Business

BT to buy broadband supplier TalkTalk in £400m rescue deal, saving 900 jobs
Posted on Monday October 05, 2026

Virgin Media O2 complains of ‘stitch-up’ over rival provider, which has 1.5m customers

Nils Pratley: BT’s purchase of TalkTalk is cosy – but probably politically sensible

BT has agreed to buy the broadband supplier TalkTalk out of administration in a £400m rescue deal that will save 900 jobs.

The company said it had struck a deal to acquire TalkTalk and its wholesale business PlatformX Communications (PXC) on a debt-free basis, in a move that is expected to cost it £400m.

Sainsbury’s and Morrisons ‘held talks this year’ on multibillion-pound merger
Posted on Monday October 05, 2026

Deal would have created a supermarket with a market share of 23.6%, still well behind Tesco’s 27.8%

Sainsbury’s held merger talks with rival Morrisons this year to discuss a multibillion-pound deal that would have been the biggest shake-up for UK supermarkets in decades, according to reports.

The two companies held exploratory negotiations, according to the Financial Times and Sky. It is believed they are no longer in live discussions.

Euro falls to 17-month low against dollar amid French debt fears
Posted on Monday October 05, 2026

France’s Cac 40 index slides as announcement of snap election in Spain also helps fuel eurozone uncertainty

Business live – latest updates

The euro has slumped to the lowest level against the dollar in 17 months amid growing concern France’s debt position could threaten the stability of the wider single currency bloc.

The single currency fell as much as 0.8% against the dollar in early trading on Monday to below $1.12, its lowest level since May 2025. It has slumped by about 1.2% this month, accelerating a drop of about eight cents against the greenback from a peak of $1.20 in January.

Average five-year fixed mortgage rate hits 6% for first time in three years
Posted on Monday October 05, 2026

Banks and building societies raise prices as turmoil in bond markets increases expectations of base rate rise

The average cost of a five-year fixed-rate mortgage has hit the 6% barrier for the first time in three years, as jitters in the money markets make the loans more expensive for lenders to offer.

Figures from financial information provider Moneyfacts show the average is now 6.00%, its highest point since September 2023, while the average two-year fixed rate is not far behind at 5.98%, its highest since December of the same year.

Conservative plans to slash aid budget would ‘irreparably damage’ UK’s global credibility, charities say
Posted on Monday October 05, 2026

Party’s pledge to reduce aid budget from £9bn a year to £1bn to fund new prison places branded as ‘posturing’

Conservative plans to slash the aid budget by 90% would leave the UK unable to cover existing contributions to the UN and World Bank and “irreparably damage” Britain’s global credibility, several organisations and charities have told the Guardian.

In a series of announcements at the Tory party conference in Birmingham, Kemi Badenoch said that as prime minister she would reduce the aid budget from £9bn a year to £1bn, to part-fund 50,000 new prison places in England and Wales. The culture budget would also be slashed by £1bn a year to fund the plans.

Accept ‘bad things’ in return for benefits of AI, says Sam Altman
Posted on Monday October 05, 2026

Boss of OpenAI calls for a regulatory light touch because of the ‘good stuff’ the technology can deliver

Sam Altman says he believes the world should accept “bad things” happening with AI in exchange for the benefits of the technology.

The chief executive of OpenAI cited hacks, scams and “other bad things that will happen” in an interview that sparked an instant backlash from critics of the big AI companies. His comments came after one of his company’s safety experts resigned, saying at the weekend that its “culture is broken”.

UK reviewing whether to impose tariffs on Chinese car imports to align with EU
Posted on Monday October 05, 2026

Move would strengthen Britain’s case to be included in new legislation to protect European manufacturing

Business live – latest updates

The UK is reviewing whether to impose tariffs on Chinese car imports to align itself with the EU and strengthen its case to be included in new legislation designed to protect the European manufacturing sectors including autos and chemicals.

It is understood the EU has raised the question of tariffs with the UK as part of the discussions on the “Made in Europe” legislation, known as the Industrial Accelerator Act.