Twitter plans to charge users $20 for blue tick verification as Musk pushes for revenue growth October 31, 2022 Elon Musk is reportedly gearing up to introduce paid verification on Twitter in a bid to drive up revenue. According to initial reports from The Verge, Twitter is currently planning to charge $19.99 for the new Twitter Blue subscription, adding to the current optional premium offering it has. According to insiders and internal correspondence seen [...]
Tax authorities arrest eight people over alleged attacks on R&D incentives October 31, 2022 Tax authorities have arrested eight people over alleged “organised criminal attacks” on tax breaks for those carrying out research and development. The individuals are alleged to have set up more than 100 fake claims worth more than £16m, under the £7.4bn scheme which is designed to incentivize innovation by providing tax breaks for R&D, according [...]
Space is the limit! Science Group pens £17.5m deal for defence and energy specialists TP Group October 31, 2022 Space, defence and energy are the sectors the Science Group is pushing into with a fresh £17.5m acquisition. AIM-listed TP Group, which specialises in defence, space and energy consultancy, is set to be snapped up by the organisation for some 2.25p a share, representing a premium of 190 per cent. Both boards have agreed to [...]
Asda completes £611m swoop for Co-op’s petrol business October 31, 2022 Asda has completed a £600m deal to buy the Co-op’s petrol business Asda this morning. The deal includes 129 petrol forecourt sites, spread across the UK and represents five per cent of Co-op’s retail estate of 2,564 stores. Co-op said it would use the proceeds to reinvest in the convenience business and reduce net [...]
Collapse of landmark tax deal could result in trade wars, OECD tax chief warns October 31, 2022 The US and Europe risk reigniting trade wars and losing hundreds of billions in tax revenue if they fail to implement the major global tax deal agreed to last year, the OECD’s departing tax chief has warned. The landmark tax deal, which ensure major multinational corporations with annual revenues of more than €750m (£643m) are [...]
Stunning comeback: Lula da Silva seizes power in Brazil after ruthless election October 31, 2022 Luiz Inacio Lula da Silva will become Brazil’s next head of state, giving the leftist former president another shot at power in a rejection of incumbent Jair Bolsonaro’s far-right politics. Da Silva received 50.9 per cent of the vote and Mr Bolsonaro 49.1 per cent, according to the country’s election authority. Yet hours after the [...]
Awkward questions in Canary Wharf as HSBC accused of pumping ‘sustainable bonds’ into fossil fuels October 31, 2022 HSBC has allegedly pumped billions of dollars into fossil fuels, deforestation and air travel and labelled it “sustainable finance”. A new investigation investigation by the Bureau of Investigative Journalism and the BBC has suggested that at least $2.4bn of deals that the bank counts towards its sustainability goals were actually contributing to climate change. HSBC has committed [...]
All eyes on the EU as ECB faces ‘nightmare scenario’ of record inflation and need to hike rates again October 31, 2022 Last week was the fourth successive week of gains for equity markets in Europe as well as the US, despite some high-profile earnings misses. It’s been particularly notable that while there were some notable earnings misses, especially in the tech sector, by and large the more traditional areas of the market have performed better. “While [...]
City in shock as £1.3 trillion is wiped off value of UK bonds in record sell-off October 31, 2022 More than £1.3 trillion has been wiped off the value of UK bonds since the start of 2022 following a major sell-off across bond markets, according to new figures. Just over £882bn has been wiped off the value of Gilts and Index-linked Gilts, which have fallen 26.4 per cent and 36.2 per cent respectively in [...]
First of its kind in UK retail: All 60,000 staff at Co-op to be given paid time off for fertility treatments October 31, 2022 In what is considered a unique new policy by a major UK retailer, all 60,000 employees at supermarket giant Co-op will be able to take paid time off for fertility treatments. Co-op’s chief executive, Shirine Khoury-Haq, said that she has gone through the process of fertility treatment herself and wants to create a supportive environment [...]