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.
Author: WTX Business Team
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. But it came against a backdrop of lower growth forecasts. The measures announced in the budget were designed to persuade domestic firms to invest more.
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 partnership with Roy Morgan. The association estimated this would account for more than a quarter of all holiday purchases this year, as price-conscious shoppers use…
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 a year. The new average figure largely reflects higher wholesale costs heading in to the cold winter months and also includes a shift in Ofgem’s…
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 October it is to rise by £94 in January, after a jump in wholesale gas and electricity prices. This leaves the majority of households facing…
“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 that domestic price pressures remained strong. “We are concerned about the potential persistence of inflation as we go through the remainder of the journey down…
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 can reject their current employer’s scheme and ask instead for contributions to go to another arrangement. The new approach, modelled on how pensions work in…
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 a post on social media. He added: “I love OpenAI, and everything I’ve done over the past few days has been in service of keeping…
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.
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 introducing measures to “unlock growth”. “I think it’s important for a productive, dynamic, fizzing economy that you motivate people to do the work, to take…
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.
