Business
Pubs cheer business rates relief while other firms ‘left out in the cold’
Sam Lamiroy said Burnham’s announcement is a step in the right direction and shows the government is trying to help, but agrees with Nick Smith that “VAT is the real problem”.
He said the turnover of a typical pub or restaurant can easily be between £500,000 and £1m, meaning a £1,000 saving “won’t make much difference”.
“The 20% drop in business rates is really just lip service, it won’t affect whether we survive or not, the real lever to pull is help with VAT, dropping the rate from 20% to 10% as it is in the rest of Europe,” he told the BBC.
Lamiroy also said he fears his Penzance-based bar and restaurant, 45 Queen Street, will not be considered a “pub” and so be ineligible under the terms of the support package.
And, urging the government to do more to support hospitality businesses, he said: “These are the first jobs for a lot of young people, it is a springboard into work.
“When these places shut, it’s not just my business and income that disappears, it is the entire team.”
Business
‘Ransom Canyon’ Season 2 Returns to Netflix Today With Josh Duhamel and Minka Kelly’s Long-Awaited Reunion
Netflix’s Texas-set romantic drama “Ransom Canyon” returns for its second season Thursday, dropping all eight new episodes at once and picking up the on-again, off-again love story between its two central characters roughly six months after the first season’s cliffhanger ending.
The series, based on the book franchise by author Jodi Thomas, stars Josh Duhamel as rancher Staten Kirkland and Minka Kelly as dance hall owner Quinn O’Grady, whose long-simmering romance became the emotional center of the show’s first season before it ultimately fell apart amid Staten’s unresolved grief and anger. Season 2 begins streaming at 3 a.m. Eastern time, or midnight Pacific time, the standard release window for Netflix original series.
Where the story picks up
According to Netflix’s official synopsis, Season 2 opens six months after the events of Season 1, with Staten fighting to reclaim his standing after being unseated as trustee of his family’s Double K Ranch. Quinn, meanwhile, spent that time away in New York City pursuing her career as a concert pianist, leaving her hometown, and her relationship with Staten, behind.
The new season’s early preview clips show Staten learning that Quinn has returned to Ransom, setting the stage for their reunion. But according to Netflix’s Tudum editorial site, Quinn does not come back to town alone: during her time in New York, she appears to have begun a new relationship, a development the show’s trailer suggests will fuel jealousy on Staten’s part and further complicate their long-running dynamic.
New love triangles brewing
Beyond the central Staten-and-Quinn storyline, the new season’s trailer teases several additional romantic entanglements developing across Ransom’s tight-knit community. A love triangle appears to be forming involving rancher Yancy, a character named Ellie, and Yancy’s wife Sidney, a role played by newcomer Heidi Grace Engerman, who joins the cast this season. The trailer also hints at romantic tension developing between the character Lauren and Lucas’s brother Kit, even though, according to reporting on the show’s development, series creator April Blair had originally conceived of a different pairing for those characters before the storyline shifted during the writing process.
Showrunner and executive producer April Blair described the series’ guiding themes ahead of the new season’s release. “We have these three tenets, which are land, love, and legacy,” Blair said, characterizing the framework the show continues to build its interconnected storylines around heading into Season 2.
Cast changes
Season 2 arrives with a notably different supporting cast than the show’s first run. According to Deadline, two key cast members from Season 1, Eoin Macken and Andrew Liner, who played father-and-son ranchers Davis Collins and Reid Collins, will not return in regular roles this season. No official explanation was given for their departures, though their absence effectively closes out a love triangle from Season 1 in which Davis competed with Staten for Quinn’s affections.
Joining the returning ensemble is Patricia Clarkson, the Emmy-winning actress who takes on the role of Quinn’s mother this season, alongside Steve Howey, who plays Staten’s half-brother Levi in a recurring capacity. The broader Season 2 cast also includes returning performers Lizzy Greene, Garrett Wareing, Jack Schumacher, Marianly Tejada, Casey W. Johnson, Ben Robson, Tatanka Means, Justin Johnson Cortez, Philip Winchester, Jennifer Ens, Brett Cullen and Niko Guardado.
A show built on Yellowstone-style drama
“Ransom Canyon” premiered on Netflix in April 2025 and quickly drew comparisons to modern Western dramas like “Yellowstone,” blending ranch-set family conflict with sweeping romantic storylines centered on a fictional small Texas town. The series follows several interconnected families navigating land disputes, long-held rivalries and complicated romantic histories, themes that made the first season one of the platform’s more talked-about original dramas following its release.
Netflix confirmed the show’s renewal for a second season in June 2025, just two months after the first season debuted. Blair expressed enthusiasm about continuing the story at the time. “I couldn’t be happier that Netflix is ready to get back in the saddle for Ransom Canyon!” Blair said in a statement announcing the renewal. “Our dreamy little corner of Texas Hill Country is full of stories still untold, and we can’t wait to bring them to our incredible fans. Get ready for another ride.”
Production timeline
Filming for Season 2 began in the fall of 2025, following months of early writers’ room development that started even before the show’s official renewal. Blair told TV Insider in an interview that the writing process began ahead of the formal green light. “We’ve already started the writers’ room, even though the show hasn’t been picked up to series yet for Season 2,” Blair said at the time, reflecting the show’s confidence heading into its second outing.
What’s next for the series
As of Thursday’s premiere, Netflix has not publicly confirmed whether “Ransom Canyon” will return for a third season, leaving the show’s long-term future an open question even as all eight new episodes become available for fans to watch in a single release. Given the extensive setup embedded in the Season 2 trailer, including new relationships, family power struggles and unresolved tension between its central couple, the show appears positioned to leave plenty of narrative threads open heading into any potential future installment.
For now, fans eager to see whether Staten and Quinn finally find their way back to each other, and how the show’s newly introduced love triangles play out, can stream the full second season of “Ransom Canyon” starting Thursday on Netflix.
The U.K.’s rate of inflation in June declined to its lowest level in more than a year after gasoline costs fell, raising the likelihood that the Bank of England will keep its key interest rate on hold next week, even with prices likely accelerating in the months ahead.
Consumer prices were 2.6% higher in June than the same month of last year, slowing from a 2.8% inflation rate in both April and May, the Office for National Statistics said Wednesday. That marked the lowest annual increase in prices since March 2025. Economists polled last week by The Wall Street Journal expected a reading of 2.7%.
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Business
Adani Green shares tumble 5% after Q1 results. Here’s why Bernstein has an Underperform rating
Revenue from operations in the reporting period increased 16% YoY to Rs 4,663 crore. Revenue from power supply rose 29% YoY to Rs 4,280 crore from Rs 3,312 crore.
Adani Green said that its performance was driven by capacity expansion and strong operating performance. The company’s operational capacity rose 27% YoY to 20,142 MW as of June 2026, compared with 15,816 MW a year earlier and 19,294 MW at the end of March 2026.
Energy sales rose 30% YoY to 13,657 million units in Q1FY27, helped by fresh greenfield capacity additions and higher generation. The company added 848 MW of capacity during the quarter and 4,327 MW on a YoY basis.
Also read: FIIs are leaving Adani Enterprises. Here’s who is buying
Adani Green’s EBITDA from power supply rose 33% YoY to Rs 4,122 crore from Rs 3,108 crore. The EBITDA margin stood at 94%, compared with 93% a year earlier and 91% in the March quarter.
Why Bernstein dislikes Adani Green
Bernstein retained its Underperform rating on Adani Green, saying the company remains the best player in the renewable energy space but raising concerns over its new structure for the commercial and industrial segment.
The brokerage highlighted Adani Green’s decision to allocate its entire merchant generation capacity, comprising 4 GW of operating and planned capacity, along with its entire battery storage capacity of 10 GWhr coming online this year, to Adani Energy Solutions on a long-term fixed tariff basis.
According to Bernstein, the structure allows Adani Green to focus on execution while maintaining its existing return hurdles, with Adani Energy Solutions selling the power forward to industrial customers such as data centres. While Bernstein said Adani Green has remained well ahead of its peers in renewable energy, it believes a reasonable portion of the potential upside has shifted to Adani Energy Solutions following the transaction.
Apart from this, execution remained on track, although curtailment reduced EBITDA by 5-7%, which the company expects to normalise in the second half.
Adani Green Q1 management commentary
CEO Ashish Khanna said the company began FY27 with strong momentum and crossed the 20 GW operational capacity milestone. “As renewable penetration rises and power demand continues to grow, storage will play a critical role in ensuring round-the-clock reliability and grid stability,” he said.
Read more: India needs 2,000 GW new power capacity in 20 years, says Adani Green’s Sagar Adani
Adani Green said it is progressing on the development of its 30 GW renewable energy plant at Khavda in Gujarat. The project is spread across 538 sq km, which the company said is almost five times the size of Paris.
Operational capacity at Khavda rose to 10.3 GW from 5.6 GW a year earlier. The portfolio at Khavda includes solar, wind and hybrid capacity. The company said it remains on track to achieve 30 GW renewable energy capacity at the site by 2029.
On a YoY basis, Adani Green added 3,051 MW of solar capacity, including 2,662 MW in Khavda and 389 MW in Rajasthan. It also added 684 MW of wind capacity and 592 MW of solar-wind hybrid capacity at Khavda.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Late media mogul Ted Turner used conservation easements to preserve ranch land, including nearly 114,000 acres south of Bozeman, Montana.
Kevin Fleming | Corbis Documentary | Getty Images
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Congress is moving to expand a land preservation tax incentive that has spent nearly a decade under IRS scrutiny. House and Senate proposals of the farm bill would create a new program to provide funding to landowners who agree to keep forests intact rather than sell or develop them.
The IRS cracked down on conservation easements after groups of investors used them to generate billions of dollars in inflated tax deductions. However, the tax strategy still has value for individuals and families who want to preserve their land and pay less to Uncle Sam, lawyers who specialize in conservation easements told CNBC.
More than a dozen states offer some sort of tax credit for donating land and some, including New York, Colorado and Georgia, have aggressively expanded their conservation easement programs in recent years.
“I run into people who say, ‘Wow, conservation easements are bad things. They’re abusive.’ No, they’re not. They are for a small set of people and a small set of people that are getting sucked into this by bad actors,” said Florida lawyer Keith Fountain. “My clients are people who own land and love the land, and the conservation easements provide a way to get some financial benefit and to keep and own and manage that land for the right purposes forever.”
Conservation easements let landowners keep ownership of the property while giving up certain development rights. Typically, the owner agrees to permanently limit how the property can be used, often to preserve farmland, wildlife habitats or open space. The landowner can then donate those foregone development rights or sell them at a discount to a land trust, government agency or another qualified group.
In return, the owner can claim a charitable deduction. In many cases, they can still reside on the land and use it for recreational purposes like hunting and fishing, as long as they fit the easement’s restrictions.
Fountain said many of his ranching clients sell conservation easements to keep land in the family and use the proceeds to pay off debt or buy out younger family members who aren’t interested in ranching. By selling the easements on their land at a discount, the clients collect cash and can claim a charitable deduction for the difference between the sale price and the fair market value.
The transactions targeted by the IRS involve groups of investors, not longtime individual landowners. In these so-called syndicated conservation easement deals, a promoter sells stakes in land to investors and donates the easement. By using an inflated valuation of the property’s development rights, the investors are able to claim a tax deduction that exceeds what they paid for the land.
In a recent example filed last week, the U.S. Tax Court slashed a $41.6 million deduction claimed by an Alabama partnership to $800,000. The court agreed with the IRS that the deduction was based on a speculative valuation of the property’s potential as a limestone quarry.
Congress capped conservation easement values in 2022 in order to shut down syndicated easements, but the IRS is still wading through some 1,100 cases. The agency extended a settlement offer in May in an attempt to reduce the backlog.
While the government has targeted syndicated deals, individuals can still trigger an IRS audit by donating an easement. For this reason, Fountain said his clients usually choose to sell easements at a discount even though donating one can come with better tax benefits.
Many lawyers refuse to advise on conservation easements altogether. However, Carolyn Schenck, former IRS national fraud counsel, told CNBC that conservation easements shouldn’t be written off.
“The fact that some taxpayers abuse the rules, I don’t think means that the underlying policy lacks value in any way,” said Schenck, who left the IRS in 2025 for law firm Caplin & Drysdale. “I think there is a sentiment at the IRS that properly supported conservation easement is not a loophole.”
Know the rules of the road
In the past two years, the Tax Court has typically centered on what the land’s foregone development rights are actually worth, according to lawyer Diana Norris, associate director for conservation defense at the Land Trust Alliance. This focus on valuations has removed a lot of uncertainty for land trusts and landowners, as earlier conservation easement cases often turned on technical defects in the deed or donation paperwork, she said.
Lawyer Steve Small said conservation easements aren’t risky if you work with a lawyer who follows the case law and executes them frequently. Small helped write the tax code for conservation easements in the early 1980s when he was with the IRS.
The biggest issue, he said, is dealing with clients who have unrealistically high expectations of how much they can deduct, which he blames on promoters of syndicated easements. For recently bought property, the deduction will be a percentage of the purchase price, not a multiple, according to Small.
Donors also have to consider less obvious factors that can shrink their deduction, he said. For instance, easements can enhance the value of surrounding properties by preserving scenic views and privacy. If the easement benefits nearby property owned by the landowner or a relative, the additional value has to be subtracted from the deduction, Small said.
He also recommends that clients include lots of photos of the land with their form submissions.
“What does the IRS get when you take an easement deduction? A lot of typed paper,” he said. “They don’t get any feel at all for the beauty of the project or the views across the open space.”
Small said the risk of an audit is minimal if the conservation easement is sound, especially with the IRS being understaffed.
“Frankly, I think if you do a good honest conservation easement project today, the risk is lower than it was 10 years ago,” he said.
Banco Santander SAN said it is on track to hit its targets, after customer gains and higher activity levels helped second-quarter net profit rise on year.
The Spanish bank has sought to reshape its portfolio through dealmaking over the past year, moving to bolster its exposure to the U.S. and the U.K.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Stocks were on track to open lower on Wednesday after a jump in oil prices revived fears that a flare-up in inflation could drag down the market.
S&P 500 futures declined 0.4%. Nasdaq 100 futures fell 0.8%. Dow Jones Industrial Average futures slipped 76 points, or 0.1%.
The three major indexes all snapped three-day losing streaks in the previous session thanks to a strong rebound in chip stocks, although worries remain about how long the artificial-intelligence spending boom can last.
Business
William and Kate Plan a ‘Summer to Remember’ for Prince George Before He Heads Off to Eton College This Fall
Prince William and Catherine, the Princess of Wales, are planning an especially memorable summer for their eldest son, Prince George, ahead of a significant milestone this fall: his departure from home to begin boarding at Eton College.
George turned 13 on July 22, and in September he will leave his family’s Windsor-area home to attend the prestigious all-boys school his father also attended decades earlier. A family friend told Vanity Fair that William and Catherine are determined to give George a “summer to remember” before that transition begins.
A quiet birthday, with one notable exclusion
Following royal family tradition, George celebrated his 13th birthday privately this week, including a cake baked by his mother, a custom Catherine has followed for each of her three children. According to Vanity Fair, the teenager is receiving a low-key birthday celebration, though the outlet noted one gift he will not be getting: a smartphone with internet access.
“One thing George won’t be getting is an iPhone,” royal commentator Sarah Hewson told Vanity Fair. “His parents are very hot on phones, and they won’t allow him on social media. They want to protect him from that for as long as they can.” The stance echoes comments William has made previously about limiting his children’s early exposure to internet-connected devices, even as he has said a more basic phone for calls and texting could be appropriate once George starts secondary school.
A summer centered on Norfolk
Much of the family’s summer will reportedly be spent at Anmer Hall, the Wales family’s country home in Norfolk, a property Hewson described as holding particular significance for the family. “It is very special to the family because it’s a place where they can escape daily life and enjoy their freedom,” Hewson said. “It’s their family sanctuary.” She added that the family’s traditional activities there, including walks, beach runs, sailing, picnics and swimming, are expected to make for “the best possible summer before George heads off to boarding school.”
A separate source told Vanity Fair that the upcoming transition carries real emotional weight for the family. “That’s a big step,” the source said of George’s move to Eton. “He will be away from home for the first time, and William and Catherine want to spend as much quality time together as they can this summer.”
Possible adventures on the horizon
According to The Sun, William and Catherine “have an action-packed summer in store” for their children, potentially including an adventure trip for George. Royal biographer Ingrid Seward described George’s enthusiasm for outdoor activity, noting his interests align closely with his father’s. “Like his father, he loves being outdoors, doing things,” Seward said. “Playing cricket and tennis and, in the last couple of years, even scuba diving.” An island getaway to Mustique, a longtime favorite vacation spot for the Wales family, has also reportedly been discussed as a possibility for the summer.
A teenager who wants to fit in
Seward also spoke to how George’s personality has developed as he approaches adolescence, describing a boy who prefers blending in with peers rather than standing out because of his royal position. “Teenagers hate that, and his parents understand only too well,” Seward said, adding that George is “no boaster” and “keeps quiet about his privileged family life.” She continued, “Like most teenagers, he wants to blend in with his friends and enjoy doing what they are doing. George is, of course, aware of exactly who he is. Lambrook parents have noticed he does not push himself forward unnecessarily.”
Seward, who also serves as editor-in-chief of Majesty Magazine, added that George’s personality is likely to keep evolving as he matures. “As a teenager he will no doubt change, but he will still be happiest outdoors and slowly gathering the confidence that will one day be important to his future.”
A family friend offered a similarly grounded description of George’s dual public and private demeanor to The Sun, saying, “Behind closed doors, he’s like any other teen, but in public he takes it all very seriously.”
A deliberate approach to parenting
Royal commentators and sources close to the family have pointed to this summer as reflecting a broader, intentional parenting philosophy William and Catherine have maintained throughout their children’s upbringing. Royal biographer Robert Jobson emphasized how quickly the milestone years are passing. “In the blink of an eye, George will be 18, and they must know that these years will fly by,” Jobson said. “They’ve done a very good job bringing up the children and focusing on their own family unit. Despite all the other drama going on in the family, they rise above it.”
A source told The Telegraph that the family’s approach to everyday routines, from school runs to time spent outdoors together, reflects a deliberate strategy rather than incidental choices. “The way they have lived their lives, getting the kids outside, spending time together, focusing on the school run, it’s just as strategic as any other part of their public service,” the source said, adding, “Preparing their children for the lives they are going to lead, it’s central to their roles, it’s not something that’s on the side.”
Getting ready for Eton
Part of the summer will also involve direct preparation for George’s move. According to Vanity Fair, George is said to be “over the moon” about starting at Eton, and will take part in a leavers’ party as he finishes his time at Lambrook School, where his younger siblings, Princess Charlotte and Prince Louis, continue to attend. Royal commentator Charlotte Griffiths described the close bond between father and son as central to that preparation. “William and George are very close, and William will be making sure George is well prepared,” Griffiths said. “They will hunker down and spend the summer together in Norfolk before the big move to Eton. It’s an exciting time for them all.”
With George’s move to Eton set for September, the coming weeks in Norfolk are expected to serve as both a celebration of his teenage milestone and a final stretch of concentrated family time before he begins boarding school life away from home for the first time, a transition his parents appear determined to ease with an especially full and memorable summer together.
China’s Geely to make electric SUVs at Ford Spain plant, jointly develop model for Europe
According to a filing with the exchange, revenue increased 4.1% quarterly to Rs 1,226 crore. The company reported a gross profit of Rs 326 crore, growing 2.6% quarterly and nearly 25% yearly.
Also Read | Dr Reddy’s shares crash 9% after weak Q1 results. Here’s why these 3 brokerages are bearish on the stock
The company reported an EBITDA of Rs 201 crore and a PAT of Rs 142 crore. The earnings per share (EPS) were reported at Rs 10.77 per share, registering 22% yearly growth. Cash and cash equivalents were recorded at Rs 1197 crore post dividend payout of Rs 79.6 crore.
“Q1 FY27 is a strong start to the year. Revenue grew 17.8% YoY, with gross profit and EBITDA growing even faster, reflecting an improving quality of growth. Our objective isn’t revenue growth at any cost; it’s profitable growth that consistently converts into cash,” said Uday Reddy, Founder Chairman & CEO.
Our priorities for Q2 are specific: sustain revenue momentum, improve gross-margin quality, convert customer opportunities into billed revenue, maintain discipline on costs, and strengthen collections and cash conversion, Reddy further said.
According to the management, Enterprise Communications contributed 91.6% of revenue in Q1 FY27. Revenue grew 4.5% QoQ and 18.4% YoY to Rs 1,123 crore. Sequential and YoY growth was primarily driven by higher wallet share within existing customers.”We continue to execute on three growth priorities: new customer acquisition across India and international markets, expanding wallet share within existing customers, and driving adoption of omnichannel solutions across SMS, WhatsApp and RCS,” management further said.
Higher wallet share within the existing customer base continued to drive growth. Customers with annualised revenue above Rs 1 crore grew 4.5% QoQ and 16.7% YoY to Rs 1180 crore. Within this cohort, the Rs 10– Rs 50 crore segment grew 10.8% QoQ and 43.9% YoY to Rs 433 crore, while the above Rs 5 crore segment grew 1.6% QoQ and 5.4% YoY to Rs 526 crore.
Indirect cost decreased by Rs 1 crore sequentially, as higher employee costs and other expenses partially offset lower forex losses.
Employee costs increased due to annual increments and variable pay, partially offset by the reversal of performance-linked RSUs. Forex losses declined by Rs 9.1 crore, as the US Dollar appreciated by 0.91% against the Rupee in Q1 FY27, compared with 4.26% in Q4 FY26.
In the past three months, the shares of Tanla Platforms went up 29.24%, and in the last six months, they rose 34.35%. In the current calendar year so far, the shares went up 24.31%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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