Autumn Budget 2024: UK private schools hit by VAT fees October 30, 2024 Private schools will be subject to VAT on fees from the start of 2025, Chancellor Rachel Reeves announced in today’s Autumn Budget. As expected, the government is removing the tax benefits previously linked to the charitable status of all private schools in the UK. Tuition and boarding tuition fees will now be taxed 20 per [...]
Google: AI investment pays off as cloud drives revenue growth October 30, 2024 Google’s parent company, Alphabet, reported increased revenue in the third quarter due to its strong performance in its Google Cloud division. In its third-quarter trading update, the company posted revenue of $88.3bn (£67.8bn), a 15 per cent increase from the second-quarter. However, growth at the firm’s core advertising business lagged the wider group. The total [...]
Adidas predicts profit of nearly £1bn after sales surge October 29, 2024 Adidas is now predicting its operating profit to swell to almost £1bn for 2024 as it upped its forecasts following a better-than-expected performance in recent months. The sportswear giant is now eyeing an operating profit of around €1.2bn (£997m) for its current financial year, a rise from its previous guidance of around €1bn. The increase [...]
Robot artist makes history as the first humanoid to sell at Sotheby’s October 29, 2024 The first ever ultra-realistic humanoid artist, Ai-Da, will have its art auctioned by Sotheby’s this week – a milestone for the art world. The robot’s work, ‘A.I. God’, portrays three paintings of Alan Turing, the so-called father of modern computer science, and will be featured in Sotheby’s Digital Art sale from 31 October to 7 [...]
First-time buyers could see huge tax hit under rumored Budget change October 28, 2024 First-time buyers could see huge tax hit under changes rumored to be included in the Autumn budget. It has been rumoured that Chancellor of the Exchequer Rachel Reeves will rule out any changes to stamp duty land tax in the Budget. Stamp duty land tax currently applies to homes costing over £250,000, but in March [...]
Most Brits worried about tax hikes, survey reveals October 25, 2024 With the Budget just less than a week away, a recent survey reveals that most Brits are worried about potential tax hikes, yet the poll highlights a divide on tax strategy. According to a survey by AJ Bell conducted from October 2-4, representing 2,054 UK adults, two thirds of respondents expressed concerns around their personal [...]
UPS returns to growth for the first time in two years as Christmas run-up starts October 25, 2024 The United Parcel Service (UPS) returned to revenue and profit growth in its third quarter for the first time in nearly two years, showing signs of a strong economy gearing up for the festive season. According to the latest trading update, the global shipping service reached $24.4 bn (£18.8 bn) in revenue, a 4.2 per [...]
RELX: Strong demand pushes up revenue for data firm October 24, 2024 Global analytics and decision tools provider RELX has reported an increase in its underlying revenue for this year, as it stood by its guidance looking at strong growth. According to a trading update to markets this morning, the London-listed firm said its underlying revenue rose by seven per cent, reaffirming its full year outlook as [...]
Demand for opioid treatment drug drives growth at Indivior October 24, 2024 Indivior’s revenue rose 13 per cent to $307m (£237m) in the third quarter, driven by strong demand for its opioid treatment drug Sublocade. The results, published this morning, showed that the revenue increase was backed by a 24 per cent year-on year rise in the drug’s sales, bringing in $191m (£147) during the quarter. Chief [...]
New MedTech plan set to cut down waste and add billions to the economy October 23, 2024 The UK government has announced a new strategy aimed at increasing the reuse, recycling and re-manufacturing of medical technologies, which experts think could save Britain billions of pounds. The department of health and social care said that approximately £10bn is spent yearly on medical technology (MedTech), but too much is imported in ways which disrupt [...]
