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HK Builder New World Nears $11 Billion Loan Refinancing Deal
HK Builder New World Nears $11 Billion Loan Refinancing Deal

Bloomberg

time32 minutes ago

  • Business
  • Bloomberg

HK Builder New World Nears $11 Billion Loan Refinancing Deal

New World Development Co., one of Hong Kong's most indebted builders, is close to securing a crucial HK$87.5 billion ($11.1 billion) loan refinancing deal, according to people familiar with the matter, the culmination of months of negotiations as it raced to secure a lifeline amid a deepening liquidity crisis. New World has received preliminary consent from all the lenders for the refinancing deal, even from those that had previously resisted, the people said, asking not to be identified discussing private matters. A few of the banks are still working on formal written commitments, the people added.

Iranian Foreign Minister to meet European officials in Geneva on Friday
Iranian Foreign Minister to meet European officials in Geneva on Friday

The National

timean hour ago

  • General
  • The National

Iranian Foreign Minister to meet European officials in Geneva on Friday

Iran-EU talks in Geneva to take place on Friday Major Iranian rocket attack hits Israel's central and southern areas Iran will pay 'full price' after hospital strike, Netanyahu says Israel warns Iranians to leave area near Arak heavy water reactor Trump considers joining as Israel-Iran war enters seventh day Iran offline for more than 12 hours, monitor says In pictures: Israel-Iran conflict

Israel threatens Iran's top leader after missiles damage hospital and wound dozens
Israel threatens Iran's top leader after missiles damage hospital and wound dozens

CTV News

timean hour ago

  • Health
  • CTV News

Israel threatens Iran's top leader after missiles damage hospital and wound dozens

Smokes raises from a building of the Soroka hospital complex after it was hit by a missile fired from Iran in Be'er Sheva, Israel, Thursday, June 19, 2025. (AP Photo/Leo Correa) BEERSHEBA, Israel -- Israel's defence minister overtly threatened Iran's supreme leader on Thursday after the latest missile barrage from Iran damaged a major hospital and hit a high-rise and several other residential buildings near Tel Aviv. At least 40 people were wounded in the attacks, according to Israel's Magen David Adom rescue service. Black smoke rose from the Soroka Medical Center in the southern city of Beersheba as emergency teams evacuated patients. There were no serious injuries in the strike on the hospital. In the aftermath of the strikes, Israeli Defense Minister Israel Katz blamed Iran's Supreme Leader Ayatollah Ali Khamenei and said the military 'has been instructed and knows that in order to achieve all of its goals, this man absolutely should not continue to exist.' U.S. officials said this week that President Donald Trump had vetoed an Israeli plan to kill Khamenei. Trump later said there were no plans to kill him 'at least not for now.' Israel, meanwhile, carried out strikes on Iran's Arak heavy water reactor, in its latest attack on the country's sprawling nuclear program, on the seventh day of a conflict that began with a surprise wave of Israeli airstrikes targeting military sites, senior officers and nuclear scientists. A Washington-based Iranian human rights group said at least 639 people, including 263 civilians, have been killed in Iran and more than 1,300 wounded. In retaliation, Iran has fired some 400 missiles and hundreds of drones, killing at least 24 people in Israel and wounding hundreds. Missile hits main hospital in southern Israel Two doctors told The Associated Press that the missile struck almost immediately after air raid sirens went off, causing a loud explosion that could be heard from a safe room. They spoke on condition of anonymity because they were not authorized to brief media. The hospital said the main impact was on an old surgery building that had been evacuated in recent days. After the strike, the medical facility was closed to all patients except for life-threatening cases, it said. Soroka has over 1,000 beds and provides services to around one million residents of Israel's south. Israeli Prime Minister Benjamin Netanyahu condemned the strike on the hospital and vowed a response, saying: 'We will exact the full price from the tyrants in Tehran.' Iran has fired hundreds of missiles and drones at Israel, though most have been shot down by Israel's multi-tiered air defences, which detect incoming fire and shoot down missiles heading toward population centers and critical infrastructure. Israeli officials acknowledge it is imperfect. Haim Bublil, a local police commander, told reporters that several people were lightly wounded in the strike. Many hospitals in Israel activated emergency plans in the past week, converting underground parking to hospital floors and moving patients underground, especially those who are on ventilators or are difficult to move quickly. Israel also boasts a fortified, subterranean blood bank that kicked into action after Hamas' Oct. 7, 2023, attack ignited the ongoing war in the Gaza Strip. `No radiation danger' after strike on reactor Israel's military said its fighter jets targeted the Arak facility and its reactor core seal to halt it from being used to produce plutonium. 'The strike targeted the component intended for plutonium production, in order to prevent the reactor from being restored and used for nuclear weapons development,' the military said. Israel separately claimed to have struck another site around Natanz it described as being related to Iran's nuclear program. Iranian state TV said there was 'no radiation danger whatsoever' from the attack on the Arak site. An Iranian state television reporter, speaking live in the nearby town of Khondab, said the facility had been evacuated and there was no damage to civilian areas around the reactor. Israel had warned earlier Thursday morning it would attack the facility and urged the public to flee the area. Iran rejects calls to surrender or end its nuclear program Iran has long maintained its program is for peaceful purposes. However, it also enriches uranium up to 60 per cent, a short, technical step away from weapons-grade levels of 90 per cent. Iran is the only non-nuclear-weapon state to enrich at that level. Israel is the only nuclear-armed state in the Middle East but does not acknowledge having such weapons. The strikes came a day after Iran's supreme leader rejected U.S. calls for surrender and warned that any military involvement by the Americans would cause 'irreparable damage to them.' Israel had lifted some restrictions on daily life Wednesday, suggesting the missile threat from Iran on its territory was easing. Already, Israel's campaign has targeted Iran's enrichment site at Natanz, centrifuge workshops around Tehran and a nuclear site in Isfahan. Its strikes have also killed top generals and nuclear scientists. Iran's Foreign Minister Abbas Araghchi said he would travel to Geneva for meetings with his European counterparts on Friday, indicating a new diplomatic initiative might be taking shape. Iran's official IRNA news agency said the meeting would include foreign ministers from the United Kingdom, France and Germany and the European Union's top diplomat. Trump has said he wants something 'much bigger' that a ceasefire and has not ruled out the U.S. joining in Israel's campaign. Iran has warned of dire consequences if the U.S. deepens its involvement, without elaborating. Arak had been redesigned to address nuclear concerns The Arak heavy water reactor is 250 kilometres (155 miles) southwest of Tehran. Heavy water helps cool nuclear reactors, but it produces plutonium as a byproduct that can potentially be used in nuclear weapons. That would provide Iran another path to the bomb beyond enriched uranium, should it choose to pursue the weapon. Iran had agreed under its 2015 nuclear deal with world powers to redesign the facility over proliferation concerns. The reactor became a point of contention after U.S. President Donald Trump withdrew from the nuclear deal in 2018. Ali Akbar Salehi, a high-ranking nuclear official in Iran, said in 2019 that Tehran bought extra parts to replace a portion of the reactor that it had poured concrete into to render it unusable under the deal. Israel, in conducting its strike, signaled it remained concerned the facility could be used to produce plutonium again one day. 'The strike targeted the component intended for plutonium production, in order to prevent the reactor from being restored and used for nuclear weapons development,' the Israeli military said in a statement. The International Atomic Energy Agency, the United Nations' nuclear watchdog, has been urging Israel not to strike Iranian nuclear sites. IAEA inspectors reportedly last visited Arak on May 14. Due to restrictions Iran imposed on inspectors, the IAEA has said it lost 'continuity of knowledge' about Iran's heavy water production -- meaning it could not absolutely verify Tehran's production and stockpile. ------ By Sam Mednick, Natalie Melzer, And Jon Gambrell Melzer reported from Tel Aviv, Israel, and Gambrell from Dubai, United Arab Emirates. Associated Press writer Melanie Lidman in Tel Aviv contributed.

Victoria council to receive report tackling declining social order in B.C.'s capital
Victoria council to receive report tackling declining social order in B.C.'s capital

CTV News

timean hour ago

  • Health
  • CTV News

Victoria council to receive report tackling declining social order in B.C.'s capital

A view of the Victoria Police headquarters in Victoria, B.C., on Friday, December 20, 2024. THE CANADIAN PRESS/Chad Hipolito VICTORIA — A plan with 95 recommendations to address what it calls a 'declining social order' in Victoria will appear before councillors today for endorsement and additional financial analysis. Victoria Mayor Marianne Alto says she hopes council endorses the comprehensive plan, because it gives the city permission to act. She says the plan represents a 'watershed moment' in the history of Victoria, adding it's time for council to consider the 'harsh reality' that the city faces with homelessness, addiction and a mental-health crisis. Alto acknowledges that the final price tag of the plan is not yet known, but says endorsement of the plan will allow staff to put some numbers together. The mayor says many of the recommendations in the report fall outside of municipal jurisdiction, but the city is 'tired of waiting' for senior levels of government to do their part. Specific recommendations within Victoria's control include measures to improve downtown safety, explore the establishment of designated shelters and tiny homes for people transitioning from homelessness, and support the delivery of mental health first aid training. Alto says the city will fill some of the gaps for now, with the hope that other levels of government will see what works and do their part to help the city. The report was commissioned in 2023 and responds to what it calls 'increased disorder' and a 'diminished sense' of community well-being in the face of multiple challenges. The report says people in B.C's capital are 'discouraged, upset, and frustrated' with visible and invisible levels of poverty, homelessness and service gaps, despite efforts to revitalize the downtown, increase housing and improve safety. The report says that concerns about safety and the impacts of social disorder are 'negatively impacting business vitality' in Victoria, whose success as a renowned tourism destination depends on the local economy with its array of unique businesses. Article by Wolfgang Depner.

Egyptian restaurant angers Israelis with 'Rocket Koshary' dish
Egyptian restaurant angers Israelis with 'Rocket Koshary' dish

Al Bawaba

timean hour ago

  • Entertainment
  • Al Bawaba

Egyptian restaurant angers Israelis with 'Rocket Koshary' dish

ALBAWABA - A photo posted by the famous Egyptian restaurant "Abu Tarek Koshary" on Facebook has rapidly become virally shared. The photo depicts a rocket-shaped plate of koshary, designed using an artificial intelligence (AI) program, and published under the title "Coming Soon to Markets." It caused a huge buzz among social media users. The 'Rocket Koshary' dish has not only become a trend among Arabs online, but many Israelis reacted with anger over the dish. Roi Kais, an Israeli journalist specializing in Arab affairs and an analyst for the Hebrew Channel 11 TV, commented on his official X account earlier, "It seems that Abu Tariq Restaurant, which serves Cairo's beloved koshary, has entered the midst of the war between Israel and Iran." It is worth noting that Koshary Abu Tarek's Facebook page deleted the image of the 'Rocket Koshary'; however, it is still gaining widespread interaction. A number of politicians and Israelis also commented on journalist Roi Kais's X post, and a former Israeli ambassador to Egypt wrote that the Egyptian restaurant is popular and beloved by Egyptians. يتضح أنه بعد التغريدة، قامت صفحة كشري "أبو طارق" في القاهرة على فيسبوك بحذف المنشور الذي كان يروّج لطبق جديد على شكل "صاروخ".وسائل إعلام مصرية ذكرت أن القرار جاء بعد تقارير عن "غضب في إسرائيل" نعم، الأمر حقيقي بالفعل!@kaisos1987

BEEAH unveils its first freehold mixed-use project in Sharjah
BEEAH unveils its first freehold mixed-use project in Sharjah

Zawya

timean hour ago

  • Business
  • Zawya

BEEAH unveils its first freehold mixed-use project in Sharjah

UAE-based waste management and sustainability company BEEAH announced on Thursday the launch of Khalid Bin Sultan City, its first freehold real estate development in Sharjah. Designed by the Zaha Hadid Architects, the master plan integrates residential, commercial, cultural, and recreational spaces. A BEEAH statement said the project draws inspiration from the legacy of the late Sheikh Khalid bin Sultan Al Qasimi, a visionary in design and urban development whose influence helped shape Sharjah's architectural identity. Covering a 1.5-km-long plot and encompassing BEEAH's LEED Platinum-certified headquarters in Sharjah, the city will offer 1,500 freehold residential units. Residential units, including villas, townhouses, and apartments, will be introduced in phases. The project will feature seven distinct residential neighbourhoods, structured around a central plaza – a public space within a five-minute walking distance. The master plan is based on four core pillars – sustainability, technology, culture, and people – as the city integrates net-zero ready smart infrastructure, renewable energy systems, recycled water infrastructure, and sustainable mobility solutions. The city will have public art spaces, a cultural centre, and architecture that reflects local identity. At the heart of the development lies a 2-km shaded linear oasis, which is a continuous central park that winds through the city. The oasis will have running and cycling tracks, sculpture gardens, wellness areas, and shaded courtyards. The city will include a design and business district that will serve as a new urban hub for Sharjah. It will consist of incubator spaces for the UAE's growing creative economy, along with cultural venues that foster entrepreneurship and circular design, the statement said. No financial details or construction plans were disclosed. BEEAH's real estate portfolio includes its headquarters designed by Zaha Hadid Architects, and the upcoming Jawaher Boston Medical District (JBMD) project designed by Renzo Piano Building Workshop (RPBW). Earlier this year, BEEAH was also appointed as project manager and strategic lead of the upcoming Sharjah Creative Quarter project, designed by Taller de Arquitectura – Mauricio Rocha in collaboration with Daniel Rosselló. (Writing by P Deol; Editing by Anoop Menon) (

Egypt: Canal Shipping extends operation deal for 2 storage yards at Safaga Port
Egypt: Canal Shipping extends operation deal for 2 storage yards at Safaga Port

Zawya

timean hour ago

  • Business
  • Zawya

Egypt: Canal Shipping extends operation deal for 2 storage yards at Safaga Port

Arab Finance: Canal Shipping Agencies has extended its contract with the Red Sea Ports Authority for managing and operating two cargo storage yards at Safaga Port to 10 years for each one, according to a bourse disclosure. The company inked a partnership agreement with the Suez Mechanical Stevedoring Company on October 8 th, 2023, to operate the two yards in exchange for a percentage of the general revenue. A total of 80% of the revenues will be allocated to the Red Sea Ports Authority, while the remaining 20% will be directed to the two companies. The previous agreement included seven years for operating the general cargo and vehicle storage yard, with an area of 24,320 meters, and five years for the hazardous materials yard, with an area of 5,140 meters. Furthermore, the minimum for managing and operating the two yards has been reduced to 32.700 million instead of 85 million. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (

Property Finder welcomes Owen Wilson, CEO of REA Group, to its Board of Directors in a major industry move
Property Finder welcomes Owen Wilson, CEO of REA Group, to its Board of Directors in a major industry move

Zawya

timean hour ago

  • Business
  • Zawya

Property Finder welcomes Owen Wilson, CEO of REA Group, to its Board of Directors in a major industry move

Dubai, United Arab Emirates, June 19, 2025: Property Finder, MENA's leading property portal (or 'the company'), has announced the appointment of Owen Wilson, CEO of REA Group, to its Board of Directors. Wilson brings decades of executive and operational experience, including nine years at REA Group, where he progressed from Chief Financial Officer to Chief Executive Officer. During his tenure he led REA Group, which operates Australia's #1 property platform, through a period of sustained growth and international expansion. Under his leadership, the business became widely regarded as the most advanced digital real estate company in the world. Listed on the Australian Stock Exchange (ASX) with a market capitalisation of approximately USD $20 billion, REA Group, a former shareholder in Property Finder, is majority-owned by News Corp, the global media company founded by Rupert Murdoch. Wilson's addition to the Property Finder Board signals the company's ambition to accelerate innovation, underscore governance, and deliver even greater value to home seekers, buyers and partners across the MENA region. Michael Lahyani, Founder and CEO of Property Finder, said: "Owen brings deep industry expertise to our Board. His leadership at REA Group, shaping digital transformation, driving strategic M&A, and championing customer-first innovation sets a strong benchmark for the industry. As we continue our mission to change living for good in the region, Owen's insight will be instrumental in helping us deliver on our purpose and strengthen our position as the regional leader." Owen Wilson, Board Member, Property Finder, adds, 'I'm deeply passionate about creating personalised experiences that redefine how people engage with property. I've long admired Property Finder's bold vision and the transformative role it plays in reshaping real estate across the MENA region. Under Michael's leadership, the team's relentless focus on innovation, customer experience, and data-driven decision-making closely aligns with the values I've championed throughout my career. I'm excited to support Michael and the Board as the company embarks on its next chapter of growth and continues to shape the future of property search.' About Property Finder Property Finder is a pioneering property portal in the Middle East and North Africa (MENA) region, dedicated to shaping an inclusive future for real estate while spearheading the region's growing tech ecosystem. At its core is a clear and powerful purpose: To change living for good in the region. Founded on the value of great ambitions, Property Finder connects millions of property seekers with thousands of real estate professionals every day. The platform offers a seamless and enriching experience, empowering both buyers and renters to make informed decisions. Since its inception in 2007, Property Finder has evolved into a trusted partner for developers, brokers, and home seekers and buyers. As a lighthouse tech company, it continues to create an environment where people can thrive and contribute meaningfully to the transformation of real estate in MENA. For more information, please contact: Gambit PR & Communications propertyfinder@

Maile Carnegie to retire from ANZ
Maile Carnegie to retire from ANZ

Finextra

timean hour ago

  • Business
  • Finextra

Maile Carnegie to retire from ANZ

ANZ today announced Maile Carnegie has decided to retire as Group Executive Australia Retail on 1 July 2025 to focus on non-executive roles after a distinguished 33-year executive career. 0 Mrs Carnegie first joined ANZ in 2016 as Group Executive Digital Banking, where she was responsible for improving the digital experience for the bank's customers, along with Group responsibility for Marketing. Since 2022, Mrs Carnegie has led ANZ's Retail business in Australia, which services more than six million customers. ANZ Chief Executive Officer Nuno Matos said: 'Since joining ANZ in 2016, Maile has had a significant impact across payments, marketing, digitisation and most recently leading our retail business in Australia. 'When I joined ANZ last month Maile informed me of her desire to transition to a non-executive career outside the bank. I wish to extend my appreciation for her efforts in supporting my early days as CEO. On behalf of everyone at ANZ, I wish her well with the next phase of her career and thank her for all her efforts.' Current Suncorp Bank CEO Bruce Rush has been appointed Acting Group Executive Australia Retail & Suncorp Bank while a global search is undertaken. Mrs Carnegie will assist with a comprehensive transition through July. Having joined Suncorp Bank in 2010 from Santander UK, Mr Rush is an experienced retail banker who has held senior roles across strategy, deposits, and home lending. He has been CEO of Suncorp Bank since August 2024. Mr Matos added: 'Bruce is an experienced retail banker who has done an outstanding job as CEO of Suncorp Bank. His appointment will also assist with the migration of Suncorp Bank customers to ANZ, while we conduct a global search for the next leader of our retail business in Australia.'

Anwar tight-lipped on new IGP appointment, says decision not final yet
Anwar tight-lipped on new IGP appointment, says decision not final yet

Malay Mail

time36 minutes ago

  • Politics
  • Malay Mail

Anwar tight-lipped on new IGP appointment, says decision not final yet

ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim did not disclose if the name of the individual who will be appointed as the new Inspector-General of Police (IGP) to replace Tan Sri Razarudin Husain, whose contract is scheduled to end on June 22, has been finalised or not. He also declined to say whether a list had been submitted to the palace. 'But who told you? Is it true? I'll ask the King later,' he quipped when asked by reporters about the matter. Anwar's statement came after media reports claimed that a list of IGP candidates had been finalised by the government and submitted to the Yang di-Pertuan Agong. The appointment of the IGP is the prerogative of the Yang di-Pertuan Agong, based on the prime minister's advice, as stipulated under Article 140 of the Federal Constitution. Razarudin was appointed as the 14th Inspector-General of Police for a two-year contract after his retirement, effective June 23, 2023, succeeding Tan Sri Acryl Sani Abdullah Sani. — Bernama

Govt to clarify expanded SST, won't burden M40 or lower-income groups, says PM Anwar
Govt to clarify expanded SST, won't burden M40 or lower-income groups, says PM Anwar

Malay Mail

timean hour ago

  • Business
  • Malay Mail

Govt to clarify expanded SST, won't burden M40 or lower-income groups, says PM Anwar

ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim said the government will provide a more detailed explanation regarding the expanded Sales and Service Tax (SST), which will take effect on July 1. He acknowledged that there was confusion regarding the expanded tax and the government aims to ensure that its implementation will be done in a targeted manner. 'I agree that the government needs to give an explanation and to clarify the matter. 'What is important is that we do not want to burden the lower-income groups or the M40,' he told reporters after attending a close-door Johor PKR leadership event held at the Mall of Medini here today. The prime minister attended in his capacity as the PKR president. Anwar, who is also the finance minister, explained that previous general statements on the expanded SST had also caused some confusion. He gave an example of a statement saying that bananas were soon subjected to the SST, but clarified that this only applied to imported bananas. 'This issue has created some confusion where the public argued that even the poor consume fruits. 'This is an area where the government can address to the public in addition to making one or two changes,' he said. Anwar said taxation was an important feature for the government as it will see to better schools and public hospitals. 'We have to think of where the government can get funds to maintain public hospitals with better facilities and improved school buildings,' he said, adding that such taxes are mainly for those that are in the higher income bracket and foreigners.

Zahid: Kemas teacher salary scheme to be revamped, special needs kindergartens in every district by 2027
Zahid: Kemas teacher salary scheme to be revamped, special needs kindergartens in every district by 2027

Malay Mail

timean hour ago

  • General
  • Malay Mail

Zahid: Kemas teacher salary scheme to be revamped, special needs kindergartens in every district by 2027

BANGI, June 19 — The Ministry of Rural and Regional Development (KKDW) will review the salary scheme for Community Development Department (Kemas) teachers, aiming to elevate their role and better protect their welfare. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the welfare of Kemas teachers, whether in terms of allowances, promotion opportunities, social protection or recognition, must be prioritised and structured appropriately. 'To raise outstanding children, we must start by uplifting their educators. We cannot expect extraordinary results if our teachers are only provided with the bare minimum. 'That is why I want a comprehensive and phased strategic improvement plan implemented for Kemas educators,' said Ahmad Zahid, who is also Rural and Regional Development Minister, when launching the Kemas Educators' Day celebration here today. Also present were KKDW secretary-general Datuk Muhd Khair Razman Mohamed Annuar and Kemas director-general Datuk Mohd Hanafiah Man. Ahmad Zahid expressed confidence that with continued support, focused training, and a work ecosystem that values its educators, Malaysia could nurture more dynamic and competitive Kemas teachers who remain the backbone of community education in the country. Meanwhile, he said KKDW aims to establish at least one kindergarten (tabika) for children with special needs in every district nationwide by 2027. He said this effort was to ensure that children with special needs are not left behind in receiving early education through the implementation of the Tabika Tunas Istimewa@Kemas, which begins this year. 'This initiative will start in Melaka this year. God willing, we will try to ensure that no Malaysian child is left behind in accessing early education, regardless of their circumstances,' he said. On the Smart Classroom@Kemas project, a pilot initiative for smart classrooms introduced by Kemas, Ahmad Zahid said it would be a game changer in propelling the early childhood education system into the digital era. 'My aspiration is for at least one smart kindergarten to be established in every district by 2026,' he said, expressing hope that skills-based education, such as technical and vocational education and training (TVET), could begin from an early stage. Ahmad Zahid also expressed pride in other Kemas achievements, including the graduation of 61,032 young huffaz (Quran memorisers) through the Kemas Pre-Tahfiz Programme at 4,229 centres. 'This programme is one of the major accomplishments that I consider a game changer in the early childhood education system. Starting with just 100 kindergartens in 2023, the programme has seen rapid growth. 'God willing, by 2026, we are targeting more than 9,700 Tabika Kemas to be involved, with the participation of over 145,000 young huffaz, surpassing our initial target of 140,000,' he said. He added that to date, Kemas operates 10,567 kindergartens and 577 nurseries (taska) nationwide, providing care and early education to 221,012 children from diverse backgrounds. — Bernama

McDonald's fans slam new ‘overpriced' menu item with some branding it ‘rank' and ‘messy'
McDonald's fans slam new ‘overpriced' menu item with some branding it ‘rank' and ‘messy'

The Sun

time35 minutes ago

  • Business
  • The Sun

McDonald's fans slam new ‘overpriced' menu item with some branding it ‘rank' and ‘messy'

MCDONALD'S fans have slammed a new "overpriced" menu item, with some branding it "messy" and "rank". The fast food chain launched the Big Arch burger yesterday alongside a host of other savoury and sweet options. The never-before-seen burger combines two beef patties, white cheddar cheese slices, crispy onions, fresh onions, shredded lettuce, crunchy pickles, and a brand new Big Arch sauce. Customers can buy it for £7.99 on its own or £9.99 as part of a medium meal with a drink and side. Thomas O'Neill, head of menu at McDonald's UK&I, said it had taken things "up a notch" with the introduction of the Big Arch, adding: "This isn't about size, it's about flavour." Indeed, some customers are keen on the new burger, saying on Facebook they like the sauce and cheese while others have branded it one of McDonald's' "best" burgers ever. Some customers have noted just how big the burger, which contains 1057 calories, is as well. However, others have been quick to point out some major flaws in the new menu item. One posted on the Snack Reviews Facebook page: "Very nice but very messy." Another added: "It's very messy, the sauce is nice." Meanwhile, a third said it "looks rank" while a fourth simply added: "Dog mess." Others have pointed out how "overpriced" the burger is, with one saying: "£9.99 for a meal now!" While another added: "It might be nice but just a semi posh up version of a normal big pay over £10 which for McDonald's is a rip off." A McDonald's spokesperson said it had received "overwhelmingly positive" feedback from customers about the Big Arch. They added: "We designed the burger with our customers in mind and we're delighted to hear that our most exciting burger ever is thrilling burger fans across the UK - delivering on quality and taste! "As with all of our menu items, we refused to compromise on quality and as our biggest burger ever, the Big Arch contains more beef than other products, so the recommended price and calorie content reflect this. "Our customers return to our restaurants day after day as they know they can rely on us to deliver that quality McDonald's experience they love, at a price they can afford and we're committed to continuing that." It comes after McDonald's launched a major menu shake-up yesterday, which included the new Big Arch burger. Customers can also buy a Cheesy McCrispy burger, which costs £6.69 on its own or £8.49 in a medium meal. Halloumi Fries have made a return, with a regular portion costing £2.99 and a large sharebox £7.59. Those in the mood for something sweet can also try the Toffee Crisp McFlurry or Toffee Apple Pie, for £2.39 or £2.09. This is the full list of new items: Big Arch - £7.99 Big Arch medium meal - £9.99 Big Arch large meal - £10.79 Cheesy McCrispy - £6.69 Cheesy McCrispy medium meal - £8.49 Cheesy McCrispy large meal - £9.29 Toffee Crisp McFlurry - £2.39 Halloumi Fries (four-piece) - £2.99 Halloumi Fries Sharebox - £7.59 Toffee Apple Pie - £2.09 The menu shake-up has led to some fan favourites being ditched to make space for the new arrivals though. The Cheesy Garlic Bread Dippers, Lotus Biscoff McFlurry and McSpicy x Frank's RedHot burger were all served for the last time on Tuesday. The Sun revealed last month McDonald's had quietly axed the Chicken Bacon Caesar Wrap as part of a "rotation" of its offering. The wrap, which combined chicken breast strips, crispy onions, rashers of bacon and lettuce, was first launched in summer 2023. A spokesperson said: "As part of our regular wrap rotation, we've taken the Caesar wrap off the menu for now. "We're always evolving our menu with our customers in mind to keep things fresh and exciting." Last October, McDonald's announced it was bringing back its iconic McRib after almost 10 years for a limited time. It came after customers begged for the pork-based sandwich, which first launched in 1981, to make a comeback. However, it was quietly discontinued the following month. A host of other items have come off menus in recent years to make way for new ones including the fan favourite Chicken Legend. The Breakfast Bagel and iconic Sundaes have also fallen off menus since 2018. How to save at McDonald's You could end up being charged more for a McDonald's meal based solely on the McDonald's restaurant you choose. Research by The Sun found a Big Mac meal can be up to 30% cheaper at restaurants just two miles apart from each other. You can pick up a Big Mac and fries for just £2.99 at any time by filling in a feedback survey found on McDonald's receipts. The receipt should come with a 12-digit code which you can enter into the Food for Thought website alongside your submitted survey. You'll then receive a five-digit code which is your voucher for the £2.99 offer. There are some deals and offers you can only get if you have the My McDonald's app, so it's worth signing up to get money off your meals. The MyMcDonald's app can be downloaded on iPhone and Android phones and is quick to set up. You can also bag freebies and discounts on your birthday if you're a My McDonald's app user. The chain has recently sent out reminders to app users to fill out their birthday details - otherwise they could miss out on birthday treats. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@

China soy sauce maker rises on Hong Kong debut
China soy sauce maker rises on Hong Kong debut

CNA

timean hour ago

  • Business
  • CNA

China soy sauce maker rises on Hong Kong debut

HONG KONG: Shares in China's top soy sauce maker Foshan Haitian ended slightly higher on its debut on Thursday (Jun 19) after raising US$1.3 billion in one of Hong Kong's biggest initial public offerings (IPO) this year. The listing came weeks after openings by Chinese battery giant CATL and pharmaceutical firm Jiangsu Hengrui boosted hopes that the Asian financial hub is bouncing back as a destination for stock market flotations. Foshan Haitian's shares rose as much as 4 per cent in opening trade before sinking back towards their HK$36.30 (US$4.62) listing price, which was the higher end of its offer range. The stock ended the day up 0.55 per cent at HK$36.50, though it outperformed the Hang Seng Index, which sank 2 per cent. Chairwoman Cheng Xue called the listing "another important milestone in Haitian's development history". Foshan Haitian was founded in southern China's Guangdong province in 1955 and has developed from a small family workshop into a major producer of soy sauce, an essential ingredient in East Asian cuisine. The company has claimed the title of China's largest condiments maker by volume for 28 years, and its IPO came after it listed in Shanghai in 2014. Cornerstone investors for the Hong Kong listing - including private equity giant Hillhouse, Singapore's sovereign wealth fund GIC and Royal Bank of Canada's Global Asset Management - agreed to buy shares worth US$595 million. The firm exercised its option to issue additional shares, reflecting robust market demand. Foshan Haitian says it will use the proceeds to develop products, expand capacity and explore overseas markets in Southeast Asia and Europe. Hong Kong's stock market has taken a battering in recent years as appetite for new listings in the city was dampened by the COVID-19 pandemic and China's lethargic domestic growth, while a strict security law added to uncertainty. But it is now seeing a strong rebound, with an increasing number of listed Chinese companies flocking to the former British colony for secondary offerings. "We are cautiously optimistic that Hong Kong is well-positioned to contend for the top position in the global IPO market in 2025," Edward Au, Deloitte China's southern region managing partner, wrote in a note. But "adverse geopolitical or macroeconomic disruptions" could affect the optimism, he warned. Foshan Haitian's listing comes after Jiangsu Hengrui raised around US$1.3 billion in May in one of the world's biggest biopharma IPOs this year. That was days after the US$4.6 billion taken by CATL, which was the most so far in 2025. Proceeds from IPOs and additional share sales in Hong Kong have reached US$26.5 billion as of June, compared with US$3.8 billion over the same period last year, according to data compiled by Bloomberg.

ASEAN states evacuating citizens from Iran, Israel, as some voice concerns over latest conflict
ASEAN states evacuating citizens from Iran, Israel, as some voice concerns over latest conflict

CNA

timean hour ago

  • General
  • CNA

ASEAN states evacuating citizens from Iran, Israel, as some voice concerns over latest conflict

KUALA LUMPUR/JAKARTA: Southeast Asian countries are gearing up to evacuate their citizens from the latest conflict in the Middle East, even as some step up their condemnation of Israel in support of Iran amid calls for a de-escalation of their confrontation. Malaysia said on Wednesday (Jun 18) it will evacuate its citizens in Iran by Friday through Turkmenistan. According to government spokesperson Fahmi Fadzil, there is a 'small number' of Malaysians comprising students, tourists and embassy personnel in the country. Indonesia's embassy in Tehran posted on Instagram on Wednesday it would immediately evacuate its citizens who are willing. There are 386 Indonesians in Iran, many of whom are students in the city of Qom. Evacuation details would be conveyed through the WhatsApp group of Indonesian citizens in Iran and by region, the Indonesian embassy said. Vietnam facilitated the departure of 18 of its nationals from Iran to Azerbaijan on Monday, 16 of whom arrived back in Vietnam on Wednesday, national news outlet Viet Nam News reported. In Thailand, the military has aircraft on standby to fly home its citizens from conflict zones in the Middle East, Prime Minister Paetongtarn Shinawatra said. About 40,000 of its citizens are living in Israel and 300 in Iran. As for the Philippines, which has about 30,000 citizens in Israel and at least 1,180 in Iran, the government is coordinating the evacuation of its people and looking for safe routes out of conflict zones, President Ferdinand Marcos Jr said on Wednesday. Over 100 Filipinos in Israel have asked to be repatriated and eight have been injured in attacks, its Department of Migrant Workers said. But Marcos said the government's assessment is that the situation had not yet reached the point of ordering the mandatory repatriation of Filipinos from Israel and Iran, as reported by news portal Israel launched large-scale strikes against Iran last Friday (Jun 13) targeting its nuclear facilities, ballistic missile factories and Iranian security chiefs to prevent Tehran from building a nuclear bomb. Iran has, in turn, retaliated with missile strikes that have killed 24 people in Israel. United States President Donald Trump, whose country is Israel's biggest arms supplier, has declined to say if he has made any decision on whether to join Israel's campaign. Singapore has, in its Ministry of Foreign Affairs online travel advisory for Iran, said Singaporeans in the country should consider leaving as soon as is practicable. 'Singapore has no diplomatic mission in Iran, which constrains our ability to extend consular assistance in an emergency,' the ministry said. In its travel advisory for Israel and the Palestinian Territories, the ministry said Singaporeans should avoid all travel to Israel, the Gaza Strip and the West Bank. Israel has also waged war in Gaza since Hamas militants attacked it on Oct 7, 2023, killing over 1,200 people and taking over 250 hostages. Since Jan 1, Singaporeans visiting Israel have been required to apply for an Electronic Travel Authorisation (ETA-IL) on the Israel Population and Immigration Authority website. SOME SOUTHEAST ASIAN COUNTRIES CONDEMN ISRAEL'S STRIKES ON IRAN Leaders in the region have criticised Israel and expressed deep concern over the situation there. Among the latest to do so was Malaysia Prime Minister Anwar Ibrahim on Jun 19. He slammed Israel's strikes as actions carried out with 'utter impunity' that constitute a 'blatant violation of international law, further eroding the norms that hold the global order together'. 'We call on those with power and influence to speak plainly and act decisively to restrain further escalation,' Anwar said in his speech at the Asia-Pacific Roundtable, a conference organised by the think tank Institute of Strategic & International Studies Malaysia. Days ago on Jun 15, Anwar had said Malaysia must stand up for its friends, including Iran, and defended their right to retaliate, following the response on Jun 13 by its foreign ministry in condemning Israel's attacks as 'a flagrant violation of international law including the UN Charter, and posing a serious threat to international peace and security'. Indonesian President Prabowo Subianto called for a de-escalation on Monday while in Singapore for a retreat with its Prime Minister Lawrence Wong. "We emphasise the importance of a peaceful resolution through negotiations and call for an immediate ceasefire," he said. Indonesia stepped up its criticism on Wednesday, with foreign ministry spokesperson Rolliansyah Soemirat saying: 'The position of the Indonesian government is very clear that Indonesia condemns the attacks carried out by Israel. 'This is a violation of the territorial integrity and the sovereignty of Iran and is also a clear violation of international law.' Rolliansyah also said under no circumstances should nuclear installations be attacked because of the danger to human safety and the environment. Singapore on Jun 13 said it is deeply concerned about the escalation of tensions in the region and urged all parties to exercise restraint and to de-escalate. A day after Israel's campaign against Iran, Brunei said it 'strongly condemns' the military strikes. 'These unprovoked actions come as international efforts intensified to achieve a nuclear deal between the Islamic Republic of Iran and the United States of America, as well as to work towards a permanent solution to the conflict in the Middle East,' it said. Brunei was also part of a joint statement by Arab and Islamic countries on Monday that condemned Israel's attack on Iran, called for a halt in Israeli hostilities against Iran, and a 'swift return to the path of negotiations'. Meanwhile, a spokesperson of Vietnam's Ministry of Foreign Affairs said the country was deeply concerned about the current tensions in the Middle East. Thailand has urged both sides to 'exercise utmost restraint' to prevent further deterioration of the situation and the expansion of conflict, while the Philippines urged a de-escalation 'with the welfare of the people of the Middle East and the Filipinos there in mind'. IS REGION'S RESPONSE TO IRAN-ISRAEL CONFLICT LESS VOCIFEROUS? While Southeast Asian countries are not alone in questioning the legal basis of Israel's strikes on Iran, some experts perceive differences in how the region is responding to the Israel-Iran confrontation compared to Israel's war in Gaza. The Israel-Palestine issue and the Gaza war are more familiar to Southeast Asian countries, and Muslim-majority countries like Indonesia and Malaysia have been consistent in speaking up for the Palestinian cause, said Julia Roknifard, a senior lecturer at Taylor's University School of Law and Governance in Malaysia. 'It is a very familiar issue that has been there for decades and the current (Malaysia) Prime Minister Anwar Ibrahim has been very outspoken about it since October 2023, when the current escalation started – the motion that drew criticism from Malaysia's Western partners, especially the US,' she told CNA. In this region, Indonesia, Malaysia and Brunei do not officially recognise Israel and have no diplomatic relations with it. While Malaysia speaks about developing relations with Iran, it has more history bonding with Arab nations and its approach to Iran has always been cautious, not the least due to the attempts not to upset the Americans, said Roknifard. Malaysia's response to Israel's actions against Iran is less vociferous because Iran is a majority Shia country, while Malaysia's Muslims are Sunni, said political analyst and Asia Strategy and Leadership Institute senior adviser on international affairs Oh Ei Sun. "It is not only Malaysia, but almost everybody else in the Muslim world," he said. Shia and Sunni are the two main denominations in Islam, although the latter makes up about 90 per cent of all Muslims worldwide. Malaysia and Indonesia are majority Sunni countries. In Malaysia, Shia practitioners face restrictions on practising their religion openly as the denomination is considered by the authorities to be 'deviant'. In Indonesia, Shia practitioners are perceived as deviant by many people and often face persecution in local villages. More than 90 per cent of Muslims in Iran, on the other hand, are Shia. Nonetheless, Malaysia's position is clear in the Israel-Iran conflict: That Israel is the aggressor violating international law, said Bunn Nagara, a fellow at the Perak Academy, a think tank and cultural hub based in the state. "How do you measure (the response)? There is no unit of measurement of the Malaysian response. There is no quantifiable data. There is deep disapproval and opposition and total rejection of the violent attitude (of Israel)," he said. Over in Indonesia, the world's largest Muslim-majority country, religion is not a factor in its foreign policy, said analysts. International relations lecturer Teuku Rezasyah said this applies to the Israel-Iran conflict as well as Israel's war against Hamas. 'Indonesia has never mentioned Islam in its statements when condemning wars. The government has also never distinguished between Shia and Sunni Muslims, although the society may have a different view,' added Rezasyah. Indonesia has a diplomatic relationship with Iran and trade between the two countries grew from US$206.2 million in 2023 to US$217.3 million last year. Malaysia is Iran's largest trading partner among Association of Southeast Asian Nations (ASEAN) countries, with total trade valued at RM2.6 billion (US$0.57 billion) in 2024, a 24.6 per cent increase from the previous year. Amid Israel's military campaign, Iran has invited Prabowo to visit the country and urged Indonesia and Islamic countries to boycott Israel's products. On Tuesday (Jun 17), Iran's ambassador to Indonesia Mohammad Boroujerdi said: 'We hope that Indonesia, as the world's largest Muslim-majority country, continues to support Iran on various international platforms.' Roknifard believes a diplomatic response is the only viable option, and the likely role of any Southeast Asian nation is only as part of a coalition pressing the UN Security Council (UNSC) to take measures. 'And even the discussion at the UNSC, Israel tends to disregard,' she said. 'Then we come to the question – if what it takes for this conflict to stop (both in Gaza and Iran) is US pressure on Israel, then how can the rest of the world effectively pressure the US into realisation of such a need,' she added. 'Under Trump and his delusional perception of distribution of power in the world, it does not seem possible.'

Ministers stepping up preparations for renationalisation of Thames Water
Ministers stepping up preparations for renationalisation of Thames Water

The Guardian

timean hour ago

  • Business
  • The Guardian

Ministers stepping up preparations for renationalisation of Thames Water

The environment secretary, Steve Reed, has said the government is stepping up preparations for temporary nationalisation of Thames Water, indicating it will reject pleas from the company's creditors for leniency from fines and penalties. Thames Water's largest creditors control the utility, and have made a bid to cut some of its debts and provide £5.3bn in new funding to try to turn it around. However, the creditors have said their plan needs considerable leniency from Ofwat, the government's water regulator for England and Wales, and the Environment Agency over fines for environmental failings. The Guardian this month revealed that the creditors had asked for immunity from prosecution for serious environmental crimes in return for taking on the company. Reed on Thursday told parliament that Thames Water must meet its statutory obligations, after being asked about possible 'regulatory easements'. 'Thames Water must meet its statutory and regulatory obligations to their customers and to the environment,' he said. 'It is only right that the company is subject to the same consequences as any other water company. 'The company remains financially stable, but we've stepped up our preparations and stand ready for all eventualities, as I've said before, including special administration regime if that were to become necessary.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion More details soon …

If you went to state school, do you ever feel British life is rigged against you? Welcome to the 93% Club
If you went to state school, do you ever feel British life is rigged against you? Welcome to the 93% Club

The Guardian

timean hour ago

  • Business
  • The Guardian

If you went to state school, do you ever feel British life is rigged against you? Welcome to the 93% Club

For the first time in our history, we have a cabinet made up entirely of people who went to state schools. Several, including prime minister Keir Starmer, come from working-class backgrounds; some, such as deputy prime minister Angela Rayner, were raised in conditions of poverty that feel as if they ought to belong to another age. So far so good. What better signs could one ask for to show that Britain is a meritocracy, social mobility is real and anyone can rise to the top provided they have talent, commitment and determination? And yet it might be that in some ways these are exceptions that prove a rule: the rule being that for all the changes made down the years, a private education continues to give a disproportionate advantage to those – currently 7% – who use it. Yes, we have a state-educated cabinet and more state-schooled MPs than ever. Yet more broadly throughout the establishment, when looking at senior positions across Whitehall, the judiciary, law, media and finance, the 7% club continues to hold a disproportionate presence, and therefore to exercise disproportionate cultural and political power. That 7% figure is what gave rise to the 93% Club, the UK's network for state-educated people. Its latest report, the Big State School Survey, merits careful reading by anyone who thinks that because we have the most working-class cabinet of our lifetime, the old class divides are gone and the dream of genuine social mobility has been delivered. The survey suggests that though state-educated students may be the majority by far, it is the 93% who have to fit in with the attitudes and actions of the 7% rather than the other way round. The overwhelming sense of the research is that talk of class continues to be brushed aside as impolite conversation – yet it continues to determine who will thrive, who will falter and who is forced to adopt a new cultural identity just to get into the room. What the survey does is show the emotional cost of having to leave parts of your identity and community behind to thrive. It brings a darker side of social mobility into the light. The journey starts at university. For many, the culture shock is instant. Nearly three-quarters of all state school students reported experiencing it. That figure rises to 91% among those from working-class backgrounds, and 94% of students believe that university culture naturally caters to the wealthy. The little things add up. Three in four students say they miss out on formals and dinners (a component of life at universities such as Oxford and Cambridge). Many say they can't afford to join sports teams or take part in extracurricular activities. The result is not just feeling out of place but feeling like the place was never meant for you despite your having worked hard to get there. The divide doesn't end with a degree. In fact, it deepens: 93% of working-class professionals say their background clashes with workplace culture. Many end up straddling two worlds, the one they came from and the one they now operate in, feeling that they don't fully belong to either. To fit in, people say they start to change. Accent. Clothes. Hobbies. Even what they eat and drink. These are not small cosmetic tweaks. They're survival tactics in environments that reward polish over potential. And while a lot of this happens quietly – with a smile, a nod, a stiff upper lip mentality – the impact is loud and lasting; 61% of respondents said they had to leave their community behind to progress. Nearly half said their friendships changed. Some grew distant from their families. This is not social mobility – it's a social trade-off. I've long been a fan of the 93% Club, not least because its 29-year-old founder, Sophie Pender, knows first-hand what it means to come from nothing and make it in the City with few tools or support at her disposal. And what's refreshing about what her organisation is doing is that it's not accepting the status quo or burning it down. Instead, it is retooling the idea of an old boys' network to serve state school graduates – an old boys' and old girls' network for the many, not the few, you might say. The question now is: do we want a country where success still depends on knowing the right people, sounding the right way and fitting into the right mould? Or do we want one where talent is prized and diversity of thought guaranteed? Real social mobility shouldn't come at the cost of your character. It shouldn't mean sanding down your accent, hiding where you're from or second-guessing how you dress, speak or behave. It should mean being able to walk into any room and be taken seriously. A cabinet that reflects that reality is a start – but it can't be the end goal. If we want lasting change, we need more than symbolism – we need infrastructure. A nationwide state-school alumni network that offers the kind of cultural capital, career support and peer sponsorship long taken for granted by the privately educated. A network that not only helps people navigate elite spaces but also mobilises them to rework the cultures within them. The 93% Club has already made significant strides in creating this infrastructure, but it still has work to do. They're asking others to join in – to share their time, open doors and help rewire the systems that still quietly reward one kind of background over another. It's not a pipe dream. It's a proven model that private schools have used for centuries. It's high time we repurposed it to build a country where people can succeed by not leaving their identity at the door but by walking through it the way they are. Alastair Campbell is a former journalist turned strategist and spokesperson for the Labour party. He is now a writer, podcaster, consultant strategist and mental health campaigner

Reeves promised oil industry ‘quid pro quo' over windfall tax in private meeting
Reeves promised oil industry ‘quid pro quo' over windfall tax in private meeting

The Guardian

timean hour ago

  • Business
  • The Guardian

Reeves promised oil industry ‘quid pro quo' over windfall tax in private meeting

The chancellor, Rachel Reeves, told a fossil fuel company the industry would receive a 'quid pro quo' in return for higher taxes on its windfall profits, it can be revealed. In a meeting with the Norwegian state energy company Equinor on 27 August, Reeves suggested that the government's carbon capture, usage and storage (CCUS) subsidies were a payoff for oil firms being hit with a higher tax rate. Minutes of the meeting obtained by DeSmog and seen by the Guardian state that Equinor's CEO, Anders Opedal, raised concerns over the energy profits levy – also known as the 'windfall tax' – and 'its impact on the value' of Equinor's UK portfolio. In response, Reeves said that raising the windfall tax from 35% to 38% was a 'manifesto commitment', but stated that 'Equinor should recognise the quid pro quo – the funds raised enable government investment in CCUS etc'. CCUS is the controversial practice of trapping the emissions produced by fossil fuel plants before they enter the atmosphere. Many scientific experts have suggested the technology is not economically viable. It is accused of being a favourite climate 'solution' of the fossil fuel industry since it allows for the continued extraction of oil and gas. The Labour government announced in October it would provide £22bn in subsidies to CCUS projects over 25 years after an increase in lobbying by the fossil fuel industry. The Green party co-leader, Carla Denyer, said Reeves and the Labour government had been 'caught out making promises in a secret exchange deal which goes against the interests of the British people'. The MP for Bristol Central added: 'In public, they claim to be taxing fossil fuel giants more fairly by raising the windfall tax, but behind closed doors they are giving back with dodgy deals to allow the fossil fuel corporates to continue with business as usual under the guise of CCUS – an expensive distraction and largely unproven technology.' Equinor is one of the main companies investing in the UK's CCUS sector. In December, the government signed deals with Equinor, BP and TotalEnergies to develop carbon capture facilities in Teesside. This will involve the development of the Net Zero Teesside power plant, which will be 25% owned by Equinor and aims to be the world's first gas-fired power station featuring CCUS. Earlier this year, Equinor was forced to retract a claim that it stores 1m tonnes of carbon dioxide annually at its flagship carbon capture project in the North Sea. Equinor has not captured 1m tonnes of CO2 per year at the site since 2001, and only captured a 10th of that figure in 2023. Equinor made a $28.7bn (£21.2bn) post-tax profit in 2022 after Russia's invasion of Ukraine triggered higher oil and gas prices – a figure that stood at $8.8bn in 2024. Tessa Khan, the executive director of the campaign group Uplift, said: 'Oil companies like Equinor have held sway over successive UK governments, for years shaping policies to benefit their bottom line and slowing down climate action. This Labour government must stand up to them and put our needs – for affordable clean energy and a safe climate that we can pass on to our children – ahead of their insatiable need to profit.' The House of Commons' public accounts committee, which scrutinises government spending decisions, released a report in February describing the UK's £22bn CCUS subsidies as 'risky'. The report noted that the government has downgraded its ambitions for CCUS storage, scrapping its previous commitment of storing 20 to 30m tonnes annually by 2030. It also highlighted that the UK's new CCUS projects do not allow the government to share any potential profits, or for local consumers to benefit from lower energy bills. The committee also reported that producing liquid natural gas, which will be used in the UK's CCUS projects, leaks more greenhouse gases into the atmosphere than previously thought. 'This could undermine the rationale for pursuing certain schemes,' the report said. After being sued by the environmental consultant Andrew Boswell over the Net Zero Teesside scheme, the previous Conservative government admitted it had not taken into account the plant's full potential emissions, which Boswell estimated could reach more than 20.3m tonnes of carbon dioxide equivalent during its lifetime. In summer 2024, a judge rejected Boswell's case, which argued that officials did not fully explore the environmental impacts of the scheme before approving it. The government also won the appeal in May. Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion Boswell, who leads the Scrap Carbon Capture campaign, called Reeves's Equinor meeting 'an outrageous spectacle'. He said: 'She begs Norway's oil colossus to tax its huge profits, and then gifts it with far more in return – many billions over decades for climate-wrecking CCUS.' Equinor and Shell have formed a joint venture to become the UK's largest North Sea fossil fuel producer. In November, the government admitted it had unlawfully approved the development of the UK's largest untapped oilfield, Rosebank, which is operated by Equinor, by not taking into account the climate effects of the combustion of oil and gas to be extracted from the field. Equinor intends to reapply for approval to develop the field. The Labour government has been steadfast in its support for the UK achieving net zero emissions by 2050, with Keir Starmer having said 'homegrown clean energy' is 'in the DNA' of his administration. The Climate Change Committee stated in its 2025 appraisal of the government's net zero policies that the UK needs to scale up its CCUS capacity to 73m tonnes-a-year by 2050 to help meet its climate commitments. 'Investment in carbon capture and storage is a gamble on unproven technology,' said Lily-Rose Ellis, a campaigner at Greenpeace UK. 'All it does is give oil and gas giants carte blanche to continue causing planet-destroying emissions in the hopes that one day they might be able to capture the carbon and store it for all of eternity. Public money should be spent on renewables, which guarantee to lower emissions, bring bills down and boost the economy with new jobs.' A spokesperson for Equinor said: 'Equinor has been a reliable energy partner to the UK for over 40 years, providing a stable supply of oil and gas, developing the UK's offshore wind industry, and pioneering solutions to decarbonise the UK economy, including carbon capture and storage. 'Using our experience of decarbonising energy production in Norway, including safely storing carbon emissions under the North Sea for over 25 years, we are supporting the UK to develop its own homegrown energy transition.' A government spokesperson said: 'We are delivering first-of-a-kind carbon capture projects in the UK, supporting thousands of jobs across the country, reigniting industrial heartlands and tackling the climate crisis. Money raised from changes to the energy profits levy made at autumn budget last year support the transition to clean energy, enhance energy security and independence, provide sustainable jobs for the future, and help protect electricity bills against future price shocks.'

Israel-Iran: Trump caution on US involvement linked to doubts about ‘bunker buster' bomb
Israel-Iran: Trump caution on US involvement linked to doubts about ‘bunker buster' bomb

Irish Times

timean hour ago

  • Business
  • Irish Times

Israel-Iran: Trump caution on US involvement linked to doubts about ‘bunker buster' bomb

Donald Trump has suggested to defence officials it would make sense for the US to launch strikes against Iran only if the so-called 'bunker buster' bomb was guaranteed to destroy the critical uranium enrichment facility at Fordow, according to people familiar with the deliberations. Mr Trump was told that dropping the GBU-57s, a 13.6-tonne bomb would effectively eliminate Fordow, but he does not appear to be fully convinced, the people said, and has held off authorising strikes as he also awaits the possibility that the threat of US involvement would lead Iran to talks. The effectiveness of GBU-57s has been a topic of deep contention at the Pentagon since the start of Mr Trump's term, according to two defence officials who were briefed that perhaps only a tactical nuclear weapon could be capable of destroying Fordow because of how deeply it is buried. Mr Trump is not considering using a tactical nuclear weapon on Fordow and the possibility was not briefed by defence secretary Pete Hegseth and the chairman of the joint chiefs of staff Gen Dan Caine in meetings in the White House situation room, two people familiar with the matter said. READ MORE But the defence officials who received the briefing were told that using conventional bombs, even as part of a wider strike package of several GBU-57s, would not penetrate deep enough underground and that it would only do enough damage to collapse tunnels and bury it under rubble. Fordo nuclear site in Iran Those in the briefing heard that completely destroying Fordow, which Israeli intelligence estimates to go down as far as 90m, would require the US to soften the ground with conventional bombs and then ultimately drop a tactical nuclear bomb from a B2 bomber to wipe out the entire facility, a scenario Mr Trump is not considering. The assessments were made by the Defense Threat Reduction Agency (DTRA), a component of the defence department that tested the GBU-57, as it reviewed the limitations of US military ordinance against a number of underground facilities. The situation underscores the complex nature of such a strike and what success would entail: dropping GBU-57s would likely set back Iran's ability to obtain weapons-grade uranium for up to a few years, but not end the programme completely. Spokespeople for the White House and the Pentagon did not immediately respond to requests for comment. Taking Fordow offline – either diplomatically or militarily – is seen as central to prevent Iran from acquiring nuclear weapons after the International Atomic Energy Agency (IAEA) found the site had enriched uranium to 83.7 per cent – close to the 90 per cent needed for nuclear weapons. Any effort to destroy Fordow would require US involvement because Israel does not possess the ordnance to strike a facility that deep or the planes to carry them. The difficulty with using the GBU-57 to target Fordow, according to the two officials familiar with the DTRA briefing, lies in part with the characteristics of the facility which is buried inside a mountain – and the fact that the bomb has never been used in a comparable situation before. 'It would not be a one and done,' a former DTRA deputy director, retired Maj Gen Randy Manner, said of the GBU-57's limitations, adding that Fordow could be quickly rebuilt. 'It might set the programme back six months to a year. It sounds good for TV but it's not real.' The bomb is commonly known as a 'bunker buster' because it was designed to destroy underground bunkers, but it can be carried only by a B2 bomber that has air superiority and requires a solid GPS signal to lock in on its target. While Israel has said it has established air superiority over Iran, a successful strike would still require any GPS jammers and other defences to be taken out in advance, and for the GBU-57 to penetrate deep enough into the ground to neutralise the facility. Iran built the nuclear enrichment facility at Fordow underground to protect it from the threat of aerial attacks. In 1981, Israel bombed a nuclear facility near Baghdad that was located above ground in order to stop Iraq developing nuclear weapons. In recent years, Israel has devised a variety of plans to destroy Fordow without the help of the United States. In one instance, Israel proposed loading helicopters with commandos who could fight their way into the facility and blow it up – an option that Mr Trump has dismissed, according to people familiar with the matter. – Guardian

David Lammy in US for crisis talks after Trump's Israel-Iran comments
David Lammy in US for crisis talks after Trump's Israel-Iran comments

The Independent

timean hour ago

  • Business
  • The Independent

David Lammy in US for crisis talks after Trump's Israel-Iran comments

Foreign Secretary David Lammy is set to meet US counterpart Marco Rubio in Washington DC to discuss the escalating conflict in the Middle East, including ongoing strikes between Iran and Israel. The meeting occurs amidst speculation that potential US involvement, considered by Donald Trump, could utilize the UK-controlled Diego Garcia base and its B-2 stealth bombers. UK Attorney General Lord Hermer has reportedly raised legal concerns about British involvement in the conflict beyond defending allies, potentially limiting support for US military action. Energy Minister Miatta Fahnbulleh stressed adherence to international law, while Shadow Foreign Secretary Priti Patel indicated Conservative support for necessary military action against Iran to prevent nuclear weapons acquisition. The UK government is also focused on the safety of British nationals in Israel, advising against travel and urging registration, while evacuating embassy staff families based on specific risk assessments.

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