Central London Alliance calls on Treasury to reinstate tax-free shopping and generate an estimated £10 billion January 31, 2024 | City Talk Ahead of the budget announcement on 6 March 2024, Central London Alliance (CLA) has submitted a proposal calling for the Treasury to reinstate tax-free shopping in efforts to help the retail sector recover from post-pandemic challenges. CLA backs requests by the retailers to reintroduce the scheme allowing foreign visitors to the UK to shop tax-free. [...]
Universal to pull songs from TikTok while demanding protection from ‘harmful effects of AI’ January 31, 2024 Universal Music has said it plans to strip its extensive song library from TikTok amid payment negotiation breakdowns.
Oak Furnitureland slumps to £32m loss as rising costs bite January 31, 2024 Oak Furnitureland slumped to a loss of almost £32m during its latest financial year, newly-filed documents have revealed.
Samsung profits tumble 34 per cent after chip business hits rock bottom January 31, 2024 Samsung has reported a 34 per cent drop in operating profits in its four quarter and new lows for its chip business.
Santander UK rides out interest rate peak but expects further mortgage weakness January 31, 2024 High street lender Santander UK has reported a jump in annual profits as it rode out the end of an interest rate spike, while weakness continued in the mortgage market.
Challengers say new law will end Big Tech’s ‘stranglehold’ January 31, 2024 A number of tech challengers and startups have urged the government to pass the digital markets bill before the next election to help end Big Tech's "stranglehold" on the sector.
Network Rail must improve performance after Elizabeth Line and Paddington disruption, says Sadiq Khan January 31, 2024 The Mayor of London has called on the UK's rail infrastructure manager to get its act together after disruption on the Elizabeth Line.
Shell hopes to reassure shareholders of green gains amid expected profit hit January 31, 2024 Of the two UK oil majors, Shell has been the quieter of late. Market discussions in recent weeks have largely revolved around BP’s former finance boss-turned chief executive Murray Auchincloss. Specifically, what his tenure could mean for a company that seems stuck between a rock and a hard place balancing shareholder returns with a demanding [...]
Moving markets: Five things shaping the FTSE 100 today January 31, 2024 Asia markets mirror Wall Street's decline; most AI stocks, including Microsoft, Alphabet, and AMD, tumble; China's January factory activity contracts; attention shifts to Fed and BOE policy meetings.
China’s January factory activity contracts again, dimming economic recovery prospects January 31, 2024 China's manufacturing sector, while showing slight improvement in January, sustained its fourth consecutive month of contraction despite government efforts to boost growth and weak demand, clouding the country's economic recovery outlook.