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Starbucks's UK retail arm secured a significant £13.7m corporation tax credit last year, even as it reported a 6% increase in sales to £556.3m and added over 90 new stores, bringing its total to 1,304. The tax credit, which can be used to offset future tax bills, follows losses widening to £41.3m in the 12 months to September.The company's financial performance was impacted by £40m in royalty and licence fees paid to its parent company, Starbucks Emea. These fees, which are paid to a UK-based entity that collects similar fees from across Europe, the Middle East, and Africa, significantly contributed to the losses.Despite the losses, Starbucks UK's sales growth was driven by price increases, new loyalty schemes, and the introduction of “freshly baked in-store food”. The company also shifted its workforce towards full-time staff, reducing overall staff numbers by 244 to 5,352.Critics, such as the Fair Tax Foundation, argue that this situation highlights a recurring issue where large corporations like Starbucks use complex financial structures to minimize their tax liabilities. “This all feels so very Groundhog Day,” said Paul Monaghan, chief executive of the Fair Tax Foundation. “As per a decade ago, Starbucks UK reports annual growth in income and store numbers, whilst at the same time declaring a loss due to the payment of hefty royalty fees to other Starbucks subsidiaries. The end result, no corporation tax is paid.”In response, a Starbucks spokesperson emphasized the company's commitment to paying all taxes due, stating that it “manages its global tax responsibilities in keeping with its mission and values.”The company's financial challenges are expected to continue, with Starbucks UK citing a “challenging consumer environment” characterized by inflationary pressures, reduced discretionary spending, and increased competition. The company has received financial support from its parent group, including £30m in cash to keep the business afloat and a further £60m in February.

While holiday‑makers flocked to Lancashire’s coast for fresh sea air, residents of the former fishing port of Fleetwood were forced to endure a persistent, noxious odor emanating from the reopened Jameson Road landfill.The stench, identified as hydrogen sulphide – a toxic gas with a characteristic rotten‑egg smell – has been linked to the landfill’s re‑activation by recycling firm Transwaste in late 2023 after a five‑year closure.Local authorities report that the Environment Agency (EA) has received more than 20,000 complaints since the site reopened, including 6,000 complaints in the last six weeks alone. In the two‑year period ending January, the EA recorded 74 compliance breaches at the site, a third of which were classified as “significant”.Health impacts are mounting. Residents describe symptoms ranging from retching and vomiting to nosebleeds, headaches, itchy eyes and aggravated respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). One resident, retired teacher Donna Davidson, reports that the smell has penetrated her home at night, describing it as “people are getting gassed in their beds”.Children are also affected; Dave McPartlin, headteacher of nearby Flakefleet Primary School, says pupils are refusing to play outside because the odor “lingers” even on sunny days. A family staying in an autism‑friendly caravan described their child’s severe nausea, calling the experience “hell”.Medical professionals are sounding the alarm. Dr. Barbara Kneale, a GP and occupational‑medicine consultant living a mile from the landfill, says the community feels “treated with contempt” by public agencies and is gathering detailed hydrogen sulphide readings to bolster a campaign for permanent closure.Local political pressure is intensifying. MP Lorraine Beavers used parliamentary privilege to label Transwaste “crooks” evading accountability, pledging to fight until the site is shut down. In response, Transwaste denied the allegations, insisting it complies with all regulations and attributing odour issues to the site’s re‑opening process.Wyre Borough Council, the landfill’s landlord, warned that legal action would only proceed if residents provide detailed diaries and allow council officers to witness the odour inside homes.Community activism has grown, with over 100 locals staging a slow march to the landfill, many using walking frames and face masks. Campaigners, including Davidson and Kneale, are also tracking the origins of waste trucks, which have been traced to locations as far as Dover, Dunfermline and Hull.The EA has pledged further enforcement, stating that “the community should not have to tolerate odours that affect their environment” and that it is pressing the operator to install permanent capping to prevent future emissions.As Fleetwood grapples with what residents call an “abomination”, the dispute highlights broader concerns about landfill management, air‑quality standards and the disproportionate impact on deprived communities with already high rates of respiratory illness.

At least 50 new accounts on Polymarket, a prediction market platform, made substantial bets on a US-Iran ceasefire on Tuesday, resulting in profits of hundreds of thousands of dollars. These bets were placed despite escalating rhetoric from Donald Trump and few signals of an imminent deal.An analysis of blockchain data shows that one wallet, created on Tuesday at 10am ET, placed roughly $72,000 in bets at an average price of 8.8¢ and cashed out for a profit of $200,000. Another wallet, which joined the platform on April 6, won $125,500.The trading pattern of newly created accounts placing strategic, well-timed bets has raised questions about insider trading and the need for regulation in prediction markets. Bipartisan groups of senators and representatives have introduced legislation to broaden the definition of insider trading to include prediction markets.“This is why these markets need regulation,” said Todd Phillips, a professor at Georgia State University. “We can’t have people trading with inside information and expect other traders are going to be OK being in these markets.”Polymarket and other industry players, including Kalshi, have acknowledged the need to broaden the definition of insider trading on their platforms.

Databricks Co‑Founder Secures Prestigious ACM PrizeMatei Zaharia, co‑founder and CTO of Databricks, learned on April 8, 2026 that he had won the ACM Prize in Computing. The surprise announcement highlighted his decades‑long influence on big‑data processing and the emerging AI ecosystem.From Spark to AI Foundations: Zaharia’s Technical JourneyWhile completing his PhD at UC Berkeley under Ion Stoica in 2009, Zaharia released Apache Spark as an open‑source project that dramatically accelerated big‑data workloads. Spark became the engine that powered the early data‑science wave, and its success seeded the creation of Databricks, which has since evolved into a cloud‑native AI and data platform.2009 – Spark open‑source launch2013 – Databricks founded2026 – ACM Prize awardedFinancial Scale of Databricks and the ACM PrizeDatabricks has raised more than $20 billion in venture funding, reaching a valuation of $134 billion and a revenue run‑rate of $5.4 billion. The ACM award includes a cash prize of $250,000, which Zaharia intends to donate to an as‑yet‑undetermined charity.Funding: > $20 BValuation: $134 BRevenue run‑rate: $5.4 BACM cash prize: $250 KImplications for AI Development and Industry Perception of AGIZaharia’s bold statement—“AGI is here already”—challenges the conventional view that artificial general intelligence is a distant goal. He argues that current models already exhibit general‑purpose capabilities, but humans tend to judge them by human standards, which can obscure their true potential.He also warned about the security risks of AI agents that mimic trusted human assistants, citing the example of the “OpenClaw” agent that could inadvertently expose passwords or spend money without user consent.Future Outlook: AI‑Driven Research and Security ChallengesLooking ahead, Zaharia envisions AI becoming a universal research assistant—automating biology experiments, enhancing data compilation, and providing “AI for search” tailored to engineering and scientific inquiry. He stresses the need for robust security frameworks as AI agents become more autonomous.AI‑augmented research across biology, engineering, and data scienceEmphasis on non‑hallucinating, reliable modelsUrgent call for security standards for AI agents

Djibouti, a country with a population of less than a million people and no significant natural resources, has become a crucial hub for foreign military bases. The nation's strategic location at the entrance to the Red Sea, a vital maritime chokepoint through which roughly 12 percent of global maritime trade passes daily, has made it an attractive location for global powers.The country's President, Ismail Omar Guelleh, has leveraged Djibouti's strategic importance to advance his own aims, welcoming bases from the US, China, France, Japan, and Italy. These countries pay significant fees for the privilege of hosting their bases, with the US paying $65 million annually, France $30 million, China $20 million, and Italy and Japan over $3 million each.The Bab-el-Mandeb strait, a narrow corridor barely 30 kilometers wide, is a critical passage for global trade and communication cables. The region's instability, particularly with the US and Israel at war with Iran, has heightened Djibouti's importance. Federico Donelli, author of 'Power Competition in the Red Sea,' notes that Djibouti sits at the center of many global interests, including trade, shipping, and fiber optic connectivity.Djibouti's base-for-cash model is part of a broader development strategy, including significant infrastructure investment from Chinese firms and a new railway linking landlocked Ethiopia to the coast. However, the country's economic benefits have not trickled down to its citizens, with official unemployment near 40 percent and over one in five people living in extreme poverty.The opposition leader, Daher Ahmed Farah, has criticized Guelleh's rule, stating that the country's strategic position and hosting of military bases have not benefited the Djiboutian people. The US embassy has warned Americans to avoid areas near Camp Lemonnier, citing threats against US interests, while Finance Minister Ilyas Dawaleh has expressed concerns about the Iran war risks pushing Djibouti into deeper economic uncertainty.

The mockumentary, a once-thriving film genre, seems to be losing its luster. Charli XCX's 'The Moment' and 'Spinal Tap II: The End Continues' are recent examples of films that have failed to recapture the magic of their predecessors.Historically, mockumentaries were a staple of comedy, with directors like Christopher Guest and Rob Reiner pushing the boundaries of the genre. Films like 'This Is Spinal Tap' and 'The Rutles: All You Need Is Cash' remain classics, celebrated for their improvisational style and satirical humor.However, the current crop of mockumentaries seems stale, relying on celebrity cameos rather than genuine comedic innovation. Even 'Spinal Tap II,' starring Guest, feels like a nostalgia exercise, struggling to recreate the original's charm.In contrast, smaller, independent projects like 'Rap World' and 'Nirvanna the Band the Show the Movie' are breathing new life into the genre. These films, made on shoestring budgets, use mockumentary techniques to create authentic, humorous stories that resonate with audiences.The decline of the mockumentary genre raises questions about its future. Can it be revitalized, or has it become a relic of the past? Only time will tell, but for now, it seems that the mockumentary needs a fresh perspective to regain its former glory.

Bill Ackman's Pershing Square has unveiled a €55.75 bn cash‑and‑shares bid to acquire Universal Music Group (UMG), valuing the label at €30.40 per share – a 78% premium over the previous close of €17.10. The proposal translates to roughly $64.31 bn, positioning it as one of the largest recent takeovers in the entertainment sector. The offer is tied to a strategic plan to relocate UMG’s primary listing from Amsterdam to New York. A U.S. listing would broaden the investor base, potentially attracting index funds and enhancing liquidity, which Ackman argues could lift earnings and drive a higher market valuation. In a letter to UMG’s board, Ackman praised chairman‑CEO Lucian Grainge while criticizing what he described as an “underutilized balance sheet” and the company’s €2.7 bn investment in Spotify Technology. He suggested that a refreshed governance structure – including former Hollywood super‑agent Michael Ovitz as board chair and two Pershing Square directors – would better position the label for future growth. Market reaction was immediate: UMG shares jumped 13% on the news, while Bollore Group’s stock rose 5% and Vivendi’s shares climbed over 10%. Pershing Square currently holds a 4.7% stake in UMG, making it the fourth‑largest shareholder. Key shareholders whose support is essential include Bollore Group (18.5% stake), Vivendi (13.4%), and China’s Tencent. Notably, the Bollore family controls about 80% of UMG’s voting rights, giving it decisive influence over any transaction. Industry analysts point to several headwinds that have pressured UMG’s share price, which has fallen nearly one‑third since its 2021 IPO. Streaming growth is decelerating, and concerns about AI‑generated music – from copyright disputes to fully synthetic songs – are reshaping the competitive landscape. A recent survey found that 97% of listeners can differentiate between AI‑created tracks and human‑composed music. Despite these challenges, global music revenues continue to rise year over year, prompting major labels such as Sony and Warner Music to double‑down on streaming partnerships with platforms like Spotify, Amazon, Apple and Deezer. Under the proposed structure, Pershing’s SPARC Holdings would merge with UMG, creating a Nevada‑incorporated entity listed on the New York Stock Exchange. If approved, the deal could set a precedent for how legacy entertainment firms adapt to evolving technology and investor expectations.

The match between Lancashire and Northamptonshire saw Ben Sanderson thwarting Lancashire's chances with a crucial contribution to Northamptonshire's tail-end resilience.

Universal Music Group (UMG), the world's largest music company, has received a takeover offer from billionaire Bill Ackman's hedge fund, Pershing Square. The deal values UMG at over €50bn (£44bn). Pershing Square, based in New York, has offered a cash and stock deal to acquire the business, which is home to renowned artists such as Taylor Swift and Elton John.Ackman stated that while UMG, led by British-born Sir Lucian Grainge, has done an excellent job in nurturing its artist roster and generating strong business performance, its share price has lagged due to issues unrelated to the performance of its music business. He specifically mentioned the delay in UMG's US listing, underutilization of its balance sheet, and uncertainty around the French conglomerate Bolloré Group's 18% stake in the company.Shares in UMG, listed in Amsterdam since 2021, have lost more than a quarter of their value in the past year. The company is one of the 'big three' record labels, alongside Sony Music Entertainment and Warner Music Group, with a diverse roster ranging from classical music to stars like Adele, Drake, and Ariana Grande.Ackman also cited a 'lack of investor credit' in the company's valuation of its €2.7bn stake in the music streaming service, Spotify. Pershing Square, which Ackman established in 2004, controls over $26bn in assets and bought a 10% stake in UMG in 2021.As part of the proposed deal, Pershing Square would add Michael Ovitz, a veteran talent agent, as chair, along with two representatives from Pershing Square to UMG's board. The deal would also involve a new employment contract and compensation arrangement for Sir Lucian Grainge. Under the terms, UMG would merge with a blank-cheque company set up by Pershing Square and then list on the New York Stock Exchange. Shareholders would receive a total of €9.4bn in cash and 0.77 shares in the new company for every Universal share they own, representing a 78% premium compared to the company's closing share price on Thursday.