Business groups have urged the government to make permanent a new £9 billion-a-year capital allowances scheme designed to stimulate investment. The chancellor yesterday announced a new “full expensing” policy for the next three years under which businesses can deduct 100 per cent of the cost of capital spending for certain plant and machinery against taxable […]
NatWest is limiting the amount of money customers can transfer to cryptocurrency exchanges. From today, customers will be able to transfer a maximum of £1,000 a day to such exchanges, and no more than £5,000 per month. The bank says it is to protect customers from “crypto-criminals” seeking to scam them. Most cryptocurrencies are not […]
The number of companies entering insolvency rose by almost a fifth last month as a result of the cost of living crisis and higher interest rates. Registered company insolvencies increased by 17.5 per cent year-on-year to 1,783 in February, according to figures from the Insolvency Service. Nicky Fisher, vice-president of the restructuring industry body R3, […]
The owner of Facebook and Instagram will cut another 10,000 jobs, months after laying off 11,000 staff, as the technology group prepares for years of economic disruption. Meta Platforms unveiled a fresh wave of redundancies as it battens down the hatches, announcing it would also shut about 5,000 additional vacant roles that it had not […]
The chancellor will promise to provide 30 hours of childcare a week to parents of one and two-year-olds. The announcement is part of a £4bn expansion of free childcare for one- and two-year-olds in England is expected to be announced in the today’s budget as part of a wider drive to help people into work […]
The UK and US will “work through” concerns about Joe Biden’s multibillion-dollar package of green subsidies, Rishi Sunak revealed ahead of talks with the US president today in San Diego. The Prime Minister welcomed the Biden administration’s commitment to tackling climate change, but confirmed the UK had already raised concerns about the measures in the […]
Ahead of the Spring Budget, new data reveals that small to medium sized business (SMEs) have lost confidence in the Government’s commitment to support them. In a survey of SMEs from across the UK, four in five of respondents said they don’t think the government is providing enough support for SMEs. Meanwhile, two thirds are […]
Gary Lineker and BBC management have reached a deal to get the presenter back on air, after the weekend’s disruption to BBC Sport schedules. Director General Tim Davie says: “Gary is a valued part of the BBC and I know how much the BBC means to Gary, and I look forward to him presenting our […]
Business confidence in Britain is rising, the latest economic surveys suggest. With expectations of future activity picking up sharply from a record low in October in the wake of the ill-fated Truss/Kwarteng administration and its much-criticised mini-budget, a survey by Accenture and S&P Global, the corporate advisers, has found that business confidence is at its […]
US regulators have shut down Silicon Valley Bank (SVB) and taken control of its customer deposits in the largest failure of a US bank since 2008. The moves came as the firm, a key tech lender, was scrambling to raise money to plug a loss from the sale of assets affected by higher interest rates. […]