Roula Khalaf, Editor of the FT, selects her favorite stories in this weekly newsletter, including a report stating that UK chancellor Rachel Reeves is unlikely to cut pension tax relief for higher earners in her upcoming Budget. Reeves had previously proposed a flat rate of pension tax relief but is now expected to shy away from this move, opting instead for levying a rate of national insurance contributions on employer pension contributions as a less politically painful option. The Labour manifesto commits to not increasing taxes on “working people”, with Reeves facing tough decisions on spending, welfare, and tax in the Budget.
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World Kinect (WKC) Q2 EPS Jumps 23%
World Kinect (NYSE:WKC) reported Q2 2025 results on July 31, revealing adjusted EPS of $0.59, surpassing the $0.48 forecast, while GAAP revenue of $9.04 billion fell short of the $9.32 billion expectation and declined 18% year-over-year. The quarter included $405 million in impairment and restructuring charges due to a strategic overhaul, particularly in the Land segment, despite strong performance in Aviation. Want More Context? 🔎
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