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What is a wealth tax and can it work in reality?
  + stars: | 2024-03-15 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +1 min
The so-called wealth tax is a politically divisive economic policy, but one that is regaining attention amid rising inequality and shifting demographics. It follows an earlier G20 meeting, in which finance leaders explored plans for a global minimum tax on the world's 3,000 billionaires. Colombia, Scotland and the U.S. have all proposed wealth taxes in recent years, joining the likes of Switzerland, Norway and Spain in imposing taxes specifically on the super-rich. And even some of the world's wealthy are backing such calls. But can such a policy work in reality, and is it likely to take hold?
Persons: Joe Biden, Phil White Organizations: U.S, Patriotic Millionaires, CNBC Locations: Colombia, Scotland, Switzerland, Norway, Spain
The UK has showcased its new laser weapon, DragonFire. Lasers could prove an effective new form of air defense against military drones. AdvertisementThe UK's Ministry of Defence has released new footage of its laser weapon DragonFire being tested. The UK's new laser weapon, DragonFire, in a video released in March 2024. A DragonFire laser takes out a drone in an animation sequence released by the UK MOD on March 11, 2024.
Persons: , Iain Boyd Organizations: Ministry of Defence, Service, Defence, MoD, MOD, Royal Navy, Center for National Security, University of Colorado Locations: Scotland, China, Israel, Ukraine
And it is claimed it also take out its targets for a tiny fraction of what current air defense missiles cost. In contrast, the Standard Missile-2 used by the United States Navy for air defense costs more than $2 million per shot. The DragonFire laser weapon is tested in January on a British firing range. UK Defense Ministry“It has the potential to be a long-term low-cost alternative to certain tasks missiles currently carry out,” a January statement from the UK Defense Ministry said. Meanwhile expensive air defense systems from Western allies have been crucial to Ukraine’s ability to defend itself from attacks by Russian missiles and drones.
Persons: , , Houthi, Leon Neal, ” James Black, DragonFire, Black, Grant Shapp, Iain Boyd, Boyd, Fred Pyle, ” Shimon Fhima Organizations: CNN, United Kingdom’s Defense Ministry, Defense Ministry, UK Defense Ministry, The Defense Ministry, United States Navy, ExCel, Getty, RAND, , Center for National Security, University of Colorado, Navy, Warfare, Breaking Defense, US Navy, Office, DOD Locations: Britain, Scotland, Ukraine, Gulf of Aden, Russian, London, England, RAND Europe, Ponce, Persian, USS Portland
CNN —The disastrous Willy Wonka-inspired experience held in Glasgow, Scotland, last month has already been immortalized in an endless stream of meme-orabilia that will forever live on a corner of the internet. “He has a workshop underneath the venue that hosted the Willy Wonka experience and… the day after everything blew up, he was just at the bins and saw all this stuff lying there,” Kasparis told CNN Wednesday. Despite having a starting price of £10 ($13), the three backdrops have already fetched 48 bids on Ebay, including a highest one of £760 ($973) as of Wednesday morning. “I’m anticipating getting into four figures,” Kasparis said, “which is what I’m hoping for.”As of Wednesday morning, the backdrops had received 48 bids. Frustrated with that gap between the advertising and reality, families attending the experience became so angry that the police were called, and the event was eventually canceled.
Persons: Willy Wonka, Michael Kasparis, , ” Kasparis, ‘ I’ll Organizations: CNN, Ebay, Monorail, Aid, , Glasgow Children’s Hospital, Labour Party Locations: Glasgow, Scotland
A fire broke out on the Royal Navy's flagship, the HMS Queen Elizabeth, a report said. Last month, HMS Queen Elizabeth pulled out of a NATO exercise following a mechanical issue. AdvertisementThe UK's $3.7 billion flagship aircraft carrier caught fire in yet another embarrassment for the Royal Navy. HMS Queen Elizabeth is now en route to Rosyth, Scotland, for repairs, specifically targeting the starboard propeller shaft coupling. The high-profile failures of the UK's flagship aircraft carrier have shown how Britain is struggling to keep up with first-rate navies around the world, experts have said.
Persons: HMS, Elizabeth, Queen Elizabeth, , HMS Prince, Wales, Rishi Sunak, Anne, Marie Trevelyan, Tom Tugendhat, Lord Houghton, Richard Barrons Organizations: Royal, Service, Royal Navy, UK Defence, Business Insider, Ministry of Defence, Foreign, Houthis, Financial Times Locations: NATO, Glen, Loch Long, Scotland, Rosyth, Wales, Russia, China, Red, Britain
Even though my name caused some issues while growing up, I'm glad it's completely different from my sister's. Our parents couldn't agree on namesPart of the reason my sister and I have such different names is that our parents had different opinions on popular names versus unique names. I'm glad I was given a completely different name from my twinOver the years, some people have asked why our parents gave us such different names. For example, in Good To Know's round-up of the 500 best twin baby names in 2023, names like "Aida and Ava" and "Gabriella and Isabella" topped the list. SJ Strum, a baby-name expert based in the UK, told me she's noticed that rhyming twin names have decreased in recent years.
Persons: , I've, Aimee, it's, I'd, couldn't, Amy, Emma, Mikhaila, Mikhaila Friel, Mikhail, Michaela, Mickey, I'm, We've, Aida, Ava, Gabriella, Isabella, SJ, she's, Strum Organizations: Service, Business, National Records of, National Records Locations: Glasgow, Scotland, Russia
She bought a house in the Scottish countryside after graduating from university in Glasgow. AdvertisementThis as-told-to essay is based on a conversation with Simran Kaur, a 22 year-old tax associate living in Kilmarnock, Scotland. Four years later, I've graduated, landed a good job at an internationally renowned firm and bought my first house here. So, I started looking into both my home and job options. AdvertisementI chose Kilmarnock because house prices are affordable, and it is easy to commute to work and reach my relatives.
Persons: Simran Kaur, Kaur, , I've, Ernst, Young, PWC, I'd Organizations: PwC, Service, Glasgow University, Motherwell, Kilmarnock Locations: India, Scotland, Scottish, Glasgow, Kilmarnock, Punjab, North India, Prestwick, Loch Lomond
Atrial fibrillation is dangerous and on the riseAtrial fibrillation is the leading cause of stroke in the United States. Atrial fibrillation can also lead to blood clots, heart failure and “can increase the risk for heart attack, for dementia, for kidney disease. Replacing both diet and added sugar sodas with water is best to reduce chances of atrial fibrillation, experts say. The rate of atrial fibrillation in the US population is growing: The CDC estimates some 12 million Americans will have A-fib by 2030. “Do not take it for granted that drinking low-sugar and low-calorie artificially sweetened beverages is healthy, it may pose potential health risks.”
Persons: , Penny Kris, Etherton, Kris, , Dr, Gregory Marcus, ” Marcus, Naveed Sattar, ” Sattar, Ningjian Wang, ” Wang Organizations: CNN, Pennsylvania State University, American Heart Association, US Centers for Disease Control, University of California, San Francisco School of Medicine, UCSF Health, Rhythm Society, University of Glasgow, Shanghai Ninth People’s Hospital, Shanghai Jiao Tong University School of Medicine Locations: United States, Scotland, Shanghai, China
TJ Maxx is TK Maxx in Europe. Hannah Docter-LoebTJ Maxx is an American discount store dating back to the 1970s, and the company opened its first European location in the 90s. But the UK was already home to a discount store called TJ Hughes, which opened in the early 1900s. TJ Maxx changed its European-branch name to TK Maxx to avoid confusion. My first week, my boots broke, and my TK Maxx replacements have lasted me the entire trip.
Persons: TJ Maxx, Hannah Docter, Loeb TJ Maxx, TJ Hughes, TK Maxx Organizations: TK Maxx Locations: Europe, American, England, Scotland, Ireland, Poland, Germany, Austria, Netherlands
After visiting all 50 states and 51 national parks, they've traveled to over 91 countries. Hidden gems in Denmark, Latvia, and Greece were their favorite destinations in the world. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Faroe Islands, DenmarkFaroe Islands, Denmark. Faroe Islands, Denmark.
Persons: John, Beverly Martin, they've, , John Martin, Beverly, dirk moll John, There's, James Bond, Roberto Moiola Beverly, Marcus Lindstrom John, Maremagnum Beverly, Vasilis, Beverly Martin John, Folegandros Organizations: Service, Zeppelin, Beverly Locations: Florida, Denmark, Latvia, Greece, Faroe Islands, Denmark Faroe Islands, Faroe, Iceland, Scotland, Norway, Riga, Latvia Riga, It's, Europe, Beverly, Folegandros, Greece Folegandros, Santorini, There's
Sleep is an important lifestyle factor in reducing risk for type 2 diabetes, a new study has found. In terms of risk for type 2 diabetes, there wasn’t a significant difference between those with normal sleep and those who slept six hours. And even for those who ate the healthiest, their diet didn’t offset the effects of insufficient sleep on diabetes risk. The findings are also based on participants’ recollections of their food and sleep habits, according to the study. Confirming a causal relationship “would require randomized trials intervening on sleeping habits to increase sleep time and see if this reduces risk of diabetes in those at risk, e.g.
Persons: CNN —, Dr, Diana Nôga, ” Nôga, , Leana Wen, Wen wasn’t, ” Wen, Naveed Sattar, ” Sattar, Wen Organizations: CNN, JAMA, biosciences, Uppsala University, Lighthouse Films, George Washington University Milken Institute School of Public Health, University of Glasgow Locations: Sweden, United Kingdom, Scotland,
Using radar scans and analysis of sand grains buried deep inside the star dune, scientists mapped the mound’s internal structure. “It’s moving about half a meter per year,” demonstrating that star dunes are about as active as most other dunes, Duller told CNN. A mystery solvedThe new findings also addressed a longstanding mystery for geologists: Where is all the ancient evidence of star dunes? Star dunes are so big; perhaps eroded parts of their preserved structures were previously identified as standalone remnants of other types of dunes, the study authors reported. “The fact that star dunes have not been identified very much in the stratigraphic record may partly be because many geologists were not very much aware of star dunes and only knew about longitudinal dunes and barchans (crescent-shaped dunes),” Goudie said.
Persons: ” Andrew Goudie, Goudie, , Geoff, , Lala Lallia, Charles Bristow, ” Bristow, Chebbi, Charlie Bristow, Bristow, ” Goudie, ” Mindy Weisberger Organizations: CNN, University of Oxford, Aberystwyth University, sedimentology, Birkbeck College, University of London, University of London's Birkbeck, Google, Scientific Locations: Erg Chebbi, Morocco, United Kingdom, Wales, Aberystwyth, Scotland
Two Ryanair flights on the same route were disrupted by fighting passengers six days apart. A major UK union has now raised its concerns with airports and airlines, per the BBC. "It's totally unacceptable that any worker has to confront threats of verbal or physical abuse," a union staffer said. AdvertisementA labor union has raised its concerns with airports and airlines about the rise in unruly passengers, the BBC reported. "The proliferation in incidents of anti-social behavior and threats towards workers at airports and on flights is deeply concerning," he said.
Persons: , Pat McIlvogue Organizations: Ryanair, Service, BBC, Business Locations: Scotland
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewJK Rowling has hit out at reports calling a transgender cat killer and convicted murderer a woman. It is not the first time Rowling has aired her views on transgender issues. In a 2020 statement released via The Trevor Project, Daniel Radcliffe, who played the films' titular character, said: "Transgender women are women. AdvertisementTiffany Scott, also known as Andrew Burns, died on Thursday aged 32, the Scottish Prison Service confirmed, per The Telegraph.
Persons: , Rowling, Harry Potter, Scarlet Blake, Jorge Martin Carreno, Blake, Jon Capps, Forstater, JK Rowling, I've, Daniel Radcliffe, Jo, Tiffany Scott, Andrew Burns Organizations: Service, Sky, Business, Spanish, BBC, Thames Valley Police, JK, Scottish Prison Service Locations: Scotland
CNN —Dutch track star Femke Bol continued her golden year on Saturday, smashing her own indoor 400-meter world record at the World Athletics Indoor Championships in Glasgow, Scotland. “It’s amazing to also run a world record again. Equally adept over the hurdles and on the flat, she is the current world champion in both the 400m hurdles and 4x400m relay. Last year, she broke the 41-year-old world record in the indoor 400m and currently owns four of the six fastest times in the event’s history. At the 2022 European Championships, Bol became the first ever woman to win both the 400m and 400m hurdles at a major championships.
Persons: Femke Bol, Lieke Klaver, Alexis Holmes, Forsheva, , ” Bol, Jane Barlow, Bol, I’ve, Organizations: CNN, Dutch, Olympics, Jane Barlow / Press Association, AP, Paris Olympics Locations: Dutch, Glasgow, Scotland
The governing body for track and field said that the exclusion would apply to transgender women, banning some from competing in female track and field events. “It was the right decision then, it’s the right decision now,” Coe told CNN Sport’s Amanda Davies at the world indoor championships in Glasgow, Scotland. In recent years, there has been a growing list of governing bodies which have restricted transgender women from competing in women’s divisions. World Athletics hasn’t clearly defined its definition of what constitutes having “been through male puberty,” which is a multi-year process beginning as early as age nine. Coe attends the ongoing World Indoor Athletics Championships in Glasgow, Scotland.
Persons: Sebastian Coe, , ” Coe, Amanda Davies, Coe, ” Hudson Taylor, Ally, Stonewall, Tanner, “ There’s, Martin Rickett, I’m, Organizations: CNN, Athletics, World Athletics, Global Athletics Coaches Academy, International Olympic Committee, ” CNN, British, of Sports Medicine Locations: Glasgow, Scotland, Stonewall, United Kingdom
A disastrous Willy Wonka-themed children's event went viral for all the wrong reasons. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Instead, the bizarre Willy Wonka-themed event in Glasgow, Scotland, featured a sparse warehouse filled with low-budget props and drew comparisons with the similarly ill-fated Fyre Festival. Videos of customers confronting event organizers have since been shared on social media. "I ended up playing Willy Wonka for three and a half hours straight," Paul Connell told The Independent.
Persons: Willy Wonka, Here's, , Stuart Sinclair, Sinclair, Paul Connell, Wonka, Connell, BI's Katie Notopoulos Organizations: Service, Illuminati, The Daily Mail Locations: Glasgow, Scotland
AdvertisementUnsuspecting children attended a Willy Wonka-inspired event in Glasglow, Scotland with high hopes, but found themselves in a world of pure horror. Paul Connell, an actor hired to play Willy Wonka at the event, told The Independent that the script supplied was "15 pages of AI-generated gibberish." Since photos and videos surfaced online, X (formerly known as Twitter) has become inundated with memes about the catastrophic event. AdvertisementThe interactive lab area drew comparisons to a meth lab“Is that the-”“The meth lab from the Glasgow Willy Wonka Experience? This photo from the Willy wonka experience is single handedly the photo of the year.
Persons: Willy Wonka, , it's, Roald Dahl, Paul Connell, Kirsty Paterson, Glasgow Willy Wonka, k9jdz3CWH0 — Adam, @adamgreattweet, Loompa, Hugh Grant, Willy wonka, twitter.com/tmc, kes, Kate Middl, aga, witt, r.com, ady, lanning their H, dre, anne Organizations: Service, Warner Bros, Independent, Glasgow, nk Locations: Glasgow, Glasglow, Scotland, erie, ves
Read previewA bizarre Willy Wonka-inspired immersive event has been attracting attention for all the wrong reasons this week. Some of the actors hired for the event have been speaking out with their suspicions that AI played a role in devising the chaotic script. Paul Connell, an actor and stand-up comedian hired to play Willy Wonka at the event in Glasgow, Scotland, told the Independent the script provided was "15 pages of AI-generated gibberish" and required him to say "mad things." Kirsty Paterson, who played an Oompla-Loompa at the event, also suspected the script might have had a helping hand from AI. Jenny Fogarty, another actor hired for the event, told the Daily Mail she and her partner thought AI had written the content after they read the strangely written stage directions.
Persons: , Willy Wonka, Paul Connell, Connell, Kirsty Paterson, Paterson, I'd, Jenny Fogarty, ChatGPT Organizations: Service, Business, Independent, Daily Mail, Entertainment, Illuminati Locations: Glasgow, Scotland
Actor and stand-up comedian, Paul Connell was hired to play Willy Wonka at an event in Scotland. Connell said he thought he was losing his mind after playing Wonka over three hours straight. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn actor who played Willy Wonka at a chocolate-factory-themed event in Scotland says he had such a bad time at the gig he felt like he was losing his mind. This story is available exclusively to Business Insider subscribers.
Persons: Paul Connell, Willy Wonka, Connell, Wonka, Organizations: Service, Independent, Warner Bros, Business Locations: Scotland
People there became so angry on Saturday that the police were called, Police Scotland confirmed to CNN, the event was canceled, and the story went viral on social media. “There was a crowd of people outside all furious,” Paul Connell, one of the actors hired to perform at the event told CNN on Wednesday. “I saw people shouting, the people running the event were crying … It was absolute chaos. Jack Proctor and his family were among those attending the experience, and they arrived once the event had been open for a couple of hours, he told CNN on Wednesday. “We were met by groups of families leaving the event, looking utterly bewildered,” he said.
Persons: Willy Wonka, ” Paul Connell, , Jack Proctor, Connell, , Proctor, ” Proctor, they’re, ” Connell Organizations: CNN — Families, Police Scotland, CNN, Facebook, ” CNN Locations: Glasgow, Scotland,
Read previewA "Willy's Chocolate Experience" last weekend turned out to be a whole lot less satisfying than people had hoped. This story is available exclusively to Business Insider subscribers. AdvertisementStuart Sinclair, who took his children to the event, called it an "absolute shambles." Several of the images featured on the website have tell-tale signs of AI art, but Business Insider was unable to independently confirm if the images were generated with AI. Stuart Sinclair called the event an "absolute shambles."
Persons: , Stuart Sinclair, Sinclair, Willy Wonka, Crave, elly Organizations: Service, Illuminati, Business, Wonka, Warner Bros, Police Scotland, Sky News, Police Locations: Glasgow, Scotland, ried
But don't confuse Osmani's overall optimism on the AI space for blanket bullishness on AI-adjacent stocks. Many AI stocks, in fact, are detached from fundamentals and are risky, he told Business Insider on Monday. As evidence of this, he cited the performance of a basket of 50 AI stocks his firm monitors. "We like companies that can monetize AI already, which, in effect, these companies are recipients of the sizable spend going on in AI — spend from the hyperscalers, spend from the corporates," he said. Below are five AI stocks that Osmani is betting on for the years to come.
Persons: Zehrid, Martin Currie, Osmani, , he's bullish Organizations: Business, Microsoft, Google, OpenAI, Design Systems Locations: Scotland
Daisy Ridley is better known as Rey in Star Wars — the sensitive Jedi whose attitude is nonetheless badass. My paternal grandmother, who died at 91, became Daisy Ridley — her maiden name was Duck of all things — in 1932 when she married my grandfather, Robert. And, just as the Star Wars character inspired women and girls to be strong, Nanny was our role model. She didn't want to have to leave at 60 — the retirement age for women in the UK back then. Daisy Ridley was wise and a positive force.
Persons: Daisy Ridley, Daisy Ridley —, Robert, Alison, Rey, Nanny, Daisy, Linda, babysat, Don Organizations: Rey, Star, Business, Star Wars Locations: Scotland
Learn moreWe're heading back to mainland Europe today for the clash of the blues in a free France vs. Italy live stream in this weekend's final Six Nations match. Wherever you are in the world, we'll show you where to watch France vs. Italy for free. ITV has you covered with today's free France vs. Italy live stream. ITV1 is showing the France vs. Italy live stream today and will host two out of three games each weekend. How to watch France vs. Italy live stream in the USANBC is the exclusive broadcast partner for the Six Nations in the United States.
Persons: ExpressVPN, Stan Organizations: Business, Nations, Wales, ITV1, BBC1, ITV, BBC, Six Nations, USA NBC, Six, Today's, Australia Australian, Sports Locations: Europe, France, Italy, Ireland, USA, United States, Today's France
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