Eli Lilly’s blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro posted weaker-than-expected sales for the third quarter, even as supply of both medicines have largely recovered from widespread shortages in the U.S. The reason, according to the company, is not an issue of demand or supply. Eli Lilly instead blamed disappointing sales on drug … Read more
Before July’s general election, Labour pledged to toughen existing Tory plans to abolish non-dom tax status. In March 2024, the-then Conservative chancellor Jeremy Hunt had announced that the non-dom tax regime would be phased out. Under Mr Hunt’s plans, people who moved to the UK from April 2025 would not have to pay tax on … Read more
Getty Images Chancellor Rachel Reeves repeatedly called this a “Budget for growth”. Is it? Over the next two years, yes. But the UK’s official independent forecaster’s verdict is that all the measures in the Budget do not boost the economy in the next three to five years. The National Insurance rise for employers rise weighs … Read more
New Jersey’s biggest newspaper, the Star-Ledger, said Wednesday that it will stop publishing its print edition in February amid rising costs and slumping demand for print. The 85-year-old publication’s owner Advance Local said it is also closing the Montville, NJ production facility and ending the print publication of dallies The Times of Trenton and the … Read more
Getty Images The government’s official forecaster has said it was not told by the Treasury about “large pressures” on public spending at the time of the March Budget. A review by the independent Office for Budget Responsibility (OBR) said spending measures totalling £9.5bn were not shared with it, giving a false insight into the state … Read more
PORTLAND, Maine — Three Massachusetts utilities and Central Maine Power’s parent company have agreed that Massachusetts ratepayers must shoulder $512 million in additional costs caused by delays in construction of a power transmission project in Maine that will allow Canadian hydropower to reach the New England power grid. Proponents said Wednesday that the project aimed … Read more
PA Media HS2 construction at Euston was paused after funding for the link was put in doubt The government is “committing the funding required” to begin tunnelling work to bring HS2 to London Euston station, Chancellor Rachel Reeves has announced. Ms Reeves said in her Budget speech this would encourage private investment in the area. … Read more
The maker of a popular baby powder brand expanded a nationwide recall of the product to nearly 42,000 bottles due to the risk they are contaminated with cancer-causing asbestos, according to the US Food and Drug Administration. Dynarex Corporation, which sells medical supplies and personal care products, was expanding the recall had initially recalled about … Read more
Wall Street titan John Paulson has vowed to slash government spending with help of Tesla CEO Elon Musk if he becomes Treasury secretary under a second Donald Trump administration. The billionaire investor — who famously made a killing in the 2008 financial crisis with a $3 billion bet against bad home loans — said he … Read more
At the moment, buyers of homes worth less than £250,000 don’t pay stamp duty. This was doubled from £125,000 under Liz Truss’s mini-Budget in September 2022. The threshold is £425,000 for those buying their first property. This was raised from £300,000 as part of the mini-Budget. These higher thresholds will end in March 2025, when … Read more