CITY AM SAYS Soaring rents in London pose a “threat” to the capital’s competitiveness, a number of top business groups have warned, amid fears that young professionals are increasingly being priced out of the capital.
Author: WTX Business Team
A funding boost could spell a boom time for British EV car manufacturing.
The Financial Times says investors are piling into risky assets amid a growing belief that the Federal Reserve and other central banks are close to winning their long-running battle with inflation.
The Financial Times splashes on allegations made by US federal prosecutors that an Indian government official orchestrated a plot to kill a Sikh separatist activist in New York.
The Financial Times leads on the news that Barclays is considering dropping thousands of clients at its investment bank as part of an overhaul aimed at boosting profits.
The Financial Times leads on reports that Turkey’s continued exports to Russia of vital war goods have caused tensions to flare between Ankara and several of its NATO allies.
Reuters was first to report that Nvidia (NVDA.O) has told customers in China it is delaying the launch of a new artificial
The post Nvidia delays launch of new China-focused AI chip appeared first on Reuters News Agency.
RUBBER group Sri Trang Agro-Industry on Monday (Nov 27) reported a net loss of 410.2 million baht (S$15.6 million) for the third fiscal quarter ended September.
CITY AM SAYS Some of the world’s biggest businesses have committed to invest a total of nearly £30bn in Britain.
The agreement at the conference of the parties (cop) to the UN Framework Convention on Climate Change, which took place in Paris in 2015, was somewhat impotent.
The Financial Times splashes on comments from Qatar saying that Hamas must find dozens of hostages if they hope to extend the truce with Israel.
Sunak welcomes foreign firms’ £29.5bn ‘vote of confidence’ Prime Minister Rishi Sunak is set to host a group of leading business figures on Monday to highlight plans for foreign firms’ to invest in the UK. Sunak said £29.5bn of new investment had been promised, which he described as a “huge vote of confidence” in the UK economy. Chancellor Jeremy Hunt’s Autumn Statement, released last week, included a raft of measures to encourage more business investment. …
GOLD prices rose on Monday well above a key US$2,000 level, supported by a weaker US dollar and on bets that the US Federal Reserve is done with its interest rate hike cycle.
CITY AM SAYS As the dust settles on Jeremy Hunt’s Autumn Statement, it has become increasingly clear that the Chancellor has taken a big bet.
Black Friday: Australian shoppers tipped to spend more than $6bn in four-day sales period The Guardian says Retailers say Black Friday has gotten off to a strong start, with Australians tipped to spend a record amount as they seek savings during the cost-of-living crisis. The Australian Retailers Association (ARA) has predicted shoppers will spend $6.36bn across the four days between Black Friday and Cyber Monday, up 3% from last year, according to their research in…
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
The post Google in talks to invest in AI startup Character.AI appeared first on Reuters News Agency.
The front page reports 500 employees have threatened to walk as workers also demand the board quit.