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Move marks government’s most radical attempt to weaken impact of soaring wholesale gas prices on electricity costsClean energy generation exceeded rise in global electricity demand in 2025The government has confirmed plans to move older wind and solar farms which make up almost a third of Great Britain’s power market on to fixed-price contracts to help protect households and businesses from future gas market shocks.Under the plans, first revealed by the Guardian, renewable energy projects that earn subsidies on top of the market price will be asked to sign up to contracts that pay a set price for electricity as part of the government’s plan to “delink the price of electricity from the price of gas”. Continue reading...

Agreements would aim to shield British industry from new steel tariffs and stricter rules on electric vehicles due in 2027Downing Street hopes to secure deals on steel and electric cars with the EU as it seeks to upgrade the post-Brexit economic relationship.Amid economic uncertainty caused by the conflict in the Middle East and strains in relations with the US, Keir Starmer is seeking closer economic ties with the EU. Continue reading...

• Cerebras Systems, developer of the wafer-size WSE-3 AI chip, filed to go public on April 17, 2026, amid accelerating revenue. • The company secured a $125 million revolving credit facility from Morgan Stanley, expandable to $850 million post-IPO, plus a $1 billion loan from OpenAI. • This IPO positions Cerebras to capitalize on surging demand for specialized AI hardware in US data centers and enterprises.

Experts say ‘cautious consumption’ shows households bracing for return to extended period of financial pressure experienced during pandemic yearsGet our breaking news email, free app or daily news podcastAustralians are choosing chicken schnitzel over more expensive rib-eye steak, avoiding entrees and sticking with tap water rather than a glass of wine amid ongoing uncertainty surrounding the fuel crisis and war in Iran.As soon as the numbers on the petrol bowser started climbing last month as the US and Israel launched strikes on Iran, the customer response was swift. Continue reading...

New tax will hit branded drugs and active ingredients while exempting generics for at least one yearSign up for the Breaking News US email to get newsletter alerts in your inboxDonald Trump is threatening 100% tariffs on pharmaceutical companies that have not struck deals to lower US drug prices.The new tariff will only apply to branded drugs and their active ingredients. Generic drugs, which make up more than 90% of medicines sold in the US, will be exempted from tariffs for at least one year. Orphan, veterinary and other specialty drugs are exempt if they are from trade deal countries or meet urgent public health needs. Continue reading...

Leftwing victor has pledged to cut officials’ expenses and luxuries, but first must turn his attention to a series of crisesWhen Paris’s new leftwing mayor, Emmanuel Grégoire, leapt on a bike for a victory tour along the French capital’s large network of new cycle lanes on Sunday night, he was sending a crucial message to Paris residents.Not only would he continue to build bike lanes and keep limits on cars in the city, keeping the French capital’s pro-cycling focus on environmental issues and reducing its dangerous air pollution., he was also seeking to style himself as humble, frugal – “of an absolute moral rigour”, in his words – after promising to shrink Paris officials’ hefty expenses accounts and end the use of chauffeur-driven cars. Continue reading...