BIRMINGHAM, England (AP) — The British government has dropped plans to cut income tax for top earners. The move was part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows. Treasury chief Kwasi Kwarteng said Monday that he would abandon plans to scrap the top 45% rate of income tax paid on earnings above 150,000 pounds a year. The announcement comes as more lawmakers from the governing Conservative Party turn on government tax plans. The announcement of 45 billion pounds in tax cuts sent the pound tumbling to a record low against the dollar. The Bank of England had to step in to stabilize the bond markets.
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Kim Kardashian fined $1 million by SEC over crypto promotion
The long list of celebrities promoting cryptocurrencies just got shorter. Kim Kardashian is being barred from doing so for three years — and will pay a $1 million fine — to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that she was paid to do so. The reality TV star also must give up the $250,000 she was paid for the Instagram post about Ethereum Max tokens, plus interest. That’s according to a Securities and Exchange Commission settlement announced Monday. Kardashian is the latest celebrity to get ensnared in regulations that require full…
