Monday newspaper round-up: Electric cars, Richard Caring, Starbucks

(Sharecast News) - Ministers are planning to fundamentally reshape Britain's relationship with the European Union, with new legislation that could result in the UK signing up to EU single market rules without a normal parliamentary vote. In a major development in the prime minister's push for closer ties with the continent after the Iran war, the Guardian understands ministers are bracing to face down opposition to "dynamic alignment" with the EU from those who "scream treason" over the powers in a new EU-UK reset bill. - Guardian Car buyers' interest in electric cars has surged across Europe since the start of the war in Iran, as the rising cost of petrol highlights the cheaper power available from a plug. Online marketplaces in the UK, Germany, France and Spain reported huge increases in inquiries about electric vehicles since the start of the conflict in February. - Guardian

Richard Caring has struck a £1.4bn deal to sell his Ivy restaurant empire to an Abu Dhabi sheikh. The restaurateur, dubbed the "King of Mayfair", has sold a majority stake in his hospitality company to a group controlled by Sheik Tahnoun bin Zayed Al Nahyan, an Abu Dhabi royal known as the "spy sheikh". The deal, which values the company at more than £1.4bn, also includes the private members' club Annabel's and Mayfair staple Scott's. - Telegraph

Starbucks has blamed higher jobs taxes and minimum wage under Labour for mounting losses at its UK business. The US coffee chain said "changes to minimum wage and employer National Insurance contributions" had put pressure on its profit margins as operating losses widened from £27.5m to £29.8m. Staff costs rose from £118m to £129m in the year to October 2025, even as the UK business cut more than 200 jobs to take its headcount to just over 5,320. - Telegraph

The war in Iran has prompted British businesses to scale back investment and hiring, with corporate optimism having sunk to levels not seen since the first coronavirus lockdown. As soaring energy costs raise concerns about inflation and interest rates, finance chiefs have become more defensive, preferring to conserve cash rather than invest, two closely watched surveys show. - The Times

GSK has unveiled "extremely exciting" results of early trials for a potential blockbuster new gynaecological cancer drug that it hopes to fast-track to the market within the next few years. The pharmaceuticals giant said that it was moving swiftly to launch five large-scale global trials of the Mo-Rez drug after it showed strong results in both ovarian and endometrial cancer, giving hope to thousands of women with hard-to-treat disease types. - The Times