More than 138,000 residential and commercial properties in England and Wales are owned by offshore companies, with holdings in London worth a combined £55bn, according to research shared with the Guardian. The findings come as the government begins a crackdown to dismantle the secrecy that surrounds offshore property ownership, which it says has been used by “corrupt elites laundering money through UK property”. – Guardian
Jeremy Hunt will set out tax rises and spending cuts totalling £60bn at the autumn statement under current plans, including at least £35bn in cuts, the Guardian understands. Ministers must submit the key points of the autumn statement to the Office for Budget Responsibility (OBR) by Monday morning. – Guardian
Potential customers of Britishvolt were quoted prices of up to a third higher than competitors as the company prepares to battle cheaper Chinese rivals. One potential buyer told The Telegraph that he was put off by quoted prices for delivery in a few years’ time exceeding today’s prices. Battery prices are generally predicted to decline over time as production methods and technology improve. – Telegraph
Waitrose has insisted its supermarkets are better-stocked than some of its rivals despite claims that a bungled IT project has left many of its stores with empty shelves. The supermarket, which is owned by the John Lewis Partnership, said independent data showed product availability at its branches was higher than at competitors. – Telegraph
Meta is planning to begin large-scale layoffs this week, it emerged last night, in what may be among the largest round of recent culls in tech. The layoffs were expected to affect thousands of employees, with an announcement planned for as soon as Wednesday, according to the Wall Street Journal. – The Times
