Ed Warner: Are we witnessing the slow death of the transfer fee? October 17, 2024 Football transfer fees for superstar players make headlines, but in years to come we may look back on them as a quirk of history, argues Ed Warner. Another international break in the football calendar. Time for managers to fret about risk of injury to “their” players while away on national duty. Chairmen, too, to worry [...]
‘Broken’ inheritance tax ripe for reform at Budget, think tank says October 17, 2024 The government must reform the UK’s “broken inheritance tax system”, a respected think tank has urged, after fresh research found uncapped exemptions in the current framework means a quarter of estates worth over £10m pay a rate of just nine per cent. The Centre for Analysis of Taxation (CenTax) paper, published on Thursday, revealed the [...]
Here’s how Reeves could use the Budget to incentivise investment October 17, 2024 As well as balancing the books, Rachel Reeves should use the Budget to help businesses recapture their joie de vivre, says Claire Blackburn The new government’s first Autumn Budget on 30 October is arguably the most anticipated fiscal event in recent memory. Balancing the books will be a top priority and the £22bn hole in [...]
How Poland and Vietnam escaped poverty October 17, 2024 In a new book, Rainer Zitelmann examines how Poland and Vietnam escaped the ravages of the Cold War to become some of the world’s fastest growing economies – and argues that poverty isn’t inevitable, it’s a policy choice says Kristian Niemietz Case studies in recent economic history typically deal with unambiguous success stories, or unambiguous [...]
The Square Mile and Me: M Restaurants founder Martin Williams on backpack etiquette and mandatory two hour lunches October 17, 2024 Each week we ask a City figure to take a trip down memory lane. Today it’s Martin Williams, CEO of Groucho and founder of M Restaurants on the City staple’s 10th birthday What was your first job? I started working in hospitality when I was sixteen, as a dishwasher in a grotty hotel in North Yorkshire. I [...]
Concern for British high street as sector set for four-fold tax rise in April October 16, 2024 The double effect of inflation-linked tax bumps, as well as the end of business rate relief for consumer-facing firms, will lead to a four-fold tax increase for high street businesses next April, industry bodies have warned. Industry leaders across the board have been increasingly vocal about the need for reform to business rate taxes, and have [...]
How ASML sparked a global chip stock sell off October 16, 2024 Chip equipment maker ASML warned of a slower than expected recovery in the semiconductor market on Tuesday, triggering panic among investors who quickly offloaded stocks across the sector. The company’s quarterly results, accidentally published a day early, revealed orders that were half of what investors had expected. The company also cut its forecast for next [...]
Bittersweet boost: UK state pension to rise by 4.1 per cent due to triple lock October 16, 2024 Under the pensions triple lock, the state pension rises each April in line with whichever is highest of inflation, average wage increases or 2.5 per cent.
Klarna offloads UK loan book to hedge fund Elliott October 16, 2024 Klarna is selling off its UK loan book to the hedge fund Elliott in a deal designed to free up some £30bn to fund its global growth plans, the company has announced. In a statement today, the Swedish headquartered buy-now pay-later firm said it had signed a multi-year agreement with the UK arm of Elliott [...]
London Underground workers in Aslef and RMT vote to strike next month October 16, 2024 London Underground drivers will walk out next month, bringing chaos to the capital in a protest over pay and working conditions. Members of the Aslef union voted overwhelmingly to walk out on a number of dates in November, before RMT members backed strikes shortly after. Train operators and management grades will not work on 7 [...]