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Cryptocurrency News Articles
Government to unveil investment deals worth billions in AI, life sciences and infrastructure at first International Investment Summit
Oct 14, 2024 at 08:07 am
A row over criticism of P&O Ferries that reportedly jeopardised a £1 billion investment by its Dubai-based owner DP World has been smoothed over
The Government is set to unveil billions of pounds in investment deals in AI, life sciences and infrastructure at its first International Investment Summit.
A dispute over criticism of P&O Ferries that reportedly threatened to derail a £1 billion investment by its Dubai-based owner DP World has been resolved, with the company set to attend the summit.
The Government is keen to demonstrate progress on its economic growth mission, following 100 days in office and ahead of the Chancellor's first Budget on October 30.
Chancellor Rachel Reeves has warned of “difficult choices” at the spending review, as Labour attempts to fill a £22 billion “black hole” in public finances left by the Conservatives.
The Government maintains that international investment will contribute to its objectives of job creation, improved living standards, and enhanced community and family well-being throughout the nation.
It will instruct the Competition and Markets Authority to prioritize growth, investment, and innovation, and will examine the priorities of other key regulators in order to "slash red tape" and place the UK "at the front of the queue" for opportunities.
In a key address at the summit, Sir Keir is anticipated to present Britain as a secure option for investors, stating that he will "do all in my power to stimulate growth, including eliminating needless regulation that deters investment."
“We have a once-in-a-generation opportunity to use our mandate to put an end to the chop and change, policy churn and sticking plasters that make it so difficult for investors to assess the value of any proposition,” he will say.
“We have the determination, the focus on clear long-term ends, a mission-led mindset that thinks in years, not the days or hours of the news grid, needed to unlock that potential. Do not doubt that.
“We are focusing on investment because the mission of growth, in this country especially, demands it. Private sector investment is the way we rebuild our country and pay our way in the world.”
In a joint letter to The Times, five of the world's largest banks, private equity firms, insurers, and tech giants expressed their support.
“We are optimistic about the future of the economy, and believe it is time to invest in Britain,” they said, highlighting increased stability and growth in the technology and energy sectors.
Among the 14 signatories are banks JP Morgan and Goldman Sachs, insurers Aviva and L&G, and private equity firms Blackstone and KKR.
Labour has cautioned of "difficult choices" to be made in the budget and has raised concerns of further cuts following a reduction in winter fuel payments to pensioners.
After Labour pledged not to raise national insurance, income tax, or VAT, there has been speculation as to which taxes may be increased in the Budget.
Ms Reeves must also decide whether to modify fiscal rules to permit greater borrowing for the funding of public services.
Consumer health company Haleon will announce a £130 million investment in a new Global Oral Health Innovation centre in Weybridge, Surrey, to coincide with the summit.
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- ICP Makes the Internet into a World Computer
- Oct 14, 2024 at 04:20 pm
- Dominic Williams, Founder and Chief Scientist of DFINITY, delivered a compelling keynote address at the Chain Fusion Hub @ Token2049 Singapore titled “ICP Makes the Internet into a World Computer”, presenting his vision of a revolutionary blockchain technology that transcends the limitations of traditional blockchains and offers a paradigm shift in how we build and secure applications. Coin Edition is pleased to present the following soundbites from the DFINITY founder.