Newsletter Nov 18, 2022

More Britons to pay top income tax rate in budget squeeze

More Britons will pay the top rate of income tax under government plans announced on Thursday to freeze allowances and lower the level at which people start to pay the highest rate as part of measures to stabilise public finances.

Britain softens business rates blow with 13.6 billion stg support package

Britain will provide 13.6 billion pounds ($16.1 billion) of support to retail, hospitality and leisure companies facing higher business rate bills next year, to help them through the recession and a fall in consumer spending.

As recession looms, British business sends out lending SOS

As inflation rockets and recession looms, many British businesses are struggling to secure affordable bank finance, piling pressure on the embattled UK government as it unveiled a budget aimed at reviving the economy.

Dollar on track for weekly gain as Fed pushes back on pivot

The dollar was headed for its best week in a month on Friday, as hawkish remarks from Federal Reserve officials and stronger-than-expected retail sales data have put the brakes on a pullback that was triggered by signs of softening inflation.

Europe stocks mostly drop before UK budget

European equities mostly fell Thursday with London on tenterhooks before a painful UK budget set to rip up the country's economic forecasts.

EU wrestles with Payment for Order Flow share trading rules

European Union states edged closer on Thursday to ditching a proposed ban on brokers earning fees in return for directing stock trades to specific trading platforms.

Boris Johnson on post-PM earnings spree in US

The former prime minister was paid more than $325,000 for just one speech at a US insurance industry event.

Burberry's London stores lose out as tourists head to tax-free Paris, Milan

London is losing out to Paris and Milan as a tourist destination for high-spending shoppers over the lack of a tax incentive, British luxury brand Burberry said, after its UK-based sales suffered.

Twitter exodus begins after Musk 'hardcore' ultimatum

Musk, also the CEO of Tesla and SpaceX, has come under fire for radical changes at the social media company, which he bought for $44 billion late last month.

UK ex-ambassador, Australian and Japanese prisoners leave Myanmar after junta amnesty

A former British envoy, an Australian economic adviser and a Japanese journalist left Myanmar Thursday as the junta released almost 6,000 prisoners, an AFP correspondent and diplomatic sources said.

Starbucks U.S. workers at 100 stores plan one-day walkout

Workers at more than 100 U.S. company-owned Starbucks locations plan to strike for one day on Thursday to protest what they say is illegal retaliation against their union organizing.

Siemens stock surges after confident outlook and strong backlog

Siemens shares surged on Thursday after the German technology and engineering group's fourth quarter results beat forecasts and it gave a confident outlook about future industrial demand.

German panel recommends COVID shot only for at-risk youngsters

Germany's vaccine advisory panel on Thursday recommended that Pfizer-BioNTech's COVID-19 vaccine for children from six months to four years should only be given routinely to those at risk of severe disease from the infection.

Dutch court sentences three to life in prison for 2014 downing of MH17 over Ukraine

Dutch judges convicted two Russian men and a Ukrainian man in absentia of murder for their role in the shooting down of Flight MH17 over Ukraine in 2014 with the loss of 298 passengers and crew, and handed them life sentences.

Ronaldo felt 'provoked' by Ten Hag in substitution row

The 37-year-old was reportedly keen to leave the club even before the campaign began after United failed to qualify for the Champions League.