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
The US economy grew slightly slower than expected in the third-quarter amid easing inflation and strong consumer spending. The Commerce Department’s Bureau of Economic Analysis released its advance estimate for third-quarter gross domestic product (GDP), which found the US economy grew at an annual rate of 2.8% in the third-quarter, which runs from July through September. Economists … Read more
PARIS — Saudi startup airline Riyadh Air has ordered 60 Airbus aircraft, the European aerospace manufacturer said Wednesday. Riyadh Air plans to begin passenger flights next summer and has placed an order for 60 A321neo planes, the largest among Airbus’ best-selling A320neo family, the company said in a statement. The creation of Riyadh Air by … Read more
Getty Images More than half of the tax rises in the Budget will be paid for by businesses, with a hike in the amount employers pay in National Insurance to generate £25bn. Chancellor Rachel Reeves has decided firms will bear the brunt of her £40bn total tax rise by increasing the National Insurance rate as … Read more
David Ellison will fully control Paramount Global when it merges with his company, Skydance Media, according to a new regulatory filing. According to the amended Federal Communications Commission filing Tuesday, Ellison’s role will be chairman and CEO of new Paramount, combining the assets of Hollywood production company Skydance and Paramount, home to CBS, Showtime and … Read more