Financial news

• Netflix to double profits after adding millions of subscribers in three months

  17-10-2024 22:45 via theguardian.com
  
  After cracking down on password sharing, expanding into ads and investing billions in live TV, group declares successNetflix expects to double its profits this quarter after the world’s largest streaming service added more than 5 million new subscribers this summer.After cracking down on password sharing, introducing adverts to its service and investing billions in live TV, the group declared it had “delivered” on plans to shore up its business. Continue reading...
  
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• Martin Lewis warning over Disney Plus as customers cancel subscriptions

  17-10-2024 20:59 via express.co.uk
  
  Disney+ customers have been warned by Martin Lewis increased subscription costs will come into effect
  
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• Russia’s aim is to ‘create havoc’ if it is behind DHL fires, says air freight expert

  17-10-2024 20:58 via theguardian.com
  
  Goal seems to be for people ‘to lose confidence in the system’, says head of industry body after devices found in Birmingham and LeipzigIf Russia is proved to be behind an incendiary device plot that caused fires at two parcels warehouses in July, it will be evidence that Moscow is aiming to disrupt western confidence, an expert has said.The dangerous packages, which caught light at DHL sites in Birmingham and Leipzig, are not thought to have been sophisticated but in both cases appe
  
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• New ‘buy now, pay later’ rules to protect UK shoppers from 2026

  17-10-2024 19:47
  
  Firms such as Klarna to be required to do affordability checks, but campaigners question delay in new rulesShoppers who use “buy now, pay later” loans are to get new safeguards against unaffordable borrowing and credit card-style protection for their purchases, under rules outlined by the UK government.However, campaigners have questioned why the BNPL changes will not take effect until 2026, warning that consumers need to be “wary” in the meantime. Continue reading...
  
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• Budget 2024: what taxes could Rachel Reeves raise?

  17-10-2024 19:33 via theguardian.com
  
  The chancellor is aiming to make £40bn worth of tax rises and spending cuts to fill ‘black hole’ in public financesThe chancellor, Rachel Reeves, is exploring ways to raise billions of pounds extra in taxes at the budget.Labour outlined about £9bn worth of tax-raising measures in its manifesto, but also committed not to increase taxes on “working people” using the three biggest revenue-raisers for the Treasury: income tax, national insurance and VAT. The party
  
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• Martin Lewis MSE says anyone earning less than £31,000 can get £3,500 freebies

  17-10-2024 19:32 via express.co.uk
  
  Martin Lewis' MSE team says you can get up to £3,500 worth of freebies from your energy firm on average if you earn less than £31,000.
  
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• Martin Lewis warning after phone call from Rachel Reeves promising law change

  17-10-2024 19:15 via express.co.uk
  
  Martin Lewis says he is 'pleased' following a phone call from Chancellor Rachel Reeves bu issued a warning.
  
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• Hike in capital gains tax will spark tech exodus from UK, investor says

  17-10-2024 18:48 via theguardian.com
  
  Harry Stebbings says tax rules make Britain ‘a bad place to do business’ as he warns of entrepreneurs leavingTech entrepreneurs will leave the UK “en masse” if the chancellor announces a significant increase in capital gains tax at this month’s budget, according to a leading industry investor.Harry Stebbings, a British podcaster turned investor who raised a $400m (£310m) fund this week, said the UK was “a bad place to do business” because of its ta
  
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• Akshata Murty could receive up to £7.5m after Infosys increases dividend

  17-10-2024 18:29 via theguardian.com
  
  Rishi Sunak’s wife may have to pay as much as £3m to the Treasury after Indian software company’s latest resultsInfosys, one of India’s largest software companies, has reported an increase in its dividend, with a significant payout for the leader of the opposition, Rishi Sunak, and his wife, Akshata Murty.The IT outsourcing company has increased its interim dividend by 16.7% this year, according to its latest results, meaning Murty could receive a payout of up to £7
  
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• Biden-Harris administration announces $4.5bn in additional student debt relief

  17-10-2024 17:34 via theguardian.com
  
  Latest round brings total student loan cancellation to over $175bn for nearly 5 million people as court battles continueThe Biden-Harris administration announced today an additional $4.5bn in student debt relief for over 60,000 public service workers.The latest round of relief has brought total student loan cancellation to over $175bn for nearly 5 million people since Biden took office in 2021, roughly 11% of all outstanding federal student loan debt, including 1 million public service workers h
  
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• Will Great British Energy herald UK’s green revolution?

  17-10-2024 17:23 via theguardian.com
  
  National energy company, which launched this week, is Labour’s strategy to end dependence on fossil fuelsAberdeen, the centre of the UK’s North Sea oil and gas industry for the past six decades, witnessed the launch of a new company this week that aims to sweep away Britain’s dependence on fossil fuels for ever.Great British Energy is at the heart of the recently elected Labour government’s pitch to decarbonise the UK’s power sector by 2030. Ed Miliband, the energy
  
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• Tax-free withdrawals from pension pots surge amid fears over autumn budget

  17-10-2024 16:44 via theguardian.com
  
  Reports that Rachel Reeves likely to increase taxes have spooked customers, say investment firmsReeves to leave capital gains tax on property untouched, reports saySavers have started to withdraw cash from their pension pots amid fears over potential tax changes at the autumn budget, according to investment companies.The investment platform AJ Bell said reports that the chancellor, Rachel Reeeves, was likely to increase taxes at the budget on 30 October had spooked some of its customers into new
  
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• Win your Winter fuel payment for 2024 and 2025

  17-10-2024 15:40 via express.co.uk
  
  10 lucky readers will each win a one off payment of £600 - covering the value of your winter fuel allowance in 2024 and 2025!
  
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• State pensioners issued warning they could be forced to pay back winter fuel payment

  17-10-2024 13:39 via express.co.uk
  
  The DWP has revealed there are several scenarios where pensioners will have hand back their winter fuel payment.
  
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• Rachel Reeves urged to raise taxes by ‘patriotic millionaires’

  17-10-2024 13:33 via express.co.uk
  
  The group argue that warnings higher taxes will drive the rich to move overseas or cancel investments in UK businesses are overblown.
  
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• Premium Bonds frustration at 'unbelievable' seven-week wait for transfer

  17-10-2024 13:18 via express.co.uk
  
  Customers can choose to buy more Premium Bonds at any time.
  
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• Building Society offers 'excellent' savings account paying £943 interest

  17-10-2024 13:03 via express.co.uk
  
  The savings account is offering the "market-leading" interest rate in its sector.
  
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• Rachel Reeves' plot to end 'ISA millionaires' with £500k limit on savings

  17-10-2024 12:07 via express.co.uk
  
  Rachel Reeves has previously argued that ISAs are primarily benefiting high earners.
  
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• Tax on Europe’s frequent flyers could raise €64bn a year – study

  17-10-2024 07:00
  
  Levy rising by €100 for each return flight after the first in a year could cutemissions by 21%, report saysA “jet-setter” tax on Europe’s frequent flyers could slow global heating and raise €64bn (£54bn) a year at no extra cost to most people, a report has found.Carbon pollution pumped out of planes could fall by 21% if people were made to pay more for each extra flight they take beyond the first return trip, according to analysis from the New Economics Foundati
  
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• Here’s a rabbit for the chancellor’s hat: scrap stamp duty on shares | Nils Pratley

  17-10-2024 06:01
  
  Getting rid of SDRT would pay for itself over time because other receipts would rise, abolitionists sayRachel Reeves is looking for taxes to raise, rather than ones to abolish. Never mind: here is a tax that ought to be scrapped by a government that calls itself pro-growth, pro-business and pro-investment, which was the pitch at this week’s big summit. What’s more, the enticing claim from abolitionists is that getting rid of the tax could – with a few qualifications – pay
  
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