“Obviously it’s a concern because our chief business cost on a day-to-day basis is fuel. I think we’re headed for pretty tough times ahead,” Allis said.

He added at least 50% of the calls he receives are requests for quotes, as customers compare his pricing with other services, such as Uber.

“We’re under a continual pressure to lowball ourselves and do prices we were doing 15 years ago, even though fuel prices are at an all time high,” he said.

“It’s just a complete nightmare in that respect.”

Susannah Moffat, who runs Ledbury Road Services in Tewkesbury, Gloucestershire, said “the last thing we want is to lose more trade” by putting the prices up.

“The only thing we can do is keep cutting our margin, time and time again, to try and keep the price increases to a minimum,” she said.

Moffat said the petrol station was now “relying” on income from shop sales instead.

“It’s a difficult business to be in at the moment. Seems like there’s no end in sight really, but hopefully it won’t be forever,” she added.

According to a regulatory filing on the BSE, the company has signed multiple MoUs with leading Indian PSUs such as NTPC Mining (NML), RITES, IOCL, Coal India, Oil India, and GAIL, to expand HCL’s mining portfolio and strengthen India’s mineral security.

It has also entered a global partnership with CODELCO, Chile for capacity building, knowledge sharing, and expertise in mining, beneficiation, and exploration. The company has added 154.14 million tonnes of copper ore reserves/resources in the last 4 years, and is pursuing new copper deposits in India and overseas.

Copper price today

Copper prices rose on Tuesday, as strong demand in top consumer China pushed the metal back towards its record high.
The gains marked a rebound after a brief pullback in a broader rally over recent months. Prices had drawn support from concerns that a possible US tariff on refined copper imports would pull more metal into US warehouses.

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Benchmark three-month copper on the London Metal Exchange was up 0.61% at $14,750.5 a metric ton by 0300 GMT, rising for a sixth straight session.
Copper prices had hit a record high on September 7 as the prospect of shortages outside the U.S. had fuelled buying. After Trump’s copper tariff threat, prices went up as traders tried to store copper in the US ahead of the introduction of tariffs.However, Trump went ahead with imposing tariffs on copper products but not on refined metal. In July, Trump issued a proclamation calling for a follow-up report from the Commerce Secretary before deciding whether to impose a phased tariff on refined copper imports, starting at 15% in January 2027. The market may still be pricing in the possibility of tariffs being introduced on copper imports.

Hindustan Copper share price

Shares of Hindustan Copper have declined 3% in the last three months and over 12% in the year so far. However, the stock has delivered over 13% gains in the last three years, and over 26% gains in the last five years.

Disclosure: “This article has been written by Rounak Khare, who is not a SEBI-registered Research Analyst or an Investment Adviser. Rounak Khare and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.”

This article explains how the regime works, when it can be useful, and what British entrepreneurs should consider before the rules change in 2027.

How Malta’s 15% tax regime actually works

The first point to understand is that the 15% rate does not apply to all of a resident’s income. It usually applies to foreign-source income that is remitted to Malta. Other chargeable income, including locally sourced income, is generally taxed at 35%.

The system also uses a remittance basis. A person who is resident but not domiciled, or not ordinarily resident in Malta, is taxed on local income and on foreign income brought into the country. Foreign income that remains abroad is outside the tax charge.

Foreign capital gains are treated differently. Under the remittance basis, gains arising abroad are not taxed even when the proceeds are brought into Malta. This distinction between income and capital gains can make a major difference, so each source of funds needs to be classified correctly.

The 15% rate is available through several programmes, including the Global Residence Programme, the Residence Programme, and the Malta Retirement Programme. Each has its own eligibility rules and conditions.

Under the Malta Global Residence Programme, beneficiaries must pay at least €15,000 in tax each year. This means that if 15% of foreign income produced a €9,000 tax bill, the €15,000 minimum would still apply.

What the 15% regime means for international business owners

Entrepreneurs often receive income from several countries and in different forms. A founder may own a UK company, receive dividends from abroad, hold an investment portfolio, and rent out property overseas. Under Malta’s special tax regime, the treatment depends on where the income arises, what type of income it is, and whether it is received in Malta.

Common examples include:

1. Dividends from overseas companies. Foreign dividends received in Malta can qualify for the 15% rate if the relevant conditions are met.
2. Investment income. Foreign interest and other qualifying investment income may also fall within the 15% rate when received in Malta.
3. Overseas rental income. Rent from property abroad may qualify as foreign-source income and benefit from the special rate.
4. Business income. The treatment depends on where the income arises. Registering a company abroad does not automatically make all payments from it foreign-source income.
5. Malta-source income. Income arising in Malta does not qualify for the 15% rate and may instead be taxed at 35%.

British entrepreneurs must also consider their UK tax position separately. Obtaining residence or special tax status in Malta does not automatically make someone non-resident in the United Kingdom. UK tax residence is determined under the Statutory Residence Test, which considers factors such as time spent in the UK, work, and other connections.

How the Global Residence Programme provides access to the regime

The Malta Global Residence Programme is open to people who are not nationals of the EU, EEA, or Switzerland, which makes eligible British citizens potential applicants. It provides access to special tax status, but applicants must also meet financial, personal, and residence requirements.

Property requirement. The minimum purchase price is €275,000 in most of Malta and €220,000 in the south of Malta or Gozo. Alternatively, applicants can rent for at least €9,600 a year in most areas or €8,750 in the south or Gozo. A rental agreement must run for at least 12 months, and the property must serve as the applicant’s principal place of residence.

Administrative fee. Applicants must pay a non-refundable fee of €6,000. It is reduced to €5,500 for those who buy property in the south of Malta.

Tax and finances. Beneficiaries must pay at least €15,000 in tax each year and show stable and regular resources sufficient to support themselves and their dependants. To keep the special tax status, they must not spend more than 183 days in any other single jurisdiction during a calendar year.

Personal requirements. Applicants need a valid travel document and health insurance covering themselves and their dependants across the EU. They must also be able to communicate adequately in English or Maltese and pass fit-and-proper checks, including providing a police conduct certificate.

Family members. Family members, including spouses, as well as principally dependent children under 25, siblings, parents, and grandparents, can join the application. This makes the GRP relevant to entrepreneurs planning residence for both themselves and their families.

The combination of tax, property, and ongoing residence requirements means that suitability should be assessed as a whole rather than on the 15% rate alone.

What is changing in 2027

Malta is restructuring its special tax programmes. Legal Notice 195 of 2026 introduces the Individual Tax Programme Rules, which take effect on January 1st, 2027, and bring several existing programmes under a single framework. The new system will include Global Resident Status for the group currently covered by the Global Residence Programme.

Under the new framework, qualifying foreign-source income received in Malta will continue to benefit from the 15% rate, while other non-qualifying income is taxed at 35%. However, the financial thresholds will become substantially higher.

For Global Resident Status, the minimum annual tax will rise to €35,000. New applicants will also face a property threshold of €700,000 for a purchase or €14,000 in annual rent, as well as an €8,500 application fee. The new special tax status will be granted for 5 years and can be renewed.

The new rules will also narrow the definition of dependants. Under the current requirements, principally dependent parents, grandparents, and siblings can be included in the application. Under the 2027 framework, the dependant category is more limited and focuses mainly on a spouse or partner and children. This makes the new regime less flexible for families.

Timing therefore matters for people considering applying under the current Global Residence Programme. Existing beneficiaries and people who submit applications by December 31st, 2026, can remain under the existing framework until December 31st, 2031, subject to the relevant conditions.

Conclusion

Malta’s 15% tax treatment can be relevant to British business owners with international income, but the current Global Residence Programme rules will not remain unchanged for long. Prospective applicants should compare the existing framework with the 2027 rules before deciding when to apply.

Contact Immigrant Invest to assess whether the programme fits your residence and tax planning goals.

More than two dozen Democratic lawmakers are calling on President Donald Trump to maintain existing restrictions that effectively keep Chinese automakers and keep them out of the U.S. market ahead of his meeting with Chinese President Xi Jinping.

Trump is scheduled to meet with Xi on Thursday in Washington, where they are expected to discuss their trade agreement, AI, the conflicts in Ukraine and the Middle East and other key geopolitical issues.

Rep. Debbie Dingell, D-Mich., is leading a group of 27 lawmakers in pressuring Trump to preserve the U.S. restrictions on Chinese cars and vehicle technology.

TRUMP TO DECIDE WHETHER TO GREEN LIGHT US-CHINA ARTIFICIAL INTELLIGENCE ‘HOTLINE’ AGREEMENT: SOURCES

More than two dozen Democratic lawmakers are calling on President Donald Trump to maintain a ban on Chinese automakers. (Brendan Smialowski – Pool/Getty Images / Getty Images)

“We urge you to maintain strong protections against Chinese automobiles and connected vehicle technologies and ensure that China does not gain access to our market through direct imports, local production, and other avenues of circumvention,” the lawmakers wrote.

Dingell also issued a video message on social media on Monday in which she said she is working to protect U.S. auto manufacturing and ensure Trump cannot “make any deal that allows China into our country where they’re categorically not competing on a level playing field.”

“The communist Chinese government subsidizes its production by more than 50% of the cost,” she said. “They manipulate their currency, they use slave labor and now they want a foot in the door of our domestic auto industry, and they will try to destroy it. This year already China has exported more than 6.2 million passenger vehicles from China. That exceeds their total passenger vehicle exports for all of 2025, and now they’re coming for North America. Our workers are the best workers in the world, and they can compete with anyone when the game isn’t rigged and the risks extend far beyond just economic competition.”

President Donald Trump is expected to discuss trade, artificial intelligence and other geopolitical issues during Thursday’s meeting with Chinese President Xi Jinping. (Lintao Zhang / Getty Images)

“Today’s vehicles are supercomputers that are moving and collecting and transmitting all kinds of data. You don’t even think about it when you’re an autonomous vehicle. They’re getting all the data that’s in your personal iPhones, your computers and they drive by military installations or other companies and they are collecting data. That’s a national security threat,” the lawmaker continued.

Dingell said she introduced bipartisan legislation that has the support of a hundred of her congressional colleagues to ban China from “destroying our auto industry.”

“That’s why I reacted so viscerally when I heard the president say he would let China manufacture vehicles in the United States,” she said.

TECH POWER PLAYERS LAND SEAT AT TABLE FOR HIGH-STAKES DINNER WITH TRUMP, XI

Rep. Debbie Dingell is leading a group of 27 lawmakers in pressuring President Donald Trump to preserve U.S. restrictions on Chinese cars and vehicle technology. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

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“Let me be very clear: it’s not okay. American workers need our protection from anyone who will use unfair practices, wants to destroy our jobs and raise costs for everyone. I will always stand with the American worker and the manufacturing industry in these countries to protect jobs, our economy and our national security,” Dingell said.

The congresswoman appeared to be referring to Trump telling Fox News earlier this month that he would accept Chinese auto companies building cars in the U.S.

Reuters contributed to this report.

A Canadian province is suing OpenAI over its alleged failure to notify authorities about concerning user interactions on ChatGPT prior to the Tumbler Ridge mass shooting.

The company has previously apologised for not flagging Jessie Van Rootselaar’s account to law enforcement before the 18-year-old killed eight people, including six children, in February.

British Columbia attorney general Niki Sharma said the lawsuit, filed to a US federal court on Monday, raised questions about “the responsibilities of technology companies when they become aware of credible threats of serious violence”.

Families of those killed or injured in the shooting have filed separate lawsuits against OpenAI.

Media reports revealed that Van Rootselaar’s ChatGPT activity was flagged by OpenAI’s safety team for references to gun violence months before the attack, but the company did not alert local authorities.

In April, OpenAI’s chief executive Sam Altman apologised to the families of the victims.

“I am deeply sorry that we did not alert law enforcement,” Altman wrote in an open letter.

The BBC has requested comment from OpenAI regarding the latest lawsuit.

“To date, OpenAI has not taken meaningful steps to address the concerns raised by survivors, families and the Tumbler Ridge community,” Sharma said in a statement.

“The company still has an opportunity to demonstrate accountability by strengthening safeguards, improving transparency and taking concrete action to help prevent similar tragedies in the future.”

Speaking to reporters on Monday, Sharma said she had not read the contents of the OpenAI chats.

“We have asked OpenAI to disclose these chats. They have refused. We should all be asking them: Why?” she said, according to CBC, external.

Sharma said the lawsuit was filed in California, as the alleged decision not to report the shooter’s ChatGPT account occurred in that US state, according to AFP.

Sharma told reporters that any financial damages won by the province would go towards rebuilding the secondary school.

Maye Musk, the model and dietitian who is also the mother of Tesla and SpaceX Chief Executive Officer Elon Musk, said in a new podcast appearance that her son harbors a genuine, long-term ambition to eventually live on Mars, offering a glimpse into what she described as his broader thinking behind SpaceX’s mission.

Speaking on the Power Players podcast with Yahoo Finance Executive Editor Brian Sozzi, Maye Musk described her son’s ambitions in direct terms. “I think he really would like to live in the city of Mars,” she said. “That’s what he’s saying. But, you know, I can’t say what’s going on in his mind because he comes up with these amazing thoughts.”

Maye went on to describe an earlier moment that she said illustrated the kind of reasoning behind her son’s space ambitions more broadly, recalling a conversation about SpaceX’s satellite technology. “When he said to me, ‘I’m going to send satellites into space,’ and I said why,” Maye recounted, “he said, ‘If you’re stuck in the middle of an ocean or in the middle of a forest or on top of a hill and you are injured and you can’t contact anyone, then you will die.’ So he wants to prevent this.”

The podcast appearance came as Maye Musk promotes her new memoir, “Timeless: The Art of Reinvention and Resilience at Any Age,” which offers what she has described as a candid account of the personal hardships and career pivots that have shaped her life, from her early years working as a registered dietitian to her later, unlikely rise to prominence as a world-renowned model well into her 60s and 70s.

The book details Maye’s experience navigating serious financial instability after leaving an abusive marriage to Errol Musk, Elon’s father, and the years she spent raising her three children, Elon, Kimbal and Tosca, largely on her own as a working single mother while simultaneously building a private nutrition practice to support the family.

Maye Musk began modeling at age 15 in South Africa, balancing print campaigns with her academic studies at the time. She went on to earn two master’s degrees, in dietetics and nutritional science, before eventually building a career that combined both her scientific training and her modeling work. Rather than fading from the industry as she aged, a common pattern in modeling, Maye’s career experienced a second wind after she turned 60 and began embracing her natural silver hair, a shift that ultimately propelled her to a level of prominence in the industry that exceeded much of her earlier career. She went on to become a CoverGirl brand ambassador at age 69 and later appeared on the cover of the Sports Illustrated Swimsuit issue at age 74, milestones widely cited as breaking longstanding age barriers within the modeling industry.

Beyond discussing her own career and memoir, Maye Musk also addressed the public scrutiny that regularly surrounds her son, saying she believes much of the public misunderstands him, a perspective she acknowledged comes naturally from her position as his mother. She has become known for defending Elon publicly on social media platform X when she feels he is being unfairly criticized. “If you did have one [a kid] and somebody’s insulting them when they’re doing good, you would come down on them like crazy,” Maye said. “I try to be as nice as I can, but you don’t insult my kids.”

Elon Musk’s ambitions for Mars have long been central to SpaceX’s stated mission, with the company founded in part around the long-term goal of making human life multiplanetary. SpaceX has continued advancing its Starship program in recent years as part of that broader ambition, with the vehicle intended to eventually serve as the primary spacecraft capable of transporting large numbers of people and cargo to Mars. Maye’s comments offer a more personal, family-level window into how her son talks about that ambition privately, distinct from the more formal public statements Elon has made about SpaceX’s mission over the years.

Maye’s own career trajectory, marked by a series of significant reinventions across dietetics, single motherhood and eventually a second act in modeling later in life, forms the central narrative of “Timeless,” which she has framed as a broader statement about the possibility of reinvention at any age rather than solely a memoir about her relationship with her famous children. Even so, her connection to Elon and his siblings, Kimbal, a restaurateur and entrepreneur, and Tosca, a filmmaker, remains a significant part of the public interest surrounding both the book and her media appearances promoting it.

With Elon Musk continuing to lead Tesla, SpaceX, X, the Boring Company and Neuralink, in addition to his earlier role co-founding PayPal, Maye’s comments about his long-term Mars ambitions add to a growing public record of family reflections on what continues to drive one of the world’s most closely watched entrepreneurs, even as SpaceX’s own timeline for any eventual crewed Mars mission remains a subject of ongoing speculation and revision within the space industry.

Legendary video game designer Hideo Kojima has publicly described the abrupt end of his decades-long publishing relationship with Sony, saying the company informed him it was walking away from his upcoming stealth-action game “Physint” during a June video call and never offered a reason for the decision.

Speaking to The Washington Post through an interpreter, Kojima said he was “shocked and surprised” by Sony’s decision, which was made public earlier this month. A Sony Interactive Entertainment representative delivered the news during a June video call attended by Kojima, his translator Aki Saito, and Kojima Productions president Shinji Hirano, according to reporting on the meeting. Kojima had been partnered with Sony since leaving Konami and founding his own independent studio more than a decade earlier, making the sudden end of that relationship especially unexpected.

In a separate interview with IGN, Kojima elaborated further on what happened during the call, describing it as Sony’s “final notice” on the project. Asked whether Sony had since offered any explanation for pulling out of “Physint,” Kojima was direct. “No, not at all. They haven’t contacted me ever since,” he said. Kojima acknowledged he did not press Sony extensively for reasons during the call itself, saying his attention shifted immediately to the practical implications for his studio rather than the rationale behind the decision. “I didn’t have any anger or sadness,” Kojima said, describing his reaction to the news. “I was just thinking, ‘What should I do?’ It’s a big problem for us and I couldn’t tell staff at the time…. We’re an independent studio. That means if they can’t fund us, our studio could collapse.”

Kojima Productions had already hired staff specifically to work on “Physint,” a stealth-action game featuring actor Bill Skarsgård that has been positioned as a spiritual successor to Kojima’s earlier “Metal Gear” series. With Sony’s backing suddenly gone, Kojima said his studio spent roughly three months searching for a new publishing partner before ultimately landing at Microsoft’s Xbox division, which was already working with Kojima Productions on a separate horror title, “OD,” developed in collaboration with filmmaker Jordan Peele. Kojima said the decision to go with Xbox came after approaching several potential partners and receiving positive initial responses from multiple companies, with Microsoft’s gaming division ultimately winning out due to the comprehensiveness of its offer.

Despite the abrupt and unexplained end of a professional relationship spanning roughly three decades, one that included the launch of both “Death Stranding” and its sequel, “Death Stranding 2: On the Beach,” as PlayStation exclusive titles, Kojima said he holds no grudge against Sony. He described the situation as amicable rather than adversarial, stressing that the two sides are “not in a dispute,” even as he acknowledged he would have preferred more advance warning before the relationship came to an end.

The split drew additional scrutiny after Bloomberg reported, citing unnamed sources familiar with the matter, that Sony’s decision was driven by concerns that “Physint” was falling behind schedule and on pace to significantly exceed its budget, along with concerns that “Death Stranding 2” had missed PlayStation’s internal revenue expectations. Kojima Productions pushed back directly on that account in a written statement issued Sunday, urging readers to treat the Bloomberg report “with a dose of scepticism.” The statement sought to reassure fans and industry observers about the studio’s underlying financial position. “Make no mistake, this was a serious situation for the studio with a range of potentially significant implications,” the studio said. “While we recognise that the article may have caused alarm, we want to reassure you all, for the record: that the studio is in a healthy, profitable state, development for Physint continues to move forward with Xbox, and our relationship with PlayStation remains strong.”

Kojima’s IGN interview was reportedly conducted before Bloomberg’s report on the budget and scheduling concerns was published, meaning his account of the Zoom call itself was not offered as a direct response to those specific allegations. Even so, Kojima has continued to maintain publicly that he does not consider the split with Sony to be adversarial, despite the lack of explanation he says he received.

Whether “Physint” will ultimately be exclusive to Xbox platforms, similar to Kojima Productions’ earlier horror title “OD,” or will also become available on PlayStation systems remains an open question. According to Kojima, that determination now rests with Microsoft rather than with his own studio, given Xbox’s position as the project’s new publishing partner.

The unusual circumstances surrounding the split, an unexplained decision delivered over video call, followed by conflicting public accounts of the underlying reasons, have made the Kojima-Sony breakup one of the more closely watched stories in the video game industry this fall. For Kojima, a designer whose name has become closely associated with PlayStation exclusives dating back to the original “Metal Gear Solid” series, the sudden pivot to a new publishing partner marks a significant shift in a relationship that had, until this year, defined much of his post-Konami career as an independent studio head.