Your commercial news round-up: Santander branches, AI job losses, driverless taxis, AI driven gas surge

Reading time: four minutes

The future of the UK high street is under fresh pressure as Santander prepares to shut dozens more branches, while the government warns that AI‑driven disruption will reshape the jobs market. In London, driverless taxis could arrive sooner than expected as Waymo accelerates plans for a full robotaxi rollout and, across the Atlantic, soaring AI energy demands are fuelling a record global boom in gas‑fired power, raising major climate concerns. Read on for LCN’s picks of this week’s top commercial stories!

• Santander is expected to close 44 more UK branches, putting 291 jobs at risk, as the bank continues to shrink its physical network in response to rising digital banking usage. This follows last year’s announcement of 95 branch closures, mirroring wider industry moves by rivals such as Lloyds, which plans to shut more than 100 branches by March. Santander said 96% of its transactions now take place online and the bank will deploy staff to nearby banking hubs or “Santander Locals” – weekly drop‑in points in libraries and community venues – to support those affected. The wave of closures has prompted criticism from ministers and campaigners, who warn that removing branches restricts access to cash, particularly for elderly and vulnerable people, and risks creating “banking deserts” in regions already underserved. While major banks continue to retreat from the high street, Nationwide has pledged to keep all 696 of its branches open until at least 2030, despite having shut 10% of its network before making the commitment.
   
• UK technology secretary Liz Kendall has warned that the rise of AI will lead to job losses, stating that “some jobs will go” as the technology reshapes the labour market. Speaking in London, Kendall addressed public concerns about graduate-level roles in sectors such as law and finance, although she said that new jobs will also be created. Kendall announced a plan to train up to 10 million Britons in basic AI skills by 2030, including cabinet ministers. The initiative aims to make the UK “the fastest AI adoption country in the G7”, supported by new AI growth zones. Kendall said: “We are on the cusp of great change – an industrial revolution [taking place] in a decade […] We have barely begun to see how this technology will transform all our lives – I believe for the better.” The government’s approach comes amid criticism over its dependence on major US AI firms.

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• Driverless taxis could begin operating in London as early as September, according to Waymo, which plans to launch a full robotaxi service once UK regulations change in 2026. The company will start an initial pilot in April and when the service launches for paying customers, cars will run with no human driver, although current trials still use safety drivers for mapping. Local Transport Minister Lilian Greenwood said automated vehicles could make roads safer as they “don't get tired, don't get distracted and don't drive under the influence”, but stressed they must meet strict cybersecurity and safety standards. The government estimates the autonomous vehicle sector could add £42 billion to the economy and create nearly 40,000 jobs by 2035. Pricing will be “competitive” but “premium”, according to a Waymo spokesperson and would rise with demand. Rivals Uber and Lyft also plan UK robotaxi launches, though some incidents of malfunctioning autonomous cars have previously been reported.
   
• A new Global Energy Monitor (GEM) forecast has warned that the US is driving a record global surge in gas‑fired power, largely fuelled by the soaring electricity demands of AI data centres. Planned and active projects worldwide are on track to make 2026 the biggest year ever for new gas capacity, nearly tripling today’s levels. GEM found that the US has tripled its planned gas‑fired capacity for 2025 and now accounts for almost a quarter of all global projects. About one‑third of the 252 gigawatts of gas power in development will be built directly on data centres sites. If completed, US projects alone would lock in 12.1 billion tonnes of lifetime carbon dioxide emissions, which is twice the country’s current annual emissions. Meanwhile, globally, the gas boom could emit 53.2 billion tonnes and worsen climate impacts such as heatwaves, floods and droughts. Project manager at GEM’s oil and gas plant tracker, Jenny Martos, commented: “Locking in new gas plants to meet uncertain AI energy demand means hard-wiring decades of pollution into a gambit that could be solved with flexible, clean power.”

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