Latest news with #Ineos
Telegraph
an hour ago
- Business
- Telegraph
The 400,000 jobs Ed Miliband could destroy
The story of British manufacturing, particularly energy-intensive manufacturing, in recent times has been one of woe. The primary steel sector faces collapse. Jim Ratcliffe, the CEO of Ineos, has declared that the British chemical industry is coming to an end. The travails of industry have become a case study for different factions to blame their rivals. Left-wingers argue that deindustrialisation is the legacy of Margaret Thatcher's policies. Those on the Right, meanwhile, lay the blame at the reforms of Clement Attlee and his post-war successors, from nationalisation, the 1945 Distribution of Industry Act and the 1947 Town and Country Planning Act. While Britain's twentieth century was marked by policy mistakes, at the turn of the century, it had the fourth-largest manufacturing base in the world in terms of gross value added. We were a significant energy exporter and had stable and competitive electricity prices. Where did things go wrong? In 2000, we, alongside the rest of the Western world, made a faustian pact with the Chinese Communist Party, where we offloaded our low-value-added industrial production in exchange for cheap goods. It was not thought then that, by 2020, Chinese manufacturing would account for 35 per cent of global production, and dominate high-value added sectors like batteries, electric vehicles and drones. We also thought little about how Chinese overcapacity would put huge downward pressure on process industries like chemicals and steel. The other major factor has been the lack of a coherent energy policy. Over the past century, we have gradually increased our energy bills with various levies and carbon-related taxes, all to facilitate the rollout of intermittent renewables. While external shocks to gas prices in recent years brought the issue to the forefront, our industrial energy costs had become globally uncompetitive since 2008. The net zero strategy of decarbonising the power sector via levies has proved short-sighted. While electricity in 2023 accounted for 42 per cent of energy expenditure, it represented less than 20 per cent of calorific consumption, with the remainder primarily coming from methane (natural gas) and petroleum products. British electricity is over 400 per cent more expensive than gas. It is for this reason that wider efforts at electrification are failing. Installing heat pumps has been painfully slow, while the government's drive for electric vehicle adoption did not meet its targets in 2024. While gas and coal costs have been relatively stable, they have been hit by discretionary carbon costs. Prax Lindsey, the Hull-based refinery that recently entered receivership, had emission trading scheme (ETS) costs (accounting for free allowances) exceeding 100 per cent of its operating profit in 2023. The Prax Lindsey closure is just one example of the not-so-slow-motion collapse in Britain's energy-intensive industries. Since 2022, we have seen three ammonia plants shut down, two refineries close, and one of our remaining three olefin crackers abandoned. Wigan's Electric Fibre Glass, our largest fibre glass manufacturer, announced its closure. In metals, the blast furnace at Scunthorpe has effectively been nationalised, and Liberty Steel's plant in Rotherham has been idle for a year. The government is attempting to stave off the bleeding by increasing levy exemptions and making targeted bailouts. They are right to be worried. Home Secretary Yvette Cooper's constituency of Pontefract, Castleford, and Knottingley has three glass factories. The energy-intensive industries sector, outlined in my report for the Jobs Foundation, is a significant component of the economy outside of London. It has over 400,000 workers, a turnover of £170 billion, and a gross value added of nearly £40 billion. It provides relatively high-paid work in the areas it operates, and is critical to thousands of manufacturers further down the supply chain. If it falters further, there is no silver lining.
Express Tribune
2 days ago
- Sport
- Express Tribune
Healy leads the Tour de France
Ben Healy became the first Irishman since Stephen Roche in 1987 to take the overall lead on the Tour de France on Monday with a relentless attack across eight gruelling hills in the Massif Central. The 24-year-old EF rider had already won stage six in Normandy, but here the smiley Healy confirmed his promise with a career-defining ride claiming the fabled yellow jersey. He becomes just the fourth Irishman to wear it following Shay Elliott, back in 1963, Sean Kelly in 1983 and Roche who went on to win an epic race 38 years ago. Healy's performance even overshadowed that of stage winner Simon Yates, who sat on his wheel all afternoon as they crossed the ancient volcanoes that mark the region. Such was the Irishman's effort as the escapees rushed through the grey-black volcanic rock villages that he was also awarded the combativity award for the most attacking rider of the day. "Hats off to him, he's the one that dropped everyone," Yates said of Healy as the escape group was gradually whittled down from 30 to five. The 2025 Giro d'Italia winner Yates attacked on the last of the day's climbs, with Thymen Arensman of Ineos second and Healy coming third at the line 31sec adrift and having never relented on a punishing day. Healy was born in Birmingham but chose to represent Ireland in his youth. He is also in the white jersey for the best young rider. "The stage win I got and the yellow today both mean a lot to me," said Healy, who had a tense wait at the line for Pogacar to cross 4min 51sec adrift and ceding the overall lead, likely for several days. "This yellow is more for the team who worked so hard to put me here but the stage win possibly means more as it came first," he said. French mountain joy Race favourites Tadej Pogacar and Jonas Vingegaard crossed the line together after eight climbs in the Massif Central where they were rarely a wheel's length from each other. Healy leads the Tour itself by 29sec from defending champion Pogacar, with Belgian Remco Evenepoel in third at 1min 29sec. Denmark's double Tour de France champion Vingegaard is fourth overall at 1min 46sec, and his Visma teammate Matteo Jorgenson sits fifth. Third placed overnight, promising young French rider Kevin Vauquelin dropped a minute to finish the day in sixth place overall. Recompense for the home nation on the national Bastille Day holiday came in the form of Lenny Martinez as he earned the King of the Mountains polka dot jersey with 27 points garnered on the day's stage. His grandfather Mariano Martinez won the polka dot jersey outright on the 1978 Tour. Successive escape bids ensued from the off Monday as the 164 remaining riders raced out of Ennezat with top guns Pogacar and Evenepoel finally allowing one to get away over the ever-rolling terrain Once they did, a gap over five minutes was established by a motivated group that rode so hard over the cattle dotted hills the sprinters were dropped to over 30 minutes at the finish line. While Tuesday is a rest day, Wednesday's stage 11 is another flat run with a sprinter expected to take the honours in Toulouse.
Observer
2 days ago
- Sport
- Observer
Healy leads, Yates wins Tour de France 10th stage
PUY DE SANCY, France: Ben Healy became the first Irishman since Stephen Roche in 1987 to take the overall lead on the Tour de France on Monday with a relentless attack across eight gruelling hills in the Massif Central. The 24-year-old EF rider had already won stage six in Normandy, but here the smiley Healy confirmed his promise with a career-defining ride claiming the fabled yellow jersey. He becomes just the fourth Irishman to wear it following Shay Elliott, back in 1963, Sean Kelly in 1983 and Roche who went on to win an epic race 38 years ago. Healy's performance even overshadowed that of stage winner Simon Yates, who sat on his wheel all afternoon as they crossed the ancient volcanoes that mark the region. Such was the Irishman's effort as the escapees rushed through the grey-black volcanic rock villages that he was also awarded the combativity award for the most attacking rider of the day. "Hats off to him, he's the one that dropped everyone," Yates said of Healy as the escape group was gradually whittled down from 30 to five. The 2025 Giro d'Italia winner Yates attacked on the last of the day's climbs, with Thymen Arensman of Ineos second and Healy coming third at the line 31sec adrift and having never relented on a punishing day. Healy was born in Birmingham but chose to represent Ireland in his youth. He is also in the white jersey for the best young rider. "The stage win I got and the yellow today both mean a lot to me," said Healy, who had a tense wait at the line for Pogacar to cross 4min 51sec adrift and ceding the overall lead, likely for several days. "This yellow is more for the team who worked so hard to put me here but the stage win possibly means more as it came first," he said. - French mountain joy - Race favourites Tadej Pogacar and Jonas Vingegaard crossed the line together after eight climbs in the Massif Central where they were rarely a wheel's length from each other. Cycling - Tour de France - Stage 10 - Ennezat to Mont-Dore - Ennezat, France - July 14, 2025 Team Visma | Lease a Bike's Simon Yates celebrates on the podium after winning stage 10 REUTERS/Sarah Meyssonnier Healy leads the Tour itself by 29sec from defending champion Pogacar, with Belgian Remco Evenepoel in third at 1min 29sec. Denmark's double Tour de France champion Vingegaard is fourth overall at 1min 46sec, and his Visma teammate Matteo Jorgenson sits fifth. Third placed overnight, promising young French rider Kevin Vauquelin dropped a minute to finish the day in sixth place overall. Recompense for the home nation on the national Bastille Day holiday came in the form of Lenny Martinez as he earned the King of the Mountains polka dot jersey with 27 points garnered on the day's stage. His grandfather Mariano Martinez won the polka dot jersey outright on the 1978 Tour. Successive escape bids ensued from the off on Monday as the 164 remaining riders raced out of Ennezat with top guns Pogacar and Evenepoel finally allowing one to get away over the ever-rolling terrain Once they did, a gap over five minutes was established by a motivated group that rode so hard over the cattle dotted hills the sprinters were dropped to over 30 minutes at the finish line. While Tuesday is a rest day, Wednesday's stage 11 is another flat run with a sprinter expected to take the honours in Toulouse. — AFP TOUR DE FRANCE RESULTS AND STANDINGS: Stage 10 1. Simon Yates (GBR/TVL) 4hr 20min 05sec, 2. Thymen Arensman (NED/IGD) at 9sec, 3. Ben Healy (IRL/EFE) 31, 4. Ben O'Connor (AUS/JAY) 49, 5. Michael Storer (AUS/TUD) 1min 23sec, 6. Joe Blackmore (GBR/IPT) 3:57, 7. Anders Johannessen (NOR/UXT) 4:38, 8. Lenny Martinez (FRA/TBV) 4:51, 9. Tadej Pogacar (SLO/UAD) 4:51, 10. Jonas Vingegaard (DEN/TVL) 4:51. Overall standings 1. Ben Healy (IRL/EFE) 37hr 41min 49sec, 2. Tadej Pogacar (SLO/UAD) at 29sec, 3. Remco Evenepoel (BEL/SOQ) 1min 29sec, 4. Jonas Vingegaard (DEN/TVL) 1:46, 5. Matteo Jorgenson (USA/TVL) 2:06, 6. Kevin Vauquelin (FRA/ARK) 2:26. 7. Oscar Onley (GBR/DFP) 3:24, 8. Florian Lipowitz (GER/RBH) 3:34, 9. Primoz Roglic (SLO/RBH) 3:41, 10. Tobias Johannessen (NOR/UXT) 5:03.
Yahoo
2 days ago
- Sport
- Yahoo
Manchester United target Eivind Helland available for peanuts
Manchester United are currently focusing all their energy on signing Bryan Mbeumo but the club's scouting department is following a number of players. United have been chasing Mbeumo since the start of the summer and convinced the 25-year-old to join their project early in June. Advertisement However, on Tuesday, The Peoples Person relayed a report claiming the Red Devils and Brentford remain millions of pounds apart in the negotiation for the transfer of the right winger. Manchester United prioritising strengthening attack According to The Athletic, United are 'being patient' in the hope that Brentford ease on their valuation, as the Cameroonian is determined to move to Old Trafford. However, Ineos' approach has left Ruben Amorim in a tricky position heading into the pre-season tour. Significant changes were expected all across the pitch on the back of an abysmal campaign. Still, United have only added Brazilian forward Matheus Cunha to their ranks this summer. Diego León has also joined the first team squad but his signing was sealed in January. Advertisement Manchester United interested in Helland Regardless of Ineos' priority, United's scouting department are monitoring several players to improve other areas of the squad. The Athletic reveal that United sent a scout to watch SK Brann prodigy Eivind Helland against Viking on Sunday. Brann won the fixture 3-1. The 6ft 5in defender is known for his imposing style of play and agility which allow him to dominate both aerial and ground duals. The captain of Norway's under-21s is capable of playing as a centre-back and right-back. He has made 37 appearances for the Norwegian outfit so far. The 20-year-old has around 18 months left to run on his contract. It is claimed he would cost around €7million to €8m. Advertisement Since United are likely to spend the majority of their budget on attackers, a reasonably priced talent like Helland could prove to be a shrewd buy for the Mancunians. United are also thought to be monitoring Botafogo goalkeeper John Victor, who is viewed as Altay Bayindir's possible replacement. Featured image Alex Livesey via Getty Images Follow us on Bluesky: @
Daily Tribune
2 days ago
- Sport
- Daily Tribune
Ireland's Healy takes Tour de France lead as Simon Yates wins stage 10
AFP | Paris Ben Healy climbed top of the overall rankings at the Tour de France yesterday on a mountain stage won by Briton Simon Yates in a breakaway group. Race favourites Tadej Pogacar and Jonas Vingegaard crossed the line together just shy of five minutes behind the escape group after eight climbs in the Massif Central. 2025 Giro d'Italia winner Yates attacked on the last of the day's climbs, with Thymen Arensman of Ineos second and Healy coming third at 31sec. Healy won stage six of the Tour de France in Normandy on Thursday with a long solo break and yesterday he had already sealed the combativity award for his attacks. Healy had done most of the work in the escape all afternoon and now leads the Tour itself by 29sec from defending champion Pogacar, with Remco Evenepoel in third at 1min 29sec. Denmark's double Tour de France champion Vingegaard is fourth overall at 1min 46sec, and his Visma teammate Matteo Jorgenson sits fifth. Recompense for the home nation on the national Bastille Day holiday came in the form of Lenny Martinez as he earned the King of the Mountains polka dot jersey with 27 points garnered on the day's stage.
