business

THE Co-op has warned that up to 60,000 small shops across the UK could face closure without upcoming business rates reform for small shops.

In the 2024 Autumn Budget, Chancellor Rachel Reeves promised to provide permanent business rates relief for small retail properties.

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At the time, the Government proposed raising business rates on the biggest retail properties with values over £500,000.

This would allow for a discount on rates for small retail and hospitality premises to be permanent.

The government has not yet set the rates, but changes are due to take effect in April 2026.

But the Co-op is now urging the Government to commit to the maximum levels of relief for smaller stores in the upcoming Autumn Budget on November 24.

Research conducted by the supermarket found one in eight small high street business owners will be at risk of shutting down if reforms are not delivered.

A further 10% of small said they would need to lay off staff.

Shirine Khoury-Haq, Co-op group chief executive, said: “The proposed system would improve the financial situation of 99% of retailers.

“How much they are protected from tax rises depends on decisions made in this Budget. To boost local economies, create jobs and provide community cohesion, we need inclusive growth.”

“That means supporting the businesses on the corners, in the precincts, on the parades and the high streets of every community.

” In order for them to not only survive, but to thrive, the government has to commit to the maximum levels of relief.” 

It comes as many larger retailers have voiced concerns over plans to increase business rates on larger stores, arguing the move could make them unprofitable or lead to price hikes.

In August, a letter signed by Morrisons, Aldi and JD Sports, warned that further tax rises on businesses could result in the Labour government breaking its manifesto pledge to provide “high living standards”.

It reads: “As retailers, we have done everything we can to shield our customers from the worst inflationary pressures but as they persist, it is becoming more and more challenging for us to absorb the cost pressures we face.”

Analysis carried out by the British Retail Consortium also suggested that 400 larger-format stores, such as department stores and supermarkets could close if the changes took place.

Many businesses have already seen their labour costs rise thanks to the rate of employer national insurance being increased in last year’s Budget.

The Treasury expects the new rates system will only impact the top 1% of properties.

A Treasury spokesperson said: “We are creating a fairer business rates system to protect the high street, support investment, and level the playing field by introducing permanently lower tax rates for retail, hospitality, and leisure properties from April that will be sustainably funded by a new, higher rate on less than 1% of the most valuable business properties.

“Unlike the current relief for these properties, there will be no cash cap on the new lower tax rates, and we have set out our long-term plans to address ‘cliff edges’ in the system to support small businesses to expand.”

Oct. 10 (UPI) — The Bureau of Labor Statistics has called back employees to prepare the Consumer Price Index report.

The news of the callback was reported by the New York Times, CNBC and Axios. The CPI report is how the government and economists measure inflation.

The price data has already been collected, but it must be processed and analyzed. Employees called back are economists and IT specialists, an administration source familiar with the plan told the Times. Data collection will still be suspended, meaning next month’s report may be delayed if the government shutdown continues.

The report will be released at 8:30 a.m. EDT on Oct. 24, CNBC reported. It was originally scheduled for Oct. 15.

The reason for the release of the new report is that federal law requires the Social Security Administration to adjust Social Security benefits annually based on inflation from the third quarter, and the adjustment must be published by Nov. 1.

But the delay could make it impossible for the administration to meet the deadline.

Other BLS reports, such as the nonfarm payrolls report, have not been released since the shutdown. That report was scheduled for Oct. 3.

In late August, I was listening to Nvidia‘s (NVDA -4.84%) earnings call for its fiscal second quarter (ended July 27). When Colette Kress, CFO of the artificial intelligence (AI) tech leader, gave quantifiable data about the company’s sovereign AI business, I thought, “Finally!” as such data is only rarely shared.

Nvidia’s sovereign AI business is growing like gangbusters. It appears to be the biggest growth engine of the company’s AI-driven data center platform, which accounts for the bulk of Nvidia’s total revenue. Yet, it gets little coverage in the financial press.

“Sovereign entities” are those that are independent and have total or at least significant control within their borders. This includes many nations, U.S. states, and the European Union (EU).

Image source: Getty Images.

Nvidia “on track to achieve over $20 billion in sovereign AI revenue this year”

From Kress’ remarks on last quarter’s earnings call:

Sovereign AI is on the rise as the nation’s ability to develop its own AI using domestic infrastructure, data, and talent presents a significant opportunity for NVIDIA Corporation. NVIDIA Corporation is at the forefront of landmark initiatives across the UK and Europe. …

We are on track to achieve over $20 billion in Sovereign AI revenue this year, more than double that of last year.

I’ll put the $20 billion in context below.

Kress said that the EU plans to invest 20 billion euros to establish 20 AI factories in France, Germany, Italy, and Spain. This will include five gigafactories, and it will increase its AI compute infrastructure by 10-fold.

A “gigafactory” means that the AI compute facility will contain the number of Nvidia’s graphics processing units (GPUs) — which dominate the market for AI chips — that require at least 1 gigawatt of power. For context, 1 gigawatt (or 1,000 megawatts) equates to about the power output of a large-scale nuclear power plant.

Nvidia CEO: “Nations are investing in AI infrastructure like they once did for electricity and the Internet.”

The above quote is from CEO Jensen Huang’s remarks on Nvidia’s fiscal first-quarter earnings call in May. Here are more Huang snippets from that call:

I was honored to join him [President Donald Trump, in May] in announcing a 500-megawatt AI infrastructure project in Saudi Arabia …

[In May,] we announced Taiwan’s first AI factory … Last week, I was in Sweden to launch its first national AI infrastructure. Japan, Korea, India, Canada, France, the UK, Germany, Italy, Spain, and more are now building national AI factories to empower startups, industries, and societies. … [N]ations are investing in AI infrastructure like they once did for electricity and the Internet.

All the countries that Huang rattled off as building sovereign AI infrastructure are using Nvidia’s GPUs and related technology. Talk about big customers!

Putting the sovereign AI business’ projected annual growth in context

For the current fiscal year (fiscal 2026, which ends in late January), Wall Street expects Nvidia’s revenue to be $206.5 billion, up 58% from $130.5 billion last fiscal year. If that estimate proves relatively accurate and the sovereign AI business brings in revenue of $20 billion, it will account for about 9.7% of total revenue. And Kress said “over $20 billion,” so the percentage could be higher.

Below are more stats for further context.

Data source: Nvidia. *Calculations by author.

The above are half-year stats, but they give you an idea of what a standout performer Nvidia’s sovereign AI business is. Given the annual projections Kress shared, this business probably generated first-half revenue in the ballpark of $8 billion, or 10% of the data center’s revenue, and likely grew 100%-plus year over year.

Why Nvidia’s sovereign AI strategy is particularly brilliant

Nvidia is not only selling its technology to sovereign entities, it’s also assisting them in their massive undertakings. These relationships should make Nvidia’s sovereign AI business especially “sticky.” Countries that are happy with Nvidia are likely to stick with Nvidia when they want to upgrade or expand their AI infrastructure.

The sovereign AI business should also lead to other opportunities for Nvidia. Companies, researchers, and technology students that use and become familiar with a country’s sovereign AI infrastructure will probably be more likely to buy Nvidia’s offerings if and when they need their own AI-enabling tech.

VICTORIA Beckham’s daughter Harper is set to follow in her footsteps and become a beauty entrepreneur.

It comes after the fashion designer, 51, hinted that 14-year-old Harper could become the next Kylie Jenner.

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Earlier this month the HIKU BY Harper, the proposed name for the skincare and beauty brand, was filed under two trademark applications by the business Victoria incorporated for Harper, H7B Limited, matching the teenager’s full name, Harper Seven Beckham.

A source said: “Harper loves fashion and make-up and has already started doing make-up tutorials. 

“The plan is to create a brand aimed at the younger market, taking inspiration for pop culture and Korean beauty.

“The Beckhams are incredibly encouraging parents when it comes to their kids’ talents and exploring their hobbies and business ideas.  They’re a very entrepreneurial family.”

Harper has been increasingly popping up on mum Victoria’s Instagram feed and even set up her own account earlier this year.

Victoria said: “Harper is going to be one of two things. She’s either going to be a beauty mogul or she’s going to be a stand-up. She is hilarious.”

Last year Harper, who has been stepping out in custom-made dresses by her mother’s VB label, spoke publicly for the first time to present Victoria with a prestigious award for entrepreneurship, on behalf of Harper’s Bazaar magazine at its annual Women of the Year event.

She said: “I’m so nervous. Especially as tonight’s a school night. Hopefully this isn’t going to get me in trouble.

“My amazing mummy has built an incredible business from the ground up and has shown me the value of working hard.

“But above all, she’s taught me to always be kind and, even though she has a million things to do, she rarely misses school.”

Harper is still being made to do her homework in addition to her online make-up tutorials alongside her mum.

Victoria chooses to lead by example, instilling a work ethic into each of her four children.

While eldest son Brooklyn, 26, is forging a career with his own hot sauce company Stateside, former footballer Romeo is successfully modelling.

She told The Sun: “I mean, I feel sorry for these kids that are considered nepo-babies.

“The kids are simply the kids of their parents.

“It’s not their fault. Give them a chance.

“What matters is that people are good and kind.

“It is fine to be ambitious, but it is more important to be kind.”

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Authorities in the southern US state have called the blast ‘devastating’, with many of the missing presumed dead.

An explosion at a Tennessee military munitions plant has left 19 people missing and feared dead, authorities said.

The blast occurred on Friday at Accurate Energetic Systems, a manufacturer in rural Tennessee, a state in the southern United States. People reported hearing and feeling the explosion miles away.

Humphreys County Sheriff Chris Davis said it was one of the most devastating scenes he’s ever seen. He did not specify how many people were killed, but referred to the 19 missing as “souls” and said officials were still speaking to family members.

The company’s website says it makes and tests explosives at an eight-building facility that sprawls across wooded hills in the Bucksnort area, about 97 kilometres (60 miles) southwest of Nashville.

The cause of the explosion, which Davis called “devastating”, was not immediately known, and the investigation could take days, the sheriff said.

Aerial footage of the aftermath from the news channel WTVF-TV showed the explosion had apparently obliterated one of the facility’s hilltop buildings, leaving only smoldering wreckage and the burnt-out shells of vehicles.

There’s no further danger of explosions, and the scene was under control by Friday afternoon, according to Grey Collier, a spokesperson for the Humphreys County Emergency Management Agency.

Emergency crews were initially unable to enter the plant because of continuing detonations, Hickman County Advanced EMT David Stewart said by phone. He didn’t have any details on casualties.

Accurate Energetic Systems, based in nearby McEwen, did not immediately respond to a phone message seeking comment Friday morning.

“This is a tragedy for our community,” McEwen Mayor Brad Rachford said in an email. He referred further comment to a county official.

Residents in Lobelville, a 20-minute drive from the scene, said they felt their homes shake and some people captured the loud boom of the explosion on their home cameras.

The blast rattled Gentry Stover from his sleep.

“I thought the house had collapsed with me inside of it,” he said by phone. “I live very close to Accurate, and I realized about 30 seconds after I woke up that it had to have been that.”

State Representative Jody Barrett, a Republican from the neighbouring town of Dickson, was worried about the possible economic impact because the plant is a key employer in the area.

“We live probably 15 miles [24km] as the crow flies, and we absolutely heard it at the house,” Barrett said. “It sounded like something going through the roof of our house.”

Oct. 10 (UPI) — President Donald Trump is imposing another 100% in tariffs on Chinese goods exported to the United States and will restrict software exports to China.

The new tariffs are in addition to an existing 30% tariff on Chinese goods and would take effect on Nov. 1, and possibly sooner, the president said in a social media post on Friday, according to CBS News.

The United States in November also will place restrictions on “critical software” destined for China.

Trump said he also might cancel a meeting with Chinese President Xi Jinping due to new Chinese restrictions on rare earth minerals exports.

Trump and Xi are scheduled to meet in South Korea during an international economic conference that starts on Nov. 2, but the U.S. president on Friday said he no longer has a reason to do so.

“Some very strange things are happening in China!” the president said Friday in a post on Truth Social.

“They are becoming very hostile and sending letters to countries throughout the world that they want to impose export controls on each and every element of production having to do with rare earths,” Trump said.

The export restrictions would “clog’ the markets and make life difficult for virtually every country in the world — especially for China,” he added.

The president said representatives of other nations have contacted his administration and are “extremely angry over this trade hostility, which came out of nowhere.”

“There is no way China should be allowed to hold the world ‘captive,'” Trump said.

“But that seems to have been their plan for quite some time, starting with the ‘magnets’ and other elements that they have quietly amassed into somewhat of a monopoly position.”

Pending Chinese rare earth minerals restrictions

China sent letters that are several pages long to other nations and detail every rare earth element that Chinese leaders want to withhold from other countries, Trump said.

China controls most of the world’s rare earth minerals market and announced the new restrictions on Thursday, according to CNBC.

The restrictions announced on Thursday would take effect on Dec. 1 and affect the manufacturing of semiconductors and other technologies that rely on rare earth minerals, such as batteries for electric vehicles.

The Chinese government intends to require companies located outside of China to obtain a license to export their goods that contain rare earth minerals, The New York Times reported.

It also seeks to regulate the refining of rare earth minerals and certain types of technologies used to manufacture batteries.

The Chinese trade restrictions were announced amid efforts to ease trade tensions between the United States and China, which Trump and Jinping were expected to discuss during the Asia-Pacific Economic Cooperation conference in Seoul, South Korea, in January, Politico reported.

Mutually assured economic disruption

Beijing’s announcement on Thursday could trigger “mutually assured disruption” of the Chinese, U.S. and other global economies, said Craig Singleton, a China fellow for the Foundation for Defense of Democracies.

He called China’s move a “miscalculation” and said Trump’s social media post shows China has crossed a line that is likely to cause a trade war.

“Both sides are reaching for their economic weapons at the same time,” Singleton told Politico, “and neither seems willing to back down.”

The Dow Jones Industrial Average reflected the news of the likely trade war on Friday and was down more than 520 points at $45,837.60 as of 2:25 p.m. EDT.

While the Dow is down, China’s pending rare earth minerals trade restrictions have spurred a run on related stocks, CNBC reported.

Rare earth mining firm MP Materials’ share price rose by 15% and USA Rare Earth’s shares by 19 percent during morning trading on the New York Stock Exchange.

USA Rare Earth is a vertically integrated rare earth miner and producer of magnets used in a variety of technologies.

NioCorp Developments’ share price also rose by 14% and Energy Fuels’ by more than 10% during trading late Friday morning.

Oct. 10 (UPI) — The United States has finalized a $20 billion financial support framework with Argentina, making good on President Donald Trump‘s pledge to help the struggling country, led by ally President Javier Milei, despite growing opposition to the move from both Democrats and Republicans.

Treasury Secretary Scott Bessent announced the deal Thursday on X, saying it followed four days of “intensive meetings” in Washington, D.C., with Argentina’s Minister of Economy Luis Caputo.

The deal, which includes a $20 billion currency swap and the direct purchase of Argentine pesos, was completed with Argentina’s central bank, said Bessent, adding that his department is prepared to “immediately” take all measures needed to stabilize the South American country’s markets.

“Argentina faces a moment of acute illiquidity,” he said in the statement.

“The Trump administration is resolute in our support for allies of the United States, and to that end, we also discussed Argentina’s investment incentives, and U.S. tools to powerfully support investment in our strategic partners.”

Milei, Argentina’s libertarian leader, is a staunch supporter of Trump and attended his inauguration in January.

Last month on the sidelines of the United Nations General Assembly, the American president in a press conference alongside Milei endorsed him for a second term.

Trump also told reporters that the United States was “going to help them” but that it wouldn’t be a bailout.

Caputo expressed his “deepest gratitude” to Bessent online following the announcement.

“I eagerly anticipate our meeting next week, where I am confident our teams will continue to collaborate with the same spirit of determination and partnership to advance our mutual objectives,” Caputo said on X.

Trump and Milei are scheduled to meet Tuesday.

The announcement has been met with criticism from both sides of the political aisle as well as farmers.

Eight senators on Thursday introduced the No Argentina Bailout Act to prohibit Treasury funds from bailing out Argentina’s financial markets.

“It’s inexplicable that President Trump is propping up a foreign government, while he shuts down our own,” Sen. Elizabeth Warren, D-Mass., ranking member of the Senate Banking, Housing and Urban Affairs Committee, said in a statement.

“Trump promised ‘America First,’ but he’s putting himself and his billionaire buddies first and sticking american with the bill.”

Republican Sen. Chuck Grassley of Iowa similarly complained about the deal on X.

“Why would USA help bail out Argentina while they take American soybean producers’ biggest market??? We shld use leverage at every turn to help hurting farm economy Family farmers shld be top of mind in negotiations by representatives of USA,” he said.

The American Soybean Association has voiced opposition to the bailout since Bessent first announced negotiations with Argentina mid-last month.

The ASA was upset that Trump’s tariffs had seen U.S. soybean farmers secure zero sales to China this crop cycle, while Argentine ships soybeans to the Asian nation.

“The frustration is overwhelming,” ASA President Caleb Ragland said in a statement.

“U.S. soybean prices are falling, harvest is underway and farmers read headlines not about securing a trade agreement with China, but that the U.S. government is extending $20 billion in economic support to Argentina while that country drops its soybean export taxes to sell 20 shiploads of Argentine soybeans to China in just two days.”

Oct. 9 (UPI) — St. Louis-based Liberty Vote has acquired Dominion Voting Systems, among the nation’s largest election technology companies and one that was wrongly accused of election rigging.

Liberty is the nation’s largest provider of electronic poll information technology and was founded by former Republican elections director Scott Leinendecker. Terms of the deal were not disclosed. In a statement Thursday, Liberty said the company would be 100% American owned, and that “as of today, Dominion is gone.”

“Liberty Vote signals a new chapter for American elections — one where trust is built from the ground up,” Leinendecker said. “Liberty Vote is committed to delivering election technology that prioritizes paper-based transparency, security, and simplicity so that voters can be assured that every ballot is filled-in accurately and fairly counted.”

Liberty’s stated goals align closely with those of the Trump administration’s efforts to restore paper ballot counting, require voter identification at the polls, restrict mail-in voting and restore trust in American elections.

Dominion was at the center of controversy and, ultimately, a series of lawsuits following during and after the 2020 presidential election, especially in states such as Georgia, where Joe Biden narrowly won the vote. Its election technology was used by millions of Americans in 27 states in last year’s elections. John Poulos, Dominion’s founder and CEO, confirmed the sale.

Liberty said facilitating third-party auditing of its election systems is among the company’s other priorities. Conservative election watchers have consistently called for such audits, most notably following the 2020 election in Arizona as a way to combat voter fraud.

Independent studies have shown that the practice is extraordinarily rare, and that a majority of states already conduct internal post-election audits.

“This announcement raises a lot of questions, questions that I’m sure a lot of states with current Dominion contracts are going to want answers to,” said David Becker, who oversees the nonpartisan Center for Election Innovation & Research, and an election expert.

Liberty Vote, together with KNOWiNK, also founded by Leinendecker, will have voting systems in 40 states, a Liberty Vote official said.

Oct. 9 (UPI) — The offshore wind farm company Orsted announced Thursday it plans to cut its workforce by roughly one-quarter by the end of 2027 as it redirects its business toward Europe and Asia.

Orsted said Thursday that as a number of offshore wind farms are finalized and come online in the next few years it needs to right size its workforce to match a decline in construction activities it expects to see.

“This is a necessary consequence of our decision to focus our business and the fact that we’ll be finalizing our large construction portfolio in the coming years — which is why we’ll need fewer employees,” Rasmus Errboe, CEO of Orsted, said in a press release.

“At the same time, we want to create a more efficient and flexible organization and a more competitive Orsted, ready to bid on new value-accretive offshore wind projects,” Errboe said.

Right now, the company employs roughly 8,000 people globally but as it wraps up current construction work and some employees become redundant, on top of natural attrition and other moves, Orsted plans to reduce its head count to roughly 6,000.

The company has spent the year updating its portfolio, it said, as its roughly 8.1 gigawatt construction portfolio starts to come online, with most of its geographic and technical focus to be aimed at Europe, as well as some markets in the Asia-Pacific region.

In the United States, Orsted was ordered by the Trump administration in August to stop construction its nearly completed Revolution Wind project off the coast of New England.

The stop work order was part of a Trump move to cut nearly $700 million in funding from 12 wind farms because it considered the projects to be “wasteful.”

Revolution Wind, at the time, was roughly 80 percent complete and expected to provide enough power for more than 350,000 homes in Rhode Island and Connecticut.

“We’re building a more financially robust and competitive company with solid earnings, which will increase as we complete our projects,” Errboe said in the release. “Once we’ve achieved this, Orsted will be a significantly stronger, more focused and competitive company.”

On the news, shares for the company were trading 0.7 percent higher on Thursday, according to CNBC.

HIGH tax fears ahead of next month’s Budget have sent business confidence to its lowest level in three years, a survey shows. 

Company bosses fear a Groundhog Day experience as concerns grow they will bear the brunt of another slew of punishing taxes. 

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Optimism levels appear to be in freefall as tax concerns hit profits growth, recruitment and investment plans. 

Businesses have now lowered their expectations for the year ahead as muted domestic sales growth also drags down confidence — now at its lowest level since the end of 2022. 

Six in ten bosses say the tax burden is a growing challenge — a historic high for the survey and a big rise from just one in 16 making the claim towards the end of 2020. 

They also say that they were hurt by the £25billion National Insurance tax raid — and are now concerned about rises in next month’s Budget. 

Nearly half say regulatory requirements are the second biggest worry in a push for better performance. 

It comes ahead of the two-year roll out of a new workers’ rights package which will heap more red tape on employers grappling with costs. 

Concerns have been raised over giving day-one rights to workers and bolstered trade union rights.

Business sentiment is found to be weakest in the property sector, followed by retail companies, the research by the Institute for Chartered Accountants in England and Wales reveals. 

CEO Alan Vallance said: “It’s Groundhog Day for Britain’s businesses as we enter another run up to a Budget with poor growth, strained public finances and a fear that business will once again bear the brunt of higher taxes.” 

Chancellor Rachel Reeves is expected to try to find about £30billion to help plug the gap in the nation’s finances.

But she has been given an extra £2billion of wriggle room after borrowing stats showed inaccurate data on VAT receipts. 

Oct. 7 (UPI) — The European Union has announced it will match President Donald Trump‘s tariffs on steel, causing the United Kingdom’s steel industry to quake.

The new tariffs would cause a crisis in the U.K. steel industry, as 80% of British exports are to the EU, according to a lobbying group representing the sector. Unions said the tariffs could kill the industry, The Guardian reported.

The European Commission’s plan would sharply cut the amount of steel that can be imported to the EU without tariffs to 18.3 million tons a year, an almost 50% drop, and would almost double the tariff rate to 50%.

The EU’s goal is to cut down on global overcapacity, which brings cheap steel from China and hurts steel jobs in Europe, the New York Times reported. It is also a reaction to Trump’s tariffs on EU steel, which could increase the likelihood that global producers will send their steel to Europe, flooding the market.

“Global overcapacity is damaging our industry,” European Commission President Ursula von der Leyen said in a statement.

“We have global overcapacity, unfair competition, state aid, and undercutting in prices, and we are reacting to that,” Stéphane Séjourné, the European Commission’s executive vice president for prosperity and industrial strategy, said at a news conference at the European Parliament in Strasbourg, France. “Eighteen thousand jobs were lost in the steel sector in 2024. That’s too many, and we had to put a stop to that.

“The European steel industry was on the verge of collapse — we are protecting it so that it can invest, decarbonize, and become competitive again,” Séjourné said.

U.K. Prime Minister Keir Starmer told reporters during a flight to India that officials were in discussions with the EU about the tariffs, according to The Guardian.

“In relation to the question of tariffs or other measures, as you’d expect, we are in discussions with the EU about this, as we’re in discussions with the U.S. about it,” Starmer said. “So I’ll be able to tell you more in due course, but we are in discussions as you’d expect.”

The U.K. government took control of Chinese-owned plants in Scunthorpe, England, earlier this year, while Liberty Steel plants in Rotherham and Stocksbridge, England, fell into government control last month.

U.K. industry minister Chris McDonald said it was “vital” to “protect trade flows between the U.K. and EU” and that he would meet with industry leaders on Thursday. He said he was “pushing the European Commission for urgent clarification of the impact of this move on the U.K.”

Charlotte Brumpton-Childs, U.K. national officer with the GMB trade union, called the tariffs a “hammer blow” that “could end steelmaking in the U.K. if safeguards aren’t secured,” according to The Guardian.

In an interview with the Rio Ferdinand Presents Podcast, external, the ex-Anfield captain said there had been “five or six really interesting phone calls” since he left Saudi Arabian club Al-Ettifaq in January.

“I haven’t been ready because I haven’t got that [coaching] team set around me. And the timing hasn’t been right,” he explained.

“My daughter’s just had a baby. I’ve just become a grandad. I wasn’t ready. I haven’t got my staff ready.

“So unfortunately, those opportunities have come at the wrong time, if you like.

“But if the right call comes my way, the right club, the right challenge, and I’ve got my people set, which I will have at some point, I’ll take that challenge on because it’s in me.”

Gerrard was in charge at Ibrox from 2018 to 2021, winning the title in his last season.

“I know where I’m strong and I know there’s areas where I need good support and I need special skill sets to make me better and stronger in terms of my staff and my group,” he added.

“I felt like I had that to a tee at Rangers [with Gary McAllister and Michael Beale]. A lot of coach changes at Aston Villa and over in Saudi, I don’t think helped me from a personal point of view.

“I’d love another go at some point.

“I want to change a few things and improve a few things and come back fresh, with a few different people around myself.

“I’d love another couple of challenges doing this and that’s what I’m working on in the background at the moment.

“A few different ideas, a few different people around me.

“Now I’m enjoying family time and doing a lot of things that I haven’t been able to do. But there’s a part of me that still feels that there’s a bit of unfinished business in terms of wanting to go in and face another couple of exciting challenges.”

Oct. 6 (UPI) — The S&P 500 and the Nasdaq closed at record highs Monday after ChatGPT-maker OpenAI and Advanced Micro Devices reached a mega-deal that ignited a rally, despite the U.S. government shutdown entering its second week.

Chipmaker AMD shares closed 23.71% higher as the tech-heavy Nasdaq Composite rose 0.71% to end the day at a new record high of 22,941.67. The S&P 500 gained 0.36% to close at 6,740.28. Despite record closes for the Nasdaq and S&P, the Dow Jones Industrial Average dropped 0.1%.

AMD, one of Nvidia’s key rivals, announced earlier Monday it had agreed to a multi-year deal to supply chips to OpenAI, which could end-up taking a 10% stake in the chipmaker.

“Excited to partner with AMD to use their chips to serve our users!” Sam Altman, OpenAI co-founder and chief executive officer, wrote in a post on X.

“This is all incremental to our work with NVIDIA (and we plan to increase our NVIDIA purchasing over time),” Altman added.

Nvidia announced last month it would invest as much as $100 billion to help power OpenAI’s new AI models. After Monday’s news of the AMD-OpenAI deal, which boosted tech stocks and optimism for AI, Nvidia’s shares closed down 1%.

“The AI narrative continues to gain momentum,” said Louis Navellier, founder and chief investment officer of Navellier & Associates.

The deal “gives some competition for NVIDIA, which currently dominates AI chips, and accelerates the timeline for data center buildouts,” Navellier added.

OpenAI said it will deploy 6 gigawatts of AMD’s Instinct graphics processing units across multiple generations of hardware for the next few years. The first 1-gigawatt rollout of chips is expected to take place in about a year.

“We have to do this,” OpenAI president Greg Brockman told CNBC’s “Squawk on the Street.”

“This is so core to our mission if we really want to be able to scale to reach all of humanity, this is what we have to do.”

Oct. 6 (UPI) — Tesla CEO Elon Musk made two posts on X that appear to tease a new car or relaunch of an existing car for “10/7.”

Because of the teasers, Tesla stock rose by 4.72%, on pace for its largest one-day percentage gain in a little over a week, MarketWatch said.

Theories about what the teasers mean include that it could be the next-generation Roadster that Musk has been touting for years, or that Tesla is going to release a mass-market model.

Musk teased the next-gen Roadster in 2017 and 2018. He has since hyped the vehicle repeatedly and, in September, said on X that “the new Roadster is something special beyond a car.” He didn’t elaborate.

Tesla has been saying a cheaper mass-market car will be released this year. But Musk has said this lower-cost vehicle will be a stripped down Model Y, NBC reported.

While Tesla stock has risen recently, it took a hit earlier this year when Musk began his moves into politics, which soured some on Tesla.

In mid-September, Musk invested about $1 billion into Tesla, which made the market jump by about $30 per share.

Oct. 5 (UPI) — After filing its second bankruptcy in May, the chain of Rite Aid drugstores have officially closed.

The store, which officially opened in 1962, began the large-scale shuttering of locations across the nation amid its first bankruptcy filing, in October 2023.

The company had some $4 billion in debt at that time amid lawsuits related to the company’s apparent handling of opioid medications.

In May, Matt Schroeder, Rite Aid’s CEO, said their financial woes were related to “the rapidly evolving retail and healthcare landscapes,” USA Today reports.

The store offloaded its prescription services to other pharmacies, including CVS, Walgreens, Albertsons, Kroger and Giant Eagle, and sold it’s ice cream brand to Hilrod Holdings, the outlet continued.

“All Rite Aid stores have now closed,” a statement on the company’s website now reads. “We thank our loyal customers for their many years of support.”

The chain had 89 active locations prior to the closing.

Oct. 5 (UPI) — Soybean farmers could be the recipients of between $10 billion and $14 billion in government aid after China’s unofficial embargo tanked sales.

China stopped buying soybeans after President Donald Trump levied tariffs on the country.

Soybean farmers are urging the president to reach a deal with China.

“China is the world’s largest soybean customer and typically our top export market,” said American Soybean Association president Caleb Ragland in a statement on Sept. 24 after China reportedly bought 20 shiploads of soybeans from Argentina when that country said it would waive all taxes on soybean exports.

“The U.S. has made zero sales to China in this new crop marketing year due to 20% retaliatory tariffs imposed by China in response to U.S. tariffs. This has allowed other exporters — Brazil and now Argentina — to capture our market at the direct expense of U.S. farmers. The frustration is overwhelming,” Ragland said.

China was responsible for about $12 billion in soybean sales in 2024, NBC reported.

“The soybean farmers of our country are being hurt because China is, for ‘negotiating’ reasons only, not buying. We’ve made so much money on tariffs that we are going to take a small portion of that money and help our farmers,” Trump said in a post on Truth Social.

Oct. 4 (UPI) — Germany’s Munich International Airport resumed flights on Saturday morning after drone sightings closed the airport for 7 1/2 hours, the second disruption in 24 hours.

Drones have affected aviation throughout Europe with Russia suspected of launching them. Several European Union members want a multi-layered “drone wall” to quickly detect, track and destroy drones.

The airport said flights stopped at 9:30 p.m. Friday, affecting around 6,500 passengers.

It reopened at 5 a.m. local time when flight arrivals and departures were deemed safe, a call handler fielding passenger inquiries told CNN.

In a statement Saturday, the airport said 23 arriving flights were diverted and 12 into Munich were canceled. And 46 outbound flights were canceled or postponed.

On Thursday night, 17 flights were grounded because of several drone sightings near the airport.

“As on the previous night, Munich Airport worked with the airlines to immediately provide for passengers in the terminals,” airport officials said in a statement. “Camp beds were set up, and blankets, drinks and snacks were distributed.

“When a drone sighting is suspected, the safety of travellers is the top priority. Reporting chains between air traffic control, airports and police authorities have been established for years. It is important to emphasise that the detection and defense against drones are sovereign tasks and are the responsibility of the federal and state police,” the officials said.

Also Thursday, authorities in Belgium were investigating 15 drones spotted above the Elsenborn military site near the German border, according to Belgian media. The drones then reportedly flew from Belgium to western Germany.

Recently, Russian drones reportedly crossed into Poland and Russian MiG-31 jets entered Estonian airspace in separate incidents.

Russia has denied involvement in the drones in southern Germany in Bavaria, about 18 miles northeast of Munich, is the second-busiest in Germany, behind the one in Frankfurt, handling 41.6 million passengers in 2024.

Munich International is a hub for German flag-carrier Lufthansa. The first flight to touch down after the delay was Lufthansa’s flight from Bangkok at 5:25 a.m., according to the airport’s tracking website. Then starting at 6 a.m., several other flights landed.

The first seven departures were at 5:50 a.m.

Oct. 4 (UPI) — London-based Harrods has created an $81 million fund to compensate eligible recipients who say they were sexually abused by former owner Mohamed Al Fayed.

More than 100 former Harrods workers and others each could receive up to $519,000 to settle abuse claims, including those involving alleged rape and sexual assault, the BBC reported on Saturday.

Harrods is one of the world’s most recognized luxury store brands, which Fayed owned from 1985 to 2010.

London Metropolitan Police reported 146 people have reported crimes by Fayed, who was Egyptian and also owned the Hotel Ritz Paris and the Fulham Football club and died in 2023 at age 94, according to The Standard.

Only those who have alleged sexual abuse by Fayed will be eligible for compensation

The compensation offer runs through March and will be paid out to eligible recipients at the end of April, Harrods managing director Michael Ward said.

Claimants can file to receive up to $270,000 for general damages, $202,000 for work impact, $37,000 for wrongful testing and $14,000 for treatment costs.

Officially called the “Harrods Redress Scheme,” the settlement plan was created in March and remains open for an entire year.

The compensation plan triggered a pre-tax loss for Harrods of more than $46 million for the year ending in February, the Financial Times reported.

Harrods reported a profit of more than $150 million a year earlier.

Oct. 3 (UPI) — Officials at Long John Silver’s are replacing the chain’s former logo that featured a fish with one that features a chicken to share its “long-held secret.”

The new logo is designed to inform consumers that the seafood chain also offers chicken entrees.

“Guests have been telling us for years that our chicken is a best-kept secret,” said Christopher Caudill, senior vice president of marketing and innovation at Long John Silver’s, in a news release on Friday.

“Our hand-battered chicken strips — known as Chicken Planks — are every bit as crave-worthy as our legendary fish,” Caudill added. “It’s time we let that secret out.”

The Louisville, Ky.-based restaurant chain announced the change on Friday that will include a new wrap on the Long John Silver’s Front Row Motorsports car during the South Point 400 NASCAR race in Las Vegas on Oct. 12.

The restaurant chain tested its chicken-based products at its flagship restaurant in Louisville and received “overwhelmingly positive” feedback from its customers.

That feedback helped prevent the restaurant’s leaders from chickening out on the logo change following the recent uproar that occurred when Lebanon, Tenn.-based Cracker Barrel recently tried to change its longtime logo.

Cracker Barrel’s logo briefly removed an image of a seated elderly man resting his left elbow and forearm on a wooden barrel from its logo.

The change generated unexpected pushback from consumers and others, including President Donald Trump, who criticized the move on social media.

Cracker Barrel officials soon after announced they were canceling the logo change.