Welcome to the latest update on business news. Total pay has increased by 5.9% in the three months to April, surpassing expectations and challenging the possibility of interest rate cuts.
5 things to start your day
1) A higher share of pensioners is now paying income tax compared to working people for the first time.
2) Labour is considering tax raids recommended by the IMF, raising concerns about potential policy changes.
3) PwC is facing legal challenges over a “deeply flawed” audit from Lucky Strike maker in a growing dispute.
4) Volkswagen plans to sell solar panels for charging electric cars, aiming to reduce costs for drivers by up to 40%.
5) iPhone users can now use AI to write emails through a new deal with OpenAI, enhancing Apple’s capabilities.
What happened overnight
Asian stocks were mixed as investors reacted to European political uncertainties. While Chinese stocks fell, Japan’s Nikkei and South Korea’s stocks saw gains. In the US, the S&P 500 and Nasdaq reached new closing highs.
The yield on US 10-year notes also experienced a slight increase. Stay tuned for more updates on global business trends.
Source link
