Reeves Weighs Reversing Non-Dom Inheritance Tax Changes, FT Says

Rachel Reeves is considering reversing a decision to charge inheritance tax on the overseas assets of non-doms, according to the Financial Times.
The Treasury is reviewing the decision to abolish the tax break for non-domiciled residents amid a wave of wealthy individuals departing and lobbying from the City of London, the FT said, citing officials and financiers it didn't identify. The regime would be changed if it was found to aid Britain's international competitiveness, the FT said, citing one government official.

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26 minutes ago

• Boston Globe

US stocks rise in their return from the Juneteenth holiday

The conflict has sent oil prices yo-yoing because of rising and ebbing fears that it could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up On Wall Street, Kroger jumped 6.8 percent to help lead the market after the grocer reported a better profit for the latest quarter than Wall Street had forecast. It also raised its forecast for an underlying measure of revenue for the full year. Chief Financial Officer David Kennerley said it's seeing positive momentum, but it's still seeing an uncertain overall economic environment. Advertisement CarMax rose 4.6 percent after the auto dealer reported a stronger profit for the latest quarter than analysts expected. The company said it sold nearly 6 percent more used autos during the quarter than it did a year earlier. Advertisement On the losing end of Wall Street was Smith & Wesson Brands, the maker of guns. It tumbled 15.3 percent after reporting profit and revenue for the latest quarter that fell just shy of analysts' expectations. Chief Financial Officer Deana McPherson said 'persistent inflation, high interest rates, and uncertainty caused by tariff concerns' have been hurting sales for firearms, and the company expects demand in its upcoming fiscal year to be similar to this past year's, depending on how inflation and Trump's tariffs play out. A spate of companies has been adjusting or even withdrawing their financial forecasts for the year because of all the uncertainty that tariffs are creating for their customers and for their suppliers. Everyone is waiting to see how big the tariffs will ultimately be. It's not just corporate America. The Federal Reserve has been keeping its main interest rate on hold this year, with its latest such decision coming earlier this week, because it's waiting to see exactly by how much tariffs will grind down on the economy and push up inflation. In the bond market, Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.41 percent from 4.38 percent late Wednesday. The two-year yield, which more closely tracks expectations for what the Fed will do, was holding at 3.94 percent. In stock markets abroad, indexes rose across much of Europe after finishing mixed in Asia. Tokyo's Nikkei 225 index edged 0.2 percent lower after Japan reported that its core inflation rate, excluding volatile food prices, rose to 3.7 percent in May, adding to challenges for Prime Minister Shigeru Ishiba's government and the central bank. ___ AP Writer Teresa Cerojano contributed. Advertisement

New York Times

31 minutes ago

• New York Times

Netherlands midfielder Danielle van de Donk joins London City Lionesses from Lyon

London City Lionesses have completed the signing of midfielder Danielle van de Donk from Lyon. The former Arsenal player, 33, joins the newly-promoted side ahead of their first season in the Women's Super League (WSL) after four years at Lyon. The Netherlands international has signed a two-year contract that runs until 2027. This Lioness roars louder in London. 🦁@DanielleDonk — London City Lionesses (@LC_Lionesses) June 20, 2025 Van de Donk said: 'It's just such a nice environment to be in, the club really appeals to me, it reminds me of a little family, and I want to be a part of it! 'The project that London City have, it's different but in a good way. London City have to battle for everything, and that's my style.' The transfer sees Van de Donk move between two Michele Kang-owned clubs, after the U.S. businesswoman completed the purchase of London City in February 2024. Advertisement After beginning her career in the Netherlands, Van de Donk joined Arsenal in 2015 and had six successful years in north London, winning three trophies including the WSL title in 2018. Shen joined Lyon in 2021, where she won three league titles and the Champions League in 2022. The midfielder has also made 167 appearances for the Netherlands, winning the European Championship in 2017. When asked about returning to play in the WSL, she said: 'I was there for six years, and it was very good. I loved it and saw no hesitation in coming back. It's a good league; the stadiums are full, and hopefully we can get more and more fans here too. I'm so excited to meet all of the fans, and I promise that I'll give 100% if you do the same for us.' London City Lionesses won promotion to the WSL for the first time last season by topping the Championship. Analysis by Charlotte Harpur This is a marquee signing for London City Lionesses and shows they are prepared to spend big to attract names. The aim seemingly is to build their brand and boost attendances in their maiden WSL season. It comes as a surprise that Van de Donk, a statement name in women's football with a Champions League winner's medal to her name and four league titles with Arsenal (one) and Lyon (three), has made the switch. But Kang's vision has evidently appealed to the 33-year-old versatile midfielder who will bring plenty of experience to the newly promoted team.

CNN

an hour ago

• CNN

Britain's lawmakers vote to legalize assisted dying, a landmark move after a fraught national debate

Lawmakers in Britain have narrowly approved a bill to legalize assisted dying for terminally ill people, capping a fraught debate in Parliament and across the country that cut across political, religious and legal divides. MPs passed the bill by 314 votes to 291, in their final say on the question. The bill – which has split lawmakers and sparked impassioned conversations with their constituents the breadth of Britain – will now move to the House of Lords for its final rounds of scrutiny. Friday's vote puts Britain firmly on track to join a small club of nations that have legalized the process, and one of the largest by population to allow it. It allows people with a terminal condition and less than six months to live to take a substance to end their lives, as long as they are capable of making the decision themselves. Two doctors and a panel would need to sign off on the choice. Canada, New Zealand, Spain and most of Australia allow assisted dying in some form, as do several US states, including Oregon, Washington and California. Friday's vote in Parliament coincided with a charged public debate about whether the state should be dictating the choices available to Britons in the final moments of their lives. Proponents included Esther Rantzen, a BBC TV presenter with advanced lung cancer, who argued that the choice would save millions from unnecessary suffering. 'If we don't vote to change the law today, what does that mean?,' asked Kim Leadbeater, the MP who introduced the bill last year. 'It means we will have many more years of heartbreaking stories from terminally ill people and their families, of pain and trauma, suicide attempts, PTSD, lonely trips to (clinics in) Switzerland, police investigations.' The option, she said, is 'not a choice between living and dying: it is a choice for terminally ill people about how they die.' But opponents have criticized the bill on religious and ethical grounds, and raised issues with a legislative process they accuse of being opaque. Former British Prime Minister Gordon Brown argued that fixing Britain's strained end-of-live care system should be prioritized, writing in a rare intervention in The Guardian that the bill 'would privilege the legal right to assisted dying without guaranteeing anything approaching an equivalent right to high-quality palliative care for those close to death.' Seriously ill people 'need the health and social care system fixing first,' Labour MP Vicky Foxcroft said in Parliament Friday. 'They want us as parliamentarians to assist them to live, not to die.' Friday's debate was concluded with a free vote, meaning that MPs were allowed to decide for or against the bill according to their conscience, and free from any party-line whipping. The proposed bill is broadly in line with the Oregon model, and does not go as far as Switzerland, the Netherlands and Canada, which allow assisted death in cases of suffering, not just for terminally ill people. It differs from euthanasia, the process in which another person deliberately ends someone's life to relieve suffering. It is currently a crime to help somebody die in England and Wales, punishable by up to 14 years in prison. Performing euthanasia on a person, meanwhile, is considered murder or manslaughter.