Business
Reeves doesn’t rule out more support for hospitality sector
The Chancellor has declined to rule out extending support for hospitality businesses hit by rising business rates, beyond the help she has promised pub owners.
Last week, the BBC reported that the Treasury was poised to announce further assistance for pubs which – like all hospitality businesses – are facing the end of Covid-era business rates relief in April.
That scheme will end at the same time as sharp increases in the rateable value of their premises take effect.
Earlier in the day Reeves had hinted she was resisting calls for more support for the rest of the hospitality sector and link.
However, speaking at a press conference later the chancellor said she was “working with the hospitality sector”.
Treasury officials told the BBC that a package to specifically help pubs would be announced “in the coming days” but also declined to rule out additional relief for the wider sector.
Opposition MPs and industry bodies have been pressing for any additional help to be extended to other businesses in the sector including hotels and restaurants.
Speaking to the BBC, Rachel Reeves said: “As that transitional relief comes to an end, although we’ve put in £4.3bn over the next three years, we need to make sure that we do that in a balanced way that particularly supports our pubs and the hospitality sector.”
The £4.3bn figure refers to the value of caps placed on rate rises in the next three years to smooth out increases that will eventually see rates bills for pubs rise 76% in three years, while hotels face rises of 115% over the same period.
Kate Nicholls from the trade body Hospitality UK said she was encouraged that the door appeared to be open for non-pub businesses also facing steep rises in business rates.
“It’s good to see recognition of wider hospitality and that she is talking about support beyond pubs,” she said.
Reeves told BBC Breakfast on Wednesday that she is “particularly concerned” about the impact of business rates on pubs, but hinted she was resisting calls for more support for the rest of the hospitality sector.
Asked what support other smaller hospitality businesses would get, Reeves said: “I think that people can see that the biggest impact and the biggest concern right now is around pubs.
“Some of the smallest businesses, particularly some cafes, don’t pay any business rates at all because they’re not big enough to do so.”
Businesses have warned they will struggle to pay higher rates, after Covid-era relief ends in April and sites are revalued.
Goldman Sachs CEO David Solomon speaks during an interview at the Economic Club of Washington in Washington, D.C., U.S., Oct. 30, 2025.
Kevin Lamarque | Reuters
Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Thursday.
Here’s what Wall Street expects:
- Earnings: $11.67 per share, according to LSEG
- Revenue: $13.79 billion, according to LSEG
- Trading revenue: Fixed income of $2.93 billion, equities of $3.70 billion, per StreetAccount
- Investing banking fees: $2.58 billion, per StreetAccount
Goldman Sachs is set up to be a beneficiary of several trends in the fourth quarter.
Trading desks across Wall Street have benefited in the last year as President Donald Trump’s policies have roiled markets for bonds, currencies, commodities and stocks.
For instance, rival JPMorgan Chase topped expectations for fourth-quarter results on equities and fixed income trading revenue that exceeded the StreetAccount estimate by a combined $460 million.
Global investment banking revenue in the quarter was 12% higher than a year ago, according to Dealogic, which should provide a boost to Goldman’s advisory business.
The firm’s asset and wealth management division should also see gains as stock market levels remained buoyant in the quarter.
Finally, the bank said last week that its deal to offload its Apple Card business to JPMorgan would result in a 46-cents-per-share boost to quarterly results.
This story is developing. Please check back for updates.
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X decision came after facing outrage over the misuse of Grok, where the AI Chatbot was found to be complying with user requests to digitally undress images of real people.
Elon Musk’s Grok can no longer undress images of real people on X. (Representative Image)
Amid the rising concerns over the sexualised AI deepfakes in countries including the UK and US, Elon Musk’s Grok artificial intelligence chatbot will no longer edit “images of real people in revealing clothing” on X, the company confirmed Wednesday evening.
The company’s decision came after facing global outrage over the misuse of Grok, where the AI Chatbot was found to be complying with user requests to digitally undress images of adults and, in some cases, children.
“We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such as bikinis. This restriction applies to all users, including paid subscribers,” X wrote via its Safety team account.
Within the last week xAi, which owns both Grok and X, restricted image generation for Grok on X to paying X premium subscribers
CNN reported that it has been observed that in the last few days, Grok’s X account had modified how it responded in general to users’ image generation requests, even for those subscribed to X premium.
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United States of America (USA)
January 15, 2026, 08:34 IST
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Elon Musk’s AI model Grok will no longer be able to edit photos of real people to show them in revealing clothing, after widespread concern over sexualised AI deepfakes in countries including the UK and US.
“We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such as bikinis.
“This restriction applies to all users, including paid subscribers,” reads an announcement on X, which operates the Grok AI tool.
The change was announced hours after California’s top prosecutor said the state was probing the spread of sexualised AI deepfakes, including of children, generated by the AI model.
The update expands measures that stop all users, including paid subscribers, editing images of real people in revealing outfits.
X, formerly known as Twitter, also reiterated in a statement on Wednesday that only paid users will be able to edit images using Grok on its platform.
This will add an extra layer of protection by helping to ensure that those who try and abuse Grok to violate the law or X’s policies are held accountable, it said.
Users who try to generate images of real people in bikinis, underwear and similar clothing using Grok will be stopped from doing so according to the laws of their jurisdiction, X’s statement said.
In a statement on Wednesday, California Attorney General Rob Bonta said: “This material, which depicts women and children in nude and sexually explicit situations, has been used to harass people across the internet.”
Malaysia and Indonesia have blocked access to the chatbot over the images and UK Prime Minister Sir Keir Starmer warned X could lose the “right to self regulate” amid outrage over the AI images.
Britain’s media regulator, Ofcom, said on Monday that it would investigate whether X had failed to comply with UK law over the sexual images.
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