Business

Britain’s heavy reliance on China for net zero technologies such as batteries could put as many as 90,000 manufacturing jobs at risk in the event of a major supply chain shock, according to a new report.

Analysis by the Institute for Public Policy Research (IPPR) warns that a severe disruption to battery component supplies, lasting as little as a year, could cripple the UK’s automotive industry, sharply reducing electric vehicle production and threatening factory jobs across the country.

The report models a scenario in which geopolitical conflict, such as a crisis over Taiwan, or a natural disaster disrupts Chinese battery manufacturing and processing. In that event, UK battery and car production could fall by nearly half, with widespread knock-on effects across supply chains.

Researchers estimate that around 67,000 jobs in EV manufacturing, 8,000 in battery production and almost 15,000 roles across the wider battery supply chain would be placed at risk, taking the total to roughly 90,000 jobs.

The IPPR argues that China’s dominance of battery materials and components gives Chinese electric vehicle manufacturers a built-in advantage over UK and European rivals, particularly during periods of disruption.

China is the world’s largest producer of batteries and battery inputs, including refined lithium, cathodes and anodes. Even where the UK sources battery cells from Europe or Japan, the report notes that many of those manufacturers themselves rely on Chinese raw materials, leaving Britain indirectly exposed.

By 2030, the IPPR estimates that 47% of UK battery cell demand will still be met through imports. For cathodes, that figure rises to 80%, while anodes are expected to be entirely imported. In the event of a supply interruption, battery output could fall by 50%, resulting in around 583,000 fewer electric vehicles being built in a single year.

Pranesh Narayanan, research director at the IPPR, said the UK’s exposure reflects the growing fragility of global trade.

“The UK is a small open trading nation sailing through an international economy whose waters are getting choppier by the day,” he said. “Trade wars, geopolitical conflict and global shocks ultimately hurt the UK because we rely so heavily on overseas supply chains for essentials, including clean energy technologies.”

To reduce the risk, the IPPR is urging ministers to accelerate domestic production of key battery components and critical minerals, while also diversifying international supply chains away from overdependence on any single country.

The report suggests encouraging joint ventures between UK firms and Asian manufacturers, alongside targeted industrial support to build resilience into the supply chain.

Laura Chappell, a researcher at the IPPR, said that economic resilience should become a core objective of British foreign and industrial policy.

“Diplomats should be working to build partnerships that underpin Britain’s future energy security,” she said. “These can be win-wins, supporting jobs and growth both in the UK and in partner countries.”

The findings are likely to sharpen debate in Whitehall over the national security implications of the net zero transition. A separate report last year by the Royal United Services Institute warned that excessive reliance on China for clean energy technologies posed strategic risks.

Energy Secretary Ed Miliband has faced criticism from Conservatives, who argue that his push for a fully decarbonised electricity system by 2030 risks “binding Britain to Beijing” through increased use of Chinese solar panels and batteries.

The government has previously rejected that characterisation, insisting it will “never compromise national security” and arguing that the greater long-term risk lies in continued reliance on volatile fossil fuel markets dominated by authoritarian states.

However, the IPPR report adds fresh urgency to calls for a more muscular industrial strategy, warning that without decisive action, Britain’s net zero ambitions could leave key sectors of its manufacturing base dangerously exposed.

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Net zero reliance on China ‘puts 90,000 UK jobs at risk’, think tank warns

The government is to roll out a new £1bn-a-year support scheme designed to give people on low incomes direct access to emergency cash when they face sudden financial shocks.

The Crisis and Resilience Fund, which launches in April, will run for an initial three years and replace the temporary Household Support Fund that has been extended repeatedly since its introduction during the pandemic in 2021.

Under the new scheme, individuals will be able to apply for emergency payments through their local council, regardless of whether they are in receipt of benefits. Councils will be able to award cash support in cases such as a sudden loss of income, redundancy, an unexpected bill like a broken boiler, or where early intervention could prevent someone from falling into deeper financial crisis.

The fund represents a shift in how crisis support is delivered. Unlike previous schemes that relied heavily on vouchers, food parcels or referrals to food banks, councils will now be explicitly encouraged to provide cash payments. Ministers hope this will help meet a manifesto pledge to reduce what they describe as “mass reliance on emergency food parcels” by giving households greater flexibility and dignity in how support is used.

The Department for Work and Pensions has set out guidance allowing councils to use the funding in three broad areas: immediate crisis payments, housing-related support where there is a sudden shortfall, and longer-term resilience services, including funding for charities and local organisations that provide frontline assistance.

Although the overall level of funding broadly matches the previous Household Support Fund, some councils have expressed concern that it will not be enough to meet rising demand. A recent survey by the Local Government Association found most councils in England do not believe current funding levels are sufficient to cover local welfare needs, particularly as cost-of-living pressures persist.

However, the commitment to provide guaranteed funding for at least three years has been welcomed by local authorities and charities, as it allows councils to plan their support programmes more effectively rather than relying on short-term extensions.

Emma Revie, co-chief executive of Trussell Trust, said the new fund marked an important step forward. She said it could help ensure fewer people are forced to rely on food banks simply to get by.

Children’s charity Barnardo’s also welcomed the move towards cash-first support. It said enabling councils to provide direct payments, rather than vouchers or parcels, would give families greater agency and choice at times of crisis.

Some councils are already using similar approaches, distributing funds via Post Office cash vouchers or digital “pay-by-text” systems that allow people to withdraw money from cash machines quickly.

The new guidance gives councils flexibility in how they divide funding between crisis payments, housing support and resilience services, but they will be required to publish how the money will be used and open applications to the public by 1 April.

Equivalent funding will be allocated to Scotland, Wales and Northern Ireland, with devolved administrations free to decide how the money is spent in their own areas.

Minister for Employment Dame Diana Johnson said the fund would give councils the certainty they need to intervene early and prevent families from being pushed into crisis. She said the aim was to provide fast, practical help at the point people need it most.

Read more:
Government to give cash payouts to people in financial crisis

Soho House has secured fresh financing to complete its $1.8 billion take-private deal, stabilising a transaction that had been thrown into doubt just weeks ago.

The London-based private members’ club group said it has now locked in alternative funding to replace a $200 million shortfall, clearing the way for a consortium led by MCR Hotels to complete the acquisition.

In a regulatory filing, Soho House confirmed that Morse Ventures, owned by Tyler Morse, chief executive of MCR Hotels, will provide a $50 million equity commitment. MCR itself will also contribute a further $50 million in equity under its original agreement.

The remaining funding has been secured through changes to the group’s debt structure and shareholder arrangements. Soho House has amended its financing package with Apollo and Goldman Sachs, increasing its senior unsecured notes facility to $220 million from $150 million. As part of the restructuring, Apollo’s equity commitment has been reduced from $50 million to $30 million.

The final $50 million gap was bridged after major shareholders agreed to roll over their equity rather than take cash, reducing the total funding required to complete the deal.

The revised structure follows a turbulent period for the company. Earlier this month, Ron Burkle’s investment firm Yucaipa disclosed that MCR, previously a cornerstone backer, would not be able to deliver its full equity commitment by the expected closing date. That announcement sent Soho House shares tumbling by almost 10 per cent and raised questions over whether the transaction would collapse.

The takeover was agreed in August, when a group of investors led by MCR Hotels offered $9 per share to take Soho House private, valuing the business at $1.8 billion. The consortium agreed to acquire the shares not already held by four major shareholders, who chose to roll over their existing stakes.

Those rolling over include Nick Jones, who owns around 6 per cent of the business, restaurateur Richard Caring, and Goldman Sachs Alternatives, which is also committing additional capital. Actor-turned-investor Ashton Kutcher is also part of the investor group.

Founded 30 years ago, Soho House has expanded to 46 clubs worldwide but has struggled as a listed business since floating in New York in 2021 at $14 a share. The stock has fallen close to 30 per cent over five years, reflecting tougher economic conditions and investor concerns that the brand’s once-distinctive sense of exclusivity had begun to erode.

With funding now secured, the company said it intends to proceed to completion, marking the end of a volatile chapter as a public company and a return to private ownership.

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Soho House secures funding to complete $1.8bn takeover deal

The BBC is close to agreeing a landmark partnership with YouTube, signalling a significant strategic shift as the public broadcaster looks to reach younger audiences on the platforms they increasingly favour.

Under the proposed arrangement, the BBC would create original, bespoke programmes designed specifically for YouTube, with the option for successful formats to later migrate to its own platforms, including BBC iPlayer and BBC Sounds. The move is intended to ensure the corporation remains relevant to future generations of licence fee payers as viewing habits continue to fragment away from traditional television.

The plans were first reported by the Financial Times and subsequently confirmed to industry title Deadline by a source briefed on the discussions. An announcement could come as early as next week. The BBC declined to comment.

While the BBC has maintained a strong presence on YouTube for more than two decades, it has never previously commissioned content exclusively for the platform. Its main YouTube channel, which has more than 15 million subscribers and almost 12 billion views, largely hosts trailers and clips from existing programmes such as The Traitors. BBC News has been active on YouTube since 2006 and regularly publishes longer-form video content, attracting an audience of around 19 million subscribers.

Details of how any original YouTube programming would be funded remain unclear. The BBC does not carry advertising in the UK, but the Financial Times reported that the broadcaster could monetise YouTube-only content internationally, creating an additional commercial revenue stream to supplement the licence fee.

The move would follow similar experimentation elsewhere in the sector. Channel 4 has already commissioned original documentaries and digital drama specifically for YouTube, using the platform as a testing ground for new formats and audiences.

However, the proposal is not without internal scepticism. Some within the BBC question whether YouTube originals can ever deliver a meaningful financial return, suggesting the primary motivation is audience reach rather than revenue generation.

The timing is notable. Earlier this week, Deadline revealed that YouTube had overtaken the BBC on one key audience reach metric for the first time. According to figures from ratings body BARB, YouTube reached 51.9 million UK viewers in December, compared with the BBC’s 50.8 million. While the BBC remains ahead on other measures, the milestone underlines the scale of YouTube’s challenge to traditional broadcasters.

The potential deal also lands amid growing political scrutiny of YouTube’s influence. In a keynote speech at the Royal Television Society’s Cambridge Convention last autumn, culture secretary Lisa Nandy warned that the government was prepared to intervene to ensure public service content is given prominence on the platform. YouTube has previously argued that such regulation would be premature while discussions with broadcasters are ongoing.

Juliane Althoff, partner and film and TV lawyer at Simkins LLP, said the move reflects a pragmatic recognition of changing audience behaviour. “This deal marks a strategic acknowledgement of where audiences now sit and how they consume content, particularly younger demographics, while also opening up new commercial opportunities to supplement the licence fee,” she said.

She added that any agreement would need to be carefully structured to protect the BBC’s editorial standards and long-term intellectual property. “From a legal perspective, safeguarding impartiality, accuracy and brand integrity will be critical, alongside ensuring the BBC retains control of its public service obligations and future exploitation rights.”

Read more:
BBC close to landmark deal to produce original shows for YouTube

Doubts have emerged over whether the government’s flagship 2030 clean power target can be met on time, after the UK boss of RWE admitted that several newly awarded offshore wind projects are unlikely to be operational by the end of the decade.

The German energy group was the biggest winner in the government’s latest offshore wind subsidy auction, securing five of the six contracts awarded. Ministers hailed the outcome as a major step towards delivering Ed Miliband’s ambition of a near-fully decarbonised power system by 2030.

However, speaking after the auction, Tom Glover, RWE’s UK chief executive, said it was unrealistic to expect all five projects, with a combined capacity of 6.9 gigawatts, to be generating power by that deadline.

Asked directly whether the projects would be online by 2030, Glover said: “Probably not.”

Three of the five RWE projects are contracted to begin operations in the 2030–31 financial year, making delivery before the end of 2030 “difficult”, he said. Two of the largest schemes, located at Dogger Bank off the east coast of England, are still awaiting planning consent, with a decision recently delayed until the end of April.

Grid access is another constraint. The Dogger Bank projects are not currently scheduled to receive grid connections until October 2030, after which further commissioning time would be required before electricity could flow into the system.

Glover stressed that the precise timing should not overshadow the scale of the investment involved. “This is more than £20 billion of investment in UK infrastructure,” he said. “We shouldn’t be overly negative about whether delivery is a couple of months late.”

His comments contrast with the government’s more confident assessment. Chris Stark, head of mission control for the clean power programme, said the auction had secured almost 8.5 gigawatts of offshore wind capacity expected to be operating by 2030, describing it as “critical” to meeting the target.

The government aims for at least 95 per cent of electricity generation to come from clean sources by 2030, up from around 74 per cent in 2024. Offshore wind is central to that plan, with a target of at least 43 gigawatts of installed capacity by the end of the decade. Officials believe the latest auction would lift operational capacity to around 36 gigawatts by 2030, with further rounds still to come.

Yet the auction’s results have also highlighted broader structural challenges facing the sector, including planning delays, grid connection bottlenecks and the long lead times required for major offshore developments.

The only non-RWE project awarded a contract was the first phase of SSE’s Berwick Bank wind farm in the outer Firth of Forth, which is also not scheduled to begin generation until 2030–31, adding to concerns about delivery timelines.

RWE, already one of the UK’s largest power generators, expects total capital expenditure on its five projects to exceed £20 billion, shared with partners including KKR, which is taking a 50 per cent stake in the Norfolk projects, and Masdar, which owns 49 per cent of the Dogger Bank schemes. Other partners include Stadtwerke München and Siemens.

Glover said RWE was targeting around 50 per cent UK content across the lifetime of the projects, underlining their significance not just for decarbonisation but also for industrial investment and supply chains.

While ministers remain upbeat, the comments from RWE underline a growing tension between political targets and the practical realities of delivering complex energy infrastructure at pace.

Read more:
Offshore wind delays raise questions over Labour’s 2030 clean power target

Rachel Reeves’s carefully constructed £22 billion fiscal buffer could be eroded by as much as £14 billion as a result of policy U-turns and a sharper-than-expected fall in net migration, raising fresh questions about the durability of the chancellor’s budget strategy.

Markets initially welcomed Reeves’s November budget, which more than doubled the government’s fiscal headroom and was seen as a signal of discipline after months of concern over the public finances. However, less than two months later, analysts warn that the margin for error is already narrowing.

According to calculations by Bloomberg, a combination of softened tax measures and weaker migration-driven revenues could reduce the buffer to as little as £8 billion by the end of the forecast period.

Fiscal headroom refers to the surplus between government revenues and spending in the target year, in this case 2029–30, which Reeves must preserve under her fiscal rules. In November, the chancellor raised taxes by £26 billion, including an £8 billion multi-year extension of the freeze on income tax thresholds, lifting headroom from £9.9 billion to £22 billion.

Since then, a series of reversals has begun to chip away at that margin. Following mounting pressure from the hospitality sector — including more than 1,000 pubs symbolically banning Labour MPs, the government moved to soften planned increases in business rates for pubs, a decision expected to cost around £300 million.

Ministers have also eased proposed changes to inheritance tax on farmland, increasing the threshold at which agricultural assets are caught by the levy. That concession is estimated to cost the Treasury a further £130 million.

The largest risk to the public finances, however, comes from migration. Revised projections suggest net migration could undershoot forecasts published by the Office for Budget Responsibility by as much as 100,000 people a year. Bloomberg estimates this would reduce tax receipts by around £9 billion in 2029–30 alone, reflecting the fact that economically active migrants tend to contribute more in taxes than they consume in public services.

Additional pressure may come from defence spending. Prime Minister Keir Starmer has pledged to increase military expenditure to 2.5 per cent of GDP by 2027 and to 3 per cent in the next parliament. However, analysis reported by The Times suggests there is a £28 billion funding gap over the next four years to meet that commitment, equivalent to roughly £7 billion a year.

Despite these challenges, financial markets have so far remained relatively calm. UK government bond yields have fallen faster than those of comparable economies in recent months, reflecting investor confidence in the chancellor’s initial fiscal stance.

The question now is whether that confidence will hold if further concessions are made, or if weaker migration and higher spending commitments continue to erode the headroom that Reeves worked hard to rebuild.

Read more:
Rachel Reeves’s £22bn fiscal buffer under threat from U-turns and lower migration

A new per-mile tax on electric vehicles could deter nearly half of prospective buyers from switching to an EV, according to new research from AutoTrader, raising concerns that government policy on electric car adoption is becoming increasingly contradictory.

From 2028, drivers of electric vehicles will face a new charge of 3p per mile travelled, a move announced by Chancellor Rachel Reeves. AutoTrader’s chief executive, Nathan Coe, said the decision risked undermining years of efforts to encourage drivers to move away from petrol and diesel.

Coe described the policy as “incoherent and inconsistent” with the government’s stated ambition to accelerate the transition to electric vehicles, warning that it could slow momentum at a critical stage.

AutoTrader’s latest report, No Driver Left Behind, found that while 62 per cent of motorists are currently considering an electric car as their next vehicle, that figure falls sharply once cost and income are taken into account. Among households earning less than £40,000 a year, just 48 per cent are considering an EV, compared with 73 per cent of those with higher incomes.

Electric vehicles remain, on average, around 17 per cent more expensive than their petrol equivalents, despite falling battery costs. The research shows that purchase price, rather than charging access alone, remains the biggest barrier to adoption.

Age and location also play a significant role. While 72 per cent of drivers aged 17 to 34 say they are open to going electric, only 35 per cent of over-55s feel the same. City dwellers appear more receptive than those in rural areas, with 72 per cent of urban drivers considering an EV compared with much lower levels in more remote locations.

That finding challenges the assumption that off-street parking — more common in rural areas — automatically makes the switch easier. AutoTrader said concerns about range, charging reliability and running costs continue to influence decisions regardless of home-charging access.

Gender differences were also evident, with women around ten percentage points less likely than men to consider an EV. Concerns over charging availability and battery range, particularly for family use, were cited as key factors.

The report also found that ethnic minority motorists are more likely to consider electric vehicles, although AutoTrader noted this may partly reflect the higher proportion of these drivers living in cities, where charging infrastructure is more developed.

Ian Plummer, AutoTrader’s chief customer officer, said cost remained the defining issue. “We’re at a pivotal moment for the UK’s electric vehicle transition, but there is still a lingering wealth divide,” he said. “If lower-income households can’t access affordable electric cars, we risk creating a two-tier system where cleaner, cheaper motoring is only for those who can already afford it.”

Plummer added that the solution lies in expanding the supply of lower-priced electric models, improving transparency around battery health and addressing charging challenges for drivers without driveways.

The findings come despite strong headline growth in EV sales. According to Society of Motor Manufacturers and Traders, nearly one in three new cars sold in Britain last month was fully electric. However, 2025 was the first year in which overall EV sales failed to consistently meet the government’s annual targets, with all-electric vehicles accounting for 23.4 per cent of new registrations.

Manufacturers that fall short of mandated EV sales thresholds face financial penalties or must purchase credits from rivals that exceed them, adding further pressure to a market already grappling with policy uncertainty.

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New EV tax risks derailing electric car take-up, AutoTrader warns

The UK economy returned to growth in November, expanding by 0.3 per cent after contracting in the month leading up to the autumn budget, according to figures from the Office for National Statistics.

The increase in GDP exceeded economists’ expectations of a modest 0.1 per cent rise and suggests that economic activity proved more resilient than many sentiment surveys had indicated in the run-up to the budget on 26 November.

Growth over the three months to November also surprised on the upside, rising by 0.1 per cent, compared with forecasts of a 0.2 per cent contraction, following flat growth in October.

The rebound was driven by a recovery in manufacturing and services. Car production provided a notable boost after Jaguar Land Rover restarted factory operations following a major cyber attack that had disrupted output earlier in the autumn.

The services sector, which accounts for more than three-quarters of UK economic output, expanded by 0.3 per cent in November after shrinking by the same amount in October. Professional, scientific and technical services led the recovery, recording a strong 1.7 per cent monthly increase.

Production output, including manufacturing, rose by 1.1 per cent over the month, while construction activity continued to struggle, contracting by 1.2 per cent.

The latest figures suggest that uncertainty surrounding the budget had less immediate impact on actual output than business confidence indicators had implied, although economists caution that the broader economic picture remains fragile.

The UK economy has cooled after a relatively strong start to the year, a period when growth data has historically tended to outperform. However, analysts believe momentum could pick up again in early 2026 as the post-budget environment stabilises.

Sanjay Raja, UK economist at Deutsche Bank, said output in the first quarter of 2026 was likely to improve as uncertainty fades. He said households were expected to increase spending modestly at the start of the year, while investment across both the public and private sectors remained on an upward trend.

City forecasters also expect inflation to fall back towards the Bank of England’s 2 per cent target as early as April, potentially easing pressure on household budgets and creating scope for lower interest rates.

The Treasury said the figures underlined the government’s efforts to reverse years of underinvestment, while acknowledging that further work was needed to sustain growth, tackle the cost of living and keep inflation under control.

Read more:
UK economy returns to growth with 0.3% expansion in November

Restaurant Brands International announced a joint venture with Chinese alternative asset manager CPE in November 2025, setting a target to grow Burger King’s presence in China from roughly 1,250 locations to above 4,000 within the next decade.

The Toronto-based quick-service restaurant operator reported third-quarter 2025 revenue of $2.45 billion, exceeding analyst estimates of $2.40 billion, driven by international expansion and Tim Hortons performance.

Armistice Capital acquired shares of Restaurant Brands during the second quarter of 2025, establishing a position in the company as it executed expansion plans across global markets. Other institutional investors including Vanguard Group, Royal Bank of Canada, and Pershing Square Capital Management also hold significant positions.

China Joint Venture Accelerates Growth Strategy

CPE committed $350 million in new capital to Burger King China, funding planned investment in additional locations, brand marketing, product development, and day-to-day management. The joint venture aims to double the brand’s restaurant count within five years, positioning Burger King to capture growth in one of the world’s fastest-expanding consumer markets.

“China remains one of the most exciting long-term opportunities for Burger King globally,” said Joshua Kobza, CEO of Restaurant Brands International. “CPE is a well-capitalized, proven operator with exceptional leadership and extensive consumer and restaurant experience, making them an ideal partner to fuel the next chapter of Burger King China’s growth.”

CPE oversees roughly $22 billion across its investment portfolio, maintaining offices in major Asian financial centers including Beijing, Shanghai, and Hong Kong, along with Tokyo, New York, and Abu Dhabi. The partnership marks a strategic shift toward Restaurant Brands International’s stated goal of maintaining a simplified, highly franchised business model while providing greater visibility to achieve its 5%+ net restaurant growth target.

The transaction followed Restaurant Brands International’s acquisition of substantially all remaining equity interests in Burger King China from former joint venture partners in February 2025. The company reported it would classify Burger King China as a discontinued operation beginning in the first quarter of 2025 as it worked to identify a new controlling shareholder aligned with long-term strategy.

Third-Quarter Results and Brand Performance

Restaurant Brands International reported third-quarter 2025 adjusted earnings of $1.03 per diluted share, exceeding analyst expectations of $1.00. The company reported net income of $315 million, or 96 cents per share, up from $252 million, or 79 cents per share, a year earlier.

System-wide sales across all markets rose 6.9% during the quarter. Comparable sales grew 4.0% globally, with international operations advancing 6.5% and Tim Hortons locations posting 4.2% growth.

The company’s international segment emerged as the standout performer, with 6.5% same-store sales growth and 5.1% net restaurant growth driving system-wide sales growth exceeding 12%. Restaurants in Western Europe, China, and Japan fueled the segment’s performance. Organic adjusted operating income grew 8.8% during the quarter, keeping the company on track to deliver at least 8% organic adjusted operating income growth for full-year 2025.

Tim Hortons demonstrated sustained momentum with third-quarter same-store sales growth of 4.2%, marking 18 consecutive quarters of positive comparable sales. The coffee and breakfast chain’s expanded food offerings and improved iced latte recipe contributed to a 10% increase in cold beverage sales during the period. Tim Hortons and the international business combined account for roughly 70% of the company’s adjusted operating income.

Burger King U.S. same-store sales increased 3.2% in the third quarter, outperforming the broader burger quick-service restaurant category and reflecting progress in the chain’s domestic turnaround strategy. Restaurant renovations and marketing focused on core menu items like the Whopper contributed to the performance. More than half of U.S. restaurants have been renovated since the turnaround began, with the chain targeting 85% completion of its modernization program.

“We made great progress in the second quarter advancing our strategic priorities, with improved sales trends and strong execution led by our two largest businesses, Tim Hortons and International,” said Kobza in the company’s second-quarter earnings call. “Across the system, we’re seeing strong franchisee alignment, impactful marketing, and focused operational initiatives drive meaningful improvements in the guest experience.”

Popeyes emerged as the portfolio’s underperformer during the third quarter, reporting same-store sales declines of 2.4%. The fried chicken chain has struggled to maintain pace with competitors, particularly regarding value-minded customer competition. Third-quarter results showed improvement compared to the first quarter’s 4.0% decline.

Five-Year Expansion Outlook

Restaurant Brands International is targeting 40,000 restaurants, $60 billion in system-wide sales, and $3.2 billion in adjusted operating income by 2028. The growth plan requires average annual results of 3%+ comparable sales, 5%+ net restaurant growth, and 8%+ system-wide sales growth.

International markets account for approximately 7,000 of the planned new outlets through 2028. The company operates in more than 120 countries through a network of master franchisee partners with proven restaurant experience and capital resources. As of the third quarter 2025, the company maintained 32,229 restaurant locations globally, representing 2.8% net restaurant growth.

Among home market opportunities, Tim Hortons is planning the most aggressive U.S. expansion, targeting 1,000 American locations by 2028 compared to 627 at the beginning of 2023. The growth strategy aims to replicate Tim Hortons’ Canadian market dominance in the United States, where the brand emphasizes afternoon daypart offerings and cold beverages.

The company is targeting $2.48 in dividends per common share and partnership unit for 2025, representing a 3.5% yield based on recent share prices. Restaurant Brands generated $566 million in free cash flow during the third quarter of 2025, with total liquidity of approximately $2.5 billion, including $1.2 billion in cash.

Institutional Holdings and Market Position

Institutional investors own approximately 82.3% of Restaurant Brands International’s outstanding shares. Capital World Investors, Royal Bank of Canada, and Pershing Square Capital Management rank among the largest shareholders.

While Armistice Capital and other funds established new positions in Restaurant Brands, institutional investors such as Vanguard Group, Goldman Sachs Group, and 1832 Asset Management continue to hold substantial positions.

Restaurant Brands International’s market capitalization stood at approximately $23.45 billion as of early January 2026.

Read more:
Burger King’s $350M China Joint Venture Draws Armistice Capital, Other Institutional Investors

A present-day artificial intelligence audio book generator and artificial intelligence dubbing engine eliminate technical obstacles and enable any user to convert text or video into audio that sounds human-like.

Traditionally, when you are producing an artificial intelligence audiobook of a PDF, the voice quality was the prerogative of a select few, but nowadays, with AI, anyone can produce high-quality voice production.

An audiobook generator with a Free AI Video Dubbing Tool provides the creators with flexibility. It is possible to make text immersive audio speech, and videos can be translated between languages without the need to re-record voices. Under the free AI dubbing solutions, creators save on time, money, and effort, and still maintain clarity and realism.

This article examines the use of one AI tool to assist both audiobooks and dubbing, the technology behind it, practical examples, and the reason why AI-formulated audio is becoming vital in the creation of content in the present day.

How AI Audiobooks and Dubbing Are Reshaping Global Audio Consumption

The audio content has been in high demand because individuals listen to information when commuting, exercising, or multitasking. This development has resulted in the expansion of the market of the AI audiobook generator, where the written material can be transformed into spoken material within minutes.

Meanwhile, the tools of AI dubbing are re-establishing the ways in which videos are distributed to the audience around the world. The systems of modern audiobooks are based on high-tech speech synthesis that emulates the human tone, rhythm, and emotion. In contrast to primitive robotic voices, the current models have smooth voices that are appropriate when listening to long content.

The production of audiobooks and dubbing is a single workflow. Authors, teachers, and advertisers do not have to use different tools. One free generator of AI audiobooks and the ability to insert dubbing in the format of a true audiobook would provide consistency of reading and video, and save much time on its videos.

One Platform, Unlimited Audio Possibilities for Modern Creators

An integrated system ensuring the use of audiobooks and dubbing helps creators overcome a number of issues they struggle with nowadays. As opposed to coordination on various platforms, it all takes place in a single streamlined setting.

Key advantages include:

Efficiency in time through converting text or video into audio in minutes.
Cutting costs through the removal of studios, narrators, and post-production.
Imaginative customisation of various voice and playback features.
Long document, course, or library of content scaling.

Brand consistency is also guaranteed by the use of AI dubbing, free, and the audiobook features. Written text and video can be narrated using the same voice tone. It is particularly useful to creators who are going to a multilingual or audio-first approach. Included, accessible, and distributed content becomes more widespread with dubbing AI.

Balancing Sound Quality, Accessibility, and Responsible AI Use

The quality of the sound is usually the first thing that comes to mind when one mentions AI-generated audio. In contemporary systems, emphasis is placed on clarity, speed, and emotion-free speech so that people can comfortably listen to a speaker in the long term. The other significant advantage is accessibility since audio versions render the content accessible to people with visual disabilities and multilingual.

Ethical design also matters. The responsible platforms guarantee the creation of voices in a legal manner, protection of user data, and the right to ownership of the content is retained by the owner. The application of AI in audio tools is found to boost creativity, not to replace it, when applied in a transparent way, and is more of an aid, not a shortcut.

From Text and Video to Natural Voice: Inside the AI Audio Workflow

Beneath the deceptive simplicity of one-click generation, there is a systematic AI workflow that aims at the precision of the sound and naturalness. The process section describes the way the content is transferred out of the text or video to the completed audio.

The system initially removes text or speech from uploaded documents or videos.
Natural speech is analysed by AIs based on language, punctuation, and context.
Depending on the type of content, users choose a style of voice and speed.
The platform creates speech through audio narration or dubbing.
Final audio is listened to, corrected, and downloaded to be used instantly.

This is done to eliminate technical complexity and maintain control. Be it the creation of an audiobook chapter or dubbing a short video, the workflow is still user-friendly and time-efficient, so that professional creation of the audio can be done by newcomers as well as experts.

Where AI Audiobooks and Dubbing Deliver Real-World Impact

AI audiobook and video dubbing AI free applications do not require authors or content creators. They are being implemented fast in various sectors.

Teachers transform lesson notes into audio so as to assist auditory learners. Companies translate training films into foreign languages. The blog posts are converted into audiobooks by marketers to attract mobile users. Even people use AI audio to read papers without holding them.

Adaptability is what makes this approach so strong. The tool can handle short marketing videos, long-form audiobooks, and educational content, and does not compromise on quality. With the growing use of audio, AI-generated narration and dubbing have become the norm and not a choice.

Conclusion

The creation, distribution, and scaling of audio content have been revolutionised through AI. Free AI dubbing software with an audiobook adds a viable option to any person who wants to convert written text into speech immediately or to localise video material effectively.

Through the integration of a free AI audiobook generator and AI-based dubbing on the same platform, creators can access rapidity, consistency, and creative freedom without being constrained by technical aspects.

With audio taking over digital consumption, the future will be characterised by tools that make the production process easier and the quality intact. It is no longer an experiment, and AI-based audio creation can be applied to books, movies, and the experimentation of new formats. It is a stable, convenient, and effective means of bringing content to life.

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Free AI Dubbing Tool with Audiobook Support – Convert Text to Speech Instantly