Tuesday, is gonna be the day 🎸

Teapot Tuesday. The inconvenience of the bank holiday means we’re joining you at your desk on Tuesday this week. With the imminent announcement of an Oasis reunion, we thought it wise to equip you with a couple of trivia tidbits for the Britpop brothers:

The Oasis album “Be Here Now” still holds the British record for the fastest-selling album in the first seven days of being on sale. Next closest is Adele’s album “25”, with “÷“ from Ed Sheeran in third.

Oasis paid damages, or included co-writer credit/royalties, to a number of other artists for likeness to their own existing songs - they sounded too similar. Two of the best-known are Shakermaker (“I’d Like to Teach the World to Sing”, by The New Seekers) and Whatever (“How Sweet to be an Idiot”, by Neil Innes). Enjoy comparing them all on Spotify.

The last one, if you leave an acoustic guitar in a youth hostel for 24 hours, you can be expected to hear Wonderwall played 215 times. There aren’t any studies to back this one up, but sounds about right?

MARKETS

Data: Google Finance, 7-day Market Close

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PROJECT WATCH

🏴󠁧󠁢󠁳󠁣󠁴󠁿 Three companies shortlisted for A9 contract in Scotland. Read more

🔌 Cable installation wraps up for UK-Ireland HVDC connection. Read more

💦 Southern Water names eight companies in £3.7bn spend on water infrastructure upgrades. Read more

🏗️ Partner secured to make Sunderland port the hub of North Sea decommissioning. Read more

ECONOMY & FINANCE

Banking boost for savers might be on the cards
Britain’s largest banks, still nursing a pandemic hangover, are scrambling to repay over £100bn in emergency loans handed out by the Bank of England. The race to return these funds might just work in favour of savers, as banks vie for their deposits with more attractive rates during this "messy" dash for cash.

Back in 2020, when lockdowns and loo roll shortages were the craze, more than 70 lenders—from high street giants like HSBC and Nationwide to digital upstarts like Starling Bank—borrowed a staggering £193bn under the Bank of England’s emergency Term Funding Scheme for Small and Medium-Sized Enterprises (TFSME). Now, with a looming deadline, they're scrambling to repay £100bn of the remaining loans within the next 18 months.

For the big fish like Barclays and Lloyds, who owe about £18bn and £30bn respectively, it’s all a matter of dipping into their existing pools. Meanwhile, smaller lenders might have to surf the costly wave of wholesale markets, bundle and sell off customer loans, or charm savers with juicy interest rates. HSBC’s banking sage, Robin Down, predicts an impending battleground for deposits.

Old-trepreneurs
There are now nearly a million self-employed Brits aged 60 or over - the silver foxes aren’t taking retirement lying down. According to Rest Less, there are now 991,432 self-employed golden oldies – a glitzy 33% increase in the past decade.

But it's not all tea and crumpets. While some are living their entrepreneurial dreams, others are forced into freelance life by the cost of living crisis, with state pensions providing them the comfort of a wet blanket. Yep, they’re hustling out of necessity, topping up pensions that just don’t cut the mustard anymore.

The total number of self-employed workers hit about 4.3 million in 2023, bouncing back from a pandemic plunge. And the over-60s make up a chunky 23% of this workforce – 49% if you include those aged 50 and over. Interestingly, 223,086 of these grafters are even over 70. Talk about a retirement plan that includes more spreadsheets than seaside walks.

POLITICS

Let’s start with the UK’s defence policy, where former NATO chief George Robertson has been tasked with charting a course for the nation’s security up to 2050. This comprehensive review, commissioned by Prime Minister Keir Starmer, aims to bolster the UK’s defence capabilities. From the ongoing conflict in Ukraine to the broader challenges posed by global instability and climate change, Robertson’s findings will guide the UK in ramping up defence spending to 2.5% of GDP by 2030.

London City Airport’s expansion takes off. On the domestic front, the government has given the green light to expand London City Airport, raising its capacity to 9 million passengers by 2031. However, in a nod to environmental concerns, it has maintained the ban on Saturday afternoon flights, a move that balances economic growth with the quality of life for local residents. This decision marks one of the Labour government’s first significant infrastructure planning calls.

Prison pressure: Overcrowding crisis. A directive from the judiciary has asked magistrates to delay sentencing for some offenders, as the country grapples with an unprecedented prison overcrowding crisis. With prison populations at an all-time high and cells in short supply, the government is set to implement an early release strategy from early September onwards to alleviate the pressure. This crisis highlights the urgent need for resources and reform within the justice system, as officials scramble to manage the fallout from a system stretched to its limits.

ACROSS THE POND

If in doubt, promise JFK files
As if Netflix didn’t have enough true crime to go at already… Donald Trump, during an Arizona rally, promised to release the remaining JFK assassination documents. This after a rather surprising endorsement from his erstwhile rival, Robert F. Kennedy Jr.

Kennedy’s family is less than chuffed, calling his act a "betrayal". However, Trump wasted no time in lauding Kennedy's "extraordinary campaign" while hinting at their occasional differences. He intriguingly suggested that Kennedy might have a role in a potential future administration, though specifics remain as mysterious as the files themselves.

Trump also pledged to form a new commission to look into assassination attempts, including the attempt on his own life in Pennsylvania last July. This commission, he says, would finally shed light on JFK's assassination, potentially thrilling conspiracy theorists and history buffs alike.

Jet powered baristas
Starbucks' newly minted CEO, Brian Niccol, won't be swapping the sunny Californian coast for Seattle's drizzle anytime soon. Instead, he'll be super-commuting from his Newport Beach abode to the Seattle HQ, a breezy 1,000-mile jaunt on the corporate jet. Still, good news on those paper straws in the UK.

Niccol, 50, is set to rake in a cool £1.26m annually, with the prospect of his bonus rocketing to between £2.8m and £5.6m based on his performance. Toss in annual equity awards totalling up to £18m, and you've got yourself one well-compensated coffee connoisseur. Not too shabby for the guy who turned Chipotle from a food-poisoning central to a pandemic-proof powerhouse (Chipotle stock flew 773% under his watch).

This super-commuting CEO trend isn't just a one-off. Hillary Super, the newly appointed CEO of Victoria's Secret, will be flitting between New York City and Ohio. The rise of jet-setting execs is a sign of the competitive job market and a company's willingness to bend over backwards for top talent.

TECH

A Starliner stumbles as SpaceX soars. The stage is set for another space milestone as SpaceX's Polaris Dawn mission gears up to launch a private crew to the highest orbit since the Apollo era. This mission, which includes the first-ever private spacewalk, aims to push the boundaries of commercial space travel, testing new spacesuits and communication tech 870 miles above Earth. Meanwhile, Boeing’s Starliner isn’t faring as well. After a string of technical glitches, NASA has opted to bring its astronauts home aboard a SpaceX Crew Dragon, leaving Starliner to return uncrewed.

A robotic revolution in Beijing. Down on Earth, the future of humanoid robots is being forged at Beijing’s World Robot Conference, where Chinese engineers are showcasing machines that could soon rival Tesla’s Optimus. With President Xi Jinping’s push for technological dominance, China is leading the charge in making humanoid robots a common sight in industries from manufacturing to healthcare—and, we predict, on your streets very soon.

Boston Dynamics' Atlas robot isn't resting on its laurels, showing off its latest trick—push-ups. As these bots grow more agile and capable, the line between human and machine blurs, bringing us ever closer to a world where robots enable humans to push the boundaries of innovation, freeing us to focus on creativity, connection, and the challenges that only we can tackle.

Telegram’s founder arrested. Telegram’s founder Pavel Durov finds himself in a digital jam, detained in France on murky charges tied to the moderation—or lack thereof—of his encrypted messaging platform. Russia is up in arms, labelling Durov a "political prisoner". As controversy brews over his arrest, the digital frontier and the battle for free speech remain as contentious as ever.

WORLD

In Merseyside, John Alfred Tinniswood, the world’s oldest living man, just celebrated his 112th birthday. Born in 1912, the year the Titanic sank, John has witnessed the rise and fall of 24 UK prime ministers, enjoyed countless Liverpool football victories (and losses), and still manages his life independently—no small feat! His secret? Just “luck”, a love of walking, and, of course, fish and chips every Friday.

In Botswana, miners struck it rich with the discovery of a 2,492-carat diamond. This gem could be the second-largest of its kind ever found, sitting comfortably behind the historic Cullinan diamond. While its value remains a mystery, the find reaffirms Botswana’s place as a leading player in the global diamond industry. President Mokgweetsi Masisi will soon have the honour of unveiling this extraordinary stone.

In New Zealand, it’s all hands on deck as the country rushes to protect its unique and beloved bird species from the looming threat of H5N1 avian flu. The virus, which has wreaked havoc on bird populations worldwide, could spell disaster for New Zealand’s endangered birds if it arrives.

Across the Tasman Sea, Australia is sweltering under its hottest winter on record. With temperatures soaring to a blistering 41.6°C in Western Australia, and other states not far behind, it’s clear that the Land Down Under is feeling the heat. This unseasonal warmth has left meteorologists baffled and serves as a sobering reminder of the ongoing impacts of climate change.

Finally, in Asia, Thailand has confirmed its first case of a new, deadlier variant of mpox, known as Clade-1b. This variant, which has been spreading rapidly in Africa and Europe, has a higher fatality rate and poses a significant threat. Thai authorities are on high alert, monitoring contacts and testing travellers from high-risk countries to prevent the virus from gaining a foothold.

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Cuppa Chat Cheat Sheet

🐬💥 A lonely, sexually frustrated dolphin is blamed for 18 attacks on swimmers in Mihama, Japan this year, causing serious injuries. Experts believe the dolphin's aggressive behaviour stems from its isolation and need for social interaction.

🧸🎩 A 45ft-tall straw Paddington Bear, created by Mike Harper and located in Cheshire. The sculpture is made to support children with mucopolysaccharidosis type III, with local ice cream shop Snugburys donating a portion of sales.

🚑💉 The UK's first official drug consumption room will open on October 21st in Glasgow, allowing users to consume illegal drugs under medical supervision. The facility aims to reduce drug-related deaths and overdoses, amid a sharp rise in drug misuse fatalities.

🏝️🚫 Street cleaner Paul Spiers, initially barred from accepting a crowdfunded £3k holiday due to workplace rules, will now travel thanks to a competition loophole.

🎉🌍 The Notting Hill Carnival draws one million attendees celebrating Caribbean heritage, arts, and culture in West London.

🍄💇‍♀️ Dyson's new hair products, containing fungal chitosan from oyster mushrooms, claim to reduce frizz by up to 50%.

📸🤖 Donald Trump shared AI-generated deepfake images depicting Taylor Swift and her fans supporting his campaign.

✈️💺 Qantas mistakenly sold around 300 first-class tickets at heavily reduced prices due to a coding error.