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Business Apr 15, 2026

UK's Largest Housebuilder Barratt Redrow to Cut Land Purchases Amid Geopolitical Uncertainty

Britain's largest housebuilder, Barratt Redrow, plans to significantly reduce land purchases due to…
Barratt Redrow, the UK's largest housebuilder, has announced plans to dramatically cut back on buying new land, citing the impact of geopolitical events in the Middle East. This move is expected to put additional pressure on Labour's ambitious target of building 1.5m new homes over five years.The company intends to approve between 7,000 and 9,000 plots of land for purchase in its current financial year, significantly lower than its previous guidance of 10,000 to 12,000 plots. This reduction follows an already cautious approach to land buying this year.The decision to curtail land buying plans has been attributed to geopolitical uncertainty, which is expected to impact mortgage rates and build costs. As a result, Barratt Redrow now expects to spend between £700m and £900m on land this year, down from its previous guidance of £800m to £900m.This move comes after another major UK housebuilder, Berkeley Group, announced plans to stop buying new land and implement a hiring freeze due to similar concerns over geopolitical volatility.Labour's housebuilding target of 1.5m new homes over five years has already faced challenges, with only 116,000 new homes started in England in the first year of Labour's term, falling short of the required 300,000 annually. The Centre for Policy Studies thinktank has highlighted the significant gap between the current rate of housebuilding and the target.Oli Creasey, head of property research at Quilter Cheviot, noted that Barratt Redrow's reduced land purchase guidance, combined with Berkeley Group's decision to slow land purchases, raises concerns about the housebuilding sector's outlook.In related news, Barratt Redrow has confirmed its £100m target for cost cuts following its £2.5bn takeover of Redrow in 2024, with £20m in savings achieved last year and £50m expected this year.
#Barratt #Redrow #Labour
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Politics Apr 13, 2026

HS2 Train Size Change Sparks Fears of Reduced Capacity and Slower Services

Plans to change the size of HS2 trains could lead to reduced capacity and slower services north of …
Plans to alter the size of HS2 trains, aimed at maximizing capacity, may result in increased costs and fewer seats, potentially leading to slower services north of Birmingham. A senior government and rail industry figure, Chris Gibb, has warned against changing the train order.The original £2bn order for 54 high-speed trains, to be built by a joint venture of Alstom and Hitachi, was placed in 2021. However, the project has been under review since the cancellation of the northern leg of HS2 by Rishi Sunak in 2023. The initial plan was for the 200-metre, eight-carriage units to double into 16-carriage trains, similar in size to a Eurostar. But this will only be feasible on the new line between London and Birmingham, as existing stations like Manchester Piccadilly cannot accommodate a 400-metre train.Gibb, a non-executive director of DfT Operator, expressed concerns that if HS2 opens with eight-coach trains, they would be full, leaving people behind. He suggested that instead of varying the train order, which could incur extra costs and delays, the government should retain the original order and plan to replace the current Pendolino fleet with longer, faster, modern versions around 2040.This approach, Gibb argued, would provide a significant increase in capacity, revenue, and a reduction in journey times on all routes without the need for further railway construction. Lord McLoughlin, former transport secretary, and Lord Berkeley, a long-term HS2 sceptic, have backed Gibb's idea, emphasizing the importance of consistent rolling stock for future use.A spokesperson for HS2 Ltd stated that no changes have been made to the original order, and they are still working closely with the manufacturer and the DfT to finalize train designs. The trains will be built in Derby and Newton Aycliffe.
#HS2 #Department for Transport #Network Rail
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Tech Apr 08, 2026

Databricks Co‑Founder Matei Zaharia Wins ACM Prize, Says AGI Is Already Here

Databricks co‑founder and CTO Matei Zaharia was announced as the 2026 recipient of the ACM Prize in…
Databricks Co‑Founder Secures Prestigious ACM PrizeMatei Zaharia, co‑founder and CTO of Databricks, learned on April 8, 2026 that he had won the ACM Prize in Computing. The surprise announcement highlighted his decades‑long influence on big‑data processing and the emerging AI ecosystem.From Spark to AI Foundations: Zaharia’s Technical JourneyWhile completing his PhD at UC Berkeley under Ion Stoica in 2009, Zaharia released Apache Spark as an open‑source project that dramatically accelerated big‑data workloads. Spark became the engine that powered the early data‑science wave, and its success seeded the creation of Databricks, which has since evolved into a cloud‑native AI and data platform.2009 – Spark open‑source launch2013 – Databricks founded2026 – ACM Prize awardedFinancial Scale of Databricks and the ACM PrizeDatabricks has raised more than $20 billion in venture funding, reaching a valuation of $134 billion and a revenue run‑rate of $5.4 billion. The ACM award includes a cash prize of $250,000, which Zaharia intends to donate to an as‑yet‑undetermined charity.Funding: > $20 BValuation: $134 BRevenue run‑rate: $5.4 BACM cash prize: $250 KImplications for AI Development and Industry Perception of AGIZaharia’s bold statement—“AGI is here already”—challenges the conventional view that artificial general intelligence is a distant goal. He argues that current models already exhibit general‑purpose capabilities, but humans tend to judge them by human standards, which can obscure their true potential.He also warned about the security risks of AI agents that mimic trusted human assistants, citing the example of the “OpenClaw” agent that could inadvertently expose passwords or spend money without user consent.Future Outlook: AI‑Driven Research and Security ChallengesLooking ahead, Zaharia envisions AI becoming a universal research assistant—automating biology experiments, enhancing data compilation, and providing “AI for search” tailored to engineering and scientific inquiry. He stresses the need for robust security frameworks as AI agents become more autonomous.AI‑augmented research across biology, engineering, and data scienceEmphasis on non‑hallucinating, reliable modelsUrgent call for security standards for AI agents
#Databricks #Matei Zaharia #ACM Prize in Computing
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Sport Apr 04, 2026

Will Sherman emerges as US rugby’s next star as Anthem breaks 32‑game losing streak ahead of 2031 World Cup

22‑year‑old second‑row forward Will Sherman, son of former Cal champion Wade Sherman, is being hail…
Will Sherman, a 22‑year‑old second‑row forward for Anthem Rugby Carolina, is quickly being labelled the next cornerstone of US rugby. The Charlotte‑based player combines a deep family legacy with a modern development pathway that could shape the national team ahead of the 2031 Rugby World Cup. Sherman’s rugby pedigree begins with his father, Wade Sherman, a member of the 1990s Cal Berkeley champion side that featured Mark Bingham – one of the heroic passengers on Flight 93. Wade’s own introduction to the sport came after a teenage trip to Australia’s Bondi Beach, where he and friends first saw the game and later founded a high‑school team in northern California before playing for Cal and BYU. He now serves as Will’s first coach. Raised in Utah’s vibrant Pacific Islander community, Sherman attended East High School, a hub for the state’s long‑standing rugby culture. Standing 6 ft 4 in and capable of playing both lock and flanker, he attributes his physicality and work ethic to the “hard‑knock” lessons learned on Utah pitches. After a stint at UCLA—where the club side operates with varsity‑level commitment but without the same resources—Sherman caught the eye of Australian coach Harry Bennett. Bennett’s mentorship helped Sherman earn a place on the US under‑23 tour of South Africa, a tour overseen by Argentine coach Agustín Cavalieri, now head coach at Anthem. In his MLR debut against the California Legion, Sherman logged roughly 50 minutes, received a yellow card for repeated infringements, and recorded 19 tackles. While impressive, it was eclipsed by the 36 tackles he made in a single match for Australia’s storied Randwick club last season, underscoring his rapid adaptation to elite competition. Anthem, backed by World Rugby as a development vehicle for the 2031 World Cup, endured a winless first two seasons (0‑32). The team finally broke the streak with a 39‑26 victory over the Legion, a game in which Sherman’s performance earned him the nickname “Wreck‑It Will” from college friends. Reflecting on the win, Sherman said the moment was “an amazing honor” and highlighted the broader significance: “Every game now feels like a first—our first win at home, our first win against Chicago—so the motivation keeps building.” He also praised the experience of matching up against veteran lock and Eagles captain Jason Damm, calling it “an honor to play against someone I’ve looked up to for so long.” Looking ahead, Anthem’s schedule includes a clash with the Chicago Hounds on ESPN+, a key step in the club’s quest to become a consistent pipeline for American talent ahead of the 2031 World Cup.
#sherman #rugby #you
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World Economy Apr 01, 2026

Berkeley Halts Land Purchases and Implements Hiring Freeze as Iran War Triggers UK Housing Market Shock, Forecasts £1.4bn Profit by 2030

London‑focused housebuilder Berkeley announced a stop to new land acquisitions and a hiring freeze …
Berkeley, one of Britain’s largest housebuilders, said it will cease buying new land and impose a hiring freeze as it confronts the impact of the Iran war and broader geopolitical volatility on the UK property market.The FTSE 100 company warned that a reduced likelihood of further interest‑rate cuts and soaring regulatory costs could weigh heavily on its business, prompting cost‑cutting measures that also include using fewer subcontractors.In a significant outlook revision, Berkeley now expects to generate more than £1.4 billion in pre‑tax profit between 2027 and 2030, a stark increase from the roughly £450 million it had forecast for the current year and 2027.Market reaction was swift: the company’s shares plunged up to 18 % on Wednesday morning, later recovering to sit about 13 % lower, making Berkeley the worst performer on the FTSE 100 that day.Berkeley’s statement noted that early‑2026 sales showed modest recovery, but “recent geopolitical events and the macro‑economic consequences, including reduced potential for further rate cuts, could reduce confidence in a near‑term market recovery.”The firm cited “unprecedented” increases in costs and regulation, alongside weak buyer demand, as reasons for halting land purchases, arguing it can no longer achieve a sufficient rate of return on new sites due to a continuous rise in tax and regulatory burdens.These challenges arrive as the UK government pushes to meet ambitious new‑home building targets, while the sector grapples with higher taxation, new building‑safety rules, and longer planning timelines—Berkeley estimates approvals now take about 12 months longer than before.The ongoing war in Iran has amplified inflation fears, lifted mortgage rates above 5 % and heightened mortgage‑cost pressures for consumers, according to Moneyfacts data.Competitors such as Barratt, Redrow and Persimmon have also suffered, each losing more than 20 % of their market value, underscoring the broader stress across the housing‑construction industry.Berkeley, headquartered in Surrey, employs over 2,500 people and focuses on brownfield regeneration projects. It holds land sufficient for 50,000 homes with an additional pipeline for 10,000 homes in London and the south‑east, but will slow construction on existing sites to match market demand and regulator approvals.
#new #land #berkeley
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