Can big business relax? HMRC probes struggle as cash yielded from investigations falls January 30, 2017 The taxman is struggling to squeeze Britain's largest businesses as the cash yielded from its investigations fell by a quarter. HM Revenue & Customs (HMRC) collected an extra £2.6bn from largest businesses in 2016, down from £3.5bn the year before, according to analysis of HMRC’s Large Business Directorat by law firm Pinsent Masons. Read more: "Middle [...]
Brexit uncertainty fails to hamper progress at Smith & Williamson January 30, 2017 Mid-tier beancounters Smith & Williamson said it had delivered a strong performance despite the economic uncertainty created by the Brexit vote, revealing double-digit revenue growth over the period that straddled the referendum. Operating income grew by 10 per cent to £117.5m, while operating profit was over a fifth higher (22 per cent) at £17.7m over the six [...]
The first of many? TP Icap seals first deal under new banner January 30, 2017 Newly named financial broker TP Icap has made its first acquisition, picking up analytics and business consulting firm Burton-Taylor International. TP Icap has its own division providing independent real time information on over-the-counter financial product prices. Burton-Taylor will "complement" this division, TP Icap said. Read more: This high-profile City boss just sold his shares in new company TP Icap [...]
Why could digital tech reach over $2.7 trillion by 2020? January 30, 2017 | City Talk Whether it’s big data, artificial intelligence (AI), cloud storage or cyber security, the effects of digital technology development are all around us. Recognised as the third industrial revolution, we are experiencing one of the most transformative periods in history. Digital – transforming our industrial society In 2001, a group of software developers met at the [...]
Brexit won’t break Britain’s trading relationships with Europe, study shows January 30, 2017 British businesses will continue to have a strong trading relationship with European customers and suppliers despite the Brexit vote, research to be released today suggests. Of 1,500 business people surveyed, around three quarters currently sell and source goods and services in the EU market, and UK companies will continue to see Europe as a vital trading [...]
The UK could seal its first bilateral free trade deal before 2020 if it pursues the right countries January 30, 2017 Britain could sign off on its first bilateral free trade deal before 2020 if the government prioritises negotiations with South Korea, the US and Brazil, a new report suggests. The UK government should prioritise pursuing trade deals with specific countries based on the potential economic value it would bring to the UK economy as well [...]
Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London January 30, 2017 Riding the airport shuttle bus through Dublin’s financial services centre on a sunny January afternoon, and looking forward to a pint of Guinness at the journey’s end, the prospect of the City of London losing jobs to Ireland doesn’t seem too upsetting. Located to the east of the city on the River Liffey, the financial [...]
No change in interest rates expected by economists ahead of Superthursday January 30, 2017 The Bank of England is set to keep its interest rate at 0.25 per cent this week, economists predict, despite forecasts that inflation is creeping up. The bank's monetary policy committee (MPC) meets ahead of publishing its latest rates decision this Thursday. On the same day, the bank will publish its quarterly inflation report, making [...]
Fever-Tree is branching out as it finds there’s more room to grow January 30, 2017 Posh tonic maker Fever-Tree has a knack for finding holes in the market. More than a decade after founders Tim Warrillow and Charles Rolls launched their first product, an Indian tonic water, the firm is flying. The company’s premium alcohol mixers, including Sicilian lemonade and ginger beer, are sold on and off trade to retailers, [...]
Tech giants are hitting back against Donald Trump’s immigration ban January 30, 2017 Events have moved fast since Theresa May walked hand-in-hand with President Trump outside the White House. Initial reaction to May’s Washington visit was positive: the PM had charmed Congressional Republicans, banged the drum for increased US-UK trade and held a successful press conference with the new President. Hours later, however, as details emerged of America’s [...]