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Economy
UK Companies Grapple with Rising Costs from Budget Changes
The recent UK Autumn Budget has left many of Britain's largest employers reeling as they face over £500 million in additional costs. Major companies across retail, hospitality, and telecommunications sectors are warning that the changes may…
Labour Chancellor Rules Out Future Tax Rises in Defiant Treasury Statement
Rachel Reeves, the Labour Chancellor, has made an unequivocal commitment to maintain current tax levels during the next budget, emphasising the government's dedication to fiscal responsibility within established spending parameters.…
Trump Victory Sends Global Markets Into Strategic Repositioning Mode
Financial markets responded decisively to Donald Trump's comfortable victory in the US presidential election, with swift movements across asset classes signalling investors' expectations of significant policy shifts ahead.
The immediate…
Persimmon Warns of £15 Million Pound Hit from National Insurance Changes
Britain's leading housebuilder Persimmon has cautioned shareholders about an anticipated £15 million impact from national insurance contribution changes, alongside other rising costs that will affect profit margins in the coming year.…
Bank Of England Set For Second Interest Rate Cut To 4.75 Per Cent
The Bank of England stands ready to implement its second interest rate reduction of the year, with economists widely expecting a cut to 4.75 per cent at Thursday's meeting. The nine-member Monetary Policy Committee (MPC) is predicted to…
Dollar And Bitcoin Surge As Trump Returns To White House And Global Markets React
Global financial markets experienced significant shifts today as Donald Trump secured his return to the presidency, triggering substantial gains in the US dollar, Bitcoin, and Treasury yields while sending ripples through international…
Primark Owner Signals Potential Shift in Investment Strategy Amid Rising UK Taxes
In a surprising turn of events, the owner of popular fast-fashion retailer Primark has indicated that future investments may be directed away from the United Kingdom due to increasing tax burdens. This development raises concerns about the…
Hospitality Sector Faces Critical Challenges as Budget Impacts Force Investment Cuts |
British hospitality businesses are entering survival mode following a staggering £3 billion surge in tax and wage costs imposed by last week's budget, industry leaders have warned. The severity of the situation became apparent during a…
Following “Shock and Awe” Budget Demand for UK Government Bonds Falters
In the wake of the UK's recent "shock and awe" budget announcement, the financial markets have been closely watching the government bond sector. The latest developments indicate a significant shift in investor sentiment, with demand for…
British Labour Government Launches Historic Four Day Week Trial With One Thousand Workers
In a significant move towards revolutionising the British workplace, one thousand UK workers are set to participate in the inaugural four-day week trial under the Labour government's watch. The groundbreaking initiative, commencing Monday,…
UK Investors Dump £1 Billion Sterling from Funds Ahead of Budget Tax Changes
British investors withdrew nearly £1 billion from UK-focused stock funds in October, acting pre-emptively to avoid increased capital gains tax rates announced in Rachel Reeves' autumn budget.
Data from Calastone, the world's largest…
Gig Economy Platform Accused of Promoting Tip Law Avoidance Schemes to UK Hospitality Sector
A controversial gig economy platform has come under intense scrutiny for allegedly encouraging hospitality businesses to circumvent the UK's newly implemented fair tipping legislation and upcoming zero-hours contract regulations through its…
Russian Exporters Turn to Soviet Era Barter System as Western Sanctions Bite
Russian exporters are increasingly embracing barter trade arrangements to circumvent payment delays stemming from Western sanctions imposed following Moscow's invasion of Ukraine. The shift comes as foreign banks distance themselves from…
Fed Set To Cut Interest Rates By Quarter Point Despite US Election Uncertainty
The Federal Reserve appears ready to implement a quarter-point reduction in its benchmark policy rate next week, maintaining its strategic direction despite a skewed employment report and clouded economic policy outlook surrounding the…
Chinese Government Intensifies Tax Collection Drive on Wealthy Citizens and Corporations
Chinese authorities have launched an aggressive campaign to recover unpaid taxes from wealthy individuals and corporations, signalling a significant shift in the nation's fiscal policy amid economic pressures. The move comes as local…
UK Government Borrowing Costs Surge to Year High as Labour Budget Triggers Market Concerns
British government bonds faced intense selling pressure on Thursday, driving borrowing costs to their peak levels for 2024, as investors grappled with the implications of Rachel Reeves' expansionary Budget plans. The 10-year gilt yield…
Labour Budget 2024 Delivers Historic Tax Overhaul and Economic Reforms
In a landmark fiscal announcement, Labour's Chancellor Rachel Reeves has unveiled a transformative budget featuring £40 billion in tax increases, marking a significant departure from previous Conservative policies. The comprehensive package…
British Tax Burden Inches Closer to European Union Average in Historic Shift
The United Kingdom's escalating tax burden has pushed government revenues nearer to European Union levels than witnessed in decades, marking a significant transformation that Labour's Rachel Reeves is poised to amplify with substantial tax…