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The Rise of Tax-Break Trees On the English-Scottish border, a small species of butterfly, the northern brown argus, has fended off one of the biggest investors in the UK. Todrig, with its heath moorlands and hundreds of species of flora and fauna, represents an investment that could save Britain's wealthiest families millions of pounds in inheritance tax. Investment in Commercial Forests Land is increasingly being targeted for commercial forests. Only an hour away from Todrig at Stobo Hope, the ground has already been cleared, ploughed and sown with rows of tree saplings by a 'forestry carbon sequestration fund', managed by the London-based company True North Real Asset Partners. The Lucrative Business of Woodland Investment Industry calculations suggest the value of woodland has roughly doubled over the past decade, exceeding gains from some other physical assets such as commercial property – and helped by increasing numbers of wealthy families who have turned to the sector for a break from inheritance tax. Tax Breaks for Woodland Investors Commercial forests – where trees are planted and felled as soon as possible for timber – can qualify for business property relief after just two years of ownership. Investors in woodland also do not pay income or corporation tax on the value of growing timber, and no capital gains tax is due when trees are felled. Super-Rich Backers Dr Josh Doble, the director of policy and advocacy at the campaign group Community Land Scotland, says increasing demand for woodland is coming from buyers seeking a way to reduce their tax burden. The super-rich have long dabbled in woodland. The private equity tycoon Guy Hands and his wife, the hotelier Julia Hands, have been investors in the sector.

The LeadIn the heart of London's most exclusive neighborhood, a £210m palace stands empty while its only resident lives on the porch. The stark contrast between Britain's most expensive house and its sole occupant—a homeless man named Anders Fernstedt—highlights the growing disconnect between extreme wealth and housing inequality in global cities.The Empty Palace2-8A Rutland Gate is no ordinary house. With 45 rooms, four lifts, an indoor pool, and 116 windows (68 of which overlook Hyde Park), it's more accurately described as a palace. When it last changed hands in 2020, it became Britain's most expensive property, selling for £210m. Yet despite its staggering value and prime location in Knightsbridge, the property has remained vacant for years, its marble bathrooms and gold-leaf decorations gathering dust while Fernstedt lives in a makeshift tent on the porch.The Porch DwellerAnders Fernstedt has called the porch of this luxury property home for the past three years. His makeshift shelter, constructed mainly from umbrellas, is filled with personal belongings—baskets, books, newspapers, teddy bears, games, bicycles, and flowers. Despite the grandeur just feet away, Fernstedt must use a plastic bottle for bathroom needs, joking about 'Everest base camp problems.' His presence creates a powerful visual metaphor for the housing crisis in one of the world's wealthiest cities.The Ownership PuzzleThe property's ownership history is as complex as its architecture. Originally a row of terrace houses, they were purchased by Lebanese billionaire Rafik Hariri in the early 1980s and converted into a single palace. After Hariri's assassination in 2005, the property went to Saudi Crown Prince Sultan bin Abdul Aziz. Following his death in 2011, the house was sold again in 2020 to a company registered in the British Virgin Islands, reportedly owned by Chinese billionaire Hui Ka Yan, founder of the property giant Evergrande.The Global Property MarketThis story reflects broader trends in global real estate. Research shows that over the past decade, the value of offshore residential property in England and Wales has increased from £64bn to £80bn. London serves as the hub, with 47,000 overseas-owned residential properties—45% of the total and 81% by value. Half of this total value is concentrated in just two local authorities: Westminster (34%) and Kensington and Chelsea (16%), where Rutland Gate is located.The Uncertain FutureThe current status of the property remains uncertain. After Evergrande's collapse in 2024 and Hui's guilty plea to fraud charges, the house's ownership has become entangled in legal complications. While the property was reportedly transferred to Hui's ex-wife Ding Yumei, her assets have been frozen, preventing any sale. Meanwhile, the luxury palace continues to sit empty, its potential as a home unrealized, while its porch remains occupied by a man with nowhere else to go.

The Failure of Economic Growth We live in an age of manufactured scarcity. In a world richer than ever before, roughly one 10th of the world’s population still lives in extreme destitution. Millions of people cannot afford enough food, proper housing or basic healthcare, while a tiny minority accumulates unprecedented wealth and power. A New Economic Model These are not separate crises. They are symptoms of an economic model that has reached the end of the road. Poverty and inequality are not accidents; they are predictable outcomes of policy choices: how we design tax systems, regulate labour markets, value care, structure public services and decide whose needs and whose voices matter. The Data Analysis For decades, the recipe was simple: grow the economy, and poverty would gradually disappear. But the promise that economic growth would “lift all boats” has not been kept. While national incomes expanded, wages stagnated, work became more precarious and public services were cut. At the top, fortunes ballooned; at the bottom, families turned to food banks. The Impact Analysis It has also become ecologically unsustainable. We are edging towards a “hothouse Earth”, where rising emissions and biodiversity loss are destabilising the conditions that support human life. Around 92% of excess global carbon emissions can be attributed to the global north, and the wealthiest 10% of individuals are responsible for nearly half of global emissions. The Prediction That is why we have come together to develop and support the “roadmap for eradicating poverty beyond growth”. The roadmap provides a range of alternatives on how to move beyond the narrow “grow-tax-transfer” approach that has shaped policy for decades. We call on political leaders at all levels to use them, to listen to those most affected, and to treat the end of poverty, the reduction of inequalities and the effective realisation of human rights as the measure by which economic policy should be judged.

The Unbreakable Bond of Brotherly Love In a heartwarming display of sibling support, Guéla and Desiré Doué, brothers from Côte d'Ivoire and France respectively, are making headlines at the World Cup. The brothers, born to a French mother and an Ivorian father, have always been inseparable. A Family Rooted in Football The Doué brothers' love for football runs deep. Guéla, who plays for Côte d'Ivoire, and Desiré, who plays for France, have been involved in football since they were young. They were both signed by Rennes' youth academy after Guéla's trial, with Desiré doing keepy-ups on the sidelines at just five years old. Sibling Rivalry Takes a Backseat Despite playing for different teams, the brothers are showing immense support for each other. In a recent match, when Guéla scored for Côte d'Ivoire, the camera immediately panned to Desiré on the opposition bench, who wore a wry smile. The brothers even embraced at the end of the match, with Desiré happy for his older brother's achievement. The World Cup's Sibling Phenomenon The Doué brothers are not the only siblings at the World Cup. There are six other pairs of brothers playing in the tournament, with some playing for the same team and others for different nations. The brothers' bond is a testament to the power of family and support in the world of football. A Potential Reunion on the Horizon With Côte d'Ivoire and France potentially facing off in the knockout stage, Guéla and Desiré Doué could become the next pair of brothers to play against each other at the World Cup. Only once before have brothers played each other in the tournament's history, with Jérôme and Kevin-Prince Boateng facing off in 2010 and 2014.

Vingegaard's Grand Slam Achievement Jonas Vingegaard's victory in the Giro d'Italia has catapulted him into an elite club of champions who have won all three Grand Tours - the Tour de France, Giro d'Italia, and Vuelta a España. The 29-year-old Dane joins cycling legends such as Eddy Merckx, Bernard Hinault, and Jacques Anquetil, among others. The Event Details Vingegaard's grand slam is all the more remarkable given that he endured life-threatening injuries following a high-speed crash in the Basque Country in 2024. He broke his ribs, sternum, and collarbone and also punctured a lung. Despite this, he has shown resilience and determination, winning the Giro d'Italia with a significant margin of over five minutes. The Data Analysis Vingegaard has won five summit finishes in the Giro d'Italia. He has finished second in the Tour de France and won the Vuelta a España in the past 11 months. This season, he has also won Paris-Nice, the Volta a Catalunya, and the Giro d'Italia. The Impact Analysis Despite Vingegaard's impressive achievements, he still exists in the shadow of Tadej Pogacar, who is considered the favorite for the upcoming Tour de France. Pogacar has been racking up wins in other races and has yet to add the Vuelta a España to his victories in the Tour de France and Giro d'Italia. The Prediction With Pogacar still at the peak of his powers, it will be challenging for Vingegaard to surpass him. However, Vingegaard has shown room for improvement, and a third Tour win is possible for him if Pogacar experiences a dip in form. The Tour de France is set to take place in July, and the cycling world is eagerly anticipating the competition between these two top riders.

The Leadership Survival and Rebuild ImperativeIn the aftermath of a disastrous Ashes campaign in Australia, England cricket finds itself at a critical juncture. Brendon McCullum, the head coach in all formats, and Rob Key, the managing director of men's cricket, remarkably retained their positions despite the team's comprehensive failure. This survival, while providing continuity, places immense pressure on both leaders to deliver meaningful change in England's cricketing approach and culture.As the team sets about its post-Ashes reset, the core challenge becomes transforming a philosophy that was brutally exposed during Australia's tour. The question now is whether McCullum and Key can evolve their approach while maintaining the attacking mindset that initially defined their tenure.The Cultural Reset After Ashes FailureEngland's winter in Australia revealed deep issues both on and off the field, necessitating a fundamental reassessment of team culture. The positive emerging from this failure is a recognized opportunity and appetite for change. McCullum, who established the current culture after his appointment in 2022, is now paradoxically tasked with changing it.Notably, the cultural reset extends beyond the squad to include the relationship with county cricket. After previous comments from Key and McCullum about domestic cricket were deemed crass and condescending, the creation of a County Insight Group—comprising head coaches who will regularly meet England's leadership—signals a tangible shift in approach.Performance Analysis and Coaching EvolutionMcCullum's coaching philosophy has come under intense scrutiny following the Ashes defeat. While he admits he is not a hugely technical coach, questions remain about whether he has surrounded himself with experienced specialists who can support players in the technical foundations of cricket.The dismissals of players like Zak Crawley and Ollie Pope highlighted technical deficiencies that cannot be ignored. England's coaching appointments since the winter will be crucial in determining whether the environment can become one where technical excellence complements the aggressive playing style.Shifting the Narrative and ExpectationsEngland's cricket landscape is undergoing significant transformation. The relationship between leadership and players, between international and domestic cricket, and between aggressive intent and smart execution all require recalibration.McCullum's messaging must evolve from simply 'running towards the danger' to a more nuanced approach that emphasizes winning key moments while maintaining an attacking identity. This represents a delicate balance that will test his adaptability as a coach.Summer Tests and the Road AheadWith England no longer considered a young, evolving side but rather an experienced unit approaching its peak, the upcoming series against New Zealand and Pakistan serve as critical litmus tests. Expectations will be high, with comprehensive victory against Pakistan anticipated and the New Zealand series viewed as a more significant challenge.Success in these series could restore positivity and move England beyond the winter's failures, positioning the team favorably for bigger tests against India and Australia—the true measures of whether McCullum and Key's rebuild has been successful.

The Enduring Legacy of Peter Asher Peter Asher, a name synonymous with the evolution of popular music, has led a life that reads like a fairy tale. From his early days as a child actor to his pivotal role in shaping the careers of iconic artists like James Taylor and Carole King, Asher's story is one of passion, intellect, and innovation. The Formative Years Born into a family of intellectuals and creatives, Asher's upbringing laid the foundation for his future success. His mother, an accomplished oboe player, and his father, a respected endocrinologist, instilled in him a love for music and a keen analytical mind. This unique blend of artistic and scientific inclinations would serve him well in his future endeavors. A Chance Encounter with Paul McCartney Asher's connection to the Beatles began long before he became a renowned producer. As a teenager, his sister Jane was courted by Paul McCartney, who was drawn to her intelligence and beauty. This early interaction would eventually lead to Asher's involvement in the music industry, as McCartney offered him a song, A World Without Love, which became a No 1 hit for the duo Peter and Gordon in 1964. The Rise of a Legendary Producer Asher's transition from performer to producer was marked by his work with James Taylor, whom he signed to Apple Records. His production style, which emphasized orchestration and harmony, helped shape Taylor's intimate sound. Although their collaboration was initially tumultuous, Asher's dedication to his craft earned him a reputation as a meticulous and innovative producer. A Lasting Impact on Music Asher's influence on popular music extends far beyond his work with individual artists. He played a significant role in instigating the soft revolution that allowed singer-songwriters to dominate the charts in the 1970s. His legacy continues to inspire new generations of musicians and producers, cementing his status as the 'Everywhere Man' of music.

The Maestro's Journey Ryan Wigglesworth, a 46-year-old conductor and composer, exudes confidence as he walks through the Royal Academy of Music in London. With a multitude of roles under his belt, including chief conductor of the BBC Scottish Symphony Orchestra and professor at the Royal Academy of Music, Wigglesworth's musical journey is a testament to his dedication and passion. Early Beginnings and Musical Influences Wigglesworth's musical journey began at a young age. As a timid and shy child, he found solace in music, particularly after being sent to audition for Sheffield Cathedral Choir. His teacher, Graham Matthews, took him under his wing, and Wigglesworth was swept into a new world of music. He cites his father's LPs and the music collection of the Sheffield Central Library as significant influences on his early musical development. A Life-Changing Encounter At age 12, Wigglesworth first came to Aldeburgh, where he met composer Oliver Knussen. This encounter would prove pivotal in his career, with Wigglesworth describing their relationship as 'the central musical relationship of my life.' He spent his formative years soaking up knowledge at the festival's Snape Maltings concert hall, where Knussen was artistic director. Conducting and Composing Wigglesworth's approach to conducting and composing is deeply rooted in his musical experiences. He began composing at a young age and started conducting at university, where he would often assemble ensembles to perform his own pieces. His music is characterized by its dialogue with history, and he hopes to create a sense of economy and spaciousness in his compositions. The Future of Classical Music Wigglesworth believes that classical music, particularly new music, is often treated with suspicion. He advocates for a more integrated approach to music-making, where composition is not separate from the rest of life. As a featured artist at the Aldeburgh Festival, Wigglesworth will have the opportunity to showcase his music, including a semi-staged performance of Debussy's Pelléas et Mélisande and a new viola concerto.

The Timeless Allure of Boogie Nights Masculinity was never more fragile than in Paul Thomas Anderson’s picaresque porn comedy from 1997, inspired by the life and times of 70s/80s LA adult movie star John Holmes. It’s a film that delivers the era’s jukebox slams on the soundtrack, though oddly not the Heatwave classic that provides the title. But Boogie Nights gives the male-gaze world of porn a taste of its own phallocentric medicine. How does it feel for a guy to be known and valued for just one thing, and then mocked and even hated when that one thing shrivels? The Fragile Hero of Porn What happens, in fact, is that our detumescent hero symbolically turns to the more reliably priapic world of guns and crime, although not without first embarrassingly trying to make it as a singer. (David Foster Wallace, in his 1998 essay Big Red Son, about the Adult Movie awards in Las Vegas, compares the event’s musical interludes to the ghastly screeching in Boogie Nights.) Twenty-six-year-old Mark Wahlberg plays handsome young teen Eddie, or Dirk Diggler, as he is later professionally to style himself who, while working behind the bar in a nightclub in California’s San Fernando Valley in 1977 (where he supplements his income by jerking off in the kitchens at the bidding of paying voyeur customers) he meets silver-fox porn impresario Jack Horner, played with leathery assurance and style by Burt Reynolds. A World of Excess and Addiction With his industry sixth-sense for untutored talent, Jack picks up on what a later generation would call Eddie’s BDE; he offers him a job on his latest dirty movie, where Eddie morphs into “Dirk”, wowing colleagues with his size, stamina and quick turnaround time. Dirk gets to know his supportive new industry family. These include Julianne Moore, who here establishes the sexy-tragic drama queen persona that has surfaced so often in her career. She is Maggie, a divorced mother and elder stateswoman of porn, clenched with the secret anguish of not seeing her child and displacing that maternal longing on to her hardcore scenes with Dirk. Nicole Ari Parker is Becky and Heather Graham is Brandy, known as “Rollergirl”, for never removing her roller skates; her awful destiny is to be forced to play a scene with a guy who once mocked her in high school. The Influence of Cinema Legends Behind or above or within all of this is cocaine, a vast omnipresent glittering mountain of white powder, powering the rush behind the success-surge in Dirk’s career montage. Porn and coke merge into a single entity – a compulsive, addictive demon which destroys Dirk’s endowment. Then there is the industry’s great crisis. Jack is an artist of adult entertainment, a celluloid purist who resents the new world of videotape arriving like the talkies in Singin’ in the Rain; at the end, there’s a premonition of homemade gonzo content, though that was hardly more than a rumour in 1997. A Lasting Cinematic Experience As a film, Boogie Nights is clearly influenced by Scorsese: not just the epic rise-and-fall trajectory of GoodFellas but in Dirk running his lines in front of the mirror like Jake LaMotta. There is also something of Tarantino in the late-night store stick-up that leaves Buck covered with blood and with a brown paper-bag full of cash. Yet at this stage Anderson arguably didn’t have Scorsese’s gift for making his dramas about something more than themselves.