Energy price cap: Average annual bill to rise by £94 from January, Ofgem announces Sky News says The energy price cap is to rise to an annual average of £1,928 from January, the sector’s regulator has announced. Ofgem said a typical household paying by direct debit for gas and electricity faces forking out 5% more when compared to the annual cap figure covering September to December, which equates to £94 more over the course of…
Ofgem energy price cap: what does the new year rise mean for households? The Guardian says The Ofgem price cap is climbing again and will rise to £1,928 a year for a typical annual energy bill in Great Britain when it is adjusted in January. Soaring energy bills have made the price cap set by the energy regulator a closely watched figure. The bad news is that after dropping back to £1,834 a year in…
“Tax burden surged despite Hunt cuts,” writes the Financial Times, as it reports that the chancellor has cut business and personal taxes by £20bn in the autumn statement.
The government will commit to the triple lock pension.
CITY AM – Clear As Mud City is ‘paying too much attention’ to inflation data, says bank governor CITY AM SAYS The Bank of England governor Andrew Bailey further confused the City yesterday on the future path of interest rates, speculating that inflation could be more persistent than the Square Mile expects. Although the headline rate of inflation fell to 4.6 per cent in October from 6.7 per cent the month before, Bailey pointed out…
Financial Times – Hunt to put £9bn a year tax break for business at core of growth drive
Pensions overhaul in Autumn Statement will cost workers tens of thousands, says ex-pensions minister The i newspaper reports The Government’s plan to introduce one pension pot for life could leave workers tens of thousands of pounds worse off in retirement according to a former pensions minister. The Chancellor, Jeremy Hunt, is expected to announce in Wednesday’s Autumn Statement a radical change in pension saving, introducing a “pot for life”. The change will mean that workers…
Sam Altman returns to OpenAI after being ousted by board Sacked Sam Altman will return as CEO of OpenAI just days after the board fired him, the firm has said. The agreement “in principle” involves a new board being installed the tech company added. Altman was sacked on Friday, which prompted an open letter from staff who threatened to resign unless he was reinstated. “I am looking forward to returning to OpenAI,” Altman said in…
Reuters exclusively reported that Google is in talks to invest hundreds of millions of dollars in Character.AI, as the fast
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The front page reports 500 employees have threatened to walk as workers also demand the board quit.
Points need to be swapped by this Friday!
CITY AM – Hunt hints at tax cuts for UK businesses Hunt says his ‘priority is backing British business’ as he hints at tax cuts CITY AM SAYS Jeremy Hunt has hinted that the autumn statement may contain more tax cuts for businesses in a bid to fire up the UK’s economy. Just days ahead of Wednesday’s landmark fiscal event, the Chancellor, speaking on Times Radio, said that his “priority is backing British business” and…
The Financial Times reports that pressure is mounting on the board of OpenAI, the company behind ChatGPT, to reinstate Sam Altman as chief executive.
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.
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