Lookahead: Ad tier to distract from falling Netflix subscribers October 17, 2022 Netflix’s new ad tier could act as the perfect distraction for falling subscribers, as the streamer gears up for its third quarter results tomorrow evening, analysts said. With Netflix estimated to add one million new signups globally in the latest quarter, Cowen & Co analyst John Blackledge said that heavier focus may be placed the new ad tier [...]
Uncertainty over timing of UK announcement of Big Bang 2.0 financial services reforms October 17, 2022 There is now uncertainty over when the UK will unveil its post-Brexit changes to EU financial services regulations amid the current government turmoil. The Treasury said last month that former chancellor Kwasi Kwarteng would announce the long-awaited reforms, which will include changing the EU’s Solvency II directive on insurance firms, in October. This target may [...]
Rees-Mogg opens talks with British Steel owner over bailout and jobs October 17, 2022 The business secretary has reportedly opened formal talks with the owner of British Steel about a taxpayer bailout and job cuts. As first reported by Mark Kleinman for Sky News, Jacob Rees-Mogg wrote to parent firm Jingye Group last week and agreed that British Steel would maintain its current operations and 4000-strong work force during the [...]
High-tax, high-drama, and out of ideas: Where next for the British economy? October 17, 2022 High-tax, high-drama, and impossible to predict: welcome to Britain in 2022. God help anybody trying to drum up foreign investment onto these shores at the minute. Forget being sure about what the tax code might look like in a year’s’ time – at the rate we’re currently moving, it’s hard to predict what it’ll be [...]
Trouble ahead in April as experts unveil new gloomy price cap predictions October 17, 2022 Energy bills will rise to a whopping £4,348 per year in April, warned Cornwall Insight, without more support for households.
Mordaunt says Truss is ‘not under a desk’ as PM avoids parliament scrutiny October 17, 2022 A senior cabinet minister has been forced to say that Liz Truss is “not under a desk”, after refusing to face questions in the House of Commons. Leader of the House of Commons Penny Mordaunt answered an Urgent Question in parliament today from Labour leader Sir Keir Starmer, instead of the Prime Minister. Starmer said [...]
Shares jump for housebuilders as stamp duty survives mini-budget u-turns October 17, 2022 Shares jumped for this afternoon after stamp duty cuts survived Jeremy Hunt’s mini-budget backtrack. Major players like Barratt Developments, Persimmon and Taylor Wimpey all saw their stock rally after the new chancellor’s emergency statement this morning. Barratt’s shares climbed nearly four per cent, whilst Persimmon and Taylor Wimpey were up nearly five per cent. Hunt [...]
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]
Gas markets slide as EU closes in on watered down price cap October 17, 2022 Gas prices are heavily down across UK and European benchmarks have fallen as the West pushes for a price cap on Russian supplies.
Pubs and brewers disappointed by alcohol duty reversal ahead of ‘toughest winter in history’ October 17, 2022 Pubs will be “hit extremely hard” this winter after the government scrapped an upcoming alcohol duty freeze, industry chiefs said. The duty freeze was one of many policies consigned to a bonfire of tax cuts from newly-appointed Chancellor Jeremy Hunt on Monday. Announced just a few weeks ago by Hunt’s predecessor Kwasi Kwarteng, the move would [...]
