Thursday newspaper round-up: UK graduates, Andy Burnham, Micron Technology

(Sharecast News) - Great Britain's grid operator is expected to pay millions to fire up gas power plants to avoid a rare summer power supply crunch on Wednesday evening as extreme heat puts pressure on the energy system. The National Energy System Operator (Neso) is expected to pay about �10m on Wednesday to secure enough electricity to meet demand as households turn on air conditioners and electric fans, according to industry data. - Guardian

A quarter of UK graduates can expect to be financially worse off after going to university, especially those who take creative or performing arts degrees, according to new estimates by the Institute for Fiscal Studies. The research is based on the pay of students who graduated in the teeth of the global financial crisis in 2008. While the IFS projects that the majority will be �100,000 better off in lifetime pay thanks to their degree, about 25% might have done better without entering higher education once their likely pay, student loans and taxes are added up. - Guardian

Labour is poised to encourage farmers to give up beef production and plant lentils to help combat climate change. On Wednesday, the Government's long-awaited "farming roadmap" proposed helping landowners switch from high-emission farming - such as cattle - towards "growing oilseeds and pulses" to meet the increased demand for plant-based goods. - Telegraph

Andy Burnham is considering devolving income tax across Britain in an effort to give local authorities greater power, a senior adviser has said. Lord O'Neill of Gatley, who is tipped to become Mr Burnham's chief economic adviser, said the presumptive future prime minister would explore devolving "aspects of income tax" when he enters No 10. - Telegraph

Micron Technology forecast quarterly revenue above Wall Street estimates on Wednesday night, signalling that insatiable �demand for artificial intelligence-related infrastructure will continue to drive strong demand for its memory chips. The company, which manufactures computer memory and computer data storage products, expects fourth-quarter revenue of $50 billion, plus or minus $1 billion, compared with analysts' �average estimate of $43.58 billion, �according to data compiled by the London Stock Exchange Group. - The Times

Facebook's owner, Meta Platforms, is looking at creating its own prediction markets app as part of an effort to expand into new platforms and drive online engagement. Mark Zuckerberg, Meta's founder and chief executive, has asked a small team to work on developing a smartphone app to cash in on the rapidly growing market for online betting, The New York Times reported. - The Times