Browsing: Business News

A handful of millionaires attendees gathered in Davos are calling on world leaders to push tax up higher for wealthy people (like themselves) to tackle the cost of living crisis.

The Guardian says Boris Johnson hopes to blunt calls for urgent action on the cost of living crisis by stressing that work is the best route out of poverty, as an energy firm boss warned that 40% of households could soon be in fuel poverty.

The Guardian says consumer confidence in the UK has fallen to the lowest level since records began in 1974 amid growing concern over the cost of living crisis.

The Independent says the director of a multi-million dollar ad campaign for a bitcoin exchange has said he has “no idea how cryptocurrency works” after being questioned about the recent market crash.

BBC Sport says ministers are facing growing calls to bring forward large increases in benefits and the state pension which will be paid from next April.

The Guardian says UK inflation soared to 9% in April – its highest level for more than 40 years – as the rising cost of gas and electricity pushed household energy bills to record levels.

The Guardian says the Bank of England governor has warned that “apocalyptic” food prices caused by Russia’s invasion could have a disastrous impact on the world’s poor.

The Guardian says Elon Musk has suggested that he could seek to pay a lower price for Twitter, as the social media company’s would-be owner expressed further concerns about the presence of fake accounts on the platform.

BBC News says some of the poorest households in England and Wales are struggling to access council tax rebates to help offset their soaring energy bills, a charity has warned.

Fast food giant McDonald’s has announced it will permanently leave Russia after more than 30 years and has already started selling its restaurants there.