas from popular culture. Slingo Cash Eruption has a volcano theme, Slingo Rainbow Riches is based on Irish legends and Slingo Da Vinci Diamonds follows on from the successful series of slots of the same name.

A Look Ahead

As the online casino market continues to grow, the Slingo range of games shows how fresh ideas are being brought in, resulting in new gameplay or hybrid experiences like this. We’ve also seen the crash and Plinko genres take great strides in recent times, adding other ways of playing that change the casino industry while providing games that are easy to get to grips with.

We can expect to see Slingo continue to diversify as well. The themes used so far let us see how it’s a versatile game that can be adapted to appeal to many types of players. By giving game developers a new format, the arrival of this game has opened up new possibilities and may also point towards the creation of other hybrid games in the future.

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What Is Slingo’s Role in the Changing UK Online Casino Market?

Artificial intelligence data centres are set to devour a massive share of the world’s electricity growth over the next decade, according to BP’s latest World Energy Outlook.

The oil giant estimates that data facilities powering AI applications will account for 10% of global electricity demand growth by 2035. In the United States, the world’s most advanced AI hub, that figure could skyrocket to 40%, raising urgent questions about the strain on energy systems.

“The seemingly exponential growth in data centres to support AI provides an important new source of energy demand,” said Spencer Dale, BP’s chief economist. “This is especially significant in markets like the US, where power demand growth had virtually stalled.”

BP forecasts total global electricity demand to surge by 40% by 2035 and nearly double by 2050, largely driven by buildings, industry and transport electrification. But the rise of AI adds a new wildcard: data centre consumption is predicted to increase nine-fold by 2050, climbing from 1% of global usage in 2023 to 5% of what will then be a far larger total.

The report warns that the impact of AI could extend far beyond data centre consumption. On one hand, productivity gains might drive global energy demand 15% higher by 2035 — an impact 20 times greater than data centres alone. On the other hand, AI could slash demand through efficiency improvements in everything from industrial processes to building heating.

Despite its green energy pivot in recent years, BP’s latest analysis underscores its return to a heavier focus on oil and gas. The report delays the timeline for peak oil demand, revising projections upwards. BP now expects oil demand to reach 103.4 million barrels per day by 2030, up from last year’s forecast of 101.2 million.

The group also pointed to consumer behaviour as a key factor: motorists are holding on to older petrol cars for longer, with the average age of vehicles rising from 12 to 15 years over the past decade. That shift, combined with stubbornly high demand for petrochemicals, means oil consumption will remain elevated for longer than previously thought.

On the current trajectory, global emissions will fall only 25% by 2050, far short of the 90% cut required to meet the Paris climate accord’s 2C target.

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AI data centres to swallow 10% of global power surge — with US demand soaring to 40% by 2035, warns BP

A 31-year-old cryptocurrency entrepreneur has stunned the tech world by raising more than £750m ($1.1bn) to build Britain’s biggest artificial intelligence data centre — despite his company never having completed one before.

Josh Payne’s start-up Nscale, founded just 18 months ago, has secured heavyweight backing from Nvidia, Nokia and Norwegian investment giant Aker. The deal catapults the business into the ranks of Britain’s most valuable AI players, with an implied valuation of $3bn.

The Essex-based project, being developed with Microsoft, has been billed as the UK’s largest AI supercomputer. Nscale is also planning a chain of futuristic “Stargate” AI hubs with OpenAI, starting in Newcastle.

Nscale traces its roots back to Payne’s earlier venture, Arkon Energy, a Bitcoin mining outfit. The company has converted some of its crypto mining facilities in Norway into data centres and claims its leadership team has experience building more than 50 such sites.

The group now intends to spend billions on Nvidia’s cutting-edge AI chips to fuel a global network of facilities. Nvidia boss Jensen Huang has personally endorsed Payne, telling him: “I’ll go on record as to say I’m the best thing that’s ever happened to him,” after gifting him a bottle of Johnnie Walker whisky. Huang predicted Nscale could go from “zero to $50bn” in revenues.

Payne said the investment would “rapidly accelerate the build-out of secure, compliant and energy-efficient AI infrastructure”, adding: “Europe needs a hyperscaler, and Nscale is rising to the challenge.”

Technology minister Kanishka Narayan hailed the deal as proof Britain can compete as a global AI hub: “By attracting global expertise and investment, it is building the essential infrastructure for the UK to compete internationally, drive growth, and create jobs.”

Other backers include Fidelity, Blue Owl, Sandton Capital, G Squared, Point72, T.Capital and Dell.

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Crypto entrepreneur raises £750m for Britain’s biggest AI data centre

Ryanair has been accused of turning its back on elderly travellers after confirming plans to scrap paper boarding passes in favour of a digital-only system from November.

The low-cost carrier, led by Michael O’Leary, will force the 40 million passengers who currently rely on printed tickets to switch to using its smartphone app from 12 November. Campaigners said the decision would isolate older customers, with millions lacking the skills or devices needed to navigate the change.

Silver Voices, an over-60s lobby group, branded the move “disgraceful” and argued it amounted to discrimination against those who struggle with technology. Director Dennis Reed said: “They are effectively saying they don’t want older people as passengers. This will cause chaos and isolate people who don’t have smartphones. If someone turns up at the airport without the app, what happens — are they simply turned away?”

Charity Age UK also criticised the plan, warning that it could disadvantage four million Britons who have never used the internet, along with many more who lack modern Android or Apple devices. Caroline Abrahams, charity director, said: “There should always be an alternative way of booking and showing tickets that does not disadvantage those who aren’t online.”

Ryanair originally considered axing paper passes in the summer but postponed the switch after fears of widespread confusion at peak travel times. The airline claims the move will create a “faster, smarter and greener” travel experience, cutting 300 tonnes of waste per year and reducing airport check-in fees. It insists that around 80 per cent of passengers already use its digital app.

For those who lose their phone or whose battery dies after check-in, Ryanair says airport staff will assist free of charge. It also argues that the app is more accessible for some passengers with impaired vision, with screen readers able to read out ticket details.

Despite these assurances, critics accuse the airline of prioritising cost-cutting over customer care. Reed said he would boycott Ryanair himself, urging others to do the same.

The airline becomes the first major European carrier to ban paper boarding passes entirely, with rivals including British Airways, easyJet, Jet2, Wizz Air and TUI still offering printed tickets.

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Ryanair sparks fury as it bans paper boarding passes

Rachel Reeves is facing a mounting revolt from Britain’s business leaders, with chiefs across sectors warning that her tax hikes and labour reforms are throttling investment, driving out wealth, and tipping the economy toward recession.

BT chief executive Allison Kirkby (pictured) warned this week that Britain is already at “peak government-inflicted costs.” Speaking at the Connected Britain conference, she revealed that BT pays ten times more in business rates, energy levies and compliance costs than rivals in Germany or the Netherlands. She said that investors need certainty on fiscal policy but Reeves’s approach risks deterring much-needed capital. The telecoms giant is already on the hook for an extra £100 million annually after the Chancellor’s last budget raised the minimum wage and employer national insurance contributions.

JD Sports boss Régis Schultz has also urged Reeves not to make Britain uncompetitive by further hiking staff costs. Warning of unemployment “going in the wrong direction,” Schultz said young consumers — JD’s key customers — would be hit hardest if labour costs rise again. JD’s profits have slumped as the group faces weak US demand and tariff uncertainty, but Schultz insisted the Chancellor must avoid adding to the pressure: “That is our plea. Don’t increase the cost of labour.”

AO World founder John Roberts issued perhaps the starkest warning, telling the BBC: “We’ve lived through a few recessions in the last 25 years – I think we’re heading into another one.” Roberts slammed Reeves’s workers’ rights bill — particularly “day one” rights for new employees — as a barrier to job creation. He also railed against the government’s tax burden, saying wealth was “leaving the UK in incredible amounts” as entrepreneurs flee.

The restaurant empire of celebrity chef Rick Stein is also struggling. Revenues fell by £1.3m in 2024, and losses more than doubled as customer numbers dwindled. Directors blamed Reeves’s changes to employer national insurance, warning the “service-led nature” of hospitality means the sector is being disproportionately squeezed. With nearly 90,000 hospitality jobs already lost since last October’s Budget, Stein’s managing director Ian Fitzgerald called on Reeves to “ease our financial pressures” in November to avoid further closures.

The warnings add to a drumbeat of concern from across UK plc. From telecoms and retail to hospitality and manufacturing, bosses are painting a picture of rising costs, eroded competitiveness and a fragile economy that could tip into recession if Reeves presses ahead with further tax hikes in November’s budget.

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Britain’s business backlash: CEOs warn Reeves’s tax hikes are pushing UK to the brink