Tax status allows Akshata Murthy to avoid tax on foreign earnings
Rishi Sunak’s multi-millionaire wife claims non-domicile status, it has emerged, which allows her to save millions of pounds in tax on dividends collected from her family’s IT business empire.
Akshata Murthy, who receives about £11.5m in annual dividends from her stake in the Indian IT services company Infosys, declares non-dom status, a scheme that allows people to avoid tax on foreign earnings.
Continue reading...Funds for remediation including removal of flammable cladding still short of £4bn government estimate
Major UK housebuilders have so far promised to spend about £1.3bn to remove cladding and other fire hazards from mid-rise housing blocks, but are still short of the estimated £4bn needed to avoid another Grenfell Tower-style disaster.
On Wednesday Barratt Developments and Redrow were the latest to reveal how much they would put aside to address life-threatening fire safety issues in the housing developments constructed by the firms over the past 30 years. Barratt said the decision would cost it up to £400m, while the figure for Redrow is £200m.
Continue reading...Joe Biden links new measures directly to accounts of atrocities committed by Russian forces in Bucha
The US has announced a new round of sanctions targeting Russia’s top public and private banks and two daughters of Vladimir Putin, following mounting global accusations of Russian war crimes in Ukraine.
The sanctions targeted Maria Vorontsova and Katerina Tikhonova, two adult daughters of Putin’s with his former wife Lyudmila Shkrebneva.
Continue reading...Electricity System Operator, the division that keeps the lights on in Great Britain, will form part of a new public body
The job of keeping the UK’s electricity and gas flowing will be returned to public control by 2024, under government plans for the effective nationalisation of a division of National Grid.
A new public body, the “Future System Operator”, will have responsibility for planning and managing energy distribution, with a focus on the challenges posed by decarbonisation.
Continue reading...John Lansdown seeking up to £76m, which he will use to set up trust to help fellow seafarers
A former P&O Ferries chef is suing the company for £76m over its decision to sack almost 800 staff without notice last month.
John Lansdown, the only seafarer to launch a legal action, has filed a tribunal claim against the company and its chief executive for unfair dismissal, racial discrimination and harassment.
Continue reading...Conflict adds strain to developing economies in east Asia and Pacific already struggling with Covid and inflation
Russia’s invasion of Ukraine has further dampened the economic prospects for developing countries in east Asia and the Pacific, meaning lower economic growth and higher poverty in the region this year, the World Bank has warned.
The Ukraine factor came on top of the existing risks that the region – home to 2.1 billion people and stretching from China to Papua New Guinea – has been facing in recent years. They included the ongoing Covid-19 pandemic, the financial tightening in the US, and the pandemic resurgence amid China’s zero-Covid policies.
Continue reading...In one of the largest claims in English legal history, 200,000 people affected by the 2015 incident will have their case heard this week
More than 200,000 victims of Brazil’s worst environmental disaster are seeking compensation in a UK court this week, in one of the largest group claims in English legal history.
The claimants, including representatives of Krenak indigenous communities, are fighting to get compensation for the devastation caused by the Mariana dam disaster in November 2015. The £5bn lawsuit is against the Anglo-Australian mining company BHP.
Continue reading...As the government presses ahead with the sale, what is the broadcaster worth and who would buy it?
The industry player most likely to buy Channel 4, with the least regulatory hurdles, is Discovery. The big US pay-TV company, which is merging with WarnerMedia, the parent company of CNN, HBO and the Hollywood studio behind the Batman and Harry Potter franchises, expressed interest the last time the broadcaster faced privatisation in 2016.
Continue reading...Some passengers stranded amid travel chaos at some of UK’s biggest airports
EasyJet cancelled more than 200 flights over the weekend with disruption expected to last into this week, leaving some passengers stranded amid travel chaos at some of Britain’s biggest airports.
The airline blamed the problems on high levels of sickness among employees caused by Covid, with at least 222 trips axed since Friday.
Continue reading...Analysis: newspapers have attracted record numbers of readers seeking trusted sources in uncertain times
From the pandemic and the war in Ukraine to the Westminster partygate saga, newspapers are benefiting from a financially lucrative news boom. However, is the news industry enjoying a one-off blip in the battle for survival against big tech, or is this proof that publishers have finally forged commercial models fit for the new media age?
In a sign of the shifting fortunes amid unprecedented news events, Rupert Murdoch’s Times and Sunday Times last week reported a doubling of operating profits to their highest level since 1990 and the Sun, a one-time cash cow turned high-profile casualty of the digital age, is within £1m of returning to operating profit for the first time in a decade.
Continue reading...With work changed forever by the pandemic, firms say shorter week could help attract and retain staff
More than 3,000 workers at 60 companies across Britain will trial a four-day working week, in what is thought to be the biggest pilot scheme to take place anywhere in the world.
Employees from a wide range of businesses and charities are expected to take part in the scheme, which will run initially from June to December, including the Royal Society of Biology, the London-based brewing company Pressure Drop, a Manchester-based medical devices firm, and a fish and chip shop in Norfolk.
Continue reading...Victorian Transport Action Group says standards recommended by World Health Organization are needed
Melbourne airport must adopt new health-based metrics based on World Health Organization research for its proposed third runway to ensure people aren’t exposed to harmful noise levels, a group of transport experts say.
The $1.9bn proposal for the airport’s 3km third runway, due to open by the end of the decade, will be submitted to the federal government for approval next year.
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Continue reading...High demand for crackers, wreaths and trees as sales soar beyond traditional bunnies and chocolate
Traditionally a time for bonnets, bunnies and a surfeit of chocolate, Easter has increasingly taken on a new aspect, and more so since the lifting of Covid-19 restrictions.
Easter crackers, Easter wreaths, and Easter trees are now critical components in the commercialisation of the Christian festival, with the bank holiday beginning to look a lot like Christmas.
Continue reading...Firms say they need the kind of help that EU competitors get as gas and electricity prices soar
Britain’s strategic heavy industries have warned they risk being left high and dry by a lack of support in the government’s upcoming energy strategy, warning that failure to follow European countries’ measures to reduce gas and electricity costs will put UK businesses at risk.
The government is expected to outline long-awaited proposals this week for a once-in-a-generation drive to invest in nuclear power and possibly more onshore wind and solar power, as well as approving continued North Sea oil and gas exploration.
Continue reading...Grant Shapps says invasion is ‘wake-up call’ but onshore wind plan seems to have been scaled down
A cabinet minister has rejected calls for the UK to consider rationing energy, as a plan to drastically increase onshore wind power also appeared to be significantly scaled back.
The transport secretary, Grant Shapps, said Russia’s invasion of Ukraine had been a “massive wake-up call” for western nations about their dependence on imported oil and gas, which European countries are now trying to wean themselves off.
Continue reading...Teamsters’ Sean O’Brien says the e-commerce company has ‘total disrespect’ for its workers
The Teamsters’ new president has pledged his powerful union will step up the pressure on Amazon and mount its own efforts to unionize the company after workers in New York voted to form the company’s first US union.
In an interview with the Guardian Sean O’Brien said it was vital to organize Amazon, asserting that the e-commerce company has “total disrespect” for its workers and was putting downward pressure on standards for unionized warehouse workers and truck drivers across the US.
Continue reading...Former BBC chair will lead watchdog even though report said his knowledge of social media and online safety clearly lacked depth
Michael Grade has been confirmed as chair of the communications watchdog despite MPs warning that he has a “clear lack of depth” of knowledge about social media and online safety.
The former BBC chair will lead Ofcom, which will play a key role in regulating large social media platforms and search engines in the UK, as the body charged with implementing the landmark online safety bill. However, the digital, culture, media and sport committee said on Friday that it was concerned by Lord Grade’s admission this week that he does not use social media but is aware of how it works thanks to his children.
Continue reading...Chancellor’s wife, Akshata Murthy, has £690m stake in Indian IT firm, which is now moving staff out of Russia
Indian IT services company Infosys, in which the chancellor Rishi Sunak’s wife owns an estimated £690m stake and collects about £11.5m in annual dividends, is “urgently” closing its office in Russia.
Infosys’s decision to shut its Moscow office comes as pressure mounts on Sunak to answer accusations that his family is collecting “blood money” dividends from the firm’s continued operation in Russia despite the invasion of Ukraine.
Continue reading...Britons face a shock as household costs soar – and some unexpected items such as beer also go up
It’s been dubbed “bleak Friday” by some: pre-announced price rises for many household bills are to take effect on 1 April, adding to the misery for consumers who are already paying more for goods and food than this time last year.
Continue reading...Group says Gambling Commission got it ‘badly wrong’ when deciding to hand operation of draw to Allwyn
The national lottery operator Camelot is launching a high court challenge to the Gambling Commission’s decision to hand over the operation of the draw to a rival after 28 years, accusing the regulator of getting the decision “badly wrong”.
In a statement, Camelot’s chief executive, Nigel Railton, said: “We are launching a legal challenge today in our capacity as an applicant for the fourth [national lottery] licence because we firmly believe that the Gambling Commission has got this decision badly wrong.”
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