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British government U-turn on top tax rate cut

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Chancellor Kwasi Kwarteng has announced a U-turn on the plan to cut the top rate of income tax.

Mr Kwarteng said in a statement: “From supporting British business to lowering the tax burden for the lowest paid, our Growth Plan sets out a new approach to build a more prosperous economy.

“However, it is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our country.

“As a result, I’m announcing we are not proceeding with the abolition of the 45p tax rate. We get it, and we have listened. This will allow us to focus

The chancellor’s U-turn comes after a backlash from Labour, with leader Jeremy Corbyn saying the tax cut would have benefited “a tiny minority at the top”.

Speaking to BBC Breakfast, he said that “95% of the package is what we are focused on” and the rest of the “growth plan” will be kept in place.

Mr Kwarteng says the decision came after talking to MPs, as well as constituents.

Asked if he had considered resigning, Mr Kwarteng said “not at all”, and that he is totally focused on getting away from a “high-tax route”.

In response, the pound has returned to the level it was at before the mini-budget 10 days ago, with a pound worth around $1.12.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Who killed the crypto boom?

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It has been a shocking year for crypto investors, the year that crypto came crashing down to earth.

What began as a trickle became a turning point for crypto, losing their luster and exposed as a fringe product that most sensitive, experienced investors approached with skepticism.

So how did crypto climb so high under the cover of the pandemic?

By 2022, the ads were everywhere. Crypto was taking over the superbowl, and global sport.

Hollywood’s biggest names were jumping on board, and suddenly the big banking firms were taking notice.

The tokens might have been virtual, but crypto was become a real threat, and of real interest to next gen investors. #crypto #ftx #bitcoin

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U.S. Judge dismisses Dfinity-Meta trademark case

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Meta has resolved a trademark lawsuit with Dfinity Foundation

 
Dfinity sued Meta over the infinity symbol logo that Meta adopted after changing its name from Facebook.

Dfinity alleged that the logo would cause confusion with Dfinity’s infinity-symbol trademarks.

The two parties have asked the San Francisco federal court to dismiss the case with prejudice.

Meta is still facing trademark lawsuits from Meta X and Metacapital over its name change. #Dfinity #Meta

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Elon Musk’s Tesla was blasted into space five years ago

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Musk’s Tesla is currently floating through the galaxy

Exactly five years ago,Elon Musk’s Tesla roadster was launched into space to travel on an endless joy ride through the cosmic wilderness.

And how’s this for a journey.

On its anniversary, estimates suggest the vehicle has completed three and one quarter loops around the sun and is sitting 326 kilometres from Earth.

It’s also logged up more than 4 billion kilometres, mostly travelling through a barren vacuum.

In space terms, it did get close to Mars at one point – passing within 8 million ks of the planet – or about 20 times the distance between the Earth and the moon.

Although, it’s difficult to say where the vehicle is exactly with or whether it’s still even in one piece.

It is possible the roadster may have been hit by a meteoroid or eroded by radiation. #trending #fetured

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