Thursday newspaper round-up: Non-dom rules, Dyson, Skipton

Jeremy Hunt is considering scrapping Britain’s non-domiciled tax rules in next week’s budget, it has been reported, in a move that would see him poach one of Labour’s key fiscal policies. The decision is understood to be on a list of revenue-generating options drawn up for the chancellor and Rishi Sunak after economic estimates left them with less money than expected for tax cuts or spending pledges. – Guardian

Immigration restrictions imposed on international students threaten to damage the UK economy, according to university leaders, with the number enrolling from overseas falling by a third. Universities UK (UUK), which represents mainstream universities and colleges, said the government’s new curbs, coupled with steep visa fee increases and threats to cut back on graduate work entitlements, are having a negative impact on the UK as a study destination. – Guardian

Dyson spent a record £468m on researching advanced household robots and artificial intelligence last year, as its annual revenues surged to more than £7bn. Profits at the company rose by 9pc to £1.4bn in 2023 following a drop in the previous year. The engineering company, best known for its vacuum cleaners, increased its spending on developing new products to £9m per week, up 40pc on the previous year. – Telegraph

A pioneering mortgage product that does not require any deposit from borrowers attracted applications adding up to £62 million in its first nine months, Skipton Building Society has said. Stuart Haire, 49, the former HSBC banker who joined Skipton Group as its chief executive in December 2022, launched the Track Record product in May as a way of helping renters with good rental payment records but little cash savings. So far 484 borrowers have signed up. – The Times

FirstGroup is in talks to extend its open-access rail services from Edinburgh to Glasgow. Its Lumo brand runs services between Edinburgh, above, and London on the east coast main line. It wants to expand this route so that some services would begin or end in Glasgow. Discussions are taking place between FirstGroup, Transport Scotland, the government body, and Network Rail, which manages the railway infrastructure. – The Times