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Labour will not raise corporation tax above its current rate of 25% during the next parliament, the party has pledged, in an attempt to offer businesses greater certainty – but the promise has prompted warnings about a lack of fiscal flexibility. The shadow chancellor, Rachel Reeves, said the tax pledge included maintaining full expensing, which […]
The hospitality industry has warned of an estimated £350 million hit from the latest train strikes, lifting the cost to businesses to more than £4 billion since the action began. The Night Time Industries Association said it was “deeply concerned” about the “significant repercussions” that industrial action organised this week by Aslef, the train drivers’ […]
Amazon has announced revenues of $170 billion in the final quarter of 2023 thanks to a boost in Christmas shopping. The retail giant’s financial results beat analysts’ expectations and sent shares soaring by more than 8 percent in after-hours trading. Revenue in the fourth quarter rose by 14% compared to the same period last year. […]
Meta shares soared 15 percent in extended trading after the company tripled its profit and posted sharply higher revenue in the final quarter of 2023. The California-based tech giant announced it earned $14 billion, or $5.33 per share, from October to December last year – up from $4.65 billion, or $1.76 per share, a year prior. Revenue, meanwhile, […]
Rightmove has acquired a platform that displays reviews of property developments by residents for £8m. HomeViews Platform has been snapped up by the London-listed property portal while its chief executive, Rory Cramer, will continue in his role. The London-based company refers to itself as the UK’s biggest community of verified resident reviews of property developments […]
Net profits at Ferrari exceeded €1bn (£853.7m) for the first time in its history in 2023, the Italian supercar maker’s chief executive has announced. In a statement, Benedetto Vigna said it had been a “very successful year, during which we strengthened our brand through a number of achievements reflected in our unprecedented financial results.” “For […]
The Bank of England has held interest rates at 5.25% in a decision that saw its rate-setting body split three ways. The Bank admitted it had discussed cutting borrowing costs, with inflation – which measures the pace of price rises – set to fall quickly this year. Bank chief Andrew Bailey said it would wait […]
Large businesses are leasing more office space in London than they were two years ago, despite several high-profile instances of corporate downsizing. HSBC, the bank, and Clifford Chance, the “magic circle” law firm, are among those that have announced moves to much smaller offices in recent months. Nevertheless, even including those changes, the net area […]
A major new independent review into addressing and overcoming the inequality faced by disabled-led businesses has been launched with backing from the UK Government. Disabled entrepreneurs currently account for an estimated 25% of the nation’s 5.5million small businesses but represent only 8.6% of total small business turnover. Small Business Britain estimates suggest that levelling up […]