Labour MPs call for halt to business rate rise for music venues Under pressure from the hospitality industry and backbench Labour MPs, she has been working on a support package for pubs , to be unveiled imminently. Reeves has been warned that music venues in the UK are facing "an existential threat" from increased costs. The letter, which has been seen by the BBC, argues that a revaluation of busi...
Labour MPs call for halt to business rate rise for music venues Under pressure from the hospitality industry and backbench Labour MPs, she has been working on a support package for pubs , to be unveiled imminently. Reeves has been warned that music venues in the UK are facing "an existential threat" from increased costs. The letter, which has been seen by the BBC, argues that a revaluation of business rates, effective from April, could increase music venues' bills by between 45% and 275%. Nearly fifty Labour MPs have written to Chancellor Rachel Reeves calling for a forthcoming increase in business rates for music venues to be halted. Around 1,000 pubs had banned Labour politicians from their premises in protest at the prospect of increased costs both from the revaluation and the withdrawal of Covid-era support. In her November Budget, the chancellor scaled back business rate discounts that have been in force since the pandemic from 75% to 40% - and announced that there would be no discount at all from April. Many Labour MPs – as well as opposition politicians – are concerned that any support package could exclude the wider hospitality sector such as hotels and live music venues. They are pressing for a wider U-turn. The letter was co-ordinated by Liverpool MP and Culture, Media and Sport Committee member Anneliese Midgeley, and includes Labour MPs on the committee. It states: "Many of us have been contacted by constituents in recent months who use and run these critical music spaces, explaining that they will be severely impacted by the 2026 business rates revaluation." It asks the chancellor to cancel the April increase until a new and less damaging method of valuing music venues can be devised. It also calls for more support for recording studios, claiming as many as half of them are under threat from the rates revaluation. The Treasury has been approached for comment.
Anna Moneymaker/Getty Images News Ford ( F ) and General Motors ( GM ) are in talks with First Brands over a potential lifeline to avoid supply disruption, as the car parts supplier seeks financing to help it continue operations during Chapter 11 proceedings, sources told the Financial Times . A group of carmakers is negotiating a financing arrangement for First Brands that would involve them payi...
Anna Moneymaker/Getty Images News Ford ( F ) and General Motors ( GM ) are in talks with First Brands over a potential lifeline to avoid supply disruption, as the car parts supplier seeks financing to help it continue operations during Chapter 11 proceedings, sources told the Financial Times . A group of carmakers is negotiating a financing arrangement for First Brands that would involve them paying in advance for products they plan to receive. Talks were near the finish line, but the deal could still fall apart. "There is a group of customers working to get components out as quickly as possible to avoid any disruption," a person familiar with the matter told FT . They added that several carmakers were participating in the talks, but "Ford ( F ) is probably the most exposed and the one that's got the most at risk here." First Brands makes important components for Ford ( F ) and GM ( GM ), including windscreen wiper parts for Ford's bestselling vehicle—the F-150. The car parts supplier, which has rapidly burned through cash during its bankruptcy proceedings, projected that it would run out of money by the first week of February without additional funding. First Brands is winding down parts of its North American operations, including its Brake Parts, Cardone, and Autolite brands. Its remaining units will continue operating as it seeks buyers for its assets. More on First Brands Jefferies stock slides as First Brands charge muddies Q4 results Jefferies presses to question First Brands founder under oath First Brands creditors hire firm that investigated FTX bankruptcy First Brands sues founder Patrick James over alleged misconduct
Hong Kong police have charged a man with illegal possession of fireworks and firecrackers after seizing a haul worth HK$1 million (US$128,200) from a shipping container in Tuen Mun, three weeks ahead of the Lunar New Year. Officers from the New Territories North regional anti-triad unit found 58 boxes containing 800kg (1,764lbs) of pyrotechnics during a raid in Tai Lam Chung at about 4pm on Monday...
Hong Kong police have charged a man with illegal possession of fireworks and firecrackers after seizing a haul worth HK$1 million (US$128,200) from a shipping container in Tuen Mun, three weeks ahead of the Lunar New Year. Officers from the New Territories North regional anti-triad unit found 58 boxes containing 800kg (1,764lbs) of pyrotechnics during a raid in Tai Lam Chung at about 4pm on Monday, the force said. Senior Inspector Kwok Man-wai said police found the goods in a container rented by the 37-year-old suspect, adding that he was scheduled to appear at Fanling Court on February 12. Advertisement “Police were committed to an intelligence-led operation to combat fireworks- and firecracker-related offences, intercepting the goods before they flowed into the market,” Kwok said. “These items are extremely likely to cause fires or other serious accidents, posing a major threat to personal and public safety.” Advertisement Those convicted of illegal possession of fireworks or firecrackers under the Dangerous Goods Ordinance face a maximum penalty of 12 months’ imprisonment and a HK$200,000 fine.
Wall Street has experienced a rare but not unprecedented bull market during the past three years. Here's what history can teach us about what to expect. The S&P 500 is coming off of a tremendous three-year stretch. How good was it? Historically good. Here is the total return for the index for each of the past three years: Year S&P 500 Total Return 2023 26.3% 2024 25% 2025 17.9% That's three consec...
Wall Street has experienced a rare but not unprecedented bull market during the past three years. Here's what history can teach us about what to expect. The S&P 500 is coming off of a tremendous three-year stretch. How good was it? Historically good. Here is the total return for the index for each of the past three years: Year S&P 500 Total Return 2023 26.3% 2024 25% 2025 17.9% That's three consecutive years in which the index returned more than 15%. It was a combination of circumstances that set off this run. U.S. stocks were coming off a miserable 2022, when the S&P 500 and long-term Treasuries both lost more than 20% from peak to valley. However, a slowdown in inflation and the end of an aggressive Federal Reserve rate-hiking cycle provided some glimmer of hope. By the latter part of 2022, stocks had reached a bottom. Then 2023 brought the return of conditions that were more favorable, if not ideal, and the beginning of the artificial intelligence (AI) trade. Suddenly, optimism was returning, and it led to a huge rally, especially for the tech sector and its "Magnificent Seven." Three consecutive years of 15%-plus returns in the S&P 500 is actually quite rare. During the past 100 years, it has only happened four other times. 2019 (up 31.5%) , 2020 (18.4%) , and 2021 (28.7%) . Yes, the last time this happened was just a few years ago! It would be easy to forget this, given that the pandemic knocked more than 30% off the index in just a couple of months in 2020. But the S&P 500 recovered all of it by August and spent the latter half of the year setting a series of new all-time highs. , , and . Yes, the last time this happened was just a few years ago! It would be easy to forget this, given that the pandemic knocked more than 30% off the index in just a couple of months in 2020. But the S&P 500 recovered all of it by August and spent the latter half of the year setting a series of new all-time highs. 1995 (37.6%) , 1996 (23%) , 1997 (33.4%) , 1998 (28.6%) , and 1999...
"Communism Is A Sh*tty Deal": Cuba's Power Grid Descends Further Into Blackout Nightmare Cuba is facing a severe and worsening energy crisis driven by a tightening U.S. blockade, part of President Trump's gunboat diplomacy across the Caribbean region, as reported Sunday , with conditions now deteriorating further as the island's power grid appears to be imploding under strain, resulting in blackou...
"Communism Is A Sh*tty Deal": Cuba's Power Grid Descends Further Into Blackout Nightmare Cuba is facing a severe and worsening energy crisis driven by a tightening U.S. blockade, part of President Trump's gunboat diplomacy across the Caribbean region, as reported Sunday , with conditions now deteriorating further as the island's power grid appears to be imploding under strain, resulting in blackouts lasting up to 20 hours per day. " Cuba's electrical system has completely collapsed in Havana after more than 20 hours of blackouts ," Venezuelan-born political commentator Eduardo Menoni wrote on X. Menoni said this widespread blackout for most of the day could last for weeks, as there is no known timeframe for when the grid will be fixed . He added, " Cuba's electrical system has completely collapsed in Havana after. Communism is A SHITTY DEAL ." 🇨🇺🚨| URGENTE: El Sistema eléctrico de Cuba, colapsó por completo en La Habana tras más de 20 horas de apagones, dejando a la capital sin luz y con previsiones de hasta 2 semanas sin energía en toda la isla. El comunismo es UNA MIERDA. Dale ME GUSTA Y RT para que todos lo vean. pic.twitter.com/VQl0StH67p — Eduardo Menoni (@eduardomenoni) January 25, 2026 Following the U.S. intervention in Venezuela and the capture of President Nicolás Maduro, crude oil shipments from Cuba's main supplier have been halted, leaving the island with a massive energy deficit. Mexico has emerged as a major supplier of about 17,200 barrels per day to Cuba in late 2025, with President Claudia Sheinbaum defending these shipments as "solidarity" despite U.S. pressure. However, Sheinbaum's administration is now reviewing those shipments amid the risk of reprisals from Trump. "Cuba is facing more powerful US threats than it has in the 67 years since the revolution," Carlos de Céspedes, Cuba's ambassador to Colombia, told Al Jazeera on Saturday. Earlier this month, Trump unveiled the pressure campaign: " Cuba is ready to fall. Cuba now has no income. They g...
Meta is gearing up to trial new premium subscriptions for Instagram, Facebook, and WhatsApp in the coming months that will allow users to access expanded AI capabilities and additional features. TechCrunch reports that the upcoming subscription plans aim to “unlock more productivity and creativity” by providing premium users with “more control over how they share and connect.” The core Instagram, ...
Meta is gearing up to trial new premium subscriptions for Instagram, Facebook, and WhatsApp in the coming months that will allow users to access expanded AI capabilities and additional features. TechCrunch reports that the upcoming subscription plans aim to “unlock more productivity and creativity” by providing premium users with “more control over how they share and connect.” The core Instagram, Facebook, and WhatsApp services will remain free to use, and the new premium subscriptions will be separate from the paid Meta Verified service that was launched in 2023. Meta told TechCrunch that it will test a variety of subscription features and bundles, and will launch each app subscription with a distinct set of exclusive capabilities. The price of these upcoming subscription plans is currently unknown. One of the features being tested is Vibes, the AI-generated short-form video experience built into the Meta AI app. While Vibes has been free since it launched in September 2025, Meta is now reportedly planning to move to a freemium model that locks certain video creation opportunities behind a paid subscription. Manus, the suite of general AI agents that Meta acquired in December for a reported $2 billion, will also be part of the subscription plans, with Meta integrating Manus into its own products while continuing to offer it to businesses as a standalone subscription. An integration spotted by leaker Alessandro Paluzzi is a shortcut to Manus AI on Instagram, alongside a description that reads “research, create, and build with Manus.” According to Paluzzi, Instagram’s premium subscription may allow users to create unlimited audience lists, see a list of accounts you follow who don’t follow you back, and view a Story without notifying the user who posted it. We do not currently know what the premium subscriptions for WhatsApp and Facebook might provide. Meta could be preparing these premium subscription plans to claw back some of the revenue it’s invested into AI. Whi...
Social Security beneficiaries are likely to get a raise, and here's how much it could be. Social Security just gave all beneficiaries a 2.8% cost-of-living adjustment, or COLA, for 2026. And while it's too early to know for sure what to expect for 2027, here's an initial estimate based on the information we know now. *Stock prices used were the morning prices of Jan 22, 2026. The video was publish...
Social Security beneficiaries are likely to get a raise, and here's how much it could be. Social Security just gave all beneficiaries a 2.8% cost-of-living adjustment, or COLA, for 2026. And while it's too early to know for sure what to expect for 2027, here's an initial estimate based on the information we know now. *Stock prices used were the morning prices of Jan 22, 2026. The video was published on Jan 23, 2026.
Legal action over 'unfair' Steam game store prices given go ahead Valve, which has been contacted for comment, had argued the case should not be certified to proceed towards a trial. The legal action was brought by digital rights campaigner Vicki Shotbolt in 2024 on behalf of up to 14 million Steam users across the UK, who could be in line for compensation if she wins. The gaming giant is being ac...
Legal action over 'unfair' Steam game store prices given go ahead Valve, which has been contacted for comment, had argued the case should not be certified to proceed towards a trial. The legal action was brought by digital rights campaigner Vicki Shotbolt in 2024 on behalf of up to 14 million Steam users across the UK, who could be in line for compensation if she wins. The gaming giant is being accused of abusing its market dominance by imposing restrictive terms on game publishers and locking players into using Steam. Valve Corporation will face a £656m lawsuit in the UK over alleged unfair prices on its global online store, Steam, following a tribunal ruling that the case could continue. The lawsuit - filed at the Competition Appeal Tribunal in London - alleges Valve "forces" game publishers to sign up to conditions which prevents them from selling their titles earlier or for less on rival platforms. It claims that as Valve requires users to buy all additional content through Steam, if they've bought the initial game through the platform it is essentially "locking in" users to continue making purchases there. This, Ms Shotbolt argues, has enabled Steam to charge an "excessive commission of up to 30%", making UK consumers pay too much for purchasing PC games and add-on content. The case is what is known as a collective action claim, which means that one person goes to court on behalf of a much larger group of people. In this instance, it has been brought on behalf of up to 14 million people in the United Kingdom who bought games or additional content through Steam or other platforms since 2018. The claim is backed by legal firm Milberg London LLP, which brings group action cases against large companies. A separate consumer action case, filed in August 2024, has been brought against Valve in the US. Starting out as a developer of award-winning titles such as Half-Life, Valve launched Steam in 2003, which has grown to become the world's largest distribution platform ...