Data centres: The UK’s economic powerhouse? November 4, 2024 A new report claims that, given the right investment climate and policy support, the UK data centre sector could grow tenfold by 2035. TechUK’s report found that the sector could boost the economy by £44bn while creating over 40,000 jobs. The report also outlined how surging demand for digital services, fuelled by tech trends such as AI, [...]
Government-backed cyber security has a long way to go, warns Arctic Wolf November 1, 2024 The boss of Arctic Wolf, one of the world’s biggest cybersecurity companies, has warned that governments need to invest in cybersecurity. Nick Schneider spoke to CityAM ahead of the Labour government’s first Budget earlier this week. Acknowledging the rise in demand for the sector, he argued: “Whilst it is encouraging that most governing bodies are [...]
Howard de Walden opens leading Healthtech hub November 1, 2024 The Howard de Walden Estate has taken a notable step in its healthcare innovation strategy after it announced its £52m investment in a new Healthtech hub centred on Hale House. Partnering with Spacemade, the flexible workspace provider, Walden said it aimed to make the Harley Street Health District the leading global destination for health technology [...]
Autumn Budget 2024: Leading tech founders slam tax increases October 30, 2024 British tech founders have slammed rises in capital gains tax (CGT) and national insurance contributions (NICs) confirmed by Chancellor Rachel Reeves in Wednesday’s Budget. The government has increased the lower rate of CGT from 10 to 18 per cent, and the higher rate from 20 to 24 per cent. It also hiked employers’ NICs by [...]
Autumn Budget 2024: Landlords and renters hit by tax rise October 30, 2024 Labour’s Autumn Budget has introduced major tax changes which will impact landlords and renters across the UK. Chancellor Rachel Reeves, as expected, announced an increase in Capital Gains Tax (CGT) on higher-rate tax payers from 20 to 24 per cent, and basic-rate tax payers from 10 to 18 per cent. Yet, the nil rate band [...]
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 [...]
