Anthony Scaramucci, former White House communications director and founder of SkyBridge Capital, has warned that a proposed capital tax on unrealised gains could severely damage US capital markets. In an exclusive interview with Saxo for their US Election Hub, Scaramucci expressed scepticism over the feasibility of the tax, introduced by Kamala Harris, suggesting it would […]
Cyclists should consider taking out insurance to safeguard themselves and pedestrians, according to John Neal, the chief executive of Lloyd’s of London, the world’s largest insurance market. Neal’s comments come in response to a series of serious accidents involving cyclists, sparking renewed debate about the need for mandatory insurance. Describing the idea of insurance for […]
Topshop and Topman, once among the UK’s most iconic clothing brands, are set for a comeback as their website is relaunched following ASOS’s sale of a majority stake in the brands for £135 million. Danish clothing group Heartland, the parent company of Bestseller, will hold a 75% stake in the joint venture, while ASOS will […]
Labour’s plan to mandate that developers build affordable housing on at least 50% of “grey belt” land could render 80% of small development sites unviable, according to research by tech firm Viability. The study suggests that reducing the requirement to 35% would significantly improve feasibility, making 30% of sites viable for small developers. Viability analysed […]
The proportion of former rental properties entering the sales market has reached a record high, driven by landlords’ concerns over a potential rise in capital gains tax (CGT) in the forthcoming budget, according to property website Rightmove. Currently, 18% of properties for sale were previously rented out, compared to just 8% in 2010. London has […]
Despite a washout summer, high interest rates, and looming tax hikes, Brits are spending more on small luxuries such as pastries and cosmetics, a trend Barclaycard has dubbed the “sweet treat economy.” According to Barclaycard, consumer card spending rose by 1% in August following two months of decline, with nearly half of surveyed individuals (47%) […]
The Post Office handled a record £3.7 billion in cash transactions in July, surpassing previous highs set in May, April, and December, as the closure of bank branches continues at an unrelenting pace. Since 2015, over 6,000 bank branches have closed across the UK, averaging about 50 closures per month. In response, banking hubs have […]
Flight Centre Travel Group has reported a 10% year-over-year increase in total transaction value for its global corporate business in the 2024 fiscal year, ending June 30, driven significantly by wins among SMEs. The company’s corporate business, which includes SME-focused Corporate Traveler and large-market-focused FCM, reported a total transaction value of approximately $8.2 billion, marking […]
The UK Government has launched nine new artificial intelligence (AI) training courses for Civil Servants, aimed at enhancing digital skills and improving efficiency across the public sector. Led by the Cabinet Office and Government Skills, the courses are designed to prepare civil servants for the growing impact of AI in government operations. The training covers […]
Clean energy funds, once a favourite in the investment trust landscape, are poised for a resurgence as lower interest rates reignite investor interest. After years of high premiums and booming demand driven by environmental, social, and governance (ESG) concerns, the sector has faced headwinds from rising rates and easing power prices. However, with the Bank […]