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Denmark loses £1.4bn London tax fraud case
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Denmark has lost a £1.4bn tax fraud case at the High Court in London in a blow to the country’s efforts to recover monies from the sprawling “cum-ex” scandal. The Nordic country’s tax authority had…
Netflix drops Warner Bros bid, clearing way for Paramount takeover
Last December, Warner Bros agreed to a takeover offer from Netflix for some of its assets. But Paramount, which is backed by tech billionaire Larry Ellison and led by his son David, made a rival offer as it looks to transform itself into a Hollywood heavyweight. But it had been rebuffed by Warner Bros.
Spirit Airlines shutting down after rescue talks collapse
The earlier plan, which would have seen the US government take effective ownership of as much as 90% of the airline, faced stiff opposition from Wall Street, Capitol Hill and even a member of Trump’s own cabinet. Transportation Secretary Sean Duffy told Reuters a rescue would amount to tossing “good money after bad”.
ChatGPT to carry adverts for some users
Zoe KleinmanTechnology editor Getty Images Adverts will soon appear at the top of the AI tool ChatGPT for some users, the company OpenAI has announced. The trial will initially take place in the US, and will affect some ChatGPT users on the free service and a new subscription tier, called ChatGPT Go. This cheaper option…
Reeves acknowledges she is looking at tax and spending ahead of Budget
Chancellor Rachel Reeves has acknowledged she is “looking at tax and spending”, ahead of her autumn Budget next month. Reeves said she would “always make sure the numbers add up”, in an interview with Sky news against a backdrop of slow economic growth and mounting government debt. The chancellor has previously hinted at tax rises,…
