FTSE 100 Succession Is a Drama Too Painful to Watch
Among those playing lately: Oil major BP Plc just had its fun, lender HSBC Holdings Plc is fully immersed, and insurer Prudential Plc is just getting started.
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21 minutes ago
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Rachel Reeves under pressure to ‘urgently rule out' tax hikes
The Conservatives are urging Chancellor Rachel Reeves to "urgently rule out" increasing share taxes in the upcoming autumn budget, following the leak of a memo from Angela Rayner suggesting a series of tax hikes. The Tories argue that leaving investors "in limbo" could harm the economy. The party claims that scrapping the £500 dividend allowance would pull an estimated 5.22 million more individuals into paying investment levies. This pressure on ministers comes after a document, reportedly sent by the Deputy Prime Minister to Ms Reeves, was leaked to the press. In the memo, Ms Rayner proposed removing the dividend allowance to generate approximately £325 million annually, as well as axing inheritance tax relief for AIM shares and increasing dividend tax rates, according to The Telegraph. Shadow chancellor Mel Stride commented: 'The Government need to urgently rule out these tax hikes on savers and investors before speculation causes further economic harm. 'Labour don't understand how business works and how to create growth. More taxes on investment, entrepreneurship and saving are the last thing our economy needs right now.' The Government's U-turns over welfare reform and winter fuel payments have left the Chancellor with a multibillion-pound black hole to fill, fuelling speculation that she will seek to raise revenue through tax hikes. The Tories claimed axing the dividend allowance would drag 'an estimated 5.22 million more people into paying dividend tax'. This figure appears to be based on an assumption that at least 8.82 million people in the UK hold shares that pay dividends. Some 3.6 million are already subject to dividend tax, according to data obtained by investment platform AJ Bell through a Freedom of Information request. The Chancellor last year said she would not be 'coming back with more borrowing or more taxes' after her first budget but has since refused to rule out raising specific levies, saying it would be 'irresponsible' to do so. A Labour Party spokesperson said: 'The Conservatives have some brass neck. They've still not apologised for the damage caused by the Liz Truss mini-Budget, nor the £22 billion black hole they left – which hammered firms and families across the country. 'Labour is doing more to support business than the Tories ever could. 'We've already delivered three historic trade deals and four interest rate cuts – to reduce costs and put money back in people's pockets.'
Yahoo
21 minutes ago
- Yahoo
Pearson PLC (PSO) (H1 2025) Earnings Call Highlights: Strategic Partnerships and AI Innovations ...
Release Date: August 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Pearson PLC (NYSE:PSO) reported a 2% increase in sales and adjusted operating profit for the first half of 2025, aligning with their February guidance. The company is making significant progress in strategic partnerships, including new relationships with Google Cloud, Microsoft, and AWS, which are expected to drive revenue growth. Pearson PLC (NYSE:PSO) is expanding its enterprise learning and skills segment, with new contract wins from HCL Tech and Google Cloud, indicating strong growth potential. The acquisition of e-dynamic Learning is expected to support Pearson's medium-term growth strategy, with the business having strong margins and a track record of good growth. AI-driven innovations are enhancing Pearson's product offerings, improving learning outcomes, and generating cost efficiencies across the business. Negative Points Pearson PLC (NYSE:PSO) faces near-term pressure from hiring freezes affecting its PDRI segment, which could impact future opportunities. The English language learning segment saw a 3% decline, with the Pearson Test of English expected to decline in the second half of the year. Higher education enrollments are expected to remain flat, requiring growth from other factors such as inclusive access and pricing. The company is experiencing FX headwinds, which have impacted adjusted earnings per share, despite positive underlying trading performance. The integration of e-dynamic Learning may incur near-term costs and deferred revenue impacts, potentially affecting 2025 group guidance. Q & A Highlights Warning! GuruFocus has detected 9 Warning Signs with FRA:CIG. Q: Are the new contracts, such as those with ServiceNow and Salesforce, performing in line with expectations, and what is the growth outlook for 2026? A: Omar Abbosh, CEO: While we are not providing specific guidance for 2026, the contracts with ServiceNow, Salesforce, and others are performing as expected. Arthur Valentine added that the launch efforts and expected volumes are in line with expectations and reflected in the guidance provided. Q: Can you provide more details on how technology is driving cost efficiencies across Pearson? A: Sally Kate Johnson, CFO: AI is being used for content generation and translation, allowing faster market entry and cost savings. AI capabilities are also being integrated into services to improve customer experience and reduce costs. Q: What is driving the expected revenue growth in the second half of 2025? A: Sally Kate Johnson, CFO: The growth is driven by new and renewed contracts in assessments and qualifications, enrollment growth in virtual schools, and a strong performance in English language learning. The impact of previous school losses will no longer be a headwind. Q: Can you explain the recent acquisition of e-dynamic Learning and its expected impact? A: Omar Abbosh, CEO: E-dynamic Learning is a leader in career and technical education, providing content for middle and high school students. It will be integrated into the higher education segment and is expected to support medium-term growth with strong margins and cash flow. Q: How is Pearson addressing the decline in English Language Learning, particularly with PTE? A: Sharon, Head of English Language Learning: The second half of the year is expected to see growth driven by institutional business, particularly in Latin America, with a focus on government deals and share gains. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
CuspAI in Talks to Raise $100 Million to Discover New Materials
(Bloomberg) -- British startup CuspAI is in talks to raise more than $100 million in funding to support its goal of using artificial intelligence models to discover new materials, according to people familiar with the matter. PATH Train Service Resumes After Fire at Jersey City Station Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance Founded in 2024, CuspAI uses generative AI and molecular simulation to build a platform that it likens to a highly specialized search engine. Users can describe properties they'd like a new material to have and the service responds with a chemical makeup. CuspAI declined to comment. The people familiar with the deal talks asked not to be identified discussing private information. CuspAI Chief Executive Officer Chad Edwards previously told Bloomberg News that he sees opportunity in green hydrogen, synthetic fuels and semiconductor manufacturing. The startup recently partnered with Kemira Oyj, a Finnish chemicals company, starting with a project focused on removing forever chemicals from water. The company raised $30 million in seed funding in 2024. Earlier this year, AI 'godfather' and recent Nobel laureate Geoffrey Hinton joined the startup's advisory board. AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay How Podcast-Obsessed Tech Investors Made a New Media Industry Government Steps Up Campaign Against Business School Diversity What Happens to AI Startups When Their Founders Jump Ship for Big Tech Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
