Reeves cuts VAT on summer days out to 5% as part of cost of living support
Posted on Thursday May 21, 2026

Chancellor says she will raise tax on global oil firms to help meet costs of plans and confirms freeze on fuel duty increases

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Rachel Reeves will cut VAT to 5% on summer attractions such as theme parks and soft play centres during the school holidays as she aims to ease the impact of the war in Iran on cash-strapped households.

The chancellor told MPs on Thursday she would also raise more tax from global oil firms operating in the UK to help meet the costs of her plans.

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UK service sector activity slumps in one of sharpest declines for a decade
Posted on Thursday May 21, 2026

Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran war

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Companies in the UK’s dominant services sector have reported one of the sharpest declines in business activity in a decade, according to a closely watched index.

Businesses are grappling with a “perfect storm” of domestic political uncertainty around Keir Starmer’s leadership as prime minister and the growing impact of the Iran war, leading to soaring costs, supply shortages and job cuts, the report said.

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BT warns of smartphone price rises due to chip shortages from AI boom
Posted on Thursday May 21, 2026

Telecoms company CEO says tech firms are buying up memory chips to power datacentres relied on by AI

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BT has said the cost of smartphones could rise as technology companies buy up semiconductor chips because of the boom in artificial intelligence, putting pressure on supply chains.

The telecoms company’s chief executive, Allison Kirkby, said she was anticipating shortages as tech firms bought large quantities of memory chips to power the datacentres relied on by AI.

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The main takeaways from Elon Musk’s plans for $1.75tn SpaceX flotation
Posted on Thursday May 21, 2026

Prospectus for tycoon’s sprawling empire reveals his plan to keep control – and ambition to colonise Mars

• SpaceX reveals plan for $1.75tn stock market debut

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Elon Musk’s SpaceX has revealed plans for a highly anticipated $1.75tn (£1.3tn) flotation next month as he seeks investor backing for his quest to make life “multiplanetary”.

SpaceX is a sprawling business, encompassing the eponymous rocket launch company, the Starlink satellite broadband service, Musk’s xAI artificial intelligence startup and the social media platform X, formerly known as Twitter.

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Nvidia’s revenue blows past Wall Street expectations as AI boom accelerates
Posted on Wednesday May 20, 2026

Many analysts view company’s financial performance as a broader referendum on AI buildout

Nvidia continued its years-long streak of beating Wall Street’s expectations for growth on Wednesday, reassuring most investors that the AI boom, particularly the global explosion of datacenters, will continue apace.

“The buildout of AI factories – the largest infrastructure expansion in human history – is accelerating at extraordinary speed,” said Nvidia’s CEO, Jensen Huang, in a statement. “Agentic AI has arrived, doing productive work, generating real value, and scaling rapidly across companies and industries.”

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Google DeepMind in talks with UK unions amid staff concern over US and Israel’s AI use
Posted on Wednesday May 20, 2026

Exclusive: Google DeepMind agrees to Acas talks after workers sign petitions about governments’ use of AI for defence and intelligence

Google DeepMind has agreed to enter formal talks with UK tech workers that could lead to trade union representation amid growing staff concerns about the use of its AI by the US and Israeli governments’ defence and intelligence.

In a groundbreaking move, the artificial intelligence arm of the multi-trillion dollar Google empire, led by the Nobel prize winner Demis Hassabis, has agreed to meet the Communications Workers Union and Unite at the Advisory, Conciliation and Arbitration Service (Acas) after workers based at its London headquarters this month voted to make a bid to unionise.

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The 10 numbers that sum up how Arsenal won the Premier League
Posted on Thursday May 21, 2026

Arsenal won the title thanks to defensive excellence, relentless consistency and exploiting fine margins

By Opta Analyst

Arsenal have done it. Finally. After 22 years, they are champions of England once again. Manchester City’s 1-1 draw at Bournemouth on Tuesday night means Arsenal hold an unassailable lead at the top of the Premier League with one game remaining. It’s their 14th top-flight crown overall, their fourth Premier League title, and their first since the Invincibles campaign of 2003-04.

The defining number for that team was zero. Zero defeats across an entire league season. But what numbers best define this Arsenal side? Here are 10 that tell the story of their title-winning campaign.

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French Open draw: Djokovic avoids Sinner half but Raducanu faces early Sierra test
Posted on Thursday May 21, 2026

• Carlos Alcaraz absence makes Italian heavy men’s favourite

• Emma Raducanu will face talented Solana Sierra

Novak Djokovic has avoided Jannik Sinner’s half of the French Open draw but faces a challenging path as he tries to hit form and launch a deep run after a torrid, injury-ravaged period before the second grand slam event of the year.

Djokovic, a three-times champion at Roland Garros, returns to Paris aiming for a record 25th grand slam singles title. He will begin against the big-serving Frenchman Giovanni Mpetshi-Perricard.

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