Nokia shares soared as much as 20 per cent on Tuesday after announcing that Nvidia will take a $1bn equity stake in the Finnish telecoms group and partner on developing …
Investing
PwC shrinks global headcount amid $1.5bn AI drive
Big Four giant PwC has shrunk its global workforce for the first time since 2010, trimming staff numbers by nearly 6,000, as the chairman cited investments in AI tools. In …
Apple and Microsoft to join Nvidia in $4tn club amid AI market boom
Apple and Microsoft are each within touching distance of a $4tn (£3.01tn) market valuation, setting the stage for a big week of earnings on Wall Street as investor confidence in …
Reform UK pledges to ‘have legislation drafted’ before next election
Reform UK has vowed to write draft legislation before entering government if it were elected into Downing Street, with sweeping changes to Whitehall and civil service codes to be among …
Sweet relief: Ferrero’s Nutella biscuits remain VAT-free snack
A Tax Tribunal ruled in favour of Ferrero UK, stating that their ‘Nutella Biscuits’ are zero-rated for VAT, in yet another food battle HMRC has had over the bizarre tax …
Wealthy Brits are failing to notice that they will be hit by IHT changes
Many high net worth Brits are unaware that their pensions will soon be liable for inheritance tax, leaving families exposed to significantly higher levels of tax. Nearly 20 per cent …
HSBC shares rise as Georges Elhedery’s pivot East beats the noise
HSBC’s pass through the third quarter was almost identical to the second. Despite another hefty hit to the firm’s bottom line, chief executive Georges Elhedery has quietly and effectively pushed …
Why are asset managers turning away from the US?
Asset managers are increasingly choosing to diversify their portfolios away from US stocks, despite Wall Street’s pronounced rally, as fears over being overexposed to secular markets grows. US markets saw …
Paddy Power founder: Bookies ‘scaremongering’ over tax hike damage
The betting sector is “scaremongering” over the potential damage of a tax raid on gambling, according to the retired co-founder of Paddy Power, who said he had led similar industry …
Six vineyards, one bike: inside the UK’s first boozy bike trail
For the Autumn edition of City AM The Magazine, Adam Bloodworth takes on the UK’s first wine bike trail The Rother Wine Triangle unites two groups that should arguably never …