{"id":2252842,"date":"2026-01-27T14:32:43","date_gmt":"2026-01-27T14:32:43","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2252842"},"modified":"2026-01-27T14:32:43","modified_gmt":"2026-01-27T14:32:43","slug":"business-rates-support-will-cover-both-pubs-and-music-venues-treasury-announces-business-live-business","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/business-rates-support-will-cover-both-pubs-and-music-venues-treasury-announces-business-live-business\/","title":{"rendered":"Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live | Business"},"content":{"rendered":"<p><\/p>\n<div id=\"liveblog-body\"><gu-island name=\"EnhancePinnedPost\" priority=\"feature\" deferuntil=\"idle\" props=\"{}\"\/><\/p>\n<div id=\"pinned-post\" data-gu-marker=\"pinned-post\" data-component=\"pinned-post\" class=\"dcr-r5tmyr\"><input type=\"checkbox\" id=\"pinned-post-checkbox\" name=\"pinned-post-checkbox\" tabindex=\"-1\" class=\"dcr-11n52fl\"\/><\/p>\n<div id=\"collapsible-body\" class=\"dcr-1axsptg\">\n<article class=\"block dcr-1xlsn8h\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">Business rates support will cover both pubs and music venues, Treasury announces<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\">In a statement to the Commons, <strong>Dan Tomlinson<\/strong>, exchequer secretary to the Treasury, has announced changes to how it will impose business rates on hospitality venues.<\/p>\n<p class=\"dcr-130mj7b\">He said the government \u201cdoes want to go further to support pubs\u201d and under the new measures every pub in England will get 15% off its new business rates bill from April. The bill will then be frozen in real terms, factoring in inflation, for a further two years.<\/p>\n<p class=\"dcr-130mj7b\">The support would be worth \u00a31,650 for the average pub, Tomlinson said.<\/p>\n<p class=\"dcr-130mj7b\">He added that the package would apply to music venues too and the government also said it would announce a review of the way hotels are valued.<\/p>\n<p class=\"dcr-130mj7b\">Tomlinson said that three quarters of pubs would see their rates bill fall or stay the same next year and that rates would be lower in 2028\/29 than they are today. He said that over the period the governemnt would review the methodology used to calculate how much pubs should pay in rates, which would be completed in time for the next revaluation.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978c6018f08e3f5cdc2279a&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978c6018f08e3f5cdc2279a&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978c6018f08e3f5cdc2279a#block-6978c6018f08e3f5cdc2279a\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T14:30:54.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 15:30 Central European Standard Time\">15.30 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<\/div>\n<p><label for=\"pinned-post-checkbox\" id=\"pinned-post-button\" class=\"dcr-zw7tgl\"><span id=\"svgminus\" class=\"dcr-yhdhkr\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M1 10.75v2.5h22v-2.5z\"\/><\/svg><\/span><span id=\"svgplus\" class=\"dcr-yhdhkr\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"m10.8 13.2.425 9.8h1.525l.45-9.8 9.8-.45v-1.525l-9.8-.425-.45-9.8h-1.525l-.425 9.8-9.8.425v1.525z\"\/><\/svg><\/span><\/label><\/div>\n<p><span class=\"dcr-90inr0\"><gu-island name=\"KeyEventsCarousel\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;keyEvents&quot;:[{&quot;id&quot;:&quot;6978c6018f08e3f5cdc2279a&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;In a statement to the Commons, &lt;strong&gt;Dan Tomlinson&lt;\/strong&gt;, exchequer secretary to the Treasury, has announced changes to how it will impose business rates on hospitality venues.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;8e5a1004-5041-48d1-a62c-8461720404f1&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;He said the government \u201cdoes want to go further to support pubs\u201d and under the new measures every pub in England will get 15% off its new business rates bill from April. The bill will then be frozen in real terms, factoring in inflation, for a further two years.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;e5fc7472-0a2b-47c4-9709-5b300c481887&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The support would be worth \u00a31,650 for the average pub, Tomlinson said.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;7cfcdfa0-148f-45c3-b860-3ea72849c1e5&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;He added that the package would apply to music venues too and the government also said it would announce a review of the way hotels are valued.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;355f67e1-09aa-4011-bd4c-5938d45ae368&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Tomlinson said that three quarters of pubs would see their rates bill fall or stay the same next year and that rates would be lower in 2028\/29 than they are today. He said that over the period the governemnt would review the methodology used to calculate how much pubs should pay in rates, which would be completed in time for the next revaluation.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;35dd8002-2b9b-483c-94a4-08f6963c199b&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:true,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769522689000,&quot;blockCreatedOnDisplay&quot;:&quot;15.04\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769524254000,&quot;blockLastUpdatedDisplay&quot;:&quot;15.30\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769523697000,&quot;blockFirstPublishedDisplay&quot;:&quot;15.21\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;15.21&quot;,&quot;title&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces&quot;,&quot;contributors&quot;:[],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;},{&quot;id&quot;:&quot;6978a6438f087d9994def4a6&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Treasury questions have moved on to business rates.&lt;\/strong&gt;&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;1752ec50-ca25-47ff-ad37-a4cdafb4ae62&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Dan Tomlinson&lt;\/strong&gt;, exchequer secretary to the Treasury, said he will make a statement this afternoon on a \u201cpackage of support in relation to business rates, with a particular focus on pubs\u201d. This will come around 1.30pm GMT, after a statement from Matthew Pennycook, the housing minister, on leasehold reform.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;50ce70fd-a30f-4311-bbd0-e65fb0fb911f&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.BlockquoteBlockElement&quot;,&quot;html&quot;:&quot;&lt;blockquote class=\\&quot;quoted\\&quot;&gt;\\n &lt;p&gt;As previously announced, we\u2019re introducing a support package with \u00a34.3bn to support ratepayers seeing increases in their business rates, bills.&lt;\/p&gt;\\n&lt;\/blockquote&gt;&quot;,&quot;elementId&quot;:&quot;e7274e74-5a3c-4f58-84e6-92cfc0004453&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;In the budget, &lt;strong&gt;Rachel Reeves&lt;\/strong&gt;, the chancellor, announced a \u00a34.3bn support package that included giving relief to businesses, intended to offset the end of a Covid support scheme that had reduced bills by 40%.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;450c8bf2-0c5e-40e4-919d-59fe6e339f5c&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;However, this has not proved to be enough to offset a significant increase in property tax bills caused by the first revaluations of properties since the pandemic from April.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;84a3fedb-d409-4a18-bf0a-c4187e39e691&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Q: Joanna Watson runs hotels in Sidmouth, the Elizabeth Hotel and the Kingswood Hotel, and she\u2019s essentially facing a 20% rise in her business rate costs. Joanna\u2019s bills don\u2019t reflect what she actually earns. They stay high all year round, even though there are months like in winter, when income completely collapses\u2026 Will he [Tomlinson] also consider the plight of hotels such as those in Sidmouth and say, we have considered the challenges that hospitality businesses and businesses on our high streets would face?&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;d4081b46-2da5-4b38-98fa-6bd8aa853d3e&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Tomlinson &lt;\/strong&gt;said:&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;21b0057a-1fa5-4f90-be30-3cbe04367681&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.BlockquoteBlockElement&quot;,&quot;html&quot;:&quot;&lt;blockquote class=\\&quot;quoted\\&quot;&gt;\\n &lt;p&gt;That\u2019s why we put in place the \u00a34.3bn of support at the budget. But we do recognise that there are concerns as to how hotels are valued for business rates. And that will be one of the items that I\u2019ll be talking about in the statement later today.&lt;\/p&gt;\\n&lt;\/blockquote&gt;&quot;,&quot;elementId&quot;:&quot;a58add87-e2a8-4505-93c3-7776fb8c2b13&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Pubs to get \u00a3100m a year support after business rates outcry&quot;,&quot;elementId&quot;:&quot;cfcb71d2-59aa-4783-adff-a7722a5163d3&quot;,&quot;role&quot;:&quot;thumbnail&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/business\/2026\/jan\/27\/pubs-support-package-business-rates-rachel-reeves-england-wales&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:false,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769514563000,&quot;blockCreatedOnDisplay&quot;:&quot;12.49\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769518312000,&quot;blockLastUpdatedDisplay&quot;:&quot;13.51\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769514922000,&quot;blockFirstPublishedDisplay&quot;:&quot;12.55\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;12.55&quot;,&quot;title&quot;:&quot;Treasury poised to unveil business rates support package \u2018with focus on pubs'&quot;,&quot;contributors&quot;:[],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;},{&quot;id&quot;:&quot;69789ae98f08891009b4ae68&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The UK fund manager &lt;strong&gt;M&amp;G&lt;\/strong&gt; expects to take a one-off hit of \u00a3230m from the government\u2019s proposed cap on ground rents.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;152b2433-73c5-4eb8-98c4-5a5ec658dd23&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Ground rents are to be capped at \u00a3250 a year for leaseholders in England and Wales, &lt;a href=\\&quot;https:\/\/www.theguardian.com\/politics\/keir-starmer\\&quot;&gt;Keir Starmer&lt;\/a&gt; has announced, as his government unveiled proposals to ban leaseholds for new flats. Millions of leaseholders stand to benefit from the overhaul of the leasehold system. Ground rents are set to be capped for a transition period of 40 years, and would then be reduced to zero.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;03082875-8c78-4f9e-9419-1b4e66c80187&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Leaseholders in England and Wales to have ground rent capped at \u00a3250 a year&quot;,&quot;elementId&quot;:&quot;a170f65b-1c8a-4d6b-8d1e-e9a849bf2089&quot;,&quot;role&quot;:&quot;thumbnail&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/money\/2026\/jan\/27\/leaseholders-england-wales-ground-rent-cap-250-a-year&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Making the ground rent announcement in a video posted on TikTok, Starmer said:&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;8609723e-076e-4fbe-9945-6317aebf02ce&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.BlockquoteBlockElement&quot;,&quot;html&quot;:&quot;&lt;blockquote class=\\&quot;quoted\\&quot;&gt;\\n &lt;p&gt;Good news for homeowners, we\u2019re capping ground rent at \u00a3250. That means if you are a leaseholder, and your ground rent is more than \u00a3250, you\u2019ll be paying less.&lt;\/p&gt;\\n&lt;\/blockquote&gt;&quot;,&quot;elementId&quot;:&quot;83559ed7-5129-4607-9c19-28f3f025c123&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;M&amp;G, however, argues that the changes are \u201cdisproportionate\u201d and will \u201cnegatively impact savers and companies that have chosen to invest in UK assets\u201d.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;7c4350de-7e9b-4a51-87d7-88868bec7e87&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The firm, which was spun off from the insurance and pensions group &lt;strong&gt;Prudential&lt;\/strong&gt; in 2019, has \u00a3722m of ground rent assets in its Prudential Assurance Company shareholder fund.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;b38c5d8b-6107-4678-b0bc-3e7a854227de&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;M&amp;G also said it is expecting a \u00a315m hit to its annual adjusted operating profit from 2028, although it stressed that it is \u201cwell positioned to absorb and manage the negative impacts generated by this proposed legislation\u201d.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;eb9991f3-0c9b-4d2b-8592-0d61defbf82e&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Subject to parliamentary timings, the ground rent cap could come into force in late 2028.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;4b40ba93-2efc-4e80-975d-420c2f4ba449&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The &lt;strong&gt;British Property Federation&lt;\/strong&gt; has warned that the government\u2019s plan to cap ground rents could discourage investment into the UK, and argues that landlords should get compensation.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;dd908c19-ad0d-4b68-813b-e2f67cc9017b&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:false,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769511657000,&quot;blockCreatedOnDisplay&quot;:&quot;12.00\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769514130000,&quot;blockLastUpdatedDisplay&quot;:&quot;12.42\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769513098000,&quot;blockFirstPublishedDisplay&quot;:&quot;12.24\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;12.24&quot;,&quot;title&quot;:&quot;M&amp;G to take \u00a3230m hit from ground rent cap&quot;,&quot;contributors&quot;:[],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;},{&quot;id&quot;:&quot;697896ff8f08891009b4ae15&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Evoke&lt;\/strong&gt;, the heavily-indebted gambling company, says it plans to shut some of its network of 1,400 &lt;strong&gt;William Hill&lt;\/strong&gt; betting shops, blaming Rachel Reeves\u2019 decision to increase taxes on the betting and gaming sector at November\u2019s budget.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;a3920063-444c-4bd4-ac9f-1c44272f3373&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The London-listed company paid \u00a32.2bn for William Hill\u2019s non-US assets in 2021 but has since watched its own stock market value slide to less than \u00a3120m, amid a series of &lt;a href=\\&quot;https:\/\/www.theguardian.com\/society\/2023\/jan\/30\/888s-middle-east-vip-gambling-accounts-suspended\\&quot;&gt;regulatory compliance problems&lt;\/a&gt; and a burgeoning debt pile.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;5536f5df-b634-43b2-8e1f-785bf6f70a76&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;At the end of 2025, Evoke &lt;a href=\\&quot;https:\/\/www.theguardian.com\/society\/2025\/dec\/10\/william-hill-evoke-sale-budget-tax-rises-bookmakers-888-online-casino#:~:text=The%20decision%20comes%20only%20four,bricks%2Dand%2Dmortar%20betting.&amp;text=Shareholders%20have%20since%20watched%20the,%C2%A3100m%20as%20of%20Wednesday.\\&quot;&gt;said it was considering a sale or breakup of the group&lt;\/a&gt;, after warning of a \u00a3135m hit from tax increases announced in last month\u2019s budget. 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Martens Women\u2019s Black Boots via Depop.&quot;,&quot;caption&quot;:&quot;Dr. Martens Women\u2019s Black Boots via Depop.&quot;,&quot;credit&quot;:&quot;Photograph: PR Image&quot;}},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Meanwhile, wholesale revenues jumped 9.3% in the quarter, with a shift towards wholesale in the UK and Germany.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;b87634bc-9123-45e3-baf3-cf3983364b34&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The fashion brand told shareholders that it expects revenues on a constant current basis to be \u201cbroadly flat\u201d this year as it prioritises profitability over revenue growth. It said it is \u201ccomfortable\u201d with meeting its profit targets for the current financial year, pointing to \u201csignificant\u201d pre-tax profit growth.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;5fc17ab9-94ac-4014-92de-c9b7121bcc67&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Dr Martens also expects a \u00a315m impact from currency rates because of volatility, more than the previously flagged \u00a310m.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;d45caa33-33c1-46e6-8545-8f7dcb75e0ea&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Ije Nwokorie&lt;\/strong&gt;, the chief executive, said:&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;6432d0f1-4ab2-48dc-bc27-a095d7606565&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.BlockquoteBlockElement&quot;,&quot;html&quot;:&quot;&lt;blockquote class=\\&quot;quoted\\&quot;&gt;\\n &lt;p&gt;This is a year of pivot, as we make the necessary changes to our business to set us up for future sustainable growth. I remain laser focused on executing our new strategy and we will deliver all four of our strategic objectives for full-year 2026.&lt;\/p&gt;\\n &lt;p&gt;We have continued to improve the quality of our revenue through a disciplined approach to promotions and this represents a headwind to overall revenue, particularly in ecommerce.&lt;\/p&gt;\\n &lt;p&gt;The EMEA [Europe, Middle East and Africa] market continues to be challenging, with our direct-to-consumer revenue performance impacted by both the market and our more disciplined promotional stance. We delivered a good wholesale performance, with growth broad-based across all three regions.&lt;\/p&gt;\\n&lt;\/blockquote&gt;&quot;,&quot;elementId&quot;:&quot;14bf66ec-b48b-414d-864c-27171d15bb6a&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;a href=\\&quot;https:\/\/www.theguardian.com\/business\/2025\/jun\/05\/dr-martens-prices-vietnam-laos-us-tariffs\\&quot;&gt;The boot brand was originally created in 1945&lt;\/a&gt; by a young German army doctor, &lt;strong&gt;Klaus M\u00e4rtens&lt;\/strong&gt;, who designed an air-cushioned sole to help his recovery from a broken foot.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;12882401-1f87-4ed2-a096-3aa89c3c44cf&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;They were introduced to the UK in 1960, with their sturdy design gaining popularity among postal delivery workers and factory staff before being embraced by skinheads and punks.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;06cedb95-1512-46de-90e3-bb3a29072a3a&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:false,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769505899000,&quot;blockCreatedOnDisplay&quot;:&quot;10.24\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769507452000,&quot;blockLastUpdatedDisplay&quot;:&quot;10.50\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769506849000,&quot;blockFirstPublishedDisplay&quot;:&quot;10.40\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;10.40&quot;,&quot;title&quot;:&quot;Dr Martens shares tumble after sales drop&quot;,&quot;contributors&quot;:[],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;},{&quot;id&quot;:&quot;697880798f08ace7a0c03a2c&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;India and the EU have finalised a landmark free trade agreement, which European Commission president &lt;strong&gt;Ursula von der Leyen&lt;\/strong&gt; hailed as the \u201cmother of all deals\u201d.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;a1bd785c-47b4-458f-b9b5-7a1ac47da0d3&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The agreement comes after almost two decades of on-off negotiations between &lt;a href=\\&quot;https:\/\/viewer.gutools.co.uk\/world\/india\\&quot;&gt;India&lt;\/a&gt; and the EU, which vastly accelerated in the past six months and were finally concluded late on Monday night.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;6fe258fa-198c-4f25-8695-cf266fbfa3ea&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The deal is expected to open up India\u2019s vast and traditionally tightly guarded market to the 27 nations in the bloc, with a focus on manufacturing and the services sector. 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We have created a free trade zone of two billion people, with both sides set to benefit.\u201d&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;19317d4e-46fd-4965-9bf5-3b9fbd45769c&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Von der Leyen had previously stated that she expected exports to India to double after the deal, with the EU granted unprecedented access to the previously heavily protected Indian market.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;8a033cee-bbf4-47a3-ad05-19a7725dff9c&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;India, the world\u2019s largest country with a population of 1.4 billion, is also one of the world\u2019s fastest-growing economies and is on track to become its fourth-largest economy this year, according to International Monetary Fund.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;afbf0299-5875-46a2-93f2-c0cbd8c1457e&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:false,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769504889000,&quot;blockCreatedOnDisplay&quot;:&quot;10.08\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769505116000,&quot;blockLastUpdatedDisplay&quot;:&quot;10.11\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769505116000,&quot;blockFirstPublishedDisplay&quot;:&quot;10.11\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;10.11&quot;,&quot;title&quot;:&quot;\u2018The mother of all trade deals\u2019: EU and India sign landmark trade agreement&quot;,&quot;contributors&quot;:[{&quot;name&quot;:&quot;Hannah Ellis-Petersen&quot;,&quot;imageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/uploads\/2023\/05\/17\/Hannah_Ellis-Petersen.jpg?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=5f5ca201fce794930238eb0fa19fadf8&quot;,&quot;largeImageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/uploads\/2023\/05\/17\/Hannah_Ellis-Petersen.png?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=8edbcd82d65ae850833c038d72544cc1&quot;}],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;},{&quot;id&quot;:&quot;697875808f0821ffdc6c6a07&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;In Europe as a whole, taking in the EU, European free trade area and the UK, car sales grew by 7.6% to 1.2m vehicles in December, and by 2.4% to 13.3m cars in 2025, according to those industry figures from the ACEA.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;7b0a5a97-43da-40ff-982d-37f5ea73ff04&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Jaguar Land Rover&lt;\/strong&gt;, which is still recovering from a crippling cyber attack in September that halted production for weeks, posted a 25.3% fall in sales in December sales to 4,332. 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The rest of its sales came from Land Rover.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;92924d2e-8879-49d5-842e-87bfb4a3373f&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;At Solihull, &lt;a href=\\&quot;https:\/\/jec.org.uk\/2025\/last-fpace\/\\&quot;&gt;the last Jaguar F-PACE rolled off &lt;\/a&gt;the line on 19 December \u2013 the last Jaguar with an internal combustion engine ever built, as the brand steps into the electric era.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;a7ed67bc-803d-4a33-a424-a5f133a4e6a9&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The factory shutdown following the cyber attack &lt;a href=\\&quot;https:\/\/www.theguardian.com\/business\/2025\/nov\/14\/jaguar-land-rover-loss-cyber-attack\\&quot;&gt;pushed the company from profit into a quarterly loss&lt;\/a&gt; of almost \u00a3500m in the three months to 30 September. The hack has been estimated to have cost the wider UK economy up to \u00a31.9bn, and was blamed by the government for dragging down the quarterly GDP growth figures.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;e1cd26b9-f153-460b-8afc-55698ee22595&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:false,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769502080000,&quot;blockCreatedOnDisplay&quot;:&quot;09.21\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769503792000,&quot;blockLastUpdatedDisplay&quot;:&quot;09.49\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769502434000,&quot;blockFirstPublishedDisplay&quot;:&quot;09.27\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;09.27&quot;,&quot;title&quot;:&quot;JLR sales fall 25% in December as it makes just one Jaguar&quot;,&quot;contributors&quot;:[],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;},{&quot;id&quot;:&quot;697861ba8f081e93839c8d9c&quot;,&quot;elements&quot;:[{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.&lt;\/strong&gt;&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;2c92a64e-d2cb-4e4d-9b84-83dd12e10797&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;Sales of new cars in the European Union rose by 1.8% last year, with electric cars making up a bigger share of the market, while &lt;strong&gt;Tesla&lt;\/strong&gt; sales plummeted as it lost ground to China\u2019s &lt;strong&gt;BYD&lt;\/strong&gt;.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;99b68f41-df5d-4b87-bb43-f86996792458&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;However, overall car volumes remain well below pre-pandemic levels, &lt;a href=\\&quot;https:\/\/www.acea.auto\/pc-registrations\/new-car-registrations-1-8-in-2025-battery-electric-17-4-market-share\/\\&quot;&gt;the European Automobile Manufacturers\u2019 Association (ACEA) cautione&lt;\/a&gt;d. EU car sales rose by 5.8% to 963,319 vehicles in December and by 1.8% to 10.8m in 2025 versus 2024.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;ca402b37-05b7-4cce-bb7d-50a5fc518584&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;More people are switching to electric cars: Nearly 1.9m battery-electric cars were registered which made up 17.4% of sales, up from 13.6% a year earlier. Hybrid electric cars remain the most popular choice among European consumers, accounting for 34.5% of the market. 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car sales.&quot;,&quot;caption&quot;:&quot;EU car sales.&quot;,&quot;credit&quot;:&quot;Photograph: ACEA&quot;}},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;By the end of 2025, petrol car sales were down by 18.7%. France experienced the steepest drop, with registrations plummeting by 32%, followed by Germany (-21.6%), Italy (-18.2%), and Spain (-16%).&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;f1d5895f-14b3-4a37-9c4c-8a6e2f95798b&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;In December, battery-electric car sales in the EU surged by 51% while plug-in hybrid electric cars jumped 36.7% and hybrid electric vehicles recorded a 5.8% increase.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;8f66157a-c2d3-48d1-ae5f-396fddd01554&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;a href=\\&quot;https:\/\/www.theguardian.com\/technology\/tesla\\&quot;&gt;Tesla&lt;\/a&gt; sales fell by 31.9% in December to 21,485, taking its market share to 2.2% from 3.5%. Over the year as a whole, sales were down 37.9% to 150,504 vehicles.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;43c26c9b-8360-41ef-a408-22b48442f471&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The US company run by &lt;strong&gt;Elon Musk&lt;\/strong&gt; lost share to China\u2019s &lt;strong&gt;BYD&lt;\/strong&gt;, whose sales nearly tripled in December to 18,008, more than doubling its market share to 1.9% from 0.7%. In 2025, BYD more than tripled sales to 128,827.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;a60573f9-72c3-438c-a0c9-0c014b90bfc1&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;a href=\\&quot;https:\/\/www.theguardian.com\/business\/2026\/jan\/02\/china-byd-tesla-worlds-biggest-electric-car-seller-elon-musk-donald-trump-ev\\&quot;&gt;Shenzhen-based BYD overtook Tesla as the world\u2019s largest electric carmaker in 2025&lt;\/a&gt;, after &lt;strong&gt;Donald Trump&lt;\/strong&gt; withdrew electric vehicle subsidies and emissions regulations that incentivised electric car production. Tesla also faced a backlash from some consumers after &lt;a href=\\&quot;https:\/\/www.theguardian.com\/environment\/2025\/jul\/30\/elon-musk-tesla-liberals-electric-vehicles\\&quot;&gt;Musk\u2019s embrace of far-right politics&lt;\/a&gt; at the end of 2024.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;e7a9ad12-448f-4d7e-a319-cf44d6aa2ec4&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;In financial markets,&lt;strong&gt; gold continues its historic rally&lt;\/strong&gt;, rising 1.5% this morning to $5,091.64 an ounce (spot gold).&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;497d45e1-5899-4a19-9229-0395b090e462&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;There may be exciting news for pubs later today: &lt;strong&gt;the UK chancellor, Rachel Reeves, is expected to unveil a support package worth around \u00a3100m a year for the struggling sector&lt;\/strong&gt;, after being warned of widespread closures and job losses following controversial changes to business rates in the budget.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;fb3c623b-cc71-4abd-b196-8fdba47d642b&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;The chancellor is expected to announce the relief package on Tuesday, after officials admitted that they had not foreseen the total financial impact of the rates shake-up in England and Wales announced in the budget in late November.&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;c35d339b-39df-4c7e-96f3-b0f5dff2e160&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Pubs to get \u00a3100m a year support after business rates outcry&quot;,&quot;elementId&quot;:&quot;c196f73f-4129-44b2-a4b4-a686efb8948b&quot;,&quot;role&quot;:&quot;thumbnail&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/business\/2026\/jan\/27\/pubs-support-package-business-rates-rachel-reeves-england-wales&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;p&gt;&lt;strong&gt;The Agenda&lt;\/strong&gt;&lt;\/p&gt;&quot;,&quot;elementId&quot;:&quot;62976371-7b7f-46cf-8112-e4555a3767bf&quot;},{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.TextBlockElement&quot;,&quot;html&quot;:&quot;&lt;ul&gt;\\n &lt;li&gt;\\n  &lt;p&gt;11.30am GMT: Rachel Reeves in Treasury questions&lt;\/p&gt;&lt;\/li&gt;\\n &lt;li&gt;\\n  &lt;p&gt;1.15pm GMT US ADP Employment change&lt;\/p&gt;&lt;\/li&gt;\\n &lt;li&gt;\\n  &lt;p&gt;3pm GMMT: US Conference Board Consumer confidence for January&lt;\/p&gt;&lt;\/li&gt;\\n &lt;li&gt;\\n  &lt;p&gt;5pm GMT: European Central Bank president Christine Lagarde speech&lt;\/p&gt;&lt;\/li&gt;\\n&lt;\/ul&gt;&quot;,&quot;elementId&quot;:&quot;2e950ef6-7f4f-4dd4-93d2-63e2150b405e&quot;}],&quot;attributes&quot;:{&quot;pinned&quot;:false,&quot;keyEvent&quot;:true,&quot;summary&quot;:false},&quot;blockCreatedOn&quot;:1769501278000,&quot;blockCreatedOnDisplay&quot;:&quot;09.07\u00a0CET&quot;,&quot;blockLastUpdated&quot;:1769513881000,&quot;blockLastUpdatedDisplay&quot;:&quot;12.38\u00a0CET&quot;,&quot;blockFirstPublished&quot;:1769501278000,&quot;blockFirstPublishedDisplay&quot;:&quot;09.07\u00a0CET&quot;,&quot;blockFirstPublishedDisplayNoTimezone&quot;:&quot;09.07&quot;,&quot;title&quot;:&quot;Introduction: EU car sales grow 1.8% in 2025 with electric cars surging while Tesla loses market share&quot;,&quot;contributors&quot;:[],&quot;primaryDateLine&quot;:&quot;Tue 27 Jan 2026 15.30 CET&quot;,&quot;secondaryDateLine&quot;:&quot;First published on Tue 27 Jan 2026 09.07 CET&quot;}],&quot;filterKeyEvents&quot;:false,&quot;id&quot;:&quot;key-events-carousel-mobile&quot;,&quot;renderingTarget&quot;:&quot;Web&quot;,&quot;serverTime&quot;:1769524333931}\"><span id=\"key-events-carousel-mobile\"\/><span class=\"dcr-90inr0\"><\/p>\n<p>Key events<\/p>\n<p><\/span><\/gu-island><gu-island name=\"FilterKeyEventsToggle\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;filterKeyEvents&quot;:false,&quot;id&quot;:&quot;filter-toggle-mobile&quot;}\"><span id=\"filter-toggle-mobile\"\/><\/p>\n<div class=\"dcr-alru3r\"><label id=\"filter-toggle-mobile-switch_description\" data-component=\"filter-key-events\" data-link-name=\"filter-key-events-on\" class=\"dcr-rrspei\"><button id=\"filter-toggle-mobile-switch\" role=\"switch\" aria-checked=\"false\" aria-labelledby=\"filter-toggle-mobile-switch_description\" class=\"dcr-dh5oqp\"\/>Show key events only<\/p>\n<p><span>Please turn on JavaScript to use this feature<\/span><\/p>\n<p><\/label><\/div>\n<p><\/gu-island><\/span><\/p>\n<article id=\"block-6978c4398f087d9994def695\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\"\/>\n<p class=\"dcr-130mj7b\">We are still waiting for the exchequer secretary\u2019s statement on a support package for pubs, which have been hit hard by changes to business rates.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978c4398f087d9994def695&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978c4398f087d9994def695&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978c4398f087d9994def695#block-6978c4398f087d9994def695\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container ad-slot-desktop dcr-jko40v\"\/>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-6978ae5d8f08e3f5cdc225f4\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\"\/>\n<p class=\"dcr-130mj7b\"><strong>The chancellor has just responded to questions about business rates for pubs.<\/strong><\/p>\n<p class=\"dcr-130mj7b\">The exchequer secretary will be setting out more detail of support for pubs later today, around 1.30pm, <strong>Rachel Reeves<\/strong> said.<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>We are determined to support pubs, often the lifeblood of so many communities, but also to support all of our retail, hospitality and leisure sector.<\/p>\n<p>We are putting more money in people\u2019s pockets by cutting energy bills, by cutting train fares and ensuring we\u2019re getting people back to work. So they\u2019ve got more money to spend on the things they love and not just the essentials.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">She added:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>I don\u2019t think anyone in this house seriously believes that temporary support during the pandemic should continue infinitely. It would not be the right thing, and it would not be affordable for other taxpayers to do that. That\u2019s why we are tapering gradually, with a \u00a34.3bn support package in the budget and some more targeted support for pubs published later today.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">She stressed that 7,000 pubs closed under the previous Conservative government, saying: \u201cWe have permanently lowered the tax rate that retail, hospitality and leisure pay.\u201d<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978ae5d8f08e3f5cdc225f4&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978ae5d8f08e3f5cdc225f4&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978ae5d8f08e3f5cdc225f4#block-6978ae5d8f08e3f5cdc225f4\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T12:32:23.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 13:32 Central European Standard Time\">13.32 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<article id=\"block-6978a85b8f087d9994def4c4\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\"\/>\n<p class=\"dcr-130mj7b\">Q: Another family run business in Chelmsford that\u2019s been going for 25 years will see their monthly rates more than double from April. They\u2019ve said they will simply have to close their doors if this goes ahead, resulting in 40 people losing their jobs.<\/p>\n<p class=\"dcr-130mj7b\"><strong>Tomlinson <\/strong>replied:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>The key thing to note here is that there is a significant difference between the change in the rateable value and the change in the business rates this year. We have stepped in to cap the increases for bills at \u00a3800 for those coming into the system for the first time, or for most high street businesses, the increase will be 15%. The very largest will see increases of 30%.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">He also said:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>I do understand that there are businesses all across the economy who will have seen increases in their rateable values since the pandemic. And that\u2019s precisely why we stepped in with the support package.<\/p>\n<p>The really small bookshops up and down the country, many, many of them will not be paying any business rates at all because they will be in receipt of small business rates relief. Of course, there will be some in some parts of the country that will have seen either the rates bill values increase or because of the government\u2019s decision to slowly wind down the temporary pandemic support that will see an increase in their bills.<\/p>\n<p>But we\u2019re capping those increases this year and in subsequent years in order that the transition can be manageable for those businesses because of course, we want to support bookshops on our high streets. They are incredibly important, along with all the other high street retailers.<\/p>\n<\/blockquote>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978a85b8f087d9994def4c4&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978a85b8f087d9994def4c4&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978a85b8f087d9994def4c4#block-6978a85b8f087d9994def4c4\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-6978a6438f087d9994def4a6\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">Treasury poised to unveil business rates support package \u2018with focus on pubs&#8217;<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\"><strong>Treasury questions have moved on to business rates.<\/strong><\/p>\n<p class=\"dcr-130mj7b\"><strong>Dan Tomlinson<\/strong>, exchequer secretary to the Treasury, said he will make a statement this afternoon on a \u201cpackage of support in relation to business rates, with a particular focus on pubs\u201d. This will come around 1.30pm GMT, after a statement from Matthew Pennycook, the housing minister, on leasehold reform.<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>As previously announced, we\u2019re introducing a support package with \u00a34.3bn to support ratepayers seeing increases in their business rates, bills.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">In the budget, <strong>Rachel Reeves<\/strong>, the chancellor, announced a \u00a34.3bn support package that included giving relief to businesses, intended to offset the end of a Covid support scheme that had reduced bills by 40%.<\/p>\n<p class=\"dcr-130mj7b\">However, this has not proved to be enough to offset a significant increase in property tax bills caused by the first revaluations of properties since the pandemic from April.<\/p>\n<p class=\"dcr-130mj7b\">Q: Joanna Watson runs hotels in Sidmouth, the Elizabeth Hotel and the Kingswood Hotel, and she\u2019s essentially facing a 20% rise in her business rate costs. Joanna\u2019s bills don\u2019t reflect what she actually earns. They stay high all year round, even though there are months like in winter, when income completely collapses\u2026 Will he [Tomlinson] also consider the plight of hotels such as those in Sidmouth and say, we have considered the challenges that hospitality businesses and businesses on our high streets would face?<\/p>\n<p class=\"dcr-130mj7b\"><strong>Tomlinson <\/strong>said:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>That\u2019s why we put in place the \u00a34.3bn of support at the budget. But we do recognise that there are concerns as to how hotels are valued for business rates. And that will be one of the items that I\u2019ll be talking about in the statement later today.<\/p>\n<\/blockquote>\n<figure id=\"d9e0d96e-2094-4e56-8859-e8f73a134750\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\"dcr-173mewl\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:8,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Pubs to get \u00a3100m a year support after business rates outcry&quot;,&quot;elementId&quot;:&quot;d9e0d96e-2094-4e56-8859-e8f73a134750&quot;,&quot;role&quot;:&quot;inline&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/business\/2026\/jan\/27\/pubs-support-package-business-rates-rachel-reeves-england-wales&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;isInStarRatingVariant&quot;:false}\"\/><\/figure>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978a6438f087d9994def4a6&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978a6438f087d9994def4a6&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978a6438f087d9994def4a6#block-6978a6438f087d9994def4a6\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T12:51:52.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 13:51 Central European Standard Time\">13.51 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container ad-slot-desktop dcr-jko40v\"\/>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-6978a3bd8f08e98f5feb2c99\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\"\/>\n<p class=\"dcr-130mj7b\"><strong>Rachel Reeves<\/strong>, the UK chancellor, is speaking during Treasury questions in the House of Commons. She has been asked about the <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bbc.co.uk\/news\/articles\/ckg9z2r8d3ko\" data-link-name=\"in body link\">energy profits levy on the oil and gas sector<\/a>, affecting Scotland, which was introduced during the energy price spike after Russia\u2019s invasion of Ukraine.<\/p>\n<p class=\"dcr-130mj7b\">Q: Robert Gordon\u2019s [University] have estimated that 400 jobs will be lost every week, given the importance of that sector, not just to Aberdeen or to Edinburgh West, but to the Scottish and the UK economy, will the chancellor think about providing the regional development support that the Scottish government is failing to do?<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>We\u2019re supporting the transition, to new jobs and new industries, right across Scotland, including in Aberdeenshire.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">\u201cWe are committed to driving growth everywhere,\u201d she said earlier.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978a3bd8f08e98f5feb2c99&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978a3bd8f08e98f5feb2c99&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978a3bd8f08e98f5feb2c99#block-6978a3bd8f08e98f5feb2c99\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T12:14:03.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 13:14 Central European Standard Time\">13.14 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<article id=\"block-69789ae98f08891009b4ae68\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">M&amp;G to take \u00a3230m hit from ground rent cap<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\">The UK fund manager <strong>M&amp;G<\/strong> expects to take a one-off hit of \u00a3230m from the government\u2019s proposed cap on ground rents.<\/p>\n<p class=\"dcr-130mj7b\">Ground rents are to be capped at \u00a3250 a year for leaseholders in England and Wales, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/keir-starmer\" data-link-name=\"in body link\">Keir Starmer<\/a> has announced, as his government unveiled proposals to ban leaseholds for new flats. Millions of leaseholders stand to benefit from the overhaul of the leasehold system. Ground rents are set to be capped for a transition period of 40 years, and would then be reduced to zero.<\/p>\n<figure id=\"be443593-4a3a-4a88-b01a-34383693c662\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\"dcr-173mewl\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:2,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Leaseholders in England and Wales to have ground rent capped at \u00a3250 a year&quot;,&quot;elementId&quot;:&quot;be443593-4a3a-4a88-b01a-34383693c662&quot;,&quot;role&quot;:&quot;inline&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/money\/2026\/jan\/27\/leaseholders-england-wales-ground-rent-cap-250-a-year&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;isInStarRatingVariant&quot;:false}\"\/><\/figure>\n<p class=\"dcr-130mj7b\">Making the ground rent announcement in a video posted on TikTok, Starmer said:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>Good news for homeowners, we\u2019re capping ground rent at \u00a3250. That means if you are a leaseholder, and your ground rent is more than \u00a3250, you\u2019ll be paying less.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">M&amp;G, however, argues that the changes are \u201cdisproportionate\u201d and will \u201cnegatively impact savers and companies that have chosen to invest in UK assets\u201d.<\/p>\n<p class=\"dcr-130mj7b\">The firm, which was spun off from the insurance and pensions group <strong>Prudential<\/strong> in 2019, has \u00a3722m of ground rent assets in its Prudential Assurance Company shareholder fund.<\/p>\n<p class=\"dcr-130mj7b\">M&amp;G also said it is expecting a \u00a315m hit to its annual adjusted operating profit from 2028, although it stressed that it is \u201cwell positioned to absorb and manage the negative impacts generated by this proposed legislation\u201d.<\/p>\n<p class=\"dcr-130mj7b\">Subject to parliamentary timings, the ground rent cap could come into force in late 2028.<\/p>\n<p class=\"dcr-130mj7b\">The <strong>British Property Federation<\/strong> has warned that the government\u2019s plan to cap ground rents could discourage investment into the UK, and argues that landlords should get compensation.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-69789ae98f08891009b4ae68&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-69789ae98f08891009b4ae68&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-69789ae98f08891009b4ae68#block-69789ae98f08891009b4ae68\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T11:42:10.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 12:42 Central European Standard Time\">12.42 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-697896ff8f08891009b4ae15\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">William Hill owner Evoke to shut some betting shops<\/h2>\n<div class=\"dcr-dzkvsd\">\n<div class=\"dcr-uae6pk\"><\/div>\n<p><span class=\"dcr-sa35sa\">Rob Davies<\/span><\/div>\n<\/header>\n<p class=\"dcr-130mj7b\"><strong>Evoke<\/strong>, the heavily-indebted gambling company, says it plans to shut some of its network of 1,400 <strong>William Hill<\/strong> betting shops, blaming Rachel Reeves\u2019 decision to increase taxes on the betting and gaming sector at November\u2019s budget.<\/p>\n<p class=\"dcr-130mj7b\">The London-listed company paid \u00a32.2bn for William Hill\u2019s non-US assets in 2021 but has since watched its own stock market value slide to less than \u00a3120m, amid a series of <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/society\/2023\/jan\/30\/888s-middle-east-vip-gambling-accounts-suspended\" data-link-name=\"in body link\">regulatory compliance problems<\/a> and a burgeoning debt pile.<\/p>\n<p class=\"dcr-130mj7b\">At the end of 2025, Evoke <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/society\/2025\/dec\/10\/william-hill-evoke-sale-budget-tax-rises-bookmakers-888-online-casino#:~:text=The%20decision%20comes%20only%20four,bricks%2Dand%2Dmortar%20betting.&amp;text=Shareholders%20have%20since%20watched%20the,%C2%A3100m%20as%20of%20Wednesday.\" data-link-name=\"in body link\">said it was considering a sale or breakup of the group<\/a>, after warning of a \u00a3135m hit from tax increases announced in last month\u2019s budget. Rises in gaming duty were targeted at online gambling, hitting Evoke\u2019s 888 online casino brand.<\/p>\n<p class=\"dcr-130mj7b\">On Tuesday, the company blamed tax rises again as it announced plans to sell off some of its betting shops, without saying how many of the roughly 1400-strong estate would go.<\/p>\n<figure id=\"cc1946cf-5853-4380-95be-70b88d234179\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.ImageBlockElement\" class=\"dcr-173mewl\"><figcaption data-spacefinder-role=\"inline\" class=\"dcr-fd61eq\"><span class=\"dcr-1inf02i\"><svg width=\"18\" height=\"13\" viewbox=\"0 0 18 13\"><path d=\"M18 3.5v8l-1.5 1.5h-15l-1.5-1.5v-8l1.5-1.5h3.5l2-2h4l2 2h3.5l1.5 1.5zm-9 7.5c1.9 0 3.5-1.6 3.5-3.5s-1.6-3.5-3.5-3.5-3.5 1.6-3.5 3.5 1.6 3.5 3.5 3.5z\"\/><\/svg><\/span><span class=\"dcr-1qvd3m6\">A William Hill betting shop in Manchester.<\/span> Photograph: Phil Noble\/Reuters<\/figcaption><\/figure>\n<p class=\"dcr-130mj7b\">Its chief executive, <strong>Per Widerstr\u00f6m<\/strong>, said Reeves\u2019 tax grab on the sector \u201cwill negatively impact the industry\u2019s economic contribution, customer protection, and will ultimately serve to support further growth in the illegal black market.\u201d<\/p>\n<p class=\"dcr-130mj7b\">Analysts at the stockbroker AJ Bell said William Hill had looked like a big prize in 2021 but had become \u201ca thorn in Evoke\u2019s side\u201d.<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>It is expensive and cumbersome to have a big physical store estate yet finding a buyer for William Hill won\u2019t be straightforward given the tax pressures.<\/p>\n<p>Evoke may struggle to find someone to pay anything close to fair value, suggesting any asset sale could involve other parts of the group.<\/p>\n<\/blockquote>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-697896ff8f08891009b4ae15&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-697896ff8f08891009b4ae15&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-697896ff8f08891009b4ae15#block-697896ff8f08891009b4ae15\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container ad-slot-desktop dcr-jko40v\"\/>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-697890a28f0899c9e86a6305\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">Gold, silver continue to climb; gold draws \u20ac2bn from European investors in 2026<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\">As gold continues to climb, rising 1.6% to $5,094 an ounce this morning, just shy of yesterday\u2019s all-time high, data shows the safe-haven asset has drawn \u20ac2bn from European investors so far this year.<\/p>\n<p class=\"dcr-130mj7b\">European-domiciled gold exchange-traded funds have attracted more than \u20ac2bn since the start of 2026, according to Morningstar data, as the precious metal continues its rally. Gold prices rose by 64% in 2025, its best year since 1979.<\/p>\n<p class=\"dcr-130mj7b\"><strong>Kenneth Lamont<\/strong>, principal, manager research at Morningstar, said:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>Gold ETFs have attracted more than \u20ac2bn in net inflows since the beginning of the year, helping to propel prices to fresh record highs.<\/p>\n<p>While strong price momentum is clearly drawing in short-term speculators, the rally also reflects a deeper sense of investor unease. Rising geopolitical tensions and escalating trade frictions have reinforced gold\u2019s role as an \u201cArmageddon\u201d asset.<\/p>\n<p>Recent flashpoints, including developments in Venezuela and uncertainty around potential US involvement in Iran and Greenland, have encouraged investors to reassess the concentration of risk within the global security and financial systems.<\/p>\n<p>This reassessment has prompted central banks \u2013 particularly in emerging markets \u2013 to diversify away from US dollar-denominated reserves, a process that has increasingly involved the accumulation of gold.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\"><strong>Silver<\/strong> gained more than 8% to $112.3 an ounce, and is up 57% in January alone.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-697890a28f0899c9e86a6305&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-697890a28f0899c9e86a6305&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-697890a28f0899c9e86a6305#block-697890a28f0899c9e86a6305\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T10:28:44.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 11:28 Central European Standard Time\">11.28 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<article id=\"block-69788df48f0899c9e86a62ec\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">Puma shares surge after China&#8217;s No 1 sportswear brand Anta buys 29% stake<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\"><strong>Puma<\/strong> shares surged, after a 29% stake in the German sportswear maker was sold to China\u2019s biggest sportswear brand <strong>Anta Sports Products<\/strong>.<\/p>\n<p class=\"dcr-130mj7b\">Anta bought the holding from the <strong>Pinault<\/strong> family for \u20ac1.5bn, making it the biggest shareholder in Puma.<\/p>\n<p class=\"dcr-130mj7b\">Puma shares jumped 17% in early trading and are now trading 8.7% higher, but are still near their lowest levels in a decade. The \u20ac3.2bn company has been struggling after losing ground to US rival <strong>Nike<\/strong>, Germany\u2019s <strong>Adidas<\/strong>, and newer brands like the Swiss <strong>On Running<\/strong>.<\/p>\n<figure id=\"709af403-358d-446a-ae30-410359c889e3\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.ImageBlockElement\" class=\"dcr-173mewl\"><figcaption data-spacefinder-role=\"inline\" class=\"dcr-fd61eq\"><span class=\"dcr-1inf02i\"><svg width=\"18\" height=\"13\" viewbox=\"0 0 18 13\"><path d=\"M18 3.5v8l-1.5 1.5h-15l-1.5-1.5v-8l1.5-1.5h3.5l2-2h4l2 2h3.5l1.5 1.5zm-9 7.5c1.9 0 3.5-1.6 3.5-3.5s-1.6-3.5-3.5-3.5-3.5 1.6-3.5 3.5 1.6 3.5 3.5 3.5z\"\/><\/svg><\/span><span class=\"dcr-1qvd3m6\">A Puma Speedcat OG sneaker at Puma Mostro House in Paris.<br \/><\/span> Photograph: Abdul Saboor\/Reuters<\/figcaption><\/figure>\n<p class=\"dcr-130mj7b\">Fila owner and Salomon backer Anta said it would use its expertise to help struggling Puma increase its sales in the lucrative Chinese market. The deal also helps Anta in its ambition to become a more global business.<\/p>\n<p class=\"dcr-130mj7b\">The $27.8bn Hong Kong-listed sportswear company will pay \u20ac35 a share in cash to the Pinault family investment vehicle <strong>Artemis<\/strong>, which also controls Paris-listed luxury conglomerate <strong>Kering<\/strong>. The deal will help Artemis reduce its high debt burden.<\/p>\n<p class=\"dcr-130mj7b\">Reuters was first to report the deal earlier this month.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-69788df48f0899c9e86a62ec&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-69788df48f0899c9e86a62ec&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-69788df48f0899c9e86a62ec#block-69788df48f0899c9e86a62ec\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container ad-slot-desktop dcr-jko40v\"\/>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-69788a928f084db219d7ecc2\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\"\/>\n<p class=\"dcr-130mj7b\"><strong>European shares have risen modestly this morning, with banking stocks hitting an 18-month high.<\/strong><\/p>\n<p class=\"dcr-130mj7b\">Europe\u2019s Stoxx 600 is up 0.2% with banks leading the way. A basket of bank stocks rose 1%.<\/p>\n<p class=\"dcr-130mj7b\">In London, the FTSE 100 index has risen nearly 0.4%, or 36 points, to 10,184.<\/p>\n<p class=\"dcr-130mj7b\">Germany\u2019s Dax slipped 0.1%, France\u2019s CAC is flat, Italy\u2019s FTSE MiB gained 0.2% and Spain\u2019s Ibex edged 0.1% higher.<\/p>\n<p class=\"dcr-130mj7b\">In Asia, there were chunkier gains with Japan\u2019s Nikkei up 0.85%, Hong Kong\u2019s Hang Seng rising 1.35% and South Korea\u2019s Kospi storming 3.4% ahead, reversing earlier losses \u2013 despite a new US tariff threat.<\/p>\n<p class=\"dcr-130mj7b\">Accusing South Korea\u2019s legislature of \u201cnot living up\u201d to its trade deal with Washington, <strong>Donald Trump<\/strong> said last night he would increase tariffs on imports from Asia\u2019s fourth-largest economy into the US to 25%.<\/p>\n<p class=\"dcr-130mj7b\"><strong>Mohit Kumar<\/strong>, chief Europe economist at Jefferies, told Reuters:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>The Greenland story is out of the way, that cleaned up positioning and now the market can focus back on fundamentals.<\/p>\n<p>When we think about risky assets [like stocks] even Japan is a positive because that adds to fiscal expansion.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\">Trump\u2019s threat to impose tariffs on several major European countries over Greenland jolted markets last week, but they bounced back on Thursday on relief that this had been avoided, dubbed the TACO trade (Trump Always Chickens Out).<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-69788a928f084db219d7ecc2&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-69788a928f084db219d7ecc2&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-69788a928f084db219d7ecc2#block-69788a928f084db219d7ecc2\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T10:33:05.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 11:33 Central European Standard Time\">11.33 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<article id=\"block-6978846b8f084db219d7ec7d\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">Dr Martens shares tumble after sales drop<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\"><strong>Dr Martens<\/strong> has reported a drop in quarterly sales as it scales back discounts and clearance activity, triggering a 12% fall in its share price.<\/p>\n<p class=\"dcr-130mj7b\">The British bootmaker\u2019s shares tumbled after it warned that revenues will be broadly flat this year as a result, making it the biggest faller on the FTSE 100 index.<\/p>\n<p class=\"dcr-130mj7b\">The brand is in the middle of a major turnaround as it seeks to return to sustainable profit. It said it has made \u201cgood progress\u201d in its strategy which should lead to improved profits this year.<\/p>\n<p class=\"dcr-130mj7b\">However, the footwear maker, known for its black boots with distinctive yellow stitching, posted a 3.1% drop in revenues to \u00a3253m in the 13 weeks to 28 December, compared with a year earlier. The decline was driven by a 7% fall in sales directly to consumers, as it did less discounting on its own platform over the Christmas period.<\/p>\n<figure id=\"a0138ca2-ab42-4f72-85de-e38d62c76375\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.ImageBlockElement\" class=\"dcr-173mewl\"><figcaption data-spacefinder-role=\"inline\" class=\"dcr-fd61eq\"><span class=\"dcr-1inf02i\"><svg width=\"18\" height=\"13\" viewbox=\"0 0 18 13\"><path d=\"M18 3.5v8l-1.5 1.5h-15l-1.5-1.5v-8l1.5-1.5h3.5l2-2h4l2 2h3.5l1.5 1.5zm-9 7.5c1.9 0 3.5-1.6 3.5-3.5s-1.6-3.5-3.5-3.5-3.5 1.6-3.5 3.5 1.6 3.5 3.5 3.5z\"\/><\/svg><\/span><span class=\"dcr-1qvd3m6\">Dr. Martens Women\u2019s Black Boots via Depop.<\/span> Photograph: PR Image<\/figcaption><\/figure>\n<p class=\"dcr-130mj7b\">Meanwhile, wholesale revenues jumped 9.3% in the quarter, with a shift towards wholesale in the UK and Germany.<\/p>\n<p class=\"dcr-130mj7b\">The fashion brand told shareholders that it expects revenues on a constant current basis to be \u201cbroadly flat\u201d this year as it prioritises profitability over revenue growth. It said it is \u201ccomfortable\u201d with meeting its profit targets for the current financial year, pointing to \u201csignificant\u201d pre-tax profit growth.<\/p>\n<p class=\"dcr-130mj7b\">Dr Martens also expects a \u00a315m impact from currency rates because of volatility, more than the previously flagged \u00a310m.<\/p>\n<p class=\"dcr-130mj7b\"><strong>Ije Nwokorie<\/strong>, the chief executive, said:<\/p>\n<blockquote data-spacefinder-role=\"inline\" class=\"dcr-154zxly\">\n<p><svg viewbox=\"0 0 22 14\" style=\"fill:var(--block-quote-fill)\" class=\"dcr-scql1j\"><path d=\"M5.255 0h4.75c-.572 4.53-1.077 8.972-1.297 13.941H0C.792 9.104 2.44 4.53 5.255 0Zm11.061 0H21c-.506 4.53-1.077 8.972-1.297 13.941h-8.686c.902-4.837 2.485-9.411 5.3-13.941Z\"\/><\/svg>This is a year of pivot, as we make the necessary changes to our business to set us up for future sustainable growth. I remain laser focused on executing our new strategy and we will deliver all four of our strategic objectives for full-year 2026.<\/p>\n<p>We have continued to improve the quality of our revenue through a disciplined approach to promotions and this represents a headwind to overall revenue, particularly in ecommerce.<\/p>\n<p>The EMEA [Europe, Middle East and Africa] market continues to be challenging, with our direct-to-consumer revenue performance impacted by both the market and our more disciplined promotional stance. We delivered a good wholesale performance, with growth broad-based across all three regions.<\/p>\n<\/blockquote>\n<p class=\"dcr-130mj7b\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2025\/jun\/05\/dr-martens-prices-vietnam-laos-us-tariffs\" data-link-name=\"in body link\">The boot brand was originally created in 1945<\/a> by a young German army doctor, <strong>Klaus M\u00e4rtens<\/strong>, who designed an air-cushioned sole to help his recovery from a broken foot.<\/p>\n<p class=\"dcr-130mj7b\">They were introduced to the UK in 1960, with their sturdy design gaining popularity among postal delivery workers and factory staff before being embraced by skinheads and punks.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-6978846b8f084db219d7ec7d&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-6978846b8f084db219d7ec7d&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-6978846b8f084db219d7ec7d#block-6978846b8f084db219d7ec7d\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T09:50:52.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 10:50 Central European Standard Time\">10.50 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container ad-slot-desktop dcr-jko40v\"\/>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-697880798f08ace7a0c03a2c\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">\u2018The mother of all trade deals\u2019: EU and India sign landmark trade agreement<\/h2>\n<div class=\"dcr-dzkvsd\">\n<div class=\"dcr-uae6pk\"><img decoding=\"async\" src=\"https:\/\/i.guim.co.uk\/img\/uploads\/2023\/05\/17\/Hannah_Ellis-Petersen.png?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=8edbcd82d65ae850833c038d72544cc1\" alt=\"Hannah Ellis-Petersen\" class=\"dcr-lysqes\"\/><\/div>\n<p><span class=\"dcr-sa35sa\">Hannah Ellis-Petersen<\/span><\/div>\n<\/header>\n<p class=\"dcr-130mj7b\">India and the EU have finalised a landmark free trade agreement, which European Commission president <strong>Ursula von der Leyen<\/strong> hailed as the \u201cmother of all deals\u201d.<\/p>\n<p class=\"dcr-130mj7b\">The agreement comes after almost two decades of on-off negotiations between <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/viewer.gutools.co.uk\/world\/india\" data-link-name=\"in body link\">India<\/a> and the EU, which vastly accelerated in the past six months and were finally concluded late on Monday night.<\/p>\n<p class=\"dcr-130mj7b\">The deal is expected to open up India\u2019s vast and traditionally tightly guarded market to the 27 nations in the bloc, with a focus on manufacturing and the services sector. It is expected to ease market access for key European products, including cars and wine, in return for easier exports of textiles, gems and pharmaceuticals.<\/p>\n<figure id=\"6f925823-6588-4402-b662-ee8331cad4a7\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\"dcr-173mewl\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:3,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;\u2018The mother of all trade deals\u2019: EU and India sign landmark trade agreement \u2013 Europe live&quot;,&quot;elementId&quot;:&quot;6f925823-6588-4402-b662-ee8331cad4a7&quot;,&quot;role&quot;:&quot;inline&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/world\/live\/2026\/jan\/27\/european-union-india-trade-deal-ukraine-greenland-holocaust-news-updates-europe-live&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;isInStarRatingVariant&quot;:false}\"\/><\/figure>\n<p class=\"dcr-130mj7b\">The agreement is expected to double EU exports to India by 2032 by eliminating or cutting tariffs in 96.6% of traded goods by value, and will lead to savings of \u20ac4bn (\u00a33.5bn) in duties for European companies, the EU said.<\/p>\n<p class=\"dcr-130mj7b\">\u201cEurope and India are making history today,\u201d von der Leyen said in a statement after landing in Delhi, where she met with the Indian prime minister, <strong>Narendra Mod<\/strong>i, on Tuesday. \u201cWe have concluded the mother of all deals. We have created a free trade zone of two billion people, with both sides set to benefit.\u201d<\/p>\n<p class=\"dcr-130mj7b\">Von der Leyen had previously stated that she expected exports to India to double after the deal, with the EU granted unprecedented access to the previously heavily protected Indian market.<\/p>\n<p class=\"dcr-130mj7b\">India, the world\u2019s largest country with a population of 1.4 billion, is also one of the world\u2019s fastest-growing economies and is on track to become its fourth-largest economy this year, according to International Monetary Fund.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-697880798f08ace7a0c03a2c&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-697880798f08ace7a0c03a2c&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-697880798f08ace7a0c03a2c#block-697880798f08ace7a0c03a2c\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container dcr-jko40v\"\/>\n<article id=\"block-697875808f0821ffdc6c6a07\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">JLR sales fall 25% in December as it makes just one Jaguar<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\">In Europe as a whole, taking in the EU, European free trade area and the UK, car sales grew by 7.6% to 1.2m vehicles in December, and by 2.4% to 13.3m cars in 2025, according to those industry figures from the ACEA.<\/p>\n<p class=\"dcr-130mj7b\"><strong>Jaguar Land Rover<\/strong>, which is still recovering from a crippling cyber attack in September that halted production for weeks, posted a 25.3% fall in sales in December sales to 4,332. Over 2025, sales were down 17% to 53,161.<\/p>\n<figure id=\"da93c795-430d-42e8-a261-5f4167844aac\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.ImageBlockElement\" class=\"dcr-173mewl\"><figcaption data-spacefinder-role=\"inline\" class=\"dcr-fd61eq\"><span class=\"dcr-1inf02i\"><svg width=\"18\" height=\"13\" viewbox=\"0 0 18 13\"><path d=\"M18 3.5v8l-1.5 1.5h-15l-1.5-1.5v-8l1.5-1.5h3.5l2-2h4l2 2h3.5l1.5 1.5zm-9 7.5c1.9 0 3.5-1.6 3.5-3.5s-1.6-3.5-3.5-3.5-3.5 1.6-3.5 3.5 1.6 3.5 3.5 3.5z\"\/><\/svg><\/span><span class=\"dcr-1qvd3m6\">A member of staff works on the production line at Jaguar Land Rover\u2019s factory in Solihull, Britain, December 15, 2022.<\/span> Photograph: Phil Noble\/Reuters<\/figcaption><\/figure>\n<p class=\"dcr-130mj7b\">The carmaker, owned by India\u2019s <strong>Tata Motors<\/strong>, sold only one Jaguar in December compared with 372 a year earlier. The rest of its sales came from Land Rover.<\/p>\n<p class=\"dcr-130mj7b\">At Solihull, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/jec.org.uk\/2025\/last-fpace\/\" data-link-name=\"in body link\">the last Jaguar F-PACE rolled off <\/a>the line on 19 December \u2013 the last Jaguar with an internal combustion engine ever built, as the brand steps into the electric era.<\/p>\n<p class=\"dcr-130mj7b\">The factory shutdown following the cyber attack <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2025\/nov\/14\/jaguar-land-rover-loss-cyber-attack\" data-link-name=\"in body link\">pushed the company from profit into a quarterly loss<\/a> of almost \u00a3500m in the three months to 30 September. The hack has been estimated to have cost the wider UK economy up to \u00a31.9bn, and was blamed by the government for dragging down the quarterly GDP growth figures.<\/p>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-697875808f0821ffdc6c6a07&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-697875808f0821ffdc6c6a07&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-697875808f0821ffdc6c6a07#block-697875808f0821ffdc6c6a07\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T08:49:52.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 09:49 Central European Standard Time\">09.49 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<aside data-ad-slot=\"true\" class=\"ad-slot-container ad-slot-desktop dcr-jko40v\"\/>\n<article id=\"block-697861ba8f081e93839c8d9c\" class=\"block dcr-1os4bxs\">\n<header class=\"dcr-88va8u\">\n<h2 class=\"dcr-1wl2b6o\">Introduction: EU car sales grow 1.8% in 2025 with electric cars surging while Tesla loses market share<\/h2>\n<\/header>\n<p class=\"dcr-130mj7b\"><strong>Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.<\/strong><\/p>\n<p class=\"dcr-130mj7b\">Sales of new cars in the European Union rose by 1.8% last year, with electric cars making up a bigger share of the market, while <strong>Tesla<\/strong> sales plummeted as it lost ground to China\u2019s <strong>BYD<\/strong>.<\/p>\n<p class=\"dcr-130mj7b\">However, overall car volumes remain well below pre-pandemic levels, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.acea.auto\/pc-registrations\/new-car-registrations-1-8-in-2025-battery-electric-17-4-market-share\/\" data-link-name=\"in body link\">the European Automobile Manufacturers\u2019 Association (ACEA) cautione<\/a>d. EU car sales rose by 5.8% to 963,319 vehicles in December and by 1.8% to 10.8m in 2025 versus 2024.<\/p>\n<p class=\"dcr-130mj7b\">More people are switching to electric cars: Nearly 1.9m battery-electric cars were registered which made up 17.4% of sales, up from 13.6% a year earlier. Hybrid electric cars remain the most popular choice among European consumers, accounting for 34.5% of the market. Meanwhile, the combined market share of petrol and diesel fell to 35.5% from 45.2%.<\/p>\n<p class=\"dcr-130mj7b\">The four largest markets in the EU, which together account for 62% of battery electric car sales, saw growth: Germany (+43.2%), the Netherlands (+18.1%), Belgium (+12.6%), and France (+12.5%).<\/p>\n<figure id=\"06f16c76-2568-44e8-bea9-a8054d776bbc\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.ImageBlockElement\" class=\"dcr-173mewl\"><figcaption data-spacefinder-role=\"inline\" class=\"dcr-fd61eq\"><span class=\"dcr-1inf02i\"><svg width=\"18\" height=\"13\" viewbox=\"0 0 18 13\"><path d=\"M18 3.5v8l-1.5 1.5h-15l-1.5-1.5v-8l1.5-1.5h3.5l2-2h4l2 2h3.5l1.5 1.5zm-9 7.5c1.9 0 3.5-1.6 3.5-3.5s-1.6-3.5-3.5-3.5-3.5 1.6-3.5 3.5 1.6 3.5 3.5 3.5z\"\/><\/svg><\/span><span class=\"dcr-1qvd3m6\">EU car sales.<\/span> Photograph: ACEA<\/figcaption><\/figure>\n<p class=\"dcr-130mj7b\">By the end of 2025, petrol car sales were down by 18.7%. France experienced the steepest drop, with registrations plummeting by 32%, followed by Germany (-21.6%), Italy (-18.2%), and Spain (-16%).<\/p>\n<p class=\"dcr-130mj7b\">In December, battery-electric car sales in the EU surged by 51% while plug-in hybrid electric cars jumped 36.7% and hybrid electric vehicles recorded a 5.8% increase.<\/p>\n<p class=\"dcr-130mj7b\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/technology\/tesla\" data-link-name=\"in body link\">Tesla<\/a> sales fell by 31.9% in December to 21,485, taking its market share to 2.2% from 3.5%. Over the year as a whole, sales were down 37.9% to 150,504 vehicles.<\/p>\n<p class=\"dcr-130mj7b\">The US company run by <strong>Elon Musk<\/strong> lost share to China\u2019s <strong>BYD<\/strong>, whose sales nearly tripled in December to 18,008, more than doubling its market share to 1.9% from 0.7%. In 2025, BYD more than tripled sales to 128,827.<\/p>\n<p class=\"dcr-130mj7b\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2026\/jan\/02\/china-byd-tesla-worlds-biggest-electric-car-seller-elon-musk-donald-trump-ev\" data-link-name=\"in body link\">Shenzhen-based BYD overtook Tesla as the world\u2019s largest electric carmaker in 2025<\/a>, after <strong>Donald Trump<\/strong> withdrew electric vehicle subsidies and emissions regulations that incentivised electric car production. Tesla also faced a backlash from some consumers after <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2025\/jul\/30\/elon-musk-tesla-liberals-electric-vehicles\" data-link-name=\"in body link\">Musk\u2019s embrace of far-right politics<\/a> at the end of 2024.<\/p>\n<p class=\"dcr-130mj7b\">In financial markets,<strong> gold continues its historic rally<\/strong>, rising 1.5% this morning to $5,091.64 an ounce (spot gold).<\/p>\n<p class=\"dcr-130mj7b\">There may be exciting news for pubs later today: <strong>the UK chancellor, Rachel Reeves, is expected to unveil a support package worth around \u00a3100m a year for the struggling sector<\/strong>, after being warned of widespread closures and job losses following controversial changes to business rates in the budget.<\/p>\n<p class=\"dcr-130mj7b\">The chancellor is expected to announce the relief package on Tuesday, after officials admitted that they had not foreseen the total financial impact of the rates shake-up in England and Wales announced in the budget in late November.<\/p>\n<figure id=\"f57859e3-2897-43ae-b962-1561c9f096a3\" data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.RichLinkBlockElement\" class=\"dcr-173mewl\"><gu-island name=\"RichLinkComponent\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;richLinkIndex&quot;:14,&quot;element&quot;:{&quot;_type&quot;:&quot;model.dotcomrendering.pageElements.RichLinkBlockElement&quot;,&quot;prefix&quot;:&quot;Related: &quot;,&quot;text&quot;:&quot;Pubs to get \u00a3100m a year support after business rates outcry&quot;,&quot;elementId&quot;:&quot;f57859e3-2897-43ae-b962-1561c9f096a3&quot;,&quot;role&quot;:&quot;inline&quot;,&quot;url&quot;:&quot;https:\/\/www.theguardian.com\/business\/2026\/jan\/27\/pubs-support-package-business-rates-rachel-reeves-england-wales&quot;},&quot;ajaxUrl&quot;:&quot;https:\/\/api.nextgen.guardianapps.co.uk&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;isInStarRatingVariant&quot;:false}\"\/><\/figure>\n<p class=\"dcr-130mj7b\"><strong>The Agenda<\/strong><\/p>\n<ul class=\"dcr-130mj7b\">\n<li class=\"dcr-130mj7b\">\n<p class=\"dcr-130mj7b\">11.30am GMT: Rachel Reeves in Treasury questions<\/p>\n<\/li>\n<li class=\"dcr-130mj7b\">\n<p class=\"dcr-130mj7b\">1.15pm GMT US ADP Employment change<\/p>\n<\/li>\n<li class=\"dcr-130mj7b\">\n<p class=\"dcr-130mj7b\">3pm GMMT: US Conference Board Consumer confidence for January<\/p>\n<\/li>\n<li class=\"dcr-130mj7b\">\n<p class=\"dcr-130mj7b\">5pm GMT: European Central Bank president Christine Lagarde speech<\/p>\n<\/li>\n<\/ul>\n<footer class=\"dcr-3i7iba\"><gu-island name=\"ShareButton\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;size&quot;:&quot;xsmall&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;hash&quot;:&quot;block-697861ba8f081e93839c8d9c&quot;,&quot;queryParams&quot;:{&quot;page&quot;:&quot;with:block-697861ba8f081e93839c8d9c&quot;},&quot;webTitle&quot;:&quot;Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&quot;,&quot;format&quot;:{&quot;design&quot;:11,&quot;display&quot;:0,&quot;theme&quot;:0},&quot;context&quot;:&quot;LiveBlock&quot;}\"><a rel=\"nofollow\" target=\"_blank\" href=\"mailto:?subject=Business rates support will cover both pubs and music venues, Treasury announces \u2013 business live&amp;body=https:\/\/www.theguardian.com\/business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates?CMP=share_btn_url&amp;page=with%3Ablock-697861ba8f081e93839c8d9c#block-697861ba8f081e93839c8d9c\" type=\"button\" class=\"dcr-1mulgdf\">Share<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"-3 -3 30 30\" focusable=\"false\" aria-hidden=\"true\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M19 16c1.675 0 3 1.35 3 3 0 1.675-1.325 3-3 3a2.97 2.97 0 0 1-2.975-3c0-.125 0-.275.025-.375L7.1 14.15a2.9 2.9 0 0 1-2.075.825C3.325 14.975 2 13.65 2 12a3.004 3.004 0 0 1 3.025-3.025c.775 0 1.5.35 2.075.875l8.95-4.475c-.025-.1-.025-.225-.025-.4A2.966 2.966 0 0 1 19 2c1.675 0 3 1.325 3 2.975C22 6.65 20.675 8 19 8c-.8 0-1.475-.325-2.05-.825l-8.975 4.45C8 11.7 8 11.825 8 12s0 .3-.025.375l8.975 4.45c.575-.5 1.25-.825 2.05-.825m0-12.8c-.975 0-1.8.775-1.8 1.775S18.025 6.8 19 6.8c1 0 1.825-.825 1.825-1.825S20 3.2 19 3.2m0 17.6c1 0 1.825-.825 1.825-1.8 0-1-.825-1.8-1.825-1.8-.975 0-1.8.8-1.8 1.8 0 .975.825 1.8 1.8 1.8\"\/><\/svg><\/a><\/gu-island><\/p>\n<p>Updated at\u00a0<time datetime=\"2026-01-27T11:38:01.000Z\" data-locale=\"en-gb\" title=\"Tuesday, 27 January 2026 at 12:38 Central European Standard Time\">12.38 CET<\/time><\/p>\n<\/footer>\n<\/article>\n<p><gu-island name=\"LiveBlogEpic\" priority=\"feature\" deferuntil=\"idle\" props=\"{&quot;sectionId&quot;:&quot;business&quot;,&quot;shouldHideReaderRevenue&quot;:false,&quot;tags&quot;:[{&quot;id&quot;:&quot;business\/series\/guardian-business-live&quot;,&quot;type&quot;:&quot;Series&quot;,&quot;title&quot;:&quot;Business live&quot;},{&quot;id&quot;:&quot;business\/business&quot;,&quot;type&quot;:&quot;Keyword&quot;,&quot;title&quot;:&quot;Business&quot;},{&quot;id&quot;:&quot;business\/stock-markets&quot;,&quot;type&quot;:&quot;Keyword&quot;,&quot;title&quot;:&quot;Stock 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Kollewe&quot;,&quot;bylineImageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/static\/sys-images\/Guardian\/Pix\/contributor\/2014\/10\/15\/1413385261859\/Julia-Kollewe.jpg?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=1fd976c7e16b5325a5b81f24809000f7&quot;,&quot;bylineLargeImageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/uploads\/2017\/10\/06\/Julia-Kollewe,-L.png?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=23f212ea863acfa1e5744c02a3c246fd&quot;},{&quot;id&quot;:&quot;profile\/rob-davies&quot;,&quot;type&quot;:&quot;Contributor&quot;,&quot;title&quot;:&quot;Rob Davies&quot;,&quot;twitterHandle&quot;:&quot;ByRobDavies&quot;,&quot;bylineImageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/uploads\/2017\/02\/08\/RobDavies.jpg?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=c1612b19cb30687698b444ae387ebb90&quot;},{&quot;id&quot;:&quot;profile\/hannah-ellis-petersen&quot;,&quot;type&quot;:&quot;Contributor&quot;,&quot;title&quot;:&quot;Hannah Ellis-Petersen&quot;,&quot;bylineImageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/uploads\/2023\/05\/17\/Hannah_Ellis-Petersen.jpg?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=5f5ca201fce794930238eb0fa19fadf8&quot;,&quot;bylineLargeImageUrl&quot;:&quot;https:\/\/i.guim.co.uk\/img\/uploads\/2023\/05\/17\/Hannah_Ellis-Petersen.png?width=300&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=8edbcd82d65ae850833c038d72544cc1&quot;},{&quot;id&quot;:&quot;tracking\/commissioningdesk\/uk-business&quot;,&quot;type&quot;:&quot;Tracking&quot;,&quot;title&quot;:&quot;UK Business&quot;}],&quot;isPaidContent&quot;:false,&quot;contributionsServiceUrl&quot;:&quot;https:\/\/contributions.guardianapis.com&quot;,&quot;pageId&quot;:&quot;business\/live\/2026\/jan\/27\/eu-car-sales-electric-tesla-elon-musk-gold-rises-business-live-latest-news-updates&quot;,&quot;keywordIds&quot;:&quot;business\/business,business\/stock-markets,business\/commodities,business\/currencies&quot;,&quot;renderingTarget&quot;:&quot;Web&quot;}\"\/><\/div>\n<p><em> \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n<p><em> \u2018 Some details of this article were extracted from the following source www.theguardian.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business rates support will cover both pubs and music venues, Treasury announces In a statement to the Commons, Dan Tomlinson, exchequer secretary to the Treasury, has announced changes to how it will impose business rates on hospitality venues. 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