HMRC hits back at suggestions by Andrew Tyrie of heavy handed tactics in cracking down on tax avoidance February 25, 2017 Tax authorities have dismissed claims by the chairman of the Treasury Select Committee that it acted in a heavy handed manner, causing people "very severe financial distress". Andrew Tyrie has written to chancellor Philip Hammond to highlight concerns about the way HM Revenue & Customs (HMRC) cracked down on people who had arranged their financial affairs by using tax [...]
Following their historic win in the Copeland by-election, should the Tories call an early General Election? February 24, 2017 Chris Rumfitt, founder and chief executive of Field Consulting, says Yes. A wafer-thin majority in Parliament. No mandate for her policy agenda. An obstructive House of Lords. A shambolic opposition. And a massive lead in the polls. The case for an early General Election was already strong, but the result in Copeland should make it [...]
Rival Green Investment Bank bidder condemns government’s “unfortunate” choice of Macquarie as preferred bidder February 24, 2017 The chief executive of a rival bidder in the Green Investment Bank privatisation has condemned the government for making an “unfortunate” choice of preferred bidder and stubbornly sticking with it. The government is in exclusive talks with Australian investment bank Macquarie as it seeks to sell-off the £2bn-valued Green Investment Bank. The deal has come [...]
French elections promise a chaotic two months for investors as money tracks politics February 24, 2017 Fears of French electoral chaos have continued to drive sentiment in Europe in the past week, with volatile movements as investors follow the twists and turns of a tumultuous campaign. Redemptions from French equity funds reached their highest point since before Donald Trump was elected as US President in November during the week to 22 [...]
Today’s Copeland result and Lords energy report both highlight the ticking nuclear time-bomb in UK politics February 24, 2017 This morning’s Tory victory sweep in the Labour stronghold of nuclear heartland Copeland has coincided with the publication of a Lords report criticising the government’s nuclear energy policy. The nuclear question could not have been more central to yesterday's by-election contest in the heart of Britain’s West Cumbrian ‘energy coast’. 10,000 people are already directly [...]
A spirits union is calling for Nissan-style guarantees for the Scottish whisky industry during Brexit negotiations February 24, 2017 Workers in the £5bn Scottish whisky industry should be given Nissan-style protections in Brexit negotiations, union works have said. GMB, the union for whisky and spirits workers, has written to Scottish Secretary David Mundell to call for measures to safeguard an estimated 160,000 jobs related to the industry. More than 40,000 UK jobs are directly supported by [...]
PSA will honour commitments to Vauxhall plants says business secretary February 24, 2017 Peugeot will stick to commitments made to Vauxhall factories in the UK, according to business secretary Greg Clark. Clark said he had a “constructive meeting” with the chief executive of Peugeot SA (PSA), Carlos Tavares, in a statement this afternoon. “The meeting was reassuring,” Clark said. “We discussed how PSA's approach is to increase market [...]
Storm Doris: Insurers reveal a spike in claims after the UK’s worst storm of 2017 makes landfall February 24, 2017 The insurance sector has started to count the cost of the 100mph plus gales that have lashed the British Isles over the last few days. Storm Doris has led to a spike in activity for insurers, primarily in relation to land and buildings cover, with one provider saying it had already seen a 300 per cent increase in [...]
What are the biggest obstacles to global economic growth? February 24, 2017 | City Talk Global economic growth is lagging. The question is why. For insight into this, we asked readers of CFA Institute NewsBrief what they believe is the single biggest obstacle to global economic growth. I believe the biggest obstacle to global economic growth is . . . * Results do not add up to 100% due to [...]
“We are not in a bazaar”: German minister rules out HQ compromise in London Stock Exchange-Deutsche Boerse talks February 24, 2017 Politicians in Frankfurt appear determined to accept nothing but the headquarters of the combined London Stock Exchange and Deutsche Boerse, with an influential minister making clear he is not interested in compromise. “We are not in a bazaar,” Thomas Schaefer told City A.M. when asked whether there was anything the exchanges could offer to the [...]