Hot Minute News: Bitcoin, Amazon and the Autumn statement

What are the three big finance stories of the week?

  • First on the list, Bitcoin is up 5% as the President of El Salvador pledges to buy one a day in response to FTX’s collapse. Justin Sin, founder of Tron, responded saying he would also be doing the same. It seems they think a bitcoin a day will keep the market at bay!

  • Up next, Amazon is planning to cut 10,000 jobs. This comes as thousands of jobs are being shed across the tech industry. Amazon’s share price has fallen more than 40% this year as it grapples with a slowdown in online sales.

  • And our top story is Jeremy Hunt’s Autumn statement. Some key takeaways are that the top tax bracket is being lowered from £150k to just over £125k. Capital gains tax allowance is being cut from £12,300 to £6,000 and dividend income allowance will be cut by 50%.

For more details on the Autumn statement, check out our Instagram post where we give you the full rundown.

That's all for today! Visit our news section for more stories and don't forget to download the Shares app. You can also stay up to date by following us on our socials 👇

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Meet the authors

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James Ashoo

Senior Content Writer

James has been investing for over five years. His aim is to explain the hard stuff, easily! When he's not chewing your ear off about stocks and crypto, he'll most likely be telling bad jokes.

Harjas Singh

Harjas Singh

Chief Product Officer & Co-Founder

With a wealth of experience in fintech, Harjas is the man in the know when it comes to all things product. Investing features, chatting capabilities and thriving communities – he oversees all development on the Shares app!

Harry Harrison

Harry Harrison

Finance Writer

Harry is an experienced business writer, with a love for all things tech. In his free time, he enjoys reading, playing sport and winning at chess. He also loves posting inside the Shares app!