Roundup Newswires

Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network

Shares in UK gambling firms fall £3bn amid talk of higher taxes in budget

Posted on October 14, 2024 by Admin

Thinktank reports saying sector should be hit with extra £900m to £3bn in levies prompts market selloff

Shares in British gambling companies have dropped sharply, reducing the stock market value of large operators by more than £3bn, after the Guardian reported that Treasury officials could tap the sector for between £900m and £3bn in extra taxes.

The chancellor, Rachel Reeves, has come under pressure from two influential thinktanks to raise taxes on the industry, as she pulls every available lever to plug a £22bn “black hole” in the nation’s finances.

Markets plunge despite coordinated action by central banks

Posted on March 16, 2020 by Admin

Sharp losses recorded after US interest rate cut, as Bank of England hints at further support to combat turmoil

The FTSE 100 fell below 5,000 points on Monday and trading on Wall Street was suspended for the third time in a week as markets were gripped by mounting concerns over the threat of a global recession, despite a coordinated effort by central banks to protect growth and jobs.

In an escalation of the worst turmoil since the 2008 financial crisis, stock markets suffered further sharp losses on Monday despite dramatic action taken by the US central bank late on Sunday in an attempt to limit the economic impact of the coronavirus pandemic.