Smiths News declares special dividend after profit surge November 5, 2024 Smiths News exceeded its profit expectations during its financial year, leading the UK-based wholesaler to announce a special dividend for its shareholders. According to its full-year results, the company’s revenue for the year ending 31 August 2024, reached £1.1bn, a 1.1 per cent uptick from last year. During that time, its adjusted operating profit also [...]
Virgin Media 02 reignites calls to crack down on fraud as Brits lose £600m November 5, 2024 Virgin Media 02 has called on the new Labour government to appoint a dedicated minister for fraud and set up a centralised, specialised national body to handle investigations. The telecom giant has argued that current law enforcement resources regarding fraud “remain inadequate” despite fraudulent activity representing 40 per cent of all crime in the UK. [...]
Nimbees: Rare bees foil Meta’s position in data centre arms race November 5, 2024 Plans for Mark Zuckerberg’s Meta to establish a nuclear-powered AI centre in the US have been disrupted due to a discovery of a rare bee species on the land targeted for the project. Meta aimed to partner with an existing nuclear power plant to secure carbon-free power for a new data centre, essential for advancing [...]
Did Rachel Reeves deliver a net zero Budget? November 4, 2024 The UK’s recent Budget included a series of measures which have prompted debate over its impact on achieving net zero. While Rachel Reeves announced significant investments in green energy, hydrogen projects and electric vehicle incentives, a number of her decisions have raised concerns about the effectiveness of the UK’s environmental sector. While Wednesday’s Budget announced [...]
Data centres: The UK’s economic powerhouse? November 4, 2024 A new report claims that, given the right investment climate and policy support, the UK data centre sector could grow tenfold by 2035. TechUK’s report found that the sector could boost the economy by £44bn while creating over 40,000 jobs. The report also outlined how surging demand for digital services, fuelled by tech trends such as AI, [...]
Government-backed cyber security has a long way to go, warns Arctic Wolf November 1, 2024 The boss of Arctic Wolf, one of the world’s biggest cybersecurity companies, has warned that governments need to invest in cybersecurity. Nick Schneider spoke to CityAM ahead of the Labour government’s first Budget earlier this week. Acknowledging the rise in demand for the sector, he argued: “Whilst it is encouraging that most governing bodies are [...]
Howard de Walden opens leading Healthtech hub November 1, 2024 The Howard de Walden Estate has taken a notable step in its healthcare innovation strategy after it announced its £52m investment in a new Healthtech hub centred on Hale House. Partnering with Spacemade, the flexible workspace provider, Walden said it aimed to make the Harley Street Health District the leading global destination for health technology [...]
Autumn Budget 2024: Leading tech founders slam tax increases October 30, 2024 British tech founders have slammed rises in capital gains tax (CGT) and national insurance contributions (NICs) confirmed by Chancellor Rachel Reeves in Wednesday’s Budget. The government has increased the lower rate of CGT from 10 to 18 per cent, and the higher rate from 20 to 24 per cent. It also hiked employers’ NICs by [...]
Autumn Budget 2024: Landlords and renters hit by tax rise October 30, 2024 Labour’s Autumn Budget has introduced major tax changes which will impact landlords and renters across the UK. Chancellor Rachel Reeves, as expected, announced an increase in Capital Gains Tax (CGT) on higher-rate tax payers from 20 to 24 per cent, and basic-rate tax payers from 10 to 18 per cent. Yet, the nil rate band [...]
Autumn Budget 2024: UK private schools hit by VAT fees October 30, 2024 Private schools will be subject to VAT on fees from the start of 2025, Chancellor Rachel Reeves announced in today’s Autumn Budget. As expected, the government is removing the tax benefits previously linked to the charitable status of all private schools in the UK. Tuition and boarding tuition fees will now be taxed 20 per [...]
