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Meta may be planning to make serious cuts to its Metaverse division, Bloomberg reported, citing anonymous sources. Company executives are mulling slashing the virtual reality platform’s budget by up to 30%, the report said, adding that any reductions would also include layoffs. If Meta does go ahead with such a plan, the move would reflect … Read more
This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here. The dispatch As expected, Chancellor Rachel Reeves used her Budget to pour a bucket-load of tax-raising measures over the U.K. economy. One of them, though, will be of particular interest to Britain’s startup and scale-up businesses. Reeves announced … Read more
The chair of the U.K.’s economic watchdog stood down on Monday after the organization mistakenly released its economic and fiscal forecasts ahead of the country’s Autumn Budget last week. The Office of Budget Responsibility (OBR) released its economic and fiscal forecasts on the budget’s measures about 40 minutes before Chancellor Rachel Reeves was due to … Read more
The European Space Agency said Thursday it would increase its budget for the next three years to almost 22.1 billion euros ($25.6 billion). Ahead of two-day agency conference starting Thursday in the German city of Bremen, ESA Director General Josef Aschbacher had expressed concern that Europe could be left behind in space travel if it didn’t invest … Read more
This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here. Follow CNBC’s coverage of the Budget throughout the day on our live blog here. The dispatch Despite the millions of words written and spoken about today’s Budget, the event will probably be all but forgotten a decade hence. … Read more
Lights on in skyscrapers and commercial buildings on the skyline of the City of London, UK, on Tuesday, Nov. 18, 2025. U.K. business chiefs urged Chancellor of the Exchequer Rachel Reeves to ease energy costs and avoid raising the tax burden on corporate Britain as she prepares this year’s budget. Bloomberg | Bloomberg | Getty Images LONDON … Read more
TAIPEI, TAIWAN – OCTOBER 10: Taiwan President Lai Ching-te (William Lai) delivers a national day address, during the National Day Ceremony, outside the Presidential Office in Taipei, Taiwan, on October 10, 2025. Daniel Ceng | Anadolu | Getty Images Taiwan will introduce a supplementary defense budget of 1.25 trillion Taiwanese dollars ($40 billion) as Beijing … Read more
UK Chancellor of the Exchequer Rachel Reeves at a roundtable meeting during her visit to the British Steel site on April 17, 2025 in Scunthorpe, England. Wpa Pool | Getty Images News | Getty Images The Autumn Budget is always a significant event in the calendar for financial markets, but that has never felt more … Read more
UK set for third-largest tax-raising Budget since WWII
President Trump’s recent proposal to pay Americans “at least $2,000 a person” from new tariff revenue—a policy he calls “tariff dividends”—is facing sharp criticism from a budget watchdog, who calculates that the plan will actually lose twice as much money for the country as the tariffs are generating. Writing in a weekend post on Truth … Read more
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