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‘Former vegan’ Lizzo has been losing weight without Ozempic. Her personal trainer shared her workout routine.

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'Former vegan' Lizzo has been losing weight without Ozempic. Her personal trainer shared her workout routine.
  • Lizzo said she is a “former vegan” and animal protein has helped her lose weight.

  • Her trainer shared with Business Insider the training regime that’s helping her build strength.

  • Corey Calliet said she never considered using weight loss drugs.

Lizzo shared that she is a “former vegan” who eats animal protein, as she got candid about her recent weight loss. Her personal trainer told Business Insider that she never considered using weight loss drugs.

In an Instagram post in September, Lizzo suggested she was flattered that people suspected she was taking weight loss medication.

“When you finally get Ozempic allegations after five months of weight training and calorie deficit,” she wrote in a video of herself lipsyncing to an audio saying: “It’s like a reward.”

Her personal trainer, Corey Calliet, told BI on October 3 that Lizzo was no longer vegan and aims to eat a high-protein diet in a calorie deficit. He added she has been working hard in the gym five days a week since May and has never been late or missed a session.

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On Thursday, Lizzo shared a video titled “WHAT I EAT IN A DAY as a former vegan” after Business Insider reached out for comment in response to Calliet revealing that she eats animal products.

“After tests and research, I found that animal proteins helped me have more energy, lose weight and helped with my mental fog,” Lizzo said. “This is the diet that’s helped me reach my goals and helped me feel good in my body.”

Asked whether she had thought about using a weight loss medication, such as Wegovy (also known as Ozempic), Calliet said: “She never wanted to do it, not one time. Ozempic doesn’t get this credit. She’s really working. She’s earning that body that she wants.”

Lizzo’s representatives declined to comment when contacted by BI.

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As weight loss drugs have boomed in popularity, so has speculation over which celebrities have used them.

While the stigma around weight loss interventions is decreasing, aided by high-profile celebrities such as Oprah Winfrey sharing their experiences, many people still consider the drugs “cheating,” a stance that health experts fear could prevent patients from getting the help they need.

Lizzo attends the 2024 Vanity Fair Oscar Party Hosted By Radhika Jones at Wallis Annenberg Center for the Performing Arts on March 10,

Lizzo attending the 2024 Vanity Fair Oscar Party on March 10. She has been working out five days a week since May, her trainer said. Kayla Oaddams/FilmMagic/Getty Images

Lizzo was already fit but wanted to get stronger

Although the singer has lost weight, fat loss wasn’t the primary goal, Calliet said.

“She came to me because she’s trying to get stronger, and a lot of people don’t realize the importance of strength, especially as we get older,” Calliet said. “The more muscle you build, the more fat you burn, the more longevity you have.”

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Calliet said Lizzo mostly does high-intensity circuit-style training, emphasizing strength rather than cardio because she already had a high level of cardiovascular fitness.

“Lizzo, she’s an artist and she’s an entertainer, so I know she can move,” Calliet said. “So it was more weight training than just cardiovascular training.”

Lizzo hadn’t done much strength training before working with Calliet, he said, so they focused on proper form and movements with progressive overload, where weights and reps gradually increased.

“You don’t get rewarded with less weight when you get stronger; you get rewarded with more weight,” Calliet said.

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Balancing longevity with aesthetics

Calliet said that he trains his clients — who include Michael B. Jordan and John Boyega — with health and longevity in mind, but aesthetic change comes with that.

“As the fat is burning off, the muscle is building,” Calliet said.

Calliet said his clients never do the same workout twice to keep training interesting for the mind and body. This also allows him to tailor workouts to how his clients, including Lizzo, feel.

“She may come in achy and sore, so I know I can’t do too many leg exercises. She may come in very excited, so I say, ‘OK, you know what? Let’s add,’” Calliet said. “So I never know, but I mostly break things down into three or four circuits, which consist of cardiovascular work and strength training.”

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Lizzo is dedicated to training and is motivated by her results, Calliet said.

“She loves working out a lot, and also when you start seeing results and you’re feeling good — not just the results of the scale, it’s, ‘Oh, my back don’t hurt, my knees feel good, I feel loose, I can move around.’ That’s the results. That’s the things that get you excited because you don’t feel like you did before,” Calliet said.

A chef cooks Lizzo’s meals

Calliet said Lizzo has an “amazing chef” who cooks all her meals and is learning about how much food her body needs for her activity levels.

Eating a high-protein diet helps the body maintain muscle while losing fat, keeps you feeling full, and helps muscles recover after workouts.

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Lizzo has always advocated self-love and body positivity, and to Calliet, losing fat and getting stronger is in line with that.

“It’s saying, ‘You know what? I’m going to love myself even more to make myself feel really good.’ So the way she’s doing it, the world is loving it,” Calliet said.

Read the original article on Business Insider

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Stomach-churning moment monster giant ‘wolf spider’ devours MOUSE on mum’s doorstep leaving her in ‘horrified awe’

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Stomach-churning moment monster giant ‘wolf spider’ devours MOUSE on mum’s doorstep leaving her in ‘horrified awe’

THIS is the horrifying moment a mum discovers a massive wolf spider devouring a mouse on her doorstep.

Meagen Wallace was taking her three-year-old son Jameson to pre-school when she opened the front door to the “absolutely insane” scene.

Meagen Wallace opened her front door to an absolute insane scene

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Meagen Wallace opened her front door to an absolute insane sceneCredit: Credit: Meagen Wallace/Pen News
The mum and scientist encountered a wolf spider devouring a mouse

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The mum and scientist encountered a wolf spider devouring a mouseCredit: Credit: Meagen Wallace/Pen News
Meagen Wallace helped turn the encounter in a learning experience for her son Jameson

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Meagen Wallace helped turn the encounter in a learning experience for her son JamesonCredit: Credit: Meagen Wallace/Pen News

Opening the front door, they faced one of the largest spider types in the US, with an unusual victim in its jaws.

Meagan said: “At first glance I thought it was a piece of dog poop and was irritated that a neighbour would allow that to happen and not clean it up.

“But once I got closer I realised it was moving slightly, and I immediately but calmly instructed my son to take a step back, as he was about to unknowingly step on it.

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“Once assured my son was behind me, I inspected it and realised that it was in fact a mostly-dead mouse with a massive wolf spider on top eating its head.

“There were little clumps of mouse fur all around, like there had been some sort of struggle beforehand.”

Texas arachnologist Ashley Wahlberg, known as the “Spider Lady”, said it was a wolf spider of the hogna genus – among the largest found in the US.

Ashley, who teaches at Angelina College in Lufkin, said the spider could be scavenging another animal’s kill, but had most likely killed the mouse itself.

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She said: “Wolf spiders are active predators so it is likely the spider killed the mouse itself rather than scavenging, but without seeing the interaction take place we can never really know.

“It is unusual for a spider to take down prey this large, but it’s seen often enough among the larger spiders.

“However, most reports of spiders feeding on vertebrates are with orbweavers and widows.

“Both of these have their webbing that the prey initially gets caught in, then they use their venom to finish it off.

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“Wolf spiders make webbing but they don’t hunt with webbing, therefore it would just be relying on its strength, quickness, and venom to take down prey.”

The frightful scene was, she said, “a very neat observation”.

But fear came before fascination for Meagen and her son.

She said: “My initial reaction was disbelief and horrified awe.

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“I’ve worked very hard to not be as afraid of spiders as I once was as a child, but this definitely caught me off guard.

“I knew my son was right behind me so I swallowed my first reaction and switched to curiosity, so I could show him how cool this absolutely insane event is.

“Internally I was freaking out but kept it together for my kiddo.”

An environmental scientist, Meagen said it was unlike anything she’d seen before.

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She said: “I’ve travelled all over the world doing research and field work in remote jungles and forests.

“I’ve seen a lot of crazy stuff, but never in my life have I seen this – I honestly didn’t even know wolf spiders ate things like rodents!

“I have seen them eat every insect under the sun but watching it consume this mouse that was much larger than itself was definitely one for the record books.”

After taking some pictures and video, Meagen, from Austin, Texas, let nature take its course.

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She joked: “I had no clue what to even do about it, and part of me was hoping that the spider would remember my kindness and choose not to come after me now that it’s had a taste of flesh.”

For little Jameson, it was an exciting encounter to tell his whole class about, and in the end, it was a learning experience for Meagan too.

She said: “I learned that I’m pretty good at keeping it together in the face of what at one point in my life would have been an absolute nightmare to witness.

“It showed the amount of growth I’ve experienced since becoming a scientist and a mum, and honestly it gave me some interesting insight into wolf spider behaviour.”

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A scientist, Meagen said she didn't know wolf spiders at rodents

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A scientist, Meagen said she didn’t know wolf spiders at rodentsCredit: Credit: Meagen Wallace/Pen News

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Shares in shipbroker Braemar fall after FT report on Russian ‘shadow fleet’

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London-listed shipbroker Braemar closed down 6 per cent on Thursday, the biggest one-day drop in more than a year, after the Financial Times reported its involvement in the sale of nine ageing oil tankers that have joined Russia’s “shadow fleet”.

Braemar’s shares ended the day at 278p, the lowest since May, and were down another 5 per cent to 264 on Friday.

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London has been a global centre of the maritime industry for centuries, and Braemar, founded in 1982, is one of the sector’s leading brokers, matching buyers and sellers of vessels in return for a percentage of the purchase price.

Since the first western restrictions on Russian oil exports were introduced in December 2022, Moscow has assembled a so-called shadow fleet of more than 400 such vessels that are at present moving about 4mn barrels of oil a day beyond the reach of the sanctions and generating billions of dollars a year in additional revenue for its war in Ukraine.

Most of those tankers were bought from western sellers but the use of offshore ownership structures has meant western officials have struggled to identify how the ships were acquired and who owns them now.

The FT reported on Thursday that at least 25 of the vessels in the shadow fleet had been purchased by a British accountant on behalf of Eiger Shipping DMCC, the Dubai-based shipping arm of Lukoil, Russia’s second-largest oil producer. Eiger had financed the acquisitions by paying in advance to charter the vessels, the FT reported.

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The accountant’s lawyers, and one other person familiar with the matter, told the FT that Braemar was fully aware the vessels were being acquired for, and financed by, Eiger.

Braemar confirmed it had served as the broker for at least nine of the purchases but declined to comment on its knowledge of Eiger’s involvement.

“For every transaction that Braemar considers undertaking, it conducts all appropriate due diligence with know-your-customer checks, legal, compliance and regulatory adherence,” it said in a statement. Braemar on Friday said it had no further comment.

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It is not alleged that the transactions have broken any laws. Although Lukoil has been under US sanctions since 2014, neither Eiger Shipping DMCC nor its Dubai-based owner Litasco Middle East DMCC, is a sanctions-hit entity. Dubai-based companies are also not required to comply with the west’s restrictions if they do not use G7 financing or services.

However, individuals and companies that have helped to assemble and operate the shadow fleet are increasingly in the crosshairs of western governments. At least seven of the 25 vessels originally acquired by the British accountant have since been hit with sanctions by the UK or EU, as have two companies that previously managed many of the ships.

In a call to action in July, 44 European leaders, including UK Prime Minister Sir Keir Starmer, pledged to target the shadow fleet’s “ships and facilitators” and called for the support of the maritime industry, including ship brokers.

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Shoppers blast M&S over price rise of popular meal deal after celebrity chef endorsement

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Shoppers blast M&S over price rise of popular meal deal after celebrity chef endorsement

M&S customers have blasted the retailer for hiking its popular Gastropub dine-in deal by 25%.

The revamped offer now includes creations by celebrity chef Tom Kerridge – but shoppers are still furious that the cost has risen from £12 to £15.

Celebrity chef Tom Kerridge has partnered with M&S on the deal

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Celebrity chef Tom Kerridge has partnered with M&S on the dealCredit: M&S

The deal for two – which includes a main, side and a starter or desert – is among the priciest of M&S’ dine-in offers.

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There’s also a pasta bundle for £7, an Indian meal for £15 and a slow-cooked one for £12.

But the Gastropub offer has hit shoppers radars in recent weeks after it was revamped at the end of September.

One fan complained to the retailer: “So food inflation is flattening or in some instances reversing. So you have put your dine-in meal deal price up 25%? (£12 to £15).”

Another added: “I have no doubts about the quality and having awesome chefs endorsing it adds a nice touch, but I’d prefer you kept the pricing reasonable.

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“Gastro dine in from £12 to £15 is a noticeable hike.”

A third said: “I expect prices to rise every now and again but a 25% increase in the Gastropub meal deal in a week is just a little beyond the pale.”

Others complained that the deal previously offered fish and chips together as a main dish, but now the dish is only haddock and the chips must be bought separately as a side.

One said: “Extremely disappointing to see that the Gastropub dine-in deal has not only increased a whopping 25% to £15, but the chips have also been removed from the haddock and chips box.

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“Bad deal, I didn’t bother buying.”

M&S – which has highlighted “British Beef Cheeks” and Kerridge’s Treacle Tart as top picks of the range – said the offer was intended to “bring the flavours of your favourite restaurant home”.

Analysis by The Sun has revealed that many of the dishes present in the relaunched offer were included in M&S’ old Gastropub deal, including lamb moussaka, cottage pie, chicken forestiere and lasagne.

Meanwhile triple cooked chips, greens, emperor carrots and dauphinoise potatoes remain as sides, as well as runny scotch eggs and prawn cocktail for starter options and tarte au citron and sticky toffee pudding for dessert.

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But the retailer said 95% of the dishes are new or had been improved and all now only use selected M&S Foodhall ingredients or specific ingredients from its Gastropub larder list.

Tom Kerridge has also brought in various new dishes into the deal, including a pork and bacon pâté, British beef cheeks, treacle tart and molten cookie dough.

How to save money on your food shop

Consumer reporter Sam Walker reveals how you can save hundreds of pounds a year:

Odd boxes – plenty of retailers offer slightly misshapen fruit and veg or surplus food at a discounted price.

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Lidl sells five kilos of fruit and veg for just £1.50 through its Waste Not scheme while Aldi shoppers can get Too Good to Go bags which contain £10 worth of all kinds of products for £3.30.

Sainsbury’s also sells £2 “Taste Me, Don’t Waste Me” fruit and veg boxes to help shoppers reduced food waste and save cash.

Food waste apps – food waste apps work by helping shops, cafes, restaurants and other businesses shift stock that is due to go out of date and passing it on to members of the public.

Some of the most notable ones include Too Good to Go and Olio.

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Too Good to Go’s app is free to sign up to and is used by millions of people across the UK, letting users buy food at a discount.

Olio works similarly, except users can collect both food and other household items for free from neighbours and businesses.

Yellow sticker bargains – yellow sticker bargains, sometimes orange and red in certain supermarkets, are a great way of getting food on the cheap.

But what time to head out to get the best deals varies depending on the retailer. You can see the best times for each supermarket here.

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Super cheap bargains – sign up to bargain hunter Facebook groups like Extreme Couponing and Bargains UK where shoppers regularly post hauls they’ve found on the cheap, including food finds.

“Downshift” – you will almost always save money going for a supermarket’s own-brand economy lines rather than premium brands.

The move to lower-tier ranges, also known as “downshifting” and hailed by consumer expert Martin Lewis, could save you hundreds of pounds a year on your food shop.

Some have praised the overhaul, with one fan enthusing on X: “This new Tom Kerridge Gastropub range from @marksandspencer is absolutely banging, btw.”

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Expert Amir Mousavi, a food consultant at the Good Food Studio in London, suspects rising costs were behind the hike.

He said: “Supermarket meal deals, traditionally, run as low-margin permanent promotions.

“Retailers often make 5% to 10% less margin on these offers compared to full-priced products, and their white label producers also sacrifice 5% to 10% margin.

Fans have been quick to criticise the fish and chips

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Fans have been quick to criticise the fish and chipsCredit: M&S

“With rising costs of goods over the last few years, margins have naturally shrunk for both retailers and suppliers.

“Meal deals are not as commercially viable as they once were, necessitating a price restructure to maintain profitability.”

M&S said: “As part of our exciting recent relaunch of our Gastropub range we’ve improved the quality of our dishes to ensure our customers get restaurant- and pub-quality food at home.

“As part of this we have improved 95% of our dishes and also incorporated what we call the Gastropub larder – where all our dishes use ONLY ingredients from this select list.”

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“So, for example, rather than any butter being used, the only butter in these dishes are M&S Salted/Unsalted British Butter, M&S West Country Butter Sweet Cream Butter, or M&S West Country Brue Valley Butter.

“All of these are found in our Foodhalls and ensure that the quality and taste is the same across every dish.

“We have also included the exciting new Tom Kerridge range within the Dine In deal, meaning you can get Michelin star-inspired food in the comfort of your own home and at a just a fraction of the price compared to a restaurant.”

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

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DNA analysis sheds light on lost Arctic expedition’s grisly end

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DNA analysis sheds light on lost Arctic expedition’s grisly end

Sign up for CNN’s Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more.

Archaeologists have identified the cannibalized remains of a senior officer who perished during an ill-fated 19th century Arctic expedition, offering insight into its lost crew’s tragic and grisly final days.

By comparing DNA from the bones with a sample from a living relative, the new research revealed the skeletal remains belonged to James Fitzjames, captain of the HMS Erebus. The Royal Navy vessel and its sister ship, the HMS Terror, had been under the command of Sir John Franklin, who led the voyage to explore unnavigated areas of the Northwest Passage. The treacherous shortcut across the top of North America meanders through the islands of the Canadian Arctic Archipelago.

In April 1848, exactly three years after the vessels departed England, the expedition crew abandoned the ice-trapped ships following the death of Franklin and 23 other men. Fitzjames helped lead 105 survivors on a long retreat; the men pulled boats on sledges overland in the hope of finding safety. However, the men all lost their lives during the arduous journey although the exact circumstances of their deaths remain a mystery.

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“It went horribly wrong, horribly quickly,” said archaeologist Doug Stenton, an adjunct professor of anthropology at University of Waterloo in Canada, who led the research.

A different team of researchers in 1993 found 451 bones thought to belong to at least 13 of Franklin’s sailors at a site on King William Island in Canada’s Nunavut territory. The remains identified as Fitzjames’ in the new study, published September 24 in the Journal of Archaeological Science, were among them.

Two views of the jawbone that DNA analysis linked to James Fitzjames. Arrows illustrate cut marks consistent with cannibalism. - Anne Keenleyside

Two views of the jawbone that DNA analysis linked to James Fitzjames. Arrows illustrate cut marks consistent with cannibalism. – Anne Keenleyside

Accounts gathered from local Inuit people in the 1850s suggested that some of the crew members resorted to cannibalism. While these reports were initially met with disbelief in England, subsequent investigations conducted over the past four decades found a significant number of bones had cut marks that offered silent evidence of the expedition’s catastrophic end.

Identifying Fitzjames’ remains makes a tragedy that has long gripped the collective British and Canadian psyche more personal and gave some closure to the families involved, said anthropologist and historian Claire Warrior, a senior content curator at the National Maritime Museum in London, which houses many items from the expedition. “This is a person who had a life and family and whose words we have, … (and he was) vivacious, enthusiastic and a joker,” said Warrior, who was not involved in the new study.

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The remains of James Fitzjames, a senior officer who took part in Sir John Franklin's lost expedition to the Northwest Passage, showed<strong> </strong>signs of having been cannibalized, a new study said. - Alamy Stock Photo

The remains of James Fitzjames, a senior officer who took part in Sir John Franklin’s lost expedition to the Northwest Passage, showed signs of having been cannibalized, a new study said. – Alamy Stock Photo

DNA analysis and a direct descendant

Researchers unearthed Fitzjames’ remains in an area now known as Erebus Bay, located 80 kilometers (50 miles) south of Victory Point, where the crew came ashore seeking refuge and escape. The circumstances suggest Fitzjames died a matter of weeks after his departure from Victory Point and he was possibly already in poor health, according to the study.

The bones excavated at the site were returned to King William Island in 1994 and interred in a memorial cairn. However, in 2013, Stenton was part of a team that went to the island to take samples of the remains for DNA analysis. The researchers focused primarily on teeth, which is where fragile DNA is most likely to be preserved.

“We have about 42 or so archaeological DNA profiles,” said Stenton, who is a retired director of heritage for the Nunavut Department of Culture and Heritage. “As new descendant DNA becomes available, we compare it with the archaeological DNA profiles.”

In early 2024, Stenton’s team reached out to Nigel Gambier, who had been identified by a biographer of Fitzjames as a direct descendant.

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“I was delighted to help. The effort that has gone in by so many different people to try and uncover what happened. I find it really intriguing, and I have a personal stake in what happened,” Gambier, who lives in eastern England, told CNN.

Gambier had long been aware of his distant cousin Fitzjames, who was an accomplished Royal Navy officer before joining Franklin’s expedition. After Gambier sent a swab to Stenton’s coauthor Stephen Fratpietro, who is technical manager at the Paleo-DNA Laboratory at Lakehead University in Thunder Bay, Ontario, the team analyzed DNA from Gambier’s Y chromosome, which tracks the male line. The scientists found the genetic information matched that of the archaeological sample.

James Fitzjames, captain of the HMS Erebus, made one of the handwritten notes on this document left in a stone cairn near Victory Point on King Willam Island, where the crew came ashore after deserting the ice-trapped ships. According to the new study, it reads: "H.M. Ships Terror and Erebus were deserted on the 22nd April, 5 leagues NNW of this, (hav)ing been beset since 12 Septr. 1846. […] Sir John Franklin died on the 11th June 1847 and the total loss by deaths in the Expedition has been to this date 9 Officers and 15 Men." - National Maritime Museum

Fitzjames is the second expedition member to be identified from descendant DNA. The first was Erebus’ chief engineer John Gregory, whose remains were found at the same site. Stenton and his team linked Gregory’s DNA to a living relative in 2021, the study noted. However, unlike Fitzjames’ remains, Gregory’s bones did not display any cut marks suggestive of cannibalism.

At Erebus Bay, in addition to Fitzjames, at least three other men of the 13 dead crew members documented at the site showed telltale signs of having been cannibalized.

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“It makes me realize just how desperate those poor people must have been to have to go and eat one of their own,” Gambier said. “How would you know how you’d behave yourself? If you’re faced with starvation, then you might be driven to it.”

More clues left to unravel

The discovery of Fitzjames, a high-ranking officer, as the first identified expedition member who had been cannibalized showed how status fell away in the struggle for survival during the expedition’s end days, Stenton said.

Warrior of the National Maritime Museum agreed: “So we now know that it was an officer because of cut marks on his jawbone. I think that bears testimony to the fact that these were desperate circumstances because the Navy’s a really hierarchical beast.”

Further identification of remains via DNA could shed some light on the mystery of exactly what unfolded, according to Warrior. For example, she said, it would be interesting to know whether the remains found belonged to older or younger men or came from HMS Erebus rather than HMS Terror.

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“Can we surmise anything that tells us how they might have died?” she said.

Canada’s national parks service and the Inuit communities found the final resting place of the HMS Erebus in 2014 and the HMS Terror in 2016. The fate of Franklin’s lost expedition is likely to remain a source of fascination, but piecing together the details of what happened will require a lot more information, including from the two shipwrecks.

The doomed expedition has inspired books and dramas such as “The Terror,” a 2018 television series based on Dan Simmons’ 2007 novel of the same name.

“It lives in the imagination, as much as it does in reality,” Warrior said. “Polar regions are extreme and dangerous places to be, where nature can still make us feel small.”

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Sainsbury’s shares drop after Qatari group cuts stake

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Shares in J Sainsbury fell more than 5 per cent on Friday after the largest shareholder in the UK’s second-biggest supermarket chain sold nearly a third of its shares.

The Qatar Investment Authority sold about a third of its 14.2 per cent stake in the grocer in a private placing, according to messages sent by Goldman Sachs and seen by the Financial Times.

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The transaction, made late on Thursday, leaves the QIA with a stake of about 9.5 per cent, just behind the 10.1 per cent held by the investment vehicle of Czech businessman Daniel Křetínský. The messages showed that the QIA sold the shares at 280p, a price that would raise £306mn.

Neither Sainsbury’s nor the QIA immediately responded to requests for comment on the sale. Goldman Sachs declined to comment.

Sainsbury’s shares were down 16p — or 5.6 per cent — at noon in London, at 272p.

A person familiar with the QIA’s thinking described the sale as part of its “regular portfolio management” and said the authority was fully supportive of the supermarket group’s strategy and action plan.

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Sainsbury’s in February said it planned to cut annual costs by £1bn, launch a £200mn share buyback and embark on a “progressive dividend policy”.

Including Friday’s fall, Sainsbury’s shares are down 9 per cent so far this year amid concerns about the company’s ability to compete in an aggressively competitive UK retail environment. Sainsbury’s also owns the Tu clothing and Argos brands.

The QIA first bought a stake in Sainsbury’s in 2007, quickly building up to a 25 per cent holding. But it has been reducing this since 2021 when it sold a nearly 7 per cent stake in the grocer to Křetínský.

In a note to investors, analysts at JPMorgan said that “given the strategic nature” of the QIA’s stake, they did not expect the sale to be related to forthcoming UK events such as chancellor Rachel Reeve’s first Budget statement later this month.

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Křetínský is best known in the UK for his successful bid for International Distribution Services, parent of the Royal Mail postal service, agreed earlier this year.

Additional reporting by Laura Onita and Ivan Levingston

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Weekend Essay: Beware, the cyber hackers are coming

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Weekend Essay: The art of putting things right

A few weeks ago I had an absolute nightmare of a day when my work email account got hacked.

The hacker sent out a message to around 500 of my email contacts saying: “Good morning, I hope this email finds you well. Please see attached for your records. Alternatively, you can also access by copying the highlighted link and pasting in browser: [with a link that I’m obviously not going to post here]. It would be greatly appreciated if you could review at your earliest opportunity. Many thanks, Lois”.

They even used my email signature, and I found out from a few people who had replied to “me” that the hacker had replied to them assuring them that the email was definitely from me and the link was fine to click.

They also created an Outlook “rule”, which meant that all emails with an @ sign in the address would be immediately deleted. This meant I did not receive any emails from about 11am when the attack happened, until the wonderful IT team retrieved all of my lost emails. It also meant I assumed I’d lost access to my emails.

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I felt pretty helpless. All I could do was post on LinkedIn telling people to delete the email and not click the link and hope the majority would see it.

Most people, thankfully, realised it was a scam. Anyone who knows me knows I do not use ‘email language’ like “I hope this finds you well”. And I certainly never request things at another person’s “earliest opportunity”. But I know some people clicked the link and I have no idea what the hacker was after. Money, I presume.

Our company IT team sorted it all out pretty quickly and got me back access to my email account. But there was a big chunk taken out of my working day where I didn’t have access even to my laptop while they investigated and changed my passwords.

I’m still not sure how this happened. I’m generally pretty good at sniffing out a scam, so I don’t think it was due to anything I clicked on.

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I have noticed a marked increase in phishing emails coming into my inbox recently, and they often trick even my email spam filter.

They are easy to avoid if you’re cynical and paying attention, but I fear for older people or anyone in vulnerable circumstances, who are much more likely to fall for these kinds of scams.

And things are getting worse. An article by the International Monetary Fund back in April noted that cyber-attacks have more than doubled since the Covid-19 pandemic.

This is largely because hackers are constantly evolving. A report by security software company Egress – published in 2021 – pointed out that cybercriminals are constantly devising new ways to bypass traditional anti-phishing technologies.

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In fact, it said, 98% of all phishing cases rely on social engineering, where victims are manipulated into supplying confidential information to a supposedly legitimate sender.

Financial advice firms may be wondering what all of this has to do with them.

Fraser Jack, founder of Australian firm The Cyber Collective, used to run a financial planning practice before he became a consultant. He says that, back then, he thought cybercrime was a “vague concept” that was not relevant to him or his business. But a 2019 report by Boston Consulting Group found that financial services organisations are 300 times more likely to be the victim of a cyber-attack than other types of companies.

And, in September last year, international law firm RPC revealed that UK financial services firms had reported a more than a threefold increase in the number of cyber-security breaches to the Information Commissioners Office (ICO) in 2023 compared to the previous year.

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It said that during the year to June 2023, 640 cyber security breaches were reported to the ICO, up from the 187 from the year to June 2022. The pensions sector saw the biggest rise, from six in 2021/22 to 246 in 2022/23.

The IMF article said attacks on financial firms account for nearly one-fifth of the total. Banks are the most exposed but advice firms, which hold a huge amount of client data, are certainly not immune.

“In the wild west of cybercrime, someone trying to steal your client data is less of a case of ‘if’ and more of a case of ‘when’,” Fraser Jack wrote, in an article on The Cyber Collective’s website.

It makes sense. I know if I were a cybercriminal I’d target financial advice businesses, with all their minted clients. If you have no morals, why wouldn’t you go for them?

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We know it goes on. Back in February last year, Aviva-owned Succession Wealth, which has around 200 advisers and 20,000 clients, suffered a cyber-attack, off the back of which it said it had launched an investigation and “notified the appropriate authorities”. It also introduced “further security measures”.

At the time the company would not elaborate on the nature of the attack, or give details about the security measures it had brought in.

This was a high-profile attack that was widely reported on in the media. But it is by no means the only attack of this nature on a financial advice firm.

Compliance consultancy B-Compliant said in December last year that an advice firm had contacted it to report that it had been targeted by a phishing email purporting to be from the Financial Conduct Authority. The recipient had noticed a spelling mistake and reached out to see if it was genuine. It was not.

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This, B-Compliant warned, goes to show that hackers aren’t just targeting big firms. Everyone within the sector is fair game and SMEs in particular can be seen as low-hanging fruit, as they are thought to have less infrastructure and controls in place.

Cybersecurity is a key priority for the Bank of England and the financial regulators.

Late last year, the BoE insisted that all financial firms should be testing their resilience to cyber-attacks through CBEST – a targeted assessment that allows regulators and firms to better understand weaknesses and vulnerabilities and take “remedial actions”.

“True and meaningful cyber resilience cannot be delivered or achieved without a whole-organisational, continuous effort,” it said.

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“We strongly encourage firms/FMIs to build and reinforce resilience through a strong foundation of cyber hygiene practices.”

As technology becomes more advanced and the world becomes more connected, cybercriminals are becoming more sophisticated. Financial advice firms of all sizes must be ready.

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