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September ends ⏰
🫖 The Teapot Newsletter
Good morning. Today is the last day of Q3, as we roll into October tomorrow it means it’s worth checking in on those new years resolutions from a while back. Nope, not really. It does mean there’s only a three months before your Spotify wrapped is ready though, so make sure you have some trendy artists on repeat between now and then to impress your gaggle of internet strangers.
Yesterday we picked up a temporary guest too, a second moon will join us for about 57 days or so. A tiny asteroid, adorably named 2024 PT5, from the Arjuna asteroid belt, usually orbits the sun but couldn’t resist a few laps of the Earth this year. Welcome, 2024 PT5!
MARKETS
FTSE 100 | £8,320.76 | +0.74% |
FTSE 250 | £21,240.56 | +1.90% |
AIM | £745.65 | +0.18% |
GBP/EUR | €1.1972 | +0.36% |
GBP/USD | $1.3371 | +0.44% |
Data: Google Finance, 7-day Market Close
📈📉
PROJECT WATCH
🔌 North Ayrshire set for UK’s first HVDC cable factory. Read more
🚰 Suppliers named for £3.7bn Wessex Water framework. Read more
⚡ Construction starts on UK’s ‘biggest ever’ electricity transmission project. Read more
ECONOMY & FINANCE
Ministry of Defence, for when the chips are down
In a rare twist of government intervention, the Ministry of Defence (MoD) has swooped in with a £20m bailout to rescue a microchip factory from the brink of closure. The Coherent facility in Newton Aycliffe, County Durham, which was teetering on the edge after losing a massive contract with Apple, can now exhale a sigh of relief. Over 100 jobs have been salvaged, giving local employment stats a much-needed boost.
Defence Secretary John Healey, playing the role of economic superhero, justified the rescue, stating that the plant's unique capabilities can't be surrendered to fate or foreign hands. “This plant does something no-one else in the UK does”, he said, drawing back the curtain on the country's crucial microchip-making secrets. Renamed as Octric Semiconductors UK, the factory now embarks on a new chapter, hopefully ditching its history of tumultuous ownership changes.
This facility, which marked its debut in 1991 under Japanese giant Fujitsu, had once promised hundreds of jobs, only to close its doors in 1998, leaving behind a trail of disappointed workers. Fast forward to today, and it’s clear that the factory’s rollercoaster ride isn't over yet. Stay tuned a nationalised fish factories.
EV car production stalls as 2030 ban looms
Despite the impending 2035 deadline to phase out combustion engines, UK electric car production has fizzled, plummeting over 25% last month, according to the Society of Motor Manufacturers and Traders (SMMT). Seems like the industry's electrifying ambitions have run out of juice.
The situation is rather shocking (pun intended), with Jaguar Land Rover’s (JLR) head honcho, Trevor Leeks, calling for turbocharged efforts in EV infrastructure. The Halewood plant on Merseyside recently bagged a £500 million investment in electric vehicle production, but it appears more than a monetary jolt is needed.
Adding to the woes, electric cars still cost a pretty penny compared to their fossil-fuelled cousins, making buyers think twice. Former PM Rishi Sunak’s five-year delay to the 2035 sales ban may have added some breathing room, but it hasn’t exactly revved up the market.
POLITICS
Winter fuel payment cuts spark pension credit surge
As the Labour government’s controversial move to means-test winter fuel payments takes effect, pension credit applications have soared. Over 74,000 claims were made in the past two months, a sharp increase from previous figures. Labour’s defence? The party says it’s a necessary step to fill the £22bn fiscal hole left by the Tories, while critics, including Unite, accuse the government of sparking a second wave of austerity.
Idris Elba & Keir Starmer join forces against knife crime
Actor Idris Elba and Prime Minister Keir Starmer have announced a Coalition Against Knife Crime, bringing together campaigners, families of victims, young people, and the police. Elba, a long-time anti-knife crime advocate, stressed the importance of addressing root causes, while Starmer reflected on his past as Director of Public Prosecutions, where he witnessed the devastating effects of knife violence. The coalition will focus on both prevention and rehabilitation, with the first-ever Knife Crime Summit expected to become an annual event.
Labour closes 'Tory Loophole' in gift declaration rules
Labour is cracking down on ministerial transparency by closing a ‘Tory loophole’ that allowed ministers to avoid declaring hospitality and gifts under the same rules as backbench MPs. Pat McFadden, Chancellor of the Duchy of Lancaster, announced the change following controversy surrounding donations and freebies accepted by political figures. Now, both ministers and shadow ministers will be held to the same standards, ensuring more robust scrutiny.
Austria’s far-right takes the lead
In Austria’s general election, the far-right Freedom Party, led by Herbert Kickl, has clinched first place with 29.1% of the vote. Kickl, known for his controversial rhetoric, including a push to suspend asylum rights and create “fortress Austria”, will now seek coalition partners to form a government. However, many political rivals have refused to join forces with him. His party’s anti-immigration stance and opposition to sanctions against Russia have drawn criticism, but rising anxieties over the economy and the war in Ukraine have boosted his support. Whether he can govern or not, Austria’s political landscape has certainly taken a hard-right turn.
ACROSS THE POND
Three Mile Island to bring back nuclear power for Microsoft
Three Mile Island, the US site infamous for its 1979 nuclear meltdown, is set to reopen by 2028 to help Microsoft with its insatiable appetite for clean energy to power its AI ambitions. Clearly, AI doesn’t just eat data; it also munches on megawatts.
Constellation Energy’s Unit 1 reactor, mothballed in 2019, has been given a second lease of life, pending approval from the Nuclear Regulatory Commission. Microsoft, aching to decarbonise faster than you can say “global warming,” will exclusively purchase the reactor’s carbon-free output to fuel its power-guzzling data centres.
Reviving Unit 1 aims to spark 3,400 jobs and pour $16 billion into Pennsylvania’s GDP, proving once again that nothing says economic growth like a blast from the nuclear past. With the UK grappling with energy crises, maybe we could take a leaf out of their radioactive book.
Shares of Constellation (CEG) spiked over 16%—a glow-up fitting for a reactor revival. Industry insiders and tech behemoths alike are paying more attention to nuclear energy to keep up with AI’s relentless demand. It seems the tech greats don’t just need algorithms; they need atom-splitting action too.
A message to you, Rudy
Rudy Giuliani, once considered a stalwart crime-fighter, has been permanently disbarred from practising law in Washington DC. The sanction follows his attempt to overturn the 2020 presidential election in favour of Donald Trump, a move that’s resulted in a legal battering ultimately destined for a Netflix series.
The ruling, effective back to August 2021, comes after his suspension and the DC bar’s board of responsibility citing “unethical conduct” over false claims during Pennsylvania’s election disputes. Turns out even the land of the free has its limits.
TECH
UK parents unite in a 'no-smartphone' pact that's sweeping the nation faster than a Year 9 after the last bell rings. Parents from over 6,500 UK schools have joined forces, pledging to withhold smartphones from their kids until they’re at least 14. This initiative, led by Smartphone Free Childhood, is essentially a solidarity movement—because when one parent says “no”, it’s peer pressure, but when a whole classroom of parents does it, it’s a revolution. Brick phones are suddenly cool again (retro, darling), and Hertfordshire is leading the charge with over 2,400 sign-ups. St Albans might even become the first UK city where under-14s are totally smartphone-free.
Zuckerberg’s makeover
Over at Meta HQ, Mark Zuckerberg is busy reinventing both himself and the company, swapping hoodies and Caesar haircuts for a new “Zuck or nothing” swagger. At Meta’s Connect event, he flaunted the Orion AR glasses—his latest play for the future. These sleek specs might look like normal glasses, but they can project digital content right into your field of vision. Meta is positioning these as “the most challenging consumer electronics device since the smartphone,” and with competitors like Apple hot on their heels, it seems the AR glasses race is officially on.
But that’s not all. Meta’s AI has learned a new trick: Lip-Syncing Translation. The new tool lets AI match lip movements to dubbed audio, making global content more accessible. Fancy watching a French Reel but can’t speak the lingo? No problem—AI will sync the audio with perfect lip movement, and for added flair, you can pick a voice like John Cena or Dame Judi Dench.
Cyber vandalism strikes UK rail stations
19 of the UK's busiest train stations had their Wi-Fi hijacked this week in what cybersecurity experts are calling "Opportunistic Hacktivism”. Passengers attempting to log on were met with politically charged messages rather than their favourite cat videos. Network Rail quickly pulled the plug. Fortunately, no personal data was compromised, but the incident serves as a sharp reminder that even our train station Wi-Fi isn’t safe from cyber shenanigans. Next time you’re at a station, maybe skip the free Wi-Fi—if you’re not part of the smartphone-free movement, that is.
AI Investment takes the north east by storm
The north-east of England is about to become the new capital of artificial intelligence (AI) with a £10bn Data Centre set to rise from the ashes of the Britishvolt site in Cambois. The massive investment, led by Blackstone, is predicted to create around 4,000 jobs, making it one of Europe’s largest AI hubs. Prime Minister Sir Keir Starmer hailed this as a “gamechanger” for the region, describing the project as a “huge vote of confidence” in the UK. Construction is expected to kick off next year, and Northumberland could soon be leading the AI revolution—who knew the future of tech was hidden in the countryside?
WORLD
Myopia in children on the rise in a screen-heavy world
More than one in three children worldwide are now shortsighted, and experts say screen time is to blame. The rise of myopia, or nearsightedness, is causing concern, especially with estimates suggesting over 740 million cases by 2050. With kids glued to devices, the close-up focus increases their risk of myopia, especially if they’re not spending enough time outdoors. Health experts recommend cutting down on screen time (sorry, TikTok fans!) and making sure children spend at least 14 hours a week outside to slow myopia’s progression. Time to swap those screens for some fresh air!
Japan’s new PM
Shigeru Ishiba, Japan’s newest prime minister, has finally landed the top job after five tries. The 67-year-old former defence minister is set to take office next week, bringing a more moderate voice to the ruling Liberal Democratic Party (LDP). Known for his geeky love of model warplanes and 70s pop, Ishiba faces tough challenges—from a cost-of-living crisis to growing tensions with China and North Korea. He’s also looking to win back public trust after months of scandal and infighting within the LDP. With his focus on renewable energy and empowering women in the imperial line, Ishiba is something of a wildcard within his party, but his popularity with the public might just be what Japan needs.
SpaceX to the Rescue: stranded astronauts await return
It’s been a long, unexpected stay on the International Space Station for astronauts Sunita Williams and Barry Wilmore, who’ve been stuck in orbit since June due to a thruster failure on Boeing’s Starliner. Originally slated for an eight-day mission, the duo have now spent months aboard the ISS, with a rescue finally in sight. SpaceX launched its Crew Dragon on Saturday from Cape Canaveral, set to retrieve the stranded astronauts in February. Until then, Williams and Wilmore remain upbeat, describing the ISS as their "happy place".
Cuppa Chat Cheat Sheet
⚖️🔐 Meta has been fined €91 million by the Data Protection Commission for storing user passwords in plaintext. The issue affected millions of Facebook and Instagram users but did not expose passwords to external parties.
📞💼 Revolut, Chase, and Modulr have joined the 159 phone service, aiding 99.2% of UK account holders in preventing scams. This collaboration increases the number of participating banks to 20, enhancing anti-fraud efforts across the UK.
🍣🐛 Chefs like Leonard Tanyag are incorporating insects such as mezcal-cured worms, flying ants, and grasshoppers into gourmet dishes, aiming to normalise edible bugs as a sustainable food source. Restaurants like Juno and Yum Bug in London are leading the trend, turning insects into high-protein, eco-friendly culinary delights.
🏏🇦🇺 Australia triumphed over England and the rain in the fifth ODI in Bristol, winning by 49 runs (DLS method) and securing a 3-2 series victory. Ben Duckett's century couldn't save England from their late batting collapse as Australia chased down the target to seal the win.
⚽️🔥 Tottenham outclassed 10-man Manchester United with a 3-0 win at Old Trafford, piling pressure on Erik ten Hag. Goals from Johnson, Kulusevski, and Solanke sealed Spurs' fourth consecutive victory, leaving United in the bottom half of the Premier League table.
🚗⚖️ A New Jersey couple cannot sue Uber for life-changing injuries from a 2022 crash due to arbitration clauses in the app's terms of use. The McGintys argue they were unaware their legal rights were waived, even citing their daughter unknowingly agreed while ordering food through Uber Eats.
💻🔒 Microsoft plans to relaunch its controversial AI-powered screenshot tool, Recall, in November with enhanced privacy features and an opt-in setting. The UK’s Information Commissioner’s Office will continue to assess the tool as it approaches launch.

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