Britain Financial News
30.10 / 16:45
markets
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Autumn Budget 24: UK stocks rally while gilt yields soar as 'questions remain' around fiscal headroom
According to data from MarketWatch, the FTSE 100 rose by almost 0.4% to over 8,200 as Reeves spoke, a level that has since declined to around 8,174 at the time of reporting. Meanwhile, the FTSE 250 has risen by 1.1% since markets opened this morning (30 October) after falling earlier on Tuesday (29 October). During the chancellor's speech, sterling strengthened against the dollar to above $1.3, having dropped below $1.295 earlier today. Smaller companies also received a boost as the FTSE AIM All Share index rallied by around 3.8% over the course of the chancellor's speech, accord...
30.10 / 16:45
Ten key takeaways from Autumn Budget 2024
Government to raise taxes by £40bn to plug UK's fiscal hole Delivering the Labour Party's first fiscal event since 2010, Reeves told MPs that taxes will be raised by £40bn, one of the largest increases in a generation. Autumn Budget 24: Labour raises lower and higher rates of capital gains tax with immediate effect The chancellor said Britain had inherited broken public finances and public services from the previous government, and pointed once again to the so-called £22bn ‘black hole' in public finances allegedly left by the Conservatives. «Any chancellor standing here today wou...
30.10 / 16:45
Autumn Budget 24: ISA regime left untouched despite financial services agenda pledge
The Treasury set out that annual subscription limits will remain at £20,000 for individual savings accounts, £4,000 for Lifetime ISAs and £9,000 for Junior ISAs and child trust funds until 5 April 2030. Autumn Budget 24: Labour raises lower and higher rates of capital gains tax with immediate effect In the Budget document, the government also confirmed the scrapping of the Great British ISA, introduced by former chancellor Jeremy Hunt back in his Spring Budget in March. This was supposed to give retail investors an additional £5,000 annual allowance to invest in British companies. ...
30.10 / 16:45
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Autumn Budget 24: Reeves' 'tough' Budget not as bad as feared despite UK ushering in largest tax hikes in a generation
For the first time in 14 years, Labour had a chance to put into action its economic vision for the country, which Reeves said aimed to «restore stability to our economy and to begin a decade of national renewal, to fix the foundations and deliver change through responsible leadership in the national interest». «The only way to drive economic growth is to invest, invest, invest,» she declared from the despatch box. «There are no shortcuts. And to deliver that investment, we must restore economics, stability and turn the page.» Autumn Budget 24: Government to raise taxes by £40bn to ...
30.10 / 16:45
Autumn Budget 24: Non-dom status abolished from April 2025
Announced in the Autumn Budget today (30 October), Chancellor Rachel Reeves says she will remove the «outdated concept» of domicile from the tax system from April 2025. She says she will introduce a new, residence-based scheme with «internationally competitive arrangements» for those coming to the UK on a temporary basis. The move will remove the 50% discount on foreign income in 2025/26, apply inheritance tax, set the capital gains tax rebasing date at 5 April 2017, and extend the Temporary Repatriation Facility from two to three years. The Office for Budget Responsibility said th...
30.10 / 16:45
UPS
Autumn Budget 24: Income tax threshold freeze to be lifted in 2028/29
In the first Labour Budget for 14 years, Chancellor Rachel Reeves says economic stability must be restored. But extending the income tax freeze would hurt working people, the chancellor said. Reeves, the UK's first female chancellor, has already confirmed that the National Living Wage will rise in April, with rates for over-21s set to go up to £12.21 an hour, an increase of 6.7%. In addition, the National Minimum Wage will rise for people aged between 18 and 20 years old from £8.60 to £10. Apprentices will get the biggest pay bump, with hourly pay increasing from £6.40 to £7.55. ...
30.10 / 15:33
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Sigh of relief for UK tech founders as Labour hikes capital gains tax by less than feared
LONDON — Britain's Labour government on Wednesday announced plans to raise the rate of capital gains tax on share sales, news that offered some relief for technology entrepreneurs who feared a more intense tax raid on the wealthy.
30.10 / 15:09
30.10 / 15:01
Autumn Budget 24: Government to raise taxes by £40bn to plug UK's fiscal hole
Delivering the Labour Party's first fiscal event in 14 years, she told MPs in parliament today (30 October) that taxes would need to be raised by £40bn, one of the largest increases in a generation. «Any chancellor standing here today would have to face this reality, and any responsible chancellor would take action,» she said during her speech. «That is why today, I am restoring stability to our public finances and rebuilding our public services.» The chancellor said Britain had inherited broken public finances and public services from the previous government, and pointed once again ...
30.10 / 15:01
Autumn Budget 24: Reeves promises to meet changed fiscal rules by 2030
Delivering the Labour party's first Budget since 2010 today (30 October), Reeves said the Labour party cannot undo «14 years of damage in one go». However, the chancellor's new «stability rule» will «bring the current Budget into balance, so that we do not borrow to fund day-to-day spending», she added, while her fresh «investment rule» will change the way debt is measured in the UK. «We will meet this rule in 2030 until that becomes the third year of the forecast. From then on, we will balance the current Budget in the third year of every Budget held annually each autumn,» Reeves d...
30.10 / 14:37
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Reynolds and McElhenney buy Wrexham Lager brewery after rejuvenating the city's soccer team
Ryan Reynolds and Rob McElhenney have bought another piece of Wrexham — its brewery
30.10 / 14:37
30.10 / 13:45
markets
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wellness
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International
Why King Charles, Queen Camilla visited Bengaluru's SOUKYA health centre; Here's royal couple's itinerary
This was not the King's first visit to the 'SOUKYA', International Holistic Centre at Samethanahalli. He celebrated his 71st birthday here in 2019. It is run by Dr Issac Mathai, who is among the few individuals from India invited to attend his coronation as the UK's King on May 6 last year. «The couple underwent therapeutic yoga, enjoyed a strictly vegetarian diet with eggs. They underwent rejuvenative treatment, which also included meditation and therapies,» an official at the facility said. «The King received wellness treatment, including Ayurveda, Homeopathy and Naturopathy.»
30.10 / 12:29
30.10 / 12:29
30.10 / 12:29
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Myanmar
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New sanctions target Myanmar's military suppliers
Opponents of Myanmar’s military government have welcomed the latest sanctions imposed by the European Union, the U.K. and Canada on individuals and entities supplying aviation fuel and equipment to the army
30.10 / 10:57
markets
UPS
Digital
Strategy
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PAM
Nazara subsidiary Datawrkz acquires growth marketing agency Space & Time
Datawrkz, a subsidiary of listed gaming and media firm Nazara Technologies, on Wednesday said it has fully acquired UK-based growth marketing agency Space & Time. The deal was valued at around Rs 52.3 crore, it said in an exchange filing. The company said acquiring Space & Time will help in expanding across Europe and North America and boosting its growth in the global digital advertising market. It will also boost Datawrkz’s revenue and earnings before interest, taxes, depreciation and amortisation (Ebitda) through cross-selling of products and services, it said.
30.10 / 10:37
markets
CEO
FCA's Rathi calls for new approach to UK private markets to boost competition
In his speech delivered at the Investment Association annual dinner on Tuesday (29 October), the FCA CEO questioned whether the starting point for investors should be «to worry about growing private markets creating risks outside the banking system». The other option, according to Rathi, would be «to focus on the opportunity to unlock capital for infrastructure and growth». «It is time to reset our narrative. But not in a way that is oblivious to risk,» he said, urging for data transparency, which could «build a system-wide picture of risks, and to be clear about who owns them». FC...
30.10 / 07:21
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International
France announces new investments in disputed Western Sahara
A French delegation visiting Morocco with President Emmanuel Macron has unveiled investment plans in the disputed Western Sahara as part of a broader suite of agreements and partnerships between the two countries
30.10 / 04:17
markets
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Chhoti Diwali Images: Best 50+ Happy Chhoti Diwali 2024 Images, Whatsapp status, greetings in english & hindi for friends and family
Choti Diwali, also known as Naraka Chaturdashi, is observed on the second day of the five-day Diwali festival. The day celebrates the victory of light over darkness and good over evil. According to tradition, it is believed that Lord Krishna defeated the demon Narakasura on this day. The celebration involves lighting diyas, exchanging sweets, and bursting fireworks.
30.10 / 01:23
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Gold, Lindy effect, Warren Buffett, and why ignorance is not bliss
Subscribe to enjoy similar stories. Ignorance is bliss and little knowledge is a dangerous thing. The English language has a pithy saying for almost every occasion.
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