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Steven Bartlett OBSN venture launches with Authentic

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Steven Bartlett OBSN venture launches with Authentic

Steven Bartlett’s holding company Steven.com and Authentic Brands Group have launched OBSN, a joint venture that will invest in and build businesses around creators, with Bartlett saying he aims to deploy up to $400m in creator businesses over the coming years.

The venture, whose name is short for Obsession, was announced in New York yesterday. It was due to debut the same day at a creator-focused event in the city, where Maggie Sellers Reum, investor and founder of Hot Smart Rich, was to moderate a fireside conversation with Bartlett and Jamie Salter, founder and executive chairman of Authentic.

According to the two companies, OBSN is “designed for the world’s most ambitious and consequential creators”. At its centre is a platform providing news, analysis and live experiences for the creator economy, which the partners say is designed to become the sector’s “definitive voice and home”.

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How the partnership will work

Under the arrangement, Steven.com will lead OBSN’s media, technology, data and audience-growth operations. Authentic will contribute its expertise in brand building, product, licensing, strategic partnerships and global distribution.

The partners said every deal struck through OBSN would be tailored to the individual creator, whether that involves expanding a media business, developing products, growing licensing programmes, pursuing strategic partnerships or exploring investment and international expansion. They said the venture would provide creators with infrastructure, expertise and long-term partnership as well as capital.

The companies said they see opportunities to deploy hundreds of millions of dollars in the near term into creator-led businesses that meet their criteria.

“The next generation of global media companies and consumer brands will be built around creators. But a global audience of millions is not yet a company, and it certainly should not be the ceiling of a creator’s potential,” said Bartlett.

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“Steven.com understands how to build media and audiences around creators, and Authentic understands how to build and extend brands around the world. OBSN brings those capabilities together so ambitious creators can reach the full scale of their ambition. We are aiming to deploy up to $400m in creator businesses over the coming years, OBSN is at the heart of that strategy.”

Matt Maddox, president and chief executive of Authentic, said: “Creators are redefining media and shaping the future of entertainment, with many poised to become multigenerational brands in their own right.”

He added: “By combining our complementary capabilities, we will identify, invest in and scale creator-led IP, capitalizing on a once-in-a-generation opportunity to strategically deploy hundreds of millions of dollars across the creator economy and build the brands of tomorrow.”

The companies behind OBSN

Steven.com is the holding company for Bartlett’s businesses, including The Diary Of A CEO podcast, marketing agency FlightStory, production business FlightCast and investment arm FlightFund. In October 2025 it was valued at $425m following investment from Slow Ventures and Apeiron Investment, with Bartlett retaining more than 90 per cent ownership. In December 2025, Bartlett also announced plans for Founded, a tech news website covering UK and US start-ups.

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Authentic owns more than 50 brands, including Reebok, Champion, Ted Baker, Brooks Brothers, Hunter and Sports Illustrated, as well as rights linked to David Beckham, Shaquille O’Neal, Elvis Presley and Muhammad Ali. The company says it works with a network of more than 1,700 licensees and partners in more than 150 countries, and that its brands generate more than $38bn in annual systemwide retail sales. Its portfolio reaches nearly one billion social media followers, according to the company.

The move comes as advertising money shifts towards creators. Business Matters reported last year that creator platforms were forecast to overtake traditional media in global ad revenue for the first time.

OBSN said its creator economy media and events arm is already live, with more than one million followers on Instagram. The partners plan to expand it into new content formats, channels and live experiences, including festivals and official awards. Creators can register interest through the Obsession.com website.

Jamie Young
About the author
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Jamie Young

Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the ‘covid era’ and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine’s coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk

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OpenAI Contractors Are Reading ChatGPT Users’ Private Prompts, New Report Finds

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OpenAI

OpenAI has hired hundreds of contractors to read a continuous stream of real ChatGPT users’ conversations as part of an internal effort to improve the chatbot’s responses, according to an investigation published by 404 Media, raising fresh privacy questions for a service used by more than 900 million people worldwide.

The report, based on leaked internal documents, training materials and real prompts reviewed by 404 Media, details an OpenAI initiative internally codenamed Project Lily. Under the program, contractors known as “prompt reviewers” read anonymized excerpts of real user conversations with ChatGPT, write a summary of what the user was attempting to accomplish, and then critique and rate multiple versions of the chatbot’s generated responses on a scale of one to seven.

According to the internal materials reviewed by 404 Media, the reviewers are working to steer ChatGPT toward specific behavioral targets, including training the chatbot to be less sycophantic, to use fewer emojis, to avoid excessive “AI-speak,” and to adopt more restrained, professional language. The report notes that OpenAI’s earlier GPT-4o model faced criticism for being overly sycophantic, a trait that multiple lawsuits have alleged contributed to several people’s suicides, underscoring why OpenAI has prioritized correcting that behavior in later training efforts.

Each conversation presented to reviewers is accompanied by what the documents describe as a “user memories summary,” an overview of the user’s past interactions with ChatGPT that can include personal context and, in some cases, location information, according to the report. OpenAI told 404 Media that conversations are first processed through what the company calls a Privacy Filter, a system designed to strip identifying details such as names, addresses, emails and phone numbers before prompts reach human reviewers. Even so, OpenAI itself acknowledged to 404 Media that the filter can miss what the company described as “uncommon identifying information or content with personal significance in context,” particularly in shorter conversations, meaning sensitive personal details can still reach the contractors reviewing the chats.

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The privacy stakes are heightened by how many users engage with ChatGPT, according to the report, which notes that people frequently treat the chatbot as a therapist, a professional assistant or a digital confidant, sharing intimate personal details they may not realize could be read by another human being. The report also found that in a number of conversations reviewed, users explicitly asked ChatGPT to keep the contents of their exchange confidential, apparently unaware that a human contractor could ultimately review the same conversation as part of the model-improvement process.

Contractors working on Project Lily do not see ChatGPT usernames, according to the report, and OpenAI has said it works to strip personal information before prompts reach reviewers. Even so, when 404 Media asked OpenAI directly whether the company had ever explicitly disclosed to users that human contractors might review their prompts, OpenAI did not answer the question directly. According to the report, OpenAI’s public-facing website discusses human review primarily in the context of content that violates its terms of service or raises safety concerns, rather than as a routine part of ordinary model improvement. Following the story’s publication, OpenAI pointed 404 Media to a separate page on its site stating that humans may review content to “improve model performance.”

The setting governing whether a user’s conversations become eligible for this kind of review is turned on by default for OpenAI’s Free, Plus and Pro consumer subscription tiers, according to the report, while it remains off by default for Enterprise, Business and Education accounts. Users on eligible plans can disable the setting, described in OpenAI’s interface as allowing chat history to be used for model improvement, through the Data Controls section of their account settings. However, the report notes that opting out does not apply retroactively, meaning conversations a user had before changing the setting remain eligible for contractor review regardless of when the opt-out is applied.

The workers who review these prompts are recruited in part through a firm called Crossing Hurdles, with payment processed through Mercor, an AI-training company, according to the report. One contractor told 404 Media the work pays more than $50 an hour. The same contractor described the job itself as largely repetitive, saying that while reading the prompts can be amusing at times, the review guidelines shift frequently and have at times contradicted one another. Separately, Meta ended its working relationship with Mercor in April following a data breach involving the company, according to the report, though that incident was not connected to OpenAI’s use of the firm for Project Lily.

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The investigation also found that OpenAI is not alone in relying on human review to refine its AI models. Anthropic confirmed to 404 Media that it likewise uses human review to improve the responses generated by its Claude chatbot, though the company said that practice applies specifically to users who have opted in through a dedicated setting labeled “Help improve our AI models,” a structurally different approach from OpenAI’s default-on setting for consumer ChatGPT accounts. Google has also disclosed that it operates a similar human review process for its own AI products, according to the report, doing so more directly and explicitly than OpenAI has to date.

The report’s authors noted that the human review process uncovered through Project Lily helps explain an aspect of AI development that receives comparatively little public attention: that large language models like ChatGPT do not improve solely through automated processes such as scraping internet data or algorithmic refinement, but also depend substantially on the ongoing, manual work of human contractors reading and evaluating real user conversations at scale, a process that inherently exposes at least some subset of sensitive user data to human eyes despite companies’ efforts to anonymize it beforehand.

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J.D. Power report shows travelers are happier with U.S. airports

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J.D. Power report shows travelers are happier with U.S. airports

Travelers navigate security lines at Minneapolis-St. Paul International Airport Terminal 1 in Minneapolis, Minnesota, March 23, 2026.

Stephen Maturen | Getty Images

Despite a near record number of people flying in the U.S., it appears travelers are happier with the airports they find themselves moving through.

J.D. Power’s annual North America Airport Satisfaction Study, released Wednesday, reported that overall airport satisfaction increased significantly this year. Travelers gave higher ratings in part because of the newer gates and terminals many airports have opened in recent years, according to the study.

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“Overall, travelers are happier with what they are seeing in most airports,” said Mike Taylor, managing director of travel, hospitality and retail at J.D. Power.

From New York’s John F. Kennedy Airport to Kansas City International to Pittsburgh International, airports large and small have opened or are building new facilities to accommodate more travelers. Often, the new terminals and gates are larger, with more light and upgraded amenities, and cost billions to build.

“You have to spend at least a billion to impress people,” Taylor said.

This is the third straight year the J.D. Power study has found an increase in airport satisfaction. The latest report is based on responses from more than 24,000 travelers.

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Among the largest airports, which handle more than 33 million passengers annually, Minneapolis-Saint Paul International received the top score. For airports that serve between 10 million and 32.9 million flyers annually, Tampa International was ranked No. 1, while Charleston International in South Carolina was rated the best among medium airports, which see 4.5 million to 9.9 million passengers a year.

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Gathering Alpha Where Nobody Watches With SPE’s Preferred Stock (NYSE:SPE)

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tropical beach with coconut palm and a colorful hammock

This article was written by

Arbitrage Trader, aka Denislav Iliev has been day trading for 15+ years and leads a team of 40 analysts. They identify mispriced investments in fixed-income and closed-end funds based on simple-to-understand financial logic.
Denislav leads the investing group Trade With Beta, features of the service include: frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of 1200+ equities, IPO previews, hedging strategies, an actively managed portfolio, and chat for discussion. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SPE.PR.C either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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WH Smith issues second profit warning as discounting and inflation squeeze margins

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WH Smith issues second profit warning as discounting and inflation squeeze margins

The convenience retailer has lowered its expectations amid ‘inflation headwinds’

A WH Smith store

A WH Smith store

WH Smith has trimmed its profit forecast for the second time, cautioning that aggressive discounting and “inflation headwinds” are weighing heavily on its finances.

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The Swindon-headquartered convenience retailer had initially guided investors towards pre-tax profits of up to £105m for the year, before cutting that target to between £75m and £90m. On Wednesday, the group lowered its expectations further, to no more than £75m.

“This reflects lower trading profit margins driven by increased promotional activity, a reduction in brand marketing and inflation headwinds, offset by central cost reductions and lower interest costs,” the firm said.

WH Smith has struggled to build momentum in the wake of selling its 480 high street outlets to private equity firm Modella Capital.

The group has been left heavily dependent on its train station and airport stores, which it has flagged as particularly exposed to the downturn in tourism brought about by the Iran war, as reported by City AM.

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The retailer’s anticipated £75m profit would represent a steep decline from last year’s £108m figure. Just months ago, the group raised £103m through an equity issue intended to strengthen its balance sheet and underpin its investment strategy.

WH Smith reported a modest uptick in sales during its fourth quarter, with summer trading nudging revenue growth from one to two per cent across the business.

In the UK, like-for-like revenue growth accelerated from two to four per cent in the fourth quarter, with the group’s hospital stores leading the charge, posting a like-for-like revenue increase of eight per cent.

WH Smith revealed it has refurbished its outlets at Heathrow, Liverpool, Belfast International and East Midlands airports in an effort to increase average basket sizes at these busy retail locations.

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The group’s performance across North America has weighed on its overall growth in recent years. Like-for-like revenue in the region fell by three per cent in the fourth quarter.

The retailer’s like-for-like revenue at its North American airport stores declined by two per cent, hampered by reduced passenger numbers and “softer consumer demand”.

In June, WH Smith’s share price tumbled 16 per cent in a single day after the company cautioned that the downturn in consumer confidence and airport footfall caused by the Iran war was taking a toll on its sales.

The firm announced on Wednesday that it is making “good progress” towards its recovery plan. The group informed investors it is working to reduce costs, strengthen its cash management and drive sales in its more lucrative “travel essentials” range.

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Analysts at RBC Capital Markets noted that WH Smith has delivered better-than-anticipated UK results, but is underperforming expectations in the North American market.

“We think WH Smith needs to rebuild credibility with the market, with scope for the rating to recover over time if WH Smith can reassure the market that its recent missteps won’t be repeated,” they said.

Shares in WH Smith opened largely unchanged in early trading, at 359p.

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New tidal lagoon plans revealed for the Severn Estuary

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The Cardiff Capital Region is providing funding to assess the viability of what is planned as the first in series of lagoons

Plans for the first in a new generation of tidal lagoons in the Severn Estuary have been revealed by the Cardiff Capital Region.

The region, a statutory body made up of the ten local authorities of south-east Wales, will commit up to £6.4m over the next three years to undertake an extensive exploratory study, with a preferred location off the coast of Aberthaw in the Vale of Glamorgan.

The initial work will include environmental considerations, engineering design, modelling and commercial assessments.

Initial estimates suggest that the project could provide around 600 megawatts of predictable renewable electricity, which would be enough for around half a million homes.

It is being seen as the first in a series of lagoons in the estuary which could generate enough electricity to meet the needs of four million homes.

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A lagoon at Aberthaw could generate around £3.5bn in economic value, supporting thousands of jobs and creating significant opportunities for businesses in its supply chain.

A first proof-of-concept tidal lagoon in the Severn Estuary, utilising one of the world’s highest tidal ranges, was recommended by an independent panel commissioned by the now-defunct cross-border Western Gateway Partnership.

Previous plans for lagoons in the Severn Estuary failed to materialise when the first proposed project, the Swansea Bay Tidal Lagoon scheme, failed to get subsidy backing from the then Conservative UK Government in 2018.

A more ambitious Severn barrage, which would generate more than 5% of the UK’s electricity needs, is not being proposed by the city region and was ruled out by the commission when it published its report last year.

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Taking any lagoon project through the planning process would have a price tag of tens of millions of pounds, with a construction cost well north of £1bn. This would be beyond the reach of the city region. To be realised, it will require significant investment, potentially from other public and private sources, with a business model showing a return on investment over the long term.

If the project proceeds to the next phase, the UK Government’s £28bn National Wealth Fund could be a potential investor alongside institutional pension funds. The regulated asset base model could also be deployed, with upfront construction costs being partly funded through a contribution made via consumer energy bills.

The city region recently entered into a new partnership that has given it access to the National Wealth Fund’s investment knowledge, expertise and capital, to help develop and grow project pipelines, attract public and private finance, and deliver key infrastructure to support growth and create high-value jobs.

If progressed, initial estimates suggest the lagoon could provide around 600 megawatts of predictable renewable electricity – enough for around half a million homes – and operate for more than 120 years.

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Chair of the Cardiff Capital Region and leader of Monmouthshire Council, Ann Brocklesby, said: “This represents a potentially game-changing moment for renewable energy generation in the UK. The Severn Estuary has one of the highest tidal ranges in the world, with the potential to generate predictable, homegrown renewable energy that complements existing wind and solar power.

“In a time when energy security has become increasingly essential, the ability to access reliable and cost-effective renewable energy to power a significant number of homes, while placing Wales at the forefront of innovation in such an important sector, makes this a generational opportunity. I am proud that the Cardiff Capital Region, along with our partners, is taking this exciting project forward.”

The next phase will use environmental and engineering co-design to determine the scale and configuration for a project, ensuring environmental, marine and ecological evidence helps shape its future development while maintaining commercial viability.

Cabinet Minister for Enterprise, Connectivity and Energy, Adam Price, said: “Our vision is for Wales to become a world leader in marine renewables. With the second-largest tidal range in the world, the Severn Estuary presents immense potential to deliver significant renewable energy generation and economic benefits for Wales.

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“We will continue to work closely with partners to ensure we maximise the opportunities offered by this unique project as it progresses.

“This project will help us understand how tidal technology can contribute to the transition to clean power, tackle climate change and create good clean jobs in the future.”

Secretary of State for Wales, Stephen Kinnock, said:“Wales has a great track record of innovation and partnership, and Cardiff Capital Region is continuing to harness those strengths with projects that support economic growth, investment and clean energy. I look forward to following the development with great interest.”

The Cardiff Capital Region already owns a 500-acre site at Aberthaw, having acquired the former Aberthaw Power Station from energy giant RWE. It is planning to develop a green energy park at the site, which could also be utilised to support the building of any lagoon.

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It is financing the early-stage lagoon work from its £1.2bn City Deal. The city region has adopted an evergreen strategy for most of its funding, with capital and interest payments to proejcts used to make further investments. Its financing contribution could see it taking an equity stake in the lagoon.

The commission set up by the Western Gateway Partnership, which recommended tidal energy in the Severn Estuary, was chaired by Dr Andrew Garrad.

He said: “The Severn Estuary has immense energy potential and the Commission concluded that there is a compelling case to use that potential. Equally, it must be done in the right way – with the unique and internationally important environment of the Estuary remaining at the heart of how the project is designed and developed.

“I am delighted to see Cardiff Capital Region taking forward the Commission’s recommendation for a commercial demonstration project. This investment is an important next step in building the evidence, working closely with environmental organisations, and demonstrating how tidal range can deliver large-scale, clean, economic energy while respecting the Severn’s exceptional natural environment.”

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Helen Godwin, Mayor of the West of England Combined Authority (WECA), said: “The Severn Estuary is an extraordinary natural asset and now is the time to let our tides power new jobs and growth in both England and Wales. Building on the Commission’s recommendations, we have worked closely with Cardiff Capital Region to identify a key Welsh location as the right project to lead with, while ensuring the unique environment of our coast remains at the heart of plans.

“Today’s investment from our Welsh neighbours is exciting news for everyone and underlines again how the immense potential of tidal energy can unlock billions for our economy, create new jobs, skills opportunities, and supply chains across the West of England, Wales, and the UK. We will continue working with our partners to help realise this major national clean energy opportunity, here in the natural home of new green jobs.”

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Mining rebound helps Australian shares creep higher

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Mining rebound helps Australian shares creep higher

Australian shares have overcome a shaky start to finish the session higher, led by a recovery in miners after an afternoon upswing in metals prices.

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Double boost for UK automotive sector after announcements from Nissan and McLaren

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Jobs will be created and safeguarded after news of significant investment from the two carmakers

Nissan is talking to Chery about making its cars at the Sunderland plant.

Nissan’s Sunderland plant.(Image: Nissan)

A double boost for the UK economy has arrived courtesy of two major announcements from the automotive industry.

Nissan has confirmed this morning that it will manufacture a new model at its Sunderland plant, with the decision to produce the Nissan Kicks on Wearside representing a £170m investment into the facility.

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The news comes after a prolonged period of considerable uncertainty at the plant, which has seen job cuts and the closure of one of its production lines. Nissan has shuttered several factories across the globe as part of its cost-cutting drive following a difficult period, yet the North East facility is regarded as one of its strongest performers.

The Kicks will become the 10th model to roll off the production line at Nissan’s Sunderland plant, which is celebrating its 40th anniversary this year. The factory has now produced in excess of 12m vehicles since the first Nissan Bluebird was built there in 1986.

Adam Pennick, vice president of manufacturing at Nissan’s Sunderland plant, said: “I’m proud to welcome this new model allocation for Sunderland. It’s the perfect way to celebrate our 40th year as a world-class manufacturing site. We look forward to seeing Kicks e-POWER hybrid going down the production line with our electrified line up of Qashqai, Juke and LEAF.”

The announcement has been warmly received by Business Secretary Jonathan Reynolds, who was born and raised in Sunderland. He said: “The decision to build this new model in Sunderland is a huge vote of confidence in the UK’s manufacturing expertise and automotive future. I’m excited in what our partnership with industry can achieve so this Government delivers good growth, investment and skilled jobs in every postcode.”

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Meanwhile, luxury carmaker McLaren has unveiled plans to pour £500m into the UK and generate 1,000 new roles. The company intends to expand its research and development facility in South Yorkshire, as well as opening a new factory in the UK as part of the investment. It estimates that around 1,000 positions could be created across South Yorkshire and Surrey by 2032.

Nick Collins, chief executive officer of McLaren Group Holdings and McLaren Automotive said: “This investment gives us the platform to grow, develop and build on what makes us distinctive, while investing in the people, technologies and products that will keep us competitive for decades to come.”

Prime Minister Andy Burnham gave the announcement a warm reception, saying: “Their investment will create high-quality apprenticeships, jobs and drive growth far beyond their factory gates. It is how you get skilled work, decent wages and pride back into a place. It’s this kind of partnership between Government and business that will help us reindustrialise communities and make every part of Britain better off.”

The Government is eager to present the investment as a triumph for Britain, which is navigating a precarious economic landscape, partly as a result of the global instability stemming from the ongoing conflicts in the Middle East and Ukraine.

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Jeff Bezos Remains Florida’s Richest Person Yet Again as His Net Worth Jumps to $378 Billion, Forbes Says

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Amazon is helmed by the richest person in the world, Jeff Bezos

MIAMI — Amazon founder Jeff Bezos remains Florida’s wealthiest resident, according to Forbes’ newly updated ranking of the 400 richest people in America, with his fortune climbing to $378 billion this year even as he continues to sit behind Tesla and SpaceX chief executive Elon Musk atop the overall national list.

Forbes placed Bezos at No. 2 nationally on its annual list, unveiled this week, while Musk held the top spot for the fifth consecutive year. Bezos briefly reclaimed the title of the world’s wealthiest person on Monday, according to real-time wealth tracking, even as Forbes’ own annual snapshot, based on stock prices and exchange rates as of early September, kept him in second place behind Musk on the formal published ranking. Musk’s net worth on this year’s list reached $908 billion, the highest figure ever recorded in the Forbes 400’s history, giving him a lead over Bezos of more than $500 billion.

Bezos’ net worth has grown substantially over the past year. Last year, Forbes valued his fortune at $241 billion; this year’s updated figure of $378 billion represents an increase of well over $100 billion, reflecting continued strength in Amazon’s stock alongside gains tied to his other business interests.

Nearly three years have now passed since Bezos first announced plans to leave Seattle, the city long associated with Amazon’s headquarters, in favor of a new home in Florida. He announced the move in November 2023 on Instagram, saying at the time that he wanted to live closer to his parents, who had relocated back to Florida. Bezos has continued to maintain ties to the state’s business and civic landscape since making the move, including through his space exploration venture Blue Origin, which operates out of Cape Canaveral on Florida’s Space Coast.

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Bezos was not the only notable Florida billionaire to appear prominently on this year’s Forbes list. Jacksonville Jaguars owner Shad Khan ranked as Florida’s No. 8 wealthiest resident, with a net worth of $16.5 billion, placing him at No. 70 on the overall national ranking of America’s richest individuals.

President Donald Trump also appeared among the billionaires included on this year’s Forbes 400, with a net worth of $7 billion, placing him among a group of 48 individuals on the list who share that same valuation, according to Forbes’ rankings.

This year’s Forbes 400 list overall reflected record levels of wealth concentration among America’s richest individuals. The 400 people included on the list are collectively worth $8 trillion, an increase of $1.4 trillion from the prior year’s total, according to Forbes. The minimum net worth required to qualify for inclusion also reached a new high this year, climbing to $4.4 billion, up $600 million from the previous year’s cutoff.

Forbes has compiled and published the list annually since it was first launched by Malcolm Forbes in 1982, using it as what the publication describes as the definitive ranking of the wealthiest individuals in the United States. This year marked the list’s 45th annual edition.

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Bezos’ continued position as Florida’s richest resident underscores how significantly his relocation has reshaped the state’s own internal wealth rankings since his 2023 move. Florida has increasingly become a preferred destination for high-net-worth individuals relocating from other states in recent years, drawn in part by the state’s lack of a personal income tax, and Bezos’ continued residency in the state, combined with his rising net worth, has kept him firmly established at the top of Florida’s own list of resident billionaires for a second consecutive year.

Beyond his position on the Forbes list, Bezos has continued to expand his business interests since relocating to Florida. Blue Origin has remained active in the commercial space sector, competing alongside Musk’s SpaceX and other private space companies for both government and commercial launch contracts. Amazon, the company Bezos founded in 1994 and led as chief executive until stepping down from that role in 2021, has also continued to post strong financial results, a factor that has directly supported the growth in Bezos’ overall net worth reflected in this year’s Forbes ranking, given that a substantial portion of his fortune remains tied to his continued ownership stake in the company.

The gap between Bezos and Musk atop the national rankings has widened considerably over the past year, even as Bezos’ own fortune has grown substantially in absolute terms. That dynamic reflects the outsized scale of gains Musk has recorded across his various business ventures, including Tesla, SpaceX and his newer AI venture xAI, over the same period, a pace of wealth accumulation that has left even the world’s second-richest individual trailing by an increasingly large margin.

With Forbes’ list now published for the year, attention is likely to turn toward how the fortunes of both Bezos and Musk, along with the rest of the country’s wealthiest individuals, continue to evolve over the coming months, particularly given the substantial role that publicly traded stock holdings play in determining the rankings from one year to the next, leaving even the list’s most dominant figures subject to significant swings in net worth tied to broader market conditions.

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Warsh’s Fed expected to hike rates 25bp as dot plot takes center stage

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Barclays cuts Cellectis stock rating on gene editing concerns

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