Business
Government vows to create 400,000 jobs in clean energy sector
Pritti MistryBusiness reporter
The government has announced plans to train and recruit more workers for the UK’s clean energy sector, promising to create 400,000 extra jobs by 2030.
Plumbers, electricians and welders are among 31 priority occupations that are “particularly in demand”, with employment in renewable, wind, solar and nuclear expected to double to 860,000 in five years, ministers have said.
Speaking on the BBC’s Sunday with Laura Kuenssberg programme, Energy Secretary Ed Miliband said thousands of jobs were needed to develop Britain’s clean energy sector to “get bills down for good”.
Welcoming the proposals, Unite the union said: “Well-paid, secure work must be at the heart of any green transition.”
As part of the government’s strategy, five “technical excellence colleges” will be set up to train workers with clean energy skills, with £2.5m in funding going towards pilot schemes in Cheshire, Lincolnshire, and Pembrokeshire, according to the Department for Energy Security and Net Zero (DESNZ).
A new programme is to be launched to match veterans with careers in solar panel installation, wind turbine factories and nuclear power stations, while oil and gas workers could benefit from up to £20m from the UK and Scottish governments for bespoke careers training in clean energy roles.
PA MediaThere would be also be tailored schemes for ex-offenders, school leavers and the unemployed.
He said 10,000 extra jobs would be needed to support the construction of the Sizewell C nuclear power station in Suffolk and described how the Siemen’s wind turbine factory in Hull was “booming”.
Miliband also told the BBC he stood by his pledge to reduce energy bills by £300 by 2030, after bills went up by 2% for millions across the UK under Ofgem’s latest price cap, which sets the maximum price that can be charged for each unit of gas and electricity for millions of househoulds in England, Scotland and Wales.
The increase for October to the end of December means a household using a typical amount of energy will pay £1,755 a year, up £35 a year.
In a statement, Miliband said the plan would bring “a new generation of good industrial jobs” to communities across the UK.
“Our plans will help create an economy in which there is no need to leave your hometown just to find a decent job.
“Thanks to this government’s commitment to clean energy, a generation of young people in our industrial heartlands can have well-paid, secure jobs, from plumbers to electricians and welders.”
According to DESNZ, jobs in the clean energy sector command average salaries of more than £50,000, compared to the UK average of £37,000.
Work and Pensions Secretary Pat McFadden said: “We’re giving workers the skills needed to switch to clean energy, which is good for them, good for industry, and will drive growth across the nation.
“Our new jobs plan will unlock real opportunities and ensure everyone has access to the training and support to secure the well-paid jobs that will power our country’s future.”
Christina McAnea, general secretary of Unison, said the government’s strategy could “help create a UK workforce with highly skilled, fairly paid and secure jobs”.
“Additional funding for apprenticeships and opportunities for young people are crucial too if the UK is to have a bright and clean energy future,” she added.
Business
Chipotle stock sinks as restaurant chain reports falling traffic, weak guidance
A Chipotle store stands in the Bronx in New York City on April 23, 2025.
Spencer Platt | Getty Images
Chipotle Mexican Grill on Tuesday reported quarterly earnings and revenue that topped analysts’ expectations, although traffic to its restaurants fell for the fourth straight quarter.
For 2026, the company is projecting flat same-store sales growth, signaling that the burrito chain’s woes are not expected to disappear quickly. Chipotle ended a bumpy 2025 with a full-year same-store sales decline of 1.7%.
Shares of the company fell as much as 11% in extended trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 25 cents adjusted vs. 24 cents expected
- Revenue: $2.98 billion vs. $2.96 billion expected
The fast-casual chain reported fourth-quarter net income of $330.9 million, or 25 cents per share, down from $331.8 million, or 24 cents per share, a year earlier.
Excluding impairment costs, gains from terminating restaurant leases and other items, Chipotle earned 25 cents per share.
Net sales rose 4.9% to $2.98 billion.
The company’s same-store sales fell 2.5% for the quarter, making this reporting period the third quarter of the year with same-store sales declines. However, Wall Street was anticipating a steeper same-store sales decrease of 3%, according to StreetAccount estimates.
Traffic to Chipotle restaurants fell by 3.2%. Executives have previously said they have seen a pullback in spending from consumers of all income cohorts, although low-income diners have made the most significant shift to their behavior.
Over the past year, shares of Chipotle have lost roughly a third of their value, dragging the company’s market value down to about $51 billion. Investor enthusiasm for the stock waned after the fast-casual chain began reporting shrinking traffic to its restaurants.
To bring back customers, Chipotle is focusing on improving the chain’s operations and adding new menu items, rather than leaning into discounts. In December, at the tail end of the quarter, the company unveiled “protein cups,” with the goal of convincing protein-obsessed customers to stop by for a snack, not just lunch or dinner.
Chipotle opened 132 company-owned locations and seven restaurants run by international licensees during the quarter. That brought its total to 334 company-owned locations and 11 international partner restaurants opened for the year.
In 2026, the company is projecting that it will open 350 to 370 new restaurants, including 10 to 15 international locations that will be run by licensees.
Business
India–US trade deal: Textile, leather players see revival in volumes – The Times of India
CHENNAI: India’s textile, apparel and leather exporters are expecting a sustained recovery in orders from the US, following tariff reductions under the proposed India–US trade deal. Industry representatives said the move will restore competitiveness, improve margins and revive volumes that were under pressure over the past year.Textile and apparel exporters are now expecting an increased sourcing by global brands as India will now enjoy one of the lowest tariff regimes among major Asian manufacturing hubs, with a marginal advantage over competitors, such as Bangladesh, Sri Lanka, Vietnam and China. The tariff relief is expected to create a level-playing field, particularly for small and medium exporters in clusters such as Surat, Gurugram and Tirupur.Prabhu Dhamodharan, convenor of the Indian Texpreneurs Federation, said sourcing interest of US from India is rising and exports are likely to improve steadily. “The apparel and home textile exports will witness month-on-month double-digit growth from the 2026–27 fiscal, lifting the monthly apparel export run rate to $1.5 to $1.6 billion, from the current $1.3 billion.”
Eyeing a level-playing field
A Sakthivel, chairman of the Apparel Export Promotion Council, said improved trade terms would significantly enhance the competitiveness of Indian apparel products in the US market.The leather sector has termed the US decision to reduce tariffs to 18% a “double dhamaka”, coming soon after India’s strategic trade deal with the European Union. Israr Ahmed, former vice-president of the Federation of Indian Export Organisations (Fieo) and managing director of the Farida Group, said exporters had been absorbing the impact of high tariffs by offering discounts of 20–30%. “With the US now reducing tariffs on Indian goods to 18%— a rate lower than those faced by key South Asian competitors, such as Bangladesh and Vietnam — these heavy discounts are no longer necessary,” he said, adding that this would help restore pricing and margins.Rafiq Ahmed, chairman of Kothari Industrial Corporation, noted that competition in the US market has intensified over the past year but said long-standing relationships would help Indian exporters regain lost ground. “The orders from the US, which got reduced in the past one year, will start flowing,” he said.Yavar Dhala, vice-president of the Indian Shoe Federation and CEO of Infinite Leather, said India’s share of leather exports to the US could rise from about 22% to nearly 30% this year, adding that factories operating fewer days due to high tariffs could return to a six-day work week.
Business
Disney names Josh D’Amaro as new chief executive
The media giant chooses the head of its amusement park business to replace longtime boss Bob Iger.
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