A High Court battle is set to determine whether Azzurro Associates, a debt buyer ultimately owned by the hedge fund Elliott Management, has the right to pursue two small business directors for repayment under personal guarantees initially arranged through Funding Circle. The case, closely watched by the alternative lending industry, centres on claims that potential […]
Tesla, the electric vehicle (EV) powerhouse led by Elon Musk, delivered an average of 4,889 vehicles a day in 2024, even as its full-year figures dipped slightly from 2023. New research suggests that while headlines have focused on talk of an ‘EV winter’, quarter-by-quarter data shows a steadily improving trend through 2024—a signal that the […]
An estimated 1.1 million people in the UK missed the 31 January cut-off for submitting their annual self-assessment tax returns, according to HM Revenue and Customs (HMRC). Each late filer now faces a penalty of at least £100, unless they can prove they had a valid reason for their delay. HMRC revealed that more than […]
Emmanuel Macron is poised to tell Sir Keir Starmer that the UK’s appearance at a key EU summit on Monday signals the failure of Brexit, according to senior diplomats. Britain’s prime minister will be the first UK leader to join an EU Council dinner since the country left the bloc in 2020—a symbolic step that […]
From Saturday, the cost of wine and spirits will climb as the government raises alcohol duty in line with inflation and implements new rules linking tax levels to the strength (ABV) of each drink. While trade bodies warn that this will be a “bitter blow” for the sector, the duty on draught pints is set […]
Roman Abramovich, the sanctioned Russian oligarch, is facing renewed scrutiny after a group of MPs urged HM Revenue & Customs (HMRC) to investigate allegations that he may owe up to £1 billion in unpaid taxes. The intervention follows reports by the BBC and the Bureau of Investigative Journalism indicating that offshore investments worth billions of […]
Millions of UK taxpayers remain at risk of a £100 fine if they fail to file their online self-assessment tax returns by midnight tonight, according to HM Revenue & Customs (HMRC). The warning comes as more than three million people have yet to submit their returns for the 2023-24 tax year, prompting HMRC to advise […]
US President Donald Trump has reaffirmed plans to impose 25% border taxes on imports from Canada and Mexico, effective 1 February, but left open whether the measures will extend to oil shipments. He said the decision, aimed at curbing undocumented immigration, fentanyl trafficking and trade deficits, is necessary to safeguard US interests and borders. Speaking […]
Homebase collapsed into administration in November, revealing it owed more than £650 million to unsecured creditors including AO World, Halfords, and The Hut, according to documents newly filed at Companies House. Teneo, the appointed administrator, disclosed that unsecured non-preferential creditor claims totalled £657 million—a sum that includes around £100 million owed to trade creditors. Unsecured […]
OpenAI, the maker of ChatGPT, is in discussions to raise close to $40 billion in fresh funding—almost doubling its valuation to as high as $340 billion, according to reports. The San Francisco-based company was last valued at $157 billion in October, when it secured $6.6 billion of investment. Microsoft led a previous round of financing […]