Bitcoin tax review could make cryptocurrency transactions much cheaper January 13, 2014 Next month Bitcoin and other virtual currencies could become even more attractive to UK investors and retailers looking to accept them as payment. Bitcoin could find its tax status changed to a ‘private money’ by the end of February as part of HMRC’s review of the tax liability of electronic currencies. Transactions in Bitcoin are [...]
Apax edges towards Israeli float of dairy producer January 13, 2014 Israel's biggest cottage cheese producer took a step closer to floating on the stock market yesterday after its UK-based private equity owners approved plans to list the company. Tnuva, which has a stable of top selling brands ranging from kosher chicken to cheese spreads, has been controlled by London-based Apax Partners – owner of UK [...]
How “charity” plastic bag charge will make the Treasury millions January 13, 2014 It doesn't get more disingenuous than this: not only will next year see a mandatory charge on carrier bags, but it'll see the so-called "charity" charge heaping cash into Treasury coffers, reports The Telegraph's Christopher Hope. Deputy prime minister Nick Clegg unveiled the 5p charge for plastic bags at the Lib Dems' party conference, back [...]
Former HSBC UK chief Joe Garner joins BT as CEO of Openreach January 13, 2014 Joe Garner is the latest big name hire for telecoms company BT. He'll replace Liv Garfield as CEO of Openreach in mid-February, as Garfield leaves to become CEO of Severn Trent. Garner has worked most recently for HSBC as head of the UK bank, in which BT says that he drove "some of the highest [...]
EU and Britain to clash over legal highs January 13, 2014 Britain is on a collision course with the European Union (EU) after Home Office minister Norman Baker said the UK will oppose attempts by the EU to regulate so called "legal highs." The EU says that around 20 per cent of legal highs have a legitimate commercial use, a claim disputed by the Home Office. [...]
Government and industry team up to launch new shale gas study January 13, 2014 So the government’s shale push continues after yesterday’s business rate bonanza for local councils, with a new study to assess what the industry needs in terms of skills, material and equipment. The new study, conducted by EY, is jointly funded by the Department of Business Skills & Innovation (BIS) and the United Kingdom Onshore Operators [...]
6 reasons to start favouring European stocks over their pricey US counterparts January 13, 2014 Goldman Sachs' chief US equity strategist has said that the S&P500 is "lofty by almost any measure", both for the aggregate market as well as the median stock. Goldman's David Kostin found that to be true when using 10 different barometers: (1) The P/E ratio; (2) the current P/E expansion cycle; (3) EV/Sales; (4) EV/EBITDA; [...]
Taxi unions turn violent in protest against Uber January 13, 2014 French airports saw union violence today as demonstrators hurled rocks and paint at travellers using the innovative taxi service, Uber. Entrepreneur Kat Borlongan, had the windows of her taxi smashed and tyres slashed while travelling from Charles de Gaulle earlier today. Five taxi unions have brought their strength to bear to protest against services provided [...]
Suntory time for Jim Beam as Japanese taste for whisky grows January 13, 2014 What with Amec's £1.9bn move for Foster Wheeler and Goldcorp's $2.6bn offer for rival Osisko, today was already shaping up to be the biggest merger Monday in some time. But Japanese investment firm Suntory Holdings just blew everyone out of the water by making a $16bn (£9.74bn) bid for Beam – the NYSE-listed maker of Jim [...]
How Richard Branson nearly had another big fire on his hands January 13, 2014 Richard Branson has narrowly escaped having another lightning related fire at one of his properties. The entrepreneur tweeted a picture of a powerful fork of lightning just missing his game reserve in Ulusaba, South Africa. (Wolfgang Schmid) “After what happened with the Great Fire on Necker, we should possibly have learnt not [...]