Britain’s small and medium-sized firms are left in a trade limbo because of Brexit uncertainty February 13, 2017 Around half of small firms say Brexit will change their trading habits, but they're not sure how, according to money transfer platform TransferWise. Numerous small firms rely on international income, but Brexit uncertainty is leaving them in a trade limbo. Over a quarter receive more than £100,000 a year in international turnover. With nearly 99 per cent [...]
The average house price in England and Wales has gone above £300,000 February 13, 2017 The average house price in England and Wales has gone over £300,000 for the first time. According to the Your Move house price index, house prices grew 3.1 per cent year-on-year across England and Wales in January, reaching an average of £300,169. However, this was less than half the house price growth (7.3 per cent) [...]
UK’s biggest firms report record results February 13, 2017 The UK’s largest listed companies weathered a difficult political and trading climate last year, posting upbeat results in the final quarter of 2016. Fourth quarter revenues increased by 5.5 per cent on a like-for-like basis, reaching a record of £116bn for the listed companies. Operating profits grew at their fastest rate in the last three [...]
Inflation to hit 1.9 per cent for January as London businesses battle fastest cost rise since 2008 February 13, 2017 Consumer price inflation is expected to reach 1.9 per cent in January, taking it to its highest level since June 2014. It comes as businesses in the capital have faced the fastest rise in input costs for more than eight years during January. IHS Global Insight forecasts a third successive marked increase for the Consumer [...]
Banks stumbling over hurdles as they race to embrace cloud technology February 13, 2017 Worries about overseeing risk and concerns over security breaches are among the hurdles preventing banks from taking up cloud technology as quickly as other firms, according to a study released today. The report by law firm Pinsent Masons and the British Bankers' Association (BBA) highlights how lenders could become more agile and reduce their costs by using [...]
Culture shock: How London’s theatreland will be squeezed by business rates re-evaluation February 12, 2017 London’s theatreland will be forced to pay an estimated £31m in property taxes over the next five years once the government’s planned hike in business rates comes into effect in April. The total rates bill for theatres in the West End will rise by nearly 40 per cent to £6.3m for the 2017 to 2018 [...]
Swiss voters reject tax reform plan February 12, 2017 Voters in Switzerland have chosen to block the government’s attempts to reform its corporate tax regime. The federal chancellery announced on Sunday that the plans had been rejected by 59 per cent of voters in a nation-wide referendum held last week. Switzerland’s government had sought to abolish ultra-low tax rates for multinationals, whilst preparing a [...]
Pressure mounts on House of Commons speaker John Bercow over Brexit remarks February 12, 2017 Pressure is increasing on House of Commons speaker John Bercow after a cabinet minister warned of "a strong reaction" to Bercow's public statement that he voted for the UK to stay in the EU, and government sources said Downing Street would not intervene to protect him. It emerged today that Bercow had discussed his Remain vote with Reading [...]
Small business commissioner will tackle late payment issues February 12, 2017 The hunt is on for the UK’s first small business commissioner. As part of its strategy to tackle late payment issues, the government will hire an advocate for small businesses. This move comes in response to the discovery that nearly half of the UK’s small businesses experience late payment. Payment processor Bacs estimated that a [...]
All Star Lanes scores £3.5m strike after successful turnaround February 12, 2017 All Star Lanes has secured a £3.5m refinancing after a successful 2016 saw its underlying profits jump 39.5 per cent to £1.4m. The American-inspired ten-pin bowling chain has one branch in Manchester and four in London, including its recently reopened Brick Lane flagship location. Although the company was founded in 2006, it was only after [...]