DIRS.INFO The most relevant business & tech news

☆ UK's taxes are at a 70-year high. But its finance minister won't splash the cash at upcoming Budget
▼ + stars: | 2023-03-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

U.K. Finance Minister Jeremy Hunt has said Britain should have a "20-year plan" to become the world's next Silicon Valley. Public sector borrowing has also undershot by around £30 billion year-to-date, economists noted this week, in part reflecting higher-than-expected tax receipts. This will lend credence to Hunt's aims of bringing public sector net borrowing below 3% by 2027/28. LONDON — British Finance Minister Jeremy Hunt will deliver the government's Budget commitments on Wednesday against a better-than-expected economic backdrop, but economists expect him to stay cautious for now. The U.K. economy flatlined in the final quarter of the year to narrowly avoid entering a technical recession, though suffered a sharp slump in December.

☆ This high-school teacher mocks rich people who pay hundreds of dollars for designer dog collars and now has 1.5 million TikTok followers
▼ + stars: | 2023-03-12 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Shabaz Ali is a chemistry teacher who's gained 1.5 million TikTok followers by mocking the rich. His audience knows him as "the CEO of 'I'm rich, you're poor,'" – a series of videos in which Ali satirizes the luxurious lifestyles some people share online. "We don't want to sit there being bombarded with images of beautiful people doing beautiful things with their beautiful money." He has no plans to become an influencer himself and won't be quitting his teaching job any time soon. Despite getting 177 million views on TikTok in December, he says he earned just £28 ($33.)

☆ Aston Martin shares surge 14% on profitability forecast for 2023
▼ + stars: | 2023-03-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

LONDON — British luxury carmaker Aston Martin Lagonda forecasts better profitability this year, after widening its 2022 pretax losses on the back of a weakening U.K. currency. Revenues rose by 26% on the year to £1.38 billion, with gross profit up by 31% year-on-year to £450.7 million. The figure included more than 3,200 of vehicles from the Aston Martin DBX range, of which more than half were driven by the launch of the DX707 SUV model unveiled in February last year. Aston Martin Lagona shares soared, up 14% at 10 a.m. London time, after Aston Martin Lagonda issued more optimistic guidance for this year. "Our order book's never been stronger," Aston Martin Lagonda Executive Chairman Lawrence Stroll told CNBC last month.

British Prime Minister Rishi Sunak looks on outside Number 10 Downing Street, in London, Britain, January 25, 2023. LONDON — British Prime Minister Rishi Sunak on Monday signed a new trade deal with the European Union designed to remedy problems caused by the Northern Ireland Protocol. European Commission President Ursula von der Leyen added that the framework "respects and protects our respective markets and our respective legitimate interests. Sterling hit a session high of $1.2051, up 0.9%, shortly after the announcement. He said lawmakers would get to vote on the new agreement "at the appropriate time," adding that vote will be "respected."

☆ Britain and EU close in on crucial Brexit deal for Northern Ireland
▼ + stars: | 2023-02-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The U.K. may have left the European Union on Jan. 31, 2020, but the Northern Ireland Protocol has sparked persistent disagreement ever since. This part of the Brexit deal mandates checks on some goods that travel to Northern Ireland from the rest of the U.K. — with the new negotiations aimed at easing these rules. Unionist parties in Northern Ireland — which is part of the U.K, unlike its neighbor Ireland, which is part of the EU — have argued that the checks place an effective border in the Irish Sea. The Protocol has also been criticized for jeopardizing the Good Friday Agreement — a long-standing peace deal that brought an end to three decades of sectarian violence in Northern Ireland. Meanwhile, the devolved Northern Ireland Assembly has been suspended since Feb. 2022 after the Democratic Unionist Party resigned in protest at the Northern Ireland Protocol.

☆ British finance minister sticks to tax-hiking plans, pledges post-Brexit reforms
▼ + stars: | 2023-01-27 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Optimism in the U.K. economy has been in "short supply" in recent months, Hunt said. The Finance Minister stressed the importance of making the U.K. a place where companies want to do business. Hunt's speech comes as the U.K. inflation rate most recently reached 10.5% in December, well above the Bank of England's target of 2%. U.S. Inflation Reduction Act concernsJeremy Hunt said the U.K. government has "some concerns" about the U.S. Inflation Reduction Act in a Q&A session that followed his speech Friday. Absolutely not," Hunt added.

☆ How 'trickle-down economics' backfired on Britain's shortest-serving prime minister
▼ + stars: | 2022-10-25 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

On October 20th, 2022 — after just 44 days in office — British Prime Minister Liz Truss resigned. Trickle-down economics, a term most closely associated with Ronald Reagan and Margaret Thatcher. So just why did the U.K. try to revive trickle-down economics? Watch the video above to find out why the U.K. attempted to revive trickle-down economics and how it caused the country's fiscal strategy to implode. Disclaimer: CNBC conducted the interviews in this feature prior to Liz Truss' resignation on October 20.

☆ British Prime Minister Liz Truss resigns after economic plan sparked turmoil
▼ + stars: | 2022-10-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +4 min

LONDON — British Prime Minister Liz Truss announced Thursday that she would resign after just six weeks in office, following a disastrous and rapidly reversed economic plan that sent the pound plunging and her government into chaos. Britain's Prime Minister Liz Truss delivers a speech outside No. She ended the brief statement by saying: "I will remain as prime minister until a successor is chosen." Liz Truss is now the shortest-serving prime minister in British history. Her personal approval rating fell to minus 70, according to pollsters at YouGov, making her the most unpopular party leader in British history.

☆ With UK leader Liz Truss quitting, here are the top contenders to replace her
▼ + stars: | 2022-10-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

"Given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party," she said in a brief speech Thursday afternoon. Here are the main contenders for the top job:Rishi SunakRishi Sunak, Britain's former finance minister and Truss' main opponent in this year's Conservative Party leadership race, is now seen as a favorite to replace her. Britain's former finance minister Rishi Sunak was Liz Truss's main opponent in this year's Conservative leadership race. Penny MordauntFormer Defense Secretary Penny Mordaunt surged to prominence during the summer's leadership race, before finishing in third place to Truss and Sunak. Leader of the House of Commons Penny Mordaunt is seen as a consensus candidate who could unite a splintered Conservative Party.

☆ UK PM Liz Truss says she’s a ‘fighter not a quitter’ as lawmakers plot to oust her
▼ + stars: | 2022-10-19 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

British Prime Minister Liz Truss departs 10 Downing Street for the weekly Prime Minister's Questions (PMQs) in the House of Commons in London, United Kingdom on October 19, 2022. LONDON — British Prime Minister Liz Truss insisted Wednesday she was a "fighter not a quitter" as she was grilled by parliamentarians for the first time since being forced to scrap almost all of her flagship fiscal policies. Mortgage deals were also pulled as interest rate hike expectations rose rapidly. Full details of the government's new economic policies are expected Oct. 31, along with an independent economic forecast. "I had to take the decision because of the economic situation to adjust our policies," Truss said.

☆ Hong Kong protester assaulted at Chinese consulate in Britain
▼ + stars: | 2022-10-18 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

LONDON — British police said Monday they were investigating the assault of a Hong Kong pro-democracy protester who was beaten up on the grounds of the Chinese consulate in the city of Manchester. The man, who is in his 30s, told the BBC that unidentified Chinese men from the consulate building dragged him inside the consulate and assaulted him during a protest Sunday. The protesters had gathered as the Chinese Communist Party opened its weeklong congress in Beijing. The Chinese consulate in Manchester did not immediately respond to requests for comment. The protesters had gathered as the Chinese Communist Party opened its weeklong congress in Beijing on Sunday.

☆ UK Finance Minister Kwasi Kwarteng fired after market chaos and tax-cutting plans
▼ + stars: | 2022-10-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Kwasi Kwarteng, UK chancellor of the exchequer, speaks at a fringe event during the Conservative Party's annual autumn conference in Birmingham, UK, on Tuesday, Oct. 4, 2022. LONDON — British Finance Minister Kwasi Kwarteng was fired on Friday after less than six weeks in the role, amid mounting political pressure and market chaos. "The economic environment has changed rapidly since we set out the Growth Plan on 23 September. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches." Jeremy Hunt — a former Health Secretary and Foreign Secretary — was announced as Kwarteng's successor.

☆ 'British Bake Off' episode is getting heat for stereotyping Mexican culture
▼ + stars: | 2022-10-07 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +5 min

CNN —A recent episode of “The Great British Bake Off” is drawing criticism from some viewers for its depictions of Mexican culture. At another point, Fielding muses, “So, is Mexico a real place?” while Lucas, in turn, likens the country to Xanadu. 🇲🇽🇲🇽🇲🇽 #GBBO pic.twitter.com/A4aX43H5rd — British Bake Off (@BritishBakeOff) October 4, 2022The episode’s flippant tone and use of stereotypes rubbed many viewers the wrong way. “But that would have called for more actual knowledge about Mexican culture and cuisine which is clearly lacking here.”CNN has reached out to “The Great British Bake Off” for comment. Since the first episode aired in 2010, “The Great British Bake Off” – which streams stateside as “The Great British Baking Show” – has become a cultural phenomenon, soothing viewers with its spirit of camaraderie and offering them an escape.

LONDON — British Prime Minister Liz Truss on Monday ditched her signature plan to cut taxes for the country's top earners after it triggered market turmoil and a huge domestic outcry. The pound rose after the announcement to around $1.12 — about the value it held before the Sept. 23 budget announcements. The dramatic reversal comes just hours after Truss defiantly defended the tax cut and her broader radical economic agenda, saying it was necessary to solve the country’s long-term economic woes. Faced with a growing political rebellion after days of economic chaos, the government said early Monday it was abandoning the plan. The plan to cut taxes for the wealthy was part of a broader "mini-budget" announced soon after the new administration took office.

☆ UK PM Liz Truss defends tax cuts, vows to press on
▼ + stars: | 2022-09-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — British Prime Minister Liz Truss on Thursday defended the fiscal policies announced last week which sparked chaos in U.K. markets, saying the country had been put on a "better trajectory." "I understand that families are struggling with their fuel bills, and we had to take urgent action to get our economy growing, get Britain moving, and also deal with inflation," she said. But I'm prepared to do that as prime minister, because what's important to me is that we get our economy moving." The measures unveiled last Friday included the biggest set of tax cuts since the 1970s, projected to total £45 billion ($48.6 billion). It sparked a historic sell-off in U.K. government bonds and a rapid fall in the value of the pound against the dollar, with sterling hitting an all-time low Monday.

Bottom line: The Capital One Venture X Rewards Credit Card is an excellent premium credit card with top-notch benefits and travel protections. These perks make the Capital One Venture X Rewards Credit Card incredibly competitive compared to other premium cards. If you're looking for a premium credit card, here's what to know to help decide if the Capital One Venture X Rewards Credit Card is best for you. Capital One Venture X — Frequently Asked Questions (FAQ)Is the Capital One Venture X worth it? Yes, it's possible to get approved for the Capital One Venture X Rewards Credit Card if you already have the Capital One Venture Rewards Credit Card open.

Search resuls for: "— British"

16 mentions found