PM tries to woo families after benefits backlash October 5, 2010 CONSERVATIVE CONFERENCE DAVID Cameron will today pledge to press ahead with a married couple’s tax allowance, in a move designed to compensate some families who are about to lose their child benefit. The Prime Minister will tell delegates at the Tory conference that the coalition will “recognise marriage in the tax system”, after a massive [...]
UK taxes near top in Europe October 5, 2010 THE UK has become the fourth most highly taxed country in the whole of Europe, a report revealed yesterday while also warning there could be an exodus of high earners from the City. KPMG’s annual individual income tax and social security rate survey showed the introduction of the 50 per cent rate of tax was [...]
All businesses are wealth creators October 5, 2010 WHEN you think of a wealth-creator, don’t think of a tycoon in a glass tower – or so David Cameron will tell the Tory party conference today. Think instead of a window cleaner, or a female entrepreneur who spends every night balancing her books, he will add. The Prime Minister is right to celebrate those [...]
BT’s Tech Mahindra stake eyed October 5, 2010 Private equity firms including Apax Partners and Providence Equity have shown interest in buying BT Group’s stake in Tech Mahindra that is likely to be valued at $830m (£522m). BT has restarted discussions to sell its holding in Tech Mahindra following the restatement of financial numbers by the Indian IT services firm’s unit Mahindra Satyam. [...]
Boston Red Sox bid for Liverpool October 5, 2010 Liverpool has received two new takeover bids – one from Asia and the other from the owners of the Boston Red Sox, New England Sports Ventures – but the football club’s American owners Tom Hicks and George Gillett Jr. are trying to block the other board members from pursuing negotiations. Both bidders are understood to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 5, 2010 FINANCIAL TIMES HEDGE FUND MANAGER ENTERS BEAR MARKET A disgraced hedge fund manager is to sell one of the world’s most valuable collections of teddy bears at a London auction later this month. Paul Greenwood, who pleaded guilty to fraud charges last year, will sell his £1.2m collection of Steiff teddy bears at Christies International [...]
Goldman sees its first half profits slide October 5, 2010 GOLDMAN Sachs yesterday revealed profits at its London operations fell to less than £1bn for the first half of the year. The bank posted a $1.47bn (£925m) profit, compared to $2.72bn last year, with revenues tumbling from $4.42bn in the first half to just $7.34bn. The bank revealed it paid the Treasury $600m in the [...]
Ernst & Young is falling behind its big four rivals October 5, 2010 ERNST & Young (E&Y) has reported flat revenue growth across its global offices, falling behind big four rivals Deloitte Touche Tohmatsu and PwC. The accounting giant posted $21.3bn (£13.3bn) in global revenue, marking a slight decrease from 2009 when global income came to $21.4bn. The firm’s results place it behind Deloitte and PwC, which both [...]
Rio’s deal with BHP on iron ore hits a hurdle October 5, 2010 MINING group Rio Tinto has made no decision on its planned $116bn (£72.9bn) Australian joint venture with BHP Billiton, it said yesterday after claims that the deal could be terminated. “The Rio Tinto board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore [...]
Tesco talks up economy as profit lifts October 5, 2010 TESCO said yesterday that the UK was unlikely to slide back into recession as it reported a 12.5 per cent increase in first half profit to £1.6bn. The world’s third largest retailer said it had been boosted by the strength of Asian markets, offsetting “modest” UK sales growth in the 26 weeks to 8 August. [...]