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Jeremy Hunt set to give motorists £5bn tax break in the Budget  (6 hours old)

Tory MPs also hoping UK chancellor will announce surprise 2p cut in basic rate of income tax

UK Treasury told to do more to track value for money on gilt sales (1 hour 53 minutes old)

MPs on public accounts committee find means of monitoring that debt is being issued at lowest price to be ‘nebulous’

Jeremy Hunt’s Budget bind (6 hours old)

The UK chancellor should put prudence above politics

The banks on the frontline of the remote working battle (8 hours old)

Some Wall Street lenders have taken a more aggressive stance than European rivals on staff returning to the office

Are things going backwards for women on Wall Street?  (10 hours old)

Those with the chops to make it to senior management in banking may not want to sit around and wait their turn

Germany, France and how not to do deterrence  (13 hours old)

The EU’s two leading powers are causing confusion and anger among allies as Ukraine’s future hangs by a thread

China sets economic growth target of around 5%  (43 minutes old)

Premier Li Qiang’s work report seeks to tackle slowdown amid property sector crisis and weak investor confidence

Foreign investors right to see China as more of a trade than a long-term investment (1 hour 54 minutes old)

Country faces clear and present danger of falling into middle-income trap

UN finds ‘grounds to believe’ Hamas committed sexual violence on October 7 (3 hours old)

Special envoy’s report also says ‘sexualised torture’ may still be ongoing against hostages

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Business | The Guardian

UK retail sales dampened as shoppers stay home in wet weather (1 hour 53 minutes old)

High street shops, pubs and restaurants lose out as Britons relax on the sofa in FebruarySoggy February weather and continued cost of living pressures put a dampener on retail sales last month, with growth slowing to just over 1% as many households saved cash by snuggling up on the sofa.Sales of non-food items slumped by 2.5% in the three months to February – led by declining demand for footwear, household appliances, furniture and clothing – amid weak consumer confidence, according to the latest retail sales monitor from the British Retail Consortium (BRC) and the advisory firm KPMG. Continue[...]

Britain’s AI sector expected to get £100m extra funding in budget (3 hours old)

Jeremy Hunt to announce a doubling of funding for research at the Alan Turing InstituteJeremy Hunt is planning to provide a budget boost to Britain’s growing artificial intelligence sector through a doubling of funding for the Alan Turing Institute – the national body for data science and artificial intelligence.Despite being restricted in his scope for pre-election giveaways by the weakness of the public finances, the chancellor is expected to announce a five-year package of funding worth £100m. Continue reading...

EU fines Apple €1.8bn over App Store restrictions on music streaming (10 hours old)

Penalty for breaching competition law is four times higher than forecast as Brussels looks to send message to tech firmsApple has been fined €1.8bn (£1.5bn) by the EU after an investigation found it had limited competition from music streaming services such as Spotify.The fine is nearly four times higher than expected as the European Commission attempts to show it will act decisively on tech companies who abuse their dominant position in the market for online services. Continue reading...

Mortgage reforms have excluded first-time buyers, say UK building societies (1 hour 53 minutes old)

Report calls for overhaul of rules on loan affordability and repayment, and more flexible mortgage productsMortgage reforms introduced after the 2008 banking crisis have “tilted too far” in support of financial stability to the point that first-time buyers are being excluded from the housing market, building societies have warned.A report commissioned by the Building Societies Association has called for an overhaul of affordability and repayment rules, which they say have contributed to a steady decline in first-time buyer mortgages since the mid-2000s. Continue reading...

Thameslink chief executive Angie Doll: ‘Rail does need a guiding mind’ (19 hours old)

The train operator’s boss has faced adversity and anger in the past. But she, like many, believes the industry is at a turning pointIt is one of those wearily baffling days on the railway. “The trains …” sighs a woman on the platform at Gatwick, where a huddle of us stare glumly at the cancellations and delays on the departures screen. “What can you do?”At that moment, I should be 25 miles away, asking that very question of one woman who really can do something: Angie Doll, chief executive of Govia Thameslink Railway (GTR). Continue reading...

‘Heartbreaking’: the nursery forced to close over Hunt’s free childcare policy (9 hours old)

Critics say the surprise policy in last spring budget’s was ill-thought-out, prompting higher prices and fewer nurseriesIn the playground of the Sprig Ludens nursery, a little girl tests her waterproofs to the limit as the rain falls and she jumps in a giant muddy puddle. Another toddler has a look of fierce concentration on his face as he walks across a plank balanced across two tyres; his little pal climbs a nearby tree.Filled with a chorus of play and birdsong, Sprigs – as it’s known to its small clients and their grownups – is an incongruous wild island surrounded by a concrete sea of tigh[...]

Siemens to invest £100m in Chippenham rail factory site in Wiltshire (14 hours old)

Plan to open new facility by 2026 comes after firm invested £200m in east Yorkshire train factoryBusiness live – latest updatesSiemens will invest £100m in a new manufacturing centre to replace its Chippenham rail signalling factory in Wiltshire.The German technology company announced on Monday it would build a facility on the site of the existing Chippenham factory, which has been designing and manufacturing signalling and control systems for railways since the 19th century. Continue reading...

JetBlue and Spirit Airlines cancel $3.8bn merger after judge blocked deal (11 hours old)

Deal would have created fifth-largest US carrier but judge said it would harm consumers by reducing competitionLow-cost air carriers JetBlue Airways and Spirit Airlines canceled their $3.8bn merger agreement on Monday, seeing no path forward after a US judge blocked the deal in January on anti-competition concerns.A successful deal would have created the fifth-largest carrier in the United States and helped Spirit ensure its survival, but the deal had been on the ropes ever since a Boston judge said it would harm consumers by reducing competition. Continue reading...

UK regional growth gap to widen as London pulls further ahead (1 day old)

Despite levelling up efforts, EY data found the capital and south-east of England would benefit most from a return to growthFewer than 20% of levelling up projects finished in EnglandBritain’s sharp regional divide is on track to deepen with London’s economy pulling further ahead despite the government’s levelling up promises, according to a report.Ahead of Chancellor Jeremy Hunt’s budget on Wednesday, the accountancy firm EY said it was forecasting stronger economic growth in London and the wider south-east of England than for the rest of the country. Continue reading...

Four in five billboard ads in England and Wales in poorer areas (19 hours old)

Exclusive: campaigners say outdoor ads pushing fast food, alcohol and more risk deepening health inequalitiesMore than four in five outdoor billboard advertisements are in the poorest half of England and Wales, leading experts to warn that the discrepancy risks deepening health inequalities.While billboards may be seen by many simply as eyesores, campaigners argue they negatively affect people’s lives in intersecting ways, by pushing unhealthy products such as fast food and alcohol, encouraging environmentally harmful consumption and lowering mental wellbeing. Continue reading...

Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024

Telecoms

Margherita Della Valle, the woman trying to turn Vodafone around (2 days old [02/03/24])

The Italian CEO is determined to hive off significant parts of the telecoms giant while also changing its internal culture

Directors’ Deals: BT’s new chief builds stake (3 days old [01/03/24])

Telecoms group faces multiple challenges

South Africa’s MTN warns of 90% hit to profits from naira devaluation (3 days old [01/03/24])

Mobile multinational says removal of currency peg from its Nigerian unit has increased cost of doing business

Elliott Management named in suit blasting ‘sweetheart’ activist deal (5 days old [28/02/24])

Co-founder of telecoms group Crown Castle criticises agreement to offer board seat to powerful hedge fund

Vodafone faces reality with Italian exit — and reality bites back (5 days old [28/02/24])

The telecom group’s remaining markets are not problem-free

Vodafone in talks to sell Italian business to Swisscom  (5 days old [28/02/24])

UK telecoms group says deal would value unit at €8bn

BT Tower sold to US luxury hotel group  (12 days old [21/02/24])

Landmark building opened in 1965 will be retained as ‘iconic hotel’ in £275mn deal

Liberty Global restructures European units in effort to revive shares  (17 days old [16/02/24])

Telecoms group to list Swiss business later this year and draws up plan to separate Virgin Media O2’s fixed-line business

How distressed debt brought a billionaire’s satellite empire to earth (17 days old [16/02/24])

Charlie Ergen’s audacious restructuring plan at Dish Network is emblematic of telecoms industry’s troubles

Brussels open to telecoms mergers to support investment (19 days old [14/02/24])

European Commission says industry fragmentation could prevent operators reaching ‘scale needed to invest in the networks of the future’

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Technology sector

Sony and Nintendo left to battle in console wars as Microsoft signals exit (40 minutes old)

Japan set to become undisputed home of games hardware once more, but analysts worry about industry’s long-term prospects

Microsoft derides ‘doomsday futurology’ of New York Times’ AI lawsuit (1 hour 21 minutes old)

Tech group and OpenAI investor files motion to dismiss case alleging copyright infringement

Former Twitter executives sue Musk in $128mn severance dispute (3 hours old)

Ex-CEO Parag Agrawal among four arguing the billionaire ‘manufactured’ their firings

Game designer Lucas Pope on bringing aliens to the table in Mars After Midnight  (8 hours old)

His new title, set in an extraterrestrial community centre, is a quirky affair made for a niche platform

Apple fined €1.8bn for breaking EU law over music streaming (9 hours old)

iPhone maker hit by first Brussels penalty as competition watchdogs step up scrutiny of Big Tech

Webull’s $7bn listing deal shows Spac madness is not entirely over (20 hours old)

Existing shareholders will own 98.1% of new company and control all voting rights

China offers AI computing ‘vouchers’ to its underpowered start-ups (20 hours old)

Chinese tech giants are hogging scarce cloud resources to develop generative AI models as US restrictions bite

Gender gap in tech jobs narrows across advanced economies (1 day old)

Strong demand for IT jobs and flexible arrangements help more women join workforce in US, EU and UK

Lawyers in Musk pay case seek $6bn in Tesla shares (3 days old [02/03/24])

Plaintiffs’ firm Bernstein Litowitz described their request as ‘unprecedented’ and ‘conservative’

Reddit targets valuation as high as $6.5bn in IPO (3 days old [01/03/24])

Social media platform plans public listing later this year in test of investor appetite

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

BBC News

'I earn £1,600 a month and two thirds goes on bills' (1 hour 54 minutes old)

Changes to tax thresholds and child benefit, help for first-time buyers - what do people want from the Budget?

Watch: 'My biggest financial regret is...' (1 hour 52 minutes old)

People in Kent share their finance stories ahead of Wednesday's Budget. Would you share yours?

UK economy is on the right track, claims Sunak (10 hours old)

The government is preparing for the Budget which may include tax cuts but also a squeeze on spending.

Elon Musk sued over $128m unpaid severance at Twitter (3 hours old)

Four former Twitter leaders accuse Elon Musk of flouting the law and not paying Twitter's debts.

Apple fined €1.8bn for breaking streaming rules (11 hours old)

It comes after Spotify complained about a block on telling users about cheaper alternatives to app store.

Concern as the gambling industry embraces AI (1 hour 49 minutes old)

Campaigners worry that the gambling industry will not use AI responsibly.

When is the Budget and what will it mean for my money? (11 hours old)

Chancellor Jeremy Hunt is reportedly mulling higher duty on business travel to pay for tax cuts.

Shop owner 'hit by bottles' as thefts soar (10 hours old)

Convenience stores saw 5.6 million thefts last year, a trade body says, with 76,000 violent cases reported.

Warning cost of living fund closure 'catastrophic' (1 day old)

Hundreds of thousands of families have had help through the government's Household Support Fund.

Nissan accused of dumping its electric car pioneers (23 hours old)

Owners of older vehicles tell the BBC of their anger that their cars' apps will stop working.

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UK equities

UK groups need to pay executives more, says LSEG chief ahead of bumper new package (4 days old [29/02/24])

Exchange group has proposed 76% increase to David Schwimmer’s pay deal

St James’s Place shares fall 30% as it takes £426mn provision for client refunds (5 days old [28/02/24])

UK wealth manager under fire from regulators over fee structure

Investments that get my vote in this election year (5 days old [28/02/24])

Don’t be distracted by thoughts of who might get into power

Three markets, three highs (6 days old [27/02/24])

What’s powering the new highs in so many markets?

Indivior aims to move primary listing from London to New York (11 days old [22/02/24])

Virginia-based drugmaker says switch would attract more US investors

UK should ease rules to win back mining sector listings, says private equity boss (12 days old [21/02/24])

London should forget hopes of being a technology hub and focus on basic resources, says head of mining-focused Appian Capital

How to democratise the UK stock market, one research note at a time (16 days old [17/02/24])

More research, disseminated to more investors, might spark more interest in smaller companies

Skyrocketing Arm share price shows need for UK reform (16 days old [17/02/24])

Loss of chip company listing to New York shows why it’s time to revive London as an IPO venue

The Lex Newsletter: Is BILGE the next threat to London? (17 days old [16/02/24])

It is questionable how many companies taken private in recent years would return to the UK market if listed

Isa investors eye overlooked UK stocks and tech (17 days old [16/02/24])

Surge in support for selected companies in the first weeks of the year

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Opinion

BYD’s $230,000 electric sports car signals plan to take on VW and Toyota (1 hour 54 minutes old)

Chinese EV giant is widening its range by price point and fuel type

Foreign investors right to see China as more of a trade than a long-term investment (1 hour 54 minutes old)

Country faces clear and present danger of falling into middle-income trap

Jeremy Hunt’s Budget bind (6 hours old)

The UK chancellor should put prudence above politics

Re-merger of Boeing and Spirit AeroSystems pits quality control against value creation  (6 hours old)

Acquisition might please regulators but would strain jet maker’s liquidity and efficiency measures

CVC’s beauty IPO shows private equity must pretty up sales for success (9 hours old)

Any investor attraction to retailer Douglas will depend on its valuation

Jeremy Hunt and the fiscal headroom fallacy (10 hours old)

If the UK chancellor acts on a short-term perspective he will be ignoring the basic dynamics of growth

Are things going backwards for women on Wall Street?  (10 hours old)

Those with the chops to make it to senior management in banking may not want to sit around and wait their turn

Wondrous wallpapers — and which looks to avoid (10 hours old)

Whether the pattern is classic or kaleidoscopic, it has the power to transform a room

What voters think about Joe Biden and the age issue (11 hours old)

How much will perceptions of the capacities of the elderly president and his not-much-younger rival influence the outcome of elections?

Germany, France and how not to do deterrence  (13 hours old)

The EU’s two leading powers are causing confusion and anger among allies as Ukraine’s future hangs by a thread

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Ipswich