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
Elon Musk’s artificial intelligence startup xAI is reportedly in talks for a funding round that would value the company at $40 billion. The company, founded by the Tesla and SpaceX mogul last year, was last valued at $24 billion just five months ago after a $6 billion funding round — which was more than double … Read more
More than 250,000 Washington Post readers — or 10% of the newspaper’s customer base — have canceled their subscriptions after owner Jeff Bezos blocked its editorial board from publishing an endorsement of Vice President Kamala Harris, according to a report. Over the weekend, the iconic broadsheet had lost 200,000 subscribers after it was first learned … Read more
Getty Images A Budget packed with announcements ranging from tax and spending to pay and pensions has been announced by Chancellor Rachel Reeves. Much of what she said could affect you and your finances directly, so here’s what it means for you. If you’re on low pay, your wages should rise Minimum wages, paid by … Read more
The UK’s economy is expected to grow slightly faster than expected this year and next year, according to the government’s official forecaster. Presenting the Budget, Chancellor Rachel Reeves said the Office for Budget Responsibility (OBR) predicted the economy would grow by 1.1% this year, up from its previous prediction of 0.8%. The OBR also forecast … Read more