Jim Ratcliffe’s chemicals giant Ineos has bought Britain’s most successful road cycling team in recent years, Team Sky. The industrial firm, owned by Britain’s richest man Ratcliffe, will rename the cycling organisation Team Ineos when it takes over on 1 May. Read more: Ineos takes over US white pigment producer in $700m deal Tour Racing Limited, the holding company which owns Team Sky, had been looking for a buyer to secure its future after Sky said in december it would end its 10-year agreement at the end of 2019. In that time, Team Sky have won eight Grand Tours and six Tour de Frances, the most prestigious annual competition in road cycling. The cycling team said Ineos would “continue to fund the current team in full, honouring all existing commitments to riders, staff and partners”. Ratcliffe, who is worth £21bn, said: “Cycling is a great endurance and tactical sport that is gaining ever more popularity around the world. Equally, cycling … [Read more...] about Jim Ratcliffe’s Ineos buys Team Sky, securing future of Britain’s most successful road cycling team
The UK’s plans for building a 5G mobile network are putting national security at risk, Trump officials have warned, as the US urges its allies not to partner with Huawei. Senior US officials warned the UK’s system of testing Huawei equipment would not be enough to ensure the country’s 5G network is secure, the Financial Times reported. Read more: Germany will set its own 5G security standards, says Merkel The warnings come amid growing pressure from the US, which has told its allies any collaboration with the Chinese tech firm could compromise intelligence sharing agreements. The National Cyber Security Centre (NCSC), which is part of GCHQ, is currently preparing its annual report into the safety of Huawei equipment. While the findings of the report are yet to be published, the NCSC has previously indicated it has not seen any evidence of spying by the Chinese firm. One US official told the Financial Times a significant risk of 5G is that it is based on software, … [Read more...] about UK national security at risk over Huawei 5G plans, Trump officials warn
Prosecutors in the US are investigating the development of Boeing’s jet model which has been involved in two fatal crashes in recent months. The 737 Max range, Boeing’s new flagship plane designed to be a mainstay for decades to come, has been grounded by authorities across the globe after an Ethiopian Airlines jet crashed on 10 March, killing 157 people. Read more: Investigation into Boeing Ethiopia crash black box data begins Reuters reported the US Justice Department is looking into how the US airline authority, the Federal Aviation Administration (FAA), has regulated the manufacturing giant. The FAA raised eyebrows last week after delaying its decision to ground Boeing’s jet in US airspace until after virtually all other aviation authorities around the world had done so. The standoff raised concerns Boeing was too close to the Trump administration, after chief executive Dennis Muilenburg personally called the President on Tuesday 12 March to reassure him the plane … [Read more...] about Development of Boeing’s grounded jet ‘under investigation’ in US after second crash in five months
Is the proposed ban on TV junk food ads before 9pm just another example of nanny state regulation? Daniel Pryor, head of programmes at the Adam Smith Institute, says YES. When the government wants to treat TV ads for fruit juice like soft porn, you know something has gone horribly wrong. There’s no legal definition of “junk food”, so proposed ad bans use the “Nutrient Profile Model”, devised by a man who believes that God told him to bring the sugar tax to Britain (honestly). Everything from hummus to half-fat cheese is branded junk food. Public Health England would go even further and include virtually all fruit juices, smoothies, and yoghurt drinks. Even if we had a good definition to work with, banning these ads on TV before 9pm would still be the wrong move. There’s no credible evidence that it will make a dent in childhood obesity rates. Advertising doesn’t conjure up entirely new desires – it encourages people who fancy a pizza to … [Read more...] about Is the proposed ban on TV junk food ads before 9pm just another example of nanny state regulation?
An Interserve subsidiary has won a $100m (£76m) contract to carry out maintenance on oil and gas sites in Abu Dhabi, days after its parent company was forced into administration. The outsourcer will replace firewater pumps and liquid sulphur loading systems at offshore and onshore sites owned by Abu Dhabi National Oil Company (ADNOC). Read more: Mitie closes in on Interserve support services arm ADNOC is the state-owned oil company of the United Arab Emirates, which holds the seventh-largest proven reserves of oil in the world at 97.8bn barrels. Most of these reserves are in Abu Dhabi. Interserve’s subsidiary, Adyard Group, has been awarded the contract, despite the administration of its parent company on Friday after shareholders voted down a plan designed to relieve most of its £630m debt pile, which would have seen their collective stake in the company diluted to five per cent. The firm today embarked on a new chapter as a private company, as its shares were removed … [Read more...] about Interserve wins £76m oil and gas contract despite falling into administration days ago