FT News Briefing
UK Labour’s Budget borrows big, taxes more
Oct 31, 2024
Lucy Fisher, the FT's Whitehall editor, dives into the UK Labour Party's bold budget proposals, which include a staggering £40 billion tax increase and £28 billion in borrowing aimed at boosting growth and improving living standards. She discusses the potential political motivations behind these fiscal strategies, particularly in light of the current economic challenges. The conversation also touches on the recent changes to voting laws in Arizona, highlighting the impact on Indigenous communities and the ongoing national debate around election integrity.
13:15
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Quick takeaways
- Microsoft's revenue increase, driven by strong cloud demand, underscores the volatile dynamics of AI's influence on tech markets.
- UK Labour's proposed £40 billion tax increase and borrowing aim to invigorate public services but raises concerns about economic risks.
Deep dives
Microsoft's AI Boom and Earnings Report
Microsoft's recent earnings report revealed a 16% revenue increase from the previous quarter, driven largely by the rising demand for cloud computing amid the artificial intelligence boom. This surge in AI-related applications has notably raised Microsoft's share price by approximately 16% this year. However, concerns arose when the company warned of potential slowdowns in growth, indicating that while AI spending is escalating, future revenue growth may not keep pace. This highlights the unpredictability of market dynamics, particularly in the fast-evolving tech landscape where AI plays a central role.
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