Friday newspaper round-up: Twitter, tax cuts, PwC

by | Jul 8, 2022

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What price happiness? The answer might be £3,360 a year. The average UK worker would take a 10.5% pay cut to work for an employer where staff enjoy “above average” levels of happiness, a study has shown. The research, which examined 23 million jobseekers across the UK, US and Canada, comes amid a growing push for companies and governments to quantify the costs and benefits of wellbeing alongside cash measures of economic output. – Guardian

Twitter has revealed that it is suspending more than 1m spam accounts a day, as Elon Musk threatens to walk away from buying the business in a dispute over fake users. The new figure, confirmed by the social media platform on Thursday, represents a doubling of its previous update. Its chief executive, Parag Agrawal, said in May that spam account suspensions were running at 500,000 a day. – Guardian

The next Tory leader will find it all but impossible to slash taxes as Britain reels under a £185bn blow from net zero policies and its ageing population, the fiscal watchdog has said. The Office for Budget Responsibility warned Tory challengers that funding tax cuts through borrowing will pile pressure on the public finances and risk fuelling inflation, as it raised the spectre of the national debt hitting three times the size of the economy. – Telegraph


Advisers to two of West End’s biggest landlords will pocket nearly £70m in fees following Shaftesbury and Capital & Counties £5bn merger. Shaftesbury, whose portfolio stretches parts of Soho and Carnaby Street, is paying £35.7m to bankers, lawyers, legal and communications advisers, while Capco, which owns Covent Garden, is dishing out £33m. – Telegraph

PwC’s UK partners will take home more than £1 million for the first time ever after an “exceptional year” for the Big Four accountant. On average, the 995 members of its top executive tier will be paid £920,000 for its most recent financial year, which ended last week. That is up 6 per cent on the £868,000 they were paid in 2021, then a record. In addition, each partner is due a windfall of about £100,000 after PwC sold its mobility services business, which helps multinational companies to manage their immigration, business travel, tax and payroll. – The Times

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