Google wants US judge’s app store ruling put on hold October 12, 2024 Google has asked a California federal judge to pause his sweeping court order requiring it to open up its app store Play to greater competition. In a court filing on Friday night, Google said U.S. District Judge James Donato’s injunction order, which goes into effect on 1 November, would harm the company and introduce “serious [...]
China flags more fiscal stimulus for economy, leaves out key details on size October 12, 2024 China pledged on Saturday to “significantly increase” debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package, a vital detail to gauge the longevity of its recent stock market rally. Finance Minister Lan Foan told a press conference Beijing will help local governments tackle their debt problems, [...]
DP World to attend government investment summit despite call to boycott P&O October 12, 2024 DP World will attend the government’s international investment summit on Monday despite reports that a row over calls to boycott its subsidiary P&O Ferries had put a £1bn investment at risk. Dubai-based DP World was reported to have pulled out of the summit and put plans to announce a major investment in the UK under [...]
Boeing to lay off 10 per cent of employees as factory strike cripples production October 12, 2024 Boeing plans to lay off about 10 per cent of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the company’s best-selling airline planes. New chief executive Kelly Ortberg told staff in a memo on Friday that the job cuts [...]
Labour seeks to balance P&O criticism after Starmer slaps down call for boycott October 12, 2024 A Labour MP has sought to balance criticism of P&O Ferries after reports the Transport Secretary’s call for a boycott of the company could have jeopardised a £1bn investment in the UK. Keir Starmer has said Louise Haigh’s call for a boycott of the ferry firm was “not the view of the Government”. Liam Byrne [...]
UK may need £20bn tax hike to stop spending cuts, think tank says October 12, 2024 Britain’s new Labour government may need to increase taxes by £20bn in its first budget to avoid real-term cuts across public services, the Resolution Foundation said on Saturday. The think tank also said revising budget rules to use an alternative definition of public debt could allow finance minister Rachel Reeves to finance long-term investment while [...]
Budget will boost living standards, revive NHS and ‘rebuild Britain’ – Starmer October 12, 2024 The Budget will focus on boosting living standards, reviving the NHS and “rebuilding Britain”, Keir Starmer said as he signalled investment in schools, housing and transport. Chancellor Rachel Reeves will deliver her first Budget on October 30 following gloomy warnings about the tough decisions and tax rises needed to deal with the economic legacy left [...]
London-listed firms say uncertainty over AIM tax relief is hurting investor confidence October 10, 2024 Over 100 major London-listed companies, including Fevertree Drinks and YouGov, have written to the Chancellor warning that the uncertainty surrounding the future of a key tax relief tied to London’s junior stock market is battering investor confidence.
THG confirms plans to demerge Ingenuity alongside £75m fundraise October 10, 2024 E-commerce firm THG has confirmed it will press ahead with the demerger of its Ingenuity division today as it revealed plans for a £75m fundraise led by boss Matthew Moulding. In a statement to the market this evening, the London-listed firm said the demerger of Ingenuity, which includes City AM, will ease the “simplification of [...]
‘Dangerous and destructive’ Hurricane Milton makes landfall in Florida October 10, 2024 Hurricane Milton has made landfall as a Category Three storm, with the Met Office warning it will be “dangerous and destructive” as thousands of UK holidaymakers had their flights to Florida cancelled. Milton made landfall near Siesta Key, Florida, at about 8.30pm local time. The US National Hurricane Centre reports the hurricane had maximum sustained [...]
