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Getty Images The two-child limit means many low-income families do not receive further benefits when they have a third or subsequent child. It has been the subject of intense political debate and speculation, with Chancellor Rachel Reeves hinting at changes in the Budget. So how does the system work and what might happen? What is…
Gideon LongBusiness reporter Kseniia Kalmus Kseniia Kalmus started to make drones for the Ukrainian army after Russia’s invasion The ongoing conflict in Ukraine is often described as the world’s “first drone war”. It has led to a continuing huge growth in the production of military drones, both within and outside Ukraine. Before Russia’s invasion of…
After weeks of wondering will she, won’t she, and recent heavy hints that she would indeed raise income taxes in the Budget, Chancellor Rachel Reeves has now decided against the manifesto-breaching move. Amid the fog of Budget speculation, here is what we do know. That plan, to raise income tax rates by 2p but compensate…
US investment group RedBird Capital has pulled out of a deal to buy the Daily and Sunday Telegraph for £500m. RedBird had a previous attempt to buy the Telegraph rebuffed by politicians as it was majority-funded by Abu Dhabi’s IMI group – which is owned in turn by the Abu Dhabi royal family. A law…
Walmart chief executive Doug McMillon will retire from his post in January, handing over the reins to a longtime deputy. The 59-year-old is stepping down after more than a decade at the helm of the world’s largest retailer, a period when it successfully expanded its online operations, while scaling back riskier international units. He will…
Jaguar Land Rover has reported a heavy loss for the three months to the end of September, a period during which it was badly affected by the impact of a serious cyber-attack. The carmaker posted a £485m loss – before tax and exceptional items – compared with a profit of £398m for the same period…
Chris Mason,Political editor and Kate Whannel,Political reporter House of Commons Chancellor Rachel Reeves has decided against raising income tax rates at the Budget later this month. In recent weeks, Reeves had given strong indications she would increase the tax – a move that would have broken Labour’s election manifesto promise not to raise “the basic,…
Reuters UK government borrowing costs have risen in reaction to reports the chancellor will not increase income tax in the upcoming Budget. The interest rate on 10-year government bonds, known as the yield, jumped to 5.56% from 5.44%, indicating the cost to government if it chose to borrow over this length of time. The jump…
MaryLou CostaTechnology Reporter Getty Images Advertisers are using AI to personalise online advertising Imagine one night, you’re scrolling through social media on your phone, and the ads start to look remarkably familiar. They’re decked out in your favourite colours, are featuring your favourite music and the wording sounds like phrases you regularly use. Welcome to…
Danielle KayeBusiness reporter Bloomberg via Getty Images A customer shops at a Costco store in Teterboro, New Jersey, US. The Trump administration on Thursday announced frameworks for trade deals with four Latin American countries, which senior officials said will include tariff relief on coffee and bananas. The Trump administration on Thursday said import taxes on…
