Category: 3. Business

  • Cyber security concerns spur Code Red changes and county URL shift

    Cyber security concerns spur Code Red changes and county URL shift

    A recent notice from the Cook County Sheriff’s Office announced the temporary disruption to the Code Red system.

    Code Red is part of IPAWS, the Integrated Public Alert Warning System, which allows government agencies to communicate emergency messages to the public.

    County Management Information Systems Director Rowan Watkins explained that recently, Rode Red experienced a data breach. In that breach, the names and contact information of people who have signed up for the service were stolen. The passwords they used to sign up were also part of the breach.

    “It sets people up to really send tricky phishing emails where they could impersonate a local government and try to trick somebody into clicking on something,” Watkins said. He added that the stolen passwords could also pose another security problem. “If you have a common password that you do use for your banking or other things like that, then you know they have that information, and they could try that on other accounts.”

    Watkins said that at this point the security issue has been fixed, and Code Red has launched an updated program. For those who were previously signed up, their account information will be manually moved by the sheriff’s department to the new system. He said that members of the public don’t need to do anything, but he does suggest increased vigilance when it comes to their cyber security and managing the threats of scammers.

    “We’ve had a really huge increase in pretty sophisticated phishing attacks across the county, across the country, but in particular in the county, we’ve had quite a few,” Watkins said. To anyone who receives suspicious contact, Watkins encouraged them to reach out with questions.

    In addition to the updated Code Red program, Watkins said there is additional work happening at the county to improve cybersecurity. The county is moving away from the long-running URL ending (cook.co.mn.us) in favor of a simple .gov.

    Watkins explained that the shift to using URLs that end in .gov improves the public’s ability to recognize scams. He said the former ending, which was longer and more complicated, allowed more opportunities for a scammer to use an email that is only slightly different from the genuine county URL.

    Over the next six month, Watkins and the MIS department will be adjusting all county email addresses and other URL uses. The current URLs will remain active, but reroute to the new addresses.

    WTIP’s Kirsten Wisniewski spoke with Rowan Watkins about cyber security. Audio. of that interview is below.

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  • Ministry of Finance Ghana and Afreximbank announce successful resolution of US$750 million facility

    Ministry of Finance Ghana and Afreximbank announce successful resolution of US$750 million facility




    25 December 2025…The Government of the Republic of Ghana, acting through the Ministry of Finance, and the African Export-Import Bank (Afreximbank) are pleased to announce successful resolution of the issues surrounding the US$750 million facility signed in 2022, to the satisfaction of both parties, enabling both parties to continue to partner for Ghana’s development agenda.

    (Ends)





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  • Wear behaviour and statistical assessment of organomodified nanoclay reinforced glass fiber epoxy nanocomposites

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  • bp agrees to sell a 65% shareholding in Castrol to Stonepeak at an enterprise value of $10 billion | News and insights

    bp agrees to sell a 65% shareholding in Castrol to Stonepeak at an enterprise value of $10 billion | News and insights

    Following a comprehensive strategic review of Castrol, bp has reached an agreement to sell a 65% shareholding in Castrol to Stonepeak, at an enterprise value of $10.1 billion. This represents an implied EV / LTM EBITDA of around 8.6x reflecting the strength of the business and future growth potential. The transaction represents a significant milestone in bp’s commitment to accelerate its strategy, including simplifying the portfolio, strengthening the balance sheet, and focusing the downstream on its leading integrated businesses.

    The transaction is expected to result in total net proceeds to bp of approximately $6.0 billion, which includes around $0.8 billion for the pre-payment of future dividend income over the short to medium term on bp’s retained 35% stake and other adjustments. The implied total equity value of Castrol is $8.0 billion after deducting JV minority interests totaling $1.8 billion, and other debt-like obligations of around $0.3 billion, and subject to customary adjustments. A significant proportion of Castrol JV minority interests relate to the shareholding in the publicly listed Castrol India Limited. 

    Upon completion of the transaction a new joint venture will be incorporated comprising a 65% Stonepeak and 35% bp ownership. bp’s retained stake provides exposure to Castrol’s growth plan over the coming years, which builds on a strong track record of nine quarters of consecutive year on year earnings growth. Following a two-year lock-up period, bp has optionality to sell its 35% stake in Castrol. 

     

    “Today’s announcement is a very good outcome for all stakeholders. We concluded a thorough strategic review of Castrol, that generated extensive interest and resulted in the sale of a majority interest to Stonepeak. And with this, we have now completed or announced over half of our targeted $20bn divestment programme, with proceeds to significantly strengthen bp’s balance sheet. The sale marks an important milestone in the ongoing delivery of our reset strategy. We are reducing complexity, focusing the downstream on our leading integrated businesses, and accelerating delivery of our plan. And we are doing so with increasing intensity – with a continued focus on growing cash flow and returns, and delivering value for our shareholders”

     

    Carol Howle, interim CEO

     

    The transaction is expected to complete by end of 2026, subject to regulatory approvals. 

    Carol Howle, interim CEO at bp, said: “Today’s announcement is a very good outcome for all stakeholders. We concluded a thorough strategic review of Castrol, that generated extensive interest and resulted in the sale of a majority interest to Stonepeak. The transaction allows us to realise value for our shareholders, generating significant proceeds while continuing to benefit from Castrol’s strong growth momentum. And with this, we have now completed or announced over half of our targeted $20bn divestment programme, with proceeds to significantly strengthen bp’s balance sheet. The sale marks an important milestone in the ongoing delivery of our reset strategy. We are reducing complexity, focusing the downstream on our leading integrated businesses, and accelerating delivery of our plan. And we are doing so with increasing intensity – with a continued focus on growing cash flow and returns, and delivering value for our shareholders.”

    Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak, said: “Lubricants are a mission-critical product, which are essential to the safe and efficient functioning of virtually every vehicle, machine, and industrial process in the world. Castrol’s 126-year heritage has created a leading market position, an iconic brand, and a portfolio of differentiated products that deliver meaningful value to its customers. We are excited to work alongside Castrol’s talented employees, coupled with bp’s continued guidance as a minority interest holder, as we support the business’s continued growth.”

    The sale is part of bp’s previously announced $20 billion divestment programme and brings completed and announced divestment proceeds to date to around $11.0 billion. All proceeds from this transaction will be allocated to reducing net debt towards bp’s target of $14-18 billion by end 2027. As of the end of 3Q 2025 bp’s net debt was $26.1 billion. Divestment proceeds guidance for 2025 is over $4 billion, of which $1.7 billion has been received as at 3Q25 results, with the remainder expected to be received by year-end 2025.

     

    bp remains committed to driving the highest value for its shareholders, and will continue to:

    • seek opportunities to high-grade its portfolio and reduce complexity;
    • strengthen its balance sheet and optimise its cost base; and
    • invest with discipline with a focus on maximising cash flow and returns.

    In doing so, bp is accelerating its strategy to become a simpler, leaner, and more profitable company.

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  • An Arkansas Powerball player has won $1.87 billion in a Christmas Eve drawing. It’s the 2nd largest jackpot in U.S. history

    An Arkansas Powerball player has won $1.87 billion in a Christmas Eve drawing. It’s the 2nd largest jackpot in U.S. history

    A Powerball player in Arkansas won a $1.817 billion jackpot in Wednesday’s Christmas Eve drawing, ending the lottery game’s three-month stretch without a top-prize winner.

    The winning numbers were 04, 25, 31, 52 and 59, with the Powerball number being 19.

    READ MORE: Some personal finance advice on winning Powerball (or what would Voltaire do?)

    Final ticket sales pushed the jackpot higher than previous expected, making it the second-largest in U.S. history and the largest Powerball prize of 2025, according to www.powerball.com. The jackpot had a lump sum cash payment option of $834.9 million.

    “Congratulations to the newest Powerball jackpot winner! This is truly an extraordinary, life-changing prize,” Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, was quoted as saying by the website. “We also want to thank all the players who joined in this jackpot streak — every ticket purchased helps support public programs and services across the country.”

    The prize followed 46 consecutive drawings in which no one matched all six numbers.

    The last drawing with a jackpot winner was Sept. 6, when players in Missouri and Texas won $1.787 billion.

    Organizers said it is the second time the Powerball jackpot has been won by a ticket sold in Arkansas. It first happened in 2010.

    The last time someone won a Powerball jackpot on Christmas Eve was in 2011, Powerball said. The company added that the sweepstakes also has been won on Christmas Day four times, most recently in 2013.

    Powerball’s odds of 1 in 292.2 million are designed to generate big jackpots, with prizes growing as they roll over when no one wins. Lottery officials note that the odds are far better for the game’s many smaller prizes.

    “With the prize so high, I just bought one kind of impulsively. Why not?” Indianapolis glass artist Chris Winters said Wednesday.

    Tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

    Associated Press videojournalist Obed Lamy in Indianapolis contributed. Olivia Diaz is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

    A free press is a cornerstone of a healthy democracy.

    Support trusted journalism and civil dialogue.


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  • Renewed zeal for Boxing Day sales expected to ring up £3.8bn for retailers | Retail industry

    Renewed zeal for Boxing Day sales expected to ring up £3.8bn for retailers | Retail industry

    UK shoppers are expected to spend £3.8bn this Boxing Day, 2% more than last year, with online sellers experiencing most of that growth but high streets also enjoying a boost from a renewed appetite for post-Christmas bargains.

    Boxing Day remains one of the busiest shopping days of the year, but in recent years the dash for the high street has eased as more people opt to search for bargains from the sofa.

    With many discounts kicking off from midnight on Christmas Eve, Christmas Day is now worth more than £1bn in sales, with 23 million people in the UK expected to be buying online shortly after unwrapping their gifts. That is half a million more than last year, according to analysis by the research company GlobalData for Vouchercodes.co.uk.

    High streets and other shopping centres are expected to record a 1.5% rise in sales on Boxing Day compared with last year, ahead of the 0.6% pace of shop price inflation, according to the latest British Retail Consortium figures. That is less than half the 3.4% growth expected in online sales, according to GlobalData.

    Kien Tan at the advisory firm PwC said Boxing Day could benefit from a more lacklustre Black Friday sales period this year, during which retailers were disappointed by demand as shoppers held out for better bargains.

    “There are signs are that Black Friday has peaked in the UK and there will still be people looking for bargains on Boxing Day. It’s not necessarily a comeback but it’s still there – a British institution.”

    He said the hunt for bargains came as shoppers were feeling more cautious than a year ago as there was “a lot more uncertainty and people are holding back”.

    Tan said online shopping was on the rise again, driven by busy middle-aged people rather than fashion shoppers. They are likely to be ready to spend more on furniture and other gadgets for the home in the post-Christmas sales as it is now five years since the pandemic fuelled a boom in spending on home improvements, so many goods bought at that time are becoming worn out.

    Before Christmas, there were signs that shoppers were holding off on purchases. On Christmas Eve, fashion retailers launched early discounts after a mild autumn and winter for much of the country held back sales of knitwear and coats. New Look, Boohoo and Sports Direct all offered discounts of up to 70%, and Next, John Lewis and Topshop offered 50% off.

    Visitor numbers were down 4.5% on Tuesday compared with 23 December last year, according to the retail footfall measuring firm MRI as a bounceback in cities including London was offset by poor numbers in towns and shopping centres. Footfall recovered some ground on Christmas Eve, up 0.4% on a year earlier.

    Moji Oshisanya, the chief commercial officer of VoucherCodes.co.uk, said: “The uplift in sales over the Boxing Day sales period is driven by two key factors. We’re seeing a resurgence in appetite for the Boxing Day sales, with shopper numbers forecast to be at their highest level in four years – a healthy 105.2 million [over a week]. The Boxing Day sales are often a moment for consumers to treat themselves post-Christmas, and with finances tight, the deals and discounts available will be used to stretch budgets further.

    “However, increased participation isn’t the only driver: inflation is also to blame. Over the wider six-week Christmas period, from mid-November to the end of December, sales value is expected to grow by 3.2%, yet sales volume is forecast to fall by 0.3%. This indicates that while people are spending more, driving up overall sales figures, they won’t necessarily be taking home more items.”

    Boxing Day now vies with 27 December for the busiest shopping day post-Christmas and that will be particularly true this year as the 27th is a Saturday, so many people will be off work.

    About 44% of consumers say they plan to hit the high streets from Boxing Day onwards, with 29% heading to retail parks and 22% expecting to visit big shopping centres, according to MRI.

    High street spending has come under pressure in recent years as some big retailers – including most John Lewis outlets, Aldi, Poundland, B&Q, Next and large Marks & Spencer stores, remain closed on Boxing Day.

    With family structures more diverse, many households also enjoy several celebratory meals in different locations, while public transport shutdowns can hold up trade on the traditional start to the post-Christmas sales.

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  • Jingle bills: Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve

    Jingle bills: Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve

    In order to win the jackpot, a lottery ticket holder must match all five white balls and the red Powerball selected during a drawing.

    Tickets for the lottery cost $2 each – and the odds of winning the jackpot are 1 in 292.2 million, according to game organisers.

    A winner has an option to choose a lump-sum payment or receive the full amount in an annuity paid over 29 years, but most winners opt for the upfront cash option.

    The game, which began in 1992, is played in 45 of the 50 US states, the capital city of Washington, and in the US territories of Puerto Rico and the Virgin Islands.

    The winnings are subject to federal taxes of between 24% and 37%, and, in most cases, state taxes.

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  • Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve

    Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve

    A Powerball player in Arkansas won a whopping $1.817bn (£1.34bn) jackpot in a Christmas Eve drawing, making it the second-largest lottery prize ever claimed.

    The single winning ticket matched all six numbers – 4, 25, 31, 52, 59 and red Powerball 19 – giving the winner the option of taking a lump-sum cash payment of $834.9m.

    This marks only the second time a Powerball jackpot has been won by a ticket sold in Arkansas, according to the lottery operator. Powerball did not identify the winner.

    The largest single-ticket prize remains the $2.04bn jackpot won in 2022 by a player in Altadena, California.

    In order to win the jackpot, a lottery ticket holder must match all five white balls and the red Powerball selected during a drawing.

    Tickets for the lottery cost $2 each – and the odds of winning the jackpot are 1 in 292.2 million, according to game organisers.

    A winner has an option to choose a lump-sum payment or receive the full amount in an annuity paid over 29 years, but most winners opt for the upfront cash option.

    The game, which began in 1992, is played in 45 of the 50 US states, the capital city of Washington, and in the US territories of Puerto Rico and the Virgin Islands.

    The winnings are subject to federal taxes of between 24% and 37%, and, in most cases, state taxes.

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  • UK electric car charger rollout slows amid worries over EV switch | Electric, hybrid and low-emission cars

    UK electric car charger rollout slows amid worries over EV switch | Electric, hybrid and low-emission cars

    The UK’s rollout of electric car chargers slackened markedly in 2025 amid investor concerns over a slower-than-expected switch to cleaner battery vehicles.

    There were 87,200 chargers installed in the UK at the end of November, an increase of 13,500 compared with the end of 2024, according to data from Zapmap, which tracks charger installations.

    That represented the smallest number of new chargers installed in the UK since 2022, and put the industry on track for growth of less than 20%, down from 37% the year before. It would be the slowest annual growth in the decade since installations started to take off.

    The number of electric cars sold is still growing rapidly, accounting for 23% of British sales in the first 11 months of 2025 – up from 19% at the same point last year. However, growth has not been as quick as previously expected. Some manufacturers have slowed their switch from petrol to electric, while some investors in charging infrastructure have also slowed down.

    Carmakers persuaded the UK government to weaken electric car sales targets despite warnings from the charging industry that lower sales would imperil investment.

    Colin Walker, the head of transport at the Energy and Climate Intelligence Unit, a thinktank, said the slowdown in charger installations this year was “no surprise” given the “rather mixed messages on EVs” from the UK government, including a new pay-per-mile tax on electric cars from 2028, announced at last month’s budget.

    “Its weakening of the zero emission vehicle mandate could incentivise the sale of plug-in hybrids rather than EVs,” he said. “And while it won’t change the fact that EVs will remain considerably cheaper to run, the 3p per mile tax on EVs risks undermining consumer confidence. All of this could slow EV sales considerably, which, in turn, could undermine business confidence and slow investment in the public charging infrastructure this country needs.”

    Electric car charger chart

    There were 48,100 slow chargers at the end of November, an increase of 15% over the year. The number of ultra-rapid chargers, which tend to be used for quick top-ups on longer journeys, rose 39% to about 9,800.

    Quick Guide

    Electric vehicle charging speeds

    Show

    Not all chargers are created equal

    More and more people are buying electric cars, and are having to grapple with charging for the first time. However, not all chargers are created equal, and the profusion of units can cause confusion.

    Charging speeds are measured by power output in kilowatts (kW), while battery capacity is measured in kilowatt hours (kWh). For example, a Nissan Leaf has 39kWh of battery capacity, while a Tesla Model Y has 60kWh.

    Recharge times vary depending on battery size: divide the battery size by the power to get a very rough idea of how many hours it will take to charge. (E.g., a 60kWh battery at a 22kW charger would take about three hours.) The quicker the charge, the more it tends to cost.

    Slow: up to 8kW

    Common at homes, on-street chargers and places cars hang around like car parks or hotels. Suitable for charging overnight. Plugging in with a UK three-pin plug to the mains at home will deliver about 2.3kW – although it is not recommended.

    Fast: 8kW to 49kW

    Found at urban sites like supermarkets, shopping centres or car parks. Capable of charging a smaller battery in a few hours.

    Rapid: 50kW to 150kW

    Typically found close to big roads for journey charging, but also increasingly found in locations such as supermarkets or gyms with short dwell times. 50kW could give 80% charge in less than an hour.

    Ultra-rapid: 150kW and above

    Most chargers being installed at motorway services or dedicated charging hubs are now at least 150kW.  Many newer cars can now handle 150kW, and several can charge at speeds of over 300kW, adding hundreds of miles of range in around 10 minutes.

    Photograph: John Walton/PA Wire

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    Vicky Read, the chief executive of ChargeUK, a lobby group for the charging industry, said that there had been fewer installations than the industry wanted of slow chargers, which tend to be used to charge more cheaply overnight.

    “Across the market charge point operators have been facing rapidly rising costs, which has impacted the pace of the rollout in some more commercially challenging locations, while grid connections continue to hold back installations,” she said.

    Some analysts believe that the UK’s charger rollout is on track. The supply of public charging across Great Britain remains ahead of demand by 1.5 years, according to analysis in September by Cenex, a non-profit research body. However, rapid chargers by motorways for longer journeys are much more developed: existing charge points could cope with demand for the next six years without any more added, Cenex said.

    Read said delayed local electric vehicle infrastructure (Levi) funding for councils would start arriving in bulk in 2026 and 2027, helping installations to accelerate again.

    She said: “To ensure we stay on track as we make this transition, we need to have the government’s support to reduce the cost burden – which is affecting driver prices as well as pace of rollout – and to remove the bottlenecks like connecting to the grid.”

    Electric car charger map

    Despite the UK’s progress in charger installations, the regional variations remain large. Northern Ireland, the poorest region in the UK, has only 39 public chargers for each 100,000 people, compared with 301 for London, according to Zapmap data last updated in October. Northern Ireland, the East Midlands and north-east England were the slowest regions for charger installations per person in the year to October.

    Melanie Shufflebotham, the Zapmap chief operating officer, said there was still “strong growth in ultra-rapid charging”.

    “Charge point operators face challenges as the tender and commercial contract process for the Levi fund have taken longer than anticipated, and in parallel, there are also concerns in terms of accessing grid connections in a timely fashion,” she added.

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