Tax

Wayve Uber wins first minicab licence for autonomous cabs from TfL but vehicles will have a safety driver (at first)The taxi app company Uber and the autonomous technology developer Wayve have been granted the first minicab licences in London, allowing them to offer self-driving taxi rides to paying customers – but with a human safety driver in place, for now.The companies said they would start trips in the UK “later this summer” before the full public launch. Continue reading...

Software group benefits from global systems and accounting practices ‘that enable tax to be shirked’, says union bossThe software group Palantir paid just £2m in corporation tax in the UK in 2024, despite holding public sector contracts worth hundreds of millions, thanks to tax breaks that are likely to reduce its contributions to governments around the world for years to come.The US-headquartered company, which has harnessed AI to secure lucrative work for the NHS and the Ministry of Defence, is growing exponentially. Continue reading...

Airline removes carry-on weight limit but will charge for bags that don’t fit under seat. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning, and happy Wednesday. Nick Visser here bright and early. Here’s what’s on deck.Jetstar will make it more difficult for travellers to bring carry-on baggage onboard an aircraft. The company will remove its 7kg carry-on weight limits, but impose a size-based model that will allow customers to bring just one underseat bag. An overhead bag will now cost. Continue reading...

Levy could raise £19bn to help pay for Andy Burnham’s support for those struggling with bills, say campaignersBusiness live – latest updatesCampaigners have renewed calls for a windfall tax on UK banks that could raise £19bn towards Andy Burnham’s cost of living agenda, after HSBC raked in $10.1bn (£7.5bn) worth of profits in the second quarter of the year.Bosses at HSBC reported on Tuesday that profits rose 60% year on year in the three months to the end of June, helped by fees from wealth management and insurance business, as well as higher interest rates, which allow the bank to charge more for loans and mortgages. Continue reading...

• August features several critical financial deadlines and updates, including the August 31 deadline for filing Income Tax Returns (ITR). • The Reserve Bank of India's Monetary Policy Committee (RBI-MPC) met from August 3 to August 5 to decide on the repo rate, with economists expecting it to remain unchanged. • Other significant regulatory updates for the month include changes to Sebi trading rules and the implementation of CKYC 2.0.

Cotality data shows a drop in Brisbane, Adelaide and Perth, as nation’s median home price falls about $19,000 below its March peakGet our breaking news email, free app or daily news podcastHouse prices have fallen in Brisbane, Adelaide and Perth as the market downturn spreads across Australia.New Cotality data, released on Monday, showed prices have fallen across most of the nation since May. Continue reading...

Indian conglomerate offsets earnings from Carmichael mine to report $340.6m loss, after promising billions in taxes and royaltiesGet our breaking news email, free app or daily news podcastIndian conglomerate Adani will pay no company tax despite generating almost $1bn in revenue from coal mining in Queensland over the past year.Financial accounts show the Carmichael thermal coal operations used large costs – including production and related party logistics expenses – to offset its $963.5m revenue in the 12 months to 31 March. This resulted in a recorded $340.6m loss for the year, erasing it’s tax bill. Continue reading...

California governor and wife, Jennifer Siebel Newsom, release 2022-2024 filings amid Trump investigationGavin Newsom and his wife made from $1.7m to $2m annually from 2022 through 2024, and paid about half a million a year in federal and state taxes, according to tax returns released by his office.The California Democratic governor’s office released more than 700 pages of tax filings spanning four years for reporters to review, offering a window into Newsom’s finances as he prepares to leave office and considers a 2028 presidential bid. Newsom’s office did not release returns for 2025, because the couple filed for an extension and will complete those returns in October. Continue reading...