Author: WTX Business Team

Reuters exclusively reported that social media researchers have canceled, suspended or changed more than 100 studies about X, formerly Twitter,
The post Elon Musk’s X restructuring curtails disinformation research, spurs legal fears  appeared first on Reuters News Agency.

The Financial Times reports Chancellor Jeremy Hunt is looking at cutting business and inheritance taxes in the Autumn Statement in a move he hopes will reverse the Tory party’s tumbling poll ratings.

FTX founder Sam Bankman-Fried was found guilty on Thursday of stealing from customers.

Nvidia’s plans to develop PC chips using Arm technology that run Microsoft Windows as early as 2025.
The post Nvidia to make Arm-based PC chips in major new challenge to Intel  appeared first on Reuters News Agency.

CITY AM SAYS Younger lawyers are asking to duck out of work on clients who clash with their ‘ethical’ standards, a new survey has revealed.

The Sterling currency dropped to its lowest level in almost two months yesterday, while British stocks and bonds gained strength.

The Financial Times reports Rishi Sunak has vowed to introduce emergency legislation to rescue the government’s plan to send asylum seekers to Rwanda.

The Financial Times reports on a jump in the US stock markets following a larger-than-expected fall in inflation.

New data shows a sharp fall in UK inflation, down to 4.6%. It’s the lowest rate since November 2021, the rate in September was 6.7%. 

CITY AM SAYS Rishi Sunak’s reshuffle was his third attempt to relaunch the Conservative Party, and this time he’s also reheating David Cameron’s career, writes Will Cooling

The Financial Times leads on the big news from Monday’s cabinet reshuffle.

CITY AM SAYS Deputy Prime Minister Oliver Dowden has announced plans to streamline and enhance the business-friendliness of the UK’s investment screening powers, just under two years since their inception.

The Financial Times leads on the conflict in the Middle East, with officials in Washington warning Israel not to fire on hospitals in Gaza.

Ex-NatWest boss loses out on £7.6m payout after Farage row Dame Alison Rose will lose out on £7.6m after she admitted to discussing the closure of Nigel Farage’s bank account. The former NatWest boss will receive her £2.4m fixed pay package, but will not benefit from share awards and bonuses she had been previously entitled to. Dame Alison quit in July after she spoke about Farage’s Coutts bank account – Coutts is owned by Natwest. NatWest said Dame Alison had not been given “good leaver” status. If she had she would have been entitled to receive the entire amount which,…

CITY AM – This is not just a dividend M&S reinstates dividend and CEO Stuart Machin promises he’s not done yet CITY AM SAYS Marks and Spencer (M&S) racked in hefty profits during the half year, as the firm’s reshaping programme continues to show signs of paying off. The Percy Pig maker posted profit before tax of £360.2m up nearly £100m on last figures of £205.5m. M&S also reported a 14.7 per cent rise in food sales as its investment in price cuts and improving quality drove shoppers to its aisles, it said in a trading update to markets this…

Elementor #561819November 9, 20231 Min Read Summary of the Top 6 headlines today Financial Times – SoftBank pays $1.5bn to WeWork’s banks days before bankruptcy filings The Financial Times says SoftBank was forced to wire $1.5bn to Goldman Sachs and other lenders just days before WeWork filed for bankruptcy, as the cost of one of the worst venture capital investments in history mounts for the Japanese group.The paper says the payment takes the total that SoftBank has committed to WeWork to more than $16bn since an initial investment in 2017, a move it says has proved “one of the worst venture…

King’s Speech begins countdown to next UK general election The FT says King Charles III started the countdown to the next UK election on Tuesday, setting out 21 pieces of legislation that Prime Minister Rishi Sunak hopes to define his priorities and sharpen dividing lines with Labour. But many Tory MPs gave the package of bills in the King’s Speech a lukewarm reception, while Downing Street was forced to put the brakes on controversial plans to crack down on rough sleeping. The King’s Speech, the first delivered by a male monarch in more than 70 years, was laden with political…

Elementor #561513 November 8, 20231 Min Read Summary of the Top 6 headlines today Financial Times – Accounting watchdog scraps plans for full-scale overhaul of boardroom rules The Financial Times reports Britain’s accounting watchdog has abandoned most of its overhaul of boardroom rules, a move that it says protects competitiveness but which critics say marks the unravelling of long-promised corporate governance reforms. The paper says the scrapped plans include greater requirements for diversity reporting and new responsibilities around environmental, social and governance issues. The body’s chief executive, Richard Moriarty, is quoted saying the changes will support “UK economic growth and…

House prices rise for first time in six months, says Halifax Halifax reports that house prices rose in October for the first time in six months, but it expects values to fall over the next year. Halifax – the UK’s largest mortgage lender – said prices rose 1.1% last month, taking the average property value to £281,974. But the rise is due to a lack of homes for sale and the demand from buyers remaining weak. It expects prices to fall until 2025, with buyers facing higher interest rates and cost of living pressures.  House prices in October were down…

The Financial Times says former US President Donald Trump “turned a New York courtroom into a political theatre”.

At least one person suffered from a ‘minor oral injury’ from the metal, the US Department of Agriculture (USDA) said.

‘We are already cracking down on those who try to exploit the welfare system in a push to save the taxpayer £1.3bn in the next year.’

THE ECONOMIST SAYS Even as wars rage and the geopolitical climate darkens, the world economy has been an irrepressible source of cheer.

CITY AM SAYS New figures out on Friday are expected to show that the economy contracted in the third quarter, raising the possibility that the UK is already in a recession.

Energy secretary admits Rishi Sunak’s north sea oil expansion plans ‘won’t bring bills down’ The Independent says The energy secretary has admitted that Rishi Sunak’s flagship energy policy will not bring household bills down. Claire Coutinho was quizzed about the government’s plans to expand North Sea oil and gas exploration expected to be announced in the King’s Speech tomorrow. The prime minister will declare the drive, which would invite annual applications for new licences to drill for oil and gas, will protect jobs and boost energy security “without adding undue burdens on households”. https://www.independent.co.uk/news/uk/politics/energy-bills-oil-gas-sunak-net-zero-b2442312.html