AI cloud computing companies face ‘guppy-level death’, Elon Musk warns, as funding dries up – business live
Posted on Monday October 26, 2026

Rolling coverage of the latest economic and financial news

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

The flow of funding which has helped the AI industry to grow rapidly could be running dry, at least for some firms in the cloud computing world, Elon Musk has warned.

As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.

SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue.

9am: IFO German business climate

11am: CBI distributive trends survey of UK retail

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Cabinet split emerges over controversial Rosebank oilfield decision
Posted on Sunday October 25, 2026

Chancellor is in favour of North Sea project, but energy secretary has said she is leaning towards rejecting it

A cabinet split has emerged over whether to approve drilling at the Rosebank oilfield, with the chancellor, John Healey, in favour of the controversial North Sea project.

The energy secretary, Miatta Fahnbulleh, is ultimately in charge of the decision, and the Guardian reported last week that she was leaning towards rejecting it after granting permission for the smaller Jackdaw gasfield.

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Higher training costs for older workers risks plan to tackle youth jobs crisis, employers say
Posted on Monday October 26, 2026

Exclusive: Ministers planning overhaul of apprenticeship funding to increase cost of over-25s training, Guardian understands

Britain’s largest employers have told the government that forcing businesses to pay more to train older workers risks damaging its goal to tackle the youth jobs crisis.

The Guardian understands ministers plan to overhaul Labour’s apprenticeship funding scheme to increase the cost of training a worker over the age of 25 in England by 25%, to encourage firms to train young people instead.

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How will pedestrianisation of UK’s most famous shopping street work in practice?
Posted on Monday October 26, 2026

A stretch of London’s Oxford Street is to be vehicle-free as part of £150m government-backed scheme

Much of Britain’s most famous shopping street will be closed to traffic from Monday as the long-awaited pedestrianisation of London’s Oxford Street begins.

About half of the 1.2 mile street will initially be vehicle-free, after decades of planning and dispute over how to best use the street, an important transport thoroughfare and the home for flagship stores for big shopping chains.

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The datacentre next door: on the frontline of tech’s latest David v Goliath battle
Posted on Saturday October 24, 2026

The AI boom is pitting local residents against corporate giants seeking to power their energy-hungry networks – but one Welsh city is fighting back

Dale Johnston opens the gate to his neat suburban garden on the western fringes of Newport in South Wales. There’s a trampoline and a slide on the lawn for his grandchildren, and chairs for him and his wife. He should be enjoying the light draining from the perfect autumnal sky – but almost his entire view is blotted out by a vast expanse of prefabricated panels.

The 23 metre-high grey hulk looming over him and his neighbours is a hyperscale datacentre. It is heralded by the area’s Labour politicians as a job creator, yet all Johnston can think about is what he has lost: “Before, the sun used to come around here and it was lovely.” The way residents have been treated is “disgusting”.

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AI firms say UK has a year to head off datacentre protests before construction is threatened
Posted on Thursday October 22, 2026

Exclusive: Nvidia, Microsoft and Cisco taskforce urges ministers to offer areas greater benefits from tech infrastructure amid fears of US-style opposition

AI companies have told ministers they have 12 months to head off public opposition to datacentres in the UK or risk US-style protests that could threaten their construction.

Successive dry summers and rising energy bills are increasing public scrutiny of plans for the huge computer warehouses that are used to train and run AI models, says a submission to the Labour government from a group including the AI infrastructure companies Nvidia, Microsoft and Cisco.

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Manchester United board hold crisis talks over Carrick’s future and Howe approach
Posted on Sunday October 25, 2026

• Job in balance after 3-0 home defeat by Bournemouth

• Howe is director of football Jason Wilcox’s top candidate

Manchester United’s hierarchy are in crisis talks over whether or not to sack Michael Carrick as head coach after he oversaw another torrid defeat, against Bournemouth at Old ­Trafford on Sunday, that left his job in the balance.

Carrick was defiant after the 3-0 humbling, insisting he was not expecting to be removed from his post. “I totally understand the situation,” Carrick said of his job prospects. “I’m not expecting anything in ­particular, to be honest. Carrying on as normal and I love this place.”

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Kimi Antonelli storms to US F1 GP victory but is made to wait for title glory
Posted on Sunday October 25, 2026

• Championship leader wins from Leclerc and Verstappen

• 20-year-old should win title in next race in Mexico

With a calm assurance that belies his tender years, Kimi Antonelli delivered another masterclass at the US Grand Prix, ensuring that while he could not quite seal the Formula One world championship in the Texas sunshine, it is a coronation that is surely only delayed for a week. The 20-year-old has made it almost a formality that he will seal the deal at the next round in Mexico.

Antonelli’s dominant victory in Austin at the Circuit of the Americas, with a controlled and composed drive to beat the Ferrari of Charles Leclerc into second place and the Red Bull of Max Verstappen into third, was described by the Mercedes team principal Toto Wolff as “one small step” towards the title in what has been a season of giant leaps for the Italian.

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