UK gives final go-ahead to £38bn Sizewell C nuclear plant
The Sizewell C project in Suffolk will be jointly funded by Canadian pension fund La Caisse, UK energy firm Centrica and Amber Infrastructure.
The government said it would be the largest shareholder in the project with a 44.9% stake. La Caisse will hold a 20% stake, Centrica 15% and Amber Infrastructure will take an initial 7.6%.
Earlier this month, French energy giant EDF announced it was taking a 12.5% stake, lower than its previously stated 16.2% ownership.
Energy Secretary Ed Miliband said: "It is time to do big things and build big projects in this country again - and today we announce an investment that will provide clean, homegrown power to millions of homes for generations to come.
"This government is making the investment needed to deliver a new golden age of nuclear, so we can end delays and free us from the ravages of the global fossil fuel markets to bring bills down for good."
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The Sun
12 minutes ago
- The Sun
‘There's big decisions to be made' – Eddie Howe breaks his silence on Alexander Isak telling Newcastle he wants to leave
EDDIE HOWE admits Newcastle need to 'make a decision' on the future of Alexander Isak. But the Toon boss has insisted that any negotiation for their £150m-rated star striker must be in the best interests of the club. 5 5 5 Isak, 25, is understood to have told the Newcastle hierarchy that he wants to leave this summer and will not sign an extension on his current deal that expires in 2028. Having not travelled on the club's Asia pre-season tour with a reported thigh strain, Liverpool are said to be preparing a world-record bid to lure Isak to Anfield. Sunsport understands that Saudi side Al-Hilal have offered him a £32million-a-year deal — but his heart is set on Liverpool. Quizzed on Isak's future hours after landing in Singapore, Howe said: 'There's always big decisions to make when you're at Newcastle. That goes with the territory. 'I wouldn't put a timescale on it. With these situations, it has to be right for the football club. 'Obviously, everything is taken into context below that, but the club will make the right decision with all the information that it has. 'Ultimately, to try and move the club forward in whatever way that is. Then it's up to us to make good decisions the other way and try and improve the squad as best we can. 'That's what we're trying to do, regardless of Alex's situation. Of course, we want stability and we want the group to have a really good feeling. 'We are in a very strong position financially. We are determined to be successful. 'We are ambitious. We've got a great season ahead of us. We need to add to the squad and continue to improve. 'And if the journey can continue to an upward trajectory, I think that's what we all want. So that's what we're battling to try and achieve.' Liverpool have recently signed Frankfurt striker Hugo Ekitike for £79m, but are still open to breaking the bank for Isak – who has also been monitored by Arsenal. Isak pulled out of Newcastle's 4-0 friendly defeat to Celtic last weekend through injury, which coincided with rumours of his departure ramping up. Howe continued: 'I have to say, the feeling during pre-season has been as good as any other. "I don't think we're distracted. We're here, we're focused and we're working hard. 'Of course there are things going on behind the scenes. [Isak] will be aware, he's in the news every day and I'm sure that's not easy for anyone in that situation. 5 5 'I'm not actually having daily contact with anyone connected with the board, we're out here, it's been a whirlwind here in the sense of training and the intensity of what we're doing. 'So, that's for other people to deal with back home. I've got 30 players here that I need to look out for and to prepare the team as best we can. 'We do share a really good relationship with him. He's been magnificent for us since he's joined. He's very popular in the dressing room. 'We'd love him to continue his journey at Newcastle. Hopefully he'll be back playing the black and white shirt, that's what we all want to see.' On whether Isak is close to signing a new deal at St James' Park, Howe added: 'As far as I am aware, I don't think there are any contract talks taking place at the moment. 'That would be for a later date potentially. With the situation as it is, there's still so much that could happen. 'I said against Celtic after the game, I certainly hope he stays. I said I was confident that he'd stay. 'But it's football, and who knows what the future may bring.'
The Sun
12 minutes ago
- The Sun
Iconic homeware chain with 58 stores to close branch in DAYS in a blow to shoppers
A POPULAR homeware chain is set to shut one of its high street stores in days in a blow to shoppers. Lakeland is closing its Broad Street store in Reading on August 8, the store has confirmed to The Sun. Signs in the shop window say that the store is closing and everything must go. Disappointed customers shared the news on Facebook, with one saying: 'Oh nooo! I love Lakeland products! I hate being forced to have to shop online for my favourite items of kitchen and homeware.' They added: 'Reading used to be a vibrant shopping centre which I loved visiting, but not anymore!' Another said: 'What? I love that shop. There's going to be nothing left soon.' Meanwhile, a third commented: 'It's sad when shops have to close especially in my home town Reading.' Lakeland has 58 shops across the UK, employs around 1,000 staff and is based in Windermere in the Lake District. The popular chain sells thousands of homeware and kitchen products including spatulas, food containers and baking suppliers. But the chain's future was thrown into question this year as it searched for a new owner. The company began talks with investor Hilco Capital in April in a deal that would provide a new funding package to support the struggling retailer. Lakeland had been searching for tens of millions of pounds of funding to navigate difficult economic conditions, including the increase in national insurance costs for employers. It also hired financial advisors earlier this year to explore its options. The family-run business was created in 1964 and is now spearheaded by three sons of the founder Alan Rayner. The brothers chose advisory company Teneo to help them navigate a potential sale back in January. Months of discussion with various potential buyers followed, including Modella Capital, which this year acquired WHSmith's high street shops. Why are retailers closing shops? EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre's decline. In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping. Falling store sales and rising staff costs have made it even more expensive for shops to stay open. The British Retail Consortium has predicted that the Treasury's hike to employer NICs from April 2025, will cost the retail sector £2.3billion. At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40. In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed. The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing. Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns. Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead. In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few. What's increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online. They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places. The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year. The Reading closure follows the shuttering of another popular store last month. The Lakeland shop in Syon Park, west London, closed its doors for good on June 6. Meanwhile, the store in the Eastgate Shopping Centre, Inverness, was shut down and relocated to the Simpsons Garden Centre in mid-March. Lakeland did not give a reason for the move. At the time customers described the decision as a big loss for the shopping centre.
BBC News
42 minutes ago
- BBC News
Why di demand for matcha tea dey dry up global supply
Matcha mania dey sweep di world. Dem fit see di bright green Japanese tea in everytin from Starbucks' lattes for UK to Krispy Kreme doughnuts for Singapore. Social media dey drive di global craze for matcha, as influencers dey share brewing tips, reviews and recipes. Di "Matcha Tok" hashtag don get up to tens of millions of views. Matcha growing popularity also dey linked to Japan post-pandemic tourism boom, as di kontri weak currency dey make am attractive destination as well as boosting demand for Japanese goods. For di middle of di hype, demand for di powder dey rise. US-based tea importer Lauren Purvis tell BBC say her customers dey see once as month supply of matcha running out in days. "Some cafes even dey ask for one kilo per day. Dem dey desperate to keep up," Ms Purvis, wey dey run Mizuba Tea Co tok. But di high demand, combined wit smaller tea crops sake of heatwaves and US tariffs on Japan, also dey push up matcha prices. Traditionally, Matcha - wey pipo dey use sake of im health benefits, caffeine and flavour - na di product of one centuries-old and highly-specialised process. Dem dey make am from green tea leaves called na tencha, wey dem dey keep under shade for weeks as dem still dey grow. Dis step dey very important for developing di tea signature "umami" flavour - one ogbonge taste wey complement dia natural sweetness. Dem go harvest di leaves, dem go use stone mills dry and ground dem into powder, wey fit produce just 40g (1.4oz) of matcha one hour. But in recent months growers dey struggle, as record-breaking heatwaves dey affect crops. For di Kyoto region, wia about one quarter of Japan tencha come from, hot weather don lead to poor harvests even as demand increase. Di kontri also dey face shortage of farmers as dia population dey old and younger pipo wey dey go di industry no plenty. Shops for Uji, one city for Kyoto famous for matcha, dey always see dia shelves go empty as tourists dey enta to buy once dem open dia doors. Sake of day, many retailers don set limits on how much customers fit buy. Kyoto-based Camellia Tea Ceremony dey allow customers buy only one tin of matcha each as visitor numbers doubled ova di last year, director Atsuko Mori tok. Tea master Rie Takeda also tok say she gatz closely monitor her stocks of matcha, as orders wey go bifor arrive in just days now dey take more dan one week. She dey work for Chazen, one tea ceremony chain for Tokyo, wey dey host traditional rituals serving matcha to guests. Shortages mean tea prices for Chazen outlets don rise by around 30% dis year. "[Di demand] dey good," Ms Takeda tok through one translator. "Na gateway for more pipo to sabi about Japanese culture." E also don attract more growers. Matcha production nearly triple between 2010 and 2023, according to Japan agricultural ministry. Dem also tok say green tea exports, including matcha, also rise 25% last year to 36.4bn yen (£180m; $250m). Savour, not hoard Di craze for matcha craze don spark one movement to promote more mindful consumption. Advocates don call out pipo wey dem see say dey hoard matcha or dey profit from dia popularity. Odas don ask tea drinkers to dey careful about how much dem dey use, and to savour matcha for dia purest form instead of as ingredient in recipes. E dey "a bit sad" to see how pipo dey use high-grade matcha to cook – as dia delicate flavour often no dey show - or stockpiled for resale, Ms Mori tok "Matcha na di highest grade of tea and e dey so special to us. So a bit of a contradiction dey wen I hear stories about how dem dey resell am or use am for food." Di Global Japanese Tea Association dey encourage pipo to use lower grade matcha from later harvests, wey plenty and good for cooking. High-grade matcha dey often lose dia delicate flavour wen dem use am in drinks like lattes, dem add. "Promoting awareness of these distinctions dey help ensure say Japanese tea dey enjoyed wit respect, while supporting di craft and tradition behind am," di association tok. Dem also say di prices of matcha dey likely to rise further sake of tariffs US dey impose on Japan. On Tuesday, Washington and Tokyo bin announce one trade deal wey go mean a 15% import tax on Japanese products wey dey enta US. Matcha distributors like Ms Purvis dey ready for di impact. Di Oregon-based entrepreneur say orders go up by more dan 70% for early July ahead of one deadline for di two kontris to reach trade agreement. "As dem no dey grow Japanese tea for US, no American industry dey under threat wey tariffs need to protect," she tok. "We hope say dem go realise say dem need to exempt specialty tea." Even as soaring demand and limited supplies push up prices, some light dey on di horizon. At least one matcha cafe chain dey reason say prices go come down in di future - although not for a while. "Pipo dey buy am well-well at di demand and di demand dey grow rapidly, but we think say e go calm down a bit in two to three years."
