Business
Google may be forced to make changes to search engine in UK
Google may have to make changes in the UK so people have more choice over which search engine they use, following a landmark decision from the regulator.
The Competition and Markets Authority (CMA) has designated Google with “strategic market status” under a law which came into force in January.
The decision does not mean the regulator has found wrongdoing at this stage.
Instead, it opens the door to what it called “proportionate, targeted interventions” to ensure the market is competitive.
Google has warned against any measures which its says might “inhibit UK innovation and growth.”
The CMA said it expected to begin a consultation on what changes might be introduced later in 2025.
In response to the announcement, Google has attempted to emphasise what it sees as the advantages of the regulatory status quo.
“UK businesses and consumers have been amongst the first to benefit from Google’s innovations, often months before their European counterparts,” Google’s competition boss Oliver Bethell wrote in a blog post.
“As a result, they see significant value: Google Search contributes billions of pounds a year to the UK economy — £118 billion in 2023 alone.
“Many of the ideas for interventions that have been raised in this process would inhibit UK innovation and growth, potentially slowing product launches at a time of profound AI-based innovation.”
The CMA said Google’s market dominance was unquestionable.
“We have found that Google maintains a strategic position in the search and search advertising sector – with more than 90% of searches in the UK taking place on its platform,” CMA digital markets boss Will Hayter said.
“Having taken into account the feedback received following our proposed decision, we have today designated Google’s search services with strategic market status.”
The CMA previously unveiled what it called a “roadmap” of potential measures it could take if Google was found to have significant market status.
It said it could potentially force the tech giant to include “choice screens” which would let users see alternative search providers, as well as giving publishers more control over how their content was used.
It also included what it called “fair principles” for how websites are ranked in search results, and an “effective complaints process” for businesses unhappy about their listing.
The move has been well-received by consumer groups, with Which? policy boss Rocio Concha calling it “an important step”.
“The CMA’s careful evidence gathering makes a compelling argument,” she said.
“Online search is evolving as GenAI tools become more widely used, but the CMA must still act to tackle the harmful dominance Google has now.”
This is not the only regulatory action the tech giant is facing, as countries around the world consider whether it has become too dominant.
In the US on Monday, the Supreme Court decided not to intervene in a judge’s order which required sweeping changes to be made to the Google Play Store.
But the tech firm won a battle in the same jurisdiction over long-running fears it may have had to sell Chrome or Android.
It was handed a €2.95bn (£2.5bn) fine by the EU in September, for allegedly abusing its power in the ad tech sector – the technology which determines which adverts should be placed online and where.
UK investment bank Peel Hunt has given some support to under-pressure Chancellor Rachel Reeves over last week’s Budget as it said efforts to boost the London market and invest in UK companies were “positive steps”.
Peel Hunt welcomed moves announced in the Budget, such as the stamp duty exemption for shares bought in newly listed firms on the London market and changes to Isa investing.
It comes as Ms Reeves has been forced to defend herself against claims she misled voters by talking up the scale of the fiscal challenge in the run-up to last week’s Budget, in which she announced £26 billion worth of tax rises.
Peel Hunt said: “Following a prolonged period of pre-Budget speculation, businesses and investors now have greater clarity from which they can start to plan.
“The key measures were generally well received by markets, particularly the creation of additional headroom against the Chancellor’s fiscal rules.
“Initiatives such as a stamp duty holiday on initial public offerings (IPOs) and adjustments to the Isa framework are intended to support UK capital markets and encourage investment in British companies.
“These developments, alongside the Entrepreneurship in the UK paper published simultaneously, represent positive steps toward enhancing the UK’s attractiveness for growth businesses and long-term investors.”
Ms Reeves last week announced a three-year stamp duty holiday on shares bought in new UK flotations as part of a raft of measures to boost investment in UK shares.
She also unveiled a change to the individual savings account (Isa) limit that lowers the cash element to £12,000 with the remaining £8,000 now redirected into stocks and shares.
But the Chancellor also revealed an unexpected increase in dividend tax, rising by 2% for basic and higher rate taxpayers next year, which experts have warned “undermines the drive to increase investing in Britain”.
Peel Hunt said the London IPO market had begun to revive in the autumn, although listings activity remained low during its first half to the end of September.
Firms that have listed in London over recent months include The Beauty Tech Group, small business lender Shawbrook and tinned tuna firm Princes.
Peel Hunt added that deal activity had “continued at pace” throughout its first half, with 60 transactions announced across the market during that time and 10 active bids for FTSE 350 companies, as at the end of September.
Half-year results for Peel Hunt showed pre-tax profits jumped to £11.5 million in the six months to September 30, up from £1.2 million a year earlier, as revenues lifted 38.3%.
Peel Hunt said its workforce has been cut by nearly 10% since the end of March under an ongoing savings drive, with full-year underlying fixed costs down by around £5 million.
Steven Fine, chief executive of Peel Hunt, said: “The second half has started strongly, with the group continuing to play leading roles across both mergers and acquisitions and equity capital markets mandates.”
Business
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
GST collections: The Gross Goods and Services Tax (GST) collections for the month of November came in at over Rs 1.70 lakh crore. This is a rise of 0.7%, according to official data.SBI Research in a report in November had estimated that the gross domestic GST collections may come around Rs 1.49 lakh crore for November 25 (returns of October 25 but filed in Nov’25), a YoY growth of 6.8%.“Coupled with Rs 51,000 crore of IGST and cess on Import, the November GST collections thus could cross Rs 2.0 lakh crore, driven by the peak festive season demand led by lower GST rate and increased compliance while most of states experience positive gains,” SBI Research had said.This story is being updated
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
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