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The Green Party of England and Wales is calling for a 38% windfall tax on the profits of big banks to support small and medium-sized businesses. Leader Zack Polanski said the tax would be applied to UK profits of more than £800m and be used to cut tax bills for a million smaller companies.The idea was floated by the campaign group Positive Money, which estimated it would raise £19bn a year.When a similar idea was raised last year, the trade body UK Finance said banks already paid both a corporation tax surcharge and a bank levy.Polanski has previously claimed banks…
SEOUL, SOUTH KOREA – AUGUST 7: (L to R) Col. Lee Sung-jun, public affairs director of South Korea’s Joint Chiefs of Staff and Col. Ryan Donald, public affairs director of the United Nations Command (UNC), Combined Forces Command (CFC), and United States Forces Korea (USFK) bump fists during the press briefing for the Ulchi Freedom Shield 2025 exercise at the Defense Ministry on August 07, 2025 in Seoul, South Korea. The 11-day Freedom Shield is part of an annual combined training with troops from South Korea and the United States. (Photo by Chung Sung-Jun/Getty Images)Chung Sung-jun | Getty Images News…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.It is a familiar conundrum. One confidently sets off in a direction that turns out to be wrong: is it better to press on and try to make the best of the chosen route, or to write off the time and money and turn back? That is a pertinent question for the UK. The country’s energy costs are high and rising, with household bills expected to hit three-year peaks. International gas prices are mostly to blame, but the structure of the market doesn’t…
In early 2015, flower crowns started appearing on Ed Miliband’s head. Petals and hearts were photoshopped on to the then-Labour leader by the “Milifandom”, a movement of young, mostly female, voters sharing romanticised images on Twitter to protest against Miliband’s “distorted media portrayal”.It was the brainchild of Abby Tomlinson, a 17-year-old sixth-form student, who came to the defence of the man she called “Milibae”. The hashtag #Milifandom trended. Then Labour lost the 2015 election.This prompted David Cameron, whose Conservatives increased their number of seats, to boast: “Britain and Twitter are not the same thing.” Tomlinson later told me that having…
US President Donald Trump delivers remarks during a meeting with cryptocurrency executives in the Roosevelt Room of the White House in Washington, DC, on Aug. 19, 2026. Jim Watson | AFP | Getty ImagesPresident Donald Trump said the U.S. will launch what he called the “most crushing economic operation ever taken against any country” against Iran, threatening severe financial penalties on any nation that helps Tehran evade sanctions. In a Truth Social post, Trump said that “this will be Economic Warfare and Isolation on an unprecedented scale.” “No one has given the Islamic Republic of Iran a greater opportunity to…
The Ministry of Justice (MoJ) said it was building more prisons while exploring early release options and expanding electronic tagging.The figures come after Prime Minister Andy Burnham made more prisoners exempt from the upcoming early release scheme following backlash from victims.Burnham came under further pressure after the killers of PC Andrew Harper would still be eligible for early release. PC Harper, 28, was killed in 2019 when he was dragged by a car down a country road as three teenagers fled the scene of a quad bike theft in Berkshire.Last week, Burnham said he was “confident” PC Harper’s killers could…
Traders work on the floor of the New York Stock Exchange. NYSEWednesday was already shaping up to be the best for crypto assets in recent memory, with bitcoin trading the highest since June as President Donald Trump scheduled a meeting with industry leaders.Then the big news hit.Around 3 p.m. ET, the president hinted at regulating Hyperliquid, the decentralized exchange owned by publicly traded Hyperliquid Strategies (PURR) that’s been garnering popularity among traders as the home base of “perpetual futures” trading – the swap-like derivatives contracts with high leverage and no expiration that have been a thorn in the side of…
A convicted people smuggler who was found by the BBC to be living in Leicestershire has been arrested and charged with immigration offences.Twana Jamal Khdir, an Iraqi national who was once described as “the godfather” of the French migrant camps, previously served a sentence for people smuggling in France.Last month, the BBC revealed he was now living in the UK.The BBC has been told he was arrested on Tuesday near Uppingham in a joint operation led by the Midlands Criminal Financial Investigations team, with the support of Leicestershire Police.He was charged by the Crown Prosecution Service and appeared at Leicester…
Scott Bessent, US treasury secretary, gives remarks during the launch of the “Fostering the Future Accounts” at the US Treasury Department in Washington, DC, US, on Thursday, June 11, 2026. Aaron Schwartz | Bloomberg | Getty ImagesTreasury Secretary Scott Bessent is in the midst of a historic effort to tamp down long-term Treasury yields. He may also be complicating the work of his counterpart at the Federal Reserve, Chairman Kevin Warsh.The Treasury Department on Wednesday said it would increase its buybacks of long-term Treasury debt, raising the maximum it will buy from $2 billion to at least $4 billion. The…
Jon Burrows has said he will confirm on Thursday who will replace Mike Nesbitt as health minister. Source link