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Times Radio News Briefing

31 Oct 2026 · 3m · 2 chapters

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Daily Briefing Saturday 31st October

In short

This Times Radio news briefing (Saturday 31 October) covers: Binance says it will publish findings on how it lost $6.3bn after a hack; it hopes withdrawals resume by tomorrow morning, and says Secret Service, Binance and partners have already seized about $3bn and made funds unusable/trading-disabled. North Korea is suspected; FBI and US Secret Service are investigating. UK clean energy: Chancellor’s veto threat if projects only add generation without grid capacity; wind curtailment costs hit £47m in one day (Wasted Wind/Octopus Energy). Politics: Andy Burnham open to a formal state apology for slavery; PM rejects reparations. King attends Commonwealth leaders’ meeting in Antigua. OpenAI cuts investor funding target from $30bn to $20bn; Green Party faces internal debate after membership drop and Zionism-as-racism controversy.

Guests

Will Guyot (tech journalist, Binance hack recovery details) and Ali Razamanji (political reporter, renewable energy/grid policy shift).

Written by AI. May contain mistakes.

Chapters

0:30

Cryptocurrency Heist and Recovery Efforts

Discussion on Binance's investigation into a major hack and recovery efforts.

“This is your Times Radio news briefing for Saturday 31st October.”
4:26

AI Funding Reductions and Political Implications

Examination of AI funding cuts and the political context surrounding it.

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Transcript

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0:00Hey, we're Nick and Jack, hosts of The Best One Yet. Behind every episode, there's research, email, spreadsheets, and our shared Google Doc, the headline hammer. With Google Workspace with Gemini, Google's AI is built right into the premium versions of tools we already use, like Gmail, Docs, and Sheets. No new tools or extra logins, just personalized AI for the way we work. That means less time on the work around the work and more time finding the stories worth talking about. Get AI tools for work. Upgrade to Google Workspace with Gemini at goo.gle slash workspace with Gemini. That's goo.gle slash workspace with Gemini.

0:37This is your Times Radio news briefing for Saturday 31st October. The cryptocurrency exchange company Binance says it will publish the findings of an investigation into how it lost$6.3 billion within the next two days. It hopes withdrawals will be possible by tomorrow morning. The exchange was hacked yesterday in what is thought to be one of the largest financial heists, But tech journalist Will Guyot told Times Radio there's been a team effort to recover what they've lost. It looks like within 24 hours, the Secret Service and Binance and their partners have managed to stop around$3 billion of those funds.

1:16They've managed to literally seize them back, put them into a state where they can't be traded or used. So they're already doing their best to try and claw as much of this back as they can. North Korea is expected of being behind the attack, which is being investigated by the FBI and the US Secret Service. The Chancellor's written in the Times that clean energy projects will be vetoed if all they do is add to a grid that can't handle the supply. Currently, consumers are paying to turn wind turbines off when the local cables can't handle any more energy. On Tuesday alone, this cost£47 million, according to Wasted Wind, a tracker run by Octopus Energy.

1:53Political reporter at Times Radio Ali Razamanji says this marks a change in approach to renewable energy. The push from various governments, from the Boris Johnson government onwards really towards net zero, has been to build green infrastructure to decarbonise the grid by 2030 and get us on a pathway where building these wind turbines and so on will basically fuel our energy in the future. Now the challenge for that is that the grid actually has to be updated to do that. And in many cases the grid has not been updated in time to do that. And really that means that even when wind turbines and so on are built, they basically don't have the network in place for that to really work.

2:29Andy Burnham said he's open to calls for a formal apology on behalf of the British state for its role in the transatlantic slave trade. The Prime Minister's said in The Guardian that sticking our heads in the sand has damaged the ability of the Commonwealth to function ahead of a meeting of leaders there next week. But he's said reparations are not the right answer, as British people today cannot be held liable for historical wrongs. Meanwhile, the King has arrived in Antigua and Barbuda for the same conference. OpenAI has hugely cut its funding target from investors from$30 billion to$20 billion because of a brutal sell-off of AI stocks and growing anxiety about the pace and extent of AI spending.

3:08According to the FT, some of its investors lowered their figures and it is now competing for attention with Anthropic, which is set to go public on the stock exchange next month. Senior figures in the Green Party are expected to call for a conversation about the party's future because of concern about the number of members leaving and its direction 18 ,000 members have left the party since May falling to about 212 ,000 after the conference from a height of 230 The Greens have faced criticism and division after a party vote to declare Zionism as racism For more stories like this, listen throughout the day to Times Radio

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From the publisher
The Times Radio daily briefing for Saturday 24th October. For more on these stories throughout the day tune into Times Radio - on DAB, online, through your smart speaker or on the Times Radio app.

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