Peugeot and Fiat owner Stellantis nets profit boost after mega-merger March 3, 2021 The newly formed Stellantis predicts better than expected financial results after profits remain high in the pandemic
Budget 2021: Which expected policies were not announced? March 3, 2021 Rishi Sunak’s Budget was a tale of two halves, with the chancellor spending big over the next two years before implementing a series of tax rises in the years after. Many of the policies announced were already leaked days or weeks in advance, with the corporation tax rise to 25 per cent for the UK’s [...]
Budget 2021: Big business to pay off UK’s Covid debt burden with £45bn corporation tax rises March 3, 2021 Rishi Sunak will make the UK’s big businesses pay off the country’s Covid spending, with £45bn of corporation tax rises to hit companies with profits over £250,000 the hardest. Corporation tax will rise from 19 per cent to 25 per cent by 2023 for UK companies with annual profits of £250,000 or higher, however a [...]
Budget watchdog predicts UK Covid restrictions to last into autumn March 3, 2021 The UK’s budgetary watchdog is expecting Covid restrictions to last well past the government’s 21 June target date. The Office for Budget Responsibility (OBR) said in its economic forecast today that it expected Covid curbs like travel restrictions, local lockdowns, limits on large gatherings and guidance on home working to continue into the autumn. This [...]
FTSE 100 pares gains as investors split on Sunak’s Budget March 3, 2021 The FTSE 100 pared some of its gains after today’s Budget, as investors reacted to a combination of further business support and future tax hikes. Having been up 1.2 per cent by the mid-morning, London’s blue chip bourse fell back to 6,639 points, up 0.4 per cent. Read more: Budget 2021: Live news and updates [...]
Budget: OBR forecasts stronger than expected UK economic recovery March 3, 2021 The UK’s economy will have a stronger bounce back from the coronavirus crisis than previously expected with unemployment set to peak at a far lower level, according to new economic forecasts from the government’s Budget watchdog. Sunak said the Office for Budget Responsibility (OBR) now predicts the UK’s GDP will return to pre-crisis levels by [...]
Deloitte to pay Malaysia $80m for role in 1MDB corruption scandal March 3, 2021 Audit giant Deloitte is set to pay $80m to the Malaysian government to settle claims of corruption tied to the auditing of scandal-linked state accounts, the finance ministry has said today. Deloitte’s fee will conclude its role in the corruption saga that involved former Malaysian prime minister Najib Razak who allegedly used the state fund [...]
UK PMIs: Services activity stabilises after lockdown plunge March 3, 2021 UK services activity continued to contract last month, but bounced back from January’s dramatic tumble on optimism about a potential end to the pandemic. The IHS Markit/Cips purchasing managers (PMI) index for services registered 49.5 in February, with any score below the 50 mark indicating contraction. It came in just below analyst expectations of a score of [...]
The investor’s dilemma: do sustainable funds need a digital detox? March 3, 2021 | City Talk Netflix documentary The Social Dilemma makes for uncomfortable viewing for users of social media channels such as Facebook, Instagram, Snapchat, YouTube or Twitter. i.e. pretty much all of us. And as a sustainability specialist who invests (at the time of writing) in Alphabet , the parent company of Google and YouTube, I find the issues covered extra [...]
Wall Street closes lower price after technology stocks retreat March 2, 2021 Wall Street closes lower price after technology stocks retreat