Swiss query tax evasion rules February 22, 2010 Switzerland’s justice minister yesterday questioned whether tax evasion should continue to be treated as a misdemeanour rather than a crime, in another blow to the country’s cherished banking secrecy. Switzerland has already abandoned the distinction between tax evasion — failing to declare your income or wealth to the taxman — and tax fraud — deliberately [...]
London Fashion Week retains its young counterculture edge that rivals lack February 22, 2010 London Fashion Week remains in full swing over the next few days as designers say the capital’s strong youth culture still gives the event an edge that rivals like Milan, New York and Paris lack. US designer John Rocha who showed off his latest designs in London over the weekend, said: “There is a great [...]
Honeywell International chief to join Obama panel February 22, 2010 The White House is considering naming the chief executive of Honeywell International, a former vice chairwoman of the Federal Reserve to a new panel on tackling budget deficits. Confirmation by the Obama administration comes after a Republican and two Democrats emerged as leading candidates to be among Obama’s six appointments to the panel. Republican David [...]
Brevan Howard tells clients: we have not sold eurozone stragglers short February 22, 2010 HEDGE fund juggernaut Brevan Howard Asset Management has written to investors confirming it has no short positions in troubled eurozone countries Greece, Italy or Portugal. Attention turned to speculators earlier this month after spreads on credit default swaps (CDS), which insure against the risk of non-payment by a company or nation, shot up on Greek [...]
Sky to broadcast from the City February 21, 2010 Broadcaster Sky News is today due to move into its new studio in the iconic Gherkin tower building at 30 St Mary Axe, in the heart of the City of London. The studio will host the weeknight business news programme Jeff Randall Live and will begin broadcasting from tonight, when Conservative leader David Cameron is [...]
Praesepe mulls Beacon purchase February 21, 2010 Beacon, the operator of some of the biggest bingo clubs in the UK, is on the verge of being sold to Aim-listed high street gaming group Praesepe in a deal worth around £45m. The entertainment group, which owns the Beacon Bingo club and Showboat amusement arcade chains, was taken over last year by its lenders, [...]
Torus gets £120m cash boost February 21, 2010 Torus Insurance, the business led by industry veteran Clive Tobin which is one of London’s fastest growing insurers, has received a £120m cash injection from American private equity investors to fund its underwriting operations. Torus was launched 18 months ago with a skeleton staff of 20. Its headcount has already grown to 260 and investment [...]
Finding a solution to the problems of old age February 21, 2010 FOR TOO long the issue of long-term care for the elderly – one of the most important challenges facing our generation – has remained unresolved. Last week, as it shot up the news agenda following public disagreements between all three major political parties, it became clear that this issue will now, quite rightly, be a [...]
Tokyo happy Toyota February 21, 2010 JAPAN’S transport minister, Seiji Maehara, has expressed relief at Toyota president, Akio Toyoda’s decision to testify in US Congressional hearings on Wednesday. “It’s good that he has decided to accept [the invitation]. This is a safety issue on which people’s lives depend and it’s a manufacturers duty to respond firmly,” minister Seiji Maehara told a [...]
Severn Trent latest to back Diplomas February 21, 2010 UTILITIES giant Severn Trent is the latest employer to join a network of 250 companies supporting Diplomas, a government-backed programme designed to help teenagers prepare for the workplace. Severn Trent chief executive Tony Wray has joined a growing number of organisations supporting the programme, including House of Fraser, the British Chambers of Commerce and Chartered [...]