Masterplan aims to create a digital and technology campus

An ambitious digital-led technology and data campus project expected to bring thousands of jobs to Blackpool has taken another huge step forward.

Plans for a 34,000 sq ft “technology exemplar building” based at Blackpool Airport Enterprise Zone will be able to press ahead after being approved by planers at Fylde Council.

The new amenity will be part of the Silicon Sands masterplan, which aims to create a digital and technology campus for internet reliant businesses, tapping into Blackpool’s position near the Celtix-Connect2 cable which provides a third of the world’s internet across the UK, USA and northern Europe at ultra-fast speeds.

Blackpool Council, which is driving the project, is working with Lancaster University on the three-storey data centre, research and development, and office exmpler complex.

The project will use state-of-the art technology to employ sustainable cooling methods which will save energy, unlike other “resource-hungry” data centres.

It is expected that the exemplar building will be the first of several data centres based at the Silicon Sands site, which is owned by Blackpool Council but falls under the auspices of Fylde Council.

The examplar building, which will have a capacity of 6MW; there is already provision for two larger data centres 10MW and 30MW on the site.

The data centres will make the area more attractive for businesses which require access to high speed and low latency data, such as advanced manufacturing, gaming, telehealth and medical technology industries, which will lead to mass job creation.

Councillor Mark Smith, Blackpool Council’s Cabinet Member for Economy and Built Environment, added: “This is a major step forward for our plans at Silicon Sands and a significant financial commitment from SP Electricity North West.

“Silicon Sands is a key part of Blackpool Council’s plan to make Blackpool better for the people who live here. The masterplan will take years to build, but the result could be thousands of highly paid jobs in growing industries for the people of Blackpool and the whole Fylde coast.

The planning green light follows confirmation of a major multimillion-pound investment programme which will transform the electricity network in Blackpool is well underway.

SP Electricity North West will soon start the construction of a new 33,000-volt substation, part of a wider £7.5m investment in the town.

The new substation will be located on land close to Blackpool Airport and will help power future development within the Silicon Sands masterplan at Blackpool Enterprise Zone.

Engineers have already laid 5.6km of underground duct which required the use of specialist equipment to protect heritage tramways.

The significant engineering project will enhance capacity across Blackpool while also ensuring the power network will be able to support the town’s long-term plans for economic growth and job creation.

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

NEW YORK — Alphabet Inc. shares fell sharply in morning trading Wednesday, dropping 7.08 points or 1.80% to $386.03 as investors grew cautious over intensifying competition in artificial intelligence, moderating digital ad growth and broader rotation out of big technology names.

The decline in Google’s parent company came amid a broader pullback in mega-cap tech stocks. While the move appears limited in isolation, it highlights growing sensitivity around Alphabet’s core businesses as the company navigates a rapidly evolving AI landscape and questions about the sustainability of its advertising dominance.

Alphabet has been one of the strongest performers among Big Tech in 2026, driven by explosive growth in its Google Cloud division and steady gains in search and YouTube advertising. However, recent sessions have shown increased volatility as Wall Street digests mixed signals on AI monetization timelines and potential regulatory risks.

Analysts pointed to several factors behind Wednesday’s decline. Heightened competition from OpenAI, Anthropic and xAI has raised questions about Google’s long-term leadership in search and generative AI tools. Although Google has rolled out significant AI enhancements across its products, some investors worry that the company is playing catch-up in certain areas while facing pressure on traditional revenue streams.

Digital advertising, which still accounts for the vast majority of Alphabet’s profit, showed signs of moderation in recent quarterly reports. While growth remains solid, marketers are becoming more selective with budgets amid economic uncertainty, shifting dollars toward performance-based and AI-optimized campaigns. YouTube advertising continues performing well, but overall ad market softness is creating near-term headwinds.

“Alphabet remains a powerhouse, but the bar is extremely high after years of exceptional growth,” said one technology sector analyst at Morgan Stanley. “Any hint of slowing momentum or increased competition gets punished quickly in this market environment.”

The company’s cloud business has been a bright spot, with Google Cloud posting strong double-digit growth and narrowing losses. However, the segment still faces stiff competition from Microsoft Azure and Amazon Web Services. Investors are closely watching whether recent AI infrastructure investments will translate into sustained market share gains and improved profitability.

Alphabet’s valuation remains premium compared to historical averages. At current levels, the stock trades at a forward price-to-earnings multiple that assumes continued robust growth in both advertising and cloud segments. Any disappointment in upcoming quarterly results could trigger further pressure.

Despite Wednesday’s decline, many analysts maintain bullish long-term outlooks. The average price target among Wall Street firms sits comfortably above current trading levels, with several houses citing Alphabet’s unmatched data advantage, global reach and diversified business portfolio as key reasons for optimism.

Google’s core search business continues dominating the market, even as generative AI tools like ChatGPT challenge traditional search behavior. The company has responded aggressively with AI Overviews and other enhancements designed to keep users within its ecosystem. YouTube Shorts and other short-form video initiatives are also showing strong engagement metrics.

Regulatory risks remain a persistent theme for Alphabet. Ongoing antitrust cases in the United States and Europe could result in significant remedies, including potential breakup scenarios or restrictions on how the company integrates its various products. While management has expressed confidence in its legal position, the uncertainty continues weighing on sentiment.

For long-term investors, Alphabet offers exposure to multiple high-growth areas: digital advertising, cloud computing, artificial intelligence, autonomous vehicles through Waymo, and other moonshot projects under X. The company’s strong balance sheet and consistent free cash flow generation provide significant flexibility for share repurchases, acquisitions and research and development.

Retail investors have shown mixed reactions to recent volatility. Some view the current dip as a buying opportunity in a fundamentally strong company, while others express concern about near-term margin pressure and competitive threats. Options activity indicates increased hedging around upcoming events, including the next earnings report expected in mid-July.

Broader market context also played a role in Wednesday’s trading. With major indices near record highs, any signs of weakness in leadership names like Alphabet can trigger rotational selling into more defensive sectors. The “Magnificent Seven” stocks, which have driven much of the market’s gains, are showing increased dispersion in performance.

Looking ahead, investors will focus on several key catalysts. Alphabet’s next quarterly results will provide fresh insight into advertising trends, cloud growth and AI investment returns. Product launches, including new AI features across Search, Gmail and Workspace, could help reaffirm the company’s competitive edge. Regulatory developments will also be monitored closely for any shifts in tone or potential resolutions.

Despite periodic pullbacks, Alphabet’s long-term trajectory remains supported by powerful secular trends in digital transformation and artificial intelligence. The company’s ability to innovate while maintaining its core revenue engines will determine whether current valuations prove justified over time.

As trading continues Wednesday, attention will turn to whether the early weakness extends or attracts bargain hunters. For now, the modest decline appears more like normal market digestion than a fundamental shift in outlook. Alphabet continues executing well across its major business lines, even as the competitive landscape evolves rapidly.

The technology sector as a whole remains in a constructive uptrend, though leadership is rotating more frequently. Companies that can demonstrate clear AI differentiation and sustainable revenue growth are likely to outperform, while those perceived as lagging may face continued pressure.

Alphabet’s diversified approach — combining mature, high-margin businesses with high-growth emerging segments — positions it favorably for the next phase of technological advancement. Wednesday’s trading serves as a reminder that even the strongest companies experience volatility, particularly when valuations are elevated and macroeconomic signals are mixed.

Investors are advised to maintain a long-term perspective while monitoring key metrics around user engagement, cloud bookings and AI product adoption. The coming weeks and months will provide important data points on Alphabet’s ability to maintain its leadership position in an increasingly competitive environment.

A Y junction was the original shape of the line as envisaged in the first plans for a line from London to Birmingham that branched to Manchester and Leeds. The purpose of the original plan was practical — capacity and speed, but also strategic. The UK is a long, thin country that excels in the service sector, and connecting these sources of growth would lever in investment and create agglomeration effects that would help rebalance Britain’s lopsided economy,

NEW YORK — GameStop Corp. shares traded modestly lower at $21.85, down 0.27%, in morning trading Tuesday as investors continued digesting the company’s aggressive but so far unsuccessful $56 billion bid for eBay and the broader implications for Ryan Cohen’s transformation strategy at the once-struggling video game retailer.

The modest decline came on relatively light volume, reflecting a pause after weeks of heightened volatility triggered by GameStop’s surprise unsolicited offer for the e-commerce giant. While the stock has remained elevated since the bid news broke, it has shown signs of consolidation as Wall Street weighs the likelihood of Cohen successfully reshaping the company’s future beyond its traditional brick-and-mortar roots.

GameStop formally proposed acquiring eBay at $125 per share in a cash-and-stock deal earlier this month. eBay’s board quickly rejected the approach as “neither credible nor attractive,” but the move has kept both stocks in the spotlight and reignited retail investor enthusiasm around the meme stock favorite. Cohen, who owns a significant economic stake in eBay through derivatives, has remained characteristically quiet since the rejection, leaving analysts and traders to speculate on his next move.

Morgan Stanley analysts outlined four potential outcomes in a recent note, ranging from a sweetened bid to a full withdrawal, a proxy fight, or even a counter-offensive by eBay. The bank’s base case assumes GameStop will eventually step back, but not without extracting some form of value or concessions from the larger company. Cohen’s history as an activist investor who successfully turned around Chewy before taking the helm at GameStop has given him credibility, even as skeptics question the logic of pursuing a much larger rival.

The drama has once again highlighted GameStop’s unusual position in the market. With nearly $9 billion in cash and liquid assets on its balance sheet, the company has transformed from a declining physical retailer into a cash-rich entity capable of bold strategic moves. Cohen has used this war chest for share buybacks and now appears willing to pursue transformative acquisitions, though the eBay bid represents his most ambitious swing yet.

Wall Street’s formal coverage remains cautious. Most analysts maintain neutral or sell ratings on GameStop, citing ongoing pressure on its core video game business from digital downloads and competition from Amazon, Walmart and Best Buy. However, the stock often trades independently of fundamentals due to its dedicated retail investor base and high short interest, which can trigger rapid squeezes on positive news flow.

Tuesday’s trading showed no major new catalysts, but options activity remained elevated with traders positioning for potential volatility around GameStop’s upcoming shareholder meeting. The virtual-only event will include votes on director elections, executive compensation and a massive performance-based stock option award for Cohen tied to ambitious market-cap and profitability targets. The proposed award has drawn both praise for alignment with shareholders and criticism over potential dilution risks.

GameStop’s core operations continue facing secular challenges. Recent quarterly results showed revenue pressure in hardware and software sales, partially offset by growth in collectibles and higher margins from cost-cutting initiatives. The company has closed numerous underperforming stores while investing in e-commerce capabilities, but turning around a legacy retail business in a digital-first world remains difficult.

The eBay pursuit represents Cohen’s clearest signal yet that he sees GameStop’s future beyond physical stores. By targeting a larger, more established e-commerce player, he is attempting to leapfrog the company into a stronger competitive position. However, the significant size difference and regulatory hurdles make any successful deal highly complex. Even a partial stake or strategic partnership could still create value for GameStop shareholders.

Retail investors remain fiercely loyal to the Cohen-led vision. Online communities that fueled the 2021 meme stock phenomenon continue active discussions about potential outcomes, with some calling for Cohen to “go all in” while others urge caution to protect the company’s strong balance sheet. The stock’s resilience near current levels despite the eBay rejection demonstrates the power of this dedicated base.

Broader market context also influences GameStop’s movement. With major indices near record highs and AI-driven optimism dominating headlines, speculative names like GME serve as a barometer for retail risk appetite. Tuesday’s modest dip occurred amid generally positive equity market sentiment, suggesting limited conviction in either direction for now.

For long-term holders, the narrative remains one of patience mixed with hope. GameStop has avoided the bankruptcy fears that once plagued it, thanks to aggressive cost management and cash accumulation. Yet executing a successful transformation via acquisition requires flawless timing and integration in a highly competitive environment.

Critics argue GameStop increasingly functions more like a special-purpose vehicle for Cohen’s ambitions than a traditional operating business. Proponents counter that its massive cash reserve and low debt uniquely position it for opportunistic moves that could reward patient shareholders handsomely if successful.

As the situation with eBay develops, investors will watch closely for any renewed overtures, shareholder meeting outcomes or updates on capital deployment. Cohen’s track record suggests he is unlikely to remain idle for long, but the exact path forward remains uncertain.

GameStop’s story continues to captivate Wall Street and retail investors alike. Whether the eBay bid ultimately succeeds, leads to a negotiated settlement, or fades into memory, it has already succeeded in keeping the company relevant and its stock in play during an otherwise quiet period for traditional retailers.

The coming weeks promise more volatility as both companies prepare for earnings and shareholders meetings. For now, GameStop trades in a holding pattern near $22, with its future direction still heavily dependent on Cohen’s next strategic move and the market’s willingness to bet on his vision once again.

The meme stock era may have evolved, but GameStop and its loyal following continue proving that in today’s market, narrative and capital structure can sometimes matter as much as traditional fundamentals.

Meta is preparing a sweeping workforce overhaul tied to its aggressive artificial intelligence push, including plans to move thousands of employees into AI-focused roles while cutting managers and laying off workers this week.

The Facebook parent plans to lay off roughly 10% of its workforce Wednesday as part of a broader restructuring tied to CEO Mark Zuckerberg’s effort to remake the company around AI tools and autonomous agents, according to an internal memo obtained by Reuters.

In the memo circulated Monday, Meta Chief People Officer Janelle Gale said the company plans to transfer roughly 7,000 employees into new AI initiatives while eliminating layers of management and flattening organizational structures.

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The Facebook parent plans to lay off roughly 10% of its workforce Wednesday as part of a broader restructuring. (David Paul Morris/Bloomberg via Getty Images)

The shake-up, along with previous transfers and role eliminations, will ultimately affect about 20% of Meta’s workforce, according to the memo.

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The company had nearly 78,000 employees as of the end of March, according to securities filings.

The overhaul comes as Meta pours billions into AI infrastructure and tools amid intensifying competition with OpenAI, Google and Microsoft. The company increasingly wants AI agents to perform tasks now handled by human employees internally, according to Reuters.

Meta had nearly 78,000 employees as of the end of March, according to securities filings. (Nikolas Kokovlis/NurPhoto via Getty Images)

“As org leaders worked on the changes, many of them incorporated AI native design principles into their new org structures,” Gale wrote in the memo. “Many orgs can operate with a flatter structure with smaller teams of pods/cohorts that can move faster and with more ownership.”

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Some of the employees being reassigned — a process workers reportedly refer to as being “drafted” — are moving into teams like Applied AI Engineering and Agent Transformation Accelerator, groups focused on building AI systems capable of autonomously performing workplace functions.

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Meta has also reportedly closed roughly 6,000 open job postings during the restructuring process – changes which have triggered growing backlash inside the company.