NEWPORT NEWS, Va., Nov. 01, 2024 (GLOBE NEWSWIRE) — HII (NYSE: HII) hosted United Kingdom defense leaders at the company’s Newport News Shipbuilding division Tuesday. Madelaine McTernan, chief of defence nuclear at the Ministry of Defence, led the U.K. delegation. Adm. William Houston, director of the U.S. Naval Nuclear Propulsion Program, accompanied them. “It was...
Category: Bussiness
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UK skilled worker visa extension 2024: Key updates on new regulations
The UK government has implemented significant changes to the Skilled Worker Visa regulations in 2024, affecting both new applicants and existing visa holders. These adjustments, as stated, aim to ensure that international workers meet updated criteria and adapt to the evolving job market. The Skilled Worker Visa allows international workers with the necessary skills to...
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UK Budget 2024 drives shift to EV fleets, tightens company car loopholes
Credit: Shutterstock.com In response to the Chancellor’s Budget yesterday, Matthew Walters, UK Head of Consultancy Services and Customer Value at Ayvens, has issued the following statement: Company car tax Announcing company car tax bands to 2030 was perhaps the most significant measure for fleets, who previously only had visibility until April 2028. The Autumn Statement...
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Warning workers’ pay will be hit after Budget
The Budget has sparked a debate over whether an increase in employers’ NICs will feed through to smaller pay rises for workers, or whether firms can absorb the higher costs in other ways. Pay before tax is levied, is still expected to rise over the course of the parliament, but only slowly – by 1.7%...
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Budget Dismay for UK Startup and Business Founders
Come back, Kwasi, all is forgiven. Well, that would be a stretch, speaking as one of hundreds of thousands of people whose mortgage bill increased thanks to Kwarteng’s catastrophic budget. But, for business founders, it’s been a hurtful few days of build up to Rachel Reeves’ budget reveal. Her autumn budget, launched today, has already...
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UK’s Labour government raises taxes by 40bn pounds in first budget
Finance minister Rachel Reeves has said the tax hike will be used to fund public services and bolster public finances. British Chancellor of the Exchequer Rachel Reeves has told lawmakers that taxes will rise by 40 billion British pounds ($52bn) in order to plug a hole in the public finances and provide new funding for...
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British companies now face uphill struggle after budget of more tax, more borrowing and more spending
More tax, more borrowing, more spending. This was a big budget by every measure, but will loom largest for businesses that will bear the brunt of the revenue raising. Around £25bn of those tax rises will come from the 1.2 percentage point increase in employer national insurance contributions to 15%. This is a muscular hike...
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In UK budget, Britain targets the wealthy as it hikes taxes by $52 billion | CNN Business
London CNN — The United Kingdom is raising taxes by an eye-watering £40 billion ($52 billion), as the government seeks to plug a hole in its finances by targeting higher earners, wealthy foreigners and businesses. UK finance minister Rachel Reeves, the first woman to ever hold the position, unveiled the tax hikes Wednesday in the...
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A Budget to fix the foundations and deliver change for Northern Ireland
Chancellor takes long-term decisions to restore stability, rebuild the United Kingdom and protect working people across Northern Ireland. No change to working people’s payslips as employee national insurance, income tax and VAT stay the same, but businesses and the wealthiest asked to pay their fair share. Record £18.2 billion for the Northern Ireland Executive in...
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Chancellor chooses a Budget to rebuild Britain
Chancellor protects public services as departments’ day-to-day spending set to grow by an average of 3.3% in real terms between 2023-24 and 2025-26, including increase of more than £22 billion for health to help bring down waiting lists. Budget will restore economic stability and begin a decade of national renewal, providing a boost to public...
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British Airways is massively cutting back its business class meals
Things haven’t been going entirely to plan for British Airways in the past few weeks. While the UK’s national carrier was named one of the best airlines in the world by both the Telegraph and Condé Nast Traveller, earlier in October BA was forced to cancel hundreds of long-haul flights including all flights from London...
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Reeves accepts tax-raising Budget likely to hit wage growth for workers
Economy, growth, the OBR… what’s it all about?published at 11:52 Greenwich Mean Time 31 October 11:52 GMT 31 October Dearbail JordanBusiness reporter We’ve been hearing a lot about the Office for Budget Responsibility (OBR) and its forecasts for economic growth – but what does that actually mean? At the very basic level, you want the...