Cardano builder Input Output Global invests $4.5m into Edinburgh blockchain research hub November 17, 2022 Input Output Group has ploughed $4.5 million into a research hub at the University of Edinburgh to fund new blockchain projects.
Train drivers’ union calls off Overground strike on 26 November November 17, 2022 Train drivers’ union Aslef has called off its planned strike action on 26 November following a breakthrough in negotiations. Union leaders said they received an offer from operator Arriva Rail London and put it to members, who will decided whether to take it. “Members at London Overground will now have the opportunity to consider and [...]
FTX’s new bankruptcy boss slams ‘complete failure of corporate controls’ November 17, 2022 The new chief of collapsed crypto exchange FTX has slammed a “complete failure of corporate controls” and “absence of trustworthy financial information” at the firm, in court filings published today.
Startups hit by R&D tax relief cut despite push for growth November 17, 2022 The Chancellor has cut the rate of research and development (R&D) tax relief for small businesses, in a “hugely disappointing” move for startups. In his Autumn budget, Jeremy Hunt slashed the relief from 14.5 per cent to 10 per cent, which may see the UK’s SMEs struggle to secure enough funding for R&D, according to [...]
Reeves says UK in ‘doom loop’ and being ‘held back’ as Hunt hikes taxes November 17, 2022 Rachel Reeves has described the UK as being in an economic “doom loop” as she hits out at the government’s newly announced tax hikes. Labour’s shadow chancellor said the “mess we are in is the result of 12 weeks of Conservative chaos, but also 12 years of Conservaitve economic failure”. Chancellor Jeremy Hunt announced public [...]
Government commits £6bn for energy efficiency drive to ease record bills November 17, 2022 The Government has committed further funding for a nationwide drive to boost the energy efficiency of people's homes.
Hunt pushes to make UK ‘the world’s next Silicon Valley’ November 17, 2022 The Chancellor has vowed to turn Britain into “the world’s next Silicon Valley,” stating that the key to global success was “not tax subsidies but competition”. In his Autumn statement, Jeremy Hunt restated the government’s commitment to pushing through legislation that would activate the Digital Markets Unit (DMU). Under the current draft Digital Markets Bill, [...]
Solvency II reform ‘welcome boost for UK investment’, say insurance giants November 17, 2022 The UK's insurance giants have hailed reforms to Solvency II as a "significant opportunity" to channel cash into the economy today, after the government announced it would legislate reforms to the rules.
Volkswagen in doubt over construction of £1.7bn German electric car factory November 17, 2022 Volkswagen’s plans to build a €2bn (£1.7bn) electric vehicle factory in Germany are in doubt, according to recent reports. People close to the matter told Reuters that chief executive Oliver Blume was currently reviewing the plans, as doubts were cast on whether a new electric vehicle (EV) factory was needed after all. According to sources, [...]
Chancellor ‘misses a trick’ by not re-introducing tax-free shopping for overseas tourists November 17, 2022 West End business leaders have slammed the Chancellor for not changing his mind on an introduction of VAT free shopping for overseas tourists. Despite calls from luxury retailers this month, Jeremy Hunt made no mention of the prospect of introducing tax-free shopping for overseas visitors making trips to London’s shopping heartlands. Last month, Hunt announced [...]
