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Industry

Trump moves to review power generation permit, again stalling offshore wind project

The Donald Trump administration is seeking to re-examine approvals for Revolution Wind, a large offshore wind project that has already begun supplying electricity. The U.S. Interior Department asked a federal court to send the matter back to the agency so it can review the construction and operations plan approval. The move stems from a lawsuit filed by anti-wind group Green Oceans. Connecticut criticised the action, saying it undermines power stability and investment predictability.

Crypto

Bank of England says no need to rush digital pound, focus shifts to stablecoins

The Bank of England reaffirmed it is in no rush to issue a digital pound, saying there is no immediate need for a central bank digital currency. Deputy Governor Sarah Breeden said commercial stablecoins and tokenised bank deposits could fill payment gaps. The bank is putting weight on fostering a pound-denominated stablecoin market to prevent shifts to dollar-linked coins. The bank and UK Treasury aim to complete the design phase by end-2026.

Industry

Lilly\'s next-generation obesity drug retatrutide shows 25 percent weight loss in 80 weeks

Eli Lilly\'s next-generation obesity drug candidate retatrutide showed an average 25 percent weight loss at the highest dose after 80 weeks in a Phase 3 trial. Among participants who extended treatment to 104 weeks, average weight loss rose to 30 percent. Results were published in the New England Journal of Medicine, with more than one-third losing at least 30 percent of body weight. The study did not directly compare retatrutide with existing obesity drugs, and researchers said further trials are needed.