UK annual borrowing exceeds forecasts by almost £15bn in blow to Rachel Reeves | Government borrowing

SummaryA coronial inquest in Christchurch has concluded regarding the suspected suicide of Olympic cyclist Olivia Podmore on August 9, 2021, shortly after the Tokyo Olympics. The inquest revealed significant misconduct at Cycling NZ, including pressure on Podmore to lie during a 2018 investigation, and a 2022 report highlighted cultural and structural deficiencies within the organization. Podmore’s parents expressed their grief and frustration during their final statements, as they received insights into their daughter’s treatment and...

Summary Tourism Minister Patricia de Lille praised Africa's Travel Indaba for its significant impact on the economy and tourism sector. She highlighted the growing interest from key markets, including the United States, China, the United Kingdom, and India. This surge in interest underscores the event's importance in promoting travel and investment within Africa. Full Article

Luxury Goods Attract 1% TCS Handbags, wrist watches, footwear, and sportswear priced above Rs 10 lakh will now incur a 1% tax collected at source (TCS), as detailed in an April 22, 2025 notification by the income tax department. This measure, introduced through the Finance Act 2024, aims to enhance transparency in high-value purchases, requiring PAN details at the time of sale, while the TCS paid can be credited against the buyer's final tax liability....

TOP STORY The Liberal Party, under Mark Carney, has unveiled a costed platform proposing an unprecedented increase in debt, amounting to $224.8 billion over the next four years, averaging $56.9 billion annually. This new debt accumulation, which translates to $4 per day per Canadian, is significantly higher than previous forecasts and mirrors spending patterns seen during the tenures of Pierre Trudeau and Brian Mulroney, raising concerns of fiscal sustainability. Carney's proposed deficits represent a substantial...

A British Airways flight attendant, Irfan Ali Mirza, 45, was found dead in a San Francisco hotel room after failing to report for work following a layover from Heathrow. Colleagues raised the alarm when he did not respond to calls, leading hotel staff to discover his body; police reported no evidence of foul play, and the cause of death remains unconfirmed. Irfan, who had over 20 years of service, leaves behind a wife and three...

Goldman Sachs faced significant shareholder dissent at its annual meeting, with only 66% supporting the executives' pay packages, the lowest since 2016. The investment bank's decision to grant $80 million retention bonuses to CEO David Solomon and President John Waldron drew criticism from proxy advisers and major shareholders, including Norway's sovereign wealth fund, for lacking performance ties. This vote reflects growing investor unease over executive compensation practices, paralleling previous discontent seen with JPMorgan Chase's CEO...