Category: 3. Business

  • Tesla link giving Samsung Texas chip fab huge boost

    Tesla link giving Samsung Texas chip fab huge boost

    The Samsung Smart Monitor M9 is gaining rave reviews from leading outlets. The product is being praised around the world for stunning picture quality, intelligent features, and gaming-ready performance on top of OLED technology.

    Today, Samsung highlighted Smart Monitor M9 reviews by leading outlets like HomeTheaterReview, Techaeris, and Tom’s Guide. It also shared a summary of what leading tech outlets are saying about its M9 monitor.

    Samsung’s Smart Monitor M9 introduces the brilliance of a 4K OLED display with built-in Smart TV Apps, AI-powered features, and Gaming Hub to deliver a seamless experience, making it the ultimate all-in-one screen.

    The Smart Monitor M9 is a smart entertainment hub, which unlocks built-in access to Netflix, YouTube, Samsung TV Plus, and Samsung Gaming Hub to enable cloud-based gaming and content streaming without the need for a PC.

    Here’s what reviewers say:

    HomeTheaterReview

    Leading tech review outlet HomeTheaterReview described the M9 as “one of the most impressive displays money can buy,” pointing to a responsive performance and “color accuracy that creative professionals will drool over.”

    “Imagine a monitor so capable, you might forget to connect a computer,” wrote HomeTheaterReview, which awarded the M9 five stars and an “Editors’ Choice” distinction.

    Tom’s Guide

    Tom’s Guide wrote, “The new M9 offers a significant upgrade over its predecessor thanks to its 32-inch 4K QD-OLED panel, which dramatically enhances contrast and color for an improved movie-watching experience.”

    The reviewer at Tom’s Guide wrote, “During my time with the M9, I came to the conclusion that it’s a huge leap forward from its predecessor, offering more than enough advancements to justify a price increase.”

    Techaeris

    Tech outlet Techaeris rated Samsung’s M9 a 9.7 out of 10, calling its QD-OLED panel “one of the best you’re going to find on any monitor,” and noting the display “looks spectacular” with colors that “pop” and brightness that “doesn’t wash out the colors.”

    Also, Techaeris named the M9 a Top Pick of 2025.

    “With a brilliant 4K QD-OLED display, 165Hz refresh rate, Smart TV apps, Gaming Hub, and more, this is a do-it-all monitor and TV, perfect for work and play,” wrote Techaeris.

    Source – Samsung

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  • Vestas – Interim Report, Second Quarter 2025

    Vestas – Interim Report, Second Quarter 2025

    Company Announcement:

    Vestas Wind Systems A/S, Aarhus, 13 August 2025
    Company Announcement no. 20/2025

    Quarterly revenue of EUR 3.7bn with an EBIT margin before special items of 1.5 percent. Order intake of EUR 2.2bn and combined order backlog of EUR 67.3bn. Full-year guidance maintained.

    In the second quarter of 2025, Vestas generated revenue of EUR 3,745m – an increase of 13.6 percent compared to the year-earlier period. EBIT before special items amounted to EUR 57m, resulting in an EBIT margin before special items of 1.5 percent, compared to (5.6) percent in the second quarter of 2024.

    Adjusted free cash flow amounted to EUR (227)m compared to EUR 524m in the second quarter of 2024.

    The quarterly intake of firm and unconditional wind turbine orders amounted to 2,009 MW, a 44 percent decrease from second quarter 2024. The value of the wind turbine order backlog was EUR 31.4bn as at 30 June 2025.

    In addition to the wind turbine order backlog, at the end of the quarter, Vestas had service agreements with expected contractual future revenue of EUR 35.9bn. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 67.3bn – an increase of EUR 4.3bn compared to the year-earlier period.

    The full-year guidance is maintained: Revenue is expected to range between EUR 18bn and 20bn. Vestas expects to achieve an EBIT margin before special items for the Group of 4-7 percent, and total investments1) are expected to amount to approx. EUR 1.2bn in 2025.

    Group President & CEO Henrik Andersen said: “Vestas increased its revenue 14 percent year-on-year to EUR 3.7bn and achieved an EBIT margin of 1.5 percent in the second quarter of 2025, ensuring we remain on track for our 2025 outlook. The results were driven by improved onshore project performance and lower warranty costs but offset by investments in offshore ramp-up to deliver the first V236-15.0 MW projects and build the foundation for Vestas’ long-term success in Offshore. Our Service business delivered solid results in the quarter, and we made progress on the recovery plan. In the quarter, we had good order momentum in EMEA, but political uncertainty impacted key markets, and Vestas continues to work with customers, partners and governments to address market challenges and help build affordable, secure and sustainable energy systems. We want to thank our customers, partners and colleagues for their continued engagement and support.”

    Key highlights

    Revenue of EUR 3.7bn
    Increase of 14 percent YoY.

    EBIT margin of 1.5 percent
    Improved Onshore project performance and lower warranty costs offset by Offshore ramp-up costs.

    Order intake of 2.0 GW
    Lower order intake YoY as customers have been awaiting policy clarity, particularly in the USA.

    Manufacturing ramp-up driving costs and investments
    Onshore and Offshore ramp-up is progressing, and first V236 nacelle assembled at facility in Poland.

    ROCE of 11.5 percent (LTM)
    Improved profitability in the last twelve months results in highest return on capital employed (ROCE) since 2020.

    2025 Outlook
    Guidance maintained.
     

    1) Total cash flows from the purchase of intangible assets and property, plant, and equipment, net of proceeds from the sale of intangible assets and property, plant, and equipment.

    Conference call
    On Wednesday 13 August 2025 at 10 am CEST (9 am BST), Vestas will host a conference call with a presentation on the results. The presentation will be audiocast and can be viewed live or replayed via vestas.com.

    The presentation will be held in English and will conclude with a Q&A. Details on how to register for the Q&A are to be found at vestas.com/en/investor.

    Contact details
    Vestas Wind Systems A/S, Denmark

    Investors/analysts:
    Daniel Patterson,
    Vice President, Investor Relations
    Tel: +45 2669 2725

    Frederik Holm Jacobsen
    Senior Specialist, Investor Relations
    Tel: +45 2835 3365

    Media:
    Anders Riis,
    Vice President, Communications
    Tel: +45 4181 3922

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  • VEON Completes Sale of Beeline Kyrgyzstan

    VEON Completes Sale of Beeline Kyrgyzstan

    Dubai, August 12, 2025: VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), announces that it has completed the sale of its 50.1% indirect stake in Sky Mobile LLC, operating under the Beeline brand in Kyrgyzstan, to Open Joint Stock Company “Eldik Bank” (“Eldik Bank”). The transaction was completed following receipt of all necessary regulatory approvals.

    This transaction follows VEON’s previously announced strategy to simplify its group structure and optimize its portfolio, focusing on countries with larger populations and with opportunities to grow multiple scalable digital businesses in addition to its connectivity offerings.

    The sale was conducted through Menacrest AG, the parent company of Sky Mobile LLC1. After VEON announced its intent to sell its stake in Beeline Kyrgyzstan to CG Cell Technologies on March 26, 2024, the Government of the Kyrgyz Republic exercised its right of first refusal and designated Eldik Bank, a state-owned financial institution, to acquire 100% of Sky Mobile LLC for and on behalf of the Government. As previously announced, the parties then entered into negotiations regarding the terms of the sale. Eldik Bank paid the full transaction value upon completion.

    “The sale of our Kyrgyzstan operations marks another important step in VEON’s portfolio optimization,” said Kaan Terzioglu, VEON Group CEO. “Beeline Kyrgyzstan has excelled in expanding 4G coverage and advancing our digital operator model, and we are confident this exceptional team will continue to thrive under Eldik Bank’s ownership. We thank our joint venture partner, Verny Capital, and the Government of Kyrgyzstan.”

    1VEON holds a 50.1% indirect stake in Menacrest AG, and the remaining 49.9% is held by Crowell Investments Limited, part of Verny Capital Group.

    About VEON
    VEON is a Nasdaq-listed digital operator that provides converged connectivity and digital services to about 160 million customers. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. For more information visit: www.veon.com.

    Disclaimer 
    This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s strategy and investment plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. 

    Contact Information 

    VEON 
    Hande Asik 
    Group Director of Communications 
    pr@veon.com

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  • Sam Altman Announces New GPT-5 Features: Model Selection, Rate Limits, and Personality Tweaks

    Sam Altman Announces New GPT-5 Features: Model Selection, Rate Limits, and Personality Tweaks

    Just days after unveiling GPT-5, OpenAI CEO Sam Altman announced several new updates aimed at giving users more control and improving the AI’s performance overall. 

    In a post on X (formerly Twitter), Altman said users can now choose between three response modes: Auto, Fast and Thinking, for GPT-5. “Auto” remains the default, but the other options let people prioritise speed or deeper reasoning. 

    The latest update also sets new rate limits. Users can send 3,000 messages per week using GPT-5 Thinking. After that, they will have extra access through GPT-5 Thinking mini. The context limit for GPT-5 Thinking is now 196,000 tokens, allowing for much longer conversations and documents. 

    In response to user feedback, the GPT-4o is back in the model picker for all paid users. A new toggle in ChatGPT’s web settings will let subscribers see additional models like o3,4.1, and GPT-5 Thinking mini. The more powerful GPT-4.5 remains exclusive to Pro users due to high computing costs.

    Altman also revealed that work is underway to make GPT-5’s personality feel “warmer” without being overly chatty, a balance users said they want. He hinted at future customisation options so that people can set their preferred personality style.

     The announcement follows a rough first week for GPT-5. In a Reddit post, Altman admitted the model “felt way dumber” for several hours after an autoswitcher glitch, which is the tool that selects the best AI model for each query, went offline.  The issue has been fixed and OpenAI says the model-selection system is now smarter and will show which model is replying. 

    GPT-5 is the new AI model launched by OpenAI. The company calls it its “smartest, fastest, most useful model yet, with built-in thinking that puts expert-level intelligence in everyone’s hands.” The AI model saw a rough start with many ChatGPT fans criticising the AI model for being too flat and soulless. Many bashed the company for dropping the GPT-4 without any warning. It seems that these complaints have been heard by the company and it is now focusing on improving the experience overall. 

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  • Investigation of the mechanical properties of pineapple leaf fibre-reinforced biocomposites

    Investigation of the mechanical properties of pineapple leaf fibre-reinforced biocomposites

    Tensile test of PALF

    The mechanical performance of Pineapple Leaf Fibre (PALF)-reinforced polymer composites was evaluated through tensile testing, following ASTM standards for specimen preparation. The specimens were subjected to testing using an Electronic Tensometer (Model PC-2000), equipped with a 20 kN load cell, operating at a crosshead speed of 5 mm/min. A gauge length of 50 mm was maintained during the tests, which were conducted at a controlled temperature of 28 °C and 50% relative humidity. During testing, the specimens were gradually loaded until failure, and key mechanical properties such as tensile strength and elongation at break were recorded. The fracture typically occurred at the midpoint of the gauge length.

    Figure 7 illustrates the tensile testing results as a line graph, demonstrating a smooth and gradual transition of the stress-strain curve. This indicates consistent load transfer and uniform mechanical behavior between layers of the composite. The observed graph supports the hypothesis of a well-bonded and homogeneously distributed fiber-matrix interface, which ensures a continuous and reliable performance across the composite material. These characteristics are crucial for the accurate estimation of intermediate property values, confirming the robustness of the material under tensile stress.

    From the results shown in Fig. 7, it can be inferred that the composite with a 5% volume fraction of PALF reinforcement in a polyester resin matrix exhibited an ultimate tensile strength of 9 MPa. This finding is consistent with previous research, which suggests that PALF, owing to its higher aspect ratio (AR), cellulose content, and crystallinity, can significantly improve the tensile strength of composites. However, it is important to note that the hydrophilic nature of cellulose could negatively influence the tensile properties if the fiber’s moisture content is not controlled. Additionally, the incorporation of compatibilizers into the matrix has been shown to enhance the interfacial bonding between the PALF fibers and the resin. Throgh promoting a more homogeneous fiber dispersion and reducing fiber aggregation, compatibilizers improve the mechanical strength of the composite and prevent premature failure due to fiber pull-out.

    Furthermore, the uniform fiber-matrix interaction reduces the likelihood of fracture propagation within the composite, thereby enhancing the overall tensile performance. The improvements in the tensile strength and elongation at break are attributed to the effective dispersion of fibers within the matrix, which minimizes defects and stress concentrations within the material. These findings align with the results of previous studies, emphasizing the critical role of fiber treatment, matrix compatibility, and fiber orientation in determining the mechanical properties of PALF-reinforced biocomposites. The tensile testing results demonstrate that PALF-reinforced composites exhibit significant potential for use in a variety of structural applications, particularly where strength, durability, and eco-friendliness are prioritized. Further investigations into optimizing fiber treatments and resin formulations will likely yield even stronger, more versatile biocomposites.

    Fig. 7

    Ultimate Tensile Strength and Load Vs Layers.

    Elemental composition analysis using energy dispersive X-ray spectroscopy (EDS)

    Energy-dispersive X-ray spectroscopy (EDS) is a highly effective analytical technique used to determine the elemental composition of materials16. In this method, an electron beam is directed at the sample, causing the atoms within the material to emit characteristic X-rays. These emitted X-rays are captured and analyzed by an energy-dispersive detector, generating an elemental spectrum. The peaks in the spectrum are indicative of specific elements, enabling both qualitative and quantitative analysis of the sample’s composition. EDS is extensively applied in fields such as materials science, forensics, and geology, owing to its ability to provide detailed compositional information at micron to nanoscale resolutions. This makes EDS particularly valuable for tasks like trace element identification, elemental mapping, and chemical characterization of materials. Additionally, when combined with scanning electron microscopy (SEM) 17, EDS enhances the ability to investigate both the elemental composition and the morphological characteristics of the sample. The SEM results for the 2, 4, 6, and 8-layer PALF composites are presented in Fig. 8a–d, respectively.

    In this study, EDS was performed on pineapple leaf fibre (PALF) composites with varying layer configurations (2, 4, 6, 8 layers) as shown in Figs. 9, 10, 11 and 12. The analysis revealed that the composition of the PALF composites is predominantly carbonaceous, with oxygen as the next most abundant element. Trace elements such as sodium, silicon, niobium, and magnesium were also detected. The total elemental composition of the samples summed to 100.00 weight%, with one standard deviation (1 Sigma) accounting for the associated uncertainty in the measurements. These results highlight the carbon-rich nature of PALF composites, which may have significant implications for their potential applications in industries where carbon-based materials are highly valued. The precision in elemental characterization achieved through EDS plays a crucial role in material quality control and further aids in the development of these biocomposites for various engineering applications.

    Fig. 8
    figure 8

    SEM results: (a) 2, (b) 4, (c) 6, and (d) 8 layers.

    Fig. 9
    figure 9
    Fig. 10
    figure 10
    Fig. 11
    figure 11
    Fig. 12
    figure 12

    Implications of elemental composition on the mechanical and functional properties of PALF composites

    The distinctive characteristics of carbon-rich pineapple leaf fibre-reinforced biocomposites (PALF) position them as a versatile and promising material with significant potential across various applications. The high carbon content within these composites is a key factor contributing to their mechanical strength and electrical conductivity, though the specific form of carbon and its arrangement within the composite matrix are critical factors influencing performance. The examination of the elemental analysis reveals a substantial carbon content in the PALF composites, suggesting potential improvements in the mechanical properties and overall durability of the material.

    With carbon constituting over 66% of the composite, the resulting material demonstrates exceptional structural strength, making it ideal for applications requiring high performance. The intrinsic rigidity and durability of carbon make it a prime candidate for reinforcement, contributing to improved tensile strength and modulus. As such, carbon-rich PALF composites possess characteristics that render them well-suited for structural applications where both lightness and strength are paramount. Examples of such applications include aerospace components, automotive parts, and biomedical equipment, where high-performance materials are essential.

    Moreover, the presence of oxygen and trace elements such as niobium and potassium adds further potential to the composite’s capabilities. Oxygen, as a functional component, may enhance the material’s compatibility with specific polymer matrices, thereby improving the bonding at the interface between the fibre and the matrix, ultimately leading to improved mechanical properties. The inclusion of niobium and potassium can also enhance specific performance traits, such as corrosion resistance and catalytic activity. These features open up additional possibilities for the use of PALF composites in industries such as chemical engineering, electronics, and environmental remediation. The high carbon content of PALF composites presents a significant opportunity for the development of advanced materials with tailored characteristics. This makes them particularly appealing for diverse industrial applications that prioritize strength, durability, and performance. The unique combination of mechanical and functional properties makes PALF composites a promising material for a wide array of applications requiring both structural integrity and specialized performance. Also, the carbon content not only carbon content alone does not directly dictate strength. Fiber orientation, matrix adhesion, and dispersion also play a crucial role in defining mechanical properties.

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  • Japan Bond Auction Spotlights Fragile Demand And Rate Hike Fears

    Japan Bond Auction Spotlights Fragile Demand And Rate Hike Fears

    Japan’s five-year government bond auction saw the lowest demand since 2020 amid the prospect of tighter monetary policy and renewed concerns over poor market liquidity.

    The sale nudged bond prices lower across maturities from two- to 20-years, and yields on five-year securities rose as much as 3 basis points to 1.07% before easing slightly. The bid-to-cover ratio was 2.96, compared with 3.54 at the prior sale and the 12-month average of 3.74.

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  • Nuclear fusion firms pledge 1,000 jobs at old Berkeley nuclear site

    Nuclear fusion firms pledge 1,000 jobs at old Berkeley nuclear site

    Dave Harvey

    Business and environment correspondent, BBC West

    BBC Two men shake hands, standing on a large empty field.  Both wear blue blazers, the one on the right wears a pink shirt and has a grey beard. Behind them is an old green and brown concrete building, the former nuclear reactor.BBC

    Chris Turner (L) of Chiltern Vital Group and Bill Eden from Quantum Leap Energy are working on the plans at the former Berkeley nuclear power station

    Two nuclear energy companies have signed deals to create technology centres at a former nuclear reactor site.

    Berkeley nuclear power station in Gloucestershire was shut down in 1989, but a developer now wants to build a “nuclear centre of excellence” on the site.

    Quantum Leap Energy and Astral Systems have signed deals to set up plants there.

    Bill Eden, from Quantum Leap Energy, promised “hundreds of jobs” creating fuel for nuclear fusion.

    He said: “Nuclear fusion is now the technology of tomorrow, not of distant years.”

    Chris Turner, CEO of developers Chiltern Vital Group, said Berkeley will become “the centre of the world” in nuclear, low carbon, green technologies, and “up to 1,000” jobs would be created if the plans went ahead.

    In the shadow of the old reactor lies a maze of old buildings, mostly empty and derelict. Lying next to the River Severn at the end of a single track road, it’s a quiet place. And the former nuclear station, still being decommissioned, lends it a chilling edge.

    The man who has bought the site has big dreams. Mr Turner’s “centre of the world” comment is a bold claim, the sort many people make, so I asked him to introduce me to some real investors.

    Chiltern Vital Berkeley A computer generated picture showing a number of buildings next to a river. The buildings have a mixture of green and white roofs with solar panelsChiltern Vital Berkeley

    The plants would be built next to the former Berkeley power station

    He found two. Bill Eden works for the UK arm of American firm, Quantum Leap Energy. Like most of the firms in this venture, the technology is complex. But my basic understanding of it is that they make fuel for the nuclear fusion industry.

    “Nuclear fusion?”, I asked Mr Eden, “is that a thing yet?”

    “There is so much research going on,” he reassured me. “It needs specific fuel to make it work, and we are going to produce that here, at Berkeley.”

    He said they could be commercial within two years.

    ‘Targeted radiotherapy’

    Talmon Firestone’s tech is even harder to get to grips with. Also nuclear, but this time harnessing physics for medicine.

    “This is targeted radiotherapy,” he explains.

    “Far more effective, and far more pleasant for the patient.”

    Nuclear medicine is not new tech. Hospitals round the country use it all the time to find and treat cancer. Small amounts of radioisotopes are injected, which find their way direct to tumours. Once there, they show up under scans so the extent of disease can be identified.

    The same technology can also be used to direct radiotherapy specifically to the site of the cancer.

    But the UK has to import all the vital radioisotopes used in this medicine from reactors in Europe.

    In 2024, the supply chain was interrupted when two of them shut down for planned maintenance at the same time, and then the third sprung a fault.

    “Something like 75% of our supply was lost,” said Dr Stephen Harden, from the Royal College of Radiologists.

    “It makes a really strong case for making these radioisotopes in the UK.”

    Two men stand behind a steel tube, which is chest high. One wears a light blue shirt, the other a navy shirt. Both have beards and are smiling. The steel tube is topped with a ring of brass coloured valves. Behind them is a big green industrial building.

    Talmon Firestone (L) and Dr Tom Wallace-Smith say their new fusion reactor will supply hospitals with vital nuclear medicine materials

    Working with Dr Tom Wallace-Smith of Bristol University, Mr Firestone’s company has found a new way to make these vital nuclear ingredients, without using a big nuclear fission reactor.

    He showed me his latest array, a steel tube barely two metres tall.

    The problem is that to run his fusion reactors at full strength they need serious protection. At Berkeley, there is an old building, called C35, which is just the trick.

    “C35 has a deep bunker, created to store nuclear waste, but never actually used,” he smiled.

    “For us, it’s the perfect place to carry out our research, and then eventually produce the radioisotopes at scale.”

    A piece of steel scientific equipment stands in front of a group of scientists, some of whom wear white lab coats. There are four steel discs arranged around a central glass disc, with other equipment bolted on

    Scientists at Astral Systems labs in Bristol are using nuclear fusion to create radioisotopes used by doctors to treat cancer

    Old, unused bunkers, nuclear fusion fuel, buildings with codenames, it’s all very sci-fi.

    Mr Turner clearly relishes it all. And he has more, he says, in his nuclear pipeline.

    “We’re negotiating with the South Koreans about world-leading maritime nuclear technology.

    “We’re talking to a whole range of international companies about different nuclear and zero carbon technologies.”

    Developers always make big claims, it’s their business. Chiltern Vital Group is about to submit a planning application and then will have to deal with more mundane matters.

    Among them, how a small country road will cope with hundreds of tech workers commuting down it every day.

    Transport links needed

    The promise of new jobs was welcomed by Berkeley town councillor, Liz Ashton.

    “It will generate lots of high level tech jobs which is what we need in the area.

    But she raised concerns about the impact of the development on transport links.

    “There are lots of problems regarding the motorway junctions. They really need to revive a good public transport system, so people won’t be coming in their cars.”

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  • Dairy farmers say worker shortage is threatening UK food security | Farming

    Dairy farmers say worker shortage is threatening UK food security | Farming

    Dairy farmers have warned that a long-running shortage of workers, exacerbated by Brexit and the pandemic, has put the UK’s food security under pressure.

    Five in six farmers who have looked for workers said they have received very few or zero applications from qualified people for their job vacancies, according to a survey of dairy producers by Arla, the UK’s largest dairy cooperative and the owner of the Lurpak and Cravendale brands.

    The fifth annual poll of Arla’s 1,900 British dairy farmers has highlighted the worsening struggle to find workers with the right skills and experience, with 79% of farmers highlighting this problem in 2021, rising to 84% this year.

    The difficulties in hiring staff had grown worse since Brexit and the pandemic, milk producers reported, as the combination of the end of free movement for EU workers and other economic factors since Covid have made it harder to find suitable staff, while there has been a similar story across the whole of the agricultural sector.

    Nearly half (48.6%) of those surveyed said it was now harder to retain staff than it was before Brexit and the pandemic, while only 5% said the situation had improved.

    More than one in 10 (13%) respondents said they would leave farming altogether in the next 12 months if there was no improvement in labour shortages, and 6% said they had been forced to cut the amount of milk they produced.

    Arla itself has seen a reduction in milk producers over the past few years, although production volumes have remained constant. Its membership has fallen by about 300, from 2,100 three years ago, as farmers have retired or through consolidation of farms, amid a trend for keeping larger herds. Arla members represent almost a third of all UK dairy farmers.

    Nearly 200 British dairy farmers quit the industry over the 12 months to April 2025, according to the most recent figures from the Agriculture and Horticulture Development Board (AHDB), taking the total number of producers to 7,040.

    The industry has been warning for some time that a continued exodus of dairy farmers could jeopardise the UK’s current self-sufficiency in liquid milk.

    “What we’re seeing is the real impact of these workforce shortages on our farming industry, whether that’s in higher costs or lower milk production,” said Bas Padberg, managing director of Arla Foods UK.

    “The effect of this is ultimately going to be seen in the price and availability of products on the supermarket shelves, affecting the millions of people that rely on dairy as a source of nutrition in their diet.”

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    Arla – which, like other companies, runs its own apprenticeship schemes as well as industrial placements – said the government had acknowledged the ongoing difficulties with recruiting staff, and welcomed the focus on talent and development as part of the upcoming food strategy.

    However, Padberg called for “practical steps that the industry, the education sector and government can take together” to attract more people, especially younger workers, to the dairy sector.

    Dairy, like much of the rest of agriculture, has an ageing workforce and nearly half (47%) of farmers are aged 55 and over. Younger workers are most likely to enter the industry if it is in the family: two-thirds (66%) of farmers said their farms had been passed down at least four generations, while only 3% of respondents said they were first-generation.

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  • Verra’s Biochar and Forest Management Approaches Endorsed by ICVCM as High-Integrity Solutions

    Verra’s Biochar and Forest Management Approaches Endorsed by ICVCM as High-Integrity Solutions

    WASHINGTON – Aug. 13, 2025 | Verra is proud to announce that the Integrity Council for the Voluntary Carbon Market (ICVCM) has approved the Verified Carbon Standard (VCS) Program’s biochar and improved forest management (IFM) methodologies (VM0044, v1.2 and VM0045, v1.2) as meeting the Core Carbon Principles (CCP) criteria. With this approval, the ICVCM recognizes both methodologies as meeting the highest global benchmarks for scientific rigor and environmental integrity.

    Verra’s biochar methodology, VM0044 Biochar Utilization in Soil and Non-Soil Applications, v1.2, sets a new benchmark for the responsible production and use of biochar: a highly stable form of carbon that, when applied to soil or incorporated into durable products, locks carbon away for centuries.

    VM0045 Improved Forest Management Using Dynamic Matched Baselines from National Forest Inventories, v1.2, one of Verra’s IFM methodologies, introduces a groundbreaking approach to forest carbon accounting by moving away from static, model-based baselines and instead using continuously monitored, real-world forest inventory data to establish dynamic baselines.

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  • South Korean crypto mogul Do Kwon pleads guilty to fraud | Crypto

    South Korean crypto mogul Do Kwon pleads guilty to fraud | Crypto

    Cryptocurrency entrepreneur faces up to 25 years in prison over the $40bn collapse of the TerraUSD and Luna tokens.

    South Korean cryptocurrency mogul Do Kwon has pleaded guilty to fraud in the United States in a case tied to the $40bn collapse of the TerraUSD and Luna tokens.

    Kwon, the cofounder of Singapore-based Terraform Labs, entered the plea at the Southern District of New York on Tuesday, according to court filings.

    Kwon admitted to one count of conspiring to commit commodities fraud, securities fraud and wire fraud, and one count of committing wire fraud.

    As part of his plea, the crypto entrepreneur agreed to forfeit more than $19m in proceeds from his crimes, according to prosecutors.

    Kwon had in January entered a plea of not guilty to nine counts in the case, including securities fraud, wire fraud and money laundering conspiracy.

    “Do Kwon used the technological promise and investment euphoria around cryptocurrency to commit one of the largest frauds in history,” US Attorney Jay Clayton said.

    “Kwon attracted tens of billions in funds to Terraform’s ecosystem by promising a self-stabilising stablecoin. By the time the markets discovered the ecosystem was unstable, it was too late: the system collapsed, and investors around the world suffered billions in losses.”

    Kwon, who is due to be sentenced on December 11, faces a maximum penalty of 25 years in prison.

    Kwon was extradited to the US in December 2024, following his arrest in Montenegro after spending months on the run from authorities.

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