Bloomberg Liz Truss is considering cutting Britain’s VAT sales tax by as much as 5 percentage points across the board, the Telegraph reported, a move that may head off criticism she lacks a plan to tackle the country’s cost of living crisis. The potential reduction to 15%, flagged in a newspaper that has strongly backed her leadership campaign against ...

  Bloomberg It’s starting to look like nothing can stop the British pound from sinking to new lows. With talk about inflation surpassing 18% next year and families across the country likely to be pushed into energy poverty this winter, the UK’s economic woes are getting worse by the day. The consensus among traders is that the Bank of England ...

  Bloomberg French Prime Minister Elisabeth Borne is leaving open the possibility of a new tax on corporate “super profits” after lawmakers rejected the move last month. In an interview published in Le Parisien newspaper, Borne said she’d prefer alternatives to a windfall levy, such as companies lowering prices for consumers and giving bonuses to employees to bolster their spending ...

  Bloomberg Confidence in Germany’s business outlook fell in August as soaring inflation and fears about a possible recession in Europe’s largest economy has intensified. The Ifo Institute’s gauge of business expectations for the next six months inched down to 80.3 from 80.4 in July, though economists had predicted a steeper decline. Current conditions were also assessed more negatively. Still, ...

  Bloomberg Scotland’s public spending deficit shrank after revenue from the North Sea oil industry jumped to the highest in eight years and helped offset the fallout from the pandemic. The shortfall dropped to 23.7 billion pounds ($28 billion), or 12.3% of gross domestic product, in the 2021-22 financial year, according to the Government Expenditure and Revenue Scotland report. That ...

  Bloomberg Tesla Inc will start charging $15,000 for the driver-assistance system it calls Full Self-Driving, raising the price of the controversial product for the second time this year. The hike for customers in North America will take effect from September 5, Chief Executive Officer Elon Musk tweeted. The current $12,000 price will be honoured for orders made before that ...

  Bloomberg Apple Inc announced plans to hold a launch event on September 7, when the tech giant is expected to unveil the iPhone 14 lineup and its next slate of smartwatches, confirming a date that was reported by Bloomberg News. The company sent out invitations for a presentation titled “Far Out,” describing it as an in-person event at the ...

  Bloomberg Nurses in some parts of England will trial smart goggles on visits to patients’ home as the struggling UK National Health Service turns to digital gadgets to try and improve services. As long as individual patients consent, the virtual reality headsets will help nurses transcribe medical records, automate administrative work, and share live footage for consults with hospital ...

  Dubai / Gulf Time SonicWall announced the introduction of the new Wi-Fi 6 wireless security product line, which provides always-on, always-secure connectivity for complex, multi-device environments. Powered by Wi-Fi 6 technology, the new SonicWave 600 series wireless access points, coupled with Wireless Network Manager (WNM) 4.0, enable organisations to automatically secure wireless traffic while boosting performance and simplifying connectivity. ...

  Bloomberg Ford Motor Co said it is cutting 3,000 jobs in a move to boost profits as it seeks to fund the $50 billion it plans to spend on electric vehicles. The cuts will come primarily in the US, while some positions also are being eliminated in Canada and India, a company spokesman said. The total includes 2,000 salaried ...