US semiconductor firm Achronix scraps $2bn Spac listing July 12, 2021 US semiconductor company Achronix has scrapped its planned $2.1bn (£1.5bn) blank-cheque listing after the deal was held up by regulators. The California-based company inked an agreement in January to merge with a special purpose acquisition company (Spac) named Ace Convergence Acquisition Corp. The deal was subject to meeting certain closing conditions, including gaining regulatory approval. [...]
Euro 2020: TV audience hits 31m as England lose on penalties July 12, 2021 Just under 31m people tuned into England’s Euro 2020 final loss last night, making the heart-wrenching fixture one of the largest TV audiences ever recorded. Viewer numbers peaked at 30.95m during the tense penalty shootout against Italy at Wembley, which was broadcast on both the BBC and ITV. An average of 29.85m people watched across [...]
Apple’s two UK divisions pay just £9m in UK corporation tax as sales top £1.1bn July 12, 2021 Apple paid just £9m in tax in the UK last year even as the tech giant weathered the pandemic to pull in sales of more than £1.1bn. In recently filed accounts the iPhone maker’s two UK subsidiaries — Apple Retail UK and Apple UK — posted revenue of £1.1bn and £372m respectively in 2020. Pre-tax [...]
Ministers ‘in secret visa talks’ to end lorry crisis July 12, 2021 The government has reportedly launched secret talks over a short-term visa scheme for foreign lorry drivers amid a staff shortage that threatens to overwhelm the haulage industry. The Department for Transport (DfT) is consulting with industry bosses on how to tackle the crisis as an estimated shortfall of 100,000 lorry drivers has left supermarket shelves [...]
Exclusive: UK fintech firms raise $5.7bn in record-breaking year July 12, 2021 UK fintech firms raised $5.7bn (£4.1bn) in the first six months of the year alone, smashing investment records for the booming sector. The bumper figure outstrips the total investment secured in the whole of 2020 and is more than a quarter higher than the previous annual record of $4.6bn set in 2019. The record-breaking cash [...]
UK businesses call for early end to self-isolation rules July 12, 2021 The government should bring forward planned changes to Covid self-isolation rules to help restore confidence, UK businesses have urged. In a six-point plan published last night, the Confederation of British Industry (CBI) said moving the changes forward would help ease staff shortages and ensure reopening was a “confident not an anxious” process. It added that [...]
UK finance chiefs gear up for post-pandemic spending boom July 12, 2021 Spending by UK businesses is set to surge in the coming months as finance directors prepare for a sharp increase in hiring and investment, according to a new survey. Almost three-quarters of chief financial officers expect rises in capital expenditure, while 76 per cent forecast increases in hiring in the year ahead. Expectations for both [...]
UK business confidence soars to highest level since 2005 July 11, 2021 UK business confidence has surged to its highest level since 2005 as companies look ahead to the final lifting of lockdown restrictions later this month. The latest business trends report from BDO showed the optimism index moved 2.74 points from 109.71 in May to 112.45 in June, marking the fifth consecutive month of growth and [...]
Yellen: Global corporate tax reform unlikely until 2022 July 11, 2021 US Treasury secretary Janet Yellen has warned that recently-agreed reforms to corporate tax rules that will ensure major companies pay tax in more countries may not be ready until next year. Speaking after a G20 finance leaders meeting in Venice today, Yellen said the OECD’s re-allocation of taxing rights was on a “slightly slower track” [...]
Taxpayer to cough up £35m for West Ham stadium revamp July 11, 2021 British taxpayers will be handed a £35m bill for a planned revamp of West Ham United football club’s stadium in east London. The government will fork out £14.5m of public money for fresh seating at the state-owned London Stadium as West Ham redevelops the west stand to bring fans closer to the pitch. A further [...]
