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‘2026 has not been a good year for the M5’, apologises National Highways

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The body responsible for England’s roads has formally apologised to Somerset drivers over repeated closures on the motorway


File photo dated 18/04/25 of motorway traffic on the M5 motorway near Burnham-on-Sea, Somerset. Drivers are being warned to expect the busiest Easter on the roads in four years, suggesting many are undeterred by rising fuel prices. The RAC estimated that nearly 21 million leisure journeys by car are planned between Thursday and Easter Monday. Issue date: Monday March 30, 2026. PA Photo. Photo credit should read: Ben Birchall/PA Wire

Motorway traffic on the M5 motorway near Burnham-on-Sea, Somerse(Image: Ben Birchall/PA Wire)

National Highways has issued a formal apology to Somerset drivers over the repeated closures that have plagued the M5 in recent years. Drivers in Somerset have endured numerous serious incidents on the M5 in recent memory, with collisions and welfare concerns leading to prolonged closures and diversions through quieter, more rural areas of the county.

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Somerset councillors seized upon a recent climate, environment and place scrutiny committee meeting to voice their frustrations, demanding answers from police and National Highways regarding the duration and frequency of the disruption.

Both organisations acknowledged that further work was required to address the problems, while conceding there was “no silver bullet” and only limited funding at their disposal.

Councillor Richard Wilkins, portfolio holder for highways and transport, informed the committee meeting (held in Taunton on July 9) that there were “significant concerns” about both the frequency and length of motorway closures, and urged a “positive and collaborative” approach to tackle the underlying problems.

Mr Wilkins – who represents the Curry Rivel and Langport division – said: “We need to address the year-on-year increase to the frequency and duration of the closures on the M5, and the far-reaching, region-wide impact these incidents can have.

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“When traffic is displaced onto the local road network, our roads can quickly become gridlocked, affecting people’s daily lives, disrupting businesses and services, and placing considerable pressure on our communities, our local economy and the wider south west economy.

“That’s not to mention the devastating impact to any individuals and their families who are directly caught up in any incident.

“I am keen to explore what more can be done collectively to reduce both the number of motorway closures and the length of time the motorway remains closed when incidents occur.”

Councillor Mike Rigby, portfolio holder for economic development, planning and assets, said that congestion on the M5 had “deteriorated markedly”, even beyond the peak summer holiday season.

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Mr Rigby – who represents the Lydeard division near Taunton – said: “What once appeared to be a summer problem is now year round. This year has been appalling.

“Put simply, we’ve had enough – and by ‘we’, I mean the populations and businesses of Cornwall, Devon and Somerset.

“Following the abandonment of proposals to dual the A303 and A358, we are left with one strategic road in and out of the peninsula, and it needs to work much better than it does.

“The position is immeasurably worse now that it was even a year ago. We have had the rough end of the stick regarding highways investment in the south west, and we’re not prepared to see the only decent road we have turned into a car park.”

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Ian Thompson, National Highways’ lead officer for stakeholder relations in the South West, issued a formal apology for the disruption experienced to date, saying: “We’re fully aware that 2026 has not been a good year for the M5.

“We are sorry, and we fully appreciate the impact that these incidents and closures have on the local communities – particularly Bridgwater, Taunton and the surrounding villages on the diversionary routes.

“The approved diversionary routes when the M5 is shut goes through both rural and urban locations; we accept that is not ideal.

“The solution to that is to build a new road along the M5 – that’s not happening. So the only way to deal with the impact of congestion is to reduce the number of incidents.”

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Somerset remains the only county in the South West to house two National Highways depots along the M5 — one situated near the Edithmead roundabout in Highbridge (close to junction 22) and another in the Chelston area of Wellington (close to junction 26).

Mr Thompson noted that the positioning of these depots had been “very carefully thought out” to minimise response times to incidents.

He added: “We also use strategic signing campaigns around driving standards, such as drink and drug driving, middle lane hogging – which we know is an issue on the M5 – along with our ‘TRIP’ campaign and other safety measures.”

The majority of the M5 was built during the 1960s and 1970s, with Mr Thompson suggesting that considerable upgrades would be required in the years ahead to accommodate contemporary traffic demands.

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He said: “The road is getting old. We need to invest a lot of money, and we are doing that.

“To make sure that’s done seamlessly and efficiently, with the least impact possible, we have established the M5 board to make sure we’re not clashing with local roadworks.

“The majority of the work will happen overnight – you’ll see well over £100m invested up to 2031. It’s an unprecedented amount of money.”

National Highways defines a ‘serious incident’ as one which closes one or more lanes on either or both carriageways of the motorway – such as a major collision or a “person in crisis”.

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Mr Thompson explained that police were ultimately responsible for determining how much of the road was shut and for what duration, stating: “What we do is work closely with the police and the council to make sure that, when any investigation is complete, we know what infrastructure damage there is to our asset.

“Our resources are positioned so that, when we get the scene back, our officers will attend with our supply chain. So if we’ve got a significant fuel spill, or a vehicle fire, or there’s significant damage to the road surface and barriers, we’re ready – we come in and we fix what’s happened.

“No incident which has occurred that has shut the M5 this year has been down to our assets – it’s been down to other factors beyond our control.

“It’s driving standards on the M5 that are causing these incidents. These might well be vehicle condition, the way those vehicles are being driven, or just poor driving standards.”

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Somerset accounts for 12.9 per cent of the south west’s motorway network, and 15.7 per cent of incidents leading to a closure – but 29.1 per cent of incidents caused by “persons in crisis”, according to National Highways’ own figures.

Karl Parfitt, chief executive of the Avon and Somerset police and crime commissioner’s office, said road safety concerns were being prioritised by current commissioner Clare Moody, given the increasing number of fatalities and serious injuries across Somerset’s road network.

He said: “We need to look at the current coordination and communication we’ve got during an incident, and work to see where we can improve on that.

“There may be scope or merit in having pre-planned contingencies agreed in advance, which identify what resources may be required. There is no silver bullet that can solve this.”

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Johnny Hill, National Highways’ current route manager for Somerset, Devon and Dorset, said the agency was exploring measures to alleviate congestion elsewhere across Somerset’s road network in order to reduce the strain on the M5.

He said: “We’re not coming here today to say ‘everything is perfect and there’s no work to be done’. Nobody wins when the road is closed, and nobody wants the road to be closed.

“We are looking at the route between South Petherton and Honiton, and how we can look at that holistically, to see if we try to reduce the number of incidents on it, and therefore increase its resilience. We are looking to address flooding hotspots.

“The current road investment strategy is massively renewals-heavy. Our network was all built at roughly the same time; it all starts to creak at roughly the same time, and that time is basically now.

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“That’s not to say they are going to be no improvements. There will be a number of smaller-scale improvements after the next five years.”

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Investment fueling growth for Smash Foods

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Investment fueling growth for Smash Foods

Investment of $18 million from L. Catterton will grow retail, team and brand.

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Form 4 D Wave Quantum Inc For: 29 July

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Form 4 D Wave Quantum Inc For: 29 July

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CBIZ shares soar 17% after Grant Thornton agrees to buy company in $5 billion cash deal

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CBIZ shares soar 17% after Grant Thornton agrees to buy company in $5 billion cash deal
Cbiz shares jumped 17% on Wednesday after Grant Thornton Advisors agreed to buy the professional services firm for $5 billion in cash, a deal that would create one of the largest accounting and advisory services providers in the US.

Cbiz shareholders will receive $55 per share, a 17.8% premium to the stock’s previous close. The shares rose 17.5% in premarket trade after the announcement.

The deal will make Grant Thornton the fifth-largest provider of professional, tax and advisory services in the US, behind Deloitte, EY, KPMG and PwC. The combined platform will have a presence in more than 20 countries and territories and generate nearly $7.5 billion in revenue.

“By combining our multinational platform with CBIZ’s strong market presence, we’re broadening our ability to support businesses through every stage of growth — from early development to global scale,” Grant Thornton Advisors CEO Jim Peko said.

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The transaction is expected to close in the fourth quarter of 2026. It includes a “go-shop” period that allows CBIZ to seek competing offers until August 27.


Goldman Sachs advised CBIZ on the transaction. Deutsche Bank is the lead financial adviser for Grant Thornton Advisors.
Also Read: Vertiv shares crash 14% in pre-market after Q2 revenue misses estimatesDeal overshadows mixed earnings

The acquisition announcement came alongside CBIZ’s second-quarter results, which showed a clear earnings beat but weaker-than-expected revenue.

For the quarter ended June 30, 2026, CBIZ reported adjusted diluted earnings per share of $0.91, above analysts’ estimate of $0.8046. Revenue came in at $682.2 million, about 3.2% below the $704.9 million expected by analysts.

Revenue was down 0.2% from a year earlier, hurt by a similar decline in the company’s core financial services business. Adjusted EBITDA fell 14.3% year-on-year to $103.1 million. Adjusted EBITDA margin narrowed to 15.1% from 17.6%.

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On a GAAP basis, net income dropped 55.6% to $18.6 million, or $0.31 per diluted share. The decline reflected higher operating expenses and acquisition-related costs tied to the integration of Marcum, which CBIZ bought in 2024.

The CBIZ deal is another sign of consolidation in the US accounting industry, where mid-tier firms are trying to build scale and narrow the gap with the Big Four.

Baker Tilly and Moss Adams combined last year in a $7 billion deal. CBIZ had also expanded through acquisitions, including its $2.3 billion purchase of accounting firm Marcum in 2024.

Grant Thornton has been expanding since receiving investment from a consortium led by New Mountain Capital in 2024. New Mountain is making a fresh investment to support the CBIZ transaction, which the companies said is the largest deal of its kind in more than 25 years.

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Bitcoin Steadies Near $64,000 as Crypto Traders Brace for a Pivotal Federal Reserve Rate Decision Today

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Bitcoin traded at $63,860.26 as of Wednesday afternoon, up a modest $13.14, or roughly 0.02%, as cryptocurrency markets settled into a holding pattern ahead of a Federal Reserve interest rate decision that traders across both traditional and digital asset markets have described as unusually difficult to predict.

Bitcoin opened Wednesday at $63,853.49, up 0.2% from Tuesday’s opening price, before climbing as high as $64,244.18 during the morning session, according to pricing data. The cryptocurrency’s relatively flat overall movement Wednesday followed a volatile stretch earlier in the week, including a sharp pullback Tuesday when bitcoin opened 2.5% lower than the previous day, dropping to around $63,327 as investors broadly reduced exposure to riskier assets ahead of the Fed’s two-day policy meeting.

The Federal Reserve’s rate decision, due later Wednesday, has emerged as the dominant catalyst shaping crypto market sentiment this week. According to data from the CME Group’s FedWatch tool, market participants assigned a 35.8% probability to a rate increase following the meeting’s conclusion, up sharply from 25.7% just a week earlier. Separate estimates cited by CoinDesk showed a somewhat different split, with roughly a 70% probability assigned to rates remaining unchanged and a 30% chance of a surprise quarter-point increase. Some analysts have characterized the meeting as among the hardest Fed decisions to forecast in recent years, given the unusual combination of economic signals policymakers are currently weighing.

Ether, the second-largest cryptocurrency by market value, moved somewhat more sharply than bitcoin during the same period. Ethereum opened Wednesday at $1,919.73, up 1.5% from Tuesday’s opening price, before slipping back to $1,904.82 by mid-morning, according to pricing data. Bitcoin and ether moved in opposite directions for stretches of Wednesday’s session, a divergence that market watchers attributed to renewed airstrikes in the Middle East combined with the approaching Fed announcement, both of which have added competing sources of uncertainty for crypto investors this week.

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Broader cryptocurrency market data showed modest overall improvement heading into Wednesday. The total global cryptocurrency market capitalization rose 0.4% to reach approximately $2.28 trillion, recovering from a 1.6% decline recorded the previous day, according to data from CoinMarketCap. Bitcoin’s dominance within the broader crypto market held steady at approximately 56.3%, while ether accounted for roughly 10.2% of total market value. Despite the modest recovery in headline prices, a widely tracked measure of investor sentiment, the Fear and Greed Index, remained in “fear” territory at a reading of 28 to 29, reflecting continued caution among traders even as prices stabilized somewhat.

Institutional flows into bitcoin exchange-traded funds showed signs of softening in recent sessions. Spot bitcoin ETFs recorded a net outflow of $11.6 million on July 27, ending a streak of seven consecutive sessions of net inflows, with asset managers BlackRock and Fidelity leading the pullback, according to data on ETF flows. Even so, some corporate treasury activity continued during the same window, with Hyperscale Data disclosing a bitcoin treasury holding of 1,106 bitcoin, valued at approximately $71.7 million, as of July 28, signaling that at least some institutional accumulation of the cryptocurrency has continued despite broader market softness.

Macroeconomic factors beyond the Fed decision have also weighed on crypto sentiment this week. Rising oil prices, driven by renewed hostilities between the United States and Iran, have added to broader inflation concerns across financial markets, a dynamic that traditionally creates headwinds for risk assets including cryptocurrencies. At the same time, a strengthening U.S. dollar has added further pressure, with analysts noting that the combination of higher oil prices and dollar strength has increased overall macro-volatility risk heading into the Fed’s announcement.

Trading data suggested bitcoin has largely oscillated within a defined range in recent sessions, generally trading between roughly $62,700 and $65,500. Some market analysts have pointed to that range as a key technical zone to watch in the near term, with the lower boundary near $62,700 serving as a support level and the $64,500 to $65,500 zone acting as resistance that bitcoin has struggled to convincingly break through in recent trading.

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Beyond bitcoin and ether, individual cryptocurrency tokens showed more significant divergence Wednesday. Jupiter, a decentralized finance token, rose nearly 6% to lead gains within a broader recovery among DeFi-focused tokens, while artificial intelligence-linked tokens continued to struggle, with Fetch.ai falling more than 4% on the day as AI-related crypto tokens continued unwinding gains posted the previous month.

Bitcoin’s current price level remains well below its all-time highs reached earlier in the cryptocurrency’s price cycle, though the asset has still posted substantial gains compared with prior years, with its market capitalization standing at approximately $1.27 trillion to $1.33 trillion depending on the specific pricing snapshot used, maintaining its position as by far the largest cryptocurrency by market value, well ahead of ether’s market capitalization of roughly $233 billion.

With the Federal Reserve’s decision expected to be announced later Wednesday, crypto traders and analysts broadly expect increased volatility to follow the announcement, regardless of whether the central bank opts to raise rates, hold steady, or signal a different policy path than markets currently anticipate, given how closely digital asset prices have tracked broader shifts in monetary policy expectations throughout the past several weeks of trading.

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Amazon Web Services India net profit jumps over 10-fold to Rs 242 cr in FY26

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Amazon Web Services India net profit jumps over 10-fold to Rs 242 cr in FY26
Amazon Web Services India Pvt Ltd has reported a more than 10-fold growth in consolidated net profit to Rs 242.8 crore in the financial year 2026, as per a document shared by market intelligence firm Tofler.

The cloud services arm of e-commerce giant Amazon had posted net profit of Rs 23.1 crore in FY25.

​Its consolidated revenue from operations grew by about 21 per cent to Rs 20,225.6 crore in FY26 from Rs 16,744.9 crore in FY25.

AWS, however, reported a decline of around 14 per cent in standalone net profit to Rs 242.4 crore in FY26, compared to Rs 281.5 crore in FY25.

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The company’s revenue from operations on a standalone basis grew by 21.4 per cent to Rs 20,225.6 crore during the period under review from Rs 16,659 crore in the year-ago period.


“The company’s total expenses for the fiscal were reported at Rs 19,888 crore (on a standalone basis),” Tofler said.

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Heathrow passengers to foot bill for third runway bidding process

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The initial costs are expected to be recouped through ticket prices

a British Airways plane taking off from Heathrow Airport

A British Airways plane taking off from Heathrow Airport(Image: Daniel Leal-Olivas/PA Wire)

Heathrow will be allowed to pass the enormous bill it has accumulated in preparing its third runway bid on to passengers, the aviation watchdog has confirmed, in a ruling that looks set to cement the airport’s status as the costliest in the world.

The Civil Aviation Authority (CAA) ruled that Heathrow Airport Limited (HAL) will be entitled to recoup the £320m it has already spent competing to secure the megaproject contract by increasing the fees attached to travellers’ air fares.

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Rival bidder Heathrow West was also granted permission to recover the £4.2m it has so far spent on its own proposal.

The two operators have been competing fiercely to persuade ministers to back their respective third runway plans, assembling extensive planning documents and feasibility studies, while also enlisting the services of expensive third-party advisers to bolster their bids.

For incumbent HAL, that investment has already stretched into the hundreds of millions, the CAA noted, with the hub previously arguing it needs to cover its early outlay if the expansion is to remain financially attractive, reports City AM.

In its ruling, the aviation regulator said without the design and planning efforts both bidders have undertaken to develop credible expansion proposals, the timely delivery of the third runway project would have been put at risk.

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It added that both parties would need to demonstrate their claims had been independently scrutinised line by line before being permitted to pass on the costs.

“Our decision strikes a balance between supporting the delivery of benefits to consumers through timely progress on Heathrow expansion, whilst also protecting them from undue increases in costs,” said Tim Johnson, the UK Civil Aviation Authority’s director of consumers and markets.

“The costs Heathrow can recover are capped, independently scrutinised and subject to efficiency reviews, helping ensure that passengers only pay for efficient costs that are justified.”

Under the compensation scheme, agreed following a consultation held last year, HAL will be permitted to add 10p to every passenger fare over the next 20 to 25 years. It will also be responsible for recouping Heathrow West’s more modest costs, should the rival bid led by hotel magnate Surinder Arora fail to succeed.

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The CAA reached its decision alongside a wide-ranging review of Heathrow’s overarching regulatory framework, in which it will determine whether rival operators will be permitted to own and run key infrastructure within the airport.

Airlines operating at the hub have grown increasingly frustrated with the exorbitant charges they are forced to pass on to passengers, and – in lockstep with Arora – some have established a pressure group lobbying for a wholesale shake-up of red tape at the airport.

At £28.80, the airport’s charges are already the costliest in the world, and are anticipated to climb by as much as £50 once the full expenditure of the third runway is factored in.

Wednesday’s CAA ruling will see the airport charge per passenger rise by approximately 15 pence in 2028, climbing to 30 pence in subsequent years.

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The initial costs incurred by bidders are expected to be recouped through ticket prices over a period of roughly 20 to 25 years.

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Automatic Data Processing, Inc. (ADP) Q4 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript