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Steady5 stories5 sourcesLast updated: 5/18/2026

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Whitbread Cuts 3,800 Jobs as It Closes Beefeater and Brewers Fayre Restaurants
Urgent
Business·4/30/2026AI summary

Whitbread Cuts 3,800 Jobs as It Closes Beefeater and Brewers Fayre Restaurants

Whitbread, owner of Premier Inn, is cutting about 3,800 jobs and closing all remaining Beefeater and Brewers Fayre restaurants as it shifts to a pure hotel business. The FTSE 100 company will convert 197 restaurants into hotel rooms and sell £1.5bn of freehold properties. The cuts follow pressure from US activist investor Corvex and £50m extra costs from Rachel Reeves's 2025 budget.

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Guardian Business
China’s AI firms scaled up on open-source models. The next phase may be different
Tech
4/19/2026

China’s AI firms scaled up on open-source models. The next phase may be different

In China’s hyper-competitive and lucrative tech industry, releasing cutting-edge artificial intelligence models for free may seem counter-intuitive – but it has become a core business strategy. At the University of Hong Kong last November, Alibaba Group Holding chairman Joe Tsai was asked why the tech giant open-sourced its AI models. Addressing a room full of students, Tsai said he believed open-source AI would bring global benefits by lowering costs, making it a natural fit for talent- and...

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SCMP Tech