Previously employed by Salomon Brothers in New York and London, Hatzistefanis found herself unfulfilled in her role amidst what she described as a “macho culture.” In the summer of 1999, her termination for underperformance led her to pursue a long-held passion for beauty, initiating a journey that would culminate in her own skincare business.

Shortly thereafter, she established Rodial, a luxurious skincare line celebrated for its creative products and unique ingredients. One of their popular offerings, “Dragon’s Blood,” features a bright red sap extracted from a tree in the Amazon. The product range is priced from £39 for micellar cleansing water to £130 for premium serums.

Not stopping at one brand, in 2010 Hatzistefanis launched Nip + Fab, targeting a younger audience with a more affordable product range. Partnering with high street retailer Boots and leveraging marketing efforts featuring global influencer Kylie Jenner, Nip + Fab quickly surpassed Rodial in terms of growth.

As of last year, the combined valuation of Rodial and Nip + Fab reached £100 million, with sales exceeding £26.7 million. Hatzistefanis has also become a social media influencer, amassing over a million followers on platforms like Instagram and TikTok. She currently serves as an investor on the Greek adaptation of Dragons’ Den.

Participating in the show allows Hatzistefanis to reconnect with her roots, having grown up on the Greek island of Lesbos. Her upbringing, shaped by her mother’s role as a teacher and her father’s career as an author, laid the foundation for her passion for creativity.

From an early age, Hatzistefanis, originally named Maria Papageorgiou, had a fervent interest in fashion and beauty, initiating her career at the Greek version of Seventeen magazine. She later sought a more traditional career path, moving to New York to follow her then-boyfriend Stratis Hatzistefanis — who is now her husband and a key business partner — and financing her education at Columbia Business School with support from her parents. Living in New York was, in her words, “a dream come true.”

After completing her MBA, she joined Salomon Brothers but soon became disillusioned, finding herself disengaged from the workplace culture. In her autobiography, she recounted how her dissatisfaction led her to underperform, culminating in her eventual dismissal — an outcome she viewed as inevitable.

With newfound focus, she pivoted her career towards the beauty industry, investing £20,000 of her savings into creating Rodial, after identifying a gap for a premium skincare brand addressing specific skin concerns, like anti-aging and hydration.

Initial growth was gradual and challenging, as Hatzistefanis single-handedly managed orders and shipments. She recalled the loneliness of the early years without a support team, noting that interviews often took place in local coffee shops, which sometimes deterred potential hires.

Her persistence eventually led to partnerships with prestigious retailers like Harvey Nichols and Harrods, helping launch products like Tummy Tuck and Snake Serum, the latter of which claims to mimic Botox effects.

Rodial’s celebrity endorsements, including notable figures like Lady Gaga and Elle Macpherson, were instrumental in enhancing its profile. When launching Nip + Fab, Hatzistefanis made celebrity collaborations a strategic focus. Kylie Jenner’s organic endorsement of the brand helped elevate it significantly.

Hatzistefanis’ prior experience from Rodial’s establishment equipped her with the necessary insights for Nip + Fab’s swift rise. The brand has strategically shifted focus from Gen Z to a slightly older demographic, recognizing that marketing to Gen Z can be prohibitively expensive and that building lasting customer relationships can be more advantageous.

Hatzistefanis and Stratis own their business outright, having rejected initial investment offers in favor of maintaining control. She approached various venture capital firms early on but faced skepticism about investing in a female entrepreneur without a background in beauty.

Years later, after Rodial began generating substantial revenue, she received an investment offer but ultimately declined, realizing it did not align with her vision for the brand. Hatzistefanis emphasized that choosing the right partnership is vital, particularly in avoiding compromising decisions during tough times.

Now, as an investor on Dragons’ Den, Hatzistefanis reflects on her entrepreneurial journey while supporting emerging talent. Initially hesitant about committing time to the show, she soon found joy in mentoring and investing in startups, an experience she describes as creatively fulfilling without the pressures of running a business.

Insights from Maria Hatzistefanis

My inspiration: Anna Wintour of American Vogue. Her enduring relevance fascinates me and is a benchmark I strive for in my business.

The pivotal moment: When I chose to name Rodial’s first anti-aging product as Snake Serum, a decision that propelled it to viral fame.

Lessons from failure: The initial struggle to secure investment taught me discipline in spending and resulted in sustained profitability.

A key piece of advice: Always take the first step; waiting for the perfect moment often leads to missed opportunities.

The best guidance I received: Always have a backup plan; failure is simply a different pathway to success.

The consumer prices index (CPI) surged to 3.5% in April, an increase from March’s 2.6%. The core CPI, which excludes volatile items like energy and food, also rose from 3.4% to 3.8%, and services inflation escalated from 4.7% to 5.4%.

This sudden uptick in inflation stems from rising bills observed in April, including council tax, water charges, and an increase in the energy price cap that regulates what suppliers can charge for standard deals.

The inflation surge is expected to hinder the Monetary Policy Committee (MPC) of the Bank of England from further interest rate cuts during their upcoming meeting on June 19. Increased interest rates typically serve to curb spending and borrowing, potentially controlling inflation.

The Bank’s rate has seen four reductions, dropping from 5.25% in July 2024 to 4.25% this month. In March, the Office for Budget Responsibility predicted a decline in interest rates to 3.8% by mid-2026.

Daniel Casali, chief investment strategist at Evelyn Partners, stated, “If inflation surpasses projections, as the recent figures suggest, the MPC may postpone additional interest rate cuts, especially if the real economy remains steady.” The real economy refers to sectors that produce and sell goods and services rather than the financial market.

Implications for Savers

Inflation can diminish your cash’s purchasing power if your interest earnings do not at least match the rising cost of living—currently, the average easy-access interest rate stands at 2.76%, which is significantly below the new inflation rate. However, there are savings accounts available that offer inflation-busting returns.

For example, an easy-access account from the savings app Chip provides 4.77%, including a 1.42 percentage point bonus for the first 12 months. Nevertheless, it’s important to note that easy-access accounts generally have variable rates, which means your interest can be altered at any time.

For those who require immediate access to their funds, now might be a suitable opportunity to consider transferring some savings into a fixed-rate account, where you can secure a rate and avoid potential future cuts.

The highest rate for a one-year fixed account is offered by Habib Bank Europe, which provides 4.4%, requiring a minimum opening balance of £5,000.

Implications for Mortgage Borrowers

Mortgage rates have consistently decreased as the Bank of England has lowered its rate. According to Moneyfacts, the average two-year mortgage deal is now 5.11%, down from 5.23% a month ago and 5.33% two months prior. Several options are available below 4%. For instance, Nationwide offers a two-year fix at 3.89% and the same rate for a five-year deal, both requiring a 40% deposit and a £999 fee.

Given the current uncertainty, predicting the future trajectory of mortgage rates is challenging. Sarah Coles from Hargreaves Lansdown advises securing a rate now if you’re approaching a remortgage, then reassessing when your current deal expires.

“If rates have decreased again, you can explore better options. If the market is caught unprepared, you’ll have secured a favorable deal,” she added.

Generally, borrowers can lock in a mortgage rate up to six months before their existing mortgage term concludes, allowing them to secure a deal and potentially dodge a higher standard variable rate if rates rise before their renewal date.

Trump’s administration swiftly imposed a freeze on over $90 billion in federal funding designated for climate technologies. This freeze casts doubt on the future of an $85-per-ton subsidy aimed at carbon-capture technology, which is crucial for removing carbon dioxide from industrial emissions.

A permanent freeze or repeal of these subsidies could spell disaster for many companies, including Carbon Clean, which has $1.5 billion in U.S. projects in various stages of development. Sharma highlighted the potential impact, stating, “If that support isn’t there, these projects will never see the light of day. We are in a wait-and-watch mode at this point of time. Our customers are waiting to hear back on what happens with their project going forward.”

A stark contrast to the optimism felt in 2022 when Joe Biden’s Inflation Reduction Act (IRA) introduced a $370 billion package in green technology subsidies, grants, and tax breaks. At that time, Sharma remarked that the new carbon capture and storage subsidy had expanded the market significantly, making previously unviable projects financially feasible.

However, the abrupt policy shift under Trump, coupled with global trade tensions, has left companies scrambling for alternative funding, with reports indicating that some may not withstand this new landscape. Frederic Lalonde, CEO of Deep Sky, a carbon-removal start-up, noted, “All procurement has stopped. Nothing’s moving.”

Since Trump’s resurgence in power, 16 major projects worth over $8 billion—such as a $1.2 billion battery plant in Arizona—have been canceled, based on data from E2, a climate lobby organization. Additionally, Natron Energy’s efforts to secure a $1.4 billion government loan for a new factory are now stalled.

Despite the wary atmosphere, some investors maintain a level of calm. Andrew Beebe from Obvious Ventures, a significant player in climate investment, suggested that the lessons learned from this unpredictability demonstrate the challenges of relying on government subsidies, especially in the early stages of technology adoption.

Start-ups focusing on direct air capture (DAC)—which extracts carbon dioxide from ambient air as opposed to concentrated emissions—are among those most affected. This method faces criticism due to its high costs, with subsidies for DAC currently set at $180 per ton, significantly higher than traditional carbon-capture initiatives. Beebe pointed out that he’s not particularly upset about the discontinuation of DAC funding.

Grant Faber, who previously oversaw the relevant projects at the Department of Energy, was not surprised by the funding halt. He highlighted the communication barriers set by the White House, preventing any discussions with the companies on the receiving end of federal aid.

“The sad thing is, even if we could have met with them and talked, there was nothing to say because no permissions were being granted,” he stated, emphasizing that Congress had legislated these funds for specific projects, implying a legal requirement for continuation unless official action states otherwise.

The implementation of the Biden act also contributed to sharp increases in construction expenses. Sharma reported that welders’ wages have surged in Texas due to the competitive demand created by government-backed projects, driving overall costs up by as much as 40% for some initiatives.

Looking to the future, the survival of many companies may hinge on advocacy from Congress and legal challenges. Both Democratic and Republican representatives are actively lobbying to protect the at-risk projects scattered across the nation, which include electric vehicle charging stations and carbon-management facilities.

Notably, this political tug-of-war may ultimately undermine Trump’s own America First agenda. Prominent supporters of DAC technology include major oil corporations such as Exxon Mobil and Occidental Petroleum, both of which are investing significantly in projects that could boost oil recovery through carbon injection.

Despite the challenges, a substantial portion of America’s largest corporations is setting ambitious sustainability targets, with 45% of the S&P 500 working towards a “net zero” goal.

Beebe remarked, “I don’t think, collectively, America has figured out if we are shooting ourselves in the foot or in the face. But the Trump administration is making significant mistakes affecting the future of our economy and competitiveness.”

Meanwhile, state attorneys general are pushing back against the freeze on federal funding, with a coalition of states led by California actively suing the government over the suspension of $5 billion earmarked for EV infrastructure. California’s Governor Gavin Newsom criticized Trump’s approach, urging support for bipartisan funding initiatives.

As various political conflicts unfold in Washington, the fate of both emerging and established firms hangs in the balance. Sharma summarized the situation, expressing cautious optimism: “So many lawmakers on both sides have already sent in letters saying, ‘Hey, this should be preserved.’ I think the chances of the [removal of aid] happening are very minimal.”

Olley’s resignation comes less than two years after he took the helm, coinciding with the return of Peter Hargreaves, the firm’s co-founder, to its board.

The 55-year-old Olley is reportedly leaving for personal reasons that prevent him from remaining with the Bristol-based firm during the transition period under its new owners, which include CVC Capital Partners.

Richard Flint, 53, a former executive in the gambling sector, will assume the role of interim CEO as he leads a newly formed transformation committee aimed at revitalizing the company.

The board expressed the necessity of having a long-term leader in place during this critical transition phase, hence the decision to appoint Flint temporarily while they search for a permanent successor.

Olley’s exit opens up one of the most visible and challenging positions in the UK wealth management sector.

Founded 44 years ago by Hargreaves and Stephen Lansdown from a spare room, Hargreaves Lansdown operates the UK’s largest online retail investment platform, enabling individual investors to trade shares, purchase funds, and manage ISAs and self-invested personal pensions. In the past year, the firm managed approximately £157 billion in assets for 1.9 million clients, enriching its co-founders, both of whom are billionaires. Despite its leading market position, the company has struggled in recent years due to increased competition from rivals like AJ Bell.

Olley’s predecessor, Chris Hill, had implemented a strategy to expand the company’s services beyond its core DIY platform to include investment advice. However, investors were skeptical about the expenses associated with Hill’s plan, while Hargreaves criticized the strategy publicly, negatively impacting the company’s share price.

This combination of a declining stock price and Hargreaves’ criticism made the company vulnerable to acquisition, which led to the takeover by a consortium including CVC, Nordic Capital, and the buyout branch of the Abu Dhabi Investment Authority, which offered £11.40 per share.

In the deal, Hargreaves sold half of his nearly 20 percent stake for around £535 million but retained the rest to stay invested after the company was delisted.

He has rejoined the company as a non-executive director of its new parent entity, while his son Robert has taken on the role of a board observer.

Olley will remain for three months to ensure a smooth transition to Flint, who has previously led Sky Betting and Gaming.

Bruce Hemphill, chairman of Hargreaves Lansdown, remarked that Olley has “done an excellent job in charting the course for the first phase of HL’s transformation.” He emphasized Flint’s extensive experience in navigating digital businesses through change in highly regulated environments.

High-Level Departures Continue at Hargreaves Lansdown

Olley’s departure adds to the trend of senior management leaving Hargreaves Lansdown following its delisting from the London Stock Exchange.

Recent exits include Claire Chapman, the former general counsel and company secretary, and Amy Stirling, the finance chief.

Sources indicate that these departures were anticipated due to the shift away from public company obligations. Moreover, Ruchir Rodrigues, who joined as the chief client and commercial officer in late 2022, is also leaving for a larger role at Lloyds Banking Group.

In the backdrop of these changes, Peter Hargreaves has resumed a more active role as a non-executive director of the new parent company, a decade after he stepped down from a similar position, signaling a greater involvement in the firm’s future. Conversely, Stephen Lansdown has liquidated his remaining shares as part of the acquisition, marking the end of his active role in the business.

These leadership changes occur as the company’s workforce of roughly 2,800 prepares for the new owners—a consortium of CVC, Nordic Capital, and the Abu Dhabi Investment Authority—to implement their turnaround strategies, which may include workforce reductions.

The consortium noted in its acquisition document that while it does “not intend to make a material reduction in the overall headcount” within the first year, future reductions may occur, with an annual decrease of up to 3 percent beyond that initial period.

The exchange resumed trading the following day in its basement.

Dame Julia Hoggett, the exchange’s chief executive, referenced this incident on Tuesday, emphasizing that resilience in the face of threats, particularly cyberattacks, is not a new concept for businesses.

Her remarks came during an event where the exchange welcomed investors, market participants, and military personnel, underlining the collective responsibility they share with the armed forces to safeguard and promote the nation’s economic prosperity.

The linkage between the financial markets and UK defence policy has become increasingly clear in the wake of Russia’s invasion of Ukraine. However, even as recently as July 2023, the industry group ADS revealed that the percentage of investment funds avoiding defence for ethical reasons surged to 91%, up from 59% in 2021.

As Hoggett described, there remains a pressing need to ensure that every segment of the market recognizes the significance of investing in the defence sector and to remove any self-imposed investment barriers. She highlighted that the Financial Conduct Authority recently clarified that UK sustainability regulations do not obstruct investments in defence firms.

Despite this, some investment professionals still harbor skepticism towards defence, a sentiment that reflects a broader concern regarding its perception as a public good. Notably, one speaker pointed out that a functioning economy relies on robust defence and security.

This skepticism is often fueled by the belief that defence spending is marred by inefficiency and waste. The Commons public accounts committee (PAC) highlighted a £16.9 billion shortfall between forecasted defence equipment costs and budget availability last year.

However, there are positive signs of reform on the horizon. The strategic defence review is set to be published in late June or early July, and current procurement reforms aim to drastically reduce the time required for acquiring planes, tanks, and ships from an average of six years to just two, and for upgrades to communications and weapon systems from three years to one.

Additionally, Andy Start, the chief executive of the MoD’s Defence Equipment and Support, outlined an initiative to accelerate the commercial use of emerging technologies, referred to as a “3-2-1 process,” where the MoD seeks three bids, conducts two trials, and then scales up the most promising capability.

This push for enhanced procurement efficiency is crucial as defence spending is projected to rise to 2.5% of GDP by April 2027.

Further defence initiatives also hold potential for growth. At the event, John Healey, the secretary of state for defence, announced a new MoD “marketplace” designed to foster innovation from inception to deployment. This initiative will collaborate with software, data, and AI providers to streamline partnerships between businesses and the MoD.

This step addresses a long-standing issue wherein less than 5% of the MoD’s direct expenditure is allocated to small and medium-sized enterprises (SMEs), compared to approximately 30% in the United States. While SMEs likely receive a larger share of overall UK defence spending through the supply chains of major contractors, there is significant room for improvement.

Healey also elaborated on the UK Defence Innovation initiative, which aims to expedite the delivery of new technologies to the field. He indicated that the organization, which has been assigned an initial annual budget of £400 million, should be operational by July.

The impetus for much of this initiative stems from the conflict in Ukraine, which has demonstrated the rapid deployment of technologies on the battlefield, particularly drones. The MoD’s Task Force Hirst initiative, launched last year, has shown the need to enhance industrial capacity to better equip Ukrainian forces and replenish UK stockpiles depleted by support to Kyiv.

To date, around £8 billion has been allocated to this initiative, encompassing approximately 50 million individual items, which have provided critical insights into industry mobilization, procurement improvements, and innovation promotion, while integrating non-traditional contractors into supply chains. According to MoD insiders, this initiative has significantly enhanced the sector’s operational capacity.

While optimism is warranted, the escalating threat landscape mandates continued rapid innovation within the sector. One speaker at Tuesday’s event likened Russia’s threat to a hurricane—immediate and disruptive—while positioning China’s influence as a long-term, evolving concern.

He emphasized, “Chinese technology is proliferating globally. Our armed forces will encounter these advancements, presenting a significant challenge.”

It is crucial for the financial sector to play an active role in this context.

The London Stock Exchange has a historical understanding of this, having sent 1,600 members and clerks to France as part of a voluntary Stockbrokers Battalion in 1914, of whom 400 did not return.

Ian King is a former Business & City Editor of The Times

This development underscores a more serious issue: this year’s auction for renewable energy sources could determine the future of net-zero ambitions. Should the auction fail to secure sufficient capacity at competitive prices, it may undermine Energy Secretary Ed Miliband’s claims regarding renewable energy being more cost-effective than fossil fuels, jeopardizing his target of achieving a near carbon-neutral electricity supply by 2030.

The auctions form a crucial part of the strategy established by various administrations to transition the UK away from coal, oil, and gas, fulfilling national and international obligations under the 2016 Paris Climate Agreement. The inaugural auction took place during David Cameron’s government in 2014, and this year marks the seventh iteration, officially known as allocation round seven. The process involves detailed regulations, and numerous consultancies and law firms benefit from advising participants.

At its core, the auction process is relatively simple. The government sets a low-carbon electricity target, inviting companies to bid to supply this energy. A guaranteed price for the power is established, with commitments to maintain that price for typically 15 years. If the market price fluctuates above the guaranteed rate, the difference is covered by a charge on consumers’ electricity bills. Conversely, when the guaranteed price is lower than the market rate, consumers benefit from reduced bills. This mechanism, known as the “contract for difference,” is frequently referenced in discussions regarding renewable energy subsidies.

This system has proven effective, particularly in fostering investment in offshore wind. In 2014, wind power constituted 9 percent of the UK’s electricity; by last year, this figure rose to 30 percent, surpassing gas at 26 percent, while overall renewables accounted for half of the national electricity mix. Coal’s contribution has diminished significantly, from 10 percent at the beginning of the century to nearly non-existent today.

Despite this progress, there remains considerable work ahead to meet climate change objectives, along with Miliband’s secondary goal of a largely fossil-free grid by 2030. The target calls for between 43 and 50 gigawatts of offshore wind capacity to be operational by the decade’s end. Currently, 28.6 gigawatts have either been completed, are under construction, or have received approval (this figure was previously 31 gigawatts before Hornsea 4’s withdrawal), meaning at least 14 gigawatts need approval in the upcoming auction or the one following. After this, it will be too late to impact the 2030 aims.

Unfortunately, the timeline is falling behind schedule. Last year saw bids submitted in February, with contracts awarded by September. In contrast, this year’s auction has yet to initiate, with the government only indicating that the process will begin in the summer. Insiders suggest a possible start in July, likely delaying contract awards until next year.

The holdup is largely due to modifications in the auction framework. Notably, the budget for the auction will now be disclosed only after bids are evaluated, a departure from prior practices. The Secretary of State (Miliband) is also equipped with enhanced authority to review anonymized bid information before finalizing the budget, allowing for adjustments to ensure the availability of adequate funding for the desired power allocation. Another factor contributing to delays involves a critical choice regarding a potential shift from national to zonal pricing in electricity, a significant matter for wind farm developers seeking to avoid negative changes.

Moreover, the issue of pricing looms large. Miliband has asserted that a transition to renewable energy will lead to lower electricity costs, yet the Hornsea 4 situation casts doubt on this claim. Orsted initially agreed to a price of £56 per megawatt-hour (MWh), which, when adjusted for inflation to this year, equates to approximately £82—already higher than the current mid-70s market price. If Orsted cannot justify the project at £82, it signals that bids this year might be even pricier. Furthermore, Hornsea 4 is now effectively sidelined, as auction regulations prohibit its re-entry for two years, although the government may be inclined to seek ways to reintegrate it.

Ultimately, the dynamics of oil and gas prices will heavily influence the landscape. A sharp increase in these prices, akin to those seen during the recent Russia-Ukraine conflict, could validate Miliband’s position. However, presently, oil prices have declined significantly, from around $85 a barrel to $63 over the past year. Gas prices have also experienced volatility but recently dropped from 125p per therm to 101p.

This situation culminates in a challenging outlook for the energy secretary. If upcoming bids exceed market values, he may have to confront the reality of abandoning promises for reduced energy bills. Nevertheless, he has two fallback premises: the necessity of renewables for meeting climate targets and their potential to bolster energy supply security. Yet, in a government increasingly focused on economic growth and responding to calls for lower energy costs, these rationales might fall on uninterested ears.

Those utilizing meters governed by the aging Radio Teleswitch Service (RTS) technology have been notified that the operational signal will cease on June 30.

Energy companies, consumer advocacy groups, and the regulatory body Ofgem are calling on those impacted to take advantage of the free installation of upgraded meters before the impending deadline, with a promotional video featuring Lorraine Kelly aimed at raising awareness.

As of early May, approximately 365,995 households and enterprises were still operating with RTS meters. The current installation pace of about 1,200 to 1,300 replacements daily is insufficient. Advocates have suggested that the deadline may require another extension, given that it has already been postponed from March of the previous year.

Despite acknowledging the difficulties in replacing all the meters in time, the energy sector has resisted extending the deadline further. There are concerns that customers might refuse the replacements. However, the cessation of the signal is expected to occur incrementally rather than uniformly on June 30.

Energy UK, the sector’s trade association, stated it is collaborating with government officials and the regulator to implement a smooth phase-out process that minimizes disruptions for remaining customers, especially those in precarious situations.

The RTS meters rely on a transmission network that is over four decades old, and industry representatives assert that it is nearing obsolescence and must be substituted. This signal allows meters to fluctuate between peak and off-peak pricing.

Typically, households using these meters are not connected to the gas grid and rely on electric heating or storage heaters, along with time-variable electricity tariffs such as Economy 7.

Simon Francis, coordinator of the End Fuel Poverty Coalition, emphasized that Ofgem must formulate a crisis plan, including provisions for postponing the shutdown.

“While the RTS signal is impractical for the long haul, the timeline isn’t strictly a technological matter—it’s a decision with human implications. A significant number of RTS meters will still be in use when the signal starts to decline, and the consequences are uncertain,” he commented.

“This could leave people with either persistent heating and hot water leading to inflated bills or complete absence of heat, a situation that could be catastrophic, particularly for senior citizens,” he added.

Charlotte Friel, Ofgem’s director for retail pricing and systems, reiterated, “We have clearly stated that the signal in a specific area should not be shut down until providers have shown they can promptly address any issues faced by customers.”

“While this carefully managed transition should ensure customers feel secure, it remains vital that these meters are supplanted. I encourage customers to interact with their supplier when an appointment is offered, even if it occurs after the June 30 initiation date of this process,” she advised.

A study conducted by Ivanti, a US enterprise software firm, has found that 29 percent of UK workers are secretly employing AI solutions in their workplaces without informing their employers.

Amid rising concerns surrounding the cybersecurity risks linked to unregulated AI deployment, its adoption continues to accelerate in the UK. Recent data indicates that almost half — 49 percent — of UK employees reported using AI at work in 2025, a significant increase from 32 percent the previous year.

In a job market that has stagnated, with vacancies reaching a four-year low in the first quarter, 28 percent of participants expressed anxiety about job security if their employers learned about their use of AI. Conversely, 38 percent appreciated the perceived “secret advantage” it afforded them.

The study also highlighted a notable psychological effect, with approximately one in four (27 percent) acknowledging feelings of “AI-fueled impostor syndrome,” fearing that others might doubt their capabilities.

Brooke Johnson, Ivanti’s chief legal counsel, cautioned that employees using technology without appropriate guidelines or authorization risk inviting cyber threats, breaching company policies, or compromising sensitive information. She emphasized the necessity for organizations to create a transparent governance system, given that many workers seek more AI-driven solutions to enhance productivity.

“Employers who neglect to foster innovation with empathy and grant employees autonomy risk losing valuable talent and undermining productivity,” Johnson remarked.

The research also revealed deeper dissatisfaction among the workforce. Forty-four percent of employees reported experiences of “resentmentism” — continuing in a role they no longer enjoy — while 35 percent engaged in “presenteeism,” attending work primarily to be seen rather than to be productive.

Presenteeism can manifest in various ways, such as logging into work significantly before official hours or manipulating a mouse to keep workplace messaging apps like Slack visible as “active”.

Findings point to a disconnect between what leaders expect from their teams and what employees prioritize. While many executives believe returning to the office will enhance productivity, employees increasingly favor flexibility in their work arrangements, including adjustable hours or opportunities to leave early for personal commitments.

Half of UK employees indicated they would contemplate resigning for more flexible work options, with 61 percent perceiving rigid schedules as a sign of their employer’s disregard. This shift highlights a growing demand for flexibility and autonomy within the workplace.

Greenergy, a company owned by the global commodities trader Trafigura, has announced the temporary halt of operations at its Immingham facility in Lincolnshire. The suspension is part of a strategic review aimed at assessing the plant’s economic viability in light of the significant difficulties confronting the UK’s biofuels sector.

This facility employs 60 workers and produces about a quarter of the UK’s domestic biodiesel output, primarily derived from waste materials like used cooking oils. Biodiesel is mixed with fossil fuel diesel, constituting 7% of the diesel sold at fuel stations nationwide, and contributing to the decarbonization of transportation fuels.

The biofuels industry is voicing concerns over the influx of hydrotreated vegetable oil (HVO), another type of biodiesel, imported from the US, where its production is financially supported. While the EU has imposed protective tariffs on US HVO, the UK lifted similar safeguards in 2022.

A month ago, the UK’s Trade Remedies Authority initiated an anti-dumping investigation to determine whether US HVO imports are being sold at unfair prices or being subsidized, causing damage to the UK industry. This inquiry was prompted by complaints from Greenergy and other local biodiesel producers.

Greenergy reported that despite making considerable cost-cutting efforts at the Immingham site, prevailing market conditions are still unfavorable.

Previously, another biodiesel plant in Motherwell, Scotland, ceased operations last year, citing the effects of the UK’s removal of trade protection measures post-Brexit on renewable diesel imports from the US. This change reportedly led to an influx of nearly 500,000 tonnes of subsidized US biodiesel.

This announcement from Greenergy arrives shortly after leading bioethanol manufacturers in the UK raised alarms about their sustainability being compromised by the same trend of cheap American imports. The UK has recently agreed to eliminate tariffs on US bioethanol, part of a new trade agreement.

Gaynor Hartnell, CEO of the Renewable Transport Fuel Association, emphasized the need for immediate governmental action to preserve domestic renewable fuel production, warning that reliance solely on imports could be detrimental. She noted, “A series of damaging decisions have been made in recent years, all of which could have been avoided and can still be corrected, but time is of the essence.”

A government representative commented that they are aware of the challenges facing the sector and are collaborating closely with stakeholders to understand their concerns and the potential impact on their businesses.