US could default in just a couple weeks unless debt ceiling is raised, Goldman Sachs warns May 22, 2023 The US could run out of cash to pay its lenders as soon as 8 June unless policymakers agree to lift the debt ceiling, top Wall Street economists have estimated. It is expected that the emergency measures the US Treasury has been leaning on to meet its short-term debt obligations could run dry in just [...]
Keir Starmer vows to ban ads for ‘harmful’ products like sugary snacks aimed at children May 22, 2023 Sir Keir Starmer has pledged to ban advertising for “harmful” products including vaping, junk food and “sugary snacks” to children if Labour is elected into power. He outlined his plans for reforms to the NHS, Labour’s third ‘mission’ for government, in a speech this morning, setting out a bid to shift to a prevention-focused approach, [...]
Jeremy Hunt and Rishi Sunak’s profit tax rise to hit investment, survey finds May 22, 2023 Jeremy Hunt and Rishi Sunak’s corporation tax hike is poised to squeeze the UK economy by mothballing investment, new figures out today show. Nearly half of all mid-sized companies intend to shelve big spending projects due to the Chancellor and Prime Minister snatching a greater share of company profits, according to consultancy BDO. Last month, [...]
‘Increasingly authoritarian’ China poses ‘biggest challenge of our age’, Sunak warns May 21, 2023 Rishi Sunak has warned that an increasingly authoritarian China poses the “biggest challenge of our age” after discussing how to tackle aggression from Beijing with western allies. The prime minister said that it is the “only country with both the means and intent to reshape the world order” after meeting with leaders at the G7 [...]
Former CBI boss insists organisation did not have a ‘toxic culture’ May 21, 2023 Former CBI chief Dame Carolyn Fairbairn has insisted the organisation did not have a toxic culture as she broke her silence on the sexual misconduct scandal that has engulfed the body in recent months.
Rich list: Richard Branson and Rishi Sunak see fortunes shrink – but who are the wealthiest Brits now? May 19, 2023 The billionaire Hinduja family have topped the Sunday Times Rich List for the second year in a row as their fortune jumped by more than £6 billion. Gopi Hinduja and his family, which is behind the Indian conglomerate Hinduja Group, were named as Britain’s richest just days after Mr Hinduja’s brother Sri died. For the [...]
Sunak insists he will bring down taxes when inflation cools May 18, 2023 Rishi Sunak has insisted he will bring down taxes when inflation cools and claimed the economy is defying expectations. It comes after economists warned one in five people will be paying the higher rate of tax under his policies. The Prime Minister said the nation’s finances are receiving boosts from the departure from the EU, [...]
Starmer vows to break high-tax, low-growth ‘doom loop’ May 18, 2023 Sir Keir Starmer has vowed the Labour Party will ensure “investment thrives” in order to boost growth in the UK economy if he is elected Prime Minister. The opposition leader hinted he would step up government investment and launch policies to boost private investment. Asked by City A.M. about investment and tax and spending policies, [...]
Sunak in China row over Confucius Institute U-turn May 18, 2023 Downing Street has refused to elaborate on Rishi Sunak’s decision not to ban controversial Confucius Institutes from operating in the UK. The Prime Minister previously pledged during his leadership bid to bar the 30 Beijing-linked organisations from running on UK soil. Confucius institutes are Chinese cultural and language outposts. But he has now walked back [...]
Elon Musk rubbishes Tesla exist chatter and commits to ‘try a little advertising’ too May 17, 2023 Elon Musk has dismissed speculation he may step down as Tesla’s boss – and told the company’s annual shareholders meeting the electric car and solar panel firm will start doing some advertising. “Say it ain’t so,” a shareholder said to Musk about stepping down as Tesla’s chief executive. “It ain’t so,” he replied. When another [...]