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Jon DiPietra on Valuing New York’s Landmark Real Estate

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Jon DiPietra on Valuing New York’s Landmark Real Estate

Jon A. DiPietra is a commercial real estate valuation executive based in New York City and the co-founder and Executive Vice President of H&T Appraisal, the valuation division of Horvath & Tremblay.

With more than two decades of experience, he has built a reputation for disciplined analysis, leadership, and a deep understanding of complex property markets.

DiPietra was born in New York City and spent his early years in New Jersey before moving to upstate New York, where he attended Shaker High School. He later studied accounting and finance while living in Burlington, Vermont. He eventually returned to New York City and began his career as an equity trader, gaining first-hand insight into how financial markets operate.

He later transitioned into real estate valuation as a residential appraiser and quickly developed a strong interest in the field. The work required problem-solving, research, and careful judgment. Over time, he moved into commercial appraisal, valuing apartment buildings, mixed-use properties, retail centres, industrial facilities, and office towers.

As his experience grew, DiPietra worked on some of New York City’s most prominent assets, including the New York Times Building and several World Trade Center properties. He later led the New York office of a major real estate services firm, managing a team of 40 professionals and overseeing thousands of appraisal reports annually.

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Today, as co-founder of H&T Appraisal, he is focused on building a national valuation practice while continuing to contribute to the commercial real estate industry through disciplined analysis and a commitment to lifelong learning.

Q: Let’s start at the beginning. What first drew you into the world of finance and real estate?

I grew up between New Jersey and upstate New York, and I was always curious about how businesses and markets worked. After finishing school, I moved to Burlington, Vermont, where I studied accounting and finance while also spending some time pursuing music. It was a fun period of life, but eventually I realised I wanted to focus on business. I moved back to New York City and began working as an equity trader. That experience was important. It gave me a front-row seat to how markets behave in real time.

Q: What made you transition from trading to real estate valuation?

Trading taught me how markets price risk, but I was drawn to work that involved deeper analysis and problem-solving. I entered the real estate valuation field as a residential appraiser. I quickly found that the work suited me. Every assignment required research and careful judgment. No two properties were exactly the same. That variety kept the work interesting.

Q: How did your career evolve from residential work into commercial valuation?

After gaining experience in residential appraisal, I began working on commercial assignments. I started with smaller properties such as apartment buildings and mixed-use assets. Over time, the work became more complex. I moved into retail centres, industrial facilities, and office buildings. The commercial side of the industry demands a broader understanding of markets, leases, and capital structures. It pushed me to keep learning.

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Q: You’ve appraised some of New York City’s most recognisable buildings. What is different about valuing landmark assets?

Landmark properties come with varying levels of complexity. When you appraise a building like the New York Times Building or properties within the World Trade Center complex, the scale is enormous. These assets involve sophisticated ownership structures, major corporate tenants, and global investor attention. A small change in an assumption can significantly affect value. That means the analysis has to be extremely disciplined.

Q: What does that process actually look like behind the scenes?

It involves a lot of research. You are studying lease structures, tenant credit quality, operating costs, and market trends. You are also reviewing comparable sales and rental data. In a city like New York, even a few blocks can make a difference in value. Understanding those micro-markets is critical. The work requires patience and precision.

Q: At one point, you led a large appraisal team in New York. What was that experience like?

Leading a team changes your perspective. I managed a group of about 40 professionals who produced thousands of appraisal reports each year. When you operate at that scale, systems and standards become very important. You need a consistent methodology and strong internal review processes. Leadership in that environment is about maintaining quality while helping people develop their own skills.

Q: You later co-founded H&T Appraisal. What motivated that step?

After many years in the industry, I felt ready for a new challenge. Launching a firm allowed me to focus on building something from the ground up. The goal has been to create a valuation practice that combines disciplined analysis with strong professional standards. We are working to expand coverage nationally while maintaining the technical quality that clients expect.

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Q: The real estate market has changed significantly over the years. How do you keep up with those shifts?

You have to stay curious. Markets evolve constantly. Interest rates change. Demand patterns shift. Technology influences how buildings are used. I spend a lot of time reading market research, economic reports, and historical analysis. The more context you have, the better you can interpret what is happening today.

Q: You’ve mentioned curiosity several times. Why is that important in valuation work?

Valuation is not just a formula. It involves judgement. Two professionals can review the same data and arrive at slightly different conclusions. What matters is whether your reasoning is supported by evidence. Curiosity helps you ask better questions. It pushes you to examine assumptions rather than accept them at face value.

Q: Outside of work, what keeps you grounded?

I enjoy skiing and riding enduro motorcycles. Both activities require focus and balance, which is not very different from business. You have to pay attention to your surroundings and adjust quickly when conditions change. I also spend time reading about art, history, and anthropology. Those subjects provide perspective on how cities and societies evolve over time.

Q: When you look at your career so far, what stands out most to you?

The variety. Real estate valuation gives you a unique view into how cities grow and how markets function. One week, you may be studying a small mixed-use property. Next, you may be analysing a major office tower. That constant change keeps the work engaging.

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Q: Finally, what advice would you give someone entering the field today?

Stay curious and stay disciplined. Learn the fundamentals of analysis, but also pay attention to how markets behave in the real world. Real estate is a long-cycle business. If you commit to understanding it deeply and continue learning, the opportunities tend to follow.

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Reds10 Group takes stake in Hull steel fabrication firm ESL Fabrication Engineers

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Hull steel fabrication business ESL Fabrication Engineers has been partially acquired by the Driffield-based offsite modular construction group

Reds10 Group operates five factories in Driffield.

Paul Ruddick, chief executive of Reds10 Group.(Image: Reds10 Group)

A Hull-based steelwork company employing just under 50 staff has been partially taken over by leading offsite and modular construction firm Reds10 Group. ESL Fabrication Engineers was established by father and son duo Paul and Gareth Thompson in 2010, and focuses on steel fabrication, encompassing walkways, spiral staircases and fire escapes.

The company operates out of a purpose-built facility on Burma Drive, where it has produced structures that have been exported to destinations as far afield as New York and Papua New Guinea. ESL is reported to have grown consistently since its inception 16 years ago, and now Reds10 — which manufactures its buildings in Driffield — has made a strategic investment in the business.

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ESL will be incorporated into the recently formed Reds10 Group, alongside Reds10 and its eight sister companies. The two firms are said to have a well-established working relationship, having collaborated over the past five years on the delivery of public sector buildings.

ESL employs about 50 people.

ESL’s Hull operation.(Image: Google Streetview)

Paul Ruddick, chief executive of Reds10 Group, said: “Having worked with ESL for several years, we’ve seen first‐hand the consistent quality of their service and their ambition for excellence and growth, values that closely align with our own.

“Bringing steel fabrication into the Reds10 Group adds a critical piece of the jigsaw as we launch our next phase of strategic growth to exploit advancing technologies, while integrating AI at every level of the business.”

Gareth Thompson, co-founder and managing director of ESL said: “We’ve come a long way since ESL’s inception in 2010 and our partnership with Reds10 feels like a natural next step that will bring clear benefits to both businesses. This marks an exciting next phase in our evolution, and we look forward to building on the strong working relationship we’ve developed with Reds10 in recent years and maximising the opportunities ahead.”

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Reds10 and ESL’s collaboration has concentrated on the defence, education, justice and health sectors. The fresh partnership comes after robust financial performance from Reds10, which posted revenue of £144.7m and operating profit of £6.8m, reports Hull Live.

The group, which also operates in the South East, is targeting revenue growth to £500m through expanded activity in the healthcare, affordable housing and temporary accommodation markets.

Its five Driffield manufacturing facilities span 300,000 sqft. The structures produced there are subsequently transported and erected on site at schemes throughout the UK.

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Tyson Foods adds prepared meat products

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Tyson Foods adds prepared meat products

Company is rolling out two flavor innovations and a new product line. 

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Papa John’s partners with Alphabet’s Wing to test drone delivery

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Papa John’s partners with Alphabet’s Wing to test drone delivery

Papa John’s is teaming with Alphabet-owned drone company Wing to test autonomous food delivery in North Carolina, marking a new push by major restaurant chains into AI-powered logistics.

The pilot, launching in the Charlotte area, will allow customers near Sun Valley Commons in Indian Trail to order select Papa John’s menu items through the Wing app for drone delivery. The initial offering will focus primarily on oven-toasted sandwiches.

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Executives say the partnership is aimed at addressing the costly “last mile” of delivery, a longstanding challenge for restaurants that rely heavily on drivers and third-party platforms.

papa john's pizza

The pilot program is taking off in the Charlotte, North Carolina, area. (Ian Forsyth/Getty Images)

FROZEN PIZZA SOLD AT WALMART, ALDI RECALLED OVER SALMONELLA CONCERNS

A delivery person carrying Papa Johns pizza box.

The drone delivery service will primarily focus on sandwiches. (Shelby Knowles/Bloomberg via Getty Images)

The effort is Wing’s first direct partnership with a national restaurant brand and builds on Papa John’s broader relationship with Google Cloud. Papa John’s is looking to eventually integrate drone delivery into its own app and AI-powered ordering system, known as “Lou AI.”

Papa John's

Papa John’s is partnering with Alphabet-owned Wing. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)

The companies are also working through logistics challenges, including packaging and load design, as they explore how to safely transport hot food by air – a sign the technology remains in its early stages.

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While the pilot is limited in scope, it reflects growing interest across the restaurant and tech industries in automating delivery to cut costs and speed up service.

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IT specialist Zenzero moves into historic Leeds building Concordia Works

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The deal was struck by the Leeds office of Knight Frank

Inside Concordia Works

Inside Concordia Works(Image: Knight Frank)

Growing IT support services firm Zenzero is moving into a prime office in Leeds city centre. The tech specialist has struck a deal to take 3,056 sq ft on the second floor of the historic Concordia Works, in a transaction overseen by the Leeds office of property consultancy Knight Frank.

Set over five floors, the 13,922 sq ft Concordia Work was built in the early 20th century. The former yarn and cord warehouse was refurbished by Boultbee Brooks with modern businesses in mind, whilst maintaining its existing structure and original period features. Zenzero will move into the building on a ten-year lease.

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Louis Lawley-Adams, Zenzero’s strategy and business operations director, said: “Moving to Concordia Works marks an exciting new chapter for Zenzero. The space will provide the perfect setting for our staff to collaborate, innovate, and thrive, while supporting the continued growth of our business.

“We’re incredibly pleased to be part of this next step and look forward to everything this move will bring for our team, our customers, and the wider community.”

James Whicher of landlords Boultbee Brooks said: “We’re delighted to welcome our Zenzero to Concordia Works and to see this BCO award-winning Leeds office building continue to attract high-quality occupiers.

The exterior of Concordia Works in Leeds

The exterior of Concordia Works in Leeds(Image: Knight Frank)

“It’s fantastic to see the building’s distinctive identity continuing to resonate with businesses. With only one floor now remaining before the building is fully let, this latest letting underlines the continued demand for high-quality, character workspace in Leeds. We wish the team every success in their new home and look forward to seeing them thrive here.”

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The Zenzero letting comes after the arrival of software company PanIntelligence, which moved into Concordia Works last summer, taking the 3,036 sq ft third floor of the building on a five-year lease.

The other occupier at Concordia Works is Caldero on the ground and lower ground floors, with now only the newly refurbished first floor available to lease

Victoria Harris, associate in the office agency at Knight Frank in Leeds, added: “Concordia Works has excellent transport links with the property just moments away from Leeds City Station. The M1 and M621 motorways are only a five-minute drive away and two large multi-storey car parks are located 100 yards from the building’s front door.

“For those who prefer a greener mode of travel, riverside cycle paths run close to Concordia Works. By creating cutting-edge workspace in an attractive, historic setting, Boultbee Brooks have satisfied a pent-up need for trendy office space in the centre of Leeds. We expect significant interest in the remaining space in the building.”

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Ex-rugby star on the joys of his own burger stall

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Ex-rugby star on the joys of his own burger stall

Ex-England and Leicester Tigers hooker Tom Youngs says the new venture brings families to the farm.

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Verizon Down for Hundreds on May 13 as Users Report Service Issues Across U.S.

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The tech sector led record gains in the S&P 500 index. Pictured: a man with umbrella walks past the New York Stock Exchange.

NEW YORK — Verizon Communications is experiencing service disruptions affecting hundreds of subscribers Wednesday, May 13, 2026, according to real-time alerts and user reports circulating online, though the issues appear limited in scope rather than a repeat of the massive nationwide outages that plagued the carrier earlier this year.

The outage monitoring account @status_is_down on X posted at 14:22 GMT, stating “Verizon is down for hundreds of subscribers right now. Are you one of them?” and linking to a community forum discussion titled “Is Verizon down May 13 2026?” The post quickly gained traction among frustrated customers seeking confirmation that their connectivity problems were not isolated.

Downdetector and similar platforms showed elevated but not catastrophic reports for Verizon wireless and 5G home internet in the past 24 hours. Most complaints clustered around mobile phone service and data connectivity rather than a complete network failure. Verizon’s official status dashboard indicated normal operations across major regions as of mid-morning Eastern time, with no broad alerts posted.

This latest flare-up comes months after Verizon’s infamous January 14 nationwide outage that left millions in “SOS-only” mode for nearly 10 hours. That incident, blamed on a software issue rather than a cyberattack, prompted account credits, an FCC investigation and heightened scrutiny of the carrier’s reliability claims. Smaller disruptions have occurred since, including a May 5 fiber-cut event in Western Pennsylvania that affected eastern U.S. customers.

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Today’s reports appear more regional or device-specific. Customers in various markets described dropped calls, slow data speeds, failed texts and intermittent 5G connections. Some noted their phones switching to Wi-Fi calling automatically or displaying error messages. The volume of complaints — hundreds rather than the millions seen in January — suggests localized congestion, maintenance activity or a targeted software glitch rather than a core network collapse.

Verizon has not issued a public statement specific to May 13 issues. The company’s support pages encourage users to check network status via the My Verizon app or website. Standard troubleshooting steps recommended by the carrier include restarting devices, toggling airplane mode, updating software and testing Wi-Fi calling as a temporary workaround.

For those still affected, experts advise patience. Many such incidents resolve within minutes to a few hours as automated systems reroute traffic or engineers address underlying causes. Verizon typically credits accounts when outages exceed certain thresholds, though no formal announcement has been made for today’s reports.

The timing coincides with peak weekday usage across the U.S., when streaming, remote work and commute-related data demands strain networks. Verizon serves more than 146 million wireless subscribers and continues expanding its 5G Ultra Wideband footprint. Rapid growth in data consumption from AI applications, video calls and connected devices has increased pressure on infrastructure even as the carrier invests billions in upgrades.

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Industry observers note that occasional service hiccups have become an unfortunate reality for all major carriers. AT&T and T-Mobile have faced similar scattered complaints in recent months. No network achieves perfect uptime given the complexity of modern telecommunications systems involving thousands of cell sites, fiber backhaul and software layers.

Customer frustration is understandable. Mobile service has become essential for everything from emergency calls to daily banking and navigation. When issues arise, even limited ones affecting hundreds can generate widespread social media buzz and anxiety, especially after high-profile outages earlier in 2026. Many users maintain backup options such as secondary SIM cards from competitors or satellite messaging features on newer phones.

Verizon has emphasized network reliability in marketing campaigns, positioning itself as the “most reliable network.” Today’s reports, however minor, risk reigniting debates about whether such claims hold up under real-world stress. Consumer advocates continue pushing for automatic compensation during disruptions and greater transparency from carriers.

For businesses and enterprise customers relying on Verizon, any downtime carries higher stakes. Dedicated support lines and service-level agreements often provide faster resolution, but consumer accounts depend on self-service tools and general updates. The company’s Fios fiber internet service appeared less impacted today, with reports focusing primarily on wireless.

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As of late morning on May 13, the situation remained fluid. Some users reported partial restoration while others continued experiencing problems. Monitoring accounts like @status_is_down play a valuable role in crowdsourcing real-time information when official channels lag. The linked forum thread on DesignTaxi showed users sharing screenshots of error messages and discussing potential fixes.

Looking ahead, Verizon is expected to continue its aggressive rollout of advanced 5G and future 6G technologies. These expansions aim to reduce future incidents while supporting exploding data demands. In the meantime, customers can stay informed through Verizon’s outage map, the My Verizon app and third-party trackers like Downdetector.

The May 13 reports serve as a reminder of how dependent modern life has become on seamless connectivity. While not rising to the scale of January’s crisis, the issues affecting hundreds highlight ongoing challenges in maintaining flawless service across a vast network. Verizon has historically resolved such matters quickly and offered goodwill gestures to impacted subscribers.

Users are advised to document any prolonged disruptions for potential credits and to explore alternative communication methods until service stabilizes. The carrier’s commitment to network investments suggests these types of events will become less frequent over time, though complete elimination remains unlikely in such a complex system.

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For now, most Verizon customers appear unaffected, with the reported problems limited to a subset of subscribers. The situation underscores the importance of diversified connectivity options and staying informed during peak usage periods. As the day progresses, further updates from Verizon or monitoring services will clarify the full scope and resolution timeline.

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10 Key Things to Know About Trump-Xi Summit in Beijing as High-Stakes Talks Begin

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Trump's team denies he wrote or signed the letter from 2003

BEIJING — President Donald Trump arrived in the Chinese capital Wednesday for a two-day summit with President Xi Jinping, the first U.S. presidential visit to China since 2017, as the world’s two largest economies navigate trade tensions, the Iran conflict and technology competition in a dramatically changed global landscape.

Here are 10 essential things to understand about the high-stakes meeting:

1. Modest expectations replace grand ambitions. Unlike Trump’s 2017 trip billed as a celebratory “state visit-plus” with lavish pageantry and headline-grabbing deal announcements, this summit is more restrained. Officials on both sides describe it as a “risk-management” exercise focused on stabilizing relations rather than resetting them. No major structural breakthroughs are anticipated on core disputes.

2. Trade tops the agenda with limited deliverables. Trump is seeking Chinese purchases of U.S. agricultural products, Boeing aircraft and energy exports to show tangible wins for American workers. Beijing is expected to announce some buys and possibly new trade and investment forums, but analysts doubt anything approaching the scale of past promises that often went unfulfilled. Tariffs remain a sticking point after recent escalations and partial rollbacks.

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3. Iran and the Strait of Hormuz loom large. With the U.S.-Israel conflict against Iran disrupting global oil flows, Trump is pressing China — Iran’s top oil buyer — to help reopen the Strait of Hormuz and support diplomatic efforts. Beijing has resisted deeper involvement but may offer symbolic gestures to maintain stability and protect its energy imports.

4. Taiwan remains highly sensitive. Discussions on arms sales and Beijing’s claims over the self-governing island are expected. China wants U.S. restraint on military support for Taiwan, while Trump’s team views it as leverage. Any movement here could have outsized implications for regional security.

5. Tech and AI feature prominently. The summit includes rare earths and critical minerals access, export controls and artificial intelligence cooperation or guardrails. Trump brought a delegation of U.S. tech executives, including Elon Musk and Tim Cook, signaling interest in business deals alongside government talks.

6. China holds a stronger hand than in 2017. Beijing’s economy is less dependent on the U.S. market, with diversified trade partners and advances in self-reliance. Xi enters talks with greater confidence despite domestic challenges, while Trump faces domestic pressure from inflation and the Iran conflict.

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7. Security is unprecedented. Beijing has locked down parts of the capital, closed tourist sites and tightened airspace. The welcome includes formal ceremonies but scaled-back pomp compared to nine years ago, reflecting cooler bilateral ties.

8. Business leaders join the trip. The presence of high-profile CEOs underscores the economic focus. Announcements involving Tesla, Apple, Boeing and others could emerge, blending government diplomacy with commercial opportunities.

9. Domestic politics shape both sides. Trump needs visible wins ahead of midterm elections. Xi seeks stability to focus on China’s economic recovery. The summit offers optics of engagement even if substance is limited.

10. Long-term impact may be incremental. Analysts describe the gathering as a checkpoint rather than a turning point. Progress on fentanyl precursors, detainee releases or rare earths extensions is possible, but deep structural issues like industrial subsidies and technology competition will persist beyond these two days.

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Trump touched down Wednesday evening local time and was greeted with a formal welcome ceremony. Formal meetings with Xi are scheduled for Thursday and Friday at the Great Hall of the People. The visit was delayed from earlier in the year due to the Iran conflict.

The summit occurs against a backdrop of cautious optimism mixed with deep mutual suspicion. Both leaders have met multiple times since Trump’s return to office, including in Busan last year, establishing a working rapport built on transactional deal-making. Yet underlying strategic competition defines the relationship.

U.S. officials emphasize reciprocity and fairness. Chinese counterparts stress mutual respect and non-interference. Public readouts will likely differ, with each side highlighting its priorities. Markets are watching closely for any signals on tariffs, supply chains or investment flows.

Security around the event is tight, reflecting the stakes. Beijing has imposed restrictions on movement and heightened digital monitoring. For Trump, the trip offers a chance to project strength on the global stage while addressing domestic economic concerns. For Xi, hosting the first U.S. presidential visit in nearly a decade projects China’s centrality in world affairs.

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The two-day schedule includes bilateral meetings, possible cultural elements and business engagements. Outcomes could include memorandums on specific sectors, extensions of existing critical minerals agreements and commitments to future dialogue. However, few expect resolution of fundamental differences over technology competition, human rights or geopolitical flashpoints.

Global reactions have been mixed. Allies monitor for impacts on supply chains and security commitments. Emerging markets hope for reduced tensions that could stabilize commodity prices. The summit’s success will be measured in incremental steps rather than sweeping agreements.

As talks unfold, all eyes remain on whether the leaders can manage competition without confrontation. The Trump-Xi relationship has defined much of global politics in recent years. This Beijing meeting, though scaled back, continues that legacy at a pivotal moment for the international order.

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Almond Board of California adds new leaders

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Almond Board of California adds new leaders

Hires to drive global growth, lead research for California almonds group.

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Tesco Loses Court of Appeal Equal Pay Job Assessment Challenge

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Tesco Loses Court of Appeal Equal Pay Job Assessment Challenge

Tesco has suffered a significant setback in the long-running equal pay battle being waged by tens of thousands of its shop floor staff, after the Court of Appeal threw out the supermarket’s challenge to the way an Employment Tribunal had been assessing the value of jobs carried out by its customer assistants.

In a judgment handed down on 12 May 2026, the Court of Appeal dismissed Britain’s biggest grocer’s appeal against the Tribunal’s approach to determining the job facts of customer assistants and warehouse operatives, a critical step in the so-called “equal value” process that underpins the entire dispute.

The ruling comes mid-way through a separate Employment Tribunal hearing in which Tesco is attempting to justify paying its predominantly female store workforce less than its largely male distribution centre staff. The supermarket has leant heavily on the argument that the differential reflects “market rates”, a defence lawyers at Leigh Day, who act for more than 16,000 claimants, insist cannot lawfully stand.

At the heart of the appeal was Tesco’s attempt to stop the Tribunal from relying on the company’s own training manuals and operational documents to establish what customer assistants and warehouse operatives are required to do day-to-day. For Britain’s SME employers and retail bosses watching closely, the Court of Appeal’s response will make uncomfortable reading.

The judges upheld the Tribunal’s approach, accepting that Tesco operates in a highly regulated environment, deploys sophisticated digital stock systems and maintains exhaustive training materials precisely to ensure work is carried out consistently across every one of its stores. The Court found Tesco had a “strong business need” for these roles to be performed in the same way throughout its operations, and that, absent clear evidence to the contrary, its own training documents could properly be treated as determinative of what staff were required to do.

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The implications stretch well beyond Welwyn Garden City. The judgment effectively rejects attempts to force thousands of workers in mass equal pay claims to individually prove every nut and bolt of their roles when the employer has itself standardised the work. For any business with a structured operating model, supermarkets, hospitality chains, logistics operators and the wider SME retail community, the precedent is plain: your own training materials and operating manuals may be used as evidence against you.

The Court of Appeal also repeated earlier criticisms of Tesco’s evidential approach, raising concerns about both the nature and presentation of witness testimony deployed during the litigation. In a further blow to large employers, the judgment offered fresh guidance that tribunals in mass equal pay claims may, where appropriate, assess jobs more generically rather than insisting every single claim be picked apart on an overly individualised basis, a clarification that could substantially reduce the runway of delay and procedural complexity that often accompanies these disputes.

Kiran Daurka, employment partner at Leigh Day, said the ruling was a significant moment for access to justice. “The Court of Appeal has recognised the importance of removing unnecessary hurdles that prevent everyday people from accessing justice in complex equal pay litigation,” she said. “This judgment is a welcome clarification that, in large-scale cases involving sophisticated respondents like Tesco and other large retailers, tribunals can take a practical and proportionate approach to assessing jobs, which then mitigates against unnecessary complexity to delay or obstruct claims.

“Our clients have always maintained that these cases should focus on the reality of the work being done, not on creating artificial barriers that make equal pay claims impossible to pursue. This ruling will help future claims progress in a more streamlined and accessible way.”

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For Tesco, and for every employer with a workforce split between front-of-house and back-of-house operations, the message from the Court of Appeal is unambiguous. The defence of “that’s just what the market pays” is wearing thin, and the documents sitting on a company’s own intranet may yet prove to be the most powerful evidence claimants ever need.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Social Security 2027 COLA predicted to rise to 3.9% amid inflation

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Social Security 2027 COLA predicted to rise to 3.9% amid inflation

Social Security beneficiaries are expected to see a larger cost-of-living adjustment (COLA) next year amid rising inflation, according to new reports.

An analysis by The Senior Citizens League (TSCL) predicts that the 2027 COLA will be 3.9%, which would represent an increase of 1.1 percentage points from this year’s 2.8% COLA. TSCL’s previous prediction for the 2027 COLA was 2.8% in its February and March estimates. 

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TSCL estimates that the average Social Security benefits check for retired workers would rise by $81.17, up from $2,081.16 to $2,162.33.

“Many seniors are telling us the same thing: As inflation picks back up, life still does not feel affordable. The average senior already lives on much less than younger Americans, according to the Census Bureau, and our supporters constantly tell us they feel like they’re falling farther and farther behind,” said TSCL Executive Director Shannon Benton.

LARRY FINK CALLS FOR SOCIAL SECURITY REFORM, SAYS INVESTING A PORTION OF FUNDS COULD STRENGTHEN THE PROGRAM

A shopper looks at coupons

An analysis by The Senior Citizens League (TSCL) predicts that the 2027 COLA will be 3.9%. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

The report noted that pressure from elevated oil prices could push inflation even higher, as energy prices impact household budgets directly and through higher transportation costs for other goods.

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The nonpartisan Committee for a Responsible Federal Budget (CRFB) estimated that the 2027 COLA will be 3.8% based on the latest inflation data – slightly lower than the TSCL’s estimate.

CRFB notes that depending on inflation data over the next five months, the COLA will likely end up somewhere in a range between 3% and 4.5%. 

SOCIAL SECURITY’S MAIN TRUST FUND FACES DEPLETION IN 2032, TRIGGERING AUTOMATIC BENEFIT CUTS

The U.S. Capitol's reflection after a rain storm.

Social Security’s main trust fund is projected to become insolvent in 2032. (Demetrius Freeman/The Washington Post via Getty Images)

It also cautioned that if wages don’t rise in response to the ongoing rise in inflation, it will widen Social Security’s budget deficit and accelerate the insolvency of a key trust fund.

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“If the recent spike in inflation boosts the COLA to 3.8% without increasing wages, we estimate it would worsen Social Security’s shortfall by roughly $300 billion over the next decade and advance the insolvency of the old age trust fund by three months from late 2032 to earlier in the year,” CRFB noted.

NEW PROPOSAL WOULD CAP SOCIAL SECURITY BENEFITS AT $100K FOR WEALTHY COUPLES

Social Security Administration

The SSA will be required to cut Social Security benefits if the program’s trust fund is depleted. (Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images)

Once the trust fund is depleted, the Social Security Administration will be required by law to cut benefits to match incoming payroll tax revenues, which CRFB estimates will result in a 25% cut for beneficiaries and would “erase almost a decade’s worth of COLA increases.”

CRFB has offered a number of proposals aimed at improving Social Security’s solvency, including a cap on COLAs for those with the largest benefits and highest lifetime incomes that would be capped to match the benefits paid to middle and high earners.

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The group has also proposed a six-figure limit, which would cap total benefits for wealthy couples at $100,000 or individuals at $50,000; as well as an employer compensation tax that would apply a flat tax rate to all employer compensation costs – including wages and fringe benefits like health insurance and stock options.

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