HMRC’s tax probes drag on says law firm RPC September 20, 2015 HMRC takes over a year to wrap up almost a quarter of the 115,000 local tax compliance investigations open at any one time, a City law firm has said. Lawyers RPC today released figures showing that HMRC’s local compliance unit had more than 115,000 investigations ongoing against individual taxpayers and businesses as of March [...]
Labour councillor pushes to end zero hours work for 96,000 in the capital September 20, 2015 Labour's London Assembly economy spokeswoman will today call for changes to zero-hour contracts in London to guarantee workers 80 per cent of the hours they have worked over the previous three months. Fiona Twycross said in a statement she recognised that zero-hours contracts are popular with students and parents who need flexibility, but added, [...]
Small firms are owed billions in late payments and the figure is climbing September 20, 2015 The problem of late payments that is straining the finances of many of the UK’s smaller firms is getting worse, according to new figures. British small and medium-sized enterprises (SMEs) are owed £67.4bn in unpaid invoices, up eight per cent from this time last year, the Asset Based Finance Association (ABFA) said today. However, ABFA [...]
Chancellor George Osborne is optimistic about the slowing Chinese economy September 20, 2015 Chancellor George Osborne has said he isn't worried about China's slowing economy, which is undergoing a period of very challenging but necessary transformation. Renewed fears over the health of the world's second biggest economy rippled through global financial markets this summer. "Black Monday" wiped nearly $300bn (£193bn) off the value of Chinese shares, while US, Europe, Japan [...]
Why the Rugby World Cup’s economic impact is nothing to get excited about September 18, 2015 The economic benefits of international sporting tournaments to national economies have been loudly trumpeted, not least by sporting bodies themselves. Whilst UK investors might witness some short-term movement in the markets following the Rugby World Cup, history suggests that the true lasting value on the UK economy is likely to be limited. Yes, the [...]
Switzerland, UK and the Netherlands among the world’s 10 most innovative countries September 18, 2015 Switzerland has been named the most innovative country in the world is for the second year in a row. It was followed by the United Kingdom (UK), Sweden, the Netherlands, and the United States of America (USA) as the world’s five most-innovative places on the planet, according to an index published by a United Nations [...]
Oktoberfest 2015 price hike: How much more beer at Munich festival costs this year September 18, 2015 The world's largest beer festival, Oktoberfest in Munich, kicks off for the 182nd time tomorrow. Unicredit analysts have crunched the numbers to find out how much more a Maß – the Bavarian word for a litre of beer that comes in one of those huge, dimpled glass mugs – will cost punters this year. One Maß costs about €10.2 (£7.48) compared [...]
Fed up markets down? It’s about funding not rates September 18, 2015 Global markets were sent into a tailspin yesterday after the Federal Reserve held fire on interest rates amid fresh concerns over the Chinese economy and emerging markets. But market mavens should be paying attention to funding, rather than interest rates. It’s frequently said and not always in jest, that the credit markets are smarter than the stock [...]
Chile earthquake 2015: 8.3 magnitude quake sends London copper up to two-month high September 18, 2015 The major earthquake that hit Chile late last night has caused copper to rise to a two-month high on the London Metal Exchange. Its benchmark value went up 1.1 per cent to $5,440.50 a tonne, following fears that the natural disaster would impact supplies from Chile, which is the world's biggest producer of the [...]
UK house prices are set to go through the roof, with the fastest growth in London September 18, 2015 House prices are growing at a robust pace this month while mortgage lending has surged as the housing markets heat up. Estate agent Knight Frank’s house price sentiment indicator today scored 59.3 for September, with scores above 50 indicating price growth. The fastest current growth is in London. Households’ overall expectations of [...]