WASHINGTON, United States — Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, according to minutes from last month’s meeting released Wednesday.
A majority of Fed officials felt that the risk of unemployment rising had worsened since their previous meeting in July, while the risk of rising…
The dollar index (DXY00) extended this week’s rally on Wednesday, rising +0.32% to reach a 1.75-month high. Political uncertainty in France and Japan has put downward pressure on the euro and yen, respectively, benefiting the dollar.
Wednesday afternoon saw additional gains for the dollar following the release of the hawkish minutes from the September 16-17 FOMC meeting. However, strength in the stock market reduced liquidity demand, limiting the extent of the dollar’s gains. Meanwhile, the ongoing U.S. government shutdown, which entered its second week on Monday, remains a bearish factor for the dollar. The longer the shutdown lasts, the greater the risk of adverse effects on the U.S. economy, negatively impacting the dollar.
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### FOMC Meeting Minutes and Interest Rate Outlook
The minutes from the September 16-17 Federal Open Market Committee (FOMC) meeting displayed a slightly hawkish tone. While most policymakers indicated it would be appropriate to ease policy further over the remainder of the year, a majority emphasized upside risks to their inflation outlooks. Markets are currently pricing in a 93% probability of a -25 basis points rate cut at the upcoming FOMC meeting on October 28-29.
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### Eurozone Update: EUR/USD Falls to 6-Week Low
The EUR/USD (^EURUSD) pair extended its losses on Wednesday, declining by -0.29% to a six-week low. Weaker-than-expected economic data from the Eurozone weighed heavily on the euro. Specifically, German industrial production for August posted its largest monthly decline in nearly three and a half years, dropping -4.3% month-over-month versus expectations of -1.0%.
Adding to the euro’s woes, political turmoil in France intensified after Prime Minister Lecornu resigned following President Macron’s appointment of a new cabinet. This development raised uncertainty around the Eurozone’s second-largest economy.
ECB Governing Council Member Muller commented that the Eurozone economy is slowly picking up and inflation is aligned with the ECB’s 2% target. Still, swaps markets currently assign only a 1% chance of a -25 basis points rate cut by the ECB at the October 30 policy meeting.
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### USD/JPY Moves Higher Amid Yen Weakness
The USD/JPY (^USDJPY) rose +0.55% on Wednesday as the yen extended its weekly selloff to a 7.75-month low against the dollar. The yen came under pressure due to weak wage growth in Japan — a dovish factor for Bank of Japan (BOJ) policy — with August labor cash earnings rising less than expected (+1.5% year-over-year versus +2.7% anticipated).
Higher U.S. Treasury note yields also contributed to yen weakness. However, losses were somewhat contained after the September Eco Watchers Outlook Survey in Japan improved more than expected, reaching a nine-month high.
Concerns have mounted over the election of Sanae Takaichi as leader of Japan’s ruling Liberal Democratic Party, making her the likely next Prime Minister. Her victory has tempered expectations of imminent BOJ policy tightening and raised worries about increased debt issuance given her support for expanded fiscal stimulus.
**Key Data Points:**
– Japan September Eco Watchers Outlook Survey: +1.0 to 48.5 (9-month high), above expectations of 47.8
– Japan August Labor Cash Earnings: +1.5% y/y, below expected +2.7%
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### Precious Metals Rally on Safe-Haven Demand
December gold (GCZ25) closed up +66.10 points (+1.65%) on Wednesday, while December silver (SIZ25) rose +1.479 points (+3.11%). Precious metals surged sharply, with December gold hitting a new contract high and nearest-futures gold (V25) reaching an all-time high of $4,049.20 per troy ounce. December silver also posted a contract high, and the nearest-futures silver logged a 14-year peak.
The ongoing U.S. government shutdown is driving safe-haven demand for precious metals. Political turmoil in France, following Prime Minister Lecornu’s resignation, is further boosting this demand. Additionally, metals are benefiting from safe-haven status amid uncertainty tied to U.S. tariffs, geopolitical risks, and global trade tensions.
The election of Sanae Takaichi in Japan, a proponent of easy fiscal and monetary policy, supports demand as a store of value. Central bank buying is also underpinning gold prices. Notably, the People’s Bank of China (PBOC) added 40,000 troy ounces of gold to its reserves in September, marking the 11th consecutive month of reserve increases.
Despite the dollar index rallying to a 1.75-month high on Wednesday — typically a negative factor for precious metals — safe-haven support remains strong. President Trump’s attacks on Fed independence have further bolstered gold demand. Weaker-than-expected U.S. economic data has strengthened the outlook for additional Fed rate cuts, which is bullish for precious metals. The swaps market currently indicates a 93% probability of a 25 basis point Fed rate cut at the October 28-29 FOMC meeting.
Meanwhile, fund buying of precious metal ETFs continues to support prices. Gold holdings in ETFs rose to a three-year high on Tuesday, with silver holdings reaching a three-year peak last Wednesday.
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*On the date of publication, Rich Asplund did not hold (either directly or indirectly) any positions in the securities mentioned in this article.*
*All information and data in this article is for informational purposes only. For more details, please view the Barchart Disclosure Policy.*
—
**More from Barchart:**
– What Should We Expect from the Commodity Complex This Week?
– 3 Reasons for Gold’s Record Rally
– As the Bank of England Warns on Inflation, Make This 1 Trade Now
– FAQ Friday
*The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.*
https://www.nasdaq.com/articles/dollar-gains-euro-and-yen-retreat
**Should You Be Worried About WeWork India’s ₹3,000 Crore IPO?**
*By Dwaipayan Roy | October 7, 2025 | 8:02 PM*
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WeWork India’s ₹3,000 crore initial public offering (IPO) has come under scrutiny, with proxy advisory firm InGovern raising significant concerns over its structure and pre-listing conditions. Shriram Subramanian, the founder of InGovern, highlighted issues that cast doubt on the promoters’ intent, the company’s financial sustainability, and governance oversight.
### IPO Structure: No Fresh Capital Infusion
The IPO is structured as a full offer for sale (OFS), meaning that no new capital will be infused into the company through this process. Instead, existing shareholders are offloading shares, which raises questions about the use of proceeds and the company’s future funding needs.
### Major Concerns Raised by InGovern
**Temporary Release of Pledged Promoter Shares**
A key concern flagged by InGovern is the temporary release of promoter shares that were pledged before the IPO. Over 53% of WeWork India’s pre-IPO shares, held by Embassy Buildcon, had been pledged against borrowings amounting to approximately ₹2,065 crore. These pledges were revoked mainly to facilitate the IPO. According to Subramanian, if the listing did not occur, the shares would have to be re-pledged within 45 days. This arrangement raises questions about the promoters’ commitment and the stability of their holdings.
**Ongoing Financial Challenges**
WeWork India continues to face operating cash losses, a challenge complicated by lease agreements treated as debt obligations. Nearly 43% of the company’s FY25 revenue went toward lease payouts. Subramanian expressed concern over the promoters’ use of a pure OFS to deleverage, noting that the company’s brief profit in FY25 was largely due to a deferred-tax gain rather than operational performance.
**Governance and Compliance Red Flags**
Repeated audit qualifications have been highlighted as a potential red flag. From FY22 to FY24, WeWork India reported material weaknesses in internal controls, including poor vendor documentation and issues with related-party transparency. Moreover, the promoters face several pending enforcement proceedings under the aegis of the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED), and the Prevention of Corruption Act, spotlighting serious governance concerns.
### Market Risks: Dependence on the WeWork Brand
InGovern also flagged WeWork India’s dependence on the WeWork Global brand as a critical risk factor. The company operates under a 99-year license, which is contingent on promoter control and regulatory compliance. Any conviction or significant change in promoters could jeopardize these brand rights, posing an existential threat to the business model.
### Despite Concerns, Strong Anchor Participation
Despite these multiple concerns, the IPO attracted strong anchor investor interest, raising ₹1,348 crore from 67 investors including well-known names like ICICI Prudential Mutual Fund and HDFC Mutual Fund.
—
**Takeaway:** While WeWork India’s IPO garnered a solid market response, investors should carefully weigh the significant financial, governance, and structural risks highlighted by InGovern before making investment decisions.
https://www.newsbytesapp.com/news/business/wework-india-s-3-000cr-ipo-under-ingovern-s-scanner-here-s-why/story
**Paytm Launches AI Soundbox for Small Businesses: How It Works**
*By Dwaipayan Roy | Oct 07, 2025, 08:03 PM*
Paytm has introduced the AI Soundbox, a revolutionary device designed to help small and medium enterprises (SMEs) streamline their daily operations and payments more efficiently. The new product was unveiled at the Global Fintech Festival 2025, marking a significant step forward in bringing advanced technology to India’s business landscape.
### What Is the AI Soundbox?
The AI Soundbox is an enhanced version of Paytm’s popular payment Soundbox series. What sets this device apart is its conversational AI capability, allowing merchants to interact in 11 Indian languages. This feature makes business transactions and management more accessible for a diverse range of users across the country.
### Enhanced Features for Business Intelligence
Beyond handling payments, the AI assistant embedded in the Soundbox can answer queries related to payments, sales trends, and overall business performance. Paytm describes the device as a “business intelligence assistant,” providing real-time insights that help merchants make informed decisions without needing complex software.
The Android-based device features dual screens—one displays payment updates, while the other facilitates easy interaction with the AI assistant. It supports dynamic QR codes alongside tap and insert card transactions, ensuring versatile payment options for customers.
### Transforming Small Businesses with AI
The AI Soundbox is aimed at empowering India’s extensive network of small businesses, from local kirana stores to cafes and retail chains. By integrating artificial intelligence into everyday business interactions, Paytm hopes to simplify operations and enhance business intelligence at the grassroots level.
Vijay Shekhar Sharma, Founder and CEO of Paytm, highlighted that this launch signals a new era of intelligent devices tailored for businesses across India.
### Reliable Connectivity for Smooth Operations
Equipped with Wi-Fi connectivity, the AI Soundbox assures stable performance for indoor settings such as restaurants and supermarkets. Additionally, 4G support is built-in to maintain seamless transaction processing in outdoor or high-traffic areas.
With this launch, Paytm continues to innovate in the fintech space by providing accessible and smart technology solutions that cater specifically to the needs of India’s small and medium enterprises.
https://www.newsbytesapp.com/news/science/paytm-introduces-ai-soundbox-for-smes-here-s-what-it-offers/story
**Would You Rather Receive a Penny Doubled for 30 Days or $1 Million Now?**
This is an interesting question that perfectly illustrates the power of compounding. A couple of weeks ago, I was having a discussion with some friends. They asked me whether I would prefer to have $1 million right now or a penny doubled every day for 30 days.
At first, I knew it was some kind of trick question, but I didn’t realize just how profound the effects of doubling a penny every day for 30 days could be. Later, when I calculated exactly how much that would amount to, my mind was blown. I was certain something wasn’t quite right. But it turned out the math was correct!
—
### What Happens If You Double a Penny for 30 Days?
If you double a penny every day for 30 days, you will end up with over **$5 MILLION — $5,368,709.12, to be exact**. This perfectly demonstrates the power of compounding returns over time.
Here’s how it looks day by day:
– Day 1: $0.01
– Day 2: $0.02
– Day 3: $0.04
– Day 4: $0.08
– Day 5: $0.16
– Day 6: $0.32
– Day 7: $0.64
– Day 8: $1.28
– Day 9: $2.56
– Day 10: $5.12
– Day 11: $10.24
– Day 12: $20.48
– Day 13: $40.96
– Day 14: $81.92
– Day 15: $163.84
– Day 16: $327.68
– Day 17: $655.36
– Day 18: $1,310.72
– Day 19: $2,621.44
– Day 20: $5,242.88
– Day 21: $10,485.76
– Day 22: $20,971.52
– Day 23: $41,943.04
– Day 24: $83,886.08
– Day 25: $167,772.16
– Day 26: $335,544.32
– Day 27: $671,088.64
– Day 28: $1,342,177.28
– Day 29: $2,684,354.56
– Day 30: $5,368,709.12
**WOW!** It’s incredible to see the difference in how wealth grows when you let the penny double every day for 30 days.
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### The Compounding Effect
When you invest money in the stock market or any other investment vehicle over time, your money compounds — meaning your returns begin to earn returns as well. This compounding is the reason why a penny doubled for 30 days can grow into over $5 million.
It illustrates the power of starting early and letting your money grow over time, which is key to building wealth and securing a comfortable retirement.
As the famous Albert Einstein once said:
*“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”*
That’s why saving money and investing it early is so important. Whether you live frugally, increase your income, or both, being consistent with saving and investing can lead to significant wealth over time.
Yes, it can take a while before you see noticeable effects, which might make the process feel long. But making frugal living fun and finding money-free activities can help you stay motivated. Focus on your end goal — it will make your journey worthwhile!
—
### The Rule of 72: Understanding How Long It Takes to Double Your Money
If the idea of doubling a penny every day sounds too good to be true (and it is — doubling daily is rare in real investments!), here’s a more realistic way to understand compound interest:
**The Rule of 72** helps you estimate how many years it will take to double your money based on your annual rate of return.
Simply divide 72 by the annual return percentage:
\[
\text{Years to double} = \frac{72}{\text{Annual return (\%)}}
\]
For example, if you invest $10,000 and earn a 7% annual return (which is close to the historical average for the stock market), your money would double to $20,000 in about **10.2 years**.
What’s exciting is that it takes:
– 10.2 years to double your money
– 16.3 years to triple your money
– 20.6 years to quadruple your money
Compound interest really pays off over the long haul!
—
### Investing Early Is Key
When doubling a penny for 30 days, it takes about 20 days to reach $5,000. After that, the amount shoots up dramatically to over $5 million by day 30.
This illustrates that building wealth takes time — patience is essential. Starting early gives you the maximum benefit from compound growth.
For example, if you missed the first five days of doubling the penny, you would end up with only $167,000 instead of over $5 million at the end of 30 days. Small early contributions add up dramatically over time.
Remember: starting with a small amount is better than not starting at all. You can always increase your contributions as you go.
**Fun fact:** If you flip a penny 1,000 times, you’ll get roughly 50/50 heads and tails. This statistical concept is called **ergodicity**.
—
### How Do I Start Investing?
You don’t need to pick individual stocks to start investing. While some people do well investing in individual stocks, it requires knowledge and time, and involves higher risk.
Instead, consider investing in **index funds**—these track the performance of hundreds or thousands of companies and provide diversification automatically.
When investing in actively managed mutual funds, only about 6% outperform the market over 15 years — and they often charge 1–2% in fees. In contrast, low-cost, passively managed index funds generally charge only 0.2–0.3% in fees and aim to match the market return, which averages around 7%.
Popular index funds include:
– VTSAX
– VBMFX
– VIG
– FSMAX
– VWRL
*Note: This is not investment advice — always do your own research before investing.*
—
### Resources to Start Investing
– **Vanguard:** One of the biggest investment companies; great for buying index funds.
– **M1 Finance:** A US-based platform that lets you build your own stock portfolio for free — no fees.
– **Acorns:** Helps you invest your spare change and start small with investments.
—
### Final Thoughts
Who would have thought a penny doubled every day for 30 days would turn into over $5 million? While this example is extreme, it clearly shows how even small investments can grow into substantial sums over time thanks to compound interest.
You don’t need to invest huge sums to see meaningful growth — just start with what you can and be consistent. As you patiently wait and allow your investments to compound, your financial future will grow stronger.
Start investing today, be patient, and watch your money multiply!
https://radicalfire.com/penny-doubled-for-30-days/
XRP Price Prediction: V-Shaped Rebound Sends XRP Toward Breakout – Something Big is About to Happen
Recent analysis of XRP’s price movement suggests the cryptocurrency is on track to reclaim the $3 mark. Key resistance levels have been identified between $3.17 and $3.36. Should the current momentum persist, traders may see XRP targeting higher ranges near $3.60 to $4.00.
Market participants are closely monitoring several factors influencing XRP’s trajectory. One significant development is the CME’s plan to introduce 24/7 crypto trading, which could add liquidity and impact price dynamics. Additionally, upcoming ETF deadlines are contributing to heightened market anticipation.
Support has been noted around the $2.94 level, providing a foundational base for potential upward movement. Meanwhile, the Relative Strength Index (RSI) is approaching overbought territory, indicating strong buying interest but also suggesting caution among investors.
Overall, the combination of a robust V-shaped rebound and critical market events points toward a possible breakout for XRP in the near term. Traders and investors should stay alert as something significant appears to be unfolding.
*The above analysis originally appeared on Cryptonews.*
https://cryptonews.com/news/xrp-price-prediction-v-shaped-rebound-sends-xrp-toward-breakout-something-big-is-about-to-happen/
Oct. 6, 2025, Published 2:55 a.m. ET
Some people play it safe. Joselito Lizarondo is not one of them.
The Filipino-born entrepreneur has built his career on bold decisions that many might have considered unusually risky. Starting a financial venture during a difficult crypto bear market? A significant gamble. Focusing on an untested concept like ‘stablecoin debit cards’? Few thought it would work.
But for Lizarondo, these were not gambles. They were acts of conviction.
“I knew it looked crazy from the outside,” he admits. “But I also knew if we pulled it off, it would change everything.”
That “everything” turned out to be Swipe, the fintech company Lizarondo founded and eventually sold to Binance, one of the world’s largest cryptocurrency exchanges. What started as a bold vision—making digital assets spendable in real time—became the foundation for a new way of thinking about money itself.
In 2018, the crypto industry was collapsing. Prices were down, investors were running for cover, and headlines screamed “bubble burst.” Most entrepreneurs would have shelved their ideas and waited for sunnier days. Lizarondo didn’t.
He pressed forward, sinking his energy and reputation into a product that many said would never work.
“You have to understand—when you launch in a bear market, everyone doubts you. Investors, partners, even friends,” he recalls. “It’s you against the world.”
That lonely fight became his training ground. Building Swipe meant pulling long nights, navigating endless regulatory hurdles, and facing down skeptics at every turn.
But where others saw barriers, Lizarondo saw opportunity. He refused to be shaken. Instead, he doubled down on what mattered most: solving a real problem.
Crypto users had assets, but they couldn’t spend them in their daily lives. Swipe’s debit card aimed to address this by offering conversion and transactions that felt more immediate and straightforward.
It wasn’t just an idea—it was survival. And it worked.
Swipe’s success didn’t just prove the critics wrong. It introduced a different way of thinking about how money could be used.
By enabling real-time stablecoin spending, Lizarondo helped move crypto from a speculative bubble to something you could use at the grocery store.
For many observers, that marked an important turning point—not chasing riches, but creating utility.
When Binance acquired the company, it served as confirmation that the idea had merit. The company Lizarondo developed during a market downturn later became part of the operations of one of the world’s largest exchanges.
But ask him if he’d do anything differently, and Lizarondo shakes his head.
“Nothing,” he says firmly. “The struggles, the failures, the sleepless nights—they all shaped the outcome. I wouldn’t change a thing.”
Today, he speaks not just as a founder who cashed out, but as a pioneer who helped redefine what money could be in the digital age.
His story is less about wealth and more about grit—the kind of grit it takes to keep going when everyone else is walking away.
Because for Joselito Lizarondo, resilience wasn’t just a trait. It was the currency that changed his life.
Investing involves risk and your investment may lose value. Past performance gives no indication of future results. These statements do not constitute and cannot replace investment advice.
MANILA, Philippines – The Bureau of Internal Revenue (BIR) has extended the deadlines for the filing of tax returns and the payment of corresponding taxes. This extension also applies to the submission of other required documents for affected taxpayers in Cebu, which was recently hit by a 6.9 magnitude earthquake.
The relief covers taxpayers and BIR personnel under the jurisdiction of the Revenue District Office in the affected area.
https://business.inquirer.net/550967/bir-extends-tax-deadlines-for-cebu-quake-victims
**Bitcoin’s Historical Price Trajectory Shows Shrinking Post-Halving Gains**
Bitcoin (BTC) has exhibited a clear historical price pattern: after each halving, the asset climbs to new highs. However, recent data reveal that the magnitude of these post-halving gains has steadily diminished over time, particularly since the second halving.
**Returns Are Shrinking Fast**
Bitcoin halvings reduce the rate at which new coins enter circulation by slashing block rewards. Since 2012, block rewards have dropped by 87.5%—from 25 BTC to the current 3.125 BTC—fueling scarcity-driven narratives that traditionally support Bitcoin’s upward price momentum.
Over this period, Bitcoin’s value has surged more than 9,110-fold, reaching a high of $109,000 on September 1, 2025. Just a month later, the cryptocurrency climbed above $120,000.
Despite these impressive numbers, CoinGecko reports that post-halving returns have significantly waned. The second halving cycle in 2017 delivered peak gains of 29x, the 2021 cycle saw returns drop to 6.7x, and the latest 2025 cycle has produced a comparatively modest 93.1% increase.
Interestingly, this cycle’s rhythm shifted when Bitcoin hit a record $73,400 in March 2024—months before the fourth halving—challenging historical expectations about the timing of peak prices.
**Market Activity Explodes**
Market activity has grown exponentially alongside Bitcoin’s price, with daily trading volumes soaring from roughly $20 million in 2013 to nearly $30 billion in 2025. This heightened activity has not deterred publicly listed companies from adopting Bitcoin as a treasury asset.
As of October 3, nearly 1,040,061 BTC were held by almost 200 publicly listed firms, accounting for almost 5% of the total BTC supply. Leading this corporate adoption is Strategy, which holds 640,031 BTC—representing 63.2% of all corporate-held Bitcoin—and recently added another 4,048 BTC on September 2.
Several new companies have also made significant moves into Bitcoin. Twenty One, backed by Tether, Bitfinex, Cantor Fitzgerald, and SoftBank, has purchased 43,514 BTC since May, becoming the third-largest corporate holder.
Meanwhile, US-based healthcare firm KindlyMD expanded its holdings through a merger with Nakamoto BTC Holdings, adding 5,765 BTC and announcing plans to raise $5 billion to further grow its treasury.
Internationally, organizations like MetaPlanet in Japan and Treasury BV in Europe are building sizable Bitcoin treasuries. Treasury BV recently raised $147 million to acquire more than 1,000 BTC.
**Bitcoin’s Backbone Strengthens**
As institutional holdings climb, the Bitcoin network itself is growing stronger. The network’s mining hash rate has been on a steady upward trajectory, driven by increasing participation from both individual miners and institutional players.
Over the past year alone, the hash rate surged 88%, rising from 670 million TH/s to 1.266 ZH/s.
The US mining ecosystem has expanded significantly under the Trump administration, aided in part by the relocation of Chinese mining hardware manufacturers—such as Bitmain, Canaan, and MicroBT—to the US. These moves were driven by tariffs and regulatory pressures in China.
Domestic firms including HIVE, Hut 8, Marathon, and CleanSpark have increasingly prioritized alternative energy sources for their new mining facilities, bolstering the network’s sustainability.
Adding momentum to this trend, Eric Trump recently co-founded American Bitcoin Corp, which debuted on the Nasdaq, further signaling growing institutional interest in Bitcoin mining and infrastructure.
—
**In summary**, while Bitcoin continues to break price records and attract institutional adoption, the post-halving price gains have compressed over time. This evolving landscape reflects a maturing asset class supported by expanding network infrastructure and increasing corporate treasury participation.
https://bitcoinethereumnews.com/bitcoin/bitcoin-keeps-breaking-records-but-each-halving-cycle-delivers-smaller-gains/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-keeps-breaking-records-but-each-halving-cycle-delivers-smaller-gains
Rachel Reeves is under mounting pressure to axe stamp duty on share trading in order to breathe new life into the UK stock market.
Concerns are growing that the number of firms leaving London for rival financial hubs, including New York, will increase unless urgent action is taken.
In response, the Chancellor is considering introducing a stamp duty break for investors buying newly listed shares, aiming to encourage more companies to list on the UK stock market.
However, there are increasing calls to scrap the 0.5 percent levy on share trading altogether.
Charles Hall, from Peel Hunt, argued that the tax should be abolished but acknowledged that Labour is unlikely to do so given the current state of the economy. He also pointed to AstraZeneca’s plans for a full listing in New York as a “proper warning shot” for the UK market.
https://www.thisismoney.co.uk/money/markets/article-15164389/Chancellor-faces-calls-axe-stamp-duty-shares.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
