Projects

New Victorian premier also considering ‘sensible changes’ to laws that would enshrine right to work from home two days a weekFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastVictoria’s new premier has not ruled out redirecting billions of dollars earmarked for the controversial Suburban Rail Loop to other projects, saying he’s seeking to pursue the “greatest value for Victorians”.Ben Carroll also used his second day in the top job to flag “sensible changes” to nation-leading laws that would enshrine the right to work from home two days a week, as he tries to distance himself from predecessors Jacinta Allan and Daniel Andrews. Continue reading...

Energy regulator’s plan would mean upfront fees or financial security via letters of credit, bonds or cash depositsDatacentre projects in Britain will be forced to put down significant upfront fees to secure an energy connection under proposals to ease an electricity grid logjam.Ofgem, the sector watchdog, said there are 315 datacentres currently queueing to connect up, representing 73GW of demand. This is almost 30GW above the entire country’s peak energy demand of 45GW. Continue reading...

• LTM Chief Executive Venu Lambu announced that the company expects its artificial intelligence business to eventually generate more revenue than its traditional legacy IT services. • The shift is driven by a growing demand from enterprises for IT vendors to help deploy large language models (LLMs) and integrate AI into their operations. • This strategic pivot is intended to help LTM navigate current market pressures and offset recent index declines affecting the broader IT sector.

• The U.S. and Philippines are establishing a joint AI hub designed to create high-tech jobs and strategically reduce regional dependence on Chinese technology. • The initiative faces scrutiny due to a history of systemic corruption, including a reported 421 fake projects funded within the nation. • Critics argue that the strategy overlooks the precarious reality of local BPO workers and farmers, raising concerns about legal accountability and actual implementation.

• The Scottish government is considering a motion from the SNP national council to implement a moratorium on all new datacentre projects across the country. • This potential freeze follows reports from The Guardian alleging that the UK government and developers misrepresented the technical feasibility of a massive datacentre hub. • Local communities have raised significant concerns regarding land loss and the failure of promised jobs and investments to materialize.

Scottish government to consider SNP national council motion for moratorium on all new datacentresThe Scottish government is about to consider a sweeping moratorium on building new datacentres, putting a key plank of the UK’s AI strategy at risk.Last Sunday the Scottish National party (SNP)’s national council passed a motion to freeze all new datacentres in Scotland. That motion has been sent to the Scottish government to consider. Continue reading...

• President Lee Jae Myung has called for the immediate and prompt execution of government-led large-scale investment projects focusing on AI and semiconductor clusters. • The initiative aims to accelerate the development of critical infrastructure to ensure South Korea remains competitive in the global high-tech landscape. • This push is significant as it seeks to secure national technological sovereignty and drive economic growth through strategic chip production and AI integration.

• South Korean President Lee has called for the accelerated launch of "mega chip projects" to strengthen the nation's semiconductor industry. • The initiative aims to secure South Korea's global competitiveness in the high-tech sector through massive infrastructure and production investments. • This push is critical as global competition intensifies and the demand for advanced AI chips continues to surge.

• President Lee Jae-myung has reaffirmed his commitment to launching three "mega projects" focused on balanced regional development, inclusive sustainable growth, and strengthening the Republic of Korea. • Lee emphasized that achieving tangible results and performance is more critical to the nation's future than his own current approval ratings. • A primary goal of these initiatives is to restore hope and vitality for young people who have faced despair and a lack of opportunity.

House Democratic subcommittee report outlines web of alleged corruption, wire fraud and pay-to-play schemesDonald Trump staged a hostile takeover of the US’s 250th anniversary celebration to enrich political allies, harvest voter data and promote Christian nationalist ideology, according to a congressional investigation released on Thursday.The interim report, “From Vanity to Insanity: How the White House Cheated the American People Out of Their 250th Birthday”, outlines a web of alleged corruption, wire fraud and pay-to-play schemes orchestrated through a shadow corporation embedded within the National Park Foundation (NPF). Continue reading...

Robert Jenrick and MP for Lincoln among those whose constituencies could be hit by cuts to road infrastructure plansThe MP for Lincoln and the Middle East minister, Hamish Falconer, and the Reform MP Robert Jenrick have voiced anger at the cancellation or delay of key transport infrastructure projects to fund the defence investment plan.Falconer and Jenrick were among MPs who have had cuts to road improvements in their constituencies, with savings contributing towards the increase in defence spending. Two roads in the East Midlands are among those where investment cuts have been made to fund a £15bn uplift in defence. Continue reading...

• South Korea is launching ambitious megaprojects to expand its artificial intelligence (AI) capabilities and establish a new semiconductor manufacturing hub in the southwestern region. • President Lee Jae Myung, Samsung Electronics Executive Chairman Lee Jae-yong, and SK Group Chairman Chey Tae-won recently convened at Cheong Wa Dae in Seoul to outline these strategic developments. • Despite the government's push, the initiatives face significant obstacles, specifically regarding labor shortages and insufficient infrastructure required to support high-tech scaling.

• South Korea has announced a massive investment plan for semiconductor and AI "megaprojects" totaling $1 trillion to bolster its technological infrastructure. • The initiative aims to keep the nation competitive as regional rivals, including Taiwan, China, and Japan, aggressively increase their own spending on chip manufacturing and AI data centers. • Despite the announcement, Samsung stocks experienced a four per cent decline, suggesting investor skepticism or a reaction to broader market pressures.

• South Korea is launching massive AI megaprojects designed to maintain a competitive technological edge over China and meet surging global demand. • The initiative focuses on scaling infrastructure and innovation to secure the nation's position in the global semiconductor and artificial intelligence markets. • Implementation faces significant hurdles, including a shortage of skilled workers willing to relocate away from Seoul and the challenge of dispersed supply chains.

• South Korea has unveiled a massive investment plan totaling US$576 billion aimed at dominating the global artificial intelligence and semiconductor markets. • The initiative is led by President Lee, who intends to align the nation's technological ambitions with a broader strategy to revive regional economies. • This strategic move is designed to narrow regional disparities by distributing tech growth and infrastructure across the country.

Three pumped storage hydroelectric power station sites in Scotland on list of 16 long-duration electricity storage plansThe energy regulator has given the provisional green light for the construction of the first new hydropower projects in more than 40 years, part of plans to reduce Great Britain’s reliance on energy imports.Ofgem has published a list of 16 long-duration electricity storage projects, facilities that can store and release electricity for periods of eight hours or more, it has provisionally agreed can proceed. Continue reading...

• Five projects based at Irish universities have been selected as recipients of the European Research Council (ERC) Advanced Grant. • Announced on June 23, the funding total is €838 million, distributed among more than 300 researchers globally as part of the EU’s Horizon Europe programme. • These grants are designed to support senior researchers in pursuing ambitious, curiosity-driven projects that could lead to significant scientific breakthroughs.

• EU policymakers and industry leaders launched two flagship initiatives aimed at digitalizing the European energy system and improving data center sustainability. • The "AI.grids" project, involving 48 partners including research institutes and grid operators, will develop sovereign AI models to optimize energy grid planning and management. • These initiatives are critical for ensuring the EU's energy infrastructure can handle the increasing demands of digitalization and sustainable power distribution.

• Indian stock markets are focusing on key companies including Coal India, Zee, IMFA, Tata Elxsi, Saatvik, and GPT Infraprojects for trading on Wednesday, May 27, 2026. • Global sentiment is bolstered by MSCI’s Asian equities gauge, which climbed 1.1% to reach an all-time high. • South Korea's market surged up to 5%, driven by strong AI investment interest and the performance of chipmaker SK Hynix Inc.

Exclusive: Cache of internal documents leaked to the Guardian and the ABC’s Four Corners show multinational has war-gamed ways to massively delay decarbonisationRevealed: the internal BHP memo that slammed the brakes on world’s biggest miner’s climate pushRead more from the BHP files investigation hereGet our breaking news email, free app or daily news podcastThe world’s biggest miner has halted or delayed projects to cut vast amounts of emissions and has quietly war-gamed options to push major climate investments in its Western Australian iron ore operations into the next two decades, internal documents show.An exclusive investigation based on documents leaked to the Guardian and the ABC’s Four Corners can reveal that BHP, one of Australia’s biggest historic emitters, has dumped plans for a facility that could have significantly reduced emissions and has put on ice renewable projects designed to power its iron ore operations in the vast, resource-rich Pilbara region. Continue reading...

• Europa Cinemas has launched the sixth edition of "Collaborate to Innovate," providing €947,000 in funding to support nine collaborative exhibition projects. • The initiative will benefit 51 member cinemas across Europe, focusing on innovative business models and operational improvements. • A key project includes Cineville Denmark, coordinated by Reprise Teatret in Holte, which aims to implement an unlimited subscription model for independent cinemas.

Spending committee finds MoD most wasteful and also points to cancelled schemes such as Rwanda and StonehengeCancelled government projects such as the Rwanda deportation scheme and the road tunnel under Stonehenge are wasting billions of pounds of taxpayer money a year, parliament’s spending watchdog has found.About £6.6bn was written off by government departments last year alone – state spending that did not achieve its intended objectives or create any value for the taxpayer, the public accounts committee said. Continue reading...

• Football Australia is set to report an unprecedented A$15.3 million loss at its annual general meeting next week, according to ESPN. • The governing body is also cutting more than 20% of its workforce and restructuring after years of financial strain linked to the A-Leagues. • ESPN reported that about half of the 2024 loss came from forgiving APL debts, after the league owners paid just under A$1 million in a settlement over historic debts.

Chancellor’s planning shake-up would ‘reduce exposure from judicial review on all but human rights grounds’Rachel Reeves is ​preparing to announce a planning shake-up ‌that would fast-track clean energy ​and infrastructure projects by curbing judicial reviews, the ​Treasury said.The chancellor will propose that parliament should be able to designate and approve the most important clean energy projects as of “critical national importance”, as part of a wider package seeking to blunt the impact of the Iran crisis. Continue reading...

• CVB Financial (NasdaqGS:CVBF) finalized its acquisition of Heritage Commerce Corp on May 10, 2026, forming a combined mid-sized bank with pro forma assets of US$21.5 billion. • The merged entity released pro forma financials projecting 2025 net earnings of US$241 million, or US$1.36 per share, offering investors visibility into future performance. • This deal transforms CVB from a smaller regional player into a more substantial competitor, potentially enhancing its market position and dividend capacity in the banking sector.

• TikTok has received approval from Thailand’s Board of Investment for three data centres in Bangkok, Samut Prakan, and Chachoengsao provinces valued at $25 billion or 842 billion THB. • The facilities will serve as regional hubs to store and process data, supporting TikTok's expanding user base across Southeast Asia. • This massive investment underscores TikTok's commitment to infrastructure growth amid rising demand, alongside other approvals like DAMAC Group's $1.4 billion and Bridge Data Centres' $746 million projects.

Exclusive: Government should back projects that prioritise renewables to protect consumers from ongoing price shocks, they sayGet our breaking news email, free app or daily news podcastFormer oil and gas industry leaders, including senior executives from BP and Shell, are warning the Albanese government that Australians risk ongoing price shocks and higher costs if it prioritises fossil fuel development in response to the global energy crisis.Sixteen ex-executives and professionals – who had worked for companies including Woodside, Inpex, Exxon Mobil and Esso – have urged the government to reject calls for fast-tracked gas and coal extraction, arguing it would do nothing to improve the nation’s liquid fuel security. Continue reading...

US representatives Jared Huffman and Jamie Raskin earlier this month called agreements outrageous and unlawfulSign up for the Breaking News US email to get newsletter alerts in your inboxThe Trump administration blocked two permitted US wind energy projects from development this week, with an agreement to pay millions of dollars in refunds to the companies behind them if those funds are reinvested in oil and gas.US Department of the Interior officials framed the canceled agreements as a way to “promote US energy security and affordability” by funneling funds “away from intermittent, higher-cost energy sources toward proven conventional solutions”, in an announcement issued Monday. Continue reading...