Brits face a massive increase in energy bills. BP and Shell could be on the hook to pay
CNN
The UK government is coming under mounting pressure to increase taxes on oil and gas companies, including BP and Shell. The aim: to help British households cope with skyrocketing energy bills.
The main opposition Labour Party this weekend called on Prime Minister Boris Johnson to impose a windfall tax on companies pumping oil and gas from the North Sea, saying that the money raised could be used to cut roughly £200 ($272) from soaring household bills.
The party says the rate of corporate tax the companies pay should be increased by 10 percentage points for a year. The additional revenue would be spent on eliminating a 5% sales tax on energy for a year and covering the cost of bailing out dozens of small energy providers that have already gone bust because of rising wholesale costs. Labour would also increase energy subsidies for the poorest households to £400 ($545) per year from £140 ($190).
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
In Alaska’s North Slope region — the northernmost county in the US, roughly the same size as the United Kingdom — one small public radio station keeps eight villages connected and serves about 10,000 people. Now, it may not survive.
On August 1, hundreds of countries will come to learn their fate with the United States, when President Donald Trump’s pause on “reciprocal” tariffs ends. But businesses say planning has proven near impossible after months of whipsaw trade policy.
China has proposed a global action plan to govern artificial intelligence, just days after the United States unveiled its own plan to promote US dominance of the rapidly growing field that’s become a key bargaining chip in trade talks between the economic powerhouses.
Nashville officials on Monday announced a massive public transportation partnership with Elon Musk’s The Boring Company to alleviate the city’s significant traffic congestion problems for travelers bound to the airport. But Musk has previously made many similar promises in a host of other American cities with little to show for it.
US President Donald Trump may think the trade agreement he struck with the European Union on Sunday is the “biggest deal ever” – but some within the 27-nation bloc are calling it a capitulation.
US stocks rose Monday and the Dow was poised to hit its first record high of the year as investors welcomed the announcement of a trade deal between Washington and Brussels.
Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant’s loss-making contract manufacturing business.
Sweeping changes are coming to the world’s most powerful central bank, President Donald Trump and his top advisers have said — and they’re already starting to make good on that promise.
The United States and the European Union avoided the worst-case scenario: a damaging, all-out trade war between allies that threatened to raise prices on a large number of goods and slow two of the world’s largest economies. The framework delivered a sense of relief for both sides – but few are cheering the arrangement itself.
For months, protesters have gathered outside Tesla showrooms in response to Elon Musk’s role in reducing US government spending as part of the Department of Government Efficiency.
Disney’s “The Fantastic Four: First Steps” stormed the domestic box office, topping superhero competitor “Superman” to finish No. 1 with $118 million.
President Donald Trump began talks Sunday in Turnberry, Scotland, with European Commission President Ursula von der Leyen, as Friday’s deadline looms to reach a trade deal to avoid the 30% tariffs on European imports.
The state of President Donald Trump’s economy is about to come into full view.