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Budget 2021: ‘Now is not the time for tax rises’, say MPs

Budget 2021: ‘Now is not the time for tax rises’, say MPs

Business
Getty ImagesNow is "not the time for tax rises" as they could undermine the UK's economic recovery from Covid - but they may be needed at a later date, MPs have said.Ahead of the Budget announcement on Wednesday, a Treasury Committee report says public finances are on an "unsustainable long-term trajectory".It says some tax rises may not harm recovery, but advises against others.The committee's chairman, Mel Stride, told the BBC it was "almost inevitable" that some tax rises would occur.There has been much speculation that the rate of corporation tax might rise, and Mr Stride told the BBC's Today programme: "Putting up taxes is in general not a great thing to do but we are where we are and I think the committee view is that looking at income tax and looking at corporation tax is... the rig...
Dow rises nearly 230 points as markets rebound from hectic week

Dow rises nearly 230 points as markets rebound from hectic week

Business
Feb. 1 (UPI) -- U.S. markets rebounded Monday following their worst week since October as investors seemed to set aside concerns about speculative trading. The Dow Jones Industrial Average rose 229.29 points, or 0.76%, to climb back above 30,000 points after last week's losses. Meanwhile, the S&P 500 gained 1.61% and the Nasdaq Composite ended the day up 2.55%. Advertisement Tech stocks helped to lift the market higher as Amazon stock gained 4.26%, Google's parent company, Alphabet, climbed 3.6%, Microsoft increased 3.32% and Apple closed up 1.65%. GameStop stock, which had increased by 400% last week after being targeted by members of the r/WallStreetBets subreddit, dropped by 30.77% on Monday. Members of the group bought large amounts of the GameStop shares as well as other heavily-...
Reliance Capital’s total outstanding debt rises to Rs 20,380 crore

Reliance Capital’s total outstanding debt rises to Rs 20,380 crore

Finance
NEW DELHI: Reliance Capital Ltd (RCL), part of Anil Ambani-promoted Reliance Group, has said the total outstanding debt rose to Rs 20,379.71 at the end of December 2020. The total debt, including interest, stood at Rs 19,805.7 crore on August 31, 2020. Total financial indebtedness of the listed entity, including short-term and long-term debt and accrued interest, was Rs 20,379.71 crore at the end of December 2020, Reliance Capital said in a regulatory filing on Thursday. The principal amount due to HDFC Ltd is Rs 523.98 crore and to Axis Bank Rs 100.63 crore, RCL said. The total amount of outstanding borrowings from banks and financial institutions works out to Rs 700.76 crore, including accrued interest up to December 31, the company added. Similarly, another group company Reliance Home F...
Virgin Media broadband price rises of up to £54 in 2021

Virgin Media broadband price rises of up to £54 in 2021

Technology
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Death toll from suspected militant attacks in Niger rises to 100, PM says

Death toll from suspected militant attacks in Niger rises to 100, PM says

World
At least 100 people are now known to have been killed in attacks by suspected jihadists on two villages in Niger, the country's prime minister has said.Brigi Rafini said 70 people were killed in the village of Tchombangou and 30 others in Zaroumdareye, both near Niger's western border with Mali, on Saturday. During remarks aired on national television during a visit to the area, Mr Rafini did not say who was behind one of the deadliest days in recent memory for a country ravaged by ethnic violence and Islamist militancy. Image: Niger's prime minister, Brigi Rafini, announced the rise in the number of dead as he visited the area Niger has suffered repeated attacks by militants linked to al Qaeda and Islamic State near its borders with ...