Gold, silver and platinum hit record highs as investors look for Santa rally; BP to sell stake in Castrol for $6bn – business live

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Gold has climbed over the $4,500 per ounce mark for the first time ever, on the final trading day before Christmas.As investors look for signs of a Santa Rally today, bullion has risen as high as $4,525 per ounce. Gold has risen for 11 of the last 12 days, taking its gains in 2025 to over 70%, its best year since 1979.There’s a general frenzy in the precious metals market

Bitcoin’s buzz is gone. Investors chose real gold in 2025 | Nils Pratley

Another week, another record high for the price of gold. And another blow to the bitcoin fan club’s hopeful thesis about owning “digital gold”. This year has been hard for the bitcoin brigade: while real gold soared in value, their cryptocurrency didn’t. Correlation went out of the window. Gold is up 70% so far in dollar terms; bitcoin is down 6%

‘A gamechanger’: 200,000 UK small businesses sign up to TikTok Shop

It is better known for its viral dances and for making hits out of forgotten songs, but the social media site TikTok is becoming a force to be reckoned with as a shopping platform.Major retailers such as Marks & Spencer, Samsung, QVC, Clarks, and Sainsbury’s are now selling their wares on the site’s e-commerce service, TikTok Shop, alongside more than 200,000 UK small and medium businesses.Launched in Britain in 2021, TikTok Shop recorded its biggest sales day in the UK on Black Friday, with 27 items sold every second. Across the Black Friday and Cyber Monday period, sales were up by 50% on last year.The service works by letting brands sell directly inside TikTok through videos and livestreams with embedded links to items for sale, as well as through a separate shop tab on their profiles

Former EU commissioner and activists barred from US in attack on European tech regulators

The state department has barred five Europeans from the US, accusing them of leading efforts to pressure tech firms to censor or suppress American viewpoints, in the latest attack on European regulations that target hate speech and misinformation.Secretary of state Marco Rubio said the five people targeted with visa bans – who include former European Commissioner Thierry Breton – have led “organized efforts to coerce American platforms to censor, demonetize, and suppress American viewpoints they oppose.”“These radical activists and weaponized NGOs have advanced censorship crackdowns by foreign states – in each case targeting American speakers and American companies,” Rubio said in an announcement.In recent months, Trump officials have ordered US diplomats to build opposition to the European Union’s landmark Digital Services Act (DSA), which is intended to combat hateful speech, misinformation and disinformation, but which Washington says stifles free speech and imposes costs on US tech companies.Late on Tuesday night, Breton posted on social media: “Is McCarthy’s witch hunt back?”Tuesday’s move is part of a Trump administration campaign against foreign influence over online speech, using immigration law rather than platform regulations or sanctions

Harry Redknapp eyes King George glory in ‘Champions League’ of racing

FA Cup-winning manager and former King of the Jungle has live hopes of landing the big Boxing Day prize at Kempton with Jukebox ManHe has been a professional footballer, an FA Cup-winning manager and the King of the Jungle over the storied course of the past 60 years, but as Harry Redknapp talked about The Jukebox Man, his King George VI Chase contender, at Ben Pauling’s stable last week, he was the East End kid whose nan was a bookie’s runner and would be astonished to see where life and luck have taken her grandson.“She wouldn’t believe it,” Redknapp says, suddenly back in Poplar in the 1950s. “It’s a far cry from the East End of London, [when she was] getting slung in the back of a police van every other day for collecting the bets.“People forget there were no betting shops, betting was totally illegal, so the only way you could have a bet was through an illegal bookmaker. Cyril the paperboy, he wasn’t a boy, he was about 70, but everyone still called him the paperboy

Trump loomed over sport like never before in 2025. Next year he will take even more

From the Super Bowl to UFC cards to the US Open to the Ryder Cup, the US president has turned sport into his own personal stage. There’s more to comeConsidering he’s the self-declared hardest working president to ever hold the office, Donald Trump has spent a remarkable amount of the past year on down time. In 2025, he loomed over sports like no American politician before him, his visits to stadiums and arenas and golf courses and race tracks so frequent they began to feel like part of the job. But if Trump’s presence on the sporting scene has seemed hard to escape, gird yourselves for 2026, when the American presidency no longer merely intersects with sport but threatens to subsume it. The World Cup is on the way, the Olympics are right behind it, a UFC card is coming to the White House lawn (not a joke) and the commander-in-chief’s well-documented fondness for jumbotrons is becoming less of a habit than a dependency