Arm Boss in Line for Billion-Dollar Payday if Chipmaker Hits Targets
Arm CEO Rene Haas faces a potential $800 million bonus that could push his total compensation above $1 billion if the company hits market‑capitalisation milestones of $1 trillion by 2029, $1.25 trillion in 2030 and £2 trillion (≈$2.54 trillion) by 2031. The remuneration plan, to be voted on at the September annual meeting, expands Haas’s annual share awards to up to 200 % of salary and ties pay to Arm’s shift from licensing to manufacturing AI‑focused chips. Achieving these targets would make Arm the UK’s first trillion‑dollar firm, dwarfing compensation levels of most British listed companies and aligning with US‑style executive incentives. The proposal follows SoftBank’s continued control of Arm and reflects broader trends of aggressive pay structures in the tech sector.
‘How Can You Have a Ferrari without Any Vroom?’: Electric Model Shocks Owners’ Club
Ferrari unveiled its first fully electric model, the Luce EV, prompting a fierce backlash from traditional owners’ clubs who lament the loss of the iconic V12 roar and classic styling. The debut sent Ferrari’s Milan‑listed shares down 8.4% and U.S. ADRs...
London Tube Strikes to Go Ahead on Tuesday and Thursday, RMT Says
The RMT union has confirmed two 24‑hour London Underground driver strikes on Tuesday, 2 June, and Thursday, 4 June, over TfL’s proposed four‑day workweek. TfL says most tube lines will continue operating but warns commuters of significant disruption, while other services such...
Mutual Retailer Triples Boss’s Pay to £2.2m Despite Fall in Profits
OurCoop, a UK mutual retailer operating about 500 food stores, approved a three‑fold increase in CEO Deborah Robinson’s remuneration to £2.2 million ($2.8 million) for 2026. The raise arrived as sales slipped 4.4% to £844.6 million ($1.07 billion) and trading profit halved to £4.3 million...
Brexit Rules on Food Exports to Be Scrapped, Government Confirms
Britain and the EU have reached a sanitary and phytosanitary (SPS) agreement that will scrap Brexit‑related food export rules from mid‑2027. The deal eliminates the need for costly veterinary, plant and packaging certificates, ending the paperwork “hell” that has delayed...
Patagonia Sues Drag Queen Pattie Gonia for Trademark Infringement
Patagonia has filed a trademark infringement lawsuit against drag queen activist Pattie Gonia, seeking a nominal $1 in damages plus legal fees. The suit, lodged in a Los Angeles federal court on Jan 21, 2026, follows Wiley’s September trademark application for...
Kiln-Free Recycled Tile Startup Agrees Pilot Deal with Major UK Supplier
Manchester‑based startup Dekiln has secured a pilot partnership with Johnson Tiles to commercialise its kiln‑free, low‑carbon tile process at a trial plant in Stoke‑on‑Trent. The technology cures recycled plaster and plant‑based binders at 35 °C, eliminating the need for kilns that...
Trump Tower in Georgia to Be Built on Land Part-Owned by Son of US Sanctions-Hit Leader
The Trump Organization announced a 70‑storey Trump Tower in Tbilisi, to be built on a plot partly owned by the International Charity Fund Cartu, which is 35% held by Uta Ivanishvili, son of US‑sanctioned Georgian billionaire Bidzina Ivanishvili. The project...
Farage Under Mounting Pressure to Prove Russian Hack Claim
Nigel Farage, leader of Reform UK, claims a Russian state‑sponsored hack exposed a £5 million (≈ $6.3 million) gift from crypto billionaire Christopher Harborne. Reform UK says “counter‑espionage experts” identified spear‑phishing activity linked to Moscow before the Guardian revealed the undeclared payment. Labour and Conservative...
Alcohol Charities Warn 99p Buzzballz Shot ‘Designed to Appeal to Children’
Alcohol charities have condemned the new 99p (≈$1.26) BuzzBallz ready‑to‑drink shot, saying its low price, sweet flavours and TikTok‑style branding are crafted to lure under‑age drinkers. The product is being sold from a 99 Liquor Whip ice‑cream van on university campuses and...
Kevin Warsh Sworn in as Fed Chair as Trump Faces Backlash over Economy
Kevin Warsh was sworn in as the new Federal Reserve chair, a hand‑picked choice of President Donald Trump, as the administration faces mounting criticism over the economy. Warsh inherits a Fed under pressure to cut rates while inflation rose to...
Met Palantir Row Goes to Heart of How Public Services Should Use AI
The Metropolitan Police is negotiating a roughly $63.5 million contract with US AI firm Palantir to help offset a $158 million budget shortfall that threatens 1,150 jobs. The Home Office has urged police forces to adopt AI "at pace and scale," prompting...
Oil Markets Nearing ‘Red Zone’ as Iran Crisis Continues, Warns IEA Chief
International Energy Agency chief Fatih Birol warned that global oil markets could slip into a “red zone” by July‑August as inventories shrink and fresh Middle‑East exports dry up amid the Iran‑related crisis. He said the conflict has removed roughly 14 million barrels...
The Main Takeaways From Elon Musk’s Plans for $1.75tn SpaceX Flotation
Elon Musk’s SpaceX filed a prospectus for a $1.75 tn (≈$1.63 tn) flotation slated for next month, seeking public capital to fund its multi‑planetary vision. The 2025 financials show a $4.9 bn loss on $18.7 bn revenue, with Starlink’s $11.4 bn connectivity segment the only...
Rachel Reeves to Protect ‘Critical’ Clean Energy Projects From Legal Challenges
UK Chancellor Rachel Reeves announced planning reforms to fast‑track critical clean‑energy projects in England and Wales by limiting judicial reviews to human‑rights grounds. Projects designated as “critical national importance” will receive streamlined approval, aiming to cut delays that have slowed...