Pound heads for worst week in 18 months as Burnham lines up Labour bid
Posted on Friday May 15, 2026

UK government borrowing costs jump amid political uncertainty and oil price rise that fuelled inflation worries

• Business live – latest updates

The pound was heading for its worst week in 18 months on Friday as City traders anticipated that the UK prime minister, Keir Starmer, could face a challenge from the Manchester mayor, Andy Burnham, later this year.

After days of uncertainty over Starmer’s future, sterling dropped by about three cents, or 2.2%, during the week to $1.332 on Friday, a five-week low. That would be the largest weekly drop against the US dollar since Donald Trump’s election win in early November 2024.

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FTSE 100-listed insurer Hiscox’s shares leap amid report of takeover bid
Posted on Friday May 15, 2026

Canada’s Intact Financial Corp is said to be exploring offer, as London-listed Tate & Lyle attracts US suitor

Shares in Hiscox surged to record highs on Friday as it became the latest UK takeover target after a flurry of overseas bids for British businesses this week.

Canada’s Intact Financial Corp, which provides property and casualty insurance, is said to be exploring a potential takeover of Lloyd’s of London insurer Hiscox, according to a report by the Insurance Post.

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Tesco boss’s pay rises by more than £1m to £10.8m after market share surge
Posted on Friday May 15, 2026

Ken Murphy’s pay could rise even higher following scrapping of food waste target and weakness of rivals

• Business live – latest updates

The boss of Tesco made £10.8m last year, about £1m more than the year before, as the UK’s biggest supermarket hit its highest share of the market in a decade.

Ken Murphy could make even more this year after being handed a 3% rise in basic pay to £1.54m and cutting food waste was scrapped as a target for his long-term bonus, according to Tesco’s annual report.

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From Team Reeves to Manchesterism: Labour’s four economic camps explained
Posted on Friday May 15, 2026

Wes Streeting or Andy Burnham could launch a leadership bid – here are policies from which they could choose

Wes Streeting may not have launched a leadership challenge against Keir Starmer, but he has called for a “battle of ideas” about the government’s future direction.

When it comes to economic policy, there are (at least) four overlapping Labour camps, which have recently generated a flurry of policies from which the leadership contenders could choose. Here we run through the main ideas behind each camp.

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‘I didn’t want to be the guinea pig’: inside tech’s AI-fueled manager purge
Posted on Friday May 15, 2026

Tech workers say AI-driven restructurings are eroding mentorship, support and paths to promotion across Silicon Valley

As tech companies pour billions into artificial intelligence bets and slash their workforces, middle managers are squarely in the crosshairs.

A trend is emerging: when tech CEOs announce that AI is making it possible to do more with fewer workers, they promise to flatten their structures by cutting away what they call unnecessary management layers and bureaucracy. Just last week, the cryptocurrency exchange Coinbase laid off 14% of its workforce while gesturing to the thrill of AI-fueled, minimal-management efficiency. In doing so, it joined companies including Amazon, Block and Meta that in the last year have laid off tens of thousands of employees with a specific focus on removing management layers.

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High-stakes courtroom drama of Musk v OpenAI hears closing arguments
Posted on Thursday May 14, 2026

Nine-person jury to consider whether AI firm bilked world’s richest person and unjustly enriched themselves

Closing arguments began on Thursday in Elon Musk’s lawsuit against Sam Altman and OpenAI, bringing the weeks-long courtroom battle between the two tech moguls nearer to a decision. A nine-person jury is set to deliberate and return a verdict on whether they believe the AI firm and Altman are liable in the case.

The trial, which began last month in an Oakland, California, federal courthouse, has gripped Silicon Valley and featured some of the tech industry’s biggest names as witnesses. Attorneys for both sides have presented testimony and documents that have exposed Musk and Altman’s private dealings, as well as provided a window into the contentious history of OpenAI.

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Aston Villa v Liverpool: Premier League – live
Posted on Friday May 15, 2026

⚽ Premier League updates from the 8pm BST kick-off
⚽ Live scores | Table | Who should be player of the year?

“Right Rob, let’s get down to brass tacks – Slot, should he be shown the door or given another year?” asks Peadar de Burca. “On the evidence of, let’s say, the last ten games, you’d have to say that the Liverpool manager has been found wanting. That extra little bit of innovation or rough magic hasn’t been there. A lot of talent at the top end of the team and you get the feeling a good manager could have shaped those players into something sharper, as opposed to the butter knife attack we’ve mostly seen. So, give him the boot?

“Well, this is a Liverpool team in transition. I suspect the owners, no mugs, had this in mind back in July after Diogo Jota’s tragic death and saw this as a year to acquire some serious talent, let them bed in with the real aim being the 2026-27 season. You’d hope Jeremy Jacquet will be joined by one or two more defensively minded players and the team will have more balance. The team will have had time to become a team. Let’s not judge Slot now, but in eight months’ time when Isak, Ekitike, Wirtz and Ngumoha are able to read each other’s minds.

Today we are without nine players. The good news is that Florian and Mo are on the bench, but Alex [Isak] is out with a minor injury.

I have to compliment Mo on how hard he has worked to be back. It’s not always straightforward with the type of injury he had.

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US PGA Championship 2026 golf: day two – live updates
Posted on Friday May 15, 2026

️ Latest news from second round at Aronimink Golf Club
️ Official live leaderboard | Follow on Bluesky | Mail Matt

Scottie Scheffler’s third at 10, from 44 yards, is no good. It’s 20 feet shy of the flag. He can’t make the par saver, and that’s an immediate backwards step for the world number one and tournament favourite. Matt Fitzpatrick bogeys too, and it’s a double for Justin Rose. They’re -2, +1 and +2 respectively. Meanwhile on Sky, Laura Davies asks Wayne Riley what he thinks the leader will be on at the end of the day. Five under, he answers, without a beat of hesitation. In other words, good luck trying to go low, gentlemen. It’s going to be another hugely entertaining day!

Rose gathers himself and sends a decent wedge into 10, from 77 yards to 16 feet. He’ll have a look at a damage-limiting bogey. Meanwhile Scottie’s lie in the rough on the left isn’t great, and he’s forced to take his medicine, punching back out onto the fairway. Even the strongest hitters in the business aren’t of a mind to take liberties with this rough. To think everyone was talking about bringing Aronimink to its knees with some bomb and gouge at the start of the week! A textbook study in hubris, and that’s before we get around to the subjects of Rory and Bryson.

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