The future of Scotch whisky lies in the hands of a sober American president
McKenzie-Smith, now 61, did his research, took a risk and built a distillery — entering a global industry subject to the shifting tides of war and diplomacy to honor his family and heritage.
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Yahoo
36 minutes ago
- Yahoo
Heathrow reveals plan for £21bn third runway
Heathrow airport has said it can build a third runway for £21 billion within a decade. The airport has submitted plans to the Government for a new full-length runway, but insisted it is open to considering a shorter one. The west London hub is seeking permission to open a new 3,500-metre runway to the north-west of its existing location. This would enable an additional 276,000 flights per year, from 480,000 today to 756,000. The M25 motorway would need to be moved into a tunnel under the new runway. Heathrow also wants to create new terminal capacity for 150 million annual passengers, up from 84 million currently. This would involve a new terminal complex named T5XW and T5XN, extending Terminal 2, and demolishing Terminal 3 and the old Terminal 1. Heathrow said its runway and airfield plan would be privately funded at a cost of £21 billion. It attributed the increase from its estimate of £14 billion in 2018 to 'construction inflation'. The total plan, including terminals and supporting infrastructure, would be expected to cost £49 billion. Airlines have expressed concern that the airport will hike its passenger charges to pay for the project. Heathrow believes it is possible to meet the Government's ambition of securing planning consent by 2029 and the new runway being operational within a decade. The airport's chief executive, Thomas Woldbye, said: 'It has never been more important or urgent to expand Heathrow. 'We are effectively operating at capacity to the detriment of trade and connectivity. 'With a green light from Government and the correct policy support underpinned by a fit-for-purpose, regulatory model, we are ready to mobilise and start investing this year in our supply chain across the country. 'We are uniquely placed to do this for the country. It is time to clear the way for take-off.' EasyJet chief executive Kenton Jarvis said Heathrow expansion 'represents a unique opportunity for easyJet to operate from the airport at scale for the first time and bring with it lower fares for consumers'. The airline carries the most passengers on flights from UK airports but does not serve Heathrow. Mayor of London Sir Sadiq Khan said he remains opposed to a third runway 'because of the severe impact it will have in terms of noise, air pollution and meeting our climate change targets'. He warned that City Hall will 'carefully scrutinise' the proposals, adding: 'I'll be keeping all options on the table in how we respond.' Tony Bosworth, climate campaigner at the charity, Friends of the Earth, said if Prime Minister Sir Keir Starmer wants to be 'seen as a climate leader' then backing Heathrow expansion is 'the wrong move'. He went on: 'A third runway raises serious, unanswered questions about how it fits with the UK's climate commitments.' On Thursday, hotel tycoon Surinder Arora published a rival Heathrow expansion plan which involves a shorter runway to avoid the need to divert the M25 motorway. The billionaire's Arora Group said a 2,800-metre runway would result in 'reduced risk' and avoid 'spiralling cost'. Chancellor Rachel Reeves, who gave her backing for a third runway in a speech on growth in January, said: 'We are one step closer to expanding our biggest airport – boosting investment in Britain, increasing trade for businesses, and creating up to 100,000 jobs.' Transport Secretary Heidi Alexander described the expansion proposals as 'a significant step towards unlocking growth, creating jobs, and delivering vital national infrastructure'. She will consider the plans over the summer so that a review of the Airports National Policy Statement (ANPS) can begin later this year. The ANPS will provide the basis for decision-making on any development consent order application. Conservative shadow transport secretary Richard Holden said his party welcomed the investment in UK infrastructure, but insisted it must be privately funded. He said: 'This is a private venture, and it must remain that way. There can be no backup blank cheque from taxpayers. 'Britain needs infrastructure that is affordable, accountable and ambitious, and that means open scrutiny, real competition, and a clear eye on delivery.'
Yahoo
an hour ago
- Yahoo
MAJOR update in Liverpool's record-breaking Alexander Isak deal
Liverpool have got Alexander Isak in their sights. The Reds have got ambitions to break the British transfer record for a second time in the one summer. Having added Florian Wirtz for a sum that could end up reaching £116m, they are ready to top that deal for Isak. It's believed Newcastle are willing to accept £150m for their prize asset - who is under contract until 2028. LFC Kits Shop Now LFC x New Era Shop Now LFC Signed Merch Shop Now LFC x Titleist Shop Now Despite that relatively long contract duration, however, Isak will be leaving sooner rather than later. In a transfer saga the Geordies never wanted or asked for, the 25-year-old has informed the club he has no wish to sign a new contract. Instead, he would prefer to discuss a move away in the current transfer window. Is Isak's Newcastle race run? With a minor thigh cited as a reason, the Sweden international is not taking part in the club's Asian preseason tour. And now it's transpired that Isak has been getting on with his own fitness work AWAY from Newcastle's training base. He's been spotted at Real Sociedad's training facilities - the club he left for Newcastle for £63m back in 2022. It looks like Isak's race is run - with pressure increasing on Newcastle to grant the player's wishes. Now a reporter in Spain has provided a new, crucial context to the Isak deal. Talks planned between Liverpool and Newcastle AS journalist Edu Burgos claims that official talks are due to take place between Liverpool and Newcastle in the next few days. Personal terms have reportedly already been agreed between the Reds and Isak over a five-year contract but club-to-club talks now need to reach a satisfactory conclusion. Burgos states that Richard Hughes is about to slide a £120m offer across Eddie Howe's desk and it remains to be seen how the Magpies react. Isak sends Newcastle message According to Burgos, meanwhile, Isak has ALREADY informed his teammates of his intentions to depart. The best thing for Newcastle to do now is quickly reach an agreement in order to best serve their own squad's needs. It's believed they are going to want a centre-back, a midfielder and a new centre-forward. A cash injection of £120m or more would certainly help them kick off a transfer campaign of their own. And Liverpool can get busy integrating their new forward ahead of the season kicking off. These are exciting times for Liverpool's frontline - with Isak, Ekitike and Wirtz potentially heralding the start of an electric new era.
Bloomberg
an hour ago
- Bloomberg
Traders Brace for Wave of Copper to Hit LME After Tariff Shock
Copper traders are rushing to book up storage space in a bet that US President Donald Trump's shock decision not to tariff the main traded form of the metal will prompt a wave of copper into warehouses on the London Metal Exchange. The race over the past 27 hours for LME storage space underscores how the announcement from the White House has marked a dramatic end to an arbitrage trade that copper industry veterans said was the most profitable of their careers. It's also the latest example of how Trump's tariff drive has upended the $250 billion market for a metal crucial to the energy transition and viewed as increasingly strategic for governments around the world.
