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Mike Ashley’s Frasers Group acquires Knightsbridge-headquartered retailer after it went into administrationBusiness live – latest updatesThe owner of Sports Direct has bought Harvey Nichols out of administration after the upmarket department store chain warned it could run out of money if it did not find new funding.Mike Ashley’s Frasers Group said on Thursday it had bought the department store chain, which is headquartered at its store in Knightsbridge, for an undisclosed sum on the s

Weaker growth, rising energy costs and persistent inflation mean Britain could face tougher times in the autumnUK economic growth slows downBusiness live – latest updatesIn the spring the International Monetary Fund warned Britain faced the heaviest economic blow from the Iran war among the world’s most advanced nations. Almost six months into the conflict, on the surface, the UK appears to be proving the forecasters wrong.The latest official figures show the UK maintained its pole pos

US envoy had claimed Americans could be extracting crude by as early as next yearGreenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president’s envoy that Americans could be extracting crude by next year.Amid Trump’s imperialist threats, tensions have been rising on Greenland’s eastern coast after the oil company brought drilling equipment ashore in July without permission, drawing a

Plans for hyperscale datacenter in Palm Beach county prompt concerns over water and electricity demandsAbout 16 miles (26km) south-west of Donald Trump’s Mar-a-Largo estate, near the northern edge of the Florida Everglades, developers have proposed a hyperscale datacenter on a 202-acre (82-hectare) parcel of land surrounded by water. Local environmentalists warn that the proposed 600MW datacenter in western Palm Beach county could damage the wetlands, which the federal government and t

Verdant thinktank says cost could top £25bn a year by 2030 and calls for maximum temperature for working and urban redesign to cool down citiesRepeated debilitating heatwaves this summer are likely to have cost the UK economy more than £4bn in lost economic output by the end of July, new analysis shows.Green thinktank Verdant had suggested June’s unseasonally hot weather had an economic cost of £2.36bn. Updating its assessment to include last month’s high temperatures, it finds a £4.4b

The Comac C919 will fly from Beijing to Ulaanbaatar in Mongolia, although experts say it could take generations for it to challenge the west’s dominance of the industryChina hopes to break into the world of commercial aviation with the first international flight of a Chinese-made passenger jet scheduled for Wednesday.The Comac C919 will take off from Beijing capital international airport at 3pm, landing in Ulaanbaatar, the capital of Mongolia, just over two hours later. Continue readin

Gianni Infantino is under increasing scrutiny following his World Cup sell-off plan. We look at each confederation’s relationship with the presidentThe pressure is growing on the Fifa president, Gianni Infantino, with many countries withdrawing their support following the bungled World Cup sell-off. However, how key is Infantino’s relationship with each confederation and is it likely that an election contest will actually happen? We look at the key considerations, confederation by conf

Ben Cohen says his ice cream company has been silenced by corporate ownership – and a boycott of Magnum brands could force a saleBen & Jerry’s ice cream in the tub is still great, but the brand’s newest chocolate-covered ice cream bar on a stick?“It ain’t the same,” Ben Cohen, th

Timing of Devon switchoff ‘could not be worse’, says board, as members face an estimated £2m in lost revenue Britain’s biggest community solar project has been forced to shut for the duration of its first summer by the government’s energy system operator to avoid overloading the local grid with renewable energy.The north Devon solar farm was ordered to shut weeks before record high temperatures across Europe led to power supply warnings, due to concerns that the large amount of rooftop

The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical conceptsThis week’s question: Why is there no rugby culture in Germany?I would like to know why we build solar farms over green space, when we could just put them over massive car parks as a popular current internet meme suggests. Chris, MiddlesbroughSend new questions to nq@theguardian.com. Continue reading...

These financiers want to remodel the UK into a form that suits them – one that could threaten to erode the barriers between crime and businessThis coming Tuesday, the government’s representation of the people bill comes back to the House of Commons for its third reading. It bundles up a multitude of measures, including an extension of the franchise to 16- and 17-year-olds and welcome changes to voter registration. But thanks to the continuing furore around Nigel Farage and his extremel

Chancellor says PM-in-waiting needs ‘worked through plan’, in what could be one of her final interviews in No 11Rachel Reeves has urged Andy Burnham to arrive in Downing Street with a “worked through plan”, saying the incoming prime minister will be tested quickly by a range of incoming “shocks and challenges”.In what could be one of the first female chancellor’s final major interviews while in No 11, Reeves said Burnham should remain focused on the priorities that first brought him in