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The Lead Modella Capital, a low-profile investment group, has snapped up the former WH Smith high street business for a significantly reduced price, sparking concerns over the chain's future. The Event Details WH Smith's high street arm was sold to Modella Capital last summer for £76m, including £52m in cash. However, the deal was later reduced to £40m, with only £10m paid upfront. The chain has since been rebranded as TG Jones. The Data Analysis Original sale price: £76m Reduced sale price: £40m Upfront payment: £10m Potential store closures: up to 150 Jobs at risk: thousands The Impact Analysis The restructure plan has raised concerns over the impact on the high street and the jobs of thousands of employees. The chain's decline reflects the changing shape of UK high streets and shopping habits. The Prediction The future of TG Jones remains uncertain, with retail insiders expecting further store closures. The chain's ability to compete with online retailers and cut-price rivals will be crucial to its survival.

The Unparalleled Experience of CannesNothing prepares you for the shock that is the Cannes film festival: the adrenaline, the fatigue, the elation and the emotion, but also the hunger, the anger, the magic and the ridicule. For young cinephiles, and for almost everybody who works in the film industry, it is the mecca of cinema and has been so for nearly eight decades. Anyone going for the first time this week, as I did 25 years ago, should not listen to the old grognards – Cannes' battle-worn veterans – who will lament that the festival has become an abominable circus and swear this year will be their last. It is a circus, and you can bet they will be back for as long as their knees can take it. For there is nothing quite like it.From Resistance to Global Cinema HubBorn to counteract Benito Mussolini's Venice film festival, its first edition was planned for September 1939, but Adolf Hitler had other plans. The previous year, under pressure from Berlin and Rome, the Venice film festival's top prize, the Coppa Mussolini, was handed to Leni Riefenstahl's propaganda film Olympia, prompting the French, British and American delegates to walk out. Hence Cannes, conceived as the festival of the "free world". More than 80 years later, for all its sins, it has remained faithful to that founding promise.The Expansive Scale of Modern CannesOver the decades, Cannes has mutated into an ever-hungrier mammoth, needing more space, and more venues, as it attracts an increasing number of journalists and professionals. A purpose-built Palais des Festivals had to be erected in the 1980s. "The bunker", as we have come to call it, is not exactly beautiful but brutally efficient at managing Cannes' mind-boggling crowds. This year, about 40,000 accredited festival-goers are descending on the French Riviera from 140 different countries, with dozens of films selected across all sidebars. At the same time, the Marché du Film, running alongside the festival since the late 1960s, is gathering about 16,000 participants, with thousands of films and projects up for sale. Cannes is both a summit for the cinema elite and a giant film bazaar.Three Worlds Colliding at La CroisetteFor 11 days in May, three different worlds lead parallel lives – critics, deal-makers and red-carpet royalty – colliding almost by accident on the seafront boulevard known as La Croisette. Hundreds of critics watch multiple films a day with monastic discipline. When they give in to parties, they bitterly regret it the next morning. You can spot some of us sleeping through entire screenings; how some colleagues manage to review films is a mystery. I remember a well-known French critic who had such vivid dreams in the darkness that he became convinced they were scenes in the films. His reviews were full of brilliant analysis of moments that did not exist.We critics rush between screenings, press conferences, interviews, our desks and the bunker's free espresso machines, often forgetting to eat or even pee. Downstairs, in the bunker's basement, and in hotel suites and rented apartments, the film market runs day and night: buyers juggle numbers, producers charm, directors and screenwriters fight for their vision. Above them floats Cannes' top layer – stars and "talent" spending hours in hair and makeup before climbing the 24 steps of the red carpet in borrowed couture and jewellery. When people in the industry groan, "oh God, it's Cannes again", it is this collision of financial anxiety, choreographed glamour and sheer exhaustion they are bracing themselves for.The Magic and Meaning Behind the GlamourThese worlds sometimes collide in the most poetic or grotesque ways. One morning, rushing to my first screening at 7.30am, I was walking along the Croisette when I saw, coming towards me, slightly dishevelled in a tuxedo, Jack Nicholson on his way back to his hotel after a long night. I smiled, he smiled back. He was alone, no bodyguards, no chaperones. Those were the days. I also shared a lift with Takeshi Kitano in full samurai attire, and I will never forget turning into a hotel corridor and finding myself nose to nose with Max von Sydow – Ingmar Bergman's medieval knight from The Seventh Seal. My cinephile heart skipped a beat.One of my favourite sidebars in Cannes, alongside the competition where you watch the year's best crop of films, is Cannes Classics, showing restored world masterpieces and documentaries about cinema. I always start the festival there: it is the best way to reset and begin afresh. Then I am ready for the 10-day onslaught of motion pictures, and for the magic moment that precedes each Cannes screening – the festival's own jingle, a palm ascending the red carpet from underwater and then into the sky, lifted by the ethereal arpeggios of Camille Saint-Saëns's Carnival of the Animals.Cannes: Enduring Symbol of Cinematic ResistanceIn 1955, Cannes gave its first official Palme d'Or to Delbert Mann's Marty; half a century later I found myself befriending its wonderful star, Betsy Blair, on the Croisette. I had the joy of seeing Ken Loach twice climbing those steps to collect the Palme, escorted by police outriders from Nice airport as if he were a head of state. I watched Iranian directors Jafar Panahi and Mohammad Rasoulof showing films at peril to their lives. For all the craziness of the red carpet and the samurai outfits, Cannes never forgets that it was founded as a gesture of resistance. That, as much as the glamour and the exhaustion, is why we keep going back.

The LeadA man arrested for stealing hard drives containing unreleased Beyoncé music has pleaded guilty in an Atlanta court and been sentenced to two years in prison.The Theft DetailsKelvin Evans was arrested in September 2025 in connection to a July 2025 car robbery where two suitcases containing Beyoncé music and tour plans were stolen from a rental car. In an Atlanta court, Evans accepted a five-year sentence of which he will serve two years in custody. He was ordered to avoid the location of the theft in Atlanta and refrain from contact with the victim as part of his probation terms.The Music Industry ImpactThe stolen hard drives contained "watermarked music, some unreleased music, footage plans for the show and past and future set list," according to a police report. The theft occurred before Beyoncé's Cowboy Carter tour dates in Atlanta, which was later the highest-grossing tour of 2025, earning the performer over $407m across 32 shows.The Legal ConsequencesEvans initially pleaded not guilty and reportedly declined to take a deal in April, but changed his plea in court. He was arrested several weeks after the victims filed a report and was released on a $20,000 bond a month later. At the time of his arrest, Atlanta police confirmed that the stolen property had not been recovered, and it remains unclear whether it has since been found.The Beyoncé ContextBeyoncé's Cowboy Carter won the 2025 album of the year Grammy and was praised as "a thrilling 27-track journey through and beyond America's roots music." Earlier this month, Beyoncé co-chaired the Met Gala alongside Nicole Kidman, Venus Williams and Anna Wintour. Rumors have been swirling that Beyoncé will drop her new album this summer, speculatively titled Act III with a possible rock direction.

The Announcement of Cleary’s Planned DepartureIvan Cleary confirmed on Wednesday that he will step aside as head coach of the Penrith Panthers at the end of the 2026 season, after 18 months remain on his current contract.Details of the Transition and Advisory RoleCleary said his decision was not taken lightly and that he will remain with the club in an advisory role focused on leadership and culture beyond 2027. His assistant, Peter Wallace, is slated to take over as head coach, giving him a full season to lead the team.Contractual Landscape and Player Off‑Contract Numbers18 months left on Cleary’s contract.Four straight premierships (2021‑2024) under his second stint.Key players—including son Nathan Cleary, captain Isaah Yeo and back‑rower Liam Martin—are off‑contract at the end of next season.Panthers have won 10 of 11 games this season, sitting atop the NRL ladder.Implications for the Panthers’ Dynasty and NRL Power BalanceThe move threatens the collapse of what many consider the most dominant modern‑day NRL dynasty. With several star players facing free‑agency decisions, retaining the core squad will be a major challenge for the club’s hierarchy.Outlook: What Lies Ahead for Penrith and the NRLCleary believes his early announcement provides clarity for contract negotiations and gives Wallace a solid footing. If the Panthers can keep their marquee talent, they may extend their dominance; otherwise, the NRL could see a power shift as rivals vie for the departing stars.

The Unlikely Entourage Member Brett Ratner, the director behind the Rush Hour movies and a documentary on Melania Trump, is accompanying Donald Trump to China for his summit with Xi Jinping. Ratner was among the group of CEOs and top executives from major US tech and finance firms, including Apple’s Tim Cook, Tesla’s Elon Musk and BlackRock’s Larry Fink, who boarded Air Force One. Scouting for Rush Hour 4 Locations Trump’s spokesperson, Victoria Palmer-Moore, said he would use the trip to scout for filming locations for the latest instalment of the Rush Hour franchise. She added that Ratner plans to shoot “a lot” of Rush Hour 4 in China. The Rush Hour Franchise Revival The original Rush Hour was an instant hit in 1998, topping the US box office charts upon its release. Its sequel Rush Hour 2 was also a huge commercial success in 2001, before Ratner’s critically and commercially disappointing Rush Hour 3 was released in 2007. Despite rumours of a fourth film circulating for almost two decades, with Chan suggesting in 2017 that he and Tucker had agreed upon a new script, development had stalled until Trump intervened in late 2025. Ratner's Comeback Trump’s support has allowed Ratner to make a comeback in Hollywood after being sidelined after accusations of sexual misconduct during the #MeToo movement in 2017. Ratner denies all of the allegations. In 2026, Ratner released Amazon-backed documentary Melania, which followed the first lady during the 20 days before Trump’s second inauguration. The China Connection The president is reportedly a huge fan of Rush Hour, which revolves around detectives James Carter and Yan Naing Lee – played by Chris Tucker and Jackie Chan respectively – as they navigate their cultural differences and investigate crimes in Hong Kong, Paris and Los Angeles. Last November, Trump encouraged billionaire Larry Ellison, the primary financial force behind Paramount Skydance, to bring back the franchise once Paramount went through with its controversial purchase of Warner Bros.

The Quick Collapse of the $1.5bn Gold Coast Trump Tower DealIn February, David Young of Altus Property Group and Eric Trump announced a partnership to build the tallest tower in Australia on the Gold Coast, branding it Trump International Hotel & Tower Gold Coast. Within three months the agreement was terminated, with both sides blaming each other.Why Altus Property Group Cited the Trump Brand as ‘Toxic’Young posted on LinkedIn that the ongoing war in Iran had made the Trump brand “toxic to Australians”, claiming the negative perception was “pure sensationalism” and not related to the President himself.Altus argued the brand’s image was harming marketability.The Trump Organization responded that Altus failed to meet basic financial obligations.Financial Stakes: $1.5bn Project and Developer’s Bankruptcy HistoryProjected investment: $1.5 billion.Young has declared bankruptcy twice; the first was later annulled.The Trump Organization alleged missed payments upon execution of the agreement.Implications for Luxury Branding and Gold Coast DevelopmentThe fallout highlights the risk of attaching politically charged brands to high‑profile real‑estate projects, especially in a market sensitive to international conflicts. Gold Coast mayor Tom Tate confirmed no formal planning application had been submitted, underscoring regulatory caution.What’s Next for the Site and Similar High‑Profile ProjectsAnalysts predict the land will likely be re‑marketed under a different brand, but securing financing may remain challenging given the developer’s track record. The episode may deter other developers from pursuing “flash‑in‑the‑pan” branding strategies without solid financial backing.

The Leadership Challenge Keir Starmer will not lead his party into the next general election, Labour-supporting unions have predicted, in an intervention that threatens to further destabilise the prime minister after a damaging few days. The Unions' Statement The 11 Labour-affiliated unions – which include Unite, Unison and the GMB – are expected to issue a joint statement on Wednesday saying “at some stage” the party will have to put a plan in place to elect a new leader. Unions divided over whether to call for Starmer to set out a timetable for his departure Some union leaders have urged Starmer to quit, with Unite’s Sharon Graham saying the “writing is on the wall” for the prime minister The Impact on Starmer's Leadership Starmer was increasingly confident that he had seen off the immediate threat to his job on Tuesday after a challenge from Wes Streeting failed to materialise despite several of the health secretary’s allies quitting the government. However, his fragile authority has been weakened by the resignation of four ministers – three of them close allies of Streeting – in what appeared to be an orchestrated move. The Future of the Party In their draft statement, which is due to be released on Wednesday, the union general secretaries wrote: “Labour’s affiliated unions have been clear that Labour cannot continue on its current path. “Whilst we recognise progress has been made, such as aspects of the Employment Rights Act and the increase in the minimum wage, the results at the election last week were devastating. “Labour is not doing enough to deliver the change that working people voted for at the general election. The Prediction It's clear that the prime minister will not lead Labour into the next election, and at some stage a plan will have to be put in place for the election of a new Leader.

President Vladimir Putin announced on May 13, 2026 that Russia’s new Sarmat ICBM test was successful, branding it the most powerful missile ever built and signalling a major step in Moscow’s nuclear modernisation.Putin Announces Successful Sarmat Test LaunchState TV showed Sergei Karakayev, commander of Russia’s strategic missile forces, briefing the president on the test conducted on Tuesday. The Sarmat, dubbed “Satan II” in the West, is slated to enter combat service before the end of the year.Technical Specs and Performance ClaimsRange: exceeds 35,000 km (about 21,750 miles) via sub‑orbital flight.Warhead yield: claimed to be more than four times that of any current Western ICBM.Replacement goal: to supplant roughly 40 aging Soviet‑era Voyevoda missiles with higher precision.Development timeline: program started in 2011; prior to this test only one successful launch and a 2024 catastrophic failure were recorded.Strategic Implications for Global Arms ControlThe test occurs against the backdrop of the New START treaty’s expiration in February 2026, leaving the United States and Russia without a binding cap on strategic warheads. Both sides accuse each other of non‑compliance, and no successor agreement is in sight, raising concerns about a new arms‑control vacuum.U.S. officials, including former President Donald Trump, have floated the idea of a trilateral treaty that would also involve China, whose nuclear arsenal, while smaller, is expanding.Potential Trajectory of Russia’s Nuclear ModernisationRecent additions: Avangard hypersonic glide vehicle (already in service), Oreshnik IRBM (used in Ukraine), Poseidon underwater drone (final development stage), Burevestnik nuclear‑powered cruise missile.Strategic rationale: counter perceived U.S. missile‑defence shield and ensure second‑strike capability.Putin framed these developments as a response to a “new reality” where maintaining strategic parity is essential for Russia’s security.Outlook: Risks and Possible Diplomatic PathsAnalysts warn that the Sarmat’s deployment could accelerate a new arms race, especially if the United States expands its own missile‑defence and offensive capabilities. However, the urgency of re‑engaging in arms‑control talks may grow, as the lack of a treaty increases the risk of miscalculation.Future scenarios range from renewed high‑level dialogue leading to a multilateral framework that includes China, to a continued escalation where each side expands its nuclear arsenal to offset perceived vulnerabilities.

The Lead: A Budget That Begins to Pay Future GenerationsThe latest Australian federal budget, presented by Jim Chalmers, acknowledges that the nation is at a point in the economic cycle where a surplus should be possible. While it does not erase the existing debt, it marks a decisive step toward investing in reforms that benefit younger Australians and protect the country’s natural capital.Key Reform Packages Embedded in the 2026 BudgetThe budget goes beyond headline numbers to fund a suite of reforms aimed at long‑term productivity and environmental stewardship:Implementation funding for the sweeping amendments to the Environment Protection and Biodiversity Conservation (EPBC) Act passed in December.Investment in a national bioregional planning framework to guide development, renewable energy, mining and carbon‑farming projects.Dedicated resources for Environment Information Australia to improve the quality of biodiversity data.Establishment of a fully resourced, independent Environment Protection Agency with enforcement powers.Fiscal Context: Deficit, Debt and the Push for SurplusThe commentary notes that Australia is currently adding tens of billions of dollars each year to public debt. The budget’s ambition is to reverse this trend by:Targeting a surplus in the current economic cycle.Ensuring the tax system, overdue since the Rudd‑era review, supports stronger budget outcomes.Seeking a larger share of resource rents from foreign multinationals for the public purse.Environmental Impact: From EPBC Amendments to a Resourced EPABy allocating funds to close the implementation gap of the EPBC reforms, the budget aims to move environmental protection from a reactive afterthought to a proactive planning tool. Bioregional plans will map where development can proceed, where it cannot, and where restoration delivers the greatest return, providing certainty for industry and habitat connectivity for threatened species.Outlook: How the Reforms Could Shape Australia’s Next DecadeAccording to former Treasury secretary and climate advocate Ken Henry, the budget’s reforms are “the building blocks that can transform how we protect and restore the environment in the midst of massive economic change.” If the market for nature restoration takes off and the new EPA enforces standards effectively, future generations could inherit a continent with robust ecological foundations, supporting both biodiversity and a sustainable economy.