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Monday, June 14, 2021

Tip Jar launched by Twitter to allow people to send money to influencers on its site

Twitter has launched a new “tip jar” feature that lets people send money to others on the social network. The company says the feature is “an easy way to support the incredible voices that make up the conversation”. To begin with, only a select group of people can receive tips – a group Twitter said […]

Figures reveal lower than expected employment in the US in April

US employers hired fewer workers than expected last month despite a huge stimulus package that saw the government send $1,400 (£1,000) cheques to most Americans. Just 266,000 jobs were added in April and the unemployment rate edged up to 6.1%, according to the Bureau of Labor Statistics. It said a hiring spree among leisure and […]

IBM creates 2nm chip which many say can be a game-changer

IBM says it has made a significant breakthrough in computer processors by creating a 2nm chip in its test lab. IBM claims its test chip can improve performance by 45% over current 7nm commercially available products. It is also more energy efficient – using 75% less energy to match current performance, IBM said. It claims […]

UK economy expected to grow 7.25% the highest in 70 years

The UK economy will enjoy its fastest growth in more than 70 years in 2021 as Covid-19 restrictions are lifted, according to the Bank of England. The economy is expected to expand by 7.25% this year, with extra government spending helping to limit job losses. However, it follows a contraction of 9.9% in 2020, the […]

Warren Buffett tips Greg Abel to replace him at Berkshire Hathaway

Investor Warren Buffett has confirmed that Berkshire Hathaway’s vice-chairman, Greg Abel, will succeed him as chief executive. Mr Buffett built Berkshire Hathaway from a failing textile maker into a $628bn (£452bn) investment juggernaut. Although he is 90 years old, Mr Buffett has given no indication he plans to step down. However, there has been speculation […]

Shoe maker Crocs sees an uptick in sales for the rest of the year

No, you didn’t imagine it. The Academy Awards’ musical director Questlove really did wear a pair of crocs on the Oscars red carpet this year. But they were spray-painted gold for the special occasion. Whether you love them or loathe them, crocs are making a comeback. On Tuesday, the shoe-maker reported record sales in the […]

The richest expected to be further tax by President Biden according to reports

US President Joe Biden is reportedly set to propose a tax hike on the wealthiest Americans. The proposal would raise the top marginal rate and increase taxes on investment gains for the rich. The tax rise would help pay for childcare and education, but would not be used for healthcare, according to reports. The news […]

UKs government borrowing highest for first time since WWI

The cost of measures to support the economy during the coronavirus pandemic has pushed government borrowing to the highest level since the end of World War Two. Government borrowing – the difference between spending and tax income – hit £303.1bn in the year to March, the Office for National Statistics said. Compared to the previous […]

Figures show under 35s most affected by job uncertainty in the UK

Younger people continue to bear the brunt of the jobs crisis amid widespread cuts in sectors such as hospitality, official figures show. In the year to March, 811,000 payroll jobs were lost in the UK, with under-35s accounting for 80% of these cuts. The data also showed the unemployment rate dipped to 4.9% in the […]

Ant Group forced to restructure by Chinese regulators

China has forced a sweeping restructure on the Ant Group so the financial technology firm acts more like a bank. Ant Group’s mega $37bn (£27bn) share market launch was derailed by regulators in November over concerns about its finance model. The latest move is part of a wider crackdown by China to reign in the […]