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The LeadA former chair of an influential parliamentary committee has expressed shock that the public spending watchdog has not established how much money Prince Andrew made from subletting properties on his Windsor estate.Transparency Concerns Over Royal FinancesMargaret Hodge, who led the public accounts committee, told BBC Radio 4's Today programme she was "very concerned" that the National Audit Office (NAO) was not able to find out how much money the former prince had made from letting properties. She also raised concerns that a report by the NAO did not cover all of the crown estate properties.Financial Arrangements at Windsor EstateHodge made her comments after the NAO revealed Prince Andrew received private income from subletting three cottages on his Windsor Royal Lodge estate while paying a "peppercorn rent" to the crown estate. The Labour peer emphasized that "we all want a royal family to be continued to be respected, valued and treasured" but "in a modern era that does require proper transparency and accountability."Questions About Non-Working RoyalsHodge raised concerns about other royals including Princess Beatrice and Eugenie and Prince Michael of Kent and his wife, who were "subsidised in the way that they were living on the estate, they weren't paying rent, and yet they're not working royals." She questioned whether it was appropriate for non-working royals to be subsidised by taxpayers from a fund that belongs to the taxpayer.The Crown Estate's PositionThe crown estate is "our money, it's taxpayers' money, it's not theirs," Hodge stated, adding that "whoever runs that has to always ensure the taxpayers' interest." The review also shows that King Charles pays an "adjusted" rent from his private Duchy of Lancaster income, below open market value, for his disgraced brother's non-working royal daughters to live in royal palaces.Prince and Princess of Wales Property DetailsMeanwhile, the Prince and Princess of Wales's Forest Lodge home in Windsor underwent £400,000 repairs carried out by the crown estate before the couple moved in with their three young children last year. William and Catherine took out a 20-year lease on the Grade II-listed Georgian house and pay £307,200 rent a year, reviewed every five years. They paid no upfront premium and are responsible for internal refurbishments and alterations.Official ResponsesA spokesperson for the crown estate stated that "the crown estate welcomes the National Audit Office's review, which confirms its leases with members of the royal family were agreed in line with independent, professional advice and open market valuations." Buckingham Palace also responded, saying they were "grateful to the National Audit Office for this report, which is in line with the royal household's commitment to transparency."

The Takeover Deal Evoke, the owner of William Hill and the 888 online casino brand, has agreed a £243m takeover by the Greek casino and lottery operator Bally's Intralot. The Background of the Deal Evoke has been locked in talks with the Athens-listed Bally's Intralot, which has extensive international operations including in the US, for the past two months. The deal comes four years after Evoke, previously known as 888 Holdings, paid £2.2bn to buy William Hill's network of 1,400 high street bookmakers. The Impact of UK Gaming Tax Changes The companies said the government's announcement in November of a significant increase in remote gaming duty, from 21% to 40%, triggered a “material shift in the UK operating environment” that will “create meaningful dislocation across the competitive landscape”. Evoke's shares have fallen by 90% since the William Hill acquisition. Market Reaction and Future Outlook Shares in London-listed Evoke soared by more than 12.5% in early trading as investors welcomed the takeover deal. Evoke has net debt of about £1.8bn and a market value of just over £180m. The Evoke chief executive, Per Widerström, has previously said that the changes in gambling tax would cost the business up to £135m a year. Mark Summerfield, the chair of Evoke, said the deal represented “the most attractive and deliverable outcome for Evoke shareholders”. The Future of Evoke and Bally's Intralot Soo Kim, the chair of Bally's, said that Intralot was confident the deal would “deliver substantial benefits for both Intralot and Evoke shareholders”. Intralot provides technology for 12 state lotteries in the US and has operations in Europe, South America, north Africa, south-east Asia, Australia and New Zealand.

The LeadFormer England footballer Gary Lineker's media production company Goalhanger has been crowned the UK's fastest-growing business, according to the latest Sunday Times list of the 100 quickest-growing private companies. The company, which produces popular podcast series including 'The Rest is History' and 'The Rest is Politics,' achieved remarkable growth with £37.9m in sales in 2025, representing an average annual growth rate of 321% over the past three years.The Podcast EmpireGoalhanger has built a diverse media portfolio centered around its 'The Rest is …' podcast series. This includes 'The Rest is History' hosted by historian Tom Holland and journalist Dominic Sandbrook; 'The Rest is Entertainment' featuring Richard Osman and Guardian columnist Marina Hyde; Lineker's own 'The Rest is Football'; and 'The Rest is Politics' hosted by Rory Stewart and Alastair Campbell. These podcasts exploded in popularity following the coronavirus pandemic and now collectively boast more than 750 million listeners worldwide.The Financial BreakthroughDespite employing just 80 people at its London headquarters, Goalhanger has demonstrated exceptional financial performance. The company has boosted its revenue through paid subscriptions and events, reaching a milestone of 250,000 paid subscribers in January 2026. These subscribers generate approximately £15m in annual revenue for the company. The financial success has attracted significant investment, including a minority stake purchase by Los Angeles-based investment firm The Chernin Group in January 2026.The Media Industry TransformationGoalhanger's rise reflects a broader shift in the UK media landscape toward digital-first content creation and distribution. The company's success demonstrates how former public figures can leverage their expertise and audience reach to build substantial media enterprises. Additionally, Goalhanger's expansion into venture capital, with investments in creator-led media businesses like Invisible Media and Backyard Cricket, signals the company's ambition to shape the future of creator-driven media in the UK and beyond.The Future OutlookWith strategic partnerships including a £14m deal with Netflix to broadcast 'The Rest is Football' during the World Cup, Goalhanger is positioned for continued growth. The company's venture capital arm and existing subscriber base provide a solid foundation for expansion into new markets and content verticals. As the UK's fastest-growing business, Goalhanger exemplifies the potential of podcasting as a dominant media format, with further international expansion likely as the company capitalizes on its proven business model and growing global audience.

The NAO Report on Royal Property ArrangementsThe National Audit Office (NAO) has released a comprehensive review of royal property arrangements, exposing a complex landscape of financial dealings that differ significantly based on the tenant's role and the property's management status. The report details how the Prince of Wales and Princess of Wales secured a lease on Forest Lodge, while simultaneously revealing how Prince Andrew utilized his lease at Royal Lodge to generate private income through subletting, all while paying a nominal "peppercorn rent" to the Crown Estate.Prince Andrew's Subletting Strategy at Royal LodgeThe most contentious finding involves Prince Andrew's tenure at Royal Lodge, the Windsor estate he occupied until recently. Despite paying a nominal rent, the report confirms he sublet three cottages on the property. Sources indicate these sublets were likely structured to cover maintenance and staff costs rather than generate significant profit, but the lack of public figures on rental income versus expenses has fueled public criticism.Lease Terms: Andrew paid a £1m premium and £7.5m on refurbishments under a 75-year lease.Current Status: Following eviction by King Charles, he has moved to Marsh Farm on the Sandringham Estate.Potential Compensation: He could be entitled to between £301,967.66 and £488,342.21 if he surrenders the lease early, though the Crown Estate claims dilapidations may negate this.The Financial Breakdown of Royal LeasesThe report highlights a tiered system of rent payments across the royal family, distinguishing between properties managed by the Crown Estate and those managed by the Royal Household. For working royals, "adjusted rent" is often applied to account for security vetting requirements.Prince William and Catherine: Pay £307,200 annually for Forest Lodge, with no upfront premium, though they are responsible for internal refurbishments.Princesses Beatrice and Eugenie: Pay "adjusted rents" ranging from 60% to 68% of open market value for their palaces, which the report notes covers the costs met by the Sovereign Grant.Prince Edward: Pays a peppercorn rent for Bagshot Park and previously generated income by renting out the stable block.Transparency and Public Perception in the MonarchyThe disparity in rent arrangements has triggered a political response, with Norman Baker criticizing the arrangements as an "insult to injury." The report reveals that while the Crown Estate applies standard commercial practices, the Royal Household manages properties at no cost to tenants who perform official duties. The public outcry following the revelation of Andrew's peppercorn rent has prompted the Commons public accounts committee to launch an inquiry into these property arrangements.Future Outlook: Reforming Royal Property ManagementWith the Commons inquiry underway, the monarchy faces increasing pressure to standardize its property management practices. The NAO's findings suggest that while current arrangements are legally defensible and often financially neutral for the taxpayer, the perception of favoritism and lack of transparency regarding private income generation from royal assets remains a significant vulnerability for the institution.

The Harsh Reality of China's Gig Economy Hu Anyan's memoir, 'I Deliver Parcels in Beijing', began as a blog and became a bestseller in China, selling nearly 2 million copies. It chronicles his experiences as an internal migrant, working 19 jobs in six cities over 20 years, often in terrible conditions and for very low wages. A Life of Unskilled Labor Hu's jobs included security guard, hotel waiter, delivery driver, bicycle salesman, bike courier, gas station attendant, and logistics warehouse worker. He notes that many new recruits fail to make it through the three-day unpaid trial period. The Dehumanizing Reality Translated by Jack Hargreaves, Hu's book conveys the dehumanizing reality of working long shifts on little sleep and often going without food for eight hours at a time. The audiobook, narrated by Winson Ting, is a grim indictment of a shocking system and the cost of our culture of convenience. Further Listening Recommendations Maybe I'm Amazed by John Harris, a moving account of his bond with his autistic son and their shared love of music. Creation Lake by Rachel Kushner, a novel about an American spy who infiltrates a group of ecowarriors in France.

Apple’s $1.4 Trillion App Store Milestone Ahead of WWDCApple used its annual ecosystem briefing to reveal that the App Store generated $1.4 trillion in developer billings and sales in 2025, up from $1.3 trillion the previous year. The company highlighted that 90% of that value came from transactions where developers paid no commission.Annual App Store Ecosystem Update Highlights Growth and Commission StructureThe briefing emphasized the breadth of the platform, noting that the App Store supports both physical‑goods services and digital content. Apple positioned its commission model—ranging from 15% to 30% on digital in‑app purchases—as a modest slice of the overall pie.Financial Breakdown Shows $1.1 Trillion Physical Goods, $149 Billion Digital Sales$1.1 trillion in sales of physical goods and services$149 billion in digital‑goods billings, subject to the 15‑30% commissionIn‑app advertising revenue reached $151 billion, a slight rise from $150 billion in 2024Average weekly users: 850 million across 175 countriesImplications for Developers, AI App Surge, and Global Market ExpansionThe data signals a maturing ecosystem where physical‑service transactions dominate growth, especially in the U.S., Europe, and China. Notably, 40 of the top 100 apps in 2025 featured consumer‑facing AI capabilities, outpacing peers in billing growth. Apple also pointed out that App Store activity in China has more than doubled over six years, while U.S. and European billings have more than tripled.What Apple’s WWDC Might Reveal About AI Integration and Future Revenue StreamsAnalysts expect WWDC to include announcements on AI agents and a potential revamp of Siri, building on the strong performance of AI‑enabled apps. If Apple expands AI tooling within the Store, developers could see new monetization pathways, potentially reshaping the commission landscape and further boosting the platform’s financial footprint.

The Passing of a Literary IconMarjane Satrapi, the French-Iranian artist, film-maker and graphic novelist whose acclaimed memoir Persepolis helped reshape international perceptions of Iran, has died at the age of 56. In a statement provided to French news agency AFP, relatives said she had "died of sadness" after the death of her husband, the Swedish producer Mattias Ripa, who passed away on 8 April last year.A Life of Art and ResistanceBorn in 1969 in Rasht, Iran, near the Caspian Sea, Satrapi was raised in Tehran by her father, an engineer, and her mother, a dress designer. As a teenager, she left Iran after her parents sent her to Europe to continue her education, hoping to spare her from the restrictions imposed under the Islamic Republic. She eventually settled in France, arriving in 1994 and later becoming a French citizen in 2006.Throughout her life, Satrapi was a vocal opponent of Iran's clerical establishment. In 2000 she published Persepolis, a comic book memoir that became an international publishing phenomenon. It told the story of a rebellious and outspoken young girl navigating the upheaval in Iran after the shah is overthrown in 1979 and the establishment of the Islamic Republic.The Impact of PersepolisThe memoir sold millions of copies, established Satrapi as one of the most widely read Iranian authors in the world, and its success challenged many western assumptions about Iranian society and culture. Satrapi later co-directed the animated film adaptation of Persepolis, which became an international hit and earned her a place in Oscar history as the first woman nominated for the Academy award for best animated feature.Satrapi has described how she initially had little expectation that Persepolis would reach publication. At the time, she was still an arts student in Strasbourg and had relatively limited professional experience in comics. "With Persepolis, I didn't even think I'd find a publisher," she said in a 2020 interview. "I thought I'd make 50 photocopies for my friends to read."A Voice for Iranian WomenSatrapi went on to direct five feature films, including Radioactive (2019), starring Rosamund Pike as the pioneering scientist Marie Curie. After leaving comics for years, in 2024, she returned to the medium, coordinating Woman, Life, Freedom, a collaborative graphic work bringing together 17 Iranian and international comic artists alongside academics and researchers. The book examined the protest movement that emerged after the death in custody of Mahsa Amini, a 22-year-old Kurdish-Iranian woman detained in 2022 for allegedly failing to comply with Iran's mandatory headscarf rules.Discussing the book, Satrapi said: "The only thing I can do is cultural work ... This book is a message to the Iranian people to say, listen, you are not alone."A Legacy of Freedom and ExpressionTributes have been paid to Satrapi from across French politics and culture following news of her death. President Emmanuel Macron said Satrapi was "a great artist who turned her Iranian childhood into a universal tale," adding: "With her childlike perspective, her irony, her tenderness, her inner demons, the author created a moving world with which readers identified."French journalist Tristane Banon paid tribute to Satrapi on X, writing: "Marjane ... you won't call me to wish me a happy birthday and 'celebrate those little cheeks that I adore'... and I can't get over it. You were freedom and determination. Courage too. One day, the Iranian people will be free, with you and as much as you."

FIFA announced on Thursday that reusable water bottles up to 1 litre will be prohibited inside all 2026 World Cup venues, citing safety risks after a last‑minute amendment to the stadium code of conduct.Safety‑Driven Revision of the Stadium CodeThe governing body reversed a policy from the previous month that had allowed empty, transparent bottles. The updated code, effective from Tuesday, now bans “bottles, cups, jars and cans” to prevent objects being thrown at players or spectators.Numbers Behind the Ban: Bottle Limits and Expected TemperaturesMaximum allowed bottle size before the ban: 1 litre (1 quart)Projected match‑day temperatures at host venues: 26 °C to 28 °C (79 °F‑82 °F)World Cup dates: June 11 – July 19, 2026FIFA estimates that hydration stations will need to serve roughly 150 million cups of water across the tournament, a figure derived from an average of 80,000 spectators per match.How the Ban Reshapes Fan Experience and Stadium OperationsFans expressed concern over limited access to drinking water in high heat. In response, FIFA pledged “hydration stations, misting zones, cooling tents and fixed hydration breaks” for every game. Pricing for bottled water will stay “consistent with other events,” but the ban may increase reliance on paid concessions.What the Policy Signals for Future Mega‑EventsThe decision underscores a growing trend of security‑first policies at large‑scale sporting events. Organisers of future tournaments are likely to embed similar restrictions into venue contracts, balancing fan comfort with liability mitigation.

The Grand Slam and the Road to RecoveryJonas Vingegaard has achieved the rare feat of winning all three Grand Tours, joining an elite club of cycling legends that includes Eddy Merckx, Chris Froome, and Felice Gimondi. The 29-year-old Dane’s victory in the Giro d'Italia is a testament to his resilience, coming just over a year after a life-threatening crash in the Basque Country that left him with broken ribs, a punctured lung, and a sternum injury. "It is a special day for me," Vingegaard said, showing rare emotion as he paid tribute to his family. "It’s way more than I could ever dream of when I was a kid."A Dominant Performance in the Absence of RivalsVingegaard’s win was characterized by a crushing margin of over five minutes, securing five summit finishes along the way. While the field lacked the usual firepower of Tadej Pogacar, Remco Evenepoel, and Paul Seixas, the victory was still significant. Austrian climber Felix Gall noted that Vingegaard was "clearly on a different level," suggesting that even without his main competition, the Dane remains the benchmark for the sport.Statistical Dominance Over the Last 11 MonthsVingegaard's consistency over the past year has been staggering. He has finished second in the Tour de France, won the Vuelta a España, and secured victories in Paris-Nice, the Volta a Catalunya, and now the Giro d'Italia. This string of results places him among the most consistent performers of his generation, though the absence of Pogacar in Italy skews the statistical landscape slightly.Shifting Dynamics in the Pro PelotonThe race also marked a transition for other teams. Geraint Thomas took on a new role as director of racing for the Netcompany Ineos team, while their Dutch leader Thymen Arensman finished fourth but struggled in the final mountains. The absence of the sport's biggest stars in Italy highlights the strategic importance of the Tour de France, where the stakes are highest and the competition is fiercest.The Ultimate Test: Tour de France 2026As the cycling world turns its attention to Barcelona in July, the narrative remains centered on the Vingegaard vs. Pogacar rivalry. With Pogacar and Evenepoel training at altitude in Spain, Vingegaard faces a stiffer challenge than he encountered in Italy. While a third Tour win is a realistic possibility for the Dane, it will likely require a dip in form from the Slovenian superstar to secure the top spot on the podium.