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Telegraph
8 minutes ago
- Telegraph
US tells Britain it must spend 5pc on defence
The US has told the United Kingdom it must spend 5 per cent of its GDP on defence. Pete Hegseth, the US secretary of defence, said on Thursday it was 'important' that Britain hits the goal as Nato ministers gathered in Brussels to discuss revised spending targets. It is the first time Britain has been singled out by a senior US official as part of Donald Trump's efforts to force European allies and Canada to defend themselves. 'Our friends in the UK... we're going to get there. We think everyone is going to get there, we really do. It's important they do. It's important that the UK gets there', Mr Hegseth told reporters on the sidelines of the meeting. Sir Keir Starmer has been criticised for refusing to outline detailed plans of how the UK could spend 3 per cent of GDP in the Strategic Defence Review published earlier this week. The Prime Minister said Britain would achieve the ambition by the next Parliament, which could stretch to 2034. Nato ministers are currently wrangling over a spending rise that will see the alliance's 32 member states agree to spend at least 5 per cent of GDP on defence and related infrastructure. When the target is signed off at a leaders' summit in The Hague later this month, it will be the first time in more than a decade that the alliance has agreed to higher expenditure. The decision has come after concerted pressure from Mr Trump, who has previously suggested he would walk away from the alliance unless its member states hit spending goals. 'When you consider the threats that we face, the urgency in the world, it's critical', said Mr Hegseth. 'We don't need more flags, we need more fighting formations. We don't need more conferences. We need more capabilities, hard power.' Mr Hegseth suggested he was confident that the alliance's 32 members were close to reaching a consensus on the new spending commitment. It will see allies, including Britain, having to spend 3.5 per cent of GDP on hard defence and a remaining 1.5 per cent on related infrastructure, such as railways and highways used to transport military hardware. The previous 2 per cent goal was set at a summit in Newport, Wales in 2014, and has been met by a majority of Nato member states. The US secretary of defence said he wouldn't 'name any names', but there are understood to be a number holding out against the increased spending goals. Sources said Spain, Portugal, Italy and Luxembourg had been highlighted as potential concerns, and had long lagged below current thresholds set by the alliance. Madrid is perceived as the main problem capital in reaching 5 per cent. Margarita Robles, the Spanish defence minister, told reporters her country would stick to the 2 per cent goal and said: 'We think that this 2 per cent is enough to meet the responsibilities we have committed to.' Discussions remain amongst allies on when the targets must be hit. Mark Rutte, the Nato secretary-general, has proposed 2032 as the deadline, as well as supporting an American demand of a hard-wired increase of spending by 0.2 per cent of GDP by each member.


Daily Mail
9 minutes ago
- Daily Mail
Ryan Reynolds' legion of Australian fans get MORE good news as Deadpool star teams up with Hugh Jackman for exciting new Aussie sports venture
With Wrexham set to travel Down Under for their upcoming pre-season tour, Ryan Reynolds has once again delighted his legion of Australian fans by announcing a new venture with Hollywood A-lister and Aussie icon Hugh Jackman. It can be revealed that Jackman and Reynolds, have become the new co-owners of the newly rebranded BONDS Flying Roos - Australia's SailGP team. The news also comes as underwear brand BONDS have become the new Title Partner of the Australian sailing outfit. It is the first time that the SailGP side has had a Title Partner, with BONDS, one of Australia's most iconic brands, set to fly the Australian flag alongside the Flying Roos. In true Reynolds fashion, the co-owners released an amusing joint statement claiming that Jackman would be bringing his 'emotional support human [Reynolds]' along for the voyage. 'We're incredibly excited to set sail together in this new adventure,' the Deadpool and Wolverine stars said in a joint statement. 'Hugh brings a deep love for and pride in his home country as well as being an avid fan of sailing. 'He will also be bringing his overly clingy emotional support human along for the ride. 'Apologies in advance to Australia. 'No comment on whether we're writing this in our BONDS. No further questions.' It also means that Reynolds has added yet another business venture to his expanding portfolio. The American actor was seen celebrating earlier this year after Wrexham were promoted to the Championship. He famously owns the footy club alongside fellow Hollywood superstar and It's Always Sunny in Philadelphia creator, Rob McElhenney. Reynolds, 48, also has investments in Aviation American Gin and the Alpine Formula One team. Meanwhile, Aussie star Tom Slingsby and his team are currently leading the SailGP championship with 39 points, one point against Emirates GBR in second place, and two clear of Spain in third. The Aussie crew have won the SailGP championship three times over the past four years, with Slingsby, a CEO, driver and fellow co-owner of the team, speaking of his pride to have such inspiring brands and individuals join the Flying Roos on their venture. 'This is an incredible milestone for us and for our sport, having global icons Hugh Jackman and Ryan Reynolds come on board as co-owners of our team,' Slingsby said. 'They bring unmatched star power, a love for storytelling, and a sharp sense of humour that fits perfectly with our team. 'With BONDS joining as our Title Partner and the launch of the BONDS Flying Roos, we're building something distinctly Australian; a team driven by spirit, resilience, and national pride.' BONDS recently launched in the United States, in partnership with Robert Irwin, and Tanya Deans, president of the company added that the organisation were also over the moon to be on board with Australian royalty in Jackman. 'We're thrilled to join forces with such an iconic duo and an adrenaline-fueled sport ready for its moment in the spotlight. And how do you say no to Hugh Jackman? He's Australian royalty! 'As we set sail on this new adventure, the BONDS Flying Roos have one less thing to worry about – we've got their backs (and bums) covered,' Deans said. The BONDS Flying Roos SailGP Team are now due to make their official debut following the rebrand at the Muybadala New York Sail Grand Prix, which is being hosted between June 7 and 8.


Daily Mirror
13 minutes ago
- Daily Mirror
College dropout overtakes Taylor Swift in billionaire rich list thanks to AI
Passes founder and Scale AI co-founder, Lucy Guo, has surpassed music artist Taylor Swift as the world's youngest self-made billionaire, according to Forbes Forbes have revealed the world's youngest self-made woman billionaire in the world as American entrepreneur and tech founder, Lucy Guo, 30. Her current net worth is $1.3billion (£958million). The publication released their 10th Anniversary list of America's Richest Self-Made Women, highlighting previous title holders including Taylor Swift, Oprah Winfrey, Sheryl Sandberg and Kim Kardashian. Guo knocks Swift off the top spot, as the two-time founder made her wealth through entrepreneurial endeavours in the artificial intelligence and creator spaces. Guo was a co-founder of the artificial intelligence company, Scale AI, which was valued at USD$14billion in a funding round in 2024. While Guo left the company in 2018, a fresh potential tender offer has revalued the company at USD$25 billion, which has propelled Guo's net worth to over $1billion thanks to her retained stake in the company of just under 5%. Commenting on her new self-made billionaire-title, Guo shared with the Los Angeles Business Journal: 'To be very frank, I think there are people that are self-made where their parents really gave them nothing. I'm not as self-made as someone that grew up in the hood, but society defines self-made as just, you didn't get it from a trust fund. But that doesn't mean that I didn't have support.' Guo co-founded Scale AI with Alexander Wang when she was 21, two years after dropping out of Carnegie Mellon University as a computer science student. But her reason for dropping out of the prestigious institution is fairly unique. Guo left school in her senior year after winning the Thiel Fellowship, which awards young people a grant of $100,000 (raised to $200,000 since Guo's time) to pursue their original ideas. The Thiel Fellowship is notorious for its main condition that recipients need to drop out of school. Targeting those who: 'want to build new things instead of sitting in a classroom.' Guo left Scale AI in 2018 for reasons that remain hazy though she attributed her exit to 'differences in product vision and road map'. Guo has not commented on whether she would sell her stake in Scale AI as part of the potential new deal. While she's pursued a few projects post-Scale, Guo's main focus these days is Passes, the creator platform she founded in 2022. Passes was designed to allow all types of content creators to manage subscriptions, offer exclusive services, and engage with their communities more directly. Guo told the LA Business Journal: 'I wanted to create a platform where creators can really monetize their brand in the ways that it makes sense for them.' Help us improve our content by completing the survey below. We'd love to hear from you!