(Sharecast News) - Around one third of new homes in London failed to sell to private buyers last year, underlining the scale of the housebuilding challenge facing incoming mayor Andy Burnham, according to the Telegraph. CBRE analysis of Molior data showed developers abandoned attempts to sell 34% of new units in 2026 after failing to find buyers, up from 25% in 2025. Instead of going to private purchasers, the homes were offloaded to investment funds or housing associations. The figures highlight mounting strain in London's housing market, where weak sales are making new development increasingly unviable. The slowdown also casts fresh doubt on Labour's pledge to deliver 1.5m homes by 2029.
Sky's proposed £1.6bn takeover of ITV's broadcasting arm is set to include a £2bn spending commitment for ITV Studios to secure the future of Coronation Street and other flagship programmes for five years, The Times reported. Sky, owned by Comcast, has been in talks since last year to acquire ITV's media and entertainment division, which includes its linear channels and ITVX streaming service. Sources close to the negotiations now expect a deal could be announced in early July. ITV Studios - responsible for just over half of ITV's £4.1bn revenue last year - will remain listed in London. However, discussions have been complicated by how best to separate the group's divisions.
United Utilities is giving chief executive Louise Beardmore a £435,000 allowance on top of her existing bonus arrangements, a payment not subject to Ofwat's new powers to block executive payouts following pollution incidents, according to The Times. Beardmore was among six water bosses whose annual bonuses were halted by Ofwat in 2025 after serious pollution breaches. She had been due £417,000 for 2024-25 but was denied the sum after a reservoir valve test killed thousands of fish.
Iran's Revolutionary Guard warned that US "blind strikes" on Sirik would not alter Tehran's control over the Strait of Hormuz, the Independent reported, as both sides continued trading attacks despite an interim deal agreed less than two weeks ago. Iran said its naval and aerospace forces carried out joint missile and drone strikes on US military sites in Kuwait and Bahrain, warning of a "crushing response" to further violations. Earlier, the US said it had hit Iranian targets after a tanker was struck in the strait. Donald Trump said Iran would "no longer exist" if it continued breaking the ceasefire, following fresh US strikes on Iranian missile, drone and radar sites. US Central Command said the action was taken "in direct response to continued Iranian aggression against commercial shipping".
Ukrainian drones struck Russian targets including an oil refinery in the Krasnodar region, intensifying attacks on energy infrastructure that have caused fuel shortages in parts of Russia, the Independent reported. Krasnodar governor Veniamin Kondratiev said a fire broke out at the Slavyansk‑na‑Kubani refinery, killing one person and injuring another nearby. Russia also launched ballistic missiles at Kyiv overnight, injuring at least two people. Ukraine has increased long‑range strikes on Russian military and energy facilities to cut Moscow's war revenue and bring the consequences of the conflict home to Russian citizens. President Volodymyr Zelensky urged Vladimir Putin to "get out of Ukraine" and said he had authorised a 40‑day offensive aimed at influencing Russia to end the war, following consultations with Ukraine's security service.
Ocado chief executive Tim Steiner has collected nearly £100m in payouts since the company floated in 2010, despite the share price now sitting below its IPO level, the Guardian reported. Analysis by the High Pay Centre found Steiner has received £94m in awards and payments, prompting concerns over "proportionality, accountability and fairness" in the company's pay‑setting process. The figure includes almost £59m awarded in 2019, largely driven by a series of international deals to license Ocado's grocery‑picking technology. Steiner is reportedly in discussions over his future after Ocado approached at least one potential successor.
Donald Trump has threatened to impose a 100% tariff on any European country that introduces a digital services tax on US companies, the Guardian reported. Writing on social media, Trump said "numerous European countries" were considering such a levy and warned that any nation implementing it would face an immediate 100% tariff on all goods exported to the US. He added that the tariff would override existing trade agreements. The move risks escalating tensions in Trump's wider trade war, potentially triggering retaliation from the EU if enacted.