Airbnb facing enquiry from HMRC over UK activity October 8, 2018 Online short-term rentals giant Airbnb is facing enquiries from HM Revenue & Customs (HMRC) about its tax situation. The company said in a note published on Companies House that it had been contacted by HMRC "regarding the application of tax laws or regulations" impacting its business. This is in addition to facing tax inquiries and proceedings about its [...]
Punter Southall Aspire buys JDP Financial Services in bid to expand financial planning arm October 8, 2018 Wealth management and pensions firm Punter Southall Aspire today announce the acquisition of JDP Financial Services in an effort to expand its financial planning division. Punter offers integrated financial advice service and investment administration platform for employers and individuals, alongside other wealth management services. The deal for the Bedford based firm, which was agreed for [...]
Carrefour jumps on blockchain bandwagon in effort to track food supplies October 8, 2018 Europe’s biggest retailer is to roll out blockchain technology to trace the supply of goods such as chickens and eggs. Carrefour is planning to gradually deploy a blockchain ledger across its fresh product lines over the next several years, in a bid to bolster the security of its global supply chains. The French retailer is employing IBM, [...]
Legal & General completes £2.4bn buy-out of folded telco’s pension scheme October 8, 2018 Insurer Legal & General has today finalised a £2.4bn buyout of the Nortel Networks UK Pension Plan, nearly a decade after its telecommunications sponsor collapsed, forcing it into the lifeboat. The deal will see the benefits of 15,500 pensioner members and 7,200 deferred members protected. It is the UK's joint second largest ever pensions buyout, matched [...]
Five key takeaways from the FRC’s audit sector report October 8, 2018 The Financial Reporting Council (FRC), the audit sector’s watchdog, released its annual Developments in Audit report yesterday, outlining key challenges faced in the sector and assessing the current state of the profession. Audit is under close scrutiny at the moment, as politicians and regulators look closely at the dominance of the Big Four audit firms Deloitte, [...]
Flying high: Angling Direct hooks in revenues as physical stores prove to be a big catch October 8, 2018 Angling Direct reeled in a sharp rise in turnover over the first half of 2018, amid burgeoning sales that were bolstered by European expansion and UK store growth. The group today posted a 55 per cent rise in revenue in the first six months of the year, jumping to £21.9m, on the back of a [...]
Downing Street plays down EU rhetoric on a Brexit deal being close October 8, 2018 Downing Street today called for actions, not words from the EU as the clock ticks down on the Brexit talks. Speaking ahead of a crunch summit in Brussels next week, the Prime Minister's official spokesman said there are still "big issues" to be worked out before a deal can be agreed between the UK and [...]
Harrods to increase in-store investment after customers spent £2.1bn last year October 8, 2018 Harrods will increase investment in luxury boutiques at its Knightsbridge store after defying the retail environment with a 9 per cent profit rise. The luxury department store posted profits after tax of £176.7m, up nearly 9 per cent on the previous year's £162.5m. More than £2.1bn was spent at Harrods in the year ending 3 [...]
Second customer to have died after allergic reaction to Pret product named as Celia Marsh October 8, 2018 The second Pret a Manger customer believed to have died after having an allergic reaction to one of the chain's products has been named. Celia Marsh, 42, died on 27 December 2017 after eating a "super-veg rainbow flatbread" that was supposed to be dairy-free, but was later found to contain a yoghurt with traces of dairy. [...]
US duo awarded Nobel Economics Prize for work combining theories on climate change and technology October 8, 2018 Two US economists have won with this year’s prestigious Nobel Economics Prize for work in integrating climate change and technological innovation. William Nordhaus has been recognised for his work on the damaging financial implications of environmental factors such as climate change, while Paul Romer has examined how economists can achieve a healthy rate of economic [...]