IFS: Sunak’s pledged Income Tax cut smaller than his tax rises as chancellor August 1, 2022 Rishi Sunak’s newly unveiled promise to cut the basic rate of Income Tax from 20p to 16p by the end of the decade is smaller than the tax rises he made as chancellor, according to an influential economic think tank. The Institute for Fiscal Studies (IFS) today also said the tax plans of Sunak and [...]
Thousands of UK businesses could face ‘significant delays’ in customs system shift August 1, 2022 Thousands of UK businesses risk “significant delays” to importing goods if they fail to move to the country’s new customs system before autumn, the government has warned. More than 3,500 businesses yet to transition to the Customs Declaration Service will be impacted when using the old system known as the Customs Handling Import and Export [...]
BT and Openreach strikes continue as Labour frontbencher Lisa Nandy joins picket line August 1, 2022 Thousands of BT and Openreach staff continued to strike today as the row over pay continues with the FTSE 100 firm.
Fund titan Blue Whale dumps Big Tech stocks August 1, 2022 Peter Hargreaves backed fund Blue Whale has backed out of Big Tech stocks as the sector continues feels the sting of inflationary concerns.
London markets lose early gains despite UK banks’ best efforts August 1, 2022 A bumper crop of results from Britain’s largest lender and Asia-focused HSBC initially boosted London markets today, before an afternoon collapse. The capital’s premier FTSE 100 index dropped 0.13 per cent to 7,413.42 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.22 per [...]
HSBC hits back at Ping An calls to carve out Asia business August 1, 2022 HSBC today hit back at intense pressure from its biggest shareholder to spin out its Asia business. The chief of Britain’s largest lender, Noel Quinn, said HSBC’s “strength as a well connected, global institution is the main reason our wholesale clients choose to bank with us”. “We are determined to capitalise on the advantages our [...]
Union calls for end to rail profit as worries of hiking annual fares mount August 1, 2022 The union TSSA has called for a new financial settlement for rail as worries of hiking annual fares mount. TSSA’s general secretary Manuel Cortes said commuters have been “clobbered by above inflation fare rises,” while private rail operators “laughed all the way to the bank.” “We need our railways to be fully in public hands [...]
Oil prices tumble as demand dips amid weak manufacturing data from China August 1, 2022 Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
All eyes on Airbnb to drag tech world back up August 1, 2022 After a rocky set of results for Silicon Valley titans, tech platforms will be keeping a close eye on Airbnb's second quarter results scheduled to drop tomorrow evening.
Homeowners offered energy MOT to ease bills August 1, 2022 Homeowners can benefit from recommendations for saving money on energy bills via a new website set up by the Government last weekend.
