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Happy Monday. Finally a fun AI hacking story in the midst of some of the more terrifying examples.

A gentleman in Melbourne, Australia outsourced the chore of booking a place in his popular local pilates class to an AI agent. Only problem was that the class was full and the AI wasn’t having that. The agent managed to exploit a vulnerability in the gym’s website and removed a user from the class to fill their spot. What’s more, it managed to pre-book the class months in advance before slots even opened.

MARKETS

FTSE 10010695.25
-0.41%
FTSE 25024261.14
-0.94%
GBP/EUR€1.1625
-0.33%
GBP/USD$1.3229
-1.20%
S&P 5007,743.41
-0.27%

Notable UK earnings this week: JD Wetherspoons (JDW), Tullow Oil (TLW), Redcentric (RCN), Close Brothers (CBG), Saga (SAGA).

Notable US earnings this week: Micron (MU), Accenture (ACN), Nike (NKE), CarMax (KMX).

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PROJECT WATCH

🔌 Installation starts for underground link between Orkney and UK mainland. Read more

🛣️ Newark Bypass job comes back to market worth £700m. Read more

BUSINESS & FINANCE

INEOS mothball three Hull plants
Industrial giant Ineos has paused production at three plants in Hull, blaming punishing UK gas prices for forcing its hand. The firm says gas in the UK is around 12 times dearer than in the US and eight times the cost of the coal-based processes used by Chinese rivals — which, while not good, feels hard to argue with.

Ineos Acetyls, part of the wider Ineos Group, is Europe’s only producer of a set of key chemicals used in everything from food and medicines to explosives. That means the knock-on effect is not just industrial navel-gazing: these materials feed into everyday products such as vinegar, paint, glue, aspirin and even solvents used to decaffeinate tea and coffee. So yes, if you drink decaf, you might have one more problem.

The company said up to 1,000 staff could be affected, including 245 directly employed at the Hull site, though workers are expected to remain on the books while Ineos looks to buy liquefied natural gas directly from the US at lower prices. That could take up to a year, assuming the market stops behaving like a pantomime villain first. Two of the plants have already been switched off, with the third due to follow in the coming days.

Manchester City saga rumbles on
Premier League clubs are now reportedly taking legal advice over compensation after Manchester City were found guilty of the vast majority of 115 alleged breaches of financial rules. In other words, this is football’s version of opening Pandora’s box with a lawyer standing by and a very stern expression.

The Athletic reported last week that 114 of the 115 charges were upheld, in a development that landed 1,327 days after City were first charged by the Premier League in February 2023, following a four-year investigation.

City had been accused of a wide range of breaches, including claims they inflated sponsorship revenue from connected companies and made other payments “off the books” to sidestep financial regulations. If true, it would make the whole affair less a game of football and more a very expensive accounting thriller.

POLITICS

Empty homes, easy targets
Long-term empty homes are getting a nudge back towards civilisation. Councils will be able to use Empty Dwelling Management Orders after six months of vacancy, rather than two years, and face fewer hurdles when applying. Owners keep the property while councils can manage it for up to seven years. Less sitting empty, more sitting room.

Social media, social shift
Under-16s will be barred from social media from March, culture secretary Lisa Nandy announced at Labour conference. The government says the UK will be pioneering comprehensive online protection for children. Whether teenagers greet this as “an amazing force for good” remains, naturally, to be seen.

Avanti, arrivederci
Avanti West Coast is heading into public ownership in March 2027, with the government ending its current private contract early. Labour says the move will put passengers before shareholders, backed by planned spending on signalling, power, reliability and Euston. Avanti, meanwhile, says it has already improved trains and services. The railway saga continues, now with a new conductor.

ACROSS THE POND

Xi state visit to Washington
Chinese leader Xi Jinping has wrapped up his first formal trip to Washington in 11 years, after three days of ceremonial handshakes, polished smiles and just enough diplomatic theatre to keep the cameras busy. President Donald Trump rolled out a rare airport tarmac welcome, the pair shared a state dinner and tea with their spouses, and even took a turn at the National Archives — all very grand, very choreographed, very much politics with the collar pressed carefully into place.

For all the pageantry, though, the substance was a touch more thin gruel than grand banquet. The two sides extended an existing trade pact and Xi promised a pair of pandas for Atlanta, which is certainly one way to improve international relations: adorable wildlife, timeless strategy. But there were no firm commitments on Chinese purchases, no breakthrough on AI risks, and no fresh answers on the war in Iran or other global headaches that refuse to pack their bags and go home.

The timing may have suited Trump, who is said to prefer a calm surface ahead of the midterms; heaven knows markets can be skittish enough without a superpower squabble thrown into the mix. But analysts say the shorter trade extension — running only until 10 January — leaves plenty of room for future leverage, and possibly future bother. The next meeting could come at APEC in Shenzhen in November, then again at the G20 in Miami in December, so this drama is only on a tea break.

News outlets allowed back into White House after Trump ban
The White House has begun letting journalists from CNN, MS NOW and Politico back in after a federal judge told Donald Trump’s administration to restore their access immediately. Not exactly a triumph of subtlety from the court of “you can’t just boot out reporters because you don’t like the headlines”, was it?

Judge Timothy Kelly’s temporary restraining order, which lasts at least 14 days, found Trump’s ban was likely to be unlawful. In plain English: the White House tried to slam the door, and the judge basically said, “not so fast, sunshine.”

The outlets had been locked out since Saturday, the day after Trump announced the ban, saying they were being punished over “cumulative stories” he claimed contained lies about him and his administration.

TECH

Rogue robots
An OpenAI agent breached an Australian government statistics portal, accessing public and non-public files linked to Medicare data. It OpenAI says it only spotted the “misaligned” activity in August, then took weeks to alert officials. No personal information is believed to have been accessed, but Australia is investigating possible wider impacts. Turns out “just having a look” remains a risky phrase when the browser has agency.

FBI Files, allegedly filched
Hackers calling themselves ShinyHunters claim they stole personal details of around 38,000 FBI staff, including names, addresses and job information. The FBI is investigating whether its systems—or a third-party provider—were breached, while the group threatens to publish the data unless an earlier FBI warning about them is withdrawn.

Welsh web wobble
Dyfed-Powys Police has suffered a cyber attack that disrupted some non-emergency systems and briefly knocked out online and email contacts. The force says there is no evidence public data was accessed, though staff information may have been compromised. Investigators and the ICO are now involved. Even the police have discovered that “have you tried turning it off and on again?” is not a complete cyber-security strategy.

WORLD

Presidential plot twists
Serbia’s Aleksandar Vučić has resigned after years at the centre of the country’s politics and months of student-led protests over alleged corruption. The move clears the way for early presidential and parliamentary elections; Vučić cannot seek a third presidential term but plans to run for prime minister. Parliament speaker Ana Brnabić will serve as interim president.

Betting ban bonanza
Brazilian President Luiz Inácio Lula da Silva has banned online fixed-odds betting, just over a week before the presidential election. The order stops new deposits and gives gamblers until 5 October to withdraw funds, though Congress must approve it within 120 days. Lula says betting is fuelling household debt; football clubs and the betting industry warn of lost sponsorship and revenue.

Venezuela’s prison pivot
Venezuelan authorities have released dozens of prisoners, including people rights groups classify as political detainees, days after interim President Delcy Rodríguez met Donald Trump. The releases revive calls for elections, which Rodríguez has promised but not dated. Rights groups say previous releases stalled before all political prisoners were freed.

The Teapot Weekly Quiz
There’s still tea in the pot…

What is the largest bone in the human body?

Word of the Week:
moot

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