Category: 3. Business

  • Tube strikes averted as RMT and TfL agree three-year pay deal

    Tube strikes averted as RMT and TfL agree three-year pay deal

    Trade union RMT says it has agreed a three-year pay deal for Tube workers as well as “fatigue-friendly” rosters, further discussions on staff travel and a “consistent” Boxing Day payment of £400.

    The pay deal consists of a 3.4% increase, effective from 1 April 2025, with a guaranteed rise of 3% in year two and a 2.5% rise in year three.

    Five days of Tube strikes badly disrupted London in September, and the deal lifts the union’s threat of more industrial action.

    RMT general secretary Eddie Dempsey said: “This deal is a clear demonstration of the effectiveness of strike action and strong negotiation by our members.”

    A TfL spokesperson said: “We welcome the decision from the RMT to accept our pay offer. This multi-year offer is fair, affordable and provides certainty for our colleagues over pay for several years.

    “We are engaging with all of our unions on this offer and look forward to their responses.”

    TfL said that no changes have been proposed to working hours as part of the pay offer.

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  • Pizza Hut’s parent explores sale of struggling chain

    Pizza Hut’s parent explores sale of struggling chain

    Yum! Brands is exploring a possible sale of its Pizza Hut chain, as the business struggles to compete with rivals in the pizza business to win over cash-strapped consumers.

    Pizza Hut has reported several quarters of declining same-store sales in the US – a market that makes up 42% of its global sales. The US woes have dragged down the business, even as sales rise in some other markets.

    “Pizza Hut’s performance indicates the need to take additional action to help the brand realise its full value, which may be better executed outside of Yum! Brands,” chief executive Chris Turner said in a statement on Tuesday.

    He added “strategic options” were being examined for its pizza division.

    Pizza Hut, which saw sales at its existing outlets fall 1% overall in the most recent quarter, has lagged behind other big names in the Yum! portfolio. Notably, KFC and Taco Bell, which is known for its low-price meals, have both shown signs of strength.

    Taco Bell’s same-store sales rose 7% in the most recent quarter, while same-store sales at KFC increased 3% despite recent challenges in the US.

    Yum! generates about 11% of its operating profits from its Pizza Hut business. It operates roughly 20,000 Pizza Hut stores globally, about 6,500 of which are located in the US.

    Competitors in the pizza market, like Papa Johns and Domino’s Pizza, also continue to grab market share, contributing to Pizza Hut’s struggles to stay competitive. Domino’s last month reported that its quarterly sales role 6%, which executives attributed in part to promotions.

    Mr Turner, who took the helm of Yum! last month, said Pizza Hut employees have been “working hard to address business and category challenges”.

    Yum! did not specify when the company will make a decision about what comes next for the Pizza Hut brand.

    Beyond competition in the pizza business, Yum has faced a pullback in spending among consumers weighed down by persistent inflation and a slowdown in the labour market.

    The trend of cautious spending has affected the fast-food restaurant industry as a whole in recent months. Last week, an executive at the burrito chain Chipotle said younger consumers in particular are showing sign of strain, stemming from unemployment and loan repayments.

    On a call with analysts on Tuesday, Mr Turner of Yum! referred to US consumers as “cautious but incredibly resilient”. He said spending at Taco Bell has held up despite macroeconomic pressures.

    In the UK, Pizza Hut is closing half of its restaurants as consumers in that market shy away from the chain, too. Over time, Pizza Hut’s market has been sliced up and distributed to its trendier, more nimble rivals.

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  • Lilly, Novo Nordisk near White House deals on obesity drug prices, Endpoints News reports – Reuters

    1. Lilly, Novo Nordisk near White House deals on obesity drug prices, Endpoints News reports  Reuters
    2. Lilly and Novo near White House deal on obesity drug prices  Endpoints News
    3. Novo Nordisk Shares Fell 5.6% After President Trump Commented on Future Price Cuts for Weight Loss Drugs. Should Investors Be Worried?  The Motley Fool
    4. Lilly and Novo near White House deal on obesity drug prices – Endpoints News  StreetInsider
    5. Novo Nordisk, Lilly nearing deal on obesity drug pricing, says UBS  TipRanks

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  • QSA Embarks on Next Five Years of Pioneering Quantum Tech – Berkeley Lab News Center

    QSA Embarks on Next Five Years of Pioneering Quantum Tech – Berkeley Lab News Center

    QSA’s initiatives have led to over a dozen patents, numerous scientific publications, and the creation of startups that are bringing quantum technology to the market. Multiple quantum companies have benefited from QSA’s extensive research network and ongoing collaborations, utilizing the expertise, feedback, and techniques shared by QSA partners to enhance their processes. Additionally, five QSA principal investigators have co-founded quantum companies, applying research results to promising industry use cases. 

    QSA has also trained a new generation of scientists and engineers, many of whom are now leading quantum research at top companies and universities, alongside high school students and teachers. In addition to the 150 graduate students and 100 postdoctoral students delivering cutting edge research in QSA annually, QSA’s QCaMP program has introduced quantum to over 160 high school teachers and 3,200 students across the country. Building on this success, QSA will help create a quantum-ready workforce with new pathways and partnerships that engage undergraduates in community colleges via hands-on training programs. 

    To learn more about QSA’s many achievements, this article highlights five ways QSA has advanced quantum computing. And this Q&A with de Jong showcases QSA’s progress, exciting plans for the future, and the kinds of breakthroughs to expect as quantum systems grow and mature.

    Leveraging QSA’s expertise and capabilities

    QSA develops next-generation quantum capabilities by integrating multidisciplinary teams across its partner institutions and leveraging specialized quantum-ready facilities at Berkeley Lab, Sandia National Laboratories, and other leading institutions. 

    Berkeley Lab, for example, partners with industry and academia and works across the quantum research ecosystem — from theory to application — to fabricate and test quantum-based devices, develop software and algorithms, and build prototype computers and networks. Berkeley Lab’s national user facilities provide state-of-the-art resources for scientists in QSA and beyond to advance the frontiers of quantum science. This includes the Advanced Light Source, the National Energy Research Scientific Computing Center (NERSC), and the Molecular Foundry, which has a QIS cluster tool that enables researchers to experiment with dozens of materials and methods for making qubit components in a single automated system. The Molecular Foundry will also soon add a dilution refrigerator that will enable high-throughput analysis of qubits. Berkeley Lab also leads the Advanced Quantum Testbed (AQT), a collaborative research laboratory and open-access testbed to advance quantum computing based on superconducting circuits. In this video, de Jong, shares how quantum research at Berkeley Lab is forging the future of quantum breakthroughs by collaborating with researchers across institutions.

    ###

    Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science.

    DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the U.S., and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.

    The Quantum Systems Accelerator (QSA) is one of the five National Quantum Information Science Research Centers funded by the U.S. Department of Energy Office of Science. Led by Lawrence Berkeley National Laboratory (Berkeley Lab) and with Sandia National Laboratories as lead partner, QSA catalyzes national leadership in quantum information science to co-design the algorithms, quantum devices, and engineering solutions needed to deliver certified quantum advantage in scientific applications. QSA brings together dozens of scientists who are pioneers of many of today’s unique quantum engineering and fabrication capabilities. In addition to industry and academic partners across the world, 15 institutions are part of QSA: Lawrence Berkeley National Laboratory, Sandia National Laboratories, University of Colorado at Boulder, MIT Lincoln Laboratory, Caltech, Duke University, Harvard University, Massachusetts Institute of Technology,, UC Berkeley, University of Maryland, University of New Mexico, Cornell University, University of Washington, and Canada’s Université de Sherbrooke and University of Waterloo. QSA’s industrial partners are Applied Materials, Atom Computing, IonQ, Maybell, QoLab, Quantum Machines, Quantinuum, QuEra, and Riverlane. For more information, please visit https://quantumsystemsaccelerator.org/

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  • How the market’s bad breadth may have been a harbinger of Tuesday sell-off

    How the market’s bad breadth may have been a harbinger of Tuesday sell-off

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  • Johnson Controls named one of America’s Most Reliable Companies by Newsweek

    Johnson Controls named one of America’s Most Reliable Companies by Newsweek

    MILWAUKEE, Nov. 4, 2025 Johnson Controls (NYSE: JCI), the global leader for smart, safe, healthy and sustainable buildings, today announced its inclusion in Newsweek’s America’s Most Reliable Companies 2026, presented in collaboration with Statista.

    America’s Most Reliable Companies 2026 were identified through a comprehensive independent survey of more than 1,700 U.S. participants, evaluating businesses on five key metrics: likelihood of recommendation, ease of doing business, value for money, consistency of deliverables and reputation for dependability.

    At Johnson Controls, we take pride in being a trusted partner to our customers, helping them grow their businesses in complex, mission-critical environments,” said Todd Grabowski, President, Americas at Johnson Controls. “Being named one of America’s Most Reliable Companies is a testament to how our teams put the customer at the center of everything we do, from the technicians delivering service in the field to the engineers driving innovation behind the scenes.”

    Reliability is the foundation of long-term success, and this recognition underscores Johnson Controls’ unwavering commitment to earning and maintaining the trust of its customers, partners and stakeholders. Inclusion in this list highlights the dedication of the entire Johnson Controls team to deliver consistent quality, transparent communication and dependable results year after year. Johnson Controls has an unmatched field position in the industry and proudly employs over 15,000 skilled technicians across the Americas, and 40,000 globally, who – alongside our sales teams – are the face of the company. 

    View the full list on Newsweek’s website.

     

    MEDIA CONTACT: 

    Ben Hoekstra  
    Direct: +1 414 630 0482
    Email:
    media@jci.com

     

    About Johnson Controls:

    At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet. 

    Building on a proud history of 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, our comprehensive digital offering. 

    Today, Johnson Controls offers the world`s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry. 

    Visit johnsoncontrols.com for more information and follow @Johnsoncontrols on social platforms.

     

    About Statista

    Statista produces hundreds of global industry rankings and company listings in partnership with leading media outlets. Its research and analysis service is powered by the data-driven expertise of statista.com, a premier business intelligence portal offering comprehensive market insights, statistics, and consumer studies.

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  • The UK’s first Copyright vs AI decision: Key takeaways on a win for the AI industry | Insights

    The UK’s first Copyright vs AI decision: Key takeaways on a win for the AI industry | Insights

    The Claimants (collectively Getty), whose business centers on licensing photographic images, videos, and illustrations, alleged that Stability AI (Stability) had scraped millions of its images without consent to train various versions of its open-source AI image generator, Stable Diffusion. Getty claimed that this conduct infringed its copyright and database rights, constituted secondary copyright infringement through the importation of the pretrained software into the UK, and amounted to trademark infringement and passing off through the use of Getty’s marks in AI-generated outputs.

    In late 2023, Stability sought reverse summary judgment/strikeout of Getty’s claims. The High Court dismissed the application, holding that there were reasonable grounds to believe further disclosure might clarify where training occurred and that novel questions of statutory interpretation raised by the secondary infringement claim should proceed to trial. However, during trial, Getty had to abandon its primary copyright infringement claim, accepting that there was no evidence that Stability had trained and developed Stable Diffusion in the UK.

    The Court’s Decision

    The key issue for the Court to decide became Getty’s secondary copyright infringement claim that Stable Diffusion was an “infringing copy” imported into the UK in breach of the Copyright, Designs, and Patents Act 1988 (CDPA). This in turn required the Court to decide whether Stable Diffusion was an “article” for those purposes. The CDPA does not define “article,” but the Court held that an article can be an infringing copy only if it actually contains or embodies the copyright work — at least transiently. The Court found that Stable Diffusion’s model weights did not store, reproduce, or contain any of Getty’s images; they were sets of numerical parameters derived from statistical training.

    Accordingly, the Court held that merely using infringing copies in the course of creating another artifact does not make that artifact an infringing copy and that the Stable Diffusion model “has never consisted of or contained a copy” of Getty’s works.

    Comment

    With no equivalent to a U.S. fair-use defense, creators and AI companies had been waiting to see how the English High Court would apply English copyright law to the AI industry. But Getty’s inability to prove that any relevant acts of Stability took place in the UK left the Court with no need to apply copyright law to the alleged training and development acts of Stability. IP rights are territorial: no UK act, no UK infringement.

    On secondary infringement, English High Court Judge, Mrs. Justice Joanna Smith, carefully considered the argument and rejected Getty’s claim: Merely exposing model weights to infringing copies during training does not render the resulting model an infringing copy.

    AI companies and copyright owners alike may attempt to draw deeper conclusions from Mrs. Justice Smith’s strong judgment; some might even use the decision to justify calls to the UK Government for accelerations or pauses to AI copyright defenses. Ultimately, though, the case teaches nothing new about the application of English copyright law to AI training and development; it reminds copyright holders that they must prove that the alleged acts occurred in the UK, not just that they happened.

    As to deployment and use of the final AI model, the judgment is emphatic: Given that the model never contained or stored an infringing copy, supplying that model is not secondary infringement.

    Getty may decide to appeal. Until then, the law remains that AI companies training AI models outside the UK face little legal threat inside it.

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  • Capgemini and Orano deploy the first intelligent humanoid robot in the nuclear sector

    Capgemini and Orano deploy the first intelligent humanoid robot in the nuclear sector

    Innovation leverages physical AI – a major technological breakthrough with potential benefits for the sector’s performance.

    Paris, November 4, 2025 – Orano, a recognized industrial leader in the recovery and transformation of nuclear materials, and Capgemini, an AI-powered global business and technology transformation partner, announce the deployment of the first intelligent humanoid robot in the nuclear sector. This project marks a major step forward for a strategic industry that has long been a pioneer in innovation.

    Deployed at the Orano Melox Ecole des Métiers[1] in the Gard region of France, the robot named Hoxo is equipped with embedded artificial intelligence (AI) and advanced sensors for real-time perception, autonomous navigation, execution of technical gestures, and interaction. Its purpose is to replicate human movements and operate alongside teams within nuclear facilities, including in challenging intervention environments.

    Over the next four months, Orano Melox’s innovation teams will conduct a testing phase to validate the robot’s range of applications, combining mobility, precision, and artificial intelligence (AI). By offering an agile, scalable robotic platform, this initiative is expected to enhance industrial performance and potentially support operators through robotic assistance.

    “Hoxo opens new perspectives for our operations by combining an intelligent and ergonomic robotic solution with the expertise of our on-site teams. It’s an innovation we aim to evolve to meet our industrial needs, contributing to both safety and competitiveness as we tackle the challenges of today and tomorrow,” said Arnaud Capdepon, Director of Orano Melox.

    “This project, led by our AI Robotics & Experiences Lab, embodies the convergence of robotics, artificial intelligence, computer vision, and digital twins. It redefines human-machine interaction in sensitive environments and pushes the boundaries of industrial automation. Through this initiative, we harness the potential of physical AI to address Orano’s most demanding industrial challenges,” added Pascal Brier, Chief Innovation Officer at Capgemini and member of the Group Executive Committee.

    About Orano

    As a leading international operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group’s 18,000 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow. Orano, giving nuclear energy its full value.

    About Capgemini

    Capgemini is an AI-powered global business and technology transformation partner, delivering tangible business value. We imagine the future of organizations and make it real with AI, technology and people. With our strong heritage of nearly 60 years, we are a responsible and diverse group of 420,000 team members in more than 50 countries. We deliver end-to-end services and solutions with our deep industry expertise and strong partner ecosystem, leveraging our capabilities across strategy, technology, design, engineering and business operations. The Group reported 2024 global revenues of €22.1 billion.

    Make it real |  www.capgemini.com

    Discover the humanoid robot Hoxo in pictures:


    [1] Created in early 2018, Ecole des Métiers is dedicated to promoting and developing the Orano’s technical training: https://www.orano.group/en/nuclear-expertise/comprehensive-range-of-services/vocational-training-in-the-nuclear-environment

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  • English football licensing regime details emerge

    English football licensing regime details emerge

    Trevor Watkins and David Thorneloe of Pinsent Masons were commenting after the IFR opened a consultation on establishing the new licensing regime.

    This consultation seeks views around how the licensing process will operate and about the relevant documentation clubs will need to compile when applying for a licence.

    Clubs will need to apply for their first licenses by February 2027. Unless one is granted to them by the start of the 2027-28 season, they will be unable to field a team that season. A provisional licensing regime will operate initially, providing clubs with a window of three years from being granted a provisional licence to meet the conditions of a full licence.

    The IFR will set clubs a set of mandatory conditions to meet to become fully licensed, including around financial planning, corporate governance and fan consultation. The IFR will have powers to impose further discretionary conditions on individual clubs if they are considered “at risk” – including, for example, specific steps and monitoring to restrict their expenditure.

    Included in the consultation paper are the IFR’s proposed principles to shape its approach to financial regulation – an issue brought into sharp focus recently by the situation at Sheffield Wednesday.

    With those principles, the IFR endorses the concepts of forward-looking risk management and board-level responsibility for financial soundness of clubs and puts an emphasis on financial reporting to help clubs manage their own risks.

    These principles are all reflected in some of the licensing obligations clubs will face. For example, to support their application for a provisional licence, clubs will be expected to prepare, among other things, a strategic business plan, which will need to include a forecasted profit and loss statement, balance sheet and statement of cash flows, as well as details on the source of funding. Clubs will also be expected to answer “standardised questions” on issues such as their business operations, fan engagement and corporate governance, and include “forward-looking information” – including about their finances – that covers up to the end of the 2027-28 season.

    In relation to financial regulation, the IFR also made clear that it will not take a ‘one-size-fits-all’ approach, instead promising to “set high level expectations that clubs can apply in ways best suited to their own business models” and to tailor its intervention to address “specific risks”.

    The IFR intends to focus its resources on clubs it considers to be at greatest risk of financial distress and failure and, while it said its “focus will be on prevention and addressing the root causes of financial instability, rather than penalising clubs”, it gave examples of licence conditions it could decide to impose on clubs in financial distress. These include requiring clubs to maintain a cash liquidity buffer in a separate account; placing limits on debts that clubs can incur; and placing restrictions on a club’s expenditure.

    More detailed rules and guidance regarding financial regulation will be developed for separate consultation in 2026.

    Watkins led a fan buy-out of AFC Bournemouth in 1997, when the club faced bankruptcy, and went on to become club chairman and a divisional director to the EFL board. He said English football is on the cusp of a major regulatory overhaul. Having established Supporters Direct with the UK government, Watkins believes the IFR creates a tipping point for owners, investors, funders and executives of clubs,

    “The new regulatory regime represents major change for the football industry in England,” Watkins said. “While the action continues apace on the pitch, football clubs in England have work to do off it to prepare for the new regime taking effect next season. As the IFR’s consultation makes clear, there are significant steps to take to meet the new licensing requirements which are intertwined with the financial regulations that clubs will also be subject to. The current investment, financial and operational models of clubs are going to be tested and with real consequences if breaches occur.”

    The IFR will take over the main responsibilities for regulating the finances of football in England from the footballing authorities. The establishment of the IFR is provided for under The Football Governance Act 2025, which came into force during the summer.

    The IFR’s main objective is to ensure the financial stability and sustainability of English football, ensuring that clubs have sound corporate and financial governance in place. In total, 116 clubs across the Premier League, the Championship, and divisions one and two of the English Football League (EFL), as well as the National League, are subject to its oversight. Safeguarding ‘the heritage of English football’ is also a statutory objective of the IFR.

    While the Act sets the framework for independent regulation, the detailed rules and requirements for the new regulatory regime will be set out by the IFR. The regulator has already been consulting on different aspects of the new regulatory framework that will operate – including now the licensing regime.

    Thorneloe, who specialises in public law, said: “The IFR’s statements make clear it intends to focus its efforts on monitoring clubs most closely where there is evidence a club is in financial distress, or at risk. Its consultation offers clubs an opportunity to influence the new rules and guidance, to ensure the IFR takes a sensible and pragmatic approach.”

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  • Squire Patton Boggs Advises JTC PLC on the Acquisition of Kleinwort Hambros Trust Company

    Squire Patton Boggs Advises JTC PLC on the Acquisition of Kleinwort Hambros Trust Company

    Squire Patton Boggs has advised JTC PLC on the acquisition of Kleinwort Hambros Trust Company (CI) Limited and its subsidiaries from Swiss private bank Union Bancaire Privée (UBP). The acquisition, which was first announced in July 2025, completed on 31 October 2025 following receipt of change of control and other regulatory approvals.

    The Squire Patton Boggs team advising JTC on the transaction was led by London Corporate director James Bradshaw and partner Julian Thatcher, assisted by Isabelle Sadler, Tom Currie, Sim Basran and Hetty Tomlin.

    FTSE-listed JTC is a global professional services business with deep expertise in fund, corporate and private client services. This latest acquisition for JTC’s Private Capital Services division will bring further scale to its operations in the Channel Islands and the UK, including adding a UK trust business for the first time, and reinforces JTC’s market position as the leading independent provider of trust services globally.

    The same Squire Patton Boggs team advised JTC on its acquisition of independent professional services firm Hanway Advisory in July 2024, enhancing and adding further scale to JTC’s Global AIFM Solutions business.

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