Shein UK accused of moving ‘vast bulk of income’ to Singapore to cut British tax

Shein’s UK arm has been accused of transferring the “vast bulk of income” to its Singaporean parent in order to cut its British tax bill.The company, which had been considering a £50bn float on the London Stock Exchange but is expected to list in Hong Kong, paid just £9.6m in corporation tax despite taking £2bn in sales last year.The payment is equivalent to 25% of the £38.2m in pre-tax profits it made in the UK in 2024, according to accounts filed at Companies House, in line with the UK corporation tax rate

UK phone retailers lock shop doors while trading to tackle rising thefts

Mobile phone retailers are locking their doors during trading hours and considering using “kill switches” to disable stolen devices, as incidents of theft increase more than ninefold in some high streets due to organised crime.VodafoneThree, which operates the largest retail network with 650 stores across the UK, has experienced a 967% increase in theft incidents in the first half of this year compared with the same period in 2024.“In recent months, the telecoms sector has seen an alarming surge in aggressive robberies and attempted robberies in stores, particularly across London and the south-east of England,” said a spokesperson for the company. “VodafoneThree has seen a nine-times increase in these types of incidents.”In response, the company has introduced measures including a locked door policy in some stores, which requires security guards to open the store’s doors to customers during trading hours, rather than them remaining open at all times

Tesla offers Elon Musk a trillion-dollar pay package

Elon Musk could become the world’s first trillionaire if he hits targets set by Tesla, under a scheme disclosed by the electric car company he runs and in which he is the largest shareholder.Tesla outlined the terms of the incentive package, unprecedented in corporate history, in a section of its latest stock market update that began: “Yes, you read that correctly.”Musk, the company said, will have to increase the value of Tesla from just over $1tn now to $8.5tn over 10 years.If he presides over growth on that scale, the 54-year-old will receive new shares that would push his stake in the company from nearly 16% to well beyond 25%, increasing the fortunes of the world’s richest man to more than $2tn

Trump hosts US tech leaders at White House dinner – minus Elon Musk

As Donald Trump hosted leaders from the biggest US tech companies at a lavish White House state dining room dinner on Thursday night, there was one notable absence. Elon Musk, once inseparable from Trump and a constant, contentious presence in the White House, was not in attendance.The dinner, which included Meta’s Mark Zuckerberg, Microsoft’s Bill Gates, Apple’s Tim Cook and OpenAI’s Sam Altman, was exactly the type of event where Musk would have sat at Trump’s right hand only a few months ago. Instead, the Tesla CEO stated on his social media platform X that he had been invited but could not make it. He said he planned to send a representative and spent the day on X posting a familiar stream of attacks on immigration and trans people

US Open tennis 2025: Aryna Sabalenka v Amanda Anisimova, women’s singles final – live

Sabalenka is now throwing a giant ball about, while doing a good job of ignoring Anisimova, who’s only a few metres away from her. If Sabalenka can see the ball that big when she gets on to court, she’ll be unbeatable. They should be out very shortly.Do remember you can get in touch with your predictions too. It’s always good to hear from you

England 47-7 Australia: Women’s Rugby World Cup – rugby union as it happened

Sarah Rendell’s match report has landed so I’ll take my leave.England were good enough, without being brilliant. And Australia held on to avoid a shock group stage exit.It’s wasn’t pretty. Both teams gave away plenty of ball