Business
Heathrow third runway plans face ‘delusion or deception’ warning over costs and timeline
Plans to build a third runway at Heathrow Airport have come under renewed scrutiny after a report accused the airport of “misrepresentation” over its claims the project can be delivered within a decade without relying on taxpayer funding.
The report, authored by infrastructure adviser Paul Mansell, warns that the government-backed expansion could expose both the airport and airlines to major financial risks if the project suffers delays and cost overruns similar to those that have plagued the HS2 rail scheme.
Heathrow has estimated that a third runway, alongside major upgrades to terminals and infrastructure, could be delivered for around £49 billion, with the first flights operating by 2035. The airport has repeatedly stressed that the scheme would be privately financed, meaning it would not require direct taxpayer funding.
However, critics argue that the true cost of the expansion would ultimately be borne by airlines and passengers through significantly higher airport charges.
Airlines have already raised strong objections to Heathrow’s proposals, warning that the expansion could dramatically increase the cost of flying through Britain’s busiest airport.
Among the most vocal critics is International Airlines Group, which owns British Airways, as well as Virgin Atlantic and other carriers operating from Heathrow.
Airlines fear the project will be financed largely through higher landing charges, which are paid by airlines for using airport infrastructure and are often passed on to passengers through ticket prices.
Industry estimates suggest that costs per passenger could potentially double if Heathrow moves ahead with its proposed investment programme.
The airport has also outlined plans to increase its capital spending to £59 billion during its next regulatory period, known as H8. That figure includes approximately £10 billion required simply to maintain and operate the airport over the next five years.
According to Mansell’s report, the scale of spending represents a dramatic increase compared with Heathrow’s current investment levels.
“The scale of capital expenditure being proposed is staggering,” the report states, warning that consumers would ultimately carry the financial burden.
The report also questions whether Heathrow’s proposed timeline is realistic.
Even if the airport succeeds in securing planning permission by 2029, the schedule would require the new runway to be operational just six years later.
Mansell argued that such projections risk falling into what experts describe as “strategic misrepresentation”, a phenomenon where infrastructure promoters underestimate costs or timelines to increase the likelihood of political approval.
According to the report, experts consulted during the review described such forecasts bluntly as either “delusion or deception.”
Heathrow has said the timeline is contingent on external factors, including planning reform and regulatory approvals, and insists the schedule remains achievable under the right conditions.
The report also raises broader concerns about governance and transparency surrounding the expansion project.
It warns of a “breakdown in trust” between Heathrow and its airline partners, citing strained relations over previous infrastructure investments at the airport.
Airlines have pointed to examples of significant cost overruns and delays in recent Heathrow projects.
One example cited is the replacement of the baggage system at Terminal 2, which has seen costs rise to nearly £1 billion, up from an original budget of £645 million. Another major infrastructure upgrade involving a tunnel refurbishment has reportedly been delivered four times over its original budget and more than a decade late.
The report argues that such examples raise questions about Heathrow’s ability to deliver a much larger project on time and within budget.
“If a similar failure occurs at Heathrow,” the report states, “it will fundamentally undermine UK aviation, weaken confidence in UK infrastructure and construction sectors, and potentially hole Heathrow and its airlines below the waterline.”
The report was commissioned by Heathrow Reimagined, a coalition of airlines and aviation stakeholders campaigning for changes to the airport’s regulatory framework.
It comes ahead of a key ruling by the Civil Aviation Authority, which is currently assessing Heathrow’s proposed investment plans and the mechanisms that allow the airport to pass costs on to airlines.
Among the report’s recommendations are reforms to Heathrow’s governance structure and the introduction of stronger oversight mechanisms to ensure airlines and passengers are more directly involved in major investment decisions.
It also suggests that an independent body such as the Civil Aviation Authority should play a larger role in scrutinising Heathrow’s long-term spending plans.
Heathrow rejected the criticism, arguing that its track record shows it is capable of delivering large infrastructure projects successfully.
A spokesperson for the airport said the expansion plans had been developed with lessons from past megaprojects firmly in mind.
“We have seen the lessons of HS2 and we are confident in our plans, which build on our own successes of privately financed megaprojects like Terminals 5 and 2, both delivered on time and on budget,” the spokesperson said.
Heathrow also urged airlines to engage constructively in discussions about the expansion rather than commissioning what it described as “biased reports”.
Despite the criticism, the UK government remains broadly supportive of expanding Heathrow’s capacity as part of a wider strategy to boost international connectivity and economic growth.
A spokesperson for the Department for Transport said expanding Heathrow would strengthen Britain’s global trade links and attract investment.
“Expanding Heathrow will attract international investment and strengthen Britain’s connectivity, with the airport supporting hundreds of thousands of jobs across the country,” the spokesperson said.
The transport secretary has also launched a review of the Airports National Policy Statement, a key policy framework that underpins the approval process for major airport expansions.
The debate over Heathrow’s third runway has been ongoing for decades, balancing economic arguments for increased aviation capacity against environmental concerns and local opposition.
Supporters say the expansion is essential if the UK is to remain competitive as a global aviation hub.
Critics warn that the project risks becoming another costly infrastructure saga if costs spiral and timelines slip.
With regulatory decisions looming and tensions rising between Heathrow and its airline customers, the future of Britain’s most ambitious airport expansion project remains far from settled.
Business
Father claims Google's AI product fuelled son's delusional spiral
The case is the first wrongful death case against Google over alleged harms caused by Gemini.
Business
How to Choose Trusted Hatton Garden Jewellers for Your Engagement Ring
Buying an engagement ring is one of the most meaningful decisions you will ever make. It represents commitment, love, and a future together — which is why choosing the right jeweller matters just as much as choosing the ring itself.
For generations, couples have visited Hatton Garden, London’s historic jewellery district, known for its exceptional craftsmanship and diamond expertise. However, with so many retailers in one area, identifying the right professional can feel overwhelming.
Why Reputation Matters
When beginning your search, reputation should be your first consideration. Experienced jewellers build trust over time through consistent quality, honest advice, and excellent customer service. Reading detailed reviews and testimonials can give you insight into how previous clients felt about their experience. Did the jeweller take time to explain the process? Were they transparent about pricing? Did they offer guidance without applying pressure?
Choosing from among trusted Hatton Garden jewellers means looking beyond flashy displays and focusing instead on credibility, heritage, and long-term customer satisfaction. A well-established presence in the area often reflects reliability and dedication to craftsmanship.
Transparency and Diamond Certification
A reputable jeweller will always prioritise transparency. This includes providing recognised certification for diamonds and clearly explaining the grading process. Understanding the cut, colour, clarity, and carat weight ensures you know exactly what you are investing in.
Clear communication about pricing is equally important. Rather than presenting a figure without explanation, a professional jeweller will walk you through the value of the stone and the design. This openness builds confidence and allows you to compare options fairly as you explore different engagement ring styles in Hatton Garden.
Considering Modern Diamond Options
In recent years, many couples have explored alternatives to traditionally mined stones. The growing demand for lab grown diamond engagement rings in London reflects a shift towards ethical sourcing and sustainability. These diamonds are visually and chemically identical to natural stones, offering the same brilliance while often being more budget-friendly.
A knowledgeable jeweller will explain the differences between natural and lab grown diamonds in a balanced and informative way. The goal should always be to help you choose a ring that aligns with your values, preferences, and budget — not to steer you in one direction unnecessarily.
The Value of Craftsmanship and Bespoke Design
One of the greatest benefits of choosing Hatton Garden engagement rings is the direct access to highly skilled artisans who specialise in bespoke jewellery creation. Rather than selecting a mass-produced design, couples have the opportunity to shape every detail of their ring, from the choice of setting to the finer elements that give it individuality and character.
Exceptional craftsmanship is about far more than visual appeal. A well-made ring is carefully constructed to ensure strength, balance, and lasting comfort for everyday wear. When you sit down with an experienced jeweller to explore design ideas and examine diamonds up close, the process becomes both personal and reassuring. This level of attention not only enhances the final result but also makes the journey of creating the ring just as special as the proposal itself.
Aftercare and Long-Term Support
An engagement ring is worn every day, so ongoing care is essential. Resizing, cleaning, and maintenance services are important factors to consider before making a purchase. A jeweller who offers reliable aftercare demonstrates confidence in their work and commitment to long-term customer relationships.
Choosing the right jeweller ultimately comes down to trust, transparency, and expertise. By focusing on reputation, quality, and personalised service, you can feel confident that your engagement ring will be both beautiful and enduring, a true symbol of your commitment, crafted with care in one of London’s most respected jewellery destinations.
Business
USDA provides relief to sugar producers

Financial program to help sugar producers as they think about 2026 planting intentions.
Business
Ellington Residential Mortgage earnings missed by $0.04, revenue topped estimates

Ellington Residential Mortgage earnings missed by $0.04, revenue topped estimates
Business
Alto Ingredients stock surges 25% on surprise fourth quarter profit

Alto Ingredients stock surges 25% on surprise fourth quarter profit
Business
Systm Foods adds clear protein beverages

The beverages feature 20 grams of whey protein.
Business
Versant Media Prepares for Growth Despite 2025 Revenue Weakness
Versant Media VSNT 5.91%increase; green up pointing triangle Group said profit and revenue fell in 2025, hurt by lower revenue across its linear distribution, advertising and content-licensing businesses.
Still, Chief Executive Mark Lazarus said the company is well positioned to grow in the year ahead after spending much of the past year strengthening its programming, expanding its audience, growing its platforms businesses and successfully establishing itself as a standalone company.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Business
Flowers sets new leadership for Simple Mills

Michelle Lorge named president, taking reins from founder Katlin Smith.
Business
Sabre completes redemption of $91.6 million in senior secured notes

Sabre completes redemption of $91.6 million in senior secured notes
Business
SanDisk Corporation Shares Surge in Volatile Trading Amid AI Memory Demand
SanDisk Corporation (NASDAQ: SNDK) stock experienced sharp fluctuations in recent sessions, reflecting broader market dynamics in the semiconductor sector driven by artificial intelligence infrastructure needs and geopolitical uncertainties.

As of midday trading on March 4, 2026, SanDisk shares were trading around $599, up approximately 6% from the previous close of $565.41. The stock opened higher at about $586.84, reaching an intraday high near $607 before moderating. Volume exceeded 9 million shares, well above average, signaling strong investor interest.
The previous session on March 3 saw a steep decline of 8.67%, closing at $565.41 after dropping from a prior level around $619. Analysts attributed the pullback partly to broader tech sector pressure from rising energy costs and tensions in the Middle East, which impacted memory chip players including SanDisk and rival Micron Technology.
SanDisk, a leading provider of NAND flash memory and storage solutions, has emerged as a standalone public company following its separation from Western Digital Corporation in February 2025. The spin-off positioned SanDisk to capitalize directly on surging demand for high-performance memory in AI data centers, enterprise storage and consumer devices.
The company’s fiscal second-quarter results, reported in late January 2026, exceeded expectations significantly. Revenue reached $3.03 billion, up 31% sequentially and 61% year-over-year. GAAP net income stood at $803 million, reflecting robust gross margins that climbed to over 51% from under 30% in the prior quarter.
Guidance for the third quarter pointed to revenue between $4.4 billion and $4.8 billion, with earnings per share projected at $12 to $14. Management highlighted sustained pricing strength in NAND flash, driven by constrained supply and AI-related demand that shows no signs of easing.
“AI workloads are elevating NAND’s role in performance-critical applications,” one analyst noted in a recent client update, emphasizing potential for continued pricing momentum through 2026 and into 2027. Industry observers point to supply agreements extending to 2028 as evidence that customers are locking in capacity amid shortages.
SanDisk’s stock has delivered extraordinary returns since the spin-off. Year-to-date in 2026, shares have gained substantially, building on a more than 1,200% surge over the past 12 months in some measurements. The 52-week range spans a low of $27.89 to a high of $725, underscoring the volatility tied to memory cycle dynamics and AI hype.
Recent corporate actions have also influenced trading. In February 2026, Western Digital announced plans to sell a portion of its remaining stake in SanDisk through a secondary offering valued at around $3.09 billion to $3.17 billion. The move aimed to reduce debt but introduced temporary selling pressure. Despite this, shares rebounded in subsequent sessions as investors focused on underlying fundamentals.
Analyst sentiment remains largely positive, with a consensus “Moderate Buy” rating. Price targets vary widely, from lows around $300 to highs exceeding $1,000, with averages hovering near current levels or higher. Firms have raised targets recently, citing SanDisk’s positioning in AI infrastructure compared to peers.
Comparisons to competitors like Micron highlight sector trends. Both companies have benefited from NAND and DRAM price increases, though SanDisk’s focus on NAND has given it an edge in certain AI applications. However, risks persist, including potential oversupply if demand moderates, geopolitical disruptions affecting supply chains, and high valuations that leave little room for error.
Market capitalization stands at approximately $88 billion, reflecting the company’s rapid revaluation post-spin-off. Shares outstanding total about 147.6 million.
Investors continue to monitor upcoming catalysts, including participation in investor conferences and any updates on capacity expansions or partnerships. While memory stocks face periodic digestion phases, current indicators suggest SanDisk remains well-positioned amid the ongoing AI buildout.
The stock’s performance illustrates the high-stakes nature of the semiconductor industry in 2026, where innovation in storage technology intersects with massive capital spending on data centers. As AI adoption accelerates, companies like SanDisk could see extended cycles of strong demand, though volatility is likely to remain a feature.
-
Politics6 days agoITV enters Gaza with IDF amid ongoing genocide
-
Politics2 days agoAlan Cumming Brands Baftas Ceremony A ‘Triggering S**tshow’
-
Fashion5 days agoWeekend Open Thread: Iris Top
-
NewsBeat7 days agoCuba says its forces have killed four on US-registered speedboat | World News
-
Tech4 days agoUnihertz’s Titan 2 Elite Arrives Just as Physical Keyboards Refuse to Fade Away
-
Sports5 days ago
The Vikings Need a Duck
-
NewsBeat4 days agoDubai flights cancelled as Brit told airspace closed ’10 minutes after boarding’
-
NewsBeat7 days agoManchester Central Mosque issues statement as it imposes new measures ‘with immediate effect’ after armed men enter
-
NewsBeat3 days ago‘Significant’ damage to boarded-up Horden house after fire
-
NewsBeat4 days agoThe empty pub on busy Cambridge road that has been boarded up for years
-
NewsBeat4 days agoAbusive parents will now be treated like sex offenders and placed on a ‘child cruelty register’ | News UK
-
Entertainment3 days agoBaby Gear Guide: Strollers, Car Seats
-
Business7 days agoDiscord Pushes Implementation of Global Age Checks to Second Half of 2026
-
Tech5 days agoNASA Reveals Identity of Astronaut Who Suffered Medical Incident Aboard ISS
-
Business6 days agoOnly 4% of women globally reside in countries that offer almost complete legal equality
-
NewsBeat4 days agoEmirates confirms when flights will resume amid Dubai airport chaos
-
Politics4 days ago
FIFA hypocrisy after Israel murder over 400 Palestinian footballers
-
Crypto World6 days agoFrom Crypto Treasury to RWA: ETHZilla Retreats and Relaunches as Forum Markets on Nasdaq
-
NewsBeat2 days agoIs it acceptable to comment on the appearance of strangers in public? Readers discuss
-
Tech4 days agoViral ad shows aged Musk, Altman, and Bezos using jobless humans to power AI
