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HCLTech FY guidance stays muted despite $2.4 billion deal momentum

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HCLTech FY guidance stays muted despite $2.4 billion deal momentum
ET Intelligence Group: HCL Technologies reported marginally better than anticipated financial performance for the June quarter where analysts had set lower expectations amid weaker sentiments towards the IT sector marred by delayed project executions and slower decision making by clients.

The country’s third largest software exporter reported higher new deals momentum during the quarter with a total contract value of $2.4 billion compared with $1.9 billion in the previous quarter and maintained that the order pipeline was strong and deal booking would improve further in the September quarter. However, this optimism did not reflect in its full year revenue and operating margin guidance which remained unchanged from the prior quarter at 1-4% revenue growth in constant currency with a margin band of 17.5-18.5%.

HCLTech FY Guidance Stays Muted Despite $2.4Billion Deal MomentumAgencies

Mixed Signals Co logs $2.4-b order bookings; weak discretionary spending keeps outlook cautious

Similar to Tata Consultancy Services (TCS), it also announced an investment in the datacentre to help deliver full stack artificial intelligence (AI) related solutions. Barring an occasional spurt, the stock may remain range-bound until clarity on trend in discretionary client spending emerges.

The ₹3,500 crore capital expenditure on the datacentre project to create a 50 megawatt facility will be funded through a combination of debt and equity though more clarity is awaited. Last October, TCS, the country’s largest software exporter, became the first top tier Indian IT company to announce a datacentre investment estimated at around ₹55,000 crore to create one gigawatt facility.

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At the time, HCLTech had no intentions to foray into such a venture. However, almost a year later, it has decided to build such capabilities citing a scarcity of datacentre capacity required for the compute or training stage of AI models. Such projects are likely to yield benefits in medium-to-long term and their success will depend upon effective customer engagements and agility to handle technological shifts.


For the June quarter, HCLTech’s revenue fell by 0.9% sequentially to $3,650 million while operating margin improved by 40 basis points to 16.9%. In rupee terms, revenue and net profit rose by 1.8% and 3% to ₹34,579 crore and ₹4,624 crore respectively.

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July 14, 2026 Solution for Puzzle #1851

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Nancy Guthrie

Wordle players hunting for Tuesday’s answer can find it here: the solution to puzzle #1851, released July 14, 2026, is STEAK, according to multiple outlets tracking the daily New York Times word game.

The five-letter word refers to a high-quality, thick slice of meat or fish, typically cut across the muscle grain and prepared by grilling or frying, something a diner might order medium-rare at a restaurant. Puzzle trackers described Tuesday’s word as carrying a moderate difficulty rating overall, but flagged one particularly sharp trap embedded in the puzzle: STEAK shares the exact same five letters as STAKE, its perfect anagram, with only the positions of the K and A swapped between the two words.

According to puzzle guide EasternHerald, that overlap proved genuinely tricky for solvers who narrowed down the correct letter set early in their guessing but then locked in the wrong arrangement of those letters. “Solvers who narrow down the letter set early and land on STAKE first may find themselves using a precious extra guess before the correct arrangement clicks,” the guide noted. The same source pointed out that the word’s ending also opens onto a cluster of similarly structured words, including SNEAK, SPEAK, FREAK and CREAK, all of which share the same final four-letter combination and could further slow down a player’s endgame if their earlier guesses hadn’t already ruled out enough letters.

For those working through the puzzle before checking the solution, several structural clues were available. The word contains no repeated letters, begins with the two-letter combination ST and ends in EAK, distinguishing it from words like STOUT, Monday’s answer, which shared the same opening two letters. One puzzle tracker noted that Tuesday’s word marked the second consecutive day featuring an ST- opening, calling it “a coincidence worth noting” while clarifying that Wordle’s word list is not designed to intentionally cluster answers by shared starting letters.

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Wordle challenges players to guess a hidden five-letter word within six attempts, using color-coded tile feedback to indicate whether each guessed letter is correct and correctly placed, correct but misplaced, or absent from the word entirely. The game, created by software engineer Josh Wardle in 2021, was acquired by The New York Times the following year after surging in popularity, and has since become a fixture of the paper’s daily games lineup alongside titles such as Connections, Strands and the Mini Crossword.

Puzzle guides offered a familiar set of strategic reminders for players working through Tuesday’s word or preparing for future puzzles. Common advice includes opening with a word containing frequently used letters and multiple vowels, such as ADIEU, AUDIO, RAISE, ATONE or STONE, to quickly surface useful information before narrowing down toward a final answer. Guides also cautioned players to remain alert to the possibility of duplicate letters within a solution, even when a word appears straightforward at first glance, since overlooking a repeated letter has tripped up solvers on past puzzles featuring words like BUZZY, which contains a double Z.

One tracker outlined general endgame strategy for players who find themselves running low on guesses, advising a calm, methodical approach rather than rushing toward a final answer. “Stay calm under pressure,” the guide advised. “The sixth guess can feel intense, but don’t rush. Take a breath and think of all the possibilities that fit your clues.” The same source also recommended paying close attention to common word endings, such as -ED, -ER or -Y, which appear frequently among Wordle solutions and can help narrow down remaining possibilities once several letters have already been confirmed.

Looking back across recent puzzles, Tuesday’s word continued a stretch that has featured a wide mix of concrete, everyday vocabulary. According to PC Guide, the previous 10 Wordle answers before Tuesday’s puzzle were STOUT, CLACK, AVIAN, CANAL, AMEND, DEMON, SLING, TODDY, SWAMI and PIZZA. The outlet also noted that, since February 2, 2026, the New York Times has begun reintroducing older previously used words back into the daily rotation, a shift that began with CIGAR, the very first Wordle solution ever used and the first answer selected after the Times took over the game’s operation. Despite that change, puzzle trackers cautioned that recently used words are not expected to repeat again anytime soon.

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Beyond the standard daily puzzle, Wordle’s broader ecosystem has continued to expand in recent years, inspiring companion games that build on its core format. Worldle, a geography-based spinoff in which players guess a country based on its outline shape, offered WESTERN SAHARA as its answer for July 14, continuing to challenge players’ knowledge of world geography using the same six-guess, distance-based feedback structure as the original game. For fans of the Times’ broader puzzle offerings, Tuesday’s NYT Spelling Bee answer carried the center letter M, while the previous day’s Spelling Bee solution was COMMITTAL.

The puzzle’s continued popularity nearly five years after its original release has been attributed in large part to its simplicity and shareability. Each day brings exactly one new word, with no ads interrupting the format, and players can share their results on social media through a grid of colored squares that reveals their guessing pattern without spoiling the actual answer for others who haven’t yet played. That shareable format helped fuel Wordle’s rapid rise in the early 2020s and has continued to sustain a large, dedicated daily audience in the years since.

Players who did not solve Tuesday’s puzzle were reminded by tracking outlets that a new Wordle puzzle becomes available every day at midnight in each player’s local time zone, meaning a missed word carries no bearing on future attempts and streak-conscious players can simply pick back up with the next day’s release. The Times has continued to expand its broader portfolio of daily puzzle offerings in recent years, part of a wider strategy aimed at keeping readers returning to its games platform on a consistent basis, with Wordle remaining the most widely recognized entry point into that ecosystem.

Wednesday’s Wordle puzzle is set to reset at midnight Eastern time, continuing the game’s unbroken daily cadence. Players looking for an early head start on hints can typically expect a new round of guides and clues to appear across puzzle-tracking sites shortly after the transition, following the same structural format used for Tuesday’s reveal.

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Chipotle: US burrito chain opening first outlet in Mexico

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A chicken bowl from Chipotle with a drink and a dip.

Internet users have been split over Chipotle’s entry into Mexico.

“Bold move selling Mexico a corporate version of Mexico,” a commenter on X said.

Another X post questioned why Mexicans would pay for Chipotle when they have “perfectly fine and healthy food available to them?”

“It’s like Pizza Hut [opening a] location in Napoli, makes no sense,” said another.

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“Next up, Panda Express opening its first mainland China location,” one post read, referring to the US chain that specialises in Chinese food.

The move could be an important test for Chipotle’s plans to expand globally, one wrote, while another suggested the chain could do well as a “tourist novelty”.

The company plans to open up to 370 new restaurants globally this year, including new outlets in Singapore and South Korea.

Many commenters drew comparisons with other US chains like Taco Bell that have tried to break into countries that their menus took inspiration from.

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Taco Bell has tried and failed to establish itself in Mexico twice, despite being one of the world’s biggest fast food franchises.

The chain moved out of the country in 2010 after failing to attract Mexican diners.

Domino’s Pizza closed its last outlets in Italy – the birthplace of pizza – in 2022 after facing stiff competition from local restaurants since it opened there seven years earlier.

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Timee: Our Framework In Action (OTC Markets:TMEEF)

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Timee: Our Framework In Action (OTC Markets:TMEEF)

Professional Workforce Data Network Connection Business Background

kentoh/iStock via Getty Images

The following segment was excerpted from the Bristlemoon Global Fund Q2 2026 Report.


In our March 2026 letter, we introduced our compounding/conviction position sizing framework, which decomposes each investment position into two distinct exposures: 1) the compounding position; and 2) the

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BHP workers to proceed with strike after talks fail, union says

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BHP workers to proceed with strike after talks fail, union says

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How US commerce secretary’s Epstein links were uncovered by British whistleblower

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Close-up portrait of Howard Lutnick with a short grey beard and receding hairline, wearing a dark suit jacket, white shirt, and dark tie. The person is turned slightly to the side and looking toward the camera. The background is softly blurred with warm brown and amber tones, creating a shallow depth-of-field effect.

Four years earlier in Florida, Epstein had been sent to prison for two charges of soliciting prostitution – including one with a minor.

Andriesz suspected there was yet more to find in the Epstein files that could back up his claims – if only people knew where to look in the 3.5 million pages of documents.

“Everyone was searching ‘Lutnick’,” he says. He knew, though, that Cantor Fitzgerald executives preferred to use initials rather than full names in their emails.

Andriesz searched for “HWL” (Howard William Lutnick) and found emails sent to and from Epstein in 2018. Epstein had talked directly to Lutnick about a digital advertising company called Adfin, in which he and Lutnick’s firm, Cantor Fitzgerald, had both invested.

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Andriesz spotted correspondence, external where Epstein had directly asked the HWL account: “what do you think the prospects for adfin are?”

Lutnick responded: “Producing revenue finally. This is their year. Next 12 months they need to become economically self-sufficient.”

Andriesz then shared this information with US politicians on the House Oversight Committee, the US Congress’s main investigatory committee.

Lutnick agreed to appear before the committee in an off-camera hearing in May.

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He has not been accused of any wrongdoing in connection with Epstein, and he told the committee: “I unequivocally condemn the conduct attributed to Jeffrey Epstein and everyone who participated in his illegal activities. The survivors of his crimes deserve our respect and support.”

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U.S. Pet Insurance Direct Premiums Written Hit Record High In Q1'26

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U.S. Pet Insurance Market Growth Slows In 2025, But Still Robust

U.S. Pet Insurance Direct Premiums Written Hit Record High In Q1'26

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July 14, 2026 Solution for Puzzle #1129 With Full Category Breakdown

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Nancy Guthrie

Puzzle fans working through Tuesday’s New York Times Connections game have their solution: puzzle #1129, released July 14, 2026, sorted 16 words into four groups spanning synonyms for a contract, computer edit menu commands, types of baskets and a clever visual category built around symbols commonly represented by arrows, according to multiple outlets tracking the daily puzzle.

Connections challenges players to organize 16 seemingly unrelated words into four hidden groups of four, with each group linked by a shared theme, color-coded by difficulty from yellow, the easiest, through green, blue and finally purple, traditionally the most difficult and often built around wordplay or non-verbal connections rather than straightforward meaning. Players select four words at a time and submit a guess, with the game indicating correct groupings by color and offering a “one away” warning when a guess is close but not quite right. Four incorrect guesses end the puzzle.

Tuesday’s yellow category centered on synonyms for a contract, grouping the words agreement, bargain, deal and understanding, all terms describing a formal or informal arrangement reached between parties. The green group asked players to identify common edit menu options found in most software applications, linking copy, cut, delete and paste, a set of commands familiar to anyone who has worked within a standard computer text-editing interface.

The blue category, one level up in difficulty, gathered different kinds of baskets, connecting Easter, grocery, laundry and picnic, each pairing with the word “basket” to form a recognizable everyday phrase. The puzzle’s purple group, traditionally its trickiest, required players to identify concepts commonly symbolized with arrows rather than described through a shared verbal meaning, linking recycling, shuffle, this side up and U-turn. According to puzzle guide NerdsChalk, that final category relied on visual rather than verbal logic. “The connection is visual rather than verbal. Each item is commonly represented by arrows. Some appear on signs or packaging,” the guide noted, pointing to how each of the four concepts is typically depicted through arrow-based iconography, whether on a recycling symbol, a shuffle button on a music player, a shipping label reading “this side up,” or a road sign indicating a permitted U-turn.

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One puzzle guide covering Tuesday’s board described the overall design as blending practical, everyday vocabulary with more conceptual, symbol-based thinking. “Today’s grid featured a combination of practical everyday vocabulary and conceptual connections,” NerdsChalk wrote. “Solvers likely spotted one or two categories quickly, but distinguishing between similar meanings and identifying the symbol-based group may have taken extra thought. The puzzle rewarded careful observation and attention to context.” The same source offered a general strategy tip for approaching similarly structured puzzles going forward. “The 14 July 2026 Connections puzzle balances straightforward action words with trickier conceptual links, making it satisfying once everything clicks,” the guide wrote, advising players to “lock in obvious verb groups early, then examine remaining words for structural patterns or shared cultural references.”

Connections was developed internally by the Times and rolled out widely in 2023 following a beta testing period, building on the momentum generated by Wordle, which the paper had acquired the previous year. Since its full launch, Connections has become one of the more popular entries in the Times’ expanding games section, which also includes Wordle, Strands, the Mini Crossword, Sudoku and Pips, part of a broader strategy by the paper to build a suite of daily puzzles that keeps readers returning to its platform consistently.

The category names themselves remain hidden from players at the outset of each puzzle, requiring solvers to infer each group’s connecting theme purely from the 16 scrambled words presented on the board. That design choice has made the game notably prone to misdirection, since certain words are often deliberately chosen because they could plausibly fit into more than one category before a puzzle’s true structure becomes clear. Tuesday’s board illustrated that tendency well, given that words like “deal” and “cut” carry multiple everyday meanings that could have initially pointed solvers toward the wrong grouping before the puzzle’s true categories became apparent.

The NYT’s own official guidance for tackling Connections encourages players to start with the categories they feel most confident about, think through alternate meanings or uses of ambiguous words, and pay attention to shared word endings or suffixes that might hint at a hidden pattern, strategies that align closely with the kind of layered thinking Tuesday’s board rewarded, particularly given the shift required to solve the visually oriented purple group.

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Beyond the standard Connections puzzle, the Times has also continued expanding into sports-specific content through its ownership of The Athletic, with Connections: Sports Edition offering a spinoff format that resets daily at midnight Eastern time alongside the main puzzle, asking players to group 16 sports-related terms into four themed categories drawn from teams, players and league-specific vocabulary.

For players who prefer working through Connections gradually rather than seeing the full solution at once, most puzzle-tracking outlets offer graduated hint systems that follow the game’s own difficulty ladder, presenting clues from the yellow category through purple in ascending order of difficulty. That structure allows players to request a partial nudge, such as a thematic hint for the purple category alone, without necessarily spoiling the remaining groups if they would still like to solve those independently.

Access to the daily Connections puzzle, along with Wordle and the Mini Crossword, remains free through the Times’ games app and website, while the publication’s full puzzle archive, spanning more than 1,100 previous Connections boards, requires a Times Games subscription to access. The paper has continued to build out tools surrounding its puzzle offerings in recent years, including performance-tracking features that let players monitor their solving statistics over time, similar in spirit to the Wordle Bot analysis tool available for that game.

Wednesday’s Connections puzzle is scheduled to reset at midnight Eastern time, continuing the game’s daily rotation. Players looking for hints ahead of the next release can typically expect updated guides to appear across puzzle-tracking sites within hours of each new puzzle going live, following the same category-by-category format used to break down Tuesday’s grid.

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Full List of Players for American, National League Squads in Philadelphia Tuesday

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Shohei Ohtani

Major League Baseball unveiled the full rosters for the 2026 All-Star Game on July 4, setting the stage for Tuesday’s Midsummer Classic at Citizens Bank Park in Philadelphia, with the Los Angeles Dodgers, Atlanta Braves and Philadelphia Phillies each sending five players, more than any other franchise in either league.

Starters were determined by fan voting, with Dodgers designated hitter Shohei Ohtani and Toronto Blue Jays infielder Ernie Clement receiving the most votes in their respective leagues, allowing both to skip the second phase of balloting entirely. The remainder of each 32-player roster was filled out through player voting and selections made by the commissioner’s office, which ensures all 30 MLB teams have at least one representative. In the American League, the New York Yankees, Blue Jays and Tampa Bay Rays led all clubs with four selections apiece. Dodgers manager Dave Roberts will lead the National League squad, a reward for guiding Los Angeles to last year’s World Series title, while Blue Jays manager John Schneider will helm the American League.

American League Starters: Catcher Shea Langeliers (Athletics); first baseman Vladimir Guerrero Jr. (Blue Jays), though he later opted out with back discomfort; second baseman Ernie Clement (Blue Jays); shortstop Bobby Witt Jr. (Royals); third baseman Junior Caminero (Rays); outfielders Mike Trout (Angels), Byron Buxton (Twins) and Aaron Judge (Yankees); and designated hitter Yordan Alvarez (Astros).

American League Reserves: Catchers Dillon Dingler (Tigers) and Adley Rutschman (Orioles); first basemen Yandy Díaz (Rays) and Nick Kurtz (Athletics); second baseman Travis Bazzana (Guardians); third baseman Miguel Vargas (White Sox); infielder Kevin McGonigle (Tigers); outfielders Cody Bellinger (Yankees), Randy Arozarena (Mariners) and Riley Greene (Tigers).

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American League Pitchers: Bryan Baker (Rays), Dylan Cease (Blue Jays), Aroldis Chapman (Red Sox), Jacob Latz (Rangers), Parker Messick (Guardians), Drew Rasmussen (Rays), Joe Ryan (Twins), Cam Schlittler (Yankees), Cade Smith (Guardians), Ranger Suárez (Red Sox), Louie Varland (Blue Jays) and Michael Wacha (Royals).

National League Starters: Catcher Drake Baldwin (Braves); first baseman Freddie Freeman (Dodgers); second baseman Ozzie Albies (Braves); shortstop CJ Abrams (Nationals); third baseman Max Muncy (Dodgers); outfielders Brandon Marsh (Phillies), Juan Soto (Mets) and Andy Pages (Dodgers); and designated hitter Shohei Ohtani (Dodgers), who was originally expected to get one or two at-bats but was ultimately ruled out due to knee discomfort ahead of a scheduled offseason procedure.

National League Reserves: Catchers Hunter Goodman (Rockies) and William Contreras (Brewers); first basemen Matt Olson (Braves), Sal Stewart (Reds) and Bryce Harper (Phillies); second baseman Luis Arraez (Giants); shortstop Otto Lopez (Marlins); outfielders Corbin Carroll (Diamondbacks), Pete Crow-Armstrong (Cubs), Jordan Walker (Cardinals) and James Wood (Nationals); and designated hitter Kyle Schwarber (Phillies).

National League Pitchers: Chase Burns (Reds), Jhoan Duran (Phillies), Raisel Iglesias (Braves), Max Meyer (Marlins), Mason Miller (Padres), Jacob Misiorowski (Brewers), Eduardo Rodriguez (Diamondbacks), Cristopher Sánchez (Phillies), Chris Sale (Braves), Paul Skenes (Pirates), Logan Webb (Giants) and Yoshinobu Yamamoto (Dodgers).

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The rosters underwent several notable changes in the days between their initial announcement and Tuesday’s game. Commissioner Rob Manfred added future Hall of Famer Justin Verlander to the American League roster as a special Legends Pick on July 8, honoring the veteran right-hander even though hip and hamstring injuries have kept him out of action since March 30 and will prevent him from pitching in the game itself. Verlander subsequently announced that 2026 will be his final season. Judge was later ruled out due to injury, with Boston Red Sox outfielder Ceddanne Rafaela added as his replacement on the American League roster, while Buxton was also scratched after landing on the injured list. Guerrero’s decision to skip the game to rest his back led to Kurtz being elevated into the American League’s starting lineup, with catcher Willson Contreras added to the roster as a further replacement. On the National League pitching staff, right-handers Riley O’Brien, Jesús Luzardo and Braxton Ashcraft were all added following a mix of injuries and scheduling conflicts that opened additional roster spots. Brewers right-hander Jacob Misiorowski, while officially named to the roster, is not expected to pitch in the game itself.

Tuesday’s Midsummer Classic caps a multi-day celebration of the sport in Philadelphia that also included the 2026 MLB Draft, held July 11 and 12, the annual Futures Game showcasing top prospects on July 12, and the T-Mobile Home Run Derby on July 13, which streamed exclusively on Netflix for the first time in the event’s history, ending ESPN’s run as its broadcaster since 1994.

This year’s National League pitching staff has drawn particular attention for its depth, with nine qualified National League starters carrying sub-3.00 ERAs entering All-Star week, a group that includes several pitchers who did not even make the final roster. Ohtani himself enters the break with a 1.47 ERA on the mound, a figure that ranks among the best in baseball despite his absence from Tuesday’s lineup, alongside other standout arms including San Francisco’s Logan Webb and Philadelphia’s Cristopher Sánchez, both of whom did earn selections to the National League staff.

The 2026 All-Star Game also carries added significance tied to the 250th anniversary of the United States, with MLB incorporating commemorative elements into the Midsummer Classic festivities held in Philadelphia, a city with deep historical ties to the nation’s founding. Every one of MLB’s 30 franchises has at least one representative on this year’s combined rosters, continuing a long-standing tradition designed to ensure balanced representation across the league regardless of team performance during the first half of the season.

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First pitch for Tuesday’s game is scheduled for 8 p.m. Eastern time, broadcast live on FOX from Citizens Bank Park, bringing together the sport’s top performers from the season’s opening half for what promises to be one of the more closely watched All-Star Games in recent memory, both for the caliber of talent on display and the celebratory backdrop surrounding the event’s return to Philadelphia.

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Burnham urged to act on day one

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80% of SME Owners Fear for Their Business

Andy Burnham will walk into Downing Street next week with an in-tray already overflowing, but business has told him exactly where to start: energy bills that sit 45 per cent above the G7 average and act, in the words of the CBI and Energy UK, as an “anchor” holding back the economy.

Stripping a suite of green levies out of business energy bills could cut costs by a fifth and deliver a £130 billion boost to the economy by 2050, according to a report from the two lobby groups published on Tuesday, compiled with analysis from Cornwall Insight and the National Institute of Economic and Social Research.

For smaller firms the stakes are immediate. Retailers, food and drink producers and hospitality businesses, the sectors least able to hedge or absorb energy costs, stand to benefit most from the recommendations. That will resonate with the eight in ten SME owners who already fear what a Burnham premiership will mean for their business.

The problem is not new, but it is getting worse. Britain’s electricity prices put firms at a competitive disadvantage, stifle investment and have contributed to the country’s sluggish productivity growth since the 2008 financial crisis, official price data shows. The war in the Middle East has compounded the pain, with the UK’s heavy reliance on imported gas pushing factory costs up at their fastest pace since Black Wednesday.

The report’s central charge is that successive Conservative and Labour governments have spent decades loading the cost of the net-zero transition onto electricity bills. Its remedies include scrapping the renewables obligation, a scheme launched in 2002 requiring suppliers to provide a set quantity of renewable energy, and ditching a two-decade-old levy on businesses using electricity generated outside the UK. The lost revenue, it argues, should be recouped through general taxation or a public fund.

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Dhara Vyas, the chief executive of Energy UK, said: “Energy is an essential service that underpins both daily life and economic growth. Yet years of making policy decisions with little regard to the impact on business energy users has left the UK with some of the highest industrial energy costs in the developed world.”

Louise Hellem, the CBI’s chief economist, said: “With a new prime minister coming into office, it’s clear that reducing business energy costs must be a day-one priority. If we want to tackle the cost of living and invest in public services, we need stronger economic growth, and that can’t happen while firms are navigating sky-high energy bills.”

Whether Burnham listens may hinge on who he installs next door. Ed Miliband, seen as his most likely choice to replace Rachel Reeves as chancellor, has rigorously pursued the fastest possible route off fossil fuels as energy secretary, drawing criticism from business groups who argue the private sector is shouldering too much of the net-zero burden. Sowing early tension between Numbers 10 and 11 is the last thing Burnham needs, with voters having deserted Labour over Reeves’s £25 billion payroll tax raid and the botched winter fuel U-turn.

Reeves is expected to strike a valedictory note at the Mansion House dinner this evening, saying the government has been “fixing the foundations, restoring economic stability, and proving our capacity to deliver radical change”.

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Burnham, for his part, wants to reindustrialise the economy. The report’s verdict is blunt: that will be impossible “on the back of some of the most expensive electricity in the developed world”. With one in four manufacturers already moving production abroad or weighing it up, SME owners will learn a great deal from the new prime minister’s first appointment, and his first bill.


Paul Jones

Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.

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Manchester-Sheffield tunnel plans: How Norway-style transport vision could slash travel times between Yorkshire and the North West

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Project backers say it would boost local economies and improve Peak District environment

A628 Woodhead Pass

A628 Woodhead Pass(Image: Google Maps)

A 14-mile tunnel beneath the Peak District mountains could cut journey times between Manchester and Sheffield by 30 minutes, according to an ambitious proposal.

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A Norway-inspired dual carriageway would see the snakes of traffic commuting between Manchester and Sheffield removed from the national park, and sent underground instead.

The Woodhead railway line between the major northern cities would also be restored under the plans. The fast line between the two major northern cities closed to the public in the 1970s and then entirely in 1981.

This scheme, named ‘Trans-Pennine Connect’, aims to make transport between south Yorkshire and the north west better. By putting that traffic underground, they say they can hand the Peak District landscape back to nature.

This in turn, they say, could boost the productivity of the region and inject millions into the local economy. The construction of the Mottram bypass is currently ongoing, there is belief Trans-Pennine Connect would link to this scheme and take traffic through the tunnel towards Sheffield – improving journey times.

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Fresh plans to build the stretch of 14-mile dual carriageway come years after the government shelved a similar scheme – estimating a £10.6bn cost. Now Future Works, a group of infrastructure experts, believe this can be done for just under £2bn.

Michael Dnes, the co-founder of Future Works, says he had guilt about this scheme never getting off the ground during his time working at the Department for Transport. And when he left DfT in 2024 he sought out a cheaper way of getting it done.

He looked to Norway for answers – who built the world’s longest road tunnel, the 24.5km Lærdal in Norway, for around £130 million.

Rather than using the standard British approach of a tunnel-boring machine, Future Works has looked into the drill-and-blast method applied to tunnels in Norway. This system replaces giant machinery with more traditional mining techniques, the natural strength of the rock and small expert crews.

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Although this would not work in many areas of the UK, the expert teams believe this ‘drill-and-blast’ method could work in this area due to the geology of the Pennines. This is because the tunnels built in Norway go through mountains with similar rocks.

A spokesperson for Future Works, said: “High demand for the route means that the project could pay for itself, without the need for Westminster funding.

Route map for the Trans-Pennine Connect scheme between Manchester and Sheffield

A route map for the Trans-Pennine Connect scheme between Manchester and Sheffield(Image: Future Works)

“Scandinavian tunnels are often owned by local councils, who recover the costs through tolls. Equally, northern pension funds have hundreds of billions in investment capital that could be mobilised to build the project.

“Many options exist – public, private and partnership. Future Works was set up by infrastructure experts Michael Dnes and Alex Griffiths, with a combined expertise in more than £100bn of infrastructure projects. They aim to create a shovel-ready scheme, and to bring this through the planning system faster than the 10+ year processes that have become the norm in UK planning.

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“Work could begin before the end of the decade, with the road and railway open in the mid-2030s.”

Now the ‘Trans-Pennine Connect’ scheme has been revealed, the next stage is to generate funding in order to actually get it started

. To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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