Instagram sued for youth mental health harm

Creative Media NewsThursday, 26 October 2023, 4:000

Meta, the parent company of Facebook and Instagram, has been accused of contributing to an adolescent mental health crisis and misleading the public about the risks of social media use. Dozens of U.S. states filed a federal lawsuit in which the allegations were lodged. Claiming to “ensnare” users while concealing the “substantial dangers” of its...

Lloyds Bank profits tripled to £1.9bn last year.

Creative Media NewsWednesday, 25 October 2023, 8:000

Lloyds Banking Group’s third-quarter profit marginally exceeded initial projections due to a significant reduction in impairment charges. The banking giant reported pre-tax profits for the three months ending in September amounting to £1.86 billion, surpassing the £1.8 billion forecast by analysts and increasing profits by more than threefold compared to the restated £576 million earned...

FTSE 250 newcomer CAB Payments shares fall 70%.

Creative Media NewsWednesday, 25 October 2023, 4:000

On Tuesday, CAB Payments shares declined by approximately 75% in value subsequent to the fintech company’s reduction of sales projections. Revenue Projections and Currency Challenges The payments group, which was listed at 335p per share in July, informed investors that annual revenues would be 17% lower than anticipated due to a significant depreciation in the...

Interest rates to stay as job market deteriorate

Creative Media NewsWednesday, 25 October 2023, 2:000

Predictions that interest rates will remain unchanged in November have been reaffirmed by indications that the labor market in the United Kingdom is slowing down. From June to August, the unemployment rate increased to 4.2% from 4% in the March-to-May quarter but remained unchanged from the previous month’s figures. Implications of Rising Unemployment There appears...

China investigates Foxconn, Taiwanese iPhone producer.

Creative Media NewsTuesday, 24 October 2023, 6:000

Chinese Authorities Investigate Foxconn China has initiated an inquiry into Foxconn, an iPhone manufacturer headquartered in Taiwan, according to Chinese state media on Sunday. Tax Inspections at Foxconn Facilities According to anonymous sources cited by the Global Times, tax inspections were carried out by authorities at Foxconn facilities situated in two provinces of China. Foxconn’s...

Vistry Group will eliminate 200 positions due to declining profits.

Creative Media NewsTuesday, 24 October 2023, 2:000

Vistry has issued a warning regarding potential job reductions and a reduction in full-year earnings projections subsequent to the housebuilder’s sales declining steadily since the summer. Profit Targets Revised The property developer, headquartered in Kent, has revised its adjusted pre-tax profit target for the 2023 fiscal year from £450 million to £410 million, a reduction...

Billionaires should pay a minimal tax.

Creative Media NewsTuesday, 24 October 2023, 0:000

According to the EU Tax Observatory, most taxpayers pay a higher rate than the ultra-wealthy, who can avoid taxes by using complex business structures. The Call for a 2% Minimum Tax on Billionaires It was estimated that a 2% minimum tax on the global wealth of billionaires would generate $250 billion (£205 billion) annually. Approximately...

Former Telegraph owners fight offshore firm liquidation.

Creative Media NewsMonday, 23 October 2023, 22:000

Lloyds Banking Group has been urged by the Barclay family to postpone a court proceeding in the British Virgin Islands that could potentially lead to the liquidation of a significant holding company. The former proprietors of The Daily Telegraph have made an effort to delay a court proceeding in the British Virgin Islands (BVI) that...

House prices in London are falling: Is it time to buy cheaply?

Creative Media NewsMonday, 23 October 2023, 8:000

London Property Values on the Decline Nationwide, homeowners are becoming increasingly cognizant of the possibility that their property’s value will no longer increase. However, many capital-based property proprietors may already be all too familiar with this reality. According to official Land Registry data, the mean value of properties sold in London has increased by slightly...

Ferraris go electric: future-proofing or soul removal?

Creative Media NewsMonday, 23 October 2023, 0:000

Electrifying Classic Cars: A Costly Transformation Converting a classic automobile to electric power will cost the same as a down payment on a house, but proponents argue that doing so will “bring it into the twenty-first century,” whereas purists assert that “it’s not the same.” The Essence of Classic Automobiles: A Sensory Experience Classic automobile...

Households can get up to £1,500 energy bill help.

Creative Media NewsSunday, 22 October 2023, 18:000

Energy companies may offer assistance to clients burdened with exorbitant energy expenses, including grants of up to £1,500, complimentary electrical products, and improved insulation. Annual energy bill for the average household are currently £1,834. However, in line with government regulations, all providers are obligated to offer assistance to specific clientele, including the elderly, vulnerable, and...

Restoring policy predictability makes Moody’s rating for UK ‘stable’

Creative Media NewsSunday, 22 October 2023, 14:000

Moody’s Upgrades UK Outlook to Stable Moody’s has upgraded the United Kingdom’s outlook from “negative” to “stable,” stating that policy predictability has been reinstated following increased volatility surrounding the so-called mini-budget under Liz Truss last year. A year has passed since the last time the ratings agency Moody’s revised its outlook for the United Kingdom...

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