Keeping a check on AI Oliver Wyman’s CEO highlights the pitfalls of regulating AI October 29, 2024 AI leaders gathered in Riyadh in September for the Global AI Summit (GAIN). Hosted by the Saudi Data & Artificial Intelligence Authority, GAIN 2024 explored themes such as generative AI, AI in urban life and the ethical governance of AI. Nick Studer, president and CEO of Oliver Wyman, who spoke on ‘AI governance in an interconnected [...]
Business will be looking at where taxes are going, not just where they are October 29, 2024 Tomorrow’s Budget announcements will capture immediate attention, but it’s the tax roadmap that could have the most enduring impact, says Chris Sanger The government’s decision to publish a corporate tax roadmap in this week’s Budget is intended to strengthen the UK’s economic foundations and attractiveness as a destination for capital. This move comes at a [...]
YouGov shares jump after revenue and profit growth revealed October 29, 2024 YouGov shares jumped 13 per cent on Tuesday as the data firm reported revenue and operating profit narrowly ahead of full-year expectations. In unaudited results for the year to 31 July, 2024, Yougov posted a three per cent organic revenue increase, with reported revenue up 30 per cent to £335.3m, driven by its recent CPS [...]
Social impact: from employee engagement to meaningful change October 29, 2024 Social impact is a subject close to City AM’s heart, and if the number of nominations we received for this year’s Dragon Awards for Social Impact is anything to go by, it’s something that’s taken seriously by an impressive number of businesses of all sizes. We’ve come a long way over the last 10 or 15 [...]
Why wealth taxes always fail October 29, 2024 Almost every country that has tried imposing wealth taxes has later abolished them, with good reason says John O’Connell Rachel Reeves’ problem tomorrow is a simple one to describe, if not a simple one to solve. How does she raise the revenue needed to fund the spending binges of her colleagues, without raising taxes on [...]
How the politics of your fund manager could affect your portfolio October 28, 2024 Does politics affect the way you invest? It could be impacting how the fund manager that looks after your money does. Fund managers are increasingly managing their portfolios based on their political views, according to a new study from Harvard Business School and Washington University. An analysis of the political leanings of fund managers in [...]
Another investment trust bites the dust: Abrdn’s Asia Dragon set to merge October 28, 2024 Abrdn’s chronically underperforming Asia Dragon trust is set to merge with Invesco’s Asia investment trust. Despite being the larger of the two trusts, the £682m Asia Dragon trust will be taken over by the £219m Invesco Asia trust, which analysts said was due to the latter’s better performance. Abrdn’s Asia Dragon launched a strategic review [...]
Why these City firms will be the winners and losers of Rachel Reeves’s Budget October 28, 2024 Nervousness has gripped the City over the past month. A vacuum of fiscal policy has been filled by speculation and companies are scrambling to draw up plans ahead of a potentially punitive tax-raiding Budget from Keir Starmer and Rachel Reeves. Among the most gloomy warnings have been an inadvertent gutting of London’s junior AIM market [...]
Computacenter issues profit warning as troubles persist October 28, 2024 London-listed tech company Computacenter has slashed its full year guidance after prudent corporate spending and slow completion of orders damaged its third quarter performance. Although it expects to deliver a second half that is comfortably ahead of last year, Computacenter now expects its adjusted profit before tax for 2024 to be “modestly behind last year”, [...]
Budget tax grab will put hospitality jobs at risk, trade groups warn October 28, 2024 UK business leaders have threatened to scale back on jobs growth and investment if business rates relief is not extended in the upcoming Budget.