It may have been billed a mini-budget, but what Kwasi Kwarteng announced on Friday was massive. A package of tax cuts on a scale not seen for half a century, paid for through borrowing at increasingly expensive rates in the hope that it will deliver better growth. This is an administration that promised “shock and
Month: September 2022
We all know the famous artists whose work sells for millions – Salvador Dali, Andy Warhol, Damien Hirst, David Hockney, Pablo Picasso and Jeff Koons to name but a few. It doesn’t take a genius to spot the common denominator – they’re all men. Now new research has found that despite leaps in gender equality
The chancellor has denied suggestions he is gambling with the economy as his raft of tax cuts were met with a hostile reception – and sent the pound plummeting to a 37-year low. The Institute of Fiscal Studies (IFS) said he was “betting the house” by putting government debt on an “unsustainable rising path”. Only
In this article GOOG Follow your favorite stocksCREATE FREE ACCOUNT Alphabet CEO Sundar Pichai gestures during a session at the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. Fabrice COFFRINI | AFP | Getty Images As Google tries to navigate an unfamiliar environment of slowing growth, cost-cutting and employee dissent over
The growth plan outlined by the chancellor to lift the UK from the depths of the cost of living crisis and back to prosperity has been met with horror on financial markets, with the pound taking a particular hammering late in the day. Sterling, bonds and share values all fell sharply in the wake of
Tesla has started sending out invites for its AI Day 2022, and the automaker is teasing more information on Full Self-Driving, Tesla Bot, Dojo, and more. While it has been a long time since Tesla had a proper product unveiling event, the company started to hold somewhat regular annual events with specific subjects at the
U.K. Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cap the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — The new U.K. government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country’s
Double Booker Prize winner Dame Hilary Mantel, author of the epic Wolf Hall trilogy, has died aged 70. In a statement, her publisher 4th Estate books said: “We are heartbroken at the death of our beloved author, Dame Hilary Mantel, and our thoughts are with her friends and family, especially her husband, Gerald. “This is
In the end, Kwasi Kwarteng’s statement indeed cost more than £2 billion a minute and turned politics on its head. Threads that linked the three preceding Tory governments since 2010 were severed, while slogans, billboards and arguments about what it has meant in recent years to vote Conservative clattered into the waste bin. The new
Specks of dust retrieved by a Japanese space probe from an asteroid some 300 million kilometres from Earth have revealed a surprising component: a drop of water, scientists said Friday. The discovery offers new support for the theory that life on Earth was seeded from outer space. The findings are in the latest research to
Officials in Alabama have halted the lethal injection execution of a prisoner on death row because they couldn’t find a vein before the midnight deadline. Alabama corrections commissioner John Hamm said the decision to call off the scheduled execution of Alan Miller was made after it became clear they could not get the process under
Stormzy has sparked a rapturous response online with the surprise release of a new 11-minute music video featuring a plethora of cameos including Usain Bolt, Jose Mourinho and Louis Theroux. Mel Made Me Do It is the rapper’s first solo effort in nearly three years and its sharp, twisting rhymes put his songwriting prowess and
Income tax will be cut by one penny, Chancellor Kwasi Kwarteng has announced, as part of a raft of measures aimed at boosting economic growth. The reduction in the basic rate from 20% to 19% will be introduced in April 2023 – one year earlier than planned. At the same time, the 45% top rate
Here are the key points from Chancellor Kwasi Kwarteng’s mini-budget statement to MPs: • The basic rate of income tax will be cut to 19p in the pound from April 2023. Will mean 31 million people will be better off by an average of £170 per year. • The 45% higher rate of income tax
Owning a Jeep comes with the perk of being able to drive both on and off-road. To accommodate its drivers who tend to take the road less traveled, Jeep released plans to roll out solar-powered EV chargers across popular off-roading trails. Meanwhile, Rivian, a new favorite in the EV industry and expected competitor in the
Jose A. Bernat Bacete | Moment | Getty Images The vast majority of Americans support both corporate transparency on climate as well as federal requirements for corporations to disclose their climate data, from emissions to emission reductions to sustainability programs and climate commitments. But although many corporations are improving on these pledges, some sectors are
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