US stocks on Wall Street closed at record highs again on Thursday, amid signs that Congress is closer to a deal on a budget and tax cuts. Financial and technology firms – among those expected to enjoy the greatest benefit from tax cuts – led the gains. The technology-focused NASDAQ rose 50.7 points, or 0.8%, to 6,585.3. […]
Bank calls for Brexit transition deal by Christmas
The UK and the EU must agree on a Brexit transition deal by Christmas or risk banks triggering their contingency plans, the Bank of England has warned. Deputy Governor Sam Woods said that while the UK is committed to an implementation period, the EU’s position “is not yet clear”. If no deal is reached, banks […]
Vijay Mallya: India tycoon faces new money-laundering charges
Indian drinks tycoon Vijay Mallya, who is charged with committing fraud in India, has been re-arrested in London for new money- laundering charges He appeared at Westminster Magistrates’ Court on Tuesday afternoon, after India issued new charges of money-laundering against him. Mr Mallya denies any wrongdoing. The allegations are linked to the collapse of his airline, […]
Amazon and Apple caught in latest EU tax crackdown
The European Union has launched a fresh crackdown over taxes paid by tech giants Amazon and Apple. Amazon has been ordered to repay €250m (£221m; $293m) in back taxes after the European Commission said it had been given an unfair tax deal in Luxembourg. The Commission also plans to take Ireland to court over its […]