After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Reeves may need larger fiscal buffer to ‘build credibility’ June 27, 2025 Chancellor Rachel Reeves may need to make her headroom larger than £9.9bn in the autumn to restore credibility and fund policy U-turns, an economics think tank has warned, prompting warnings that “unpopular tax hikes” are coming down the line. Proposed welfare reforms saved the government £4.8bn at the Spring Statement in a last minute rush [...]
Bond markets calm despite government benefits u-turn June 27, 2025 The cost of government borrowing has stayed flat on Friday morning despite the Starmer administration’s costly benefits U-turn blowing a £3bn hole in the UK’s precarious public finances. Gilts – the name for UK government bonds – opened in a muted fashion across the curve. 10-year yields nudged down two basis points (bps) in early [...]
Hackathons help UK defence tech take flight June 27, 2025 Sandhurst isn’t the first place one might liken to Silicon Valley. Yet, the Royal Military Academy – long a symbol of tradition in British defence – is becoming a new hub for defence technology innovation. At a recent 24 hour defence tech hackathon, the Royal Military Academy Sandhurst hosted coders, engineers and military veterans alike, [...]
Labour’s welfare U-turn spikes fears of tax hikes June 27, 2025 The Labour government has confirmed its latest U-turn with a significant retreat on welfare reform dealing a crushing blow to Rachel Reeves’ waning fiscal headroom. The bill initially targeted restrictions on personal independence payments (PIP) and limited the sickness-related element of universal credit in a bid to shed £5bn from the welfare budget by 2030. Under [...]
Heathrow eyes earnings crunch as national insurance hike weighs June 27, 2025 London Heathrow airport expects its earnings for 2025 to take a hit as it weighs the cost of Labour’s hike to employer’s national insurance contributions. The airport expects earnings before interest, taxes, depreciation, and amortisation (EBITDA) to decrease by three per cent to near £1.98bn over the year due to higher operating costs brought on [...]
Is Atlantis The Royal ‘The most ultra-luxury resort in the world’? June 27, 2025 The phrase “Disneyland for adults” is thrown around to describe everything from Monaco to Miami, to certain Soho House outposts. At Atlantis The Royal, the 795-key mega-resort on Dubai’s Palm Jumeirah, the comparison actually holds up, except this time Mickey is wearing Balenciaga, and demanding tableside caviar bumps. This isn’t so much a hotel as [...]
Driving a Ferrari Purosangue through sleepy St Mawes, Cornwall June 27, 2025 Ah, Cornwall, the second home capital of England. Of course, the locals loathe the incoming hoards from West London and the home counties, breezing in for a few sunny weeks of the year with their 4x4s, yoga mats and Big Green Egg barbecues. Following the G7 summit held in Carbis Bay in 2021, an especially [...]
Cavendish chiefs: Markets need tax incentive to turn heads June 27, 2025 The bosses of investment bank Cavendish have joined calls to use more attractive tax policy to boost market listings, amid a waning backdrop for the London Stock Exchange. The London-listed company swung back into profit on Wednesday, but did so battling against woeful mergers and acquisition volumes. Takings from M&A slumped 55 per cent on [...]
Jeremy Hunt ‘made mistake’ in taxing non doms June 27, 2025 Former Chancellor Jeremy Hunt was wrong to target non doms as part of efforts to raise more government revenue from tax, shadow business secretary Andrew Griffith has said. Hunt abolished a special tax status for non-domiciled residents in his last Budget, then raising £2.7bn, before Rachel Reeves went further by removing a carve-out that allowed [...]
Starling Bank sets sights on US expansion June 26, 2025 Starling Bank has set its sights across the Atlantic for future growth prospects as the UK fintech eyes a US banking licence or entering the market through an acquisition. The neobank took a £223m hit to profit in 2024, down from £301m in the previous year and has since scouted endeavours overseas to boost its [...]