Chinese company Ming Yang has announced plans to build the UK’s largest wind turbine manufacturing facility in Scotland.

The firm projects an investment of up to £1.5 billion, creating 1,500 jobs.

Several Scottish sites are shortlisted, with Ardersier in the Highlands the preferred option.

The first of three phases involves a £750 million investment in an advanced facility, with production by late 2028. Later phases will expand the facility, creating an “offshore wind industry ecosystem”.

This follows two years of discussions with Scottish and UK governments. Ardersier is a “green freeport”, offering tax and customs incentives for investment.

Last month Ming Yang and Octopus Energy announced they would be in partnership to develop new wind projects.

Zhang Chuanwei, founder and chairman of the Ming Yang group, said: “As a global leader in wind technology, Ming Yang is committed to accelerating the global energy transition through innovation and community-focused comprehensive energy solutions.”We are excited by the prospect of investing in the UK and look forward to finalising our investment decision.”

UK chief executive Aman Wang said: “We firmly believe that by moving forward with our plans to create jobs, skills and a supply chain in the UK, we can make this country the global hub for offshore wind technology.

“We fully support the Government’s mission to become a clean energy superpower, and I’m confident that once the plans are approved we can make a valued contribution to this goal.”

In November last year, Conservative MP Nick Timothy asked energy minister Michael Shanks about Ming Yang’s plans to invest in Scotland, saying the Government should rule out investment from “hostile states”.

He said Ming Yang “benefits from huge subsidies in China but there are serious questions about energy security and national security”.

Mr Shanks replied: “We are encouraging investment in the UK to build the infrastructure that we need in the future.”

The UK and Scottish governments have been approached for comment.

The US Internal Revenue Service (IRS) has announced the new federal income tax brackets and standard deductions for 2026, offering some relief to Americans as they prepare for next year’s tax returns.The IRS usually makes these adjustments in October or November to prevent what’s known as “bracket creep.” This occurs when inflation pushes taxpayers into higher income brackets, which can result in them paying more in taxes the following April, though the actual purchasing power has not improved.What’s changing in 2026For the 2026 tax year, which will be filed in 2027, the top federal income tax rate of 37% will apply to individuals with taxable income above $640,600 and married couples filing jointly with income over $768,700. The agency has also raised thresholds for long-term capital gains, estate and gift tax exemptions, and eligibility for the earned income tax credit, ET reported citing CNBC.The standard deduction is also increasing:

Seniors could benefit from an extra tax break under the One Big Beautiful Bill Act. Individuals aged 65 and above may claim a temporary deduction of up to $6,000, available until the end of 2028, for those earning $75,000 or less, or couples earning $150,000 or less.IRS operations amid shutdownThe IRS has warned that an agency-wide furlough will start in October due to a lapse in federal funding caused by the government shutdown. Despite this, taxpayers with an extension deadline of October 15 should continue filing as usual.“Taxpayers should continue to file, deposit, and pay federal income taxes as they normally would; the lapse in appropriations does not change Federal Income Tax responsibilities,” an IRS spokesperson told CBS News.Understanding your taxIn the US, taxation is progressive, meaning that they increase as the income rises. They come in 7 brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. To see how the changes affect you, consider a married couple earning $150,000. Subtracting the 2026 standard deduction of $32,200 leaves $117,800 in taxable income. They fall into the 22% marginal tax bracket, but their effective tax rate is lower:

This totals $15,340 in federal income tax, resulting in an effective rate of 13%.

The government has opened senior management positions in public sector banks, including State Bank of India (SBI), to private sector professionals, a move aimed at broadening the talent pool for top banking leadership.Under the revised appointment guidelines, one of the four Managing Director (MD) posts at SBI is now accessible to private sector candidates and individuals from other public sector financial institutions, PTI reported. Previously, all MD and chairman positions were filled internally.The new guidelines also allow private sector professionals to apply for Executive Director (ED) positions across public sector banks (PSBs). In addition to SBI, the 11 other nationalised banks—including Punjab National Bank, Bank of Baroda, Canara Bank, Union Bank of India, and Bank of India—are covered under the framework.Private sector candidates for the MD post must have a minimum of 21 years of professional experience, including at least 15 years in banking and two years at the bank board level. For ED roles, candidates need at least 18 years of experience, with 12 years in banking and three years at the highest level below the board. Eligibility for public sector candidates remains unchanged.According to the guidelines issued by the Appointments Committee of the Cabinet, the first vacancy of SBI’s MD will be treated as open to all eligible candidates, while subsequent vacancies will be filled by internal PSB candidates. For ED positions, one post per bank will be accessible to both private sector and internal candidates.However, officers holding the post of Chief Vigilance Officer (CVO) are ineligible for these appointments. The eligibility rules for nationalised banks also specify service requirements at the Chief General Manager and General Manager levels through FY2027-28, after which candidates need a minimum of two years as Chief General Manager.