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‘Don’t spend $20 on an acai bowl’: gen Z are shunning private equity’s restaurant takeover

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Oil rises amid worries of growing Iran-U.S. tensions after Bessent issues Iranian airline shutdown warning
Oil rose Tuesday, amid concerns of growing Iran-U.S. tensions. after U.S. Treasury Secretary Scott Bessent told CNBC that all Iranian airlines will be shut down from Wednesday.

UK government borrowing jumps over forecast to £18.3bn in August, in ‘dismal picture’ ahead of the budget – business live
Rolling coverage of the latest economic and financial news, as the rising cost of servicing the national debt pushed up borrowing last month How much ‘headroom’ might John Healey still have to keep within the government’s fiscal rules? That’s the question dogging Westminster and the City. “The chancellor has probably lost about half the headroom he inherited, leaving it between £10bn to £15bn. As long as the headroom is in double figures, he will probably be able to avoid topping it up, but the drop in headroom means any additional day-to-day spending, such as on defence or cost of living, will have to be paid for by higher taxes. “What’s more, if the recent rise in energy prices is sustained through the next few months, household energy bills could rise by another 25% in January, which would take them above the level that the previous government capped them at. That would only further i

Borrowing surge puts pressure on chancellor ahead of Budget
Borrowing was higher than expected in August as inflation piles pressure on the government ahead of the Budget.
All Iranian airlines to be 'shut down' from Wednesday, Bessent tells CNBC
The Treasury Secretary said that Washington was pressuring Iran "like never before"
Alibaba shares jump as new AI chip, data center buildout plans unveiled
Alibaba shares jumped 3% in Hong Kong on Tuesday as the tech giant unveiled a new AI chip and plans to sharply expand its global data center capacity

Britain needs cash and everyone knows we should break the pensions triple lock. Where is the courage? | Gaby Hinsliff
The issue cannot be avoided any longer. Andy Burnham and his chancellor must face the fear of a pensioner backlash, and find a fair solution There is always something oddly unreal about party conference season. In theory, everyone is getting away from Westminster to better reflect on the state of the nation. In practice, the whole circus just briefly relocates to the coast, to live off warm white wine and gossip for three days, before coming back with a streaming cold. But this year, reality seems more elusive than usual. Everyone knows hard choices loom, but everyone is frightened to make them. Every serious party needs billions of pounds to fund their promises, and everyone knows there’s an obvious place to find the money, but nobody wants to be the first to say so. And so a deferential silence shrouds the pension triple lock, whose future will be vigorously debated on the fringes and