Bye-bye Single Market? What to expect from Theresa May’s Brexit plan January 15, 2017 We know Brexit means Brexit, but Theresa May will finally tell the UK exactly what that means this week in the most significant speech of her premiership and setting the course for Britain's exit from the European Union. The Prime Minister will say that the UK is prepared to leave the Single Market, customs union [...]
Smokers Paradise lost: City’s oldest cigar shop shuts its doors January 14, 2017 One of the City's oldest cigar shops has shut its doors after serving the great and the good of the Square Mile for almost 200 years. Smokers Paradise, a shop which was based in the iconic Royal Exchange at the heart of London's financial district, has sold its final Montecristo after rising rent costs made it [...]
Leading bookmaker hits out on government plans, warning of “consequences for the sector” January 14, 2017 One of Britain's largest bookmakers has criticised government plans to take 10 per cent of gambling firms horse racing profits to fund the sport. Ladbrokes Coral, which runs over 4,000 betting shops across the UK, said the proposals "will have consequences for the sector". The department of culture, media and sport today announced an amendment to laws dating [...]
Horse racing levy to be imposed on bookmakers, hitting profits from April January 14, 2017 Horse racing organisations rejoiced will bookmakers fumed after the government announced plans to slap a 10 per cent levy of gambling firms. And bookies won't have much time before get used to the new rules as sports minister Tracey Crouch plans to introduce the levy – which is on all profits greater than £500,000 made on [...]
Remember special relationships? The EU’s chief Brexit negotiator wants one with the City of London January 14, 2017 The EU's chief Brexit negotiator has indicated signs of a softening his previously hardline stance of the UK's exit from the union, letting slip a desire to allow member states access to the City. Michel Barnier wants a "special" relationship with London financial powerhouse as part of any Brexit deal, according to unpublished European parliament [...]
Mike Ashley’s patience runs out: Sports Direct appoints law firm despite previous investor sentiment January 14, 2017 Sports Direct has controversially appointed RPC to take control of its eagerly anticipated corporate governance review after two failed attempts at appointing alternative candidates. In an announcement to the stockmarket after it closed yesterday evening, Mike Ashley's firm said it had appointed the law firm, despite previous concerns from key investors over RPC's impartiality. Read more: [...]
Small business “backbone of economy” under threat from ill-thought through plans, conclude MPs January 14, 2017 Government plans for sweeping changes to force the UK’s businesses to “digitise tax” should be delayed due to significant shortcomings, a select committee of MPs has urged. The treasury select committee highlighted plans to require businesses to keep tax records in digital format, submit quarter updates to tax authorities and provide an end of year [...]
Tata Steel pension scheme edges towards safety January 13, 2017 Tata Steel is one step closer to saving its £15bn retirement scheme from falling into the government's pension lifeboat. A statement from the British Steel Pension Scheme trustees revealed Tata Steel had initiated talks with both scheme trustees and "relevant regulatory bodies". Read more: German steel giant in talks with Tata hit by "massive" cyber attack Tata Steel, [...]
Centrica completed its exit from wind power as it sold its stake in the Lincs offshore wind farm January 13, 2017 Centrica has completed its exit from the wind power generation business with the sale of a 50 per cent stake in its Lincs offshore wind farm to the Green Investment Bank. The UK energy company's joint venture partner Siemens Project Ventures has also agreed to sell its 25 per cent share to the bank, while Dong Energy, [...]
Employers must act early when strike action looms: Industrial action and what can be done January 13, 2017 Strike action is continuing to cause significant disruption for commuters, business travellers and holidaymakers in early 2017 – but could it have been prevented? Southern Rail has announced that it is going ahead with three-day stoppages of its train services this month – the first started this week – and British Airways’ cabin crew held a 48-hour strike [...]